Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Seoul to promote luxurious side of the city
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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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
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Glam Media launches...Korean service
Global digital media firm Glam Media launched a website in Korean last week.As a network of sites targeting women, the website offers information ranging from beauty, fashion, style, celebrity and lifestyle, enabling its visitors to access a variety of information in a single visit.It also partnered with well-known global magazines such as Marie Claire and Luxury to provide content most frequently
April 3, 2011
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KT expands ‘smart working’ environment
KT Corp., the country’s biggest fixed-line service operator, said Sunday that 20,000 of its workforce will take part in the company’s “smart working” program starting this month.The company said it will encourage more people to participate in the flexible working system as it brought positive outcomes such as an increase in productivity in a group that has tested the system since last September.Ea
April 3, 2011
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Strong Q1 results seen for autos, refiners
Industry watchers predict earnings surprise for Kia, record profits for S-Oil, SK InnovationKorean carmakers and oil refineries are expected to report strong first-quarter performances this month on rising demand and favorable external conditions. The results for steel, electronics and construction sectors are likely to be disappointing, analysts say.Ahead of the April earnings season, market watc
April 3, 2011
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Obama pushes for clean energy work
Shifting from imported oil to cleaner forms of energy will help boost job creationWASHINGTON (AP) ― President Barack Obama says shifting the U.S. away from imported oil and toward cleaner forms of energy will add momentum to a trend that has led to 1.8 million new jobs in the past 13 months.Obama used his weekly radio and Internet address Saturday to promote his ideas for bringing down gasoline pr
April 3, 2011
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S. Korea firms urged to prepare for increased competition in India
South Korean companies should be prepared for fierce competition with Japanese rivals in India following New Delhi's signing of a free trade agreement with Tokyo, a local trade body said Sunday. Japan and India signed a comprehensive economic partnership agreement (CEPA) in February, which, once implemented, will remove around 94 percent of import tariffs on both sides, according to a report b
April 3, 2011
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[Herald Interview] Citroen reenters Korea with higher hopes
French carmaker Citroen aims to sell up to 2,500 cars a year in Korea when it resumes imports of vehicles after a nine-year hiatus, Eric Dumondelle, chief of the company’s Asia Pacific division said Thursday. Introducing a series of models including DS3 models it will launch in the Korean market at the Seoul Motor Show 2011, Dumondelle said Citroen hopes to benefit from the Korea-EU Free Trade Agr
April 1, 2011
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SK Group spins off its life science unit
SK Group, the nation’s third-largest conglomerate, said Friday that it had spun off its life science unit in a bid to develop the business into a new driver of growth. SK Biopharm’s total assets will reach 300 billion won ($260 million), and will be wholly owned by SK Holdings Co. The new unit’s main goal will be developing globally competitive new medicines and active pharmaceutical ingredients,
April 1, 2011
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Microsoft, LG promote Kinect on 3-D TV
Korean game-lovers will have a chance to experience Kinect on 3-D television at experience zones and Kinect tournaments operated as a joint effort between Microsoft Korea and LG Electronics, Microsoft said this week. Kinect is new game device launched by Microsoft last year that requires no controllers, as an embedded sensor picks up the movements of the players. Customers also can buy special Kin
April 1, 2011