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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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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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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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Bernanke: Fed to improve financial oversight
Regulators to up supervision of nation’s financial plumbing to prevent another crisisWASHINGTON (AP) ― Regulators are working closely to strengthen oversight of inner workings of the nation’s financial system, part of a broader effort to prevent a repeat of the 2008 financial crisis, Federal Reserve Chairman Ben Bernanke said Monday.The financial overhaul law enacted last year directs the Fed and
April 5, 2011
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New share sale to boost prospects of Hynix sale: analysts
The stalled sale of Hynix Semiconductor Inc. is likely to speed up as creditors of the chip maker are considering selling new shares to resume efforts to unload their stakes, market watchers said Tuesday.Creditors of Hynix plan to resume the process to sell a 15 percent stake in the world’s No. 2 computer memory chip maker following a set of failed attempts to sell it. Investors have been wary of
April 5, 2011
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SaKong to speak at Trilateral Commission
SaKong Il, chairman of Korea International Trade Association and G20 Summit Korea Coordination Committee, will attend the Trilateral Commission annual meeting April 8-10 in Washington, KITA said Tuesday.SaKong will address the “G20 and global governance” at the meeting which will also be attended by officials including former Canadian Prime Minister Paul Martin and Lawrence Summers, former U.S. Tr
April 5, 2011
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Hotel Shilla faces tax audit: officials
The National Tax Service has launched an inspection into Hotel Shilla, led by Samsung Electronics chairman Lee Kun-hee’s eldest daughter Lee Boo-jin, officials said Tuesday.The first tax inquiry into the company since 2006 is expected to focus on recent business developments, including its successful negotiations with Louis Vuitton to open a store for the French designer brand in Incheon Internati
April 5, 2011
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[Herald interview] U.S. law firm hopes for opportunities with Korean investors
While the U.S. is a major market for financial investors across the world, its complex financial laws represent a major hurdle for those looking to invest in the country. For the New York-based law firm Kirby McInerney LLP, which specializes in complex commercial litigations, that blind spot offers handsome opportunities for business with largely Asian investors who need help to navigate through i
April 5, 2011
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Hanwha sets up solar energy firm
Hanwha Group said Tuesday it has launched new company to spearhead its expanding solar power business at home and abroad.The new venture, named Hanwha Solar Energy, will be at the center of the group’s vertically integrated solar energy business, from equipment to facilities to power generation. It will also push for cooperation with partners in North America and Europe, the company said. The firm
April 5, 2011
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S-Oil cuts prices of gasoline, diesel
S-Oil Corp., Korea’s third-largest oil refiner, said Tuesday that it will cut the supply prices of its gasoline and diesel by 100 won ($0.9) per liter starting Thursday, following market leader SK Innovation’s suit.The firm’s directly managed stations nationwide will thus reduce its retail fuel prices by the amount, it said. The price reduction will last for three months.“We made the decision in o
April 5, 2011
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Ho-Am prize recognizes social contributions
Ho-Am Foundation on Tuesday awarded the Ho-Am Prize to four individuals and one institution to recognize their contribution to improving human lives and promoting public welfare.This year’s prizes went to Professor Ha Taek-jip of the University of Illinois for science, Professor Thomas Lee of Standford University for engineering, Professor Augustine Choi of Harvard Medical School for medicine, vio
April 5, 2011
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Korea to forge mobile commerce network
South Korea will forge a mobile radio-frequency identification network in metropolitan regions by the end of the year to promote mobile commerce, the Ministry of Knowledge Economy said Tuesday.The technology allows users to pay for items by flashing RFID-imbedded mobile phones in front of wireless readers.The RFID system has already been used in the country for transportation cards and wireless ex
April 5, 2011
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Australia leaves key rate steady
Australia’s central bank left its benchmark interest rate at the highest level in the developed world as floods disrupt coal mining in the nation’s northeast and a rising currency tempers inflation. Reserve Bank of Australia Governor Glenn Stevens held the overnight cash rate target at 4.75 percent for a fourth straight meeting, as forecast by all 25 economists surveyed by Bloomberg News. He calle
April 5, 2011
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Nonlisted chaebol units engaged in internal trade
Unlisted subsidiaries of Korea’s leading family-controlled conglomerates depend heavily on international trading for their sales, data showed Monday, raising concerns over conglomerates’ attempts to transfer wealth and dodge taxes.Twenty unlisted firms, whose biggest shareholders are the heirs of the group owners, saw their combined sales from internal transactions reach 3.42 trillion won ($3.1 bi
April 4, 2011
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Korea to spend W1tr on energy research
Korea plans to spend 1.03 trillion won ($947 million) this year to promote renewable energy development research and nuclear safety projects, the government said Monday.The amount represents a 3.1 percent gain from 1.01 trillion won spent on energy R&D in 2010. The sum is equal to 6.9 percent of the government’s overall R&D plan of 14.9 trillion won set aside for this year.The Ministry of Knowledg
April 4, 2011
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Outlook for Korean exports remains strong for Q2
A majority of foreign importers of Korean goods expect the country’s exports to remain solid in the second quarter on increased competitiveness, a poll showed Monday.The index measuring the outlook of the country’s exports in the April-June period came to 57.5, compared with 52.7 tallied for the previous quarter, according to the survey by the Korea Trade-Investment Promotion Agency (KOTRA).The se
April 4, 2011
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Refiners consider following SK price cuts
GS Caltex, S-Oil and Hyundai Oilbank may follow largest refinery’s decision to lower gasoline and diesel costsLeading oil refiner SK Innovation’s decision to lower retail fuel prices has prompted its smaller rivals to consider following suit. SK Innovation announced Sunday that it will reduce the prices of gasoline and diesel sold at its stations nationwide stations by 100 won ($0.09) per liter fo
April 4, 2011
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Minister apologizes for FTA gaffe
Trade Ministry completes fixing mistakes in translation of Korea-EU agreementTrade Minister Kim Jong-hoon apologized to the public on Monday for mistakes in the Korean-language version of the Korea-E.U. free trade agreement. In a news conference, he pledged to punish officials responsible for the blunder that delayed parliamentary ratification and hurt the reputation of the trade authorities.The T
April 4, 2011
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Hyundai Heavy starts work at R&D center in Shanghai
The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month.According to the company, the R&D center will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the cent
April 4, 2011
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Builders bail out of Brazil bullet train bid
Four Korean companies have pulled out from the nation’s consortium planning to bid for a contract to build and operate a bullet train network in Brazil, company officials said. The four companies, including Hyundai Amco Co. and Kolon Engineering & Construction Co., notified the consortium of some 20 firms last week that they pulled out, citing an uncertainty in financial prospects for the Brazilia
April 4, 2011
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Domestic construction orders to edge down
Korean builders’ domestic orders are expected to inch down this year due to a property market slump and economic uncertainties both at home and abroad, a report said Monday. According to the report by the Construction and Economy Search Institute of Korea, builders are likely to win domestic orders worth a combined 102.7 trillion won ($94.5 billion) this year, down 0.5 percent from a year ago. Bui
April 4, 2011
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Hynix Semiconductor unveils advanced chip
Hynix Semiconductor Inc., the world’s No. 2 maker of computer memory chips, said Monday that it has developed an advanced DDR4 dynamic random access memory (DRAM) chip and will start mass production in the second half of 2012. Hynix developed the 2-gigabit DDR4 DRAM device based on 30-nanometer class process technology, it said in a statement. The energy-efficient DDR4 DRAM transfers data twice as
April 4, 2011
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SK Engineering bags 140 bln won subway order from Singapore
SK Engineering & Construction Co., a South Korean builder, said Monday that it has clinched a 140 billion won ($128.9 million) contract to build a subway section in downtown Singapore. Under the deal with Singapore's Land Transport Authority, SK Engineering will build a 1.1-kilometer section of the 21-kilometer subway system by late 2016, the company said. The builder said it will start w
April 4, 2011