Most Popular
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Seoul vows action over Naver's Line, Yahoo dispute
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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[Grace Kao] American racism against Stray Kids
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Samsung doubles down on Vietnam
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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NewJeans' members' parents complained to Hybe, email shows
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Suspect behind murder of Korean tourist in Pattaya arrested
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Prosecutors summon pastor involved in Dior bag scandal
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Chaebol scions climb toward top management
Grandsons and great grandsons of chaebol founders are awaiting promotion in upcoming regular management reshuffles. GS Group chairman Huh Chang-soo’s only son Yoon-hong, general manager at GS Engineering and Construction, is set to be promoted to executive-level Wednesday, company officials said Tuesday. Thirty-two-year-old Huh Yoon-hong joined GS Caltex in 2002 and moved to GS E&C three years later. He currently heads the company’s financial affairs team and will do the same job after promotion
Dec. 6, 2011
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Hyundai Oilbank donates to families of fallen firemen
Hyundai Oilbank said it will offer money from a fund raised by its employees to the families of two firefighters and a police officer who were killed on duty last weekend. Lee Jae-man and Han Sang-yoon of the Songtan firefighting squad in Pyeongtaek, Gyeonggi Province, were killed in a fire at a furniture exhibition hall on Saturday. Bae Geun-sung, assistant inspector at the police station in Hwacheon, Gangwon Province, died Sunday while trying to save a person who was electrocuted after his car
Dec. 6, 2011
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LG Electronics launches donation campaign
LG Electronics said Tuesday it launched a yearend gift donation campaign this month with the World Food Program for the underprivileged in Ethiopia.Dubbed the “Matching gift campaign,” the company is encouraging people to make donations to people affected by natural disasters such as drought in Ethiopia. The company then plans to match the donations.“This is one of our newest social contribution efforts,” said an LG Electronics official. “The firm plans to offer up to 500 million won ($441,345)
Dec. 6, 2011
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Samsung inks new biopharmaceutical tie-up
Group’s Biologics unit signs agreement with Biogen Idec to develop biosimilarsSamsung Group announced Tuesday that its affiliate Samsung Biologics signed an agreement with U.S.-based Biogen Idec to set up a biosimilar joint venture by March.With plans to build the biosimilar research and development center in Songdo, Incheon, next year, the two firms have agreed to invest $300 million for the joint venture. The joint venture has already hired 100 employees who will work at the new R&D center and
Dec. 6, 2011
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Pantech CEO offers to resign
Pantech CEO and vice chairman Park Byeong-yeop said Tuesday that he will resign from the top post by the end of this year, citing health issues. “I’ll step down from Pantech management on Dec. 31,” he said in an urgent press conference at the company’s headquarters in northern Seoul. “Over the past five years since the company came under a debt management program, I have worked without holidays and can no longer bear the chronic fatigue.” Pantech and its affiliate have been under a debt reschedu
Dec. 6, 2011
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Samsung begins full operation of Austin plant
Samsung Electronics Co., the world’s second-biggest semiconductor maker, said Tuesday it has begun full production at its new Austin semiconductor plant earlier than planned, at a time when demand for smartphones and tablet PCs is booming. The company’s new plant in Austin, Texas, reached its target capacity of 40,000 wafers per month in October, a month prior to its initial target, Samsung said in a statement. Samsung produced the first silicon wafer in May on the S2 line in Austin, an automate
Dec. 6, 2011
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Australian water experts look to take page from Korea
A group of young Australian experts in water resources management said they could take a page from Korea’s book to tackle water crises in their country during a visit to Seoul on Sunday.Ten public officials, academics and private experts from Australia are participating in the Next Generation Leaders program hosted by the Australia-Korea Foundation. The two countries set a theme and exchange a team of young professionals over two years to help them develop leadership in the field.This year, the
Dec. 5, 2011
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Bibigo aims to be McDonald’s of bibimbap
CJ’s strategy chief stresses ‘motherly leadership’ at creative companyCJ Group, a local food giant, launched the bibimbap restaurant chain Bibigo in May 2010, targeting global customers from the beginning.Noh Hee-young, a celebrated tastemaker and the strategist behind the brand, believes this will be different from other numerous failed attempts to globalize Korean cuisine.“I have no doubt that Bibigo will become a global brand like McDonald’s within a few years,” the executive director of CJ’s
Dec. 5, 2011
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Korean LED lamps to be installed in Vancouver
Korean-made light-emitting diode lamps will illuminate Vancouver next year, as the Canadian city seeks street lights that are brighter and more durable, as well as energy-efficient, officials said Monday.Yuyang DNU, a Korean LED producer, will supply 20 units of 50-watt and 80-watt lights without charge to Vancouver and nearby Langley in southwestern Canada for a test operation, according to the Korea Trade-Investment Promotion Agency. The deal is to be signed Wednesday.The two cities plan to in
Dec. 5, 2011
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Samsung denies collecting Galaxy owners’ data
Samsung Electronics on Monday denied privacy invasion claims after local media reported mobile applications uploaded on the Galaxy S were capable of collecting personal data.“Samsung Electronics doesn’t gather or use our smartphone users’ personal data. We also confirm that all mobile apps provided by Samsung aren’t equipped with the function or code that’s capable of data collection,” the company said in a statement.“The fact that it showed the apps could sneak into our customers’ information w
Dec. 5, 2011
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Web economy overtakes automotive sector: report
Korea’s Internet industry has surpassed automotives and electric and electronic manufacturing in size, an industry report found Monday. According to the Korea Internet Corporations Association, the Internet economy amounted to 63 trillion won ($55 billion), or 5.94 percent of the gross domestic product, in 2009.The GDP figure puts the industry ahead of electric and electronic equipment manufacturing and automobiles at 5.71 percent and 4.23 percent, respectively, according to the industry lobby r
Dec. 5, 2011
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Australian water experts study Korean experience
A group of young Australian experts in water resources management said they could take a page from Korea’s book to tackle water crises in their country during a visit to Seoul on Sunday.Ten public officials, academics and private experts from Australia are participating in the Next Generation Leaders program hosted by the Australia-Korea Foundation. The two countries set a theme and exchange a team of young professionals over two years to help them develop leadership in the field.This year, the
Dec. 5, 2011
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Samsung gains ground in Apple patent war
Samsung Electronics is gaining momentum in its patent battle with Apple after a U.S. court rejected the iPhone maker’s request for a preliminary injunction against the sale of its mobile devices.The South Korean tech giant scored the legal victory on Friday following a win in its appeal against a sales ban of its tablet PCs in Australia last week. Apple sued Samsung in the U.S. in April, saying Samsung’s Galaxy line of mobile phones and tablets “slavishly” copies its iPhone and iPad.But on Frida
Dec. 4, 2011
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Refiners’ earnings surge on exports
Korea’s four major refiners saw more than 40 percent growth in earnings on average this year as petrochemicals exports spike despite a dim outlook for the global economy.SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank were among few local corporations that enjoyed brisk third-quarter results as persistent global economic uncertainties slacken exports. Large firms’ revenue fell almost 40 percent during the three month period.The four refiners control more than 90 percent of total domestic pet
Dec. 4, 2011
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Booyoung supports education in Sri Lanka, East Timor
Booyoung Group said Sunday it hosted a graduation ceremony for Sri Lankan primary school students last week as part of its social contribution activities.The construction-focused conglomerate said the South Asian country’s education ministry suggested that it hold the ceremony on Dec. 2 in the capital city of Colombo in recognition of its donation of 3,000 digital pianos and 30,000 blackboards last year. Later in the day, Sri Lankan President Mahinda Rajapakse invited the Korean company’s chairm
Dec. 4, 2011
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Yuhan-Kimberly honored with presidential citation
Yuhan-Kimberly, Korea’s leading hygiene products maker, has won a presidential citation for its innovative efforts to protect consumer rights, the company said last week. The company was awarded the top honor in celebration of Consumer Rights Day, which falls on Dec. 3 every year. A joint venture of Korea’s Yuhan Corp. and U.S.-based Kimberly-Clark Corp., the company was established in 1971. Under the leadership of CEO Choe Kyoo-bok, who took office in 2010, the company is also striving to expan
Dec. 4, 2011
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Oh to head KOTRA
Oh Young-ho, executive vice chairman of the Korea International Trade Association, was named the president of the Korea Trade-Investment Promotion Agency.Starting Monday, Oh will succeed Hong Suk-woo who took office as the minister of knowledge economy two weeks ago.Having entered public service in 1980, Oh has served as the chief of the organizing committee of the Seoul G20 Business Summit and first vice minister of commerce, industry and energy, before the Ministry of Knowledge Economy receive
Dec. 2, 2011
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Electricity rates raised by 4.5%
Electricity rates will be raised by 4.5 percent on average starting Monday, with prices of high-voltage power for industrial use going up by 6.6 percent, to induce a reduction in power consumption, the Ministry of Knowledge Economy said Friday.High-voltage, industrial power consumers account for 51.5 percent of the nation’s electricity consumption, followed by households (14.6 percent).Electricity rates for housing and farming will remain unchanged, while the rates for four other categories ― in
Dec. 2, 2011
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Asiana wins another honor as ‘Airline of the Year’
Asiana Airlines was named “Airline of the Year” by a U.S. travel magazine, becoming the first air carrier to win the top award from three different institutions for three years in a row.The Global Traveler named Asiana the “2011 Airline of the Year” and the top airliner in six other categories. Asiana had been named “Airline of the Year” by the industry publication Air Transport World in 2009 and consultancy Skytrax last year. The Global Traveler awarded winners in 68 travel-related categories,
Dec. 2, 2011
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LG Display CEO replaced
LG Chem CEO Kim retained; LG Display’s Kwon moves to Chem’s new battery unitLG Display named Han Sang-beom, head of the company’s television business division, as its new CEO, replacing Kwon Young-soo, in a reshuffle on Friday.Kwon will move to head the new battery project unit at LG Chem, which will focus on work related to secondary batteries, such as small batteries, electric car batteries and those used for energy storage, according to LG officials.Kim Bahn-suk, chief executive and vice chai
Dec. 2, 2011