Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Seoul to promote luxurious side of the city
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Brand report puts Samsung, three telecoms in top 100
Samsung Electronics’ handset division was ranked No. 23 this year among world’s telecom brands in a report released by London-based brand evaluation consultancy Brand Finance on Wednesday.In a report that announced the top 500 telecom brands around the world, SK Telecom, the country’s leading mobile carrier, was placed in 49th place, followed by KT Corp. at 55th.LG Uplus entered the top 100 in 89t
IndustryJune 1, 2011
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SK Group adds 80 billion won to shared growth fund
SK Group announced Wednesday that it will increase the fund established to support small and medium-sized enterprises by 80 billion won ($74 million) to 230 billion won.The additional funds were raised by SK Telecom, SK Global Chemical Co. and a financial institution. The SK Group subsidiaries put together 32 billion won, the conglomerate said. The fund was established in 2009 with 120 billion won
IndustryJune 1, 2011
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Hyundai to develop sedan only for China by 2013
Hyundai Motor said that it would develop a mid-sized sedan aimed at mostly Chinese customers by 2013.The project to launch a China-oriented sedan came as the automaker anticipates that the sales of middle-class sedans will surge in coming years in the Asian superpower, a Hyundai spokesman said Wednesday.“The China-oriented sedan will not be a remodeled car,” he said. “A new model which would under
MobilityJune 1, 2011
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Samsung SDI vows energy supremacy
Samsung SDI, on Wednesday vowed to become a global energy firm catering to future needs for recyclable energy marking the official takeover of the solar battery business from its sister firm, Samsung Electronics. With the $147.6 million swap, SDI said it will target annual revenues of 13 trillion won ($12.1 billion) in 2015 and up to 35 trillion won in sales by 2020. More than half of the sales, a
IndustryJune 1, 2011
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Samsung, POSTECH may sue KTB Asset
Chang denies advice on corrupt investment in Busan Savings BankThe snowballing lobby scandal involving Busan Savings Bank is taking a new twist as two scholarship foundations threatened to sue an asset management agency, claiming that it advised them to invest in the failing bank.The private Pohang University of Science and Technology and Samsung Dream Scholarship Foundation said they would file a
June 1, 2011
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Investment banks expect Korea’s inflation to grow 4.1 percent
Global investment banks forecast Korea’s consumer prices to increase more than 4 percent this year, citing sustained economic growth and high oil prices, data showed Wednesday.The average of inflation projections made in May by nine foreign investment banks, including Barclays Capital, rose to 4.1 percent from the 3.9 percent predicted in the previous month, according to the data provided by the K
June 1, 2011
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Seoul shares end flat on auto falls, bank gains
Korean stocks finished nearly unchanged on Wednesday as losses among automakers outweighed bank gains, analysts said. The local currency climbed against the U.S. dollar.After opening slightly higher, the benchmark KOSPI shed 0.05 percent, or 1.13 points to 2,141.34. Trading volume was moderate at 289 million shares worth 8.02 trillion won ($7.44 billion) with losers leading gainers 437 to 382. “Th
June 1, 2011
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Korea’s trade surplus narrows sharply in May
Korea’s trade surplus shrank sharply in May from the previous month as imports grew at a faster clip than exports due to high international energy prices, a government report showed Wednesday.The country’s trade surplus reached $2.75 billion in May, compared with a $5.14 billion surplus in April, according to the report by the Ministry of Knowledge Economy. Exports rose 23.5 percent on-year to $48
June 1, 2011
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Hana Financial strives to revive KEB deal
FSC hints at ruling against Lone Star ownershipHana Financial Group is striving to maintain its position as the provisional acquirer of Korea Exchange Bank after the preliminary deal with the bank’s biggest shareholder expired a week ago.Though Hana Financial officials had said the group would soon announce the extension of the deal with U.S.-based Lone Star Funds, which holds a 51 percent stake i
June 1, 2011
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[Herald Interview] Top stem cell expert urges lower regulatory barriers
Park Se-pill (Park Hyun-koo/The Korea Herald)The fabricated cloning research by Hwang Woo-suk in 2006 remains a painful memory for Koreans, who had taken pride of their nation’s edge in a field that promised to transform medicine. No one agonized more over the fraud case than Park Se-pill, Korea’s top stem-cell researcher. Research in the area was brought to a virtual standstill as the government
IndustryJune 1, 2011
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LGE’s nagging slump puts CEO to the test
LG Electronics is used to being No. 2. A powerful global electronics brand in its own right, the Seoul-based company has not made it to the highest of peaks. This seemed to be all right, however, as long it could rub shoulders with its top-tier rivals. But a raging “smart war” in the mobile industry changed all that, and LG Electronics is in bad shape in that sector. Koo Bon-joon, vice chairman an
IndustryJune 1, 2011
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China says manufacturing slows in May
China’s manufacturing expanded at the slowest pace in nine months in May as the government extended a campaign to cool inflation and the property market, a survey of companies indicated. The Purchasing Managers’ Index was at 52 from 52.9 in April, the China Federation of Logistics and Purchasing said in an emailed statement. The number was higher than the median forecast of 51.6 in a Bloomberg New
IndustryJune 1, 2011
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World of fusion exercise classes is expanding
LOS ANGELES ― Most people would not think of combining seemingly polar opposite pursuits such as Pilates and boxing. But the odd pairing makes perfect sense to one fitness instructor.Former dancer and certified Pilates teacher Viveca Jensen thought the mindful core-strengthening properties of Pilates would complement and counterbalance the quick cardio-heavy pace of noncontact boxing with weighted
TechnologyJune 1, 2011
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Millionaires control 39% of the world's wealth
More than 1 million millionaires live in China, their ranks swollen last year by economic growth, savings and a strengthening currency, according to a Boston Consulting Group survey. Millionaire households jumped 31 percent to 1.11 million in 2010 from the previous year, a BCG Global Wealth Survey released Tuesday showed. That puts China in third place for millionaire households, behind the 5.22 m
June 1, 2011
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S. Korea's consumer prices grow 4.1 pct in May
SEOUL, June 1 (Yonhap) -- South Korea's consumer prices grew at a slower pace in May, but they were still quite higher than the government's inflation target, raising concerns that price hikes still remain a drag on the nation's economic recovery, a report showed Wednesday.According to the report by Statistics Korea, the country's consumer price index rose 4.1 percent last month from a year earlie
June 1, 2011
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Jobs to unveil Apple software innovations
A man wait outside an Apple Store in Beijing, capital of China, May 6, 2011. (Xinhua-Younhap News)SAN FRANCISCO, May 31, 2011 (AFP) - Ailing chief executive Steve Jobs returns next week from sick leave to unveil Apple's latest generation of software, the firm announced Tuesday.The 56-year-old cancer survivor will present Apple's new operating system, dubbed "Lion," at a developers conference in Sa
TechnologyJune 1, 2011
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Experts say cellphones are possibly carcinogenic
(MCT)LONDON (AP) _ A respected international panel of experts says cellphones are possible cancer-causing agents, putting them in the same category as the pesticide DDT, gasoline engine exhaust and coffee.The classification was issued Tuesday in Lyon, France, by the International Agency for Research on Cancer after a review of dozens of published studies. The agency is an arm of the World Health O
TechnologyJune 1, 2011
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HSBC, Credit Agricole rapped for irregularities
Royal Bank of Scotland also faces sanction from financial regulatorFinancial regulators have taken punitive actions against two European bank branches for their irregular trading of derivatives and plan to reprimand another Europe-based bank operating in Seoul.In a statement Tuesday, the Financial Supervisory Service said it has issued a warning against the Seoul branch of HSBC Holdings plc and Cr
May 31, 2011
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Smaller gold rings: solution to surging prices
Korea is poised to stimulate the market for solid gold rings as the popularity of the traditional first-birthday gift has slackened in the face of skyrocketing commodities prices, the Ministry of Knowledge Economy said Tuesday. Gold prices per “don,” a Korean measure equivalent to 3.75 grams, have surged more than four-fold in six years to roughly 230,000 won ($213), the ministry said in a stateme
May 31, 2011
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Samsung, LG to jointly develop thin-film solar cells
Samsung Electronics Co. and LG Electronics Inc. will take part in a government-private research program to develop next-generation thin-film solar cells, officials said Tuesday.The program is one of the five research and development efforts to be pursued by the government and private sector up until 2013 at a cost of 700 billion won ($648 million), the Ministry of Knowledge Economy said.Samsung an
IndustryMay 31, 2011