Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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SC First Bank pinning hopes on compromise to end extended strike
Management at Standard Chartered First Bank Korea is pinning hopes on a compromise with unionized workers to end their months of labor strikes.The hope for settlement of the labor dispute that started on June 27 over the company’s move to introduce a performance-based wage system is coming as the go
Aug. 17, 2011
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MBK sole preliminary bidder for Woori Finance stake
Government may launch fresh round of bidding process to find investorMBK Partners submitted a preliminary bid for a stake in Woori Financial Group on Wednesday, becoming the sole bidder among the three potential private equity funds.The other two contenders ― Vogo Fund and T-Stone ― dropped out of t
Aug. 17, 2011
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Samsung braces for future uncertainties
Lee holds series of meetings as Korea’s top company faces challenges from global, industry-wide woesSamsung Group appears to be struggling to weather the latest global economic uncertainties stemming from troubles in some of the world’s largest economies, coupled with industry-embedded problems such
IndustryAug. 17, 2011
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Regulators express unease over financial groups’ dividends
Korea’s four major financial groups have been paying high dividends to shareholders compared to those paid by other listed companies, financial industry data showed Thursday.As foreigners account for a great portion of their shareholding structure, there has been anxiety over a capital flight in the
Aug. 17, 2011
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Financial market recovering: Bahk
Seoul shares extend run of gainsFinance Minister Bahk Jae-wan Wednesday vowed to closely monitor the market as it stabilizes on improved prospects.“Financial markets at home and abroad are stabilizing ... but concerns over possibly drawn-out fiscal woes in Europe and an economic slowdown in the U.S.
Aug. 17, 2011
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Uniqlo’s biggest Asian flagship store in Seoul
Uniqlo, a global casual wear brand run by Japan’s Fast Retailing Co., said Wednesday that it will open Asia’s biggest flagship store in downtown Seoul later this year to strengthen its presence here.The store, to be located in Myeongdong, one of the main shopping districts in Seoul, will be Uniqlo’s
IndustryAug. 17, 2011
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Chocolate wards off hunger, and maybe sunburn too
MONTREAL (AFP) -- Scientists in Canada said Monday that they plan to study whether eating dark chocolate not only satisfies sweet tooth cravings, but protects against sunburn as well.(MCT)The study by researchers at Laval University in Quebec will monitor the effects of chocolate consumption o
TechnologyAug. 17, 2011
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Local handset makers brace for Google’s Motorola buy
With Google Inc. inking a deal with Motorola Mobility to acquire the mobile phone maker for $12.5 billion Monday, local handset makers are bracing for changes the surprise takeover is expected to bring.While it was seen as positive in terms of patent protection for Android-powered smartphones becaus
IndustryAug. 16, 2011
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Hyundai firms plan W500b charity foundation
Hyundai Heavy Industries and some other companies bearing the Hyundai name will set up a charitable foundation with 500 billion won ($467 million), the shipbuilder announced Tuesday.Much of the fund will be raised by Hyundai Heavy Industries and its subsidiaries, and the group’s largest shareholder,
IndustryAug. 16, 2011
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KT&G to raise social spending
KT&G Corp., the country’s largest cigarette maker, plans to raise the proportion of annual revenues injected into corporate social responsibility projects to 3 percent.The target was included in the company’s long-term social contribution plans announced Tuesday.KT&G CEO Min Young-jin said in a stat
IndustryAug. 16, 2011
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CJ CheilJedang to build plant for animal feed amino acid in Malaysia
CJ CheilJedang, Korea’s largest food maker, said Monday that it will establish the world’s first methionine plant in Malaysia next year. In April, CJ sealed a deal with France-based chemical firm Arkema to make an investment of more than $400 million in Kerteh, Terengganu State of Malaysia. If
IndustryAug. 16, 2011
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Korea seeks stock market balance
Top regulators and heads of banking groups meet to discuss market stabilityKorea’s financial regulators and heads of banking groups agreed on the need to reduce the importance of foreign investors in the stock market, officials said Tuesday.It was the first time that the nation’s financial authoriti
Aug. 16, 2011
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Lotte Mart to expand China business
HONG KONG (Yonhap News) ― Lotte Mart Co., South Korea’s third-largest discount chain store, said Tuesday it will expand its China business by 2018 in an effort to boost its presence in China’s fast-growing retail sector. The chain, run by South Korea’s largest retail conglomerate Lotte Group, said i
IndustryAug. 16, 2011
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Korea Finance head offers to resign over Hynix sale
The head of policy lender Korea Finance Corp. offered to resign on Tuesday, taking responsibility for an uproar over the conditions of Hynix Semiconductor Inc.’s sale.Early last month, top mobile carrier SK Telecom and shipbuilding conglomerate STX Group submitted preliminary bids for a 15 percent s
Aug. 16, 2011
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Seoul to widen supply of Chuseok food items
Seoul plans to widen the supply of fruit, fish and fresh harvest products in the two weeks prior to Chuseok to control prices rising fast due to the long rainy spell, the Agriculture Ministry said. It will select 15 staple food items and allocate them evenly at major retailers and wholesale market p
Aug. 16, 2011
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Analysts forecast quick stock recovery
A group of analysts have predicted that the stock market, hit by the fiscal woes in Europe and the United States, will stabilize in the near future.They shared the opinion that the possibility of the U.S. economy falling into a double-dip recession is not so high.“Though the U.S. will experience a s
Aug. 16, 2011
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BC, banks team up to fight Visa
BC Card Co. and its 11 partner banks have agreed to join hands in protest against the “anti-market policy” of Visa, the Korean company said Tuesday. A consultative body, headed by a BC executive, expressed deep regret in a statement that Visa has fined BC unilaterally for refusing to use its global
IndustryAug. 16, 2011
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KOSPI posts biggest daily rally in 2 years
Local currency strengthens 0.79% to 1,070 against dollarSeoul shares took a dramatic upturn Tuesday, rising 4.83 percent to close at 1,879.87 as foreign investors buoyed by overnight gains in the U.S. turned into net buyers for the first time in 10 days. It is the biggest daily jump the benchmark KO
Aug. 16, 2011
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Korea logs trade surplus for 18th month
South Korea posted a trade surplus for the 18th straight month in July, fueled by strong exports of petroleum products, ships and automobiles, the customs office said Tuesday.The trade surplus came to $6.3 billion last month, up from $2.8 billion reported a month earlier, according to data by the Ko
Aug. 16, 2011
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Hyundai, Kia models named best low-cost cars to own in Australia
Cars made by Hyundai Motor Co. and its affiliate Kia Motors Corp. have been rated as the best low-cost ownership models in Australia, raising hopes for stronger sales down the road, industry sources said Tuesday.Hyundai’s i30 hatchback family car and Starex van and Kia’s Sportage R compact sport uti
IndustryAug. 16, 2011