Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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GM introduces new name, brand for S. Korean unit
Dan Akerson, Chief Executive of General Motors Co. (GM), unveils the Chevrolet Sonic at the 2011 North America International Auto Show (NAIAS) in Detroit, the United States, on Jan. 10, 2011. (Xinhua-Yonhap News)U.S.-based global automaker General Motors Co. (GM) on Thursday introduced a new name for its South Korean unit and brought internationally renowned brand Chevrolet to boost the company's
IndustryJan. 20, 2011
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Deutsche Bank faces fraud probe
The Financial Supervisory Service plans to ask the prosecution to investigate Deutsche Bank AG and several individual investors for allegedly engaging in fraudulent stock trading, sources told The Korea Herald on Wednesday.The financial regulator has completed its investigation into the Germany-based investment bank’s brokerage unit in Hong Kong. It plans to refer the case to the prosecution in th
Jan. 20, 2011
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Deutsche Bank faces fraud probe
FSS to demand criminal probe on stock tradingThe Financial Supervisory Service plans to ask the prosecution to investigate Deutsche Bank AG and several individual investors for allegedly engaging in fraudulent stock trading, sources told The Korea Herald on Wednesday.The financial regulator has completed its investigation into the Germany-based investment bank’s brokerage unit in Hong Kong. It pla
Jan. 19, 2011
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Boeing interested in KAI going public in June
A top executive of Boeing Korea said Wednesday the global aircraft builder is planning to make a second bid to provide the presidential airplane after its failure last year. “Providing presidential airplane is very important to Boeing,” Pat Gaines, president of Boeing Korea, told reporters during a press conference in downtown Seoul. Pat Gaines, president of Boeing KoreaThe statement comes as Boe
IndustryJan. 19, 2011
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Twitter introduces new services for Koreans
Twitter Inc. introduced two new services for Koreans on Wednesday, seeking to gain greater influence in a nation with an advanced communications infrastructure and one of the most active Internet populations.In a press conference in Seoul, Twitter co-founder Evan Williams said Twitter has opened its website in the Korean language Wednesday.Twitter has also formed partnerships with local companies
IndustryJan. 19, 2011
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Korea Exchange lags in global networking
Growing regional integration poses challenge to Korean bourse: analystsDespite its much-touted efforts at globalization, the Korea Exchange risks lagging behind its Asian rivals in the trend toward a regional networking and consolidation, analysts said.The number of listed firms and the scale of share turnover ― the two most important factors in attracting investors ― may be clogged up for the Seo
Jan. 19, 2011
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Hyundai Heavy wins W1.14tr drillship contract
Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to build two drillships for 1.14 trillion won ($1.03 billion) for the U.S.-based contract driller for gas Noble Drilling.Drillships are specialized vessels fitted with drilling equipment used in gas and oil exploration in offshore locations. With the latest contract, Hyundai Heavy has been awarded all three contracts for dr
IndustryJan. 19, 2011
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Abu Dhabi aims to be alternative energy hub
UAE says green city to be built by 2025ABU DHABI ― Officials from the United Arab Emirates’ capital outlined their plans to promote the use of clean energy at the 4th World Future Energy Summit Tuesday.The country which produces 8 percent of the world’s crude oil supply is working on establishing a green urban area named Masdar City by 2025. Masdar means “source” in Arabic. The venue, which is bei
Jan. 19, 2011
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Hyundai Heavy rehires retirees to stem skills shortage
Korean firms strive to tackle shortages of trained workers due to demographic changeA rapidly aging population poses a grave challenge to Korean manufacturers, which have seen a large number of skilled workers retire. Hyundai Heavy Industries, the world’s largest shipyard, is suffering most from the trend. A record number of 950 reached retirement age last year. The numbers are estimated to be 800
IndustryJan. 19, 2011
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Volcker rule should be ‘robust’: Oversight Council
Top U.S. financial regulator issues recommendations to implement controls on banksRegulators should carry out a “robust implementation” of the Volcker rule by forcing banks to wind down or sell trading desks that don’t comply with the law, the U.S. Financial Stability Oversight Council said.Government agencies should require banks to perform “quantitative analysis to detect potentially impermissib
Jan. 19, 2011
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LG Uplus officially begins ...mobile office support for SMEs
LG Uplus, the country’s smallest mobile carrier, said Tuesday that it will officially begin providing mobile office support for small and mid-sized firms.In a joint effort with Microsoft, the company will use the global firm’s software platforms and cloud services like Software as a Service in a bid to jump into the local mobile office market.This comes after LG Uplus and Microsoft formed a strate
IndustryJan. 19, 2011
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Korea scrambles to cut electricity use
Consumption soars to record amid deep chill, fueling power shortage concernsThe government is introducing a series of contingency measures to cut power consumption as the cold spell drives up electricity demand to record levels.With the cold snap gripping the nation, even in the warmer southern regions, electricity demand has shot up, setting new records three times already this month.On Monday, t
IndustryJan. 19, 2011
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Whistleblower hands WikiLeaks offshore bank secrets
LONDON (AFP) ― WikiLeaks founder Julian Assange vowed to publish secret details of offshore accounts after a Swiss banking whistleblower handed over data Monday on 2,000 purportedly tax-dodging individuals and firms.Former Swiss banker Rudolf Elmer, who worked for eight years in the Cayman Islands, a renowned offshore tax haven in the Caribbean, personally gave Assange two CDs of data at a London
IndustryJan. 18, 2011
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Robotic helpers coming to homes, offices
Service robotics emerges as the next technology frontier with advancing skills, surging demandThese days, visitors to the presidential office in Seoul are getting a taste of the future. At Sarangchae, a museum affiliated with Cheong Wa Dae, a kiosk-shaped robot greets guests with a heartwarming smile. Named Tiro, the machine introduces Korea’s culture and gives directions and answers in four diffe
IndustryJan. 18, 2011
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POSCO gets approval for new plant
Stalled works on POSCO’s new plant at Pohang Steelworks are set to resume, with the Prime Minister’s Office deciding to ease regulations that had brought the works to a halt in July.The Pohang municipal government had approved plans for the plant without consulting military bases in the area about height restrictions on buildings in the area due to military flights.The steelmaker was informed of t
IndustryJan. 18, 2011
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Fine may force LG Display into loss in 4th quarter
LG Display may record a loss in its latest fourth-quarter earnings as it is likely to include a large fine imposed by the European Commission for fixing liquid crystal display prices in its report, industry insiders said Tuesday.The world’s second-largest maker of liquid crystal display panels must pay 215 million euros ($285 million) for being part of a cartel with five other firms between 2001 a
IndustryJan. 18, 2011
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Hana Financial in alliance with Chinese bank
China Merchant Bank expected to boost Korean group’s expansionHana Financial Group has established a strategic partnership with China Merchant Bank, the country’s sixth-largest lender, beefing up ammunition for its planned portfolio diversification and expansion of China operations. The Korean financial group said Tuesday that the agreement will involve cooperation on a range of joint financial se
Jan. 18, 2011
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Kookmin Bank pushes for aggressive downsizing
Kookmin Bank is accelerating its major manpower restructuring, transferring 219 underperforming employees to an extra department designed for retraining.A certain portion of them will likely face dismissal or be pressured to quit if they fail to reach a certain level of performance within about two years, an official of the nation’s largest bank said Tuesday.The employees at the department are obl
Jan. 18, 2011
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Gangwon shares affordable housing know-how with Vietnam
Gangwon Province is hosting a team of Vietnamese government officials on a week-long trip here to study Korea’s housing policies for low-income earners.The program, requested by Vietnam’s Ministry of Construction, is co-organized by the International Urban Training Center, a state-run training center for policymakers in Gangwon Province and the United Nations Human Settlements Programme in Vietnam
Jan. 18, 2011
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Ban calls for global clean energy revolution
U.N. secretary-general also addresses climate, poverty and healthABU DHABI ― Global innovation in clean energy is essential to fight climate change, United Nations Secretary-General Ban Ki-moon said Monday at the 2011 World Future Energy Summit. “The prevailing fossil fuel-economy is contributing to climate change and global energy needs are growing rapidly,” he said during his keynote speech at t
Jan. 18, 2011