Most Popular
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Yoon sorry for shortcomings but insists policies were right
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S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
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US 'incredibly concerned' about suspected NK-Iran military ties
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1 in 3 Koreans live alone, family types becoming diverse
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Korean won weakens amid heightened uncertainty
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Sewol victims commemorated on tragedy's 10th anniversary
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Seoul says will cut power to porn festival planned on Han River
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Chanel, Louis Vuitton see muted growth in Korea
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Conservative bloc divided over Han’s role in election defeat
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Neowiz COO picked as game group head
The Korea Association of Game Industry announced Friday that it seated Choi Kwan-ho, chief operating officer of Neowiz Games, as its chairman, filling in the position which was left vacant for three months.In a press conference held in southern Seoul, Choi said he plans to file a constitutional petition in protest of the government’s decision to implement the new “Cinderella law” later this year.T
IndustryMay 20, 2011
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No. of elderly weddings doubles in 10 years
Getting married is becoming increasingly popular among the elderly. Over 18,791 couples aged 50 years old or more got married last year alone, the highest figure on record. According to Statistics Korea, The number is 3.7 times increase from 1990 when only 5,014 couples in the same age group chose to wed their partner. It is also almost double the 8,928 newly married elderly couples in 2000.“The p
May 20, 2011
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Hana says will agree KEB deadline delay with Lone Star
Hana Fnancial Group chairman Kim Seung-yu said Friday that his company would be able to agree with the U.S. Lone Star Funds to extend the deadline for the takeover of Korea Exchange Bank. “We can draw a conclusion by next weekend,” Kim told The Herald Business, the sister paper of The Korea Herald.The two sides are in talks to extend their May 24 deadline. Kim reportedly flew to Tokyo on Wednesday
May 20, 2011
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Study finds dark energy exapands universe
(AP-Yonhap News)The existence of “dark energy” that accelerates expansion of the Universe has been confirmed by an astronomical survey of about 200,000 galaxies, BBC reported. Dark energy makes up some 74 percent of the Universe and its force pulls the Universe apart at increasing speed. “The action of dark energy is as if you threw a ball up in the air, and it kept speeding upward into the sky fa
TechnologyMay 20, 2011
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Taiwan's HTC to debut new smartphone in S. Korea
HTC's new smartphone unveiled in Seoul on Friday (Yonhap News) HTC Corp. said Friday it will release its new flagship smartphone in South Korea next week, hoping that the phone's movie streaming feature will help the Taiwanese firm gain ground. SK Telecom Co., South Korea's largest mobile phone carrier, will exclusively release the Sensation smartphone on May 25, said HTC's North Asia Pr
TechnologyMay 20, 2011
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State pension fund CEO stresses shareholder rights
Korea's national pension fund needs to rigorously exercise its shareholder rights as it is along-term investor with massive assets under management, its headsaid Thursday.Controversy has heated up over whether pension funds should exercise their shareholder rights in the country's family-ownedconglomerates since Kwak Seung-joon, a key presidential aide,brought up the issue last month."Exercising s
May 19, 2011
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Samsung C&T leads green innovation in construction
Samsung C&T Corp., the country’s No. 2 builder, is strengthening its eco-friendly capabilities to take the lead in applying green technologies to the construction sector.The company, which developed the zero-energy building Green Tomorrow, has been strengthening research and development efforts, as well as securing a pool of experts. Green Tomorrow contains 68 eco-friendly technologies, allowing t
IndustryMay 19, 2011
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STX Heavy signs W3tr Iraq power plant deal
STX Heavy Industries Co. announced Thursday that it has signed a 3 trillion won ($2.77 billion) contract to build power plants in Iraq.The contract was signed in Baghdad at a ceremony attended by STX Heavy Industries chief executive Lee Chan-woo, Iraqi Prime Minister Nouri al-Maliki and Electricity Minister Raad Shallal. STX Heavy Industries Co. and Iraqi officials including CEO Lee Chan-woo (thi
IndustryMay 19, 2011
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Samsung wins award for 3-D TV
Samsung Electronics has received the Best in Show award for its 70-inch “Ultra Definition” 3-D technology at this year’s Display Week 2011, the company said on Thursday. The Society for Display, a leading global organization dedicated to electronic display technology and organizer of the event, announced the selection of Samsung Electronics at Display Week, which is being held in Los Angeles this
IndustryMay 19, 2011
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POSCO Power completes first hydrogen fuel cell stack
The country’s first hydrogen fuel cell stack developed with local technology was completed, POSCO Power announced Thursday.Affiliate of the steelmaker POSCO, POSCO Power is the country’s largest private power generating firm.POSCO Power’s fuel cell stack has a generating capacity of 1.4 megawatts, which according to the company is sufficient to supply 1,600 households. POSCO Power employees work
IndustryMay 19, 2011
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Pantech SKY unveils high-speed Vega Racer
Pantech SKY unveiled the world’s first Android-powered smartphone equipped with Qualcomm’s speedy 1.5 gigahertz dual core processor called Vega Racer on Thursday.The company said that its new smartphone with a 4.3-inch display screen would be available in four different colors and serviced by the country’s three telecom suppliers ― SK Telecom, KT Corp. and LG Uplus.“We attempted to upgrade the dua
IndustryMay 19, 2011
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[News Focus] Mixed fate for Hynix, Korea Express
Two heavyweight firms up for grabs on local M&A marketThe company boasts a healthy financial report card, and has long-term expertise in logistics as one of the nation’s first logistics firms ― it was established in 1930. No one for Hynix Hynix, due to its heavy dependence on research and technology, is considered a business that is not as lucrative as expected because of the capital it is forced
IndustryMay 19, 2011
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Overseas investment fair kicks off
The Korea Overseas Investment Fair 2011 kicked off Thursday in Seoul to provide Korean companies with comprehensive information on foreign investment, according to the Korea Trade-Investment Promotion Agency, its organizer. In the two-day event at COEX in southern Seoul, officials from 29 countries in Europe, Asia, Africa, the Middle East and Latin America had one-on-one meetings and discussed bus
IndustryMay 19, 2011
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LS Cable and System develops power cable for airplanes
LS Cable and System, the country’s largest producer of cables and wires, announced Thursday that it has developed a cable for supplying power to airplanes, a first time for Korea. The cable was supplied to Incheon International Airport Corp. According to the company, the new cable is capable of carrying electrical currents of up to 400 hertz frequency, making the new product compatible with electr
IndustryMay 19, 2011
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NHN posts solid figures in Q1
NHN Corp., an Internet content service operator, announced Thursday it recorded 517.3 billion won ($4.76 million) in operating revenue and 168.5 billion won in operating profit for the first quarter, both figures profiting from an increase in search advertisements.The company, well-known for its search engine Naver and online game site Hangame, said its operating revenue and operating profit surge
IndustryMay 19, 2011
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Banks ordered to cut down forward trading
The financial authorities will soon instruct banks to slash their forward trading, as part of government measures to crack down currency speculation by regulating foreign exchange positions.The Ministry of Strategy and Finance and the Bank of Korea said on Thursday that they have decided to order banks dealing with foreign currency trading to reduce the ceiling of forward trading by about 20 perce
May 19, 2011
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Hana-KEB deal delay weakens both: Moody’s
Analyst says extended FSC deadlock especially damaging for KEBThe financial regulator’s delay in approving Hana Financial Group’s bid of Korea Exchange Bank is credit negative for both lenders but especially for the lender long been put up for sale, credit rating agency Moody’s said Thursday. “We gave an A2 to KEB because one, their performance was good and two, we expected it to be sold over to H
May 19, 2011
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[Herald Interview] ‘Tighter rules needed before Woori sale’
Bancorp CEO says new rules would be desirable for megabanks in KoreaBetsy Cohen, founder and CEO of U.S. internet retail bank Bancorp Inc., said tightening capital and liquidity rules should come before the creation of the megabank due to be formed by the privatization of Woori Financial Holdings.“Size is not protected easily. Activities of large institutions carry a great deal of risk for a wider
May 19, 2011
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[Herald Interview] ‘Electronic traveler’s checks gaining popularity’
An electronic version of the traveler’s check, which has gained popularity among Western travelers for its convenience and security, is also drawing interest in Korea.“In the past, we prepared traveler’s checks when going on a trip, but these days we need to hold a traveler’s card instead of traveler’s checks,” said Richard Kim, country manager of Card Services Korea. Card Services Korea country m
May 19, 2011
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Coffee cuts risk of lethal prostate cancer: study
WASHINGTON (AFP) ― More is better when it comes to drinking coffee to ward off the risk of deadly prostate cancer, according to a major U.S. study released by researchers at the Harvard School of Public Health.Men who drank six or more cups per day had a 60 percent lower risk of developing the most lethal type of prostate cancer and a 20 percent lower risk of forming any type of prostate cancer co
TechnologyMay 19, 2011