Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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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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[Music in drama] An ode to childhood trauma
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New head of doctors' association vows war in case of disadvantage to medical professors
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SKT, STX shares slide on Hynix bid
With little effect expected from acquisition of Hynix Semiconductor, SK Telecom shares fell to the lowest this year on Monday.On Friday, SK Telecom and STX Group submitted letters of intent to acquire the world’s second-largest chip maker Hynix. The 15 percent stake in the chipmaker is expected to fetch around 2.5 trillion won ($2.4 billion). Hynix closed at 26,450 won, down 0.56 percent from Frid
July 11, 2011
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Lee welcomed as victorious Olympian
Samsung Electronics chairman Lee Kun-hee (center) on Monday poses with a bouquet presented by Samsung employees who welcomed him back to work after his trip to South Africa. (Lee Sang-sub/The Korea Herald)Samsung Group owner Lee Kun-hee on Monday was greeted with a warm welcome from Samsung employees for his role in helping PyeongChang City win the bid to host the 2018 Winter Olympics.Around 500 e
July 11, 2011
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KT&G market share nears 60%
KT&G Corp. said Monday that its share in the local market has risen for the second quarter in a row to nearly 60 percent, thanks to robust sales of its new products and price hikes by rival tobacco firms. Korea’s top cigarette manufacturer said its 55.7 percent stake in the fourth quarter last year climbed to 58 percent in the first quarter this year, then to 59.8 percent in the second quarter. It
July 11, 2011
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Porsche supercar seen reviving sales
A Porsche 911 GT2 RS automobile is released to the media on Friday. (Bloomberg)Porsche AG may develop a supercar positioned higher than the 911 GT2 RS to broaden its line-up and sustain growth as orders cool from record deliveries last year. The car could be combined with additional variants of the Cayman and Boxster as well as extended-wheelbase and convertible versions of the Panamera four-door
July 11, 2011
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Aussie firms whinge about carbon tax
Australia’s largest airline says the tax will cost as much as $123 million in 2013Macarthur Coal Ltd., BlueScope Steel Ltd., and Virgin Blue Holdings Ltd. led declines in Australian trading Monday after the government unveiled the country’s first levy on greenhouse-gas emissions. Polluters will pay AU$23 ($24.74) per metric ton of carbon emissions, Prime Minister Julia Gillard said Sunday in Canbe
July 11, 2011
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HC Petrochem begins works to triple capacity
Industry and government officials including Hyundai Oilbank CEO Kwon Oh-gap (sixth from left) and Cosmo Oil CEO Kimura Yaichi (fifth from left) take part in the groundbreaking ceremony for HC Petrochem’s new plant in Daesan, South Chungcheong Province, Friday. (Hyundai Oilbank)HC Petrochem, a joint venture between Hyundai Oilbank Co. and Japan’s Cosmo Oil Co., began work on a new plant that will t
July 10, 2011
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LG’s Cinema 3-D TV ...certified as full HD
LG Electronics’ Cinema 3-D TV was certified as full HD in 3-D mode by VDE, one of Europe’s largest technical and scientific international associations, the Seoul-based company said on Sunday. “This latest certification proves beyond all doubt that LG’s Cinema 3-D TVs, which already provide the most comfortable 3-D viewing experience, deliver 3-D in full HD,” said Havis Kwon, President and CEO of L
July 10, 2011
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Korean outside directors ...make dubious watchdogs
Some draw as much as 97 million won for 10 days of workOutside directors at Korean companies may not be fulfilling their roles despite their handsome salaries.According to the data local firms submitted to the Financial Supervisory Service, some firms paid their outside directors as much as 9.7 million won ($9,200) for each day they spent attending company functions. Outside directors were made a
July 10, 2011
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Deep-pocketed luxury brands skimpy on ...donations
Louis Vuitton and other global luxury goods makers saw their profits soar in South Korea in the last decade but remained reluctant to make social contributions, their financial statements showed Sunday.Louis Vuitton Korea Ltd., a unit of the world’s largest luxury goods maker LVMH Moet Hennessy Louis Vuitton SA, posted higher net profit growth than any other luxury goods maker in South Korea, acco
July 10, 2011
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Woongjin Coway enjoys boon from national health trend
Woongjin Coway Co., already the industry leader in water and air purifiers, is enjoying a second bloom. The Seoul-based company logged sales of 1.51 trillion won ($1.43 billion) and 228.8 billion won of operating profits last year, marking the 12th consecutive year of record-high sales.“In May, we reached record-high sales in just a month. We are entering our second heyday,” Woongjin Coway CEO H
July 10, 2011
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EU law firms poised to enter Korea
Local practices forced to sharpen edge, but experts say legal fees won’t necessarily fallArmed with money and reputation, major European law firms are eyeing the South Korean market gradually opening up with the EU-FTA that came into effect on July 1. Globally renowned firms such as DLA Piper ― the world’s third-largest law firm ― along with Clifford Chance and Allen & Overy are among those lookin
July 10, 2011
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Hyundai launches new Sonata turbo with upgraded performance
SEOUL, July 10 (Yonhap) -- South Korea's leading automaker Hyundai Motor Co. said Sunday that it has launched a new Sonata turbo model with upgraded performance and competitive options designed to meet consumer demands.The new model of the top selling mid-size sedan has a 2.0-liter gasoline direct injection (GDi) engine that produces a maximum horsepower of 271 and 37.2 kilogram-meters of torque.
July 10, 2011
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BAT Korea cuts price of ‘Dunhill SWITCH’
British American Tobacco Korea said it reduced the price of the superpremium “Dunhill SWITCH” by 200 won to 2,800 won ($2.60) from Friday.BAT Korea reportedly said the company took the action in consideration of consumers’ burden on the price of the cigarettes.The company introduced the new brand with “RELOC” inner wrapping on the local market on June 7. (cheesuk@heraldm.com)
July 8, 2011
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KCC officials in U.S. for Apple, Google probe
The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju
July 8, 2011
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From doctor, IT whiz to educator
Ahn Cheol-soo has polled as one of the figures young Koreans most look up to.(Ahn Hoon/The Korea Herald)Ahn committed to planting entrepreneurship in young hopefulsBehind Korea’s leadership in the high-tech world are a number of business innovators, technology wizards and far-sighted investors.Ahn Cheol-soo leads the pack with his success, acumen and a dramatic life story that combined to make him
July 8, 2011
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Consumer demand for white wine soars in H1
(MCT)SEOUL, (Yonhap) -- South Korean demand for white wine jumped in the first half of the year as consumers sought more diversity in their preferred brands, a leading local wine retailer said Friday.Winenara Co. said 17 white wine brands were included among the top 100 best sellers at its nationwide stores in the January-June period, compared with just five a year earlier. The company sold 330,00
July 8, 2011
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U.S. antitrust crackdown costs Korean firms $1.6b
Korean antitrust regulator advises firms to be prudentKorean companies in the United States have paid about 1.7 trillion won ($1.6 billion) in fines for price-fixing and four out of the top 10 highest-paying companies were from Korea, a ranking official of the state-run antitrust regulator said Wednesday.The Fair Trade Commission on Wednesday explained the business environment of the U.S. on collu
July 7, 2011
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BC Card fights back against ‘domineering’ Visa
BC Card Co., a local payment services provider, is stepping up its offensive against Visa, condemning the global credit card giant for pressing unfair business activities onto its Korean partners.On Monday, BC Card filed a report with the Fair Trade Commission over the U.S.-based company’s overseas fee system. “Visa is conducting illegal activities against the Monopoly Regulation and Fair Trade Ac
July 7, 2011
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PyeongChang Winter Olympics to be a massive boost for Korean economy
Banners celebrating PyeongChang’s selection as the host of the Winter Games in 2018 are hung across a road near the Alpensia Resort in PyeongChang on Thursday. (Yonhap News)PyeongChang’s hosting the Winter Olympics in 2018 will bring massive economic benefits for the country.According to estimates based on a report compiled in 2008 by the Korea Institute for Industrial Economics and Trade, hosting
July 7, 2011
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Apple files complaint against Samsung
Apple Inc. has filed a complaint with the U.S. International Trade Commission to block U.S. sales of Samsung Electronics Co.’s smartphones and tablet PCs, escalating the legal tussle between the two mobile giants. Apple’s ITC filing comes less than one week after Samsung filed a similar complaint with the federal agency, seeking to block Apple from importing the iPhone, iPad and iPod Touch product
July 7, 2011