Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Medical reform committee kicks off despite boycott from doctors
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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SK Telecom, Samsung at war over phone bills
Telecom industry giant and world’s No. 2 phonemaker struggling to shirk blame for high call feesSK Telecom and Samsung Electronics, known for their airtight alliance on phone marketing and sales, are showing signs of a major rift with both parties attempting to shift blame for spiking call fees, according to industry watchers. On the government’s mounting demands on telecom companies to slash the
March 29, 2011
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Korea-EU FTA to be put to assembly for the third time
The Trade Ministry is to again revise the Korean-language version of the Korea-EU free trade agreement, and resubmit the bill for ratification to the National Assembly for the third time.“The government was recently informed that several errors were found while reviewing the Korea-EU FTA’s Korean translation,” Rep. Nam Kyung-pil, National Assembly’s Foreign Affairs, Trade and Unification Committee
March 29, 2011
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Hynix pins high hopes on specialty products
Memory chipmaker looks to growth in non-PC sector including mobile, graphic, server DRAMHynix Semiconductor Inc., the world’s second-largest maker of computer memory chips, looks to new growth opportunities in specialty products in the premium market.The company’s premium product line-up in the non-PC sector, which includes mobile, graphic and server dynamic random access memory (DRAM), is expecte
March 29, 2011
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Firms make preliminary bids for Korea Express
Creditors of Korea Express Co. have accepted preliminary bids from three local conglomerates, including steel giant POSCO, to buy Korea‘s largest logistics firm, sources said Monday. Co-sales managers Nomura Securities and the state-run Korea Development Bank (KDB) accepted letters of intent in early March from POSCO, retail giant Lotte Group and leading food conglomerate CJ Group to buy a 37.6 pe
March 28, 2011
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POSCO completes new thick-plate plant in Gwangyang
POSCO completed a new thick-plate producing facility within its steelworks in Gwangyang, South Jeolla Province, on Monday.The new plant has an annual production capacity of 2 million metric tons, pushing up POSCO’s total thick-plate production capacity to 7 million tons. Thick-plates are hot-rolled products that are thicker than 6 millimeters used in a variety of products including ships and indus
March 28, 2011
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Incheon Airport marks decade of rapid growth
Incheon International Airport marks its 10th anniversary Tuesday after a span of rapid growth establishing it as a major Northeast Asian hub and the world’s best airport. The country’s main gateway opened in 2001 and has grown by an average 6 percent per year in terms of passenger numbers, according to the Ministry of Land, Transportation and Maritime Affairs.Though it encountered diverse oppositi
March 28, 2011
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Homeplus under probe over product description
The Fair Trade Commission said Monday it is looking into whether Homeplus broke the law with an allegedly misleading advertisement for discount LED monitors sold at its stores last week.Homeplus, the country’s No. 2 retail chain, was offering the LED monitors for as low as 199,000 won ($178.56) at its 122 stores nationwide. Some buyers, however, were angry to discover that the monitors were not eq
March 28, 2011
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KOTRA to support firms’ online marketing
The state-run Korea Trade-Investment Promotion Agency said Monday that it will start assisting local firm’ overseas marketing through online social media. The trade body’s latest move comes as the world’s e-commerce market has been growing rapidly in recent years to reach a size of $9 trillion as of last year, KOTRA said.KOTRA will promote local information technology companies through social netw
March 28, 2011
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Venture aims at billion-seller apps
Podotree, a recently-launched local mobile application venture firm, announced Monday that it aims at 1 billion downloads and 1 trillion won in sales within the next five years.In a press conference held in downtown Seoul, it unveiled its lineup of four applications in three different genres ― story of mankind, inspiring toy and study 101.“The role of podotree is meaningful in that it is not fight
March 28, 2011
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Samsung, Sumitomo Chemical to align on key LED component
Samsung LED Co. on Monday said that it has agreed with Japan’s Sumitomo Chemical Co. to form a joint venture to produce sapphire wafers that are necessary components of light-emitting diode, a semiconductor light source.The LED manufacturer said the 50-50 venture will be capitalized at 80 billion won ($72 million), with production of sapphire ingots and wafers scheduled to begin early next year.Th
March 28, 2011
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Sony Ericsson smartphone to debut in Korea in April
Sony Ericsson on Monday said it will be releasing its new smartphone, “Xperia Arc” in South Korea next month through SK Telecom. South Korea will be the second nation to see the launch of Xperia Arc, following the firm’s home turf of Japan.“We want Xperia Arc to be known not only for its design, but as a phone defining new smartphone standards,” said Han Youn-hee, head of the firm’s South Korean m
March 28, 2011
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Renault Samsung exports top 400,000
Carmaker bounces back from 2009 slump with bumper year for overseas shipmentsRenault Samsung Motors Co. announced Monday that its exports since 2000 broke the 400,000 mark on March 25.According to the company, with a Kuwait-bound ship carrying 1,023 cars leaving Busan port, its cumulative exports since September 2000 rose to 400,250 units. Renault Samsung Motors Co. vehicles wait to be loaded on
March 28, 2011
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Japan Airlines focuses on tie-ups as it exits court protection
Japan Airlines Corp., once the world’s largest international carrier, is set to emerge from bankruptcy administration this week as a smaller company more reliant on Asian routes and global partners. JAL has scaled back its global network, chopping 49 routes, including Sao Paulo, Amsterdam and Milan, and grounding the last remnants of what was the world’s largest Boeing Co. 747 fleet as it cuts 103
March 28, 2011
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Porsche to start $7b share sale to cut debt burden
Porsche SE, the sports-car maker that plans to merge with Volkswagen AG, will start 5 billion euros ($7 billion) share sale March 30 to reduce debt. The carmaker’s supervisory and executive boards signed off on the plan to sell shares at 38 euros apiece to current owners, Stuttgart, Germany-based Porsche said in a statement late Sunday. One existing share carries the right to subscribe to 0.75 new
March 28, 2011
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Tepco chief pressured to quit on reactor crisis
Tokyo Electric Power Co. President Masataka Shimizu is facing calls to quit after the crisis at the utility’s Fukushima Dai-Ichi nuclear plant capped a tenure that has seen $26 billion wiped off the company’s market value. The share price decline since Shimizu took charge in June 2008 at Tepco, as the company is known, has deepened to 67 percent in the aftermath of the nuclear disaster, as of the
March 28, 2011
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Sinopec to cut costs, expand overseas
China Petroleum & Chemical Corp., Asia’s biggest refiner, will cut costs and accelerate its expansion overseas as government controls prevent the company from passing on higher crude-oil prices to customers.Profit rose 14 percent to a record 71.8 billion yuan ($11 billion) last year, the company known as Sinopec said Sunday. Net income missed analysts’ estimates and trailed Cnooc Ltd.’s 85 percent
March 28, 2011
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Air China raises fuel surcharge: Xinhua
surcharge on flights from China to Europe, excluding Russia and Turkey, to 1,000 yuan from 950 yuan per passenger, the official Xinhua News Agency reported. The increase is effective from April 1, according to the report.Hong Kong Dragon Airlines Ltd. raised its fuel surcharge from April 1 for flights from China to Hong Kong to $24.90 per passenger, Xinhua reported, without saying what the previou
March 28, 2011
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Wal-Mart to reopen half of Japan stores
Wal-Mart Stores Inc., the world’s largest retailer, is resuming normal operations at half the stores hampered by Japan’s strongest earthquake as residents struggle to find water, food and other necessities. A dozen of Wal-Mart’s Seiyu stores in the quake-hit Sendai area are restarting full operations Monday after being limited mostly to relief efforts for two weeks, Scott Price, Wal-Mart’s Asia ch
March 28, 2011
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Nintendo ready to take 3-D gaming to mass market
NEW YORK (AP) ― With the Nintendo 3DS, the Japanese video game company is betting that it can once again nudge mass entertainment in a new direction, just as it did nearly five years ago when it launched the Wii with its innovative motion-based controller.This time, though, the competition from other devices is tougher.The handheld 3DS, which goes on sale in the U.S. on Sunday for $250, lets users
March 28, 2011
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Construction sector shrinkage steepest in over a decade
South Korea's construction sector contracted at the sharpest rate in more than a decade in the fourth quarter of last year due mainly to a protracted property market slump, data showed Monday. The construction sector shrank 5.3 percent in the fourth quarter from three months earlier, according to the data by the Bank of Korea and Statistics Korea. The on-quarter decline is the steepest since
March 28, 2011