Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Tensions heighten ahead of first president-opposition chief meeting
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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[Weekender] How DDP emerged as an icon of Seoul
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Big businesses plan to invest more this year
SEOUL, Oct. 13 (Yonhap) -- South Korea's 600 largest conglomerates plan to increase investments by 13.7 percent in 2011 but actual spending may be cut due to the global economic slowdown, a poll showed Thursday.The survey conducted by the Federation of Korean Industries (FKI) showed local businesses
Oct. 13, 2011
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KORUS FTA big boon to S. Korean auto parts makers
SEOUL, Oct. 13 (Yonhap) -- South Korean auto parts makers are expected to benefit the most from the implementation of a free trade pact between South Korea and the United States, analysts said Thursday.The U.S. Congress approved the bilateral free trade agreement(FTA) on Wednesday, which is expected
Oct. 13, 2011
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BlackBerry outages spread to North America
NEW YORK (AP) _ BlackBerry users across the world were exasperated Wednesday as an outage of email, messaging and Internet services on the phones spread to the U.S. and Canada and stretched into the third day for Europe, Asia, Latin America and Africa. A dummy BlackBerry handset stands at a shop in
Oct. 13, 2011
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KEB sale to gather pace as Lone Star gives up appeal
SEOUL, Oct. 13 (Yonhap) -- Lone Star Funds' decision not to appeal a Seoul court verdict is expected to speed up the U.S. buyout fund's long-stalled plan to sell its controlling stake in Korea Exchange Bank (KEB), clearing legal uncertainties that have blocked the sale, market watchers said Thursday
Oct. 13, 2011
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Tax breaks to boost electric car sales
The government proposed on Wednesday tax cuts worth up to 4.2 million won ($3,600) for purchasers of electric vehicles, as part of its bid for next-generation transportation that is convenient, affordable and energy-efficient.Starting next year, all electric car buyers will receive a 5-percent reduc
Oct. 12, 2011
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Demand for smartphone DRAMs to spike
Demand for dynamic random access memory devices for smartphones are expected to outdo the overall DRAM market and post a triple-digit annual growth this year, an industry report said Wednesday.DRAM shipments in smartphone handsets are forecast to grow 164.4 percent in 2011 from last year, according
Oct. 12, 2011
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Seoul to reduce rice production land
South Korea will continue to reduce its farming area for rice next year, the agriculture minister said Wednesday, despite earlier forecasts the country’s rice harvest this year will fall to the lowest level in 31 years. The government “plans to reduce the area for rice farming by 40,000 hectares nex
Oct. 12, 2011
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Conglomerates help SMEs enter overseas markets
International expansion for SMEs emerges as new engine of shared growthShared growth between large companies and small- and medium-sized enterprises is one of the current administration’s main economic policies.Many of the country’s largest businesses have taken up the cause and now operate a number
Oct. 12, 2011
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FTC warns against fraud on social commerce sites
The Fair Trade Commission on Wednesday warned consumers to take extra care when purchasing products through social commerce websites. Social commerce, through which consumers can enjoy discount deals online, has grown rapidly into a 500 billion won market in Korea. FTC chairman Kim Dong-soo (Y
Oct. 12, 2011
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Smart Korea shows off the nation’s IT progress, prowess
Visitors look around the booths of participating companies at KINTEX in Goyang, Gyeonggi Province, on Wednesday. (Park Hae-mook/The Korea Herald)Smart Korea 2011 on Wednesday kicked off its four-day run to show off the nation’s IT progress over the past year. The nation’s largest IT exhibition, mark
Oct. 12, 2011
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Kakao Talk to evolve into real-time service platform
Company’s CEO determined to take lead in platform creationKakao Talk said Wednesday that it will evolve into a real-time mobile messaging platform, moving a step further from being merely a free mobile messaging service. Kakao Talk CEO Lee Jae-beom speaks at a press conference on Wednesday. Yo
Oct. 12, 2011
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Gasoline cars sales up despite high fuel prices
SEOUL, Oct. 12 (Yonhap) -- Sales of gasoline-powered cars in South Korea rose this year from the previous year despite high local fuel prices, an industry report showed Wednesday.The Korea Automobile Manufacturers Association (KAMA) report showed that in the first eight months of the year 67.5 perce
Oct. 12, 2011
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SKT, SNU Hospital join hands for health care
New joint venture expected to be launched this yearSK Telecom, the country’s largest mobile carrier, said Tuesday that the company and Seoul National University Hospital recently agreed to establish a joint venture involving health care.The new joint venture is expected to lead the future health car
Oct. 11, 2011
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SK Planet aims to go global,...achieve W3.5tr sales in 2016
New subsidiary of SK Telecom to go overseas with focus on Asian marketsSK Planet, a new platform subsidiary of the country’s top mobile carrier, said Tuesday it aimed to make the company worth 5 trillion won ($4.29 billion) within the next five years.In its first press conference, the firm’s chief e
Oct. 11, 2011
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New KOTRA chief vows to help SMEs boost exports
The new head of the Korea Trade-Investment Promotion Agency pledged on Tuesday to open the door to exports for small- and medium-sized enterprises as he laid out his company’s roadmap for the next three years.Hong Suk-woo, an ex-chief of the Small & Medium Business Administration, took office at the
Oct. 11, 2011
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Hallyu stars boost food brand sales in Korea
VIPS, a local steakhouse chain owned by CJ Foodville, has seen a 30 percent increase in its sales since singer/actor Rain became a commercial model for the company in July. “Many of the new customers are Rain’s fans from China and Japan who have watched the TV commercials through YouTube,” said a CJ
Oct. 11, 2011
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Luxury brands probed over commission charges: FTC
The Fair Trade Commission said Tuesday that it has launched an investigation into major local and foreign brands sold at the so-called “Big Three” department stores in the nation. The probe started as part of the antitrust regulator’s determination to root out unfair business activities in the retai
Oct. 11, 2011
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STX eyes $200m sales from Indonesian coal mine
STX Corp. plans to increase revenues generated from its coal mine in Indonesia to $200 million next year, and push up the mine’s output to 5 million metric tons by 2013.STX Corp. acquired 40 percent of the mine from the Indonesian mining firm PT Indoasia Cemerlang at the beginning of the year for $3
Oct. 11, 2011
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Apple says pre-orders of iPhone 4S break record
NEW YORK (AP) -- Apple says first-day pre-orders of the iPhone 4S topped 1 million, breaking the record set by last year's model. Apple CEO Tim Cook talks about the iPhone 4S during an announcement at Apple headquarters in Cupertino, Calif., Tuesday, Oct. 4, 2011. (AP-Yonhap News)Apple Inc. an
Oct. 11, 2011
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SC First Bank set to drop Korean name
Standard Chartered First Bank will drop the “First” from its name, becoming Standard Chartered Bank within this year, the bank said Monday. “It’s not going to happen within this month, but we plan to change the bank’s name before the end of the year,” the bank’s Seoul official said Monday.The change
Oct. 10, 2011