Most Popular
-
1
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
2
Debate rages over ‘overly fatty’ samgyeopsal
-
3
[Weekender] Korean psyche untangled: Musok
-
4
40 flights canceled on Jeju Island due to bad weather
-
5
[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
-
6
From fake prostitution ring to nonexistent robber, prank calls hamper police
-
7
Top prosecutor orders speedy investigation into first lady's alleged acceptance of luxury handbag
-
8
Missing S. Korean traveler in Paris found safe after 2 weeks
-
9
Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
-
10
S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
-
Trade pact to give Korean drinkers more choices for less
European distilleries and wineries set out to aggressively tap the local market as a free trade agreement with Korea began scrapping tariffs on alcoholic beverages.Although the markets for wine and whisky have been booming in recent years here, heavy duties on imported bottles have limited choices of local drinkers. Under the deal, 15 percent tariffs on wine were removed on July 1, the first day o
July 13, 2011
-
N.Y. college Incheon campus OK’d
SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i
July 13, 2011
-
SK Innovation given green light to sell Brazil venture
The Brazilian government approved the sale of SK Innovation’s Brazilian subsidiary to Denmark’s Maersk Oil, the Korean refiner announced Wednesday.The deal, which the company plans to close within one month, was first signed with the Danish firm in December and will see SK Innovation handing over its Brazilian subsidiary, SK do Brasil, to Maersk Oil for $2.4 billion.SK do Brasil was established in
July 13, 2011
-
OPEC sees slower growth in 2012 oil demand
July 13, 2011
-
China’s economic growth slows to 9.5%
China’s economy grew at a slower pace last quarter, a moderation that may ease inflation pressures in the world’s second-biggest economy. Gross domestic product expanded 9.5 percent from a year earlier, the statistics bureau said in Beijing Wednesday, after a 9.7 percent gain in the first quarter. That compared with the median 9.3 percent estimate in a Bloomberg News survey of 18 economists. Indus
July 13, 2011
-
IMF urges Italy to take ‘decisive’ action on deficit
WASHINGTON (AFP) ― The International Monetary Fund urged Rome to be decisive on cutting its deficit Tuesday as investors dumped Italian bonds and the country’s leaders rushed to pass a massive austerity plan.Amid worries that Italy could follow Greece and Portugal into a financial maelstrom and require a bailout, the IMF praised Italy’s reform program that has already cut its current deficit to 4.
July 13, 2011
-
Chinese secure first top post at IMF
July 13, 2011
-
Korea unveils action plans to cut emissions
Government aims to slash transportation emissions to 34 percent below projected levelsKorea outlined action plans to tackle climate change on Tuesday, breaking down reduction targets for high-emitting sectors in the medium term.The pan-governmental plan was devised to put the country’s low-carbon, green growth initiatives in motion, which President Lee Myung-bak launched in 2009 with a goal of cut
July 12, 2011
-
Samsung to unveil report on alleged leukemia link
Samsung Electronics on Thursday will unveil the results of a reexamination conducted by a U.S.-based consultancy on a recent court ruling that regarded leukemia as an industrial accident that occurred at a Samsung factory. Environ, a consultancy specializing in environmental and health issues, will be introducing the results of the review at Samsung’s Giheung semiconductor plant and respond to que
July 12, 2011
-
CEVA Logistics sees Korea as its fastest growing market
CEO says ‘Intelligent companies’ will pay attention to logistics industryJohn Pattullo, CEO of CEVA Logistics, described his company a “truly international combination.”“Our head office is registered in the U.K., while the company is owned by an American private equity. And the name is Italian,” the Scotsman told The Korea Herald.CEVA Logistics was established in August 2007, from the merger of TN
July 12, 2011
-
Business boost as shoppers try to beat wet, hot weather
Businesses are enjoying increased demand for rainy-season items such as rubber boots, umbrellas and dehumidifiers, since the nation entered the seasonal rainy spell last month. Over the past month, E-Mart, South Korea’s largest retailer, saw a surge in sales of umbrellas and rubber boots of 125 percent and 107 percent, respectively. Customers pick out dehumidifying agents and deodorants at a supe
July 12, 2011
-
Hyundai-Kia 4th-largest global carmaker in 2010
Korea’s Hyundai Motor Co. and its sister company Kia Motors Corp. emerged as the world’s fourth-largest carmaker in 2010 on solid sales in the United States and China, a Japanese market researcher said Tuesday.Their combined output just surpassed 6.60 million units last year, up 23.6 percent from 5.34 million cars a year earlier, according to Fourin Inc. Hyundai and Kia are the flagship companies
July 12, 2011
-
Games firms hoarding ammo for legal fights
Companies strengthen legal teams to better cope with spiraling number of lawsuitsLocal gaming companies ― many of them operators of globally best-selling games ― are gearing up to better defend themselves at court in the face of mounting legal squabbles. On Monday, NCsoft, one of the nation’s top online gaming companies and creator of some of the industry’s hottest games such as Lineage and Guild
July 12, 2011
-
S. Korea not bidding for Brazil's bullet train project
South Korea did not submit a bid for a multi-billion dollar high-speed rail project in Brazil, sources said Sunday, on concerns about its low profitability.A South Korean consortium did not submit a preliminary bid for the auction for building a 511-kilometer train network between Sao Paulo and Rio de Janeiro, officials said. The deadline for the bid submission closes on Tuesday.The consortium, le
July 12, 2011
-
CJ to pay 1.85 tln won for Korea Express
A consortium led by CJ Group, a South Korean food and entertainment conglomerate, said Monday that it has signed a contract to purchase a controlling 37.62 percent stake in Korea Express for 1.85 trillion won (US$1.75 billion).CJ Cheiljedang Corp. and CJ GLS Inc. will each pay 922.5 billion won to take over South Korea's largest logistics firm from two subsidiaries of cash-strapped Kumho Asiana Gr
July 11, 2011
-
Auto exports hit new high in first half
Exports of Korean cars reached a record high in the first half of the year, benefiting from the demand drop for Japanese vehicles along with improving consumer sentiment abroad, data said Monday.A report by the Korea Customs Service said Asia’s fourth-largest economy exported $19.1 billion worth of cars in the January-June period, bagging 30.4 percent more revenue than a year earlier. In terms of
July 11, 2011
-
Global pension fund chiefs discuss investment in Seoul
Big players in global pension funds have gathered in Seoul to discuss future investment plans at the International Pension Conference, which opened here on Monday. Some 40 heads of 37 public and private pension agencies worldwide have been invited to the three-day event. The asset value of participating pension funds totaled at 3,620 trillion won ($3.4 trillion).One of the participants is Takahiro
July 11, 2011
-
SKT, STX shares slide on Hynix bid
With little effect expected from acquisition of Hynix Semiconductor, SK Telecom shares fell to the lowest this year on Monday.On Friday, SK Telecom and STX Group submitted letters of intent to acquire the world’s second-largest chip maker Hynix. The 15 percent stake in the chipmaker is expected to fetch around 2.5 trillion won ($2.4 billion). Hynix closed at 26,450 won, down 0.56 percent from Frid
July 11, 2011
-
Lee welcomed as victorious Olympian
Samsung Electronics chairman Lee Kun-hee (center) on Monday poses with a bouquet presented by Samsung employees who welcomed him back to work after his trip to South Africa. (Lee Sang-sub/The Korea Herald)Samsung Group owner Lee Kun-hee on Monday was greeted with a warm welcome from Samsung employees for his role in helping PyeongChang City win the bid to host the 2018 Winter Olympics.Around 500 e
July 11, 2011
-
KT&G market share nears 60%
KT&G Corp. said Monday that its share in the local market has risen for the second quarter in a row to nearly 60 percent, thanks to robust sales of its new products and price hikes by rival tobacco firms. Korea’s top cigarette manufacturer said its 55.7 percent stake in the fourth quarter last year climbed to 58 percent in the first quarter this year, then to 59.8 percent in the second quarter. It
July 11, 2011