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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Kung fu helps cabin crew deal with troublesome passengers
Cabin crews from Hong Kong Airlines practise Wing Chun, a concept-based Chinese martial art or Kung Fu, during a lesson in Hong Kong Saturday, April 30, 2011. A Hong Kong airline makes all its cabin crews to take Wing Chun lessons as helping them to build the team spirit and to learn self-defense. (AP-Yonhap News)Hong Kong Airlines cabin crew are attending kung fu lessons to help them handle drunk
May 5, 2011
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EU FTA can boost exports of S. Korean SMEs: KOTRA
The free trade agreement (FTA) with the European Union (EU) that was ratified by South Korea's parliament can boost exports of products made by local small and medium-sized enterprises (SMEs), a state-run trade promotion agency said Thursday. The Korea Trade-Investment Promotion Agency (KOTRA) said it has selected 10 products that local companies enjoy global competitiveness in and that could m
May 5, 2011
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U.N. agency could press N. Korea to stop hacking Seoul: report
A United Nations agency responsible for information and communication technologies could urge North Korea to stop its run of cyber attacks on South Korea, a U.S. report said Thursday. In an interview with Radio Free Asia (RFA), Sanjay Acharya, spokesman for the International Telecommunication Union (ITU), said the board of directors at the Geneva-based agency could press North Korea since it is
TechnologyMay 5, 2011
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Asian countries agree on crisis prevention efforts
Finance ministers of Asian countries agreed Wednesday to intensify their cooperation in staving off Asia-wide financial turmoil by taking preemptive crisis prevention measures, Seoul officials said.The agreement, which was made during a meeting in Hanoi, Vietnam, focuses on strengthening the role of a regional financial safety net under the Chiang Mai Initiative Multilateralization (CMIM), the Min
May 4, 2011
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Foreign stock ownership tops 400 trillion won
Foreign ownership of stocks listed on the Korea Exchange has exceeded 400 trillion won ($373 billion) for the first time. The record figure comes four years after their holding reached 300 trillion won in May 2007.The Financial Supervisory Service said Wednesday that foreign investors’ holdings of local shares came to a record high of 412.5 trillion won at the end of April, up 17.1 trillion won fr
May 4, 2011
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Finance chiefs vow to bolster regional safety net
Korea, China, Japan agree to double regional emergency liquidity fundFinance ministers of South Korea, Japan and China on Wednesday vowed to strengthen the crisis prevention function of the current regional financial safety net of the Chiang Mai Initiative, their joint statement said.Gathered for an annual Asian Development Bank conference in Hanoi, Vietnam, the three finance chiefs also agreed to
May 4, 2011
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Value of automobile imports to reach 10% of exports
The value of the country’s automobile imports may exceed 10 percent of the value of exports for the first time this year.According to industry data, the value of automobiles imported into the country during the first quarter of the year came in at $1.15 billion while that of exports was tallied at $9.37 billion. The figures include passenger cars, buses and commercial vehicles.At the current rate,
IndustryMay 4, 2011
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STX to offer internships to Saudi Arabian students
STX Group is to set up internship programs for Saudi Arabian students, the conglomerate announced Wednesday.The group, the country’s 12th largest business group, signed a memorandum of understanding regarding the issue with the Saudi Arabian Culture Mission to Korea at the group’s office in Seoul.Under the agreement, the group will offer internship programs at its subsidiaries including STX Offsho
IndustryMay 4, 2011
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Retired FSS staff banned from working at banks
The Financial Supervisory Service on Wednesday decided to ban its staffers from taking senior posts at financial companies right after their retirement as a way to prevent corruption. The decision came as part of its sweeping reform measures following several incumbent FSS staffers’ wrongdoings.In its statement, the regulatory body said it would ban the habitual practice under which incumbent and
May 4, 2011
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Samsung’s Galaxy S2 gains instant popularity
Samsung Electronics’ flagship smartphone Galaxy S2 is creating its sales sensation in the local mobile industry as doubled compared to its previous model.The total number of units sold for the upgraded Galaxy S, serviced by the country’s three telecoms, surpassed 120,000 in only three days, according to industry sources.The figure sold by the nation’s leading mobile carrier SK Telecom came to abou
IndustryMay 4, 2011
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SK Group joins no-smoking drive
Yet another industrial giant has decided to join the growing number of companies to create a smoke-free working environment.On Wednesday, SK Group, a local energy and telecom giant, said it informed workers that it is to completely ban smoking from its headquarters starting next week. The ban will be effective from Monday in all 35 stories of the SK building in downtown Seoul, which serves as home
IndustryMay 4, 2011
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[Meet the CEO] Head hunter bolsters global network
Honors Career is Korea’s first member of prominent global allianceLocal executive search firm Honors Career International is seeking to further bolster its presence in the market through a fresh global network and profound local expertise, its chief executive Chris Kim said. The firm became a member of IRC Global Executive Search Partners, a prominent international alliance of independent retained
IndustryMay 4, 2011
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For most, lunch time not just for a meal
One out of four workers prefers doing something more productive during lunch time than just eating, according to a survey.In a research conducted by Saramin, an online recruitment website in Korea, about quarter of participants said they were “lunch tourists.” The term refers to those who spend lunch break just for themselves, rather than having a long meal or interacting with colleagues.Out of th
May 4, 2011
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HMA posts record April sales due to recovering economy
WASHINGTON (Yonhap) -- Hyundai Motor America announced all-time record April sales on Tuesday as the world's biggest economy continues to stabilize after the worst recession in decades. HMA sold 61,754 units, up 40 percent from a year earlier. The figure for the first four months of this year is 204,374 vehicles, up 31 percent from 155,532 during the same period last year. Hyundai's sister co
May 4, 2011
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Foreign ownership of S. Korean stocks tops 400 tln won
Foreign ownership of South Korean stocks exceeded the 400 trillion won ($374 billion) mark for the first time ever in April on their brisk buying spurred by strong corporate earnings, the financial regulator said Wednesday. Foreign investors' holdings of local shares amounted to 412.51 trillion won as of the end of April, or 30.8 percent of the total market cap, according to the monthly report b
May 4, 2011
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FSS official apparently committed suicide
An official of South Korea's financial regulator apparently jumped to his death on Tuesday, but the incident does not appear to be related to a scandal involving a local savings bank, police and the Financial Supervisory Service said, according to Yonhap News. The official, identified only by his surname Kim, was bleeding when he was found by a security guard at the entrance of an apartment on Tu
May 4, 2011
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Foreign reserves top $300 billion
Disputes over optimum level may resurfaceSouth Korea’s foreign exchange reserves have surpassed $300 billion for the first time, up more than 50 percent from 2008 global financial crisis.The Bank of Korea reported Tuesday that foreign reserves reached a new high of $307.2 billion at the end of April, up $8.58 billion from a month earlier.The amount also posted growth of 52.6 percent compared to $2
May 3, 2011
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Hanwha Group adopts new values in drive for growth
Hanwha Group will follow the principles of “challenge, dedication and integrity” as it seeks to innovate its operations in its drive to become a global player, the company announced Tuesday.Excluding state-run companies, Hanwha Group is the country’s 10th largest conglomerate. Hanwha Group chairman Kim Seung-youn (left) shakes hands with a representative of Hanwha employees at the ceremony declari
IndustryMay 3, 2011
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LG Uplus Q1 profit plunges 90% on costs
South Korea’s smallest mobile carrier, LG Uplus Corp., said Tuesday that its first-quarter earnings tumbled 90 percent from a year ago, hit by higher costs and lower revenues from subscribers. Net income reached 57 billion won ($54 million) in the January-March period, compared with 543 billion won a year earlier, the company said in a regulatory filing.Sales fell 13 percent from one year ago to 2
IndustryMay 3, 2011
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Banks’ earnings inch up
South Korean banks saw their earnings inch up 1.2 percent in the first quarter from a year earlier thanks to increased interest income, the financial regulator said Tuesday.The combined net income of 18 local banks, including top player Kookmin Bank and state-run Korea Development Bank, came to 4.4 trillion won ($4.1 billion) in the January-March period, compared with 4.3 trillion won a year earli
May 3, 2011