Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Inflation eases in April, continues bumpy ride
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S. Korea's foreign reserves hit fresh high in Feb.
South Korea's foreign exchange reserves climbed to a new high in February as a weaker U.S. dollar boosted the conversion value of assets in other currencies, the central bank said Thursday. The country's foreign reserves reached US$297.67 billion as of the end of February, up $1.71 billion from the previous month, according to the Bank of Korea. The reserves rose for the third consecutive mont
March 3, 2011
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Seoul shares open higher on auto, tech gains
South Korean stocks got off to a strong start on Thursday, fueled by advances in shares of automakers and technology firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose17.37 points, or 0.9 percent, to 1,945.61 in the first 15 minutes of trading. Autos propped up the KOSPI with Kia Motors rising more than 2 percent and Hyundai Mobis, the country's largest auto par
March 3, 2011
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Stagflation looms large on extended inflation: experts
Consumer prices rise 4.5% in Feb.Consumer prices in February rose above the government’s target for the second month in a row amid signs of slower growth, bolstering concerns of stagflation.The Consumer Price Index advanced 4.5 percent from a year ago to a 27-month high, following January’s 4.1 percent gain from last year. The Bank of Korea targets inflation rates to remain at 3 percent level for
March 2, 2011
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Samsung scoops 30 design awards
Samsung Electronics Co. announced Tuesday that it won 30 prizes, including two top honors, at an international design exhibition.The Korean electronics giant said it grabbed 30 awards at the 2011 iF Product Design Award. Organized by the International Forum Design in Hanover, Germany, since 1953, the award recognizes products for their overall design, originality and their consideration for enviro
March 2, 2011
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Vizio overtakes Korean firms in N. American LCD TV market
Korean TV makers were overtaken by Taiwan‘s Vizio Inc. in North America’s liquid crystal display TV market last year, according to a market research firm Wednesday.Vizio sold 6.96 million LCD TVs in the United States and Canada, accounting for 18.2 percent of LCD TVs sold in the market last year, according to data from market researcher DisplaySearch. Samsung sold 6.72 million LCD TVs in 2010, cla
March 2, 2011
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LG wins import ban on PlayStations in Europe
LG Electronics Inc. said Wednesday that it has won an injunction from a Dutch court to temporarily ban Japanese electronics giant Sony Corp. from shipping PlayStation game consoles to Europe. “LG requested the import ban on products that infringed on our patents as part of our patent protection policy,” Yoon Won-il, LG’s spokesman at the company’s headquarters, said by phone. The order from a civi
IndustryMarch 2, 2011
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Carmakers count on green tech to offset costly fuel
GENEVA (AP) ― Mass-market automakers like Toyota, Fiat and Ford say green technologies on display at the Geneva Auto Show will help them weather the impact of skyrocketing fuel prices ― while less humble sports carmakers like Lamborghini flaunted their gas guzzlers.Companies rolled out a raft of new models ― including many electric, hybrid and more efficient conventional engines ― in a sign of ren
IndustryMarch 2, 2011
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European buyers to increase Korean imports after FTA
Korean exports to the European Union are expected to register solid gains once a bilateral free trade agreement takes effect, a local trade organization said Wednesday.The Korea Trade-Investment Promotion Agency (KOTRA) said a survey of Europe’s 26 largest importers showed they will increase their purchases of Korean products by up to 15 percent once the Korea-EU FTA is enforced.The trade deal, si
March 2, 2011
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Exports shore up local carmakers’ February sales
Improving overseas shipments boosted five South Korean carmakers’ sales in February, industry data showed Wednesday.Compared to February 2010, Hyundai Motor Co.’s sales increased by 12.1 percent to come in at just 281,000 units. Hyundai’s overseas sales recorded a year-on-year rise of 14.8 percent, while domestic sales increased by less than 500 units or 0.9 percent.The country’s second largest ca
IndustryMarch 2, 2011
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KB Kookmin Card targets No. 1 issuer
CEO says company will focus on product diversity and convergence with telecom sectorKB Kookmin Card set out its ambition to take the No. 1 position in the domestic market as the former Kookmin Bank unit, restarted as a separate corporation on Wednesday.KB Financial Group launched the stand-alone credit card firm eight years after the money-spinning unit was merged into the bank in 2003.The unit ha
March 2, 2011
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United Pharm launches elderly support project
Korea United Pharm. Inc., a local pharmaceuticals producer, launched a new social contribution project aimed at helping underprivileged senior citizens in Gangman-gu in southern Seoul on Monday.For the project, the company’s United Foundation signed an agreement with the Korean Senior Citizens Association and Gangnam-gu Office to collaborate on the project. Korea United Pharm CEO Kang Duk-young (r
IndustryMarch 2, 2011
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KT completes national 4G WiBro network
KT Corp. announced Wednesday that it has established a fourth generation wireless broadband (WiBro) network across the nation, enabling users to gain faster access to the Internet on their mobile devices.Pyo Hyun-myung, president of KT’s mobile business group, said the country’s top wireless Internet zone operator has set up the high speed network in 82 cities and on seven highways nationwide to k
IndustryMarch 2, 2011
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Media expert to head Walt Disney Korea
The Walt Disney Company announced on Wednesday it appointed Luke Kang, a broadcast media specialist, as new senior vice president and managing director for the Korean unit.Kang, a Korean-American, will oversee the unit’s strategy and business and coordinate Disney global franchises in the market, the company said in a statement. Luke Kang“The combination of Disney’s award-winning content with Kore
IndustryMarch 2, 2011
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Fleet expansion, push into generators may double Doosan orders
Doosan Engine Co., the world’s second-largest maker of ship engines, said orders may more than double this year as shipping lines resume fleet-enlargement plans and the company works to expand its non-marine businesses.Contracts may climb to 1.8 trillion won ($1.6 billion) from 890 billion won last year, chief executive Lee Sung-hee said in an interview at the engine maker’s headquarters in Changw
CompaniesMarch 2, 2011
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[Herald Interview] ‘Firms need to get trust of global opinion leaders’
The Korean corporate sector, despite its rapid industrial success and latest attempts to become a trusted member of the global corporate society, has yet to gain the full trust of global opinion leaders, an executive of PR firm Edelman said. In its annual survey for measuring trust in business, government, NGOs and media in over 20 nations, the company said that opinion leaders across the world le
IndustryMarch 2, 2011
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[Meet the CEO] KORES spearheads Korea’s rare earth search
State-run mineral developer looks to Africa, South America to ensure stable supply of resourcesKorea Resources Corp. is at the forefront of Korea’s drive to secure stable supplies of natural resources including rare earths crucial to its high-tech economy.Global competition is growing to secure sources of 17 scarce metals used to make cutting-edge products such as mobile phones, electric cars, win
CompaniesMarch 2, 2011
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Daewoo Shipbuilding wins 1.2 tln won drill ship orders
Daewoo Shipbuilding & Marine Engineering Co., South Korea's No. 2 shipbuilder, said Wednesday that it has won a 1.2 trillion won ($1.06 billion) order to build two drill ships.Under the deal with Aker Drilling of Norway, Daewoo Shipbuilding will deliver the vessels, used to explore for oil and gas wells in deep waters, by 2013, the company said in a statement.Daewoo Shipbuilding said it has an opt
IndustryMarch 2, 2011
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Alzheimer's disease may be passed down from ailing mothers, study suggests
Mothers may be more likely to pass down Alzheimer’s disease to their children than fathers, a finding that may help identify patients earlier, researchers from the University of Kansas School of Medicine said. Healthy older adults with no cognitive problems whose mothers had Alzheimer’s disease had more brain shrinkage than those who had a father or no parent with the disease, according to researc
TechnologyMarch 2, 2011
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S. Korea OKs commercial operation of 21st nuclear reactor
South Korea's science and technology ministry said Wednesday that it has authorized the commercial operation of the country's 21st reactor after conducting detailed safety tests.The ministry said checkups conducted by the state-run Korea Institute of Nuclear Safety showed the New Gori 1 reactor, located about 450 kilometers southeast of Seoul, met all nuclear safety requirements."The notification
TechnologyMarch 2, 2011
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Koreans forecast to be 4th richest in 2040s
South Korea is expected to emerge as the world’s fourth richest country in terms of purchasing power in the 2040s, according to a report by Citigroup.The country’s economic surge will be powered by its high levels of technology and human resources and would be further boosted by a possible reunification with North Korea, analysts said.According to the U.S. investment bank’s report, cited by the Ko
March 2, 2011