Most Popular
-
1
Seoul vows action over Naver's Line, Yahoo dispute
-
2
[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
-
3
Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
-
4
Samsung doubles down on Vietnam
-
5
In Beijing, S. Korean top diplomat aims to jumpstart ties with China
-
6
Prosecutors summon pastor involved in Dior bag scandal
-
7
Suspect behind murder of Korean tourist in Pattaya arrested
-
8
NewJeans' members' parents complained to Hybe, email shows
-
9
[Grace Kao] American racism against Stray Kids
-
10
[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
-
Korea’s jobless rate stands at 3.4% in December
South Korea’s jobless rate rose in December from a month earlier, but more jobs were created, with the labor market still grim for youths, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 3.4 percent last month, up from 3.1 percent in November.The seasonally adjusted jobless rate also inched up from 3.4 percent to 3.5 percent. Job creation remained strong. The number of employed people reached 25.38 million last month, up 422,000 from a
IndustryJan. 14, 2015
-
Hyundai Heavy to pull out of onshore plant business
Hyundai Heavy Industries, the world’s largest shipbuilder, plans to integrate two onshore and offshore plant business units and begin voluntary redundancies to overcome its financial difficulties.But insiders said the merger of the two units is an apparent move to gradually withdraw from the money-losing onshore plant business “Top management ordered the business unit to stop activities to win new plant orders,” an industry source said. The company’s drastic measure came after it posted a record
IndustryJan. 14, 2015
-
Samsung Group likely to invest W50tr in 2015
Samsung Group, South Korea’s top family-run conglomerate, is expected to spend 50 trillion won ($46.3 billion) for facility and R&D investment this year, a company official said, a similar amount from last year, following a reshuffle with its chairman, Lee Kun-hee, still bedridden. Samsung is estimated to have invested between 49 trillion and 50 trillion won in 2014, according to market analysts, moderately increasing the expenditure every year from 42 trillion won in 2011. “It seems to be an am
IndustryJan. 14, 2015
-
Hyundai Asan opens second duty-free shop in Gaeseong
Hyundai Asan, a Hyundai Group affiliate, has opened its second duty-free shop in a joint industrial complex in the North’s border town of Gaeseong, the company said Wednesday.The South Korean operator of inter-Korean business projects held an opening event for the 130-square-meter duty-free shop in the Gaeseong industrial park, where the company has the exclusive right to run the factory complex.“The commodities at the shop will vary from high-quality goods to practical ones,” a Hyundai Asan off
IndustryJan. 14, 2015
-
Yuhan-Kimberly discloses safety policy for baby products
Yuhan-Kimberly, Korea’s leading hygiene product-maker, disclosed its safety policy for baby care products on Wednesday in an effort to build customer trust and penetrate developed markets. The disclosed information includes ingredients used for baby care products. “The first-of-its-kind move within the industry is aimed at keeping the promise to customers at home and abroad about the safety of our baby products,’’ a company spokesperson said. Through gaining the trust of customers, the company a
IndustryJan. 14, 2015
-
Samsung renews push for Tizen OS
Samsung's first Tizen-powered smartphone Z1Samsung Electronics, which has sought to reduce its reliance on Google’s Android, is gearing up to release new devices that use its own Tizen operating system.On Wednesday, the Korean tech giant launched the first Tizen-powered smartphone, the Z1, in India. Priced at about $100, it is a budget phone that is designed to avoid market overlap with its higher-end mainstream Android devices. Considering the market reception in India, the world’s third-larges
TechnologyJan. 14, 2015
-
Korea’s M2 money supply grows most since 2010
South Korea’s M2 money supply expanded at the fastest pace in more than four years in November on a rise in household debt and continued current surplus streak, central bank data showed Wednesday.The M2 jumped 8.3 percent on-year to 2,079.3 trillion won ($1,929 trillion) in November, quickening from a 7.5 percent rise in the previous month, according to the Bank of Korea. The on-year growth is the fastest since August 2010 when the M2 expanded 8.7 percent.From a month earlier, the country’s M2 r
Jan. 14, 2015
-
Samsung, LG dominate public display market in Q3
Samsung Electronics Co. and LG Electronics Inc., South Korea‘s top two tech firms, stood pat on their big shares in public display market in the third quarter of last year, data showed Wednesday, as they shift focus to smaller signage displays that have become the next trend. Samsung Electronics stood atop with a 27 percent share in the third quarter of 2014, with that of LG Electronics reaching 7 percent as the third-biggest player in the world over the same period, according to the data compil
TechnologyJan. 14, 2015
-
[Herald Interview] ‘CES to expand footprint in Asia’
LAS VEGAS ― For more than 40 years, the International CES has been keeping the world’s largest electronics trade exhibition under its belt, providing chances for consumers to witness the most innovative and trendsetting technologies in the world. Gary Shapiro, the president and chief executive of the Consumer Electronics Association, the organizer of the CES, said his organization would make further efforts to reach more global markets to provide hands-on experience and help bring about innovati
TechnologyJan. 14, 2015
-
Xiaomi’s buying spree gives Apple, Samsung new reasons to sweat
Xiaomi Corp. zoomed past Apple Inc. and Samsung Electronics Co. in China smartphone sales just three years after releasing its first model. Founder Lei Jun is now on a buying spree to take that momentum beyond handsets.Since November, the maker of Mi devices has participated in more than $600 million of investments in three companies and announced it bought into dozens of startups making everything from an air purifier to low-energy light bulbs.Xiaomi, which doubled revenue to $12 billion last y
TechnologyJan. 14, 2015
-
KT, Red Cross tie up for emergency response system
Volunteer workers at the Korean Red Cross test their LTE walkie-talkies (RADGER 1) during a rescue simulation. KT and the Red Cross signed an MOU for a private safety system. (KT)KT and the Korean Red Cross have agreed to cooperate on establishing an ICT-based private safety system that surveys emergency situations and sends relief aid, the telecom giant said Wednesday.The two parties plan to combine the Korean Red Cross’ rescue infrastructure with KT’s ICT knowledge. They also agreed to share i
TechnologyJan. 14, 2015
-
[Herald Interview] Aussie lawyer spreading passion for CrossFit
Even if you are not an exercise buff and don’t keep abreast of the latest fitness trends, you’ve probably heard of CrossFit. Combining good old movements such as push-ups, squats and lunges with Olympic lifting, rowing and a lot of jumping and running, the super-intensive, full-body workout has taken the global fitness world by storm, creating a lot of buzz in the past few years. Korea, too, has caught on to this craze, with some celebrities pinpointing the notoriously grueling workout regimen a
TechnologyJan. 14, 2015
-
Daewoo Shipbuilding seeking stake sale in non-core unit
Daewoo Shipbuilding & Marine Engineering Co., the world's second-biggest shipyard, said Wednesday it is pushing to sell its stakes in its wholly-owned unit FLC Ltd., a golf course operator.The stake sale is intended to streamline the shipbuilder's business by disposing of its non-core assets, the firm said in a regulatory filing."We are examining preliminary proposals for the stake sale, which we received from multiple potential buyers at the end of last year," the company said.However, it did
IndustryJan. 14, 2015
-
Hyundai Heavy restructures to combat financial crisis
Hyundai Heavy Industries Co., the world's largest shipbuilder, said Wednesday it will integrate its industrial plant business with its offshore engineering division and cut 1,500 jobs through a voluntary retirement program to tide over its financial crisis.The integration will help the company cut its costs through the bulk purchase of components and materials and raise efficiency in production, the shipbuilder said in an e-mailed statement. Under the move, the company will utilize the workforce
IndustryJan. 14, 2015
-
Hyundai Motor's stake sale bid overturns fate of affiliates
Hyundai Motor Group's failed bid to sell stakes in its logistics affiliate, Hyundai Glovis Co., led to an exodus of investors for the second consecutive day on Wednesday, while analysts expected the owner family premium will now move to Hyundai Mobis Co., an auto parts maker at the center of the conglomerate's cross-shareholdings.Hyundai Motor Chairman Chung Mong-koo and his only son, Chung Eui-sun, 44, the vice chairman of the group, tried to sell 1.8 million and 3.2 million shares each in Hyun
MobilityJan. 14, 2015
-
Samsung releases first Tizen phone in India
Samsung Electronics Co. said Wednesday it has launched its first Tizen-powered smartphone in India as it aggressively targets the low-end market and attempts a breakaway from the dominant Android operating system.The 4-inch Samsung Z1 is powered by the Tizen 2.3 platform and comes with a 1.2GHz dual-core processor. Weighing only 112 grams, it is equipped a 3.1-megapixel rear camera and a 1,500 mAh battery. It will come in white, black, and red.Although its features are not on par with the Androi
TechnologyJan. 14, 2015
-
Seoul shares down 0.18 pct on global economic woes
South Korean stocks ended 0.18 percent lower Wednesday as foreign investors offloaded shares amid ongoing global economic risk factors, analysts said. The South Korean won gained ground against the greenback.The benchmark Korea Composite Stock Price Index lost 3.48 points to 1,913.66 after a choppy trading session. Trading volume was low at 274.6 million shares worth 4.36 trillion won ($4.03 billion), with gainers beating decliners 407 to 368.Analysts said investors have become tolerant to persi
Jan. 14, 2015
-
S. Korea aims to export $7.7 bln worth of agricultural goods in 2015
South Korea aims to export $7.7 billion worth of agricultural goods this year by expanding presence in China, Southeast Asia and the Muslim Halal food market, the government said Wednesday.The goal represents more than a 24.4 percent increase compared to $6.19 billion worth of farm goods shipped out in 2014, the Ministry of Agriculture, Food and Rural Affairs said.Last year's farm exports grew by 8.1 percent on-year, far outpacing the country's overall export growth of 2.4 percent, according to
Jan. 14, 2015
-
Korea's M2 money supply grows most in over 4 years
South Korea's M2 money supply expanded at the fastest pace in more than four years in November on a rise in household debt and continued current surplus streak, central bank data showed Wednesday.The M2 jumped 8.3 percent on-year to 2,079.3 trillion won ($1,929.6 billion) in November, quickening from a 7.5 percent rise in the previous month, according to the Bank of Korea. The on-year growth is the fastest since August 2010 when the M2 expanded 8.7 percent.From a month earlier, the country's M2
Jan. 14, 2015
-
Samsung likely to invest 50 tln won in 2015
Samsung Group, South Korea's top family-run conglomerate, is expected to spend 50 trillion won ($46.3 billion) for facility and R&D investment this year, a company official said, a similar amount from last year, following a reshuffle with its chairman, Lee Kun-hee, still sick in bed.Samsung is estimated to have invested between 49 trillion and 50 trillion won in 2014, according to market analysts, moderately increasing the expenditure every year from 42 trillion won in 2011."It seems to be an am
CompaniesJan. 14, 2015