Most Popular
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Yoon’s jailed mother-in-law excluded from latest parole list
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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Korea’s homegrown nanosatellite successfully launches into space
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SK hynix pledges W20tr to ramp up DRAM production at home
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SNU profs to suspend treatment for one day
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Hybe's multilabel system tested amid conflict with Ador
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Seoul shares open higher on U.S. economic optimism
South Korean stocks started higher on Thursday as investor sentiment got a boost from Wall Street gains sparked by growing optimism about the U.S. economic recovery, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 11.36 points, or 0.57 percent, to trade at 2,000.47 in the first 15 minutes of trading. Tech shares were in focus with market leader Samsung Electr
Feb. 17, 2011
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Obama wants FTAs with Korea, Colombia, Panama ratified this year: Geithner
WASHINGTON (Yonhap) -- The Obama administration is committed to pass through Congress pending free trade deals with South Korea, Panama and Colombia this year, Treasury Secretary Timothy Geithner said Wednesday. "We would like to pass all of them, alongside trade adjustment assistance, and we want to do it this year," Geithner told a Senate Finance Committee hearing. "They're overwhelmingly i
Feb. 17, 2011
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New recruits build bonds at company boot camps
New workers learn teamwork and living as part of the firm at induction programsLike many who join large companies in South Korea, Cho Duk-hyun’s career at Daeyang Shipping began with a two-month induction program.While such programs are often associated with tight schedules that begin at the crack of dawn and continue late into the night, and sometimes include activities with little relation to wo
IndustryFeb. 16, 2011
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Korea to develop key bullet train components
Korea will seek to acquire technology for indigenously manufacturing electric car line systems used to provide power to its bullet trains, the government said Wednesday.The Ministry of Land, Transport and Maritime Affairs said work to develop special metal components and nuts that can permit 25,000 volts of electricity to flow constantly from overhanging wires to a fast moving train should be deve
IndustryFeb. 16, 2011
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Samsung updates bada mobile platform
BARCELONA (Yonhap News) ― Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Wednesday that it has released the updated version of bada, the company’s proprietary mobile operating system.Samsung added a multitasking feature and mobile payment technology called Near Field Communication and voice recognition functions to the second generation of its mobile software, bad
TechnologyFeb. 16, 2011
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GM Daewoo unveils all-new Chevrolet Aveo
GM Daewoo Auto & Technology, the Korean unit of U.S. carmaker General Motors Co., on Wednesday revealed its new small passenger car, the Chevrolet Aveo, in Korea.“The all-new Chevrolet Aveo is a fun to drive car with a confident attitude and a big heart,” said Mike Arcamone, president GM Daewoo.“Its bold exterior styling exudes attitude while its big heart is readily apparent with the most spaciou
IndustryFeb. 16, 2011
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LGE reveals next generation 3-D TVs
LG Electronics on Wednesday unveiled its first 3-D television using film-type patterned retarder panels that it claimed have effectively eliminated problems with the current 3-D technology. The Seoul-based electronics firm said in a press conference that the current shutter glass panels have serious limitations such as flickering and cross talk ― blurry ghosting images ― that viewers have persiste
IndustryFeb. 16, 2011
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Hyundai Heavy honored for excellent designs
Hyundai Heavy Industries won awards at the 2011 Design Award of the Federal Republic of Germany, the world’s largest shipbuilding firm said Wednesday.The winning products were two types of HiMSEN medium speed marine diesel engine and ship monitoring system ACONIS-DS (advanced control & integration system), the firm said.The HiMSEN engine is an environmentally friendly model which boasts higher out
IndustryFeb. 16, 2011
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Samsung, LG bet on solar energy devices
The country’s top electronics makers are attempting to make big investments in solar energy projects, designating them as a new future growth engine.At the EXPO Solar 2011 at the KINTEX in Gyeonggi Province on Tuesday, local electronics giants Samsung and LG Electronics both featured advanced solar modules which they claim are “highly efficient.”The event takes place as major firms have pledged ea
IndustryFeb. 16, 2011
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Unemployment rate drops to 3.8% in Jan.
Korea’s jobless rate fell in January from a year earlier as the non-farm private sector expanded recruitment amid the economic recovery, a government report showed Wednesday.The jobless rate was 3.8 percent last month, down from 5 percent from a year earlier, according to the report by Statistics Korea. But it was up from the previous month’s 3.5 percent.The number of working people stood at 23.19
Feb. 16, 2011
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Hana Financial CEO, Hana Bank cautioned
The Financial Supervisory Service reprimanded Hana Financial Group president & CEO Kim Jong-yeol and the group’s banking unit for irregularities on Wednesday.The regulator said it issued a “caution” against Kim, who had served for Hana Bank as CEO, for being careless about the bank’s investment in U.S. stocks and bonds in 2008. Kim Jong-yeolSeveral staffers of the bank were also subject to regulat
Feb. 16, 2011
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KRX to lose derivatives trading leadership
The planned merger of Deutsche Boerse AG and NYSE Euronext is to likely to deprive the Korea Exchange of the status as the world’s most actively traded derivative market. The KRX, the world’s No. 1 derivative market, took up 15.9 percent of the trade volume worldwide with about 1.78 billion transactions in the first half of 2010, the Futures Industry Association said. The German-U.S. bourse allian
Feb. 16, 2011
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Daewoo, Samsung cement top posts in securities market
Daewoo Securities and Samsung Securities increased their dominance in the domestic market with sharp rises in profits last year.Operating profits of the Samsung Securities and Daewoo Securities in the three last quarters of 2010 made 37.63 percent of total raised in the industry, the Korea Exchange said Wednesday.Daewoo topped the list by raising an operating profit of 269.5 billion won followed b
Feb. 16, 2011
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Mirae Asset seeks overseas employees, acquisitions
Mirae Asset Global Investments Co., Korea’s second-largest money manager, plans to boost the number of overseas employees by as much as 30 percent this year and acquire companies to strengthen coverage of emerging markets. Foreign hires in 2011 will mostly be fund managers, analysts and marketing personnel, chief executive officer Koo Jae-sang said in an interview, declining to say where the emplo
Feb. 16, 2011
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Kaspersky tips Android to dominate mobile
BARCELONA (AFP) ― Computer security expert Eugene Kaspersky predicted on Tuesday that Google’s Android smartphone operating system will come to dominate the market, reducing Apple and BlackBerry to niche players.Kaspersky, who founded the leading anti-virus firm Kaspersky Lab, said there is only “one company, one operating system which follows Microsoft’s strategy of the 1990s” when its Windows co
IndustryFeb. 16, 2011
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Dell quarterly net income more than doubles
SEATTLE (AP) ― Personal computer maker Dell Inc. said Tuesday its net income more than doubled in the most recent quarter to handily beat expectations, as businesses spent more on computers, servers and other technology.Dell also issued annual revenue guidance for the current fiscal year that beat Wall Street’s forecast. The results sent Dell’s shares soaring in extended trading after the report w
IndustryFeb. 16, 2011
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Buffett to visit Korea in March
Warren Buffett will visit South Korea in March to attend the groundbreaking ceremony for TaeguTec Ltd.’s second plant, which will double its production capacity.According to TaeguTec, a Daegu-based firm that specializes in producing tungsten and industrial cutting tools, Buffett will visit the company for the ceremony on March 21. Warren Buffett. BloombergAs he did during his first visit to Korea
IndustryFeb. 16, 2011
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Apple unveils iPhone, iPad subscription policy
A Verizon Wireless employee helps a new iPhone user in New York, Thursday, Feb. 10, 2011. (AP-Yonhap News)NEW YORK (AP) _ Apple Inc. announced a subscription system for buying newspapers and magazines on iPhone and iPad applications on Tuesday, making it easier for publishers to mine the popular mobile devices for more revenue.The update announced Tuesday enables publishers to sell subscriptions b
TechnologyFeb. 16, 2011
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Incheon Airport named world’s best for 6th year
Incheon Airport was selected the Best Airport Worldwide for the sixth consecutive year. (Yonhap News)Incheon International Airport was selected the Best Airport Worldwide in Airport Service Quality in 2010 for the sixth consecutive year, beating rivals Changyi Airport of Singapore and Hong Kong International Airport, The Ministry of Land, Transport and Maritime Affairs said Tuesday. It is the firs
IndustryFeb. 16, 2011
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Creditors to extend deadline for Daewoo Electronics sale
Creditors of Daewoo Electronics Corp. have decided to give two more months to Entekhab Industrial Group to help the Iranian electronics firm finance a deal to buy South Korea's third-largest electronics company, sources said Wednesday. Last November, state-run debt clearer Korea Asset Management Corp. (KAMCO) and other creditors sealed a deal to sell a combined97.5 percent stake in Daewoo Elec
IndustryFeb. 16, 2011