Most Popular
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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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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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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over 9,000 hotline calls made by stalking victims in 2023
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DP leader says he will meet Yoon without conditions
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Foreign firms’ entertainment costs almost triple Korean firms’ bill
Foreign firms operating in Korea spent an average of three times more on client entertainment than local firms in 2009, while their donations to good causes were just 30 percent of the latter, a report by the national tax watchdog showed on Sunday.According to the National Tax Service report, 1,406 foreign companies in Korea spent a total of over 62 billion won ($51 million) on entertainment expen
Feb. 6, 2011
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Seoul to host whisky festival
An event to help turn South Korea into a nation of whisky-lovers is to be held this month. The Whisky Live international road show will come to Korea for the first time on Feb. 27. More than 2,000 people are expected to attend the event boasting more than 100 products from over 40 whisky brands. Attractions will include samplings, whisky master classes, VIP sessions, bartender awards, as well as m
Feb. 6, 2011
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Whatever It Takes; a hip way to do good
Donna Karan, George Clooney and Greenday ― although they’re all big American stars, the three belong to distinctively different genres. But it turns out the trio have something else in common ― they are among the 660 world-famous celebrities who have donated smartphone and tablet PC cover designs to raise money for people living in underprivileged countries. Part of the proceeds from the covers ―
Feb. 6, 2011
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Nippon Steel, Sumitomo merger to create global No. 2 steelmaker
Nippon Steel Corp. and Sumitomo Metal Industries Ltd.’s plan to create the world’s second-largest steelmaker is aimed at gaining leverage over raw-material purchases and metal pricing as costs soar. Shares in both companies surged the most in more than two years Friday. Based on Sumitomo’s market value and net debt, the deal would be worth more than 2 trillion yen ($24.5 billion), according to dat
Feb. 6, 2011
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LG Electronics to launch its first tablet PC in March
LG Electronics Inc., the world's third-largest mobile phone maker, said Wednesday that it will release its first tablet PC in March in the U.S. market, as it tries to take its share in the booming market.The upcoming product, dubbed "G-slate," is among the first tablet models to run on the "Honeycomb" operating system, which is Google Inc.'s latest generation of Android platforms designed for mobi
Feb. 2, 2011
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Industrial production index grows for 3rd straight month: report
South Korea's industrial production growth index for the manufacturing and mining sector grew for the third straight month in December despite concerns of general economic slowdown, a government report showed Wednesday.The report by Statistics Korea said index numbers reached 63.6 in the cited month, which is also the second month in a row that figures topped the "break-even" 50 mark.A index readi
Feb. 2, 2011
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S. Korean company wins Uzbek highway rest area contract
South Korea's state-run expressway corporation said Wednesday that a local company won a contract to build and operate a highway rest area in Uzbekistan.Korea Expressway Corp. said the rest area will be built on the 300-kilometer-long highway connecting Tashkent and Samarkand. The unidentified Korean company will build the 99,000-square-meter rest area and retain operational rights over the facili
Feb. 2, 2011
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Oil benchmark tops $100 on Egypt unrest
Market fears unrest could disrupt flow of oil from the Middle EastNEW YORK (AP) ― A key global oil price contract topped $100 per barrel on Monday for the first time since 2008, as investors kept an anxious eye on Egypt and worried about unrest there disrupting the flow of oil from the Middle East.While Egypt is not a major oil-producing country, each day about two million barrels of oil pass thro
Feb. 1, 2011
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Diageo Korea offers dream-come-true Keep Walking event
Diageo Korea is staging a “dream contest” which enables people to follow unfulfilled lifelong goals that are unique enough to inspire others.Mark Edwards, marketing director for Diageo Korea, said the firm launched a global campaign here in November, accepting more than 1,400 applications for an event somewhat similar to other well-known local TV programs like Super Star K.“(What’s) similar is the
Feb. 1, 2011
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Hyundai E&C posts record sales in 2010
Hyundai Engineering & Construction Co., Korea’s largest builder, said Tuesday that it has posted record high sales last year of over 10 trillion won ($ 8.6 billion), up 7.8 percent from 2009, on strong overseas orders.Earnings rose 19 percent on-year to 544.8 billion won in 2010, the firm said, thanks to gains from equity investments. Operating profit surged 39.5 percent to 584.3 billion won.“Hyun
Feb. 1, 2011
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Overseas demand boosts carmakers’ sales in Jan.
All five local carmakers saw January sales increase from a year earlier on the back of strong demand from overseas markets, industry data showed Tuesday.Their total sales came to 626,806 vehicles, up 21.9 percent from 514,094 units sold in the same period last year.Their domestic sales grew 1.4 percent to 120,577 units and overseas sales, including exports, jumped 28.1 percent to 506,229 units.Kia
Feb. 1, 2011
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POSCO’s overseas project gains momentum
POSCO plans to inject about $12 billion into a project to construct a new plant and develop an iron ore mine in India, which received the green light from the Indian government on Monday after years of delay.India’s Ministry of Environment and Forests gave POSCO conditional approval to go ahead with buying up land for an integrated steelworks and to continue processes for its plans for iron ore ex
Feb. 1, 2011
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Consumer prices surge 4.1% in January
Inflation breaks BOK ceiling again, led by 30.2% jump in fresh food pricesKorean inflation accelerated for the second straight month in January, breaching the central bank’s 4 percent ceiling and adding to the case for another increase in borrowing costs. According to the report by Statistics Korea, the country’s consumer price index surged 4.1 percent last month from a year earlier, mainly due to
Feb. 1, 2011
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KORES bids for Mongolia coal mine
An international consortium led by Korea Resources Corp. recently submitted a bid to develop a coal mine lot in Mongolia, the state-run resources developer said Monday.The consortium of nine Korean, two Russian and four Japanese companies seeks to obtain the right to develop the Tavan Tolgoi mine. The region has one of the world’s largest untapped deposits of coal for making steel with around 1.2
Feb. 1, 2011
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Korean investors in Egypt begin exodus
Korean businesses and investors in Egypt are facing inevitable damage to their operations due to increasingly violent protests there, with many of them forced to stay indoors or have their family members leave the country in a hurry, a local trade body said Monday.Many companies, including Samsung, LG and Hyundai Motor, have decided to immediately bring home the families of their workers in the Ar
Jan. 31, 2011
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NPS plans to use W300b more to buy bad debts
Korea’s national pension fund plans to spend 300 billion won ($267.3 million) down the road in order to take over bad debts from distressed commercial banks, the fund’s top manager said Monday. “The National Pension Service has recently decided to invest an additional 300 billion won in funds to buy non-performing loans as part of our alternative investment expansion,” Chairman Jun Kwang-woo said
Jan. 31, 2011
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LG Uplus back to loss in Q4 on costs
Korea’s smallest mobile carrier, LG Uplus Corp. said Monday that it swung into the red in the fourth quarter of 2010 from one year ago, hurt by depreciation costs. Net loss stood at 49.2 billion won ($44.1 million) in the October-December period, compared with a 78.4 billion won net income a year earlier, the company said in a regulatory filing. The mobile operator said it had lost money in the th
Jan. 31, 2011
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Chip exports may reach $52.5b in 2011
Korea’s computer chip exports are expected to reach $52.5 billion in 2011, fueled by greater overseas demand for system semiconductors, the government said Monday.The total represents a growth of 3.5 percent compared to the previous year, with outbound shipments of system semiconductors used to make products like smartphones and tablet PCs expanding 18.7 percent on-year to $19.1 billion, the Minis
Jan. 31, 2011
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China seeks maximum fine for Carrefour
SHANGHAI (AFP) ― China price regulators are seeking to fine French retail giant Carrefour 2.5 million yuan ($380,000) ― the maximum fine for overcharging customers, state media reported Sunday.Municipal regulators fined three Carrefour stores in Shanghai and two in southwest China’s Yunnan province 500,000 yuan each on Saturday, the official Xinhua news agency reported.However, the final fine will
Jan. 31, 2011
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KEPCO narrows loss on higher prices, won
Korea Electric Power Corp., the country’s biggest electricity producer, posted a narrower fourth-quarter loss after the government allowed power prices to increase for the first time in more than a year and a stronger won cut the cost of its foreign-currency loans.The loss shrank to 18.2 billion won ($16.2 million) in the three months ended Dec. 31 from a deficit of 336.4 billion won a year earlie
Jan. 31, 2011