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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KARI upbeat about rocket project
Space agency chief says lessons from two failed attempts to help successful launch of KSLV-1 in OctoberThe chief of Korea’s aerospace agency expressed optimism ahead of the launch of the nation’s first space vehicle slated for October. “Everything is under control and I’m sure we’ll have a successful launch in October,” Kim Seung-jo, president of Korea Aerospace Research Institute, said in an interview with The Korea Herald. Korea failed in its previous two attempts to launch its own rocket in 2
TechnologyAug. 6, 2012
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Samsung’s smartphones dominant, grip on feature phones weakens
Market research firm says Nokia has become renewed threatSamsung Electronics’ shipments of feature phones slipped in the second quarter, even as it secured the top position in smartphones during the same period.Market research firm Strategy Analytics said on Monday that Samsung shipped 43 million feature phones running on second-generation communication networks, from April-June.As a result, the global IT behemoth recorded a minus 21 percent growth in feature phones compared to the same period l
IndustryAug. 6, 2012
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KT, Microsoft to support HTML5 app developers
KT and Microsoft Korea announced on Monday that they will collaborate to promote the development of HTML5-based applications.Under a memorandum of understanding signed by the two companies, KT and MS will seek and support Korean app developers for the World Wide Web, including venture tech start-ups and self-employed entrepreneurs.Korea’s Internet network conglomerate and the global software giant will also provide software and IT education to potential developers as part of efforts to boost the
TechnologyAug. 6, 2012
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Korea expected to become 4th-largest mobile ad market
Global ad spending to top $6b this yearKorea is expected to become the world’s fourth-largest mobile advertising market this year.In a report by eMarketer, a U.S. IT research firm, spending for mobile advertisements in Korea is estimated to reach over $450 million this year, up about 40 percent from $320 million in 2011.Korea will follow the U.S., Japan and the U.K. in terms of ad spending. The U.S., the world’s largest ad market, will maintain the top position with ad spending to reach some $2.
TechnologyAug. 6, 2012
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GM may produce Cadillacs in Korea
U.S. carmaker strives to find breakthrough amid sagging sales of AlpheonGM Korea is seeking a breakthrough to boost the sluggish sales of its premium sedan Alpheon that debuted in the Korean market in 2010.One scenario could be the introduction of the Cadillac brand, also under its parent U.S.-based General Motors, like the current Chevrolet series of which several models are being produced in Korea, industry sources said.The Korean unit of GM had pinned hopes on the Alpheon in terms of sales c
IndustryAug. 6, 2012
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New BC Card head focuses on tech-led innovation
Lee Kang-tae, new CEO of BC Card, vowed on Monday that he will make BC Card the leading group in the card industry by merging finance and communication. “The future card industry will be a market based on mobile cards and big data. The credit card market is in a difficult situation right now, but we should leap up as a small but strong financial firm through business innovations,” Lee said at the inauguration ceremony held at the company’s headquarters in Seoul. “We plan to pioneer the mobile c
Aug. 6, 2012
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Seoul shares rally 2.01% on eurozone hopes
Korean stocks jumped 2.01 percent on Monday as unexpected improvement in U.S. employment data and renewed hopes over the troubled eurozone boosted investor confidence, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 37.20 points to finish at 1,885.88. Trading volume was moderate at 242.6 million shares worth 4.13 trillion won ($3.66 billion) with advancers outpacing decliners 562 to 242. “Good news from the U.S. and Europe a
Aug. 6, 2012
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Daily passengers at Incheon Airport reach record high
The number of passengers using Incheon International Airport reached an all-time daily high over the weekend, as South Korea’s tourism season is in full swing, its operator said Monday. The nation’s main gateway, located west of Seoul, recorded 143,330 passengers on Sunday, with 64,967 outbound and 75,363 inbound, the airport said in a release. It was the first time the number of passengers surpassed 140,000 since the international airport opened in 2001, it noted.The airport has designated a pe
Aug. 6, 2012
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Oil prices feared to hit Korean economy
International crude prices could jump in the second half due to mounting Middle East geopolitical risks, spelling trouble for South Korea’s struggling economy, think tanks said Monday.The Korea Center for International Finance and the Paris-based International Energy Agency said concerns are rising that a standoff over Iran’s nuclear program and the crude embargo imposed by the United States and Europe can cause oil prices to rise above the $100 per barrel mark in the coming months. Fossil fuel
Aug. 6, 2012
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Brokerages cut staff numbers as financial market stagnates
Local brokerages are reducing their staff amid continued stagnation in the stock market, according to reports. Staff sizes at 63 brokerages in Korea dropped by 0.6 percent from 42,682 at the end of last year to 42,388 in the first quarter, the Financial Supervisory Service and Korea Financial Investment Association said Monday. It is the first time brokerages have reduced employees since 2009, in the wake of the collapse of Lehman Brothers Holdings. “The continued market stagnation resulted in a
Aug. 6, 2012
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Korea, Vietnam announce start of FTA talks
Korea and Vietnam declared the launch of talks on a bilateral free trade agreement Monday as part of efforts to strengthen economic ties, Seoul’s Trade Ministry said.In a meeting held in Hanoi earlier in the day, South Korean Trade Minister Bark Tae-ho and his Vietnamese counterpart Vu Huy Hoang agreed to launch their free trade talks, the ministry said.Korea already has a free trade pact on merchandise with the 10-member Association of Southeast Asian Nations that took effect in 2010. Similar d
Aug. 6, 2012
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Nine savings banks unlawfully controlled by major shareholders
Major shareholders of nine mutual savings banks with assets of more than 500 billion won ($444 million) were found to have interfered with management in an unlawful manner, the nation’s top financial regulator said Monday.The nine savings banks are Hyundai Swiss, Hyundai Swiss 2, Shilla, Gongpyung, Seram, Pureun, Shinana, Moa and W, the Financial Supervisory Service said.While wielding control over the secondary lenders, the major stockholders or their family members did not give any business ap
Aug. 6, 2012
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AustCham Korea recruiting volunteer dancers
The Australian Chamber of Commerce in Korea, or AustCham Korea, is recruiting dancers for its upcoming Chairman’s Night on Sept. 21.This year’s theme is “Dancing Under the Stars.” The chamber is seeking nine volunteers.Each volunteer will be paired with a professional, and will learn specific choreography set to music. A total of eight lessons will be offered. For more details, please call 02-2010-8832. (renee@heraldm.com)
IndustryAug. 6, 2012
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SIWA to host ‘Mingle Night’
The Seoul International Women’s Association, or SIWA, will hold a “Mingle Night” at the Grand Ambassador Seoul Hotel on Aug. 31.Members and non-members can choose from various side dishes and snacks, in addition to local beers and wines.They will also be able to enjoy a live music performance. The hotel’s bar holds a live performance every night after 8:30 p.m. according to SIWA. Please visit the official website for more information.(renee@heraldm.com)
IndustryAug. 6, 2012
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French chamber organizes business trip to Mongolia
The French Korean Chamber of Commerce in Korea, in partnership with the French Chamber of Commerce and Industry in Vietnam, has organized a business delegation trip to Mongolia.According to the chamber, the trip will help interested investors, entrepreneurs, and representatives explore potential business opportunities in the landlocked central Asian country.Registration and applications must be completed by Aug. 10, according to the FKCCI website. Several options are being offered, so for more d
IndustryAug. 6, 2012
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Ten big ideas about marketing to Koreans: Part Two
Idea 6 ― Korean society is role- and hierarchy-based Koreans dress and behave for the role they are in at the time. Hill climbers always wear the same style of outfit and carry the same gear. Dress code in the office is predictably formal. Even the weather ladies on TV (they’re all women!) dress in a raincoat for the camera if it’s raining outside. Furthermore, society is infused with a complex awareness of hierarchy, and this is reinforced by the Korean language which requires a speaker to subt
Aug. 6, 2012
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Creativity helps Heineken retain foothold
Local chief says Dutch brewer aims to appeal to specific tastes of Korean consumersIn a market where products quickly fall in and out of favor, Heineken Korea has kept its foothold by keeping things fresh and interesting. “Our strategy is to keep (consumers) excited about the brand,” said the multinational beer company’s local division head, Jan Arie Smit, in a recent interview with The Korea Herald in Seoul.The Dutch beer brewer has operations in around 178 countries, according to its official
IndustryAug. 6, 2012
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Korea works green growth with Asia to improve forests
Korea Forest Service seeks to expand forest cooperation regionwideThe Asian Forest Cooperation Organization, or AFoCO will be established after three years of preparation through an agreement between the governments of the member states of the Association of Southeast Asian Nations and Korea on forest cooperation.Through it, Seoul will attempt to actively strengthen international forest affairs among Asian countries through climate change mitigation and forest cooperation projects. It also plans
Aug. 6, 2012
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Jeju Air appoints new CEO
Aekyung Group announced that it has named Choi Kyu-nam the new CEO of Jeju Air, one of Korea’s budget carriers. Choi will replace Cho Jae-yearl, who was nominated to be CEO of AK Holdings, which will be established Sept. 1.If the shareholders endorse the selection of Choi as CEO. he will lead the airliner with Aekyung Group’s Household Product and Aviation Business division’s vice president Ahn Yong-chan in a dual CEO system, company officials said.Choi, a U.S. qualified chartered financial ana
Aug. 6, 2012
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One in 4 SNU doctorate graduates unemployed
More than one in four doctorate degree recipients from Seoul National University (SNU) were unemployed last year, statistics showed Monday, the highest ratio in 10 years that indicates the country‘s most prestigious university is no exception to the tightening job market.According to SNU’s annual statistics on employment and careers of graduates, out of 1,054 people who earned doctoral degrees from the school between August 2010 and February 2011, 289 or 27.4 percent were unemployed.The unemploy
Aug. 6, 2012