Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Aging population to drive down Korea's housing prices from 2040: experts
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North Korea holds drills simulating nuclear counterattack against enemy
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Hyundai Heavy completes world’s largest gas power plant
Hyundai Heavy Industries announced Sunday that it completed building the world’s largest gas-powered power station in Saudi Arabia.Located in Jubail in Eastern Saudi Arabia, the plant was built as part of a $2.7 billion contract for a power and desalination plant issued by the state-run utilities firm Marafiq in 2007. The contract was awarded to an international consortium composed of Hyundai Heav
April 10, 2011
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Korean firms seek ‘optimum’ bid for Brazil bullet train project
The South Korean consortium bidding for Brazil’s $20-billion high-speed rail service downplayed the impact of its recent loss of construction partners.The group said it is in talks with big-name constructors in Korea such as Hyundai Engineering and Construction and POSCO Engineering and Construction to form a new lineup before submitting its proposal. It is also contacting some large Brazilian con
April 10, 2011
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CJ Cheiljedang to invest W3tr on bio products
CJ Cheiljedang Corp. will spend three trillion won ($2.78 billion) by 2015 on building facilities and an R&D center to make bio products, the food maker said Friday. “We’re making investment into our Asia and North American market where we will invest about three trillion won,” it said. The investment may include building new factories or establishing strategic alliance with food companies abroad,
April 8, 2011
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Home prices, rents grow faster than income
In Korea, it takes more than a decade for the average salaried worker to buy his or her own house, as numerous surveys have shown over the years. But now it looks like renting homes has become equally trying, according to data released by a local property-information portal on Friday. Real Estate Bank said “jeonse” costs are surging as more people opt to rent homes instead of buying them, not to m
April 8, 2011
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N-Screen service becomes popular in one-person-multi-device era
Getting connected to the Web on a smartphone, while simultaneously watching a show on a smart TV is becoming a common scene for many people nowadays as the country enters a “one-person-multi-device era.”The number of people who own multiple smart gadgets ― such as smartphones, tablet PCs and smart TVs ― is rapidly increasing, pushing telecoms to introduce N-Screen (numerous screen) services which
April 8, 2011
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Shinsegae heir ready to tie the knot again?
Rumors fly over Shinsegae heir marriage plansBy Kim Ji-hyunChung Yong-jin, 42, vice chairman of Shinsegae Group, may be ready to tie the knot -- again -- this time with flutist Han Ji-hee, according to inside sources.Sources said that Han, 30, and Chung are making preparations for a wedding ceremony next month. Chung’s fiancee teaches at Sungshin Women’s University and has studied in Austria, Fran
April 8, 2011
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Samsung Electronics’ Q1 hit by LCD prices, tablet sales
The first quarter operating profit of Samsung Electronics, the world’s largest maker of TVs and flat-screen monitors, stood at 2.9 trillion won ($2.66 billion) to mark its smallest quarterly revenue in seven quarters after falling 34 percent from a year earlier, the company said on Thursday.Sales were at 37 trillion won, up 6.8 percent year-on-year, according to Samsung during an earnings guidance
April 7, 2011
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LG Uplus introduces wireless N-Screen service
LG Uplus said Thursday it introduced a wireless N-Screen service which enables sharing of data on multiple platforms for mobile phones, tablet PCs, televisions and personal computers.The company said people could easily use the service, dubbed “Uplus Shoot and Play,” by downloading the application on their devices without uploading content or making other inter-device connections.The service is cl
April 7, 2011
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Mobile carriers face price fixing probe
Korea’s three mobile service providers are being probed for illegal price fixing after a local civic group filed complaints with the state anti-trust regulator, business sources said.Sources said Fair Trade Commission inspectors carried out on-site inspections at SK Telecom, KT Corp. and LG Uplus on Wednesday, with emphasis placed on checking factory prices of smartphones and the possibility that
April 7, 2011
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[Herald Interview] Nestle hopes for more ties with Korean suppliers
Nestle S.A., the world’s largest food company, is seeking to boost its beverage and coffee machinery purchase from innovative Korean manufacturers, one of the firm’s high-ranking officials said Thursday. The firm saw the biggest potential of local companies in its leading technologies and dynamics, said Ruguo Hu, head of equipment & system of Nestle R&D Centre Shanghai. The Shanghai R&D center is
April 7, 2011
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KNOC spurs overseas resources development
State-run oil firm also seeks to diversify business to crude alternatives State-run Korea National Oil Corp. is stepping up overseas development projects and expanding its portfolio into alternative resources in bid to boost the country’s energy security. Korea, the world’s fifth-largest importer of crude oil, has been vulnerable to global oil price volatility and uncertainties in the market, espe
April 7, 2011
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Samsung puts Q1 operating profit at 2.9 tln won
Samsung Electronics Co., the world's top maker of memory chips, liquid crystal display (LCD) panels and TVs, estimated Thursday it had posted an operating profit of 2.9 trillion won (US$2.67 billion) for the January-March period. The preliminary estimate represents a 34.2 percent drop from an operating profit of 4.41 trillion won a year ago, Samsung said in a regulatory filing. It is also th
April 7, 2011
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LG Chem plant boosts global leadership
CEO says company will seek to supply electric-car batteries to Japanese firmsOCHANG, North Chungcheong Province ― LG Chem, the nation’s largest chemical company, sees South Korea having a global edge as a supplier of lithium batteries for electric vehicles, including in markets such as Japan. Renewing the firm’s pledge to join hands with international carmakers to lead the world’s battery industry
April 7, 2011
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Plan to lower telecom rates to be announced in May: KCC chief
A plan to lower telecommunication-related rates will be announced in May that can help stem hikes in consumer prices, the head of the country's communications regulator said Wednesday.Choi See-joong, chairman of the Korea Communications Commission, told reporters that the taskforce made up of the finance ministry and other related agencies are in the process of formulating a master plan.The taskfo
April 6, 2011
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LG, SkyLife tie up to conquer 3-D
LG Electronics and KT SkyLife announced a tie-up involving 3-D content on Wednesday, declaring the two will commercialize the service by the first half of next year.LG Electronics, the world’s second-biggest flat-screen television maker, said that it would feature 3-D content developed by the digital satellite broadcaster on the company’s 3-D TVs.As an initial step, the electronics manufacturer wi
April 6, 2011
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Samsung, LG dive into Chinese electronics market
The country’s two major electronics manufacturers said Wednesday they will aggressively target the Chinese market this week by introducing this year’s new line-up of 3-D televisions and wireless gadgets at an expo in Shanghai.Samsung Electronics and LG Electronics both showcased a variety of gadgets ― focusing on high-end smart TVs and smartphones ― in separate events in China.This is a move taken
April 6, 2011
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Spain to share oceanography experience at Expo
Spain, is to introduce its latest ambitious marine science project at the 2012 Expo in Yeosu, the country’s representatives said Wednesday.The European country will comprise the main exhibition in Yeosu with the results of its national research project named Malaspina Expedition 2010, Commissioner of Spain Cecilia Pereira said. The nine-month expedition, which is to be completed in July, assesses
April 6, 2011
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[Herald interview] Yeosu Expo to highlight climate
BIE chief says 2012 expo addresses timely issues, full of ideasThe 2012 Expo in Yeosu will bring oceans and climate change to the center of international attention, Vicente Gonzalez Loscertales, secretary general of Bureau International des Expositions said Wednesday.Loscertales had high hopes for the upcoming expo in Korea’s southwestern coastal city, he said, despite its smaller size than the mo
April 6, 2011
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HHI wins wind power generator contract
Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to supply eight wind-power generators to a Finnish power company.According to Hyundai Heavy, this is the first time a Korean company has been contracted to supply wind-power generating equipment to a European country. Under the contract, Hyundai Heavy will deliver eight 2-megawatt wind-power generators to Finnish Power to b
April 6, 2011
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LSIS shows wares at German expo
LSIS, a local electric equipment manufacturer, is taking part in the Hannover Messe exhibition as it gears up to expand its global operations, the company said Wednesday.The company said that its exhibits at the show, which is held in Hannover, Germany until Friday, includes power control and automation products, and green business solutions such as electric car chargers, and solar energy solution
April 6, 2011