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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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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On May Day, labor unions blast Yoon's foreign nanny proposal
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Baek named new head of Jaguar Land Rover Korea
Jaguar Land Rover Korea has appointed Baek Jung-hyun as its new managing director, the company said Wednesday.Baek has been working as the acting managing director since December, and will oversee marketing, service and sales of all Jaguar and Land Rover vehicles in Korea. Baek Jung-hyun“Baek is responsible for the company’s high performance and has the right management qualities to lead its sustainable growth,” the company said in a press release. Jaguar Land Rover sold 6,664 units in 2014 and
MobilityApril 22, 2015
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Government mulls stricter e-cigarette regulations
The government is pushing for stricter legal restrictions on the sale of electronic cigarettes, which is officially classified as a cigarette product, the Finance Ministry said Wednesday. Finance Minister Choi Kyung-hwan, who concurrently serves as deputy prime minister, told lawmakers in the National Assembly that he would “shortly come up with a comprehensive proposal” on electronic cigarettes, which would ban the products’ explicit advertisement and random blend of nicotine. Choi stressed tha
April 22, 2015
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Shinhan Financial profit grows despite record-low interest rates
Shinhan Financial Group reported robust quarterly earnings despite low interest rates, boosted by of a recovery in earnings in its nonbanking units including brokerage, credit card and life insurance.The financial group said Wednesday that it reaped 592.1 billion won ($548.2 million) in net profit during the first quarter, up 6 percent from 558.4 billion won during the same period last year. The figure was an 89.1 percent surge compared to the previous quarter.A group spokesperson cited the “div
April 22, 2015
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Emoticons more effective than words
What do hot K-pop stars, such as TVXQ, EXO and Girl’s Day, and superheroes of the upcoming Hollywood film “Avengers: the Age of Ultron” have in common? They have all been made into mobile emoticons on South Korea’s most-used mobile messenger KakaoTalk, run by Internet giant Daum Kakao.The emoticon ― a combination of emotion and icon ― started out as creative combinations of numbers, letters and punctuation marks, but have evolved into today’s animated characters moving around a mobile chat room
TechnologyApril 22, 2015
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[Herald Interview] Navigation app Kimgisa goes global
The hot-selling navigation app Kimgisa is going global with its Japanese launch planned for May. Industry watchers are paying keen attention to what will be the first export of Korea-made navigation software. Korea is an advanced market for mobile-based navigation apps. Locally developed software is more favored, while global services like Google Maps struggle to gain a footing. But even for Korean developers, going global is another issue considering localization is the key to success. “Most co
TechnologyApril 22, 2015
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LG Chem, Eguana partner for home energy storage
LG Chem said Wednesday it has inked a partnership deal with Canadian-based power conversion system developer Eguana Technologies as part of its strategy to expand its presence in the growing North American energy storage market. The Korean battery maker said the two companies will develop energy storage systems for homes, with an aim to launch the first system in the latter half of this year in the United States and Canada. The system, combining LG Chem’s lithium-ion batteries and Eguana’s power
TechnologyApril 22, 2015
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LG Display posts record sales in Q1
South Korea’s leading display panel maker LG Display posted an operating income of 734.9 billion won in the first quarter of 2015, a near eightfold increase from a year earlier and the highest level in three years, according to the company’s regulatory filing Wednesday.The company also said its quarterly sales hit a record high of 7.02 trillion won ($6.5 billion) thanks to robust sales of liquid crystal display panels for TVs and handsets.The company explained that the higher-than-expected earni
TechnologyApril 22, 2015
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AIMS International appoints new Korea chief
AIMS International, a global search firm, has appointed David Lee as the new managing director of its Korean unit, the company said Wednesday.David Lee is a former senior consultant at Solution, and has had experience in sales in other companies such as Baskin Robbins, Christian Dior Cosmetic and LMVH P&C. David Lee. (AIMS International Korea)AIMS International is one of the top 10 search firms, with more than 350 consultants in over 90 offices across 50 countries. AIMS consultants across the wo
IndustryApril 22, 2015
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Seoul shares down 0.04 pct on AmorePacific stock split
South Korean stocks ended nearly flat on Wednesday as investors sat on the sidelines following the stock split of No. 1 cosmetics maker AmorePacific, analysts said.The South Korean won gained ground against the U.S dollar.The benchmark Korea Composite Stock Price Index slipped 0.9 point to 2,143.89 after hitting an intra-day high of 2,161.23, the highest mark in nearly four years. Trading volume was high at760.64 million shares worth 8.44 trillion won ($7.81 billion), with decliners beating gain
April 22, 2015
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SME loan growth hits seven-year high in Q1
The amount of loans extended by South Korean banks to small and medium enterprises (SMEs) increased at the fastest clip in seven years in the first quarter on a government push to expand policy loans to spur growth, data showed Wednesday.Outstanding loans extended to smaller firms reached 522.2 trillion won ($482 billion) as of the end of March, rising 15.4 trillion won from the end of last year, according to the data by the Bank of Korea. The on-quarter gain marks the biggest increase since a 1
April 22, 2015
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LG to release big-screen budget phone this week
LG Electronics Inc., South Korea's No. 2 smartphone maker, said Wednesday it will roll out its latest budget smartphone that comes with a larger display than its flagship models, as part of a bid to target global consumers who favor a big screen in the mid- to low-end market. The G Stylo will hit local shelves on Friday, and be gradually released in the Latin American region and others starting in May, the company said in a statement. LG did not disclose its exact price, only to hint that it wil
TechnologyApril 22, 2015
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Galaxy S6 smartphones suffer weaker than expected sales in S. Korea
Samsung Electronics Co.'s newest high-end smartphones - the Galaxy S6 and the Galaxy S6 Edge -- are seen drawing less than expected attention from consumers, industry data showed Wednesday, casting clouds over the market's upbeat sales estimate of over 50 million units for 2015.South Korea's No. 1 tech giant had sold a little over 200,000 units of the two smartphones here as of Sunday since their launch on April 10, sharply falling short of the 300,000 preorders, according to the data, indicatin
TechnologyApril 22, 2015
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S. Korea aims to bolster ICT security business
South Korea plans to spend big on expanding the local information security industry as part of efforts to beef up capability against potential cyber crimes, the government said Wednesday. The plan comes amid corporate reluctance to make big investments in boosting their online security, though the country has suffered a slew of hackings into banks and other agencies, as well as leaks of personal information, in recent years.In a report to a meeting of economy-related ministers, the Ministry of S
TechnologyApril 22, 2015
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S. Korean firms go after stock splits
More South Korean firms, under growing pressure from investors and the bourse operator, are joining a move to split stocks, thus making their shares easier to buy and their share prices more attractive to investors, data showed on Wednesday.Fourteen companies have announced plans for stock splits or have been preparing for such a move in the first half of this year, sharply up from four in the same period one year ago, the Korea Exchange, main bourse operator, said.Leading the move is AmorePacif
April 22, 2015
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SK hynix becomes No. 4 chipmaker in 2014
South Korean chipmaker SK hynix Inc. saw its global ranking move up a notch to become the world's fourth-largest player in the segment in 2014, data showed Wednesday.SK hynix saw its revenue reach US$16.1 billion last year, outpacing Micron Technology by $3 million, the data compiled by IHS Technology showed, narrowing its gap with its three bigger rivals: Intel Corp., Samsung Electronics Co. and Qualcomm Inc.Intel took the top spot with sales of $49.9 billion, followed by Samsung Electronics wi
TechnologyApril 22, 2015
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Hanwha makes progress in solar biz
Hanwha Q Cells, a solar panel unit of Hanwha Group, has signed a 1 trillion won ($923.7 million) deal with Florida-based light company NextEra Energy to supply 1.5 gigawatts of solar panels, a record for a single contract in the domestic industry.The company will supply solar modules to NexEra’s solar plants under construction from the fourth quarter through the same period next year, the company said in a statement Monday. NextEra currently aims to build solar power plants with a capacity of 1.
IndustryApril 21, 2015
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[SUPER RICH] Differing attitudes of two Chinese philanthropists
There are philanthropists who donate their wealth and wisdom with sincerity, and those who use it more as a huge marketing tool for their image. Two philanthropists in China are the perfect examples of both types of superrich.Aw Boon HawAw Boon HawAw Boon Haw (1882-1954) was an ethnic Chinese entrepreneur from Myanmar best known for introducing Tiger Balm, which his herbalist father first created.Aw moved across Asia expanding his Tiger Balm business along with his brother, and also founded 15 n
IndustryApril 21, 2015
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[SUPER RICH] Friendship sustains Samchully through generations
The Fair Trade Commission’s annual announcement of business enterprises restricted of cross-ownership is both an honor and a bother for businessmen. Yoked on businesses with more than 5 trillion won ($4.8 billion) in assets, the designation is perceived as a restriction on their operations because it bans additional cross-shareholding and affiliates from guaranteeing debt among themselves, while prohibiting the company’s exercise of legitimate voting rights. Still, it is an acknowledgement of go
IndustryApril 21, 2015
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Service-centered IoT to become mainstream: LG CNS chief
Kim Dae-hoon, chief executive of ICT solutions developer LG CNS, said the company seeks to lead in the era of Internet of Things with its service-oriented technologies.IoT is a term that describes a connected network of objects. He urged businesses to respond swiftly to the fast changing business environment in this era of connected products. LG CNS CEO Kim Dae-hoon speaks at the 15th Entrue World 2015 in Seoul on Tuesday. (LG CNS)“LG CNS has capabilities in developing IoT platforms and systems
TechnologyApril 21, 2015
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Mohegan Sun eyes casino in Incheon
INCHEON ― Mohegan Sun, a casino and entertainment complex operator based in Uncasville, Connecticut, signed a memorandum of understanding with the Incheon International Airport Corp. on Tuesday for a resort development project on Yeongjongdo Island, Incheon, which is also home to the airport.Under the MOU, the company will invest in a two-phase development project in IIAC’s International Business Center II area, the airport operator said in a press release. The project, which will be completed b
IndustryApril 21, 2015