Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Dairy companies fined for price rigging
Firms met regularly to fix cheese prices, antitrust watchdog saysThe nation’s four major dairy companies were fined a combined 10.6 billion won ($9.8 million) for fixing prices of their cheese products, the antitrust agency said on Sunday. Seoul Milk, Maeil Dairies Co., Namyang Dairy Products Co. and Dongwon Dairy Foods were subject to the penalties, the Fair Trade Commission said. Seoul Milk was
June 26, 2011
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POSCO wins corporate governance award
POSCO, the world’s fourth-largest steelmaker, has been named the company with the best corporate governance structure in Korea.According to the steelmaker, it was so named by the Corporate Governance Service and the Korea Exchange on Friday.The company added that its filling of the audit committee with outside directors and other activities giving enhanced independence to auditors also contributed
June 24, 2011
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KT told not to dump 2G phone users
The Korea Communications Commission turned down Friday KT Corp.’s proposal to end services for feature phone users by the end of this month.The state telecom regulator said it would defer giving the green light to KT’s scheme which would force what KCC cited as its remaining 810,000 2G mobile phone users to adopt 3G smartphones by the first half of this year.“Let’s put it off the discussion agenda
June 24, 2011
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SK telink barred from MVNO market
Subsidiary firms of Korea’s mobile carriers are expected to meet resistance in joining the market for mobile virtual network operators as the state watchdog appears wary of letting them do so.In its general meeting on Friday, the Korea Communications Commission agreed to recommend that SK telink, a subsidiary of market leader SK Telecom, hold back from entering the MVNO market.SK telink, a firm in
June 24, 2011
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EUCCK calls for non-tariff barrier removal
The European Union Chamber of Commerce in Korea is turning up the heat on the Korean government to reduce non-tariff barriers and modify regulations to align them with international standards.On Friday, a week ahead of the tentative implementation of the Korea-EU free trade agreement, the EUCCK published a report outlining non-tariff issues regarding access to the Korean market in 20 categories. S
June 24, 2011
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Politicians, tycoons in feud over testimony
Friction between politicians and the business community is escalating, fueled by the National Assembly’s plans to call Federation of Korean Industries chairman Huh Chang-soo and other top businessmen to its hearings.At a press conference Tuesday, Huh said that he was opposed to the plans to remove tax benefits for businesses. He criticized policies such as halving university tuition fees as impuls
June 23, 2011
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Korea to foster local growth engine sectors
The government said Thursday it plans to boost support for growth industries in the country’s provincial metropolitan areas by injecting 285 billion won ($265 million) this year.The program is the latest in a string of projects that the Ministry of Knowledge Economy has pushed since 2009 to develop regional technology hubs.Under the plan, the ministry will fund nearly 20 billion won this year for
June 23, 2011
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HTC unveils first 4G phone, tablet
HTC on Thursday unveiled its EVO 4G smartphone and Flyer 4G tablet, the first fourth-generation smart devices to hit the nation. Starting July 1, the Taiwan-based smartphone maker will be distributing the phones via KT Corp. Prices have yet to be set. Both the phone and the tablet will be capable of transmitting data at up to three times as fast as current smartphones, HTC said. HTC unveils its EV
June 23, 2011
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Business leaders call for lower taxes
Local chambers of commerce join to press government to stick to tax policyRepresentatives of one of the nation’s top private economic organizations on Thursday called for the government and politicians to stay committed to tax reduction to help the corporate sector. “Tax reduction is necessary to enhance corporate competitiveness and attract foreign capital,” the heads of the country’s 71 regional
June 23, 2011
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Global chip market forecast to grow 7.2%
The worldwide semiconductor market is forecast to expand 7.2 percent in 2011 from last year, driven by robust demand for smartphones and tablet PCs, a market researcher said Thursday.Revising up its earlier forecast, IHS iSuppli estimated that global semiconductor revenues will reach $325.9 billion this year, compared with $304.1 billion in 2010. It previously estimated 7 percent annual growth.The
June 23, 2011
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Samsung launches Galaxy S2 in Japan
Samsung Electronics Co., the world’s No. 2 mobile-phone maker, said Thursday that it has released the Galaxy S2 smartphone in Japan through the country’s largest mobile carrier, hoping to build on the popularity of its earlier model. NTT DoCoMo Inc. has started sales of Samsung’s latest Android smartphone earlier in the day, Samsung said in a statement. The Korean company added that the latest Gal
June 23, 2011
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LG-Ericsson aims for sales peak
LG-Ericsson said Thursday that it hoped the launch of its Long Term Evolution network would give it the top spot in the country’s telecommunications industry.Lee Jae-ryung, chief executive officer of LG-Ericsson, said that the company expects to surpass its peak sales figure of 1.1 trillion won recorded in 2008 with the nationwide introduction of fourth generation LTE networks.“It’s difficult for
June 23, 2011
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Nexon, CJ E&M sign publishing agreement for Sudden Attack
Online game publishing companies Nexon and CJ Entertainment and Media agreed Tuesday to jointly publish the popular Sudden Attack from July 11.People will be able to access the free-to-play first person shooter game on both CJ E&M’s Netmarble and Nexon’s platforms until July 10, 2013, officials at Nexon said.The agreement was signed after debate was sparked on May 30 when CJ E&M began publicizing
June 23, 2011
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Sony Ericsson eyes Android market with new phones
SINGAPORE (AP) ― Mobile phone maker Sony Ericsson unveiled two new Android models Wednesday in a bid to grab more of the burgeoning smartphone market.The company, a joint venture between L.M. Ericsson and Sony Corp., plans to launch the Xperia ray and Xperia active models during the third quarter, Chief Marketing Officer Steve Walker announced in Singapore. A staff member submerges the Xperia Acti
June 23, 2011
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Hong named new head of KOTRA
Hong Suk-woo, a former chief of the Small & Medium Business Administration, has been named new president of the Korea Trade-Investment Promotion Agency, the trade agency said Wednesday.Hong, 58, will supervise the agency’s overall business and shore up overseas operations, concentrating on “globalizing small-and medium-sized firms to steer the era of $1 trillion trade,” KOTRA said in a statement.
June 22, 2011
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GS Caltex dips into state oil reserves
GS Caltex Corp., the nation’s No.2 oil refiner, on Wednesday said it has borrowed 870,000 barrels of diesel oil from reserves kept by the Korea National Oil Corp. This marks the first time in three years that the refiner has dipped into government fuel reserves.The borrowed fuel is expected to be released at local gas stations next week. GS Caltex has recently been unable to properly provide to ga
June 22, 2011
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POSCO unit signs housing-compound project in Russia
POSCO announced Wednesday that its construction subsidiary POSCO A&C signed a contract to build a housing complex for a coalfield in Sakha Republic in eastern Russia.Under the contract, issued by Russia’s largest resource developer Mechel, POSCO A&C will build a 48,000 square meter housing compound for workers at the Elga coalfield in Sakha Republic.POSCO A&C plans to begin works on the compound i
June 22, 2011
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K-sure named best Asian export creditor
The Korea Trade Insurance Corporation, known as K-sure, said Tuesday it has been selected as the best Asian export credit agency by the U.K.-based Trade Finance Magazine.K-sure is one of the country’s two export-import insurance agencies other than the Export-Import Bank. It provides insurance products and project financing and issue bonds to exporters for their shipment, overseas construction wor
June 22, 2011
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CEO pizzas charm 1,000 LGE employees
LG Electronics Vice Chairman and CEO Koo Bon-joon has sent out “CEO pizzas” to up to 1,000 employees to help boost morale, the Seoul-based electronics maker said on Wednesday.The latest batch of pizzas, sent out by Koo to express his affection for the LGE staff, were delivered on Tuesday to LG Electronics’ Air-conditioning and Energy Solution division’s “Chiller” team’s production and R&D units in
June 22, 2011
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Conglomerates set up more units in offshore tax havens
The country’s top 30 conglomerates were found to have set up a spiraling number of overseas corporations in countries without tax treaties with the South Korean government. Lotte Group had the largest number of corporations in such nations overall, according to Chaebul.com, an online portal devoted to analyzing conglomerate activities on Wednesday.As of last year, the conglomerate had 33 such offi
June 22, 2011