Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Telecoms irked by free text plan
Regulator under fire for not consulting industry playersThe government’s latest hints that it might try to offer text messaging for free were met with fierce protests from local telecom operators, according to industry watchers. KT Corp., SK Telecom and LG Uplus all appeared to be upset by recent remarks from Choi See-joong, chairman of the Korea Communications Commission, who told lawmakers Wedne
April 14, 2011
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Apple’s white iPhone coming in ‘weeks’
Apple Inc. will begin selling a white model of the iPhone 4 in the next few weeks after a 10- month delay, according to three people familiar with the plans. The new version will be available from AT&T Inc. and Verizon Wireless by the end of April, said one of the people, who asked not to be identified because the plans aren’t public. The release was stalled as Apple resolved manufacturing challen
April 14, 2011
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Hyundai to offer auto finance in U.K., Brazil
Hyundai Motor Group chairman Chung Mong-koo (right) greets Banca Sandanter’s chairman Emilio Botin at the carmaker’s office in Seoul on Wednesday. (Hyundai Motor Group)Hyundai Motor Group will set up auto-financing firms in Brazil and the U.K. in collaboration with Spain-based Banco Santander.Banco Santader is Europe’s largest commercial bank with more than 86 million customers. Hyundai Motor chai
April 13, 2011
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Naver, Daum consider suing Google over mobile search
Korea’s leading portals Naver and Daum, said they would file a complaint to the Fair Trade Commission against Google as early as this week.“We’ve been on the same page on the issue and we’re currently considering asking state authorities to conduct an investigation against Google,” said Daum’s spokeswoman Jung Ji-eun. “We will make the final call (whether to submit the complaint) as early as this
April 13, 2011
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Foreign carmakers make paltry donations
Foreign carmakers made relatively small donations to social causes despite massive improvements in financial figures, data showed Wednesday.According to regulatory filings from the country’s top three foreign carmakers ― BMW Korea, Mercedes-Benz Korea and Audi Volkswagen Korea ― their sales and profits saw significant improvements from 2009.BMW Korea was the top-performing foreign carmaker last ye
April 13, 2011
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Online luxury shops challenge retail giants in growing market
The introduction of new online retail channels is expected to expand the size of the local luxury retail industry appealing to an increasing number of younger shoppers with affordable price and convenience, industry watchers said. Yet they face fierce competition from the market-dominant retail giants and are to overcome credibility concerns typically associated with e-commerce in the country. Wit
April 13, 2011
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Samsung to offer W610b support to vendors
Korea’s biggest conglomerate issues public pledge aiming to prop up partner firmsSamsung Group on Wednesday pledged a number of measures including a 610 billion won ($558.7 million) fund, patent rights and improved payment systems to help promote growth in its smaller vendors and suppliers. Samsung signed an agreement at its Seocho headquarters outlining these and other efforts to become the secon
April 13, 2011
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IEA warns oil prices could hit growth
'Oil prices above $100 hurt global economy, demand outlook stable'The International Energy Agency maintained its outlook for global oil demand in 2011, while warning that prices above $100 a barrel are starting to hurt the global economy. Worldwide oil consumption will increase by 1.4 million barrels a day, or 1.6 percent, this year to average 89.4 million a day, the Paris-based adviser said Tuesd
April 13, 2011
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Kim named new Korea Post head
Korea Post named Kim Myong-ryong, 54, the organization’s former director of strategy and management, its new president, the Ministry of Knowledge Economy said Monday. Kim Myong-ryongKim is an experienced public administrator whose career background covers multiple positions at the knowledge economy ministry ― formerly Ministry of Information and Communication ― and Korea Post.Born in Seoul, Kim e
April 12, 2011
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Shinsegae upscale outlet faces curbs
Shinsegae Corp.’s new premium outlet in Paju, north of Seoul, could face government restrictions after smaller retailers protested that it hurts their businesses.The Small and Medium Business Administration launched an inquiry on Monday to determine the scale of damage sustained by small- and medium-sized discount outlets in the area since Shinsegae Chelsea opened on March 18.The smaller stores cl
April 12, 2011
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Hyundai begins work on 3rd blast furnace
Hyundai Motor Group’s steelmaker Hyundai Steel broke ground for the third blast furnace at its integrated steelworks in Dangjin, South Chungcheong Province on Tuesday.The company is injecting 3.26 trillion won ($2.89 billion) into the project, which is scheduled for completion in September 2013.The furnace will have an annual production capacity of 4 million metric tons, pushing the facility’s out
April 12, 2011
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First Korean 3-D animation to be released in Canada
Korea’s first 3-D animation movie “Bolts & Blip” will be released on DVD in Canada later this year, its producer Redrover said.The company signed a copyright deal with Canadian home entertainment group Nelvana last week at MIPTV 2011, the world’s largest entertainment content market in Cannes, France. Set on the moon in 2080, the comedy follows the adventures of two misfit robots, Bolts and Blip.I
April 12, 2011
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Apple to stay ahead in tablet boom: Gartner
April 12, 2011
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Cyworld back in the game with robust profit
Korea’s SNS pioneer plans to regain lost glory with mobile apps, acornsCyworld, in many ways a Korean pioneer in social networking services, is back with a vengeance this year on the back of robust “acorn” sales and closer collaboration with up-and-coming technology. Acorn ― “dotori” in Korean ― is the unit of virtual money that Cyworld users spend on all sorts of items for decorating and personal
April 12, 2011
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U.S. fast-food chains bet on India to drive growth
April 12, 2011
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Toyota: Summer car shortage possible
April 12, 2011
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Fed to stick with low rates, despite oil rise
April 12, 2011
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[Meet the CEO] Nespresso shapes Korean espresso culture
Nespresso is confident that booming enthusiasm for coffee among Koreans and the surging popularity of homemade espressos will continue to shore up its brisk sales growth in the market, the chief of Korean operations said.Since the coffee business unit of Swiss food giant Nestle launched its single-serve “coffee capsules” in December 2007, it has led the local portion coffee market which has been e
April 12, 2011
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Kakao Talk looks to overseas expansion
Popular mobile messenger service breaks threshold of 10 million downloadsKakao, a venture firm that invented the popular mobile messenger app Kakao Talk last year, announced Monday that it will branch out to overseas markets this year with the aim of garnering 100 million downloads.In a press conference celebrating more than 10 million registered Kakao Talk users, its founder Kim Beom-su said the
April 12, 2011
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Builders’ domestic orders tumble in Feb.
Domestic orders of Korean builders plunged 17 percent in February from a year earlier due to a prolonged slump in the local property market and a drop in orders from the public sector, a trade association said Monday. The local builders’ domestic orders came to 5.09 trillion won ($4.69 billion) in February, compared with 6.15 trillion won tallied a year earlier, the Construction Association of Kor
April 12, 2011