Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Exports to US reach all-time high, widen gap with China
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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Woori union opposes M&A by bank
Financial Industry Union demands government to give up mega bank planThe labor union of Woori Financial Group on Monday called on the government to stop its attempt to privatize the state-controlled company by selling it to another major banking group.The government’s plan to privatize Woori is likely to result in an acquisition by or a merger with a rival bank, creating a “mega bank” which would pursue high-risk business and limit consumers’ choice of financial services, the union said in a pre
May 7, 2012
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AMCHAM on green growth
The U.S. Chamber of Commerce will host a presentaion by an expert in the green growth industry Tuesday.The speaker is Kim Moon-duk, president and CEO of Korea Western Power Co. with 35 years’ experience in the industry. The company manages 12 percent of the power generation for Korea. Western Power facilities include conventional coal and gas plants, as well as IGCC, tidal, solar and wind generation. Their growth plans are to triple in size and must adhere to Renewable Portfolio Standards. Organ
May 7, 2012
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Toft, new CEO of Nestle Korea
Graeme Toft has taken office as the new CEO of the world’s major coffee brand Nestle Korea, the company said on Monday. Toft had gained experience through his career as the representative director of Nestle Pacific Islands, the coffeemaker said. After entering Nestle Korea through the marketing department, the new CEO took over sales and marketing operation in Japan, Singapore and Malaysia. In 2010 he was dubbed the representative director of the company’s Pacific Islands operation. The company
May 7, 2012
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Park becomes new CEO of ThyssenKrupp
ThyssenKrupp Elevator Korea said on Monday that the company has named Park Yang-chun as its new CEO. The elevator company briefly convened a board of trustees last month to approve the appointment. Park then took up the post and began his work as CEO.For the past 20 years, Park has built up his career in Hyundai Heavy Industries, LG Industrial Systems and Otis Elevator Korea. Park is an expert in strategic planning and overseas operation, according to the company. Park said that he was pleased t
May 7, 2012
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Janssen Korea aids mentally ill kids
Janssen Korea has said that it will offer scholarships to children suffering from mental disorders. The medical firm signed an agreement last week with an organization for children’s welfare to operate supporting funds worth about 190 million won ($166,700) to help mentally ill children. Over the past 24 years, Janssen Korea had been running a scholarship for economically needy children, aiding a total of 3,300 students with 3.3 billion won. After Korea extended its government-paid compulsory e
May 7, 2012
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Bosch seeks more investment, diversified products in Korea
Major automotive supplier also focuses on invention of new products, cost cutting innovationsMajor auto parts supplier Bosch is seeking to diversify its products and increase investments in Korea.“The need in Korea from the customer side is engine management systems,” Robert Bosch Korea president and CEO Hermann Kaess told The Korea Herald. “What we do with every innovation is to produce parts that consume less fuel, less emissions, that is the game.” Bosch’s Korean operation is driven by its au
May 7, 2012
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Seohee Construction names new president
Seohee Construction said Monday that it has recently named architect Kim Sang-kyung as it new president. Kim, 59, earned a bachelor’s degree in architecture at Yonsei University and two master’s degrees at Seoul National University and University of Texas in Austin. He also earned a Ph.D. in architecture from University of Pennsylvania. The former professor at Kyung Hee University has diverse experiences in architecture, urban development and project management across all types of building proje
IndustryMay 7, 2012
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CrossFit: A butt-kicking workout for everyday life
This is not an average Korean gym. It is a rubber mat-filled room, with neatly organized Olympic bars, medicine balls, dumbbells and kettle balls along the perimeter. In the center of this room, where exercise machines would typically be, is a still warm puddle of sweat and tears from the last group of students.This is a CrossFit gym in Gangnam, where people of all shapes and sizes put themselves through a grueling regimen to achieve not only a better-looking body but a healthier one.The CrossFi
TechnologyMay 7, 2012
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KT profit increase 89.1% in Q1
South Korean telecom titan KT Corp. said Monday that its first-quarter earnings dropped 26.6 percent from a year ago due mainly to decreased demand for fixed-line communication services. Net profit stood at 407.58 billion won ($358.78 million) in the January-March period, compared with 555.21 billion won a year earlier, the country’s second-largest mobile carrier said in a regulatory filing.Sales climbed 9.1 percent on-year to 5.75 trillion won, while operating profit tumbled 20.3 percent to 574
TechnologyMay 7, 2012
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LG Electronics to roll out new Google TV on May 17
Korean firm to unveil Internet-enabled TV set on Android platformLG Electronics plans to roll out its new Google TV for the U.S. market on May 17, strengthening its alliance with the U.S.-based software giant, according to an LG executive.Ro Seog-ho, executive vice president of the firm’s TV business unit, said it will finish producing the 47-inch and 55-inch 3-D capable TV sets running on Google’s upgraded Android platform 2.0 next week and have it ready for U.S. consumers in the week of May 21
IndustryMay 7, 2012
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Prosecutors raid suspended savings banks over alleged
Prosecutors said Monday they have raided four savings banks to investigate alleged irregularities that led to their operations being suspended a day earlier.Investigators raided the head offices of Solomon Savings Bank, Mirae Savings Bank, Korea Savings Bank and Hanju Savings Bank, along with the homes of each bank's executives, prosecution officials said.In total, more than 30 locations, includin
May 7, 2012
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IPhone app 'Ugly Meter' tells users how ugly they are
An iPhone app that claims to be able to quantify “ugliness” has become a big hit around the world, according to news reports.“Ugly Meter” analyzes the details of human faces and rates their appearances from 1 to 10, along with nasty comments.Upon release, it was an immediate success, topping the Chinese iPhone charts for three weeks, and making $80,000 in a single day after being mentioned on the Howard Stern radio show in the United States.To anyone seeking judgment, the cheeky app dishes out v
TechnologyMay 7, 2012
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Samsung, LG claim 32% of LCD panel market in China
HONG KONG (Yonhap News) ― South Korea’s two flat-panel giants garnered an almost 32 percent share of the Chinese market in the first quarter of this year in the face of stiffer competition from Taiwanese rivals, a market report showed Monday.LG Display Co. grabbed a 16.2 percent share of China’s TV liquid crystal display panel market in the January-March period to become the third largest player there, according to Taiwan-based LCD market research firm WitsView Technology Corp. LG’s home turf co
May 7, 2012
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LG Electronics to roll out new Google TV on May 17
LG Electronics will roll out its new Google TV in the U.S. on May 17, strengthening its alliance with the U.S.-based software giant.An LG executive said Monday that it will release the 3-D-capable TV sets running on Google’s Android platform next week, which is the first lineup of the second generation of Google TV device. However, consumers will be able to meet the new product in the week of May 21.Together with the new TV set, the company will also feature a gesture-based remote controller whi
IndustryMay 7, 2012
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Heavy metal singer sues over tainted sushi
A heavy metal band front man is suing over the alleged tainted tuna he ate at a Louisiana sushi restaurant.Chris Fronzak, 22, of Portland, Ore., and members of his band Attila were in Metairie April 10, to play a show and decided to eat lunch at a sushi restaurant, The (New Orleans) Times-Picayune reported."Everything tasted great," Fronzak said Friday. "The amount of sushi I got was insane. Littl
TechnologyMay 7, 2012
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Super bright moon dazzles night skies
A super-full and extra-bright moon dazzled the night skies this weekend as the lunar body swept along the low point of its elliptical orbit around the Earth. The Super Moon is shown after rising over Canton, Ohio, Saturday. (AP-Yonhap News)The so-called lunar perigree brings the moon about 50,000 kilometers closer to the Earth than when it's at the farthest point of its oval orbit.When a full moon
TechnologyMay 7, 2012
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Regulators suspend four savings banks
Solomon, Korea face delisting from bourseThe Financial Services Commission said Sunday that it has decided to suspend operations of four mutual savings banks in Korea over the next six months.The four secondary financial firms are Solomon Savings Bank, Korea Savings Bank, Mirae Savings Bank and Hanju Savings Bank, the FSC said in a press release.Of six banks the regulatory body has investigated since September last year, the FSC shortlisted the four as distressed banks with weak financials.Only
May 6, 2012
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Hyundai Motor offers protocol vehicles for Expo
Hyundai Motor Group provided dozens of green-energy transportation vehicles for the Yeosu Expo 2012 on Sunday.The 51 eco-friendly vehicles include hydrogen fuel-cell operated Tucson ix and Mohave cars; electric-powered Ray EV and BlueOn vehicles; hydrogen fuel-cell buses, and compressed natural gas hybrid buses. The green-energy transportation will mostly be used to carry Expo staff, performance groups and organizing committee members. Among these vehicles, 20 hydrogen fuel-cell operated and ele
IndustryMay 6, 2012
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Homeplus to hold Korean food fair in London
Homeplus said Sunday that it will hold a Korean food fair in London during the Summer Olympics in partnership with its parent company, U.K. retail giant Tesco. Titled “Taste of Korea,” the upcoming event will be held at the Tesco Extra New Malden store in London from June 25-Aug. 31, the nation’s second-largest supermarket chain said. Some 150 Korean food items are to be displayed during the period, with the size doubled from the same event last year, the company said. Participating companies wi
IndustryMay 6, 2012
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GS Global acquires stakes in U.S. oil field
GS Global Corp., a chemical unit of GS Group, said Sunday that it has acquired stakes in a U.S. oil field with the aim to step up efforts to enter the overseas resource development market. GS Global said it has inked a deal with Longfellow Nemaha LLC, a subsidiary of U.S.-based Longfellow Energy, to acquire a 20 percent stake in the Nemaha oil field located in OklahomaWith fellow local companies GS Energy and Fine Partners Corp. also each winning a 10 percent stake during the bid in Dallas, Kore
IndustryMay 6, 2012