Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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KRA to breed 100,000 horses
The state-run organization in charge of horseracing announced on Monday plans to step up as both a company engaged in social contributions and as a leader in the horse and leisure industry until 2022, the centennial year of South Korea’s horseracing history. To meet the goal, the Korea Racing Authority revealed four targets to reach by 2022: to develop the industry into a 1.3 trillion won ($1.14 billion) market; to make 30 percent of its profits in non-racing businesses; to breed 100,000 horses;
IndustryJuly 23, 2012
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Korean firms to engage in Olympic marketing
The Korea Chamber of Commerce and Industry said Monday that six out of every 10 big firms are expecting extra demand to occur during the London Summer Olympic season.In a recent survey of the country’s 100 largest companies, about 35 percent said they plan to launch marketing activities related to the Summer Olympics, higher participation than the Korea-Japan joint World Cup in 2002 and the Beijing Olympics in 2008 which recorded 19.7 percent and 27.3 percent, respectively.When asked how they ex
July 23, 2012
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JPMorgan downplays possibility of rate fixing
HONG KONG (Yonhap News) ― Global investment bank JPMorgan on Monday played down the possibility of South Korean financial firms’ rigging of interest rates on certificates of deposit, saying they may have had limited benefits from it.Korea’s Fair Trade Commission launched last week a probe into Kookmin Bank, the country’s largest lender, and eight other banks as well as 10 major brokerages over alleged CD rate rigging. JPMorgan said in a report that banks and brokers would have a limited benefit
July 23, 2012
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KCS finds Nintendo piracy worth W100b
The Korea Customs Service announced on Monday it had referred about 25 people who illegally copied Nintendo computer games and illegal cartridges to prosecutors for investigation. The alleged violators of the copyright law, unearthed by the KCS, include 15 online shopping mall managers who sold over 90,000 pirated games of the Japanese game company and also illegally produced cartridges. The pirated goods are worth at least 100 billion won ($87.2 million), according to the KCS. The illegal cartr
IndustryJuly 23, 2012
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Philips Lighting names new branch chief
Philips Electronics Korea, a subsidiary of the Dutch multinational company Royal Philips Electronics, has appointed Kim Il-gon as the new chief of its lighting branch. He is set to take office on Sept. 1. The Korean subsidiary of the Dutch electronics firm expressed confidence in its selection, and said that Kim’s proven track record in the LED industry will help contribute to the overall growth of the company, especially towards the development of new lighting technologies. The sector is expect
July 23, 2012
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JTI Korea releases ‘capsule’ type cigarette
JTI Korea, a local division of the international tobacco-maker Japan Tobacco Inc., has announced the release of a new type of “capsule” cigarette. Called “Mild Seven Option,” this is the first time the company has applied a capsule design to a cigarette. The new design allows capsules inside the cigarette filter to “pop,” and helps the product maintain its menthol taste, according to a company spokesperson. “We will constantly try to improve the expertise and design of our products in order to p
July 23, 2012
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KAA, AustCham to host Sundowners’ party
The Korean Australian Alumni and the Australian Chamber of Commerce in Korea will host a joint “Sundowners” party on July 26.It will take place at the Mixology Bar, located in Cheongdam-dong, southern Seoul. Guests will be able to enjoy cocktails and get a chance to win lucky draw prizes, including those from JW Marriott Hotel Seoul and Pieroth Wines. The dress code is smart casual. Please call (02) 2010-8832 for more information.(renee@heraldm.com)
July 23, 2012
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SIWA’s working women’s networking event
The Seoul International Women’s Association, or SIWA, will hold its latest monthly meeting on Wednesday.Members and non-members will convene at Pier 8 in Itaewon, for a night of drinks, networking and dinner. Dinner will feature Japanese appetizers, and vegetarian options will be available. For more information, please visit www.siwapage.com. (renee@heraldm.com)
BusinessJuly 23, 2012
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Audi Korea chief Trevor Hill set to leave Korea
Trevor Hill, managing director of Audi Korea, has been a key figure in Korea’s import car industry for his contributions to growth in the Korean market. After five years in Korea, he plans to leave the country upon completing his tenure this year. News reports said that Hill will continue his career with Audi AG, moving to Dubai to serve as the local unit chief there. According to industry sources, Hill has played an instrumental role in the breakthrough sales success of the luxury automaker’s K
MobilityJuly 23, 2012
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Lego aims to expand toy market
Local unit chief says more competition will help parents realize the ‘play value’ of toysDanish toy firm executive Steen Lauge Kokkenborg understands that all work and no play makes for a very dull person. So Kokkenborg, who has been serving as the general manager of Lego Korea for the past two years, has made it his personal mission to spread the importance of “play” in sparking a child’s imagination and helping him or her develop into a well-rounded, well-adjusted adult. “Korean parents....(so
IndustryJuly 23, 2012
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Seoul shares fall on renewed eurozone worries
South Korean stocks closed 1.84 percent lower Monday as Spain's call for a rescue fund spurred a new wave of fears that the eurozone debt crisis is deepening, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) plunged 33.48 points to finish at 1,789.45. Trading volume was moderate at 491.3 million shares worth 3.55 trillion won ($
July 23, 2012
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Female flirtation is a plus in negotiation
Using flirtation during a negotiation appears to create better economic outcomes for female negotiators, a U.S. researcher found.However, study leader Laura Kray of the University of California, Berkeley, Haas School of Management, said female negotiators only had an advantage if the flirtatiousness was perceived as above and beyond friendliness.The researchers examined “feminine charm” in negotia
TechnologyJuly 23, 2012
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Kissenger: virtual lips for long-distance lovers
Finding it hard to keep up the passion in a long-distance relationship? Help might be on the way. A robotics professor in Singapore has invented a gadget equipped with motion-sensitive electronic "lips" that allow amorous but absent couples toexchange long-distance smooches via the Internet.Shaped like a small head with oversize silicone lips, the "Kissenger" -- short for Kiss Messenger -- was unv
TechnologyJuly 23, 2012
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Japan launches rocket to ISS
A handout photograph shows a Mitsubishi Heavy Industries Ltd. H-2A rocket which carries Arirang-3 taking off from Japan Aerospace Exploration Agency's (JAXA) Tanegashima Space Center in Tanegashima, Kagoshima Prefecture, Japan on Friday, May 18, 2012. (Bloomberg photos and graphics)An unmanned rocket carrying more than 4 tons of supplies to the International Space Station was successfully launched
TechnologyJuly 23, 2012
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Chinese police seize $18.5M in fake money
Chinese police have arrested 463 suspects on charges of counterfeiting money and confiscated $18.5 million in fake bills, officials said.The arrests came out of a special operation created in March to crackdown on economic crimes, China‘s state-run Xinhua News Agency reported.“Fake note cases and the amount of fake notes discovered by financial institutes have been decreasing under sustained crack
July 23, 2012
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Moms saddest when kids back in school
This photo is not directly related to this article.(Bloomberg photos and graphics)The return of school days is more emotionally tolling for mom than kids; she is the saddest when classes start, a U.S. survey indicates.Plum District, a Web community of mothers, conducted an online survey of more than 2,400 of its members last June, and found 40 percent of moms said they were the saddest family memb
TechnologyJuly 23, 2012
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Many see e-cigarettes as less harmful
(McClatchy)Current U.S. smokers are more likely to use e-cigarettes -- formally known as Electronic Nicotine Delivery Systems -- than non-smokers, researchers say. Researchers at the Schroeder Institute at the American Legacy Foundation, a non-profit Washington group that seeks to address the health effects of tobacco use, analyzed data from more than 6,000 adults who participated in two national
TechnologyJuly 23, 2012
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Women can fight breast cleavage wrinkles
Facial wrinkles get the lion's share of attention, but a U.S. plastic surgeon says wrinkles in women's breast cleavage can also be remedied.Dr. Rod Rohrich, chairman of plastic surgery at the University of Texas Southwestern Medical Center in Dallas, said wrinkle-fighting strategies can work on other areas of the body besides the face.One such area is breast cleavage -- where wrinkling caused by e
TechnologyJuly 23, 2012
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Seoul shares open sharply lower on Spain fears
South Korean stocks started sharply lower on Monday as renewed concern over debt-ridden Spain raised the specter that the eurozone fiscal crisis is worsening, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 27.80 points, or 1.53 percent to 1,795.13 in the first 15 minutes of trading.Shares moved downward across the board, with top-cap Samsung Electronics and Hyundai Moto
July 23, 2012
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Parties promote ‘economic democratization’ bills
Rival parties disagree on reintroducing cap on chaebol’s equity investmentThe following is the last in a two-part story about political parties’ call for economic democratization ahead of the December presidential election. ― Ed.Both the ruling and opposition parties are voicing “economic democratization” as a key policy for the presidential elections in December.The constitutional term refers to efforts to promote balanced growth, economic stability and equitable income distribution and to prev
July 22, 2012