Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Sales at discount outlets rise in June
Sales at Korea’s major discount outlets and department stores rose from a year earlier in June on growing demand for groceries and goods for outdoor activities, a government report showed Thursday.Combined sales of the country’s three major discount outlets rose 2.7 percent in June from the same period last year with those of three leading department stores rising 8.2 percent on-year, according to
July 14, 2011
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POSCO to buy shares in Canadian coal mine
POSCO, Korea’s leading steelmaker, said Thursday that its Canadian unit will set up a joint venture with Canada’s Fortune Minerals Ltd. to acquire a stake in a Canadian coal mine development project.POSCO said that POSCO Canada Ltd. will invest a total of 181 million Canadian dollars ($189 million) for a 20 percent stake in the Mount Klappan coal project. POSCO will pay 30 million Canadian dollars
July 14, 2011
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Philip Morris Korea sponsors environment campaign
The non-governmental organization Beautiful Community Forum announced Thursday that it will host photo and sculpture exhibitions as part of the 2011 Philip Morris Korea Clean Beach Campaign.The exhibitions will be at Sokcho Beach in Gangwon Province and Hamdeok Beach in Jeju from July 30 through Aug. 1 to raise awareness for preservation of sea resources.For the photo exhibition, the forum is hold
July 14, 2011
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Overseas tax dodgers targeted in probe
The National Tax Service said Thursday that it would launch a large-scale investigation into offshore bank accounts with lump-sum deposits this year. “The agency’s crackdown on tax evasion using tax havens abroad has seen some achievements in the first half of the year,” said an NTS official. “In the second half, we will step up efforts to probe further into people who have deposited more than 1 b
July 14, 2011
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eBay agrees to fair online trade
The nation’s antitrust watchdog and eBay Inc. signed Thursday an agreement for fair trade in the growing online ecommerce market ― the first of its kind here. The U.S.-based company, which owns Gmarket and Auction, the nation’s No. 1 and No. 2 online marketplaces, will adopt a “Consumer Complaints Management System” to better protect consumer rights, the Fair Trade Commission said.The agreement ca
July 14, 2011
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Kyobo Life products offer monthly annuity for life
Kyobo Life Insurance, Co., the nation’s third largest insurer, launched a product offering monthly annuities for those looking to secure a stable income stream until retirement. The product, dubbed the Kyobo Premier Variable Whole Life Insurance, differs from other whole life insurance in that it provides monthly annuities for the family even after the subscriber dies. It protects the family again
July 14, 2011
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Innovation and collaboration fuels Korea Post’s express service
Introduced in 1979, the volume of packages moved through Korea Post’s express mail service or EMS has grown rapidly fueled by increasing exchange with other nations.According to Korea Post, the number of EMS packages sent abroad in 1979 numbered 600, but the figure soared to over 6 million last year, with revenues generated from the service reaching 243.4 billion won ($230 million). Kim Myong-ryo
July 14, 2011
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Korea Post improving services in globalizing world
CEOs of global 10 postal services discuss strategies to strengthen cooperation in BarcelonaKorea Post is stepping up efforts to improve the quality of international delivery services in collaboration with other national postal service providers.On Wednesday, the Kahala Posts Group ― an association of 10 postal services ― held a strategy meeting in Barcelona, where the attending chief executives of
July 14, 2011
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Market needs still more oil in Q3: IEA
PARIS (AFP) ― The oil market still needs more supplies for the third quarter of the year, the International Energy Agency warned on Wednesday, despite an official stock release and increased OPEC production.“Major producers have recognized that demand for their oil is rising ... as economic growth and short-term fuel substitution keep global and emerging market demand growth robust,” the IEA said
July 14, 2011
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Amazon planning iPad rival by October: WSJ
Online retail giant Amazon plans to unveil a tablet computer before October in a bid to carve out a slice of a growing market dominated by Apple's iPad, The Wall Street Journal reported Wednesday.The newspaper, citing "people familiar with the matter," also said Amazon plans to release two updated versions of its Kindle electronic reader in the third quarter of the year.The Journal said the tablet
July 14, 2011
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Hyundai, Kia ranked as top passenger car brands in Canada
South Korea's Hyundai Motor Co. and its sister company Kia Motors Corp. ranked as the best-selling passenger carmakers in Canada in the first half of this year, industry sources said Thursday.The two leading automobile makers in South Korea sold a combined 64,671 passenger cars in the North American country in the January-June period for a market share of 18.2 percent, according to the sources.The
July 14, 2011
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New rules devised to prevent fraud by bloggers
Online users, mostly so-called “power-bloggers” who post product reviews in return for benefit will be obligated to disclose their contract details starting July 14, the state-run antitrust regulator said Wednesday. In short, the users must reveal that their reviews were a part of a business deal with specific companies. If they fail to disclose such facts, the firms they signed on to issue the re
July 13, 2011
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GM Korea agrees on record bonus to settle labor strike
GM Korea, the third-largest carmaker in Korea, said it agreed Tuesday to give out a record bonus of 7 million won ($6,616) in additon to a 4.7 percent salary raise for its workers.“Management and the union were able to reach a compromise on Monday. But this is a tentative agreement which will be finalized tomorrow,” Kim Sung-soo, a spokesperson at the company said. “We need the majority (of the un
July 13, 2011
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Samsung paying the price with Apple feud: Ahn
Samsung is no match for Apple, IT guru Ahn Cheol-soo said in a recent interview with The Korea Herald, stressing that Samsung is paying the price for failing to create and encourage original platforms. “The vibes we are getting from abroad on the situation are quite different from what we are feeling in Korea,” Ahn said. Apple and Samsung are currently embroiled in a bitter legal dispute over lice
July 13, 2011
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Kimberly-Clark plans innovation center here
U.S. company says Korea is at the forefront of technologies and inventionsKimberly-Clark Corporation said Wednesday that it will establish its first overseas global innovation center in Korea as early as January.The U.S. households and personal care products manufacturer has already been operating its only Innovation Center Asia in Giheung, Gyeonggi Province, since 2007. While the current center w
July 13, 2011
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Woori’s global ranking highest among lenders
Woori Finance Holdings Co., South Korea’s No. 2 banking group, ranked 72nd last year on the list of the world’s 1,000 largest lenders by core capital, the highest spot among local lenders, the central bank said Wednesday.A total of nine South Korean banks made the list last year, the same number as the year before, the Bank of Korea said in a report based on the July edition of The Banker magazine
July 13, 2011
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CJ O launches channel in China
CJ O Shopping said Wednesday that its Chinese joint venture launched its second home shopping channel in China and started digital broadcasts.Dongbang CJ, the joint venture with Shanghai Media Group in China, has acquired channel number 20 and broadcasts its home shopping programs digitally around the clock to 2.5 million digital cable TV viewers in Shanghai, according to CJ O Shopping, formerly C
July 13, 2011
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Trade pact to give Korean drinkers more choices for less
European distilleries and wineries set out to aggressively tap the local market as a free trade agreement with Korea began scrapping tariffs on alcoholic beverages.Although the markets for wine and whisky have been booming in recent years here, heavy duties on imported bottles have limited choices of local drinkers. Under the deal, 15 percent tariffs on wine were removed on July 1, the first day o
July 13, 2011
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N.Y. college Incheon campus OK’d
SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i
July 13, 2011
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SK Innovation given green light to sell Brazil venture
The Brazilian government approved the sale of SK Innovation’s Brazilian subsidiary to Denmark’s Maersk Oil, the Korean refiner announced Wednesday.The deal, which the company plans to close within one month, was first signed with the Danish firm in December and will see SK Innovation handing over its Brazilian subsidiary, SK do Brasil, to Maersk Oil for $2.4 billion.SK do Brasil was established in
July 13, 2011