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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Seoul Metro to seek legal action against malicious complaints
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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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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Golden chance to liquidate babies’ gold rings?
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LGE to step into energy consulting business
LG Electronics, Korea’s leading consumer electronics manufacturer, said Sunday that it plans to start a business-to-business energy consulting service next month as a new source of income.The business will involve analyzing energy flows, including heating and air conditioning in office buildings and providing solutions for energy saving. LG’s initiative reflects the group’s efforts to secure futur
IndustryFeb. 28, 2011
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Libyan unrest worries Korea
The intensifying turmoil in Libya and the Middle East is feared to serve a major blow to the Korean economy and its firms doing business in the region. Korean builders seem to be hit hardest by the political crisis as most of their projects there have been put on hold and workers have fled Libya during the past week. Local firms’ unpaid fees from their Libyan partners have reached about $19 millio
Feb. 28, 2011
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China’s 5-year plan promises big changes
BEIJING (AP) ― China’s leadership is promising to steer the economy in a new direction in its blueprint for the next five years that would empower consumers and narrow a yawning wealth gap but require politically contentious reforms.The latest Five-Year Plan ― a throwback to central planning but a useful roadmap of party goals ― calls for creating self-sustaining growth based on domestic consumpti
IndustryFeb. 28, 2011
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Korea to expand tariff quota on powdered milk, pork belly
Korea will expand the amount of powdered milk and frozen pork belly subject to no import taxes as part of efforts to ease price hikes sparked by the massive slaughter of livestock amid the spreading foot-and-mouth disease, the finance ministry said Monday.The measure, finalized during a Cabinet meeting held earlier in the day, will go into effect from early March under the government’s quota tarif
Feb. 28, 2011
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[News Focus] Legislation stall hinders access to Islamic money
Korea’s recent failure to legislate tax benefits for sukuk, or Islamic bonds, is seen to begin taking a toll on the country’s access to one of the world’s fastest growing financial sources. The Malaysian government is said to have declined requests by Korean companies to grant issuance of corporate bonds in the country, spurring concerns that it may be the first reaction to Korea’s reluctance to g
Feb. 28, 2011
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FSC may approve Hana’s takeover of KEB in March
The Financial Services Commission is expected to approve Hana Financial Group’s takeover of Korea Exchange Bank in March, an official said on Monday. “There seems to be no major problem with its funding plans,” said an FSC official.He said the regulatory body is likely to approve Hana’s request at a meeting on March 16. His remark came after several securities firms raised the possibility that Han
Feb. 28, 2011
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[Herald Interview] Asia needs to reduce dollar use: UNCTAD chief
Asian countries should increase use of their local currencies in inter-regional trade settlements to avoid currency disturbances stemming from U.S. monetary policies, Supachai Panitchpakdi, secretary-general of the U.N. Conference on Trade and Development, said. “By creating more account settlement in, say Chinese renminbi, Indonesian rupiah, or the Korean won, the region could relax tension arisi
Feb. 28, 2011
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LGE to hire 1,100 workers in first half of this year
LG Electronics said Monday it will hire 1,100 new employees for the first half of this year, up 83 percent from the number recruited during the same period last year.The world’s No. 3 handset maker said that 80 percent of its newly hired workforce in four different business units will be involved in research and development activities.The company will also employ more software developers so that t
IndustryFeb. 28, 2011
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Ssangyong Motors returns to profit
Ssangyong Motors Co. on Friday posted net profits of 8.1 billion won ($7.2 million) for 2010, marking a return to profit after two years in the red.The company, which recorded net loss of 346 billion won in 2009 and 710 billion won in 2008, said that rising sales and cost-cutting efforts allowed it to return to profit.Last year, the company’s domestic and overseas sales increased by 131.6 percent
IndustryFeb. 28, 2011
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[Herald Interview] Former lawmaker sees U.S. FTA ratification soon
The only Korean-American to have served in U.S. Congress expects the KORUS FTA to be ratified in the U.S. soon, possibly within the spring. “I think it’s going to be ratified easily, perhaps by May,” Jay Kim told The Korea Herald last week. “There’s no problem here, (but) I’m concerned about Korea.” Kim, born Kim Chang-jun in Seoul in 1939, emigrated to the U.S. in 1961, where he studied civil eng
Feb. 28, 2011
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Fujifilm to buy Merck unit for biotech supplies
Fujifilm Holdings Corp. agreed to buy Merck & Co.’s BioManufacturing Network for making supplies used in clinical studies of biological drugs, a Merck spokesman said in an interview.The network Fujifilm is acquiring is made up of Merck subsidiaries Diosynth RTP LLC in Research Triangle Park, North Carolina, and MSD Biologics (U.K.) Ltd. in Billingham, England, Ian McConnell, a spokesman for Whiteh
IndustryFeb. 28, 2011
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Geneva show to highlight practical models
South Korean carmakers are set to use this week’s International Geneva Motor Show to showcase practical new additions to their lineup.Hyundai Motor Co. Kia Motors Corp., GM Korea Co. and Ssangyong Motor Co. will take part in the trade show which opens Tuesday for a two-week run. About 70 conventional and eco-friendly models are making their debut at the show. Hyundai, Korea’s largest carmaker, wil
MobilityFeb. 28, 2011
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Low fat or low carb? Which is the better way to lose weight?
A low-fat diet will help you lose weight. Or is it a low-carbohydrate diet? Pore over decades of research and dozens of studies over this debate and you’re likely to be confused about the best way to go about reducing your waistline.“I think lowering carbs is what you should do,” says Heather Straight, a Pleasant Hill, California, mom of three who says she’s tried several diets. “At least, I think
TechnologyFeb. 28, 2011
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GM Korea says goodbye to Daewoo, hello to Chevrolet
GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., will officially launch the Chevrolet brand in South Korea this week, saying goodbye to Daewoo, a name that has endured in South Korea for the past 28 years, the company said Monday.The name of the company will officially be changed to GM Korea from GM Daewoo also from Tuesday, it added."The change of the company name is an e
MobilityFeb. 28, 2011
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Japan to build world’s fastest train
Central Japan Railway Company announced plans to construct the world’s fastest train, restoring its reputation as a leader in state-of-the-art high speed rail technology. Currently, the fastest train on earth operates in China. The new train with a speed of up to 498km/h is set to outpace China’s fastest, which manages 354km/h.Japanese passengers currently enjoy rapid transport with the “Shinkanse
IndustryFeb. 28, 2011
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Korea raises energy alert over oil prices
Measures in force to reduce energy useSouth Korea raised its energy alert level on Sunday and will launch a set of emergency conservation measures on Monday to counter surging crude oil prices, the Ministry of Knowledge Economy said. The government upgraded the country’s energy alert level from “blue” to “yellow,” the third-highest in the country’s four-tiered system. The country issued the “blue”
Feb. 27, 2011
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Disgraced clone scientist Hwang wins research project from Libya
A disgraced South Korean clone scientist has won a research project from Libya amid growing unrest in the North African nation, colleagues at his research lab here said Sunday. Under the 150-billion won ($133 million) project with the Libyan government, Hwang Woo-suk will conduct stem cell-related research activities for incurable diseases, according to Hwang's Sooam Bioengineering Research In
TechnologyFeb. 27, 2011
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Abarth 695 Tributo Ferrari super car
GENEVA (DPA) ― A stunner at the upcoming Geneva Motor Show is the Abarth 695 Tributo Ferrari ― a tiny super car in red, Scuderia-style stripes, lashings of mesh grille and unique Ferrari badging, and based on the Abarth 500.Built in cooperation with Ferrari, the 1.4-liter turbo motor has an output of 180 horsepower compared to the 135 hp of the standard model with acceleration from zero to 100 km/
MobilityFeb. 27, 2011
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Eco-Porsche Panamera headed for Geneva
STUTTGART, Germany (DPA) ― Porsche is presenting its second hybrid vehicle in the form of the Panamera S Hybrid at the Geneva Motor Show next month with an output of 380 horsepower and a consumption of only 6.8litres per 100 kilometers.Similar to the Cayenne, the Porsche Panamera S Hybrid is fitted with a 3-litre V6 compressor motor delivering 333 hp with the electric motor adding an additional 34
MobilityFeb. 27, 2011
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Mercedes to unveil sporty two-door coupe in Geneva
STUTTGART, Germany (DPA) ― Marking its 125th birthday Mercedes is entering for the first time the two-door compact coupe segment with a C-Class Coupe, deploying much of the same technology as in the recently launched C-Class.Tailored to a customer group aged 35-45, “we are consciously targeting new customers,” according to the head of Mercedes Sales and Marketing, Joachim Schmidt.Typical coupe fea
MobilityFeb. 27, 2011