Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Hankook tapped as original equipment tire supplier for
Hankook Tire Co., South Korea's largest tiremaker, said Thursday it will be supplying two different rubbers for Atego trucks made by Mercedes-Benz.Under the original equipment tire (OET) arrangement, Hankook will supply eight types of its AH11 and DH05+ products for the light-to-medium trucks made by the German automotive company.The latest deal comes after Hankook started supplying tires for Freightliner brand trucks in North America in 2012. Freightliner is a marque of Stuttgart-based Daimler
Nov. 13, 2014
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KT rolls out LTE service in Rwanda
KT Corp., South Korea's No. 2 mobile carrier, said Thursday it has successfully established a long-term evolution (LTE) network in Kigali, adding it will continue its efforts to expand the coverage across the African country.The remark came seven months after the Olleh Rwanda Network, a joint venture between KT and the Rwandan government, commenced its project to build a LTE infrastructure in the capital of Rwanda in April.The network will be distributed to the main three Rwandan mobile carriers
Nov. 13, 2014
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Korea’s growing reliance on China poses risk
South Korea’s recent free trade deal with China was not all good news, experts said, warning that the nation’s reliance on the Chinese economy would rise to excessive levels.Earlier this year, Korea and China agreed to allow direct trading between the won and yuan starting in December to encourage Korean businesses to trade in the Chinese currency.And now, the two sides have signed a historic free trade agreement that will eliminate tariffs on key bilateral export items.A stronger relationship w
Nov. 12, 2014
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Hyundai Heavy signs W2tr UAE deal
Hyundai Heavy Industries vice president Kim Jong-do (second from right) shakes hands with Ali R. Al-Jarwan (second from left), CEO of ADMA-OPCO, an Abu Dhabi-based marine operating company, after signing a 2.1 trillion won offshore construction project deal in Abu Dhabi, UAE, Tuesday. (Hyundai Heavy)Hyundai Heavy Industries, the world’s largest shipbuilder, has inked a 2 trillion won ($1.94 billion) contract to develop Abu Dhabi’s Nasr oil field, the company said Wednesday.Hyundai signed the dea
Nov. 12, 2014
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Hyundai Motor bets on green cars for growth
The hydrogen tank cover on a Hyundai Tucson fuel cell vehicle is seen at the 2013 LA Auto Show. (Bloomberg)Hyundai Motor Group has pledged to bolster its green car business with a midterm goal of becoming one of the world’s top two carmakers in this segment by 2020. “Under the midterm roadmap for the green car business, the group will achieve a full lineup of eco-friendly vehicles and increase the number of green car models to 22 from the current seven by 2020,” the carmaker said in a press rele
Nov. 12, 2014
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KOMIPO inks coal supply deal with Russian mining company
Korea Midland Power Co. CEO Choi Pyeong-rak (left) poses with Alexey Danilov (right), CEO of Carbo One, after signing the deal.Korea Midland Power Co., a power generation subsidiary of the state-run Korea Electric Power Corp., said Tuesday that it signed an agreement with Carbo One, the second-largest mining company in Russia for a long-term purchase of coal and a preferential coal supply. For a three-year period, KOMIPO will be supplied with 280,000 tons of high-grade coal every year, with the
Nov. 12, 2014
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Samsung heirs to hit jackpot from SDS listing
The three heirs to South Korea’s largest family-run conglomerate Samsung Group stand to make astronomical gains from their shares in group affiliate Samsung SDS Co. to be listed later this week, according to industry sources on Wednesday, giving them the cash resources to inherit the business from their father whose health has recently deteriorated.In early 1999, Samsung SDS, which offers IT services for Samsung Group companies, sold bonds with warrants to chairman Lee Kun-hee’s children at a pr
Nov. 12, 2014
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SK E&C starts thermal power plant project in Chile
SK Engineering & Construction, a leading South Korean builder, said Wednesday it has started work on constructing a $1.2 billion thermal power plant in Chile.The project near the Mejillones region, 1,200 kilometers north of Santiago, includes building two 375 megawatt coal-fired generators. The power plant, once it goes online in December 2018, will be the largest of its kind in the South American country. The plant will provide electricity to nearby mines and to a local electric power company f
Nov. 12, 2014
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Hanwha director wins public relations award
Hanwha Group director Kang Ki-sooHanwha Group’s public relations director Kang Ki-soo was named Public Relations Person of the Year by the Korea Public Relations Association last week, the organization said Wednesday.As the head of Hanwha’s communications team, Kang contributed to improving the company’s status by partaking in various activities such as media and online promotion, social responsibility activities and cultural art support programs, the association said. The director also served a
Nov. 12, 2014
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Hyundai, Kia aims to have 22 green cars in its vehicle lineup by 2020
Hyundai Motor Co. and its corporate cousin Kia Motors Corp. said Wednesday they will triple the number of green cars in their vehicle lineup to 22 by 2020.The two companies, flagships of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, said they will seek to field hybrid, plug-in hybrid, electric and fuel cell vehicles, ranging from small mini passenger cars to SUVs in the coming years.By enhancing performance in all areas, Hyundai and Kia will aim to become the world's se
Nov. 12, 2014
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Samsung owner family hits jackpot from Samsung SDS listing
The three heirs to South Korea's largest family-run conglomerate Samsung Group stand to make astronomical gains from their shares in group affiliate Samsung SDS Co. to be listed later this week, according to industry sources on Wednesday, giving them the cash resources to inherit the business from their father whose health had recently deteriorated.In early 1999, Samsung SDS, which offers IT services for Samsung Group companies, sold bonds with warrants (BW) to Chairman Lee Kun-hee's children at
Nov. 12, 2014
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SK E&C starts thermal power plant project in Chile
SK Engineering & Construction Co.(SK E&C), a leading South Korean builder, said Wednesday it has started work on constructing a US$1.2 billion thermal power plant in Chile.The project near the Mejillones region, 1,200 kilometers north of Santiago, includes building two 375 megawatt coal-fired generators. The power plant, once it goes online in December 2018, will be the largest of its kind in the South American country. The plant will provide electricity to nearby mines and to a local electric p
Nov. 12, 2014
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Sony Pictures to withdraw from S. Korean market
Sony Pictures will end its direct movie distribution business in South Korea this year, 24 years after its entry into the local market, the company's local unit said Wednesday."We're going to engage in the film distribution business in South Korea till the year's end according to the decision by the U.S. headquarters," Sony Pictures Korea said in a release."Fury," an American war movie starring Brad Pitt, is expected to be Sony's last Korean release.After the closure, United International Pictur
Nov. 12, 2014
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Watchdog mulls legal action against Hyundai Motor on auto
The South Korean financial watchdog is mulling taking legal action against auto giant Hyundai Motor Co. for abusing its market power in negotiations over card fees with a local credit card company, financial officials said Wednesday, fueling controversy over a car purchasing system adopted only in the country. Hyundai and Kookmin Card Co., the second-largest credit card issuer by market share, have been in talks for more than a month to reset the card fee rates that the carmaker has to pay to th
Nov. 12, 2014
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LG Electronics debuts smartphone with ‘looks’
AKA phone lineup. (LGE)LG Electronics unveiled Tuesday a new handset that comes with unique casings showing facial expressions as part of a push to woo younger consumers. The AKA phone, named after the acronym for “also known as,” is now available for purchase through three local mobile carriers: SK Telecom, KT and LG Uplus, the company said in a statement. The 5-inch handset comes with four different casings, each of which has its own character, name and color: affectionate Eggy in yellow, shor
Nov. 11, 2014
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Hyundai Motor to buy back W450tr of shares amid stock slump
Hyundai Motor, South Korea’s top automaker, said Tuesday it would buy back 450 billion won ($413.6 million) worth of shares in the next three months to prop up its stock price, after hitting lows not seen in years due to a grim outlook and a pricey land deal. In a regulatory filing, the automaker said it would buy common shares worth 366.8 billion won and preferred shares worth 82.3 billion won to “increase shareholder value.”Kia Motors, Hyundai’s affiliate, also announced it would repurchase sh
Nov. 11, 2014
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IBK spurs entry into technology financing
The Industrial Bank of Korea said Tuesday that it hosted a two-day internal workshop called “IBK tour for technology financing,” aimed at discussing technology’s impact on the finance sector and finding business opportunities in the field.On Monday, the bank met with its corporate clients, including ATKO Planning, an eco-material company, and Meta Boimed, a surgical materials producer, to both of which the bank offered technology financing. Industrial Bank of Korea CEO Kwon Seon-joo (right) pro
Nov. 11, 2014
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Philip Morris donates van to cultural institute
Philip Morris Korea said on Tuesday that it had donated a 12-seat van to a cultural institute in Gwangmyeong City, Gyeonggi Province, as part of its social responsibility activities.The institute will use the van to support its cultural programs for the local community.“We hope the donated van can be of help to improve the quality of life of people in the community and offer residents a chance to take part in various cultural programs,” a company official said.The firm has been supporting local
Nov. 11, 2014
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Brokerage houses’ net nearly triples in Q3
South Korean brokerage houses saw their net income almost triple in the third quarter from three months earlier on a rise in bond investment derived from low interest rates, the financial watchdog said Tuesday.The combined net profit of 59 local securities firms came to 814.5 billion won ($749 million) in the July-September period, compared with 276.3 billion won the previous quarter, according to the Financial Supervisory Service.For the first nine months of the year, the net income totaled 1.4
Nov. 11, 2014
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Seoul Square wins top U.S. green building certification
An exterior view of Seoul Square building in Jung-gu, Seoul. (Seoul Square)Seoul Square, a prime office building owned by KR1 CR-REIT and located in Jung-gu, central Seoul, has become Korea’s first building to attain the Platinum Certification of Leadership in Energy and Environmental Design, or LEED, one of the industry’s top honors awarded by the U.S. Green Building Council.Until the 1970s, the 23-story building, formerly known as the Daewoo Building, was the tallest building in Korea. Followi
Nov. 11, 2014