The Korea Herald

Overseas investment fair kicks off

May 19, 2011

The Korea Overseas Investment Fair 2011 kicked off Thursday in Seoul to provide Korean companies with comprehensive information on foreign investment, according to the Korea Trade-Investment Promotion Agency, its organizer. In the two-day event at COEX in southern Seoul, officials from 29 countries in Europe, Asia, Africa, the Middle East and Latin America had one-on-one meetings and discussed b...
LS Cable and System develops power cable for airplanes

May 19, 2011

LS Cable and System, the country’s largest producer of cables and wires, announced Thursday that it has developed a cable for supplying power to airplanes, a first time for Korea. The cable was supplied to Incheon International Airport Corp. According to the company, the new cable is capable of carrying electrical currents of up to 400 hertz frequency, making the new product compatible with ele...
NHN posts solid figures in Q1

May 19, 2011

NHN Corp., an Internet content service operator, announced Thursday it recorded 517.3 billion won ($4.76 million) in operating revenue and 168.5 billion won in operating profit for the first quarter, both figures profiting from an increase in search advertisements. The company, well-known for its search engine Naver and online game site Hangame, said its operating revenue and operating profit su...
Neowiz Games records highest quarterly earnings

May 18, 2011

Neowiz Games Corp., a Korean online game publisher, said Wednesday it reached 147.7 billion won ($136 million) in sales and 33.8 billion won in operating profit in the first quarter, breaking its quarterly record due to sharply rising overseas sales. The company, well-known for its game portal Pmang, expanded overseas sales by 141 percent ― taking up 48 percent of its overall sales ― compared to...
KEPCO wins $46m power cable project in Dominican Republic

May 18, 2011

Korea Electric Power Corp., the state-run energy company, said Wednesday that it has won a $46 million order from the Dominican Republic to install power transmission lines in the Caribbean island nation. KEPCO said it signed the deal with the Dominican government on Tuesday in Santo Domingo, the country’s capital, to replace 400 kilometers of old power cables in three major cities there by May ...
GS chairman Huh highlights challenge, innovation and practice

May 18, 2011

GS Group chairman Huh Chang-soo emphasized the value of challenge, innovation and practice at a forum with executives of the conglomerate’s affiliates Wednesday. The Value Creation Forum was created last year to “uplift and settle the significance of innovation and change” in the corporate culture by sharing successful cases of innovation management among affiliates, GS said. About 400 officials...
Seoul-Busan KTX line cuts air travel to Gyeongsang

May 18, 2011

The number of people traveling the Seoul-Ulsan air route fell 39.4 percent since the last section of the Seoul-Busan high-speed railway was opened, the Ministry of Land, Transport and Maritime Affairs said Wednesday. The Seoul-Busan line connected the East Daegu-Busan line to the Seoul-East Daegu line that was completed earlier, and KTX high-speed trains began operating on the route on Nov. 1. ...
[Meet the CEO] Fuji Xerox aims to sell 100,000 printers

May 18, 2011

Company increases Korean sales target for this year to 80 billion won With a goal of selling 1 million printers in the Asia-Pacific region, Fuji Xerox Printers Korea plans on introducing its products to 100,000 people here this year. Hwang Yoo-chun, chief executive officer of the company, said that it has fixed its target at 100,000 printers in Korea alone, as well as 500,000 printers in China....
Businesses fire up anti-smoking efforts

May 18, 2011

Companies use incentives, anti-smoking aids and negative evaluation to help smokers quit Keeping abreast with growing anti-smoking campaigns, major companies are stepping up efforts to drive cigarette smoke from the workplace. Some big companies use a “carrot and stick” policy, such as offering incentives, anti-smoking aids and even negative evaluation, to help employees quit smoking. The worl...
Korea grants permanent residency to seven European businessmen

May 17, 2011

Korea granted permanent residency to seven European entrepreneurs on Tuesday, acknowledging their contribution to the country’s economic growth. The recipients have lived here for two to 13 years largely working for European investment firms and were recommended by the European Union Chamber of Commerce in Korea. The list includes Friedrich Stockinger, president of Trumpf Korea; Holger R. Doerr...
Lotte Mart reignites pricing debate with W7,000 chicken

May 17, 2011

Lotte Mart has begun selling bargain chicken priced at 7,000 won ($6.42), reigniting controversy over fair competition between large retailers and smaller eateries. The black garlic flavored chicken has been on sale since Thursday at the retailer’s 88 stores across the country at a price 2,000 won cheaper than its earlier chicken release in December. As sales of its earlier product, dubbed ultr...
GS Caltex extends retirement, adopts peak salary system

May 17, 2011

The country’s second largest refiner GS Caltex Co. announced Tuesday that it will raise the retirement age by two years and apply peak salary system from next year. Under the agreement GS Caltex reached with its labor union last month, the retirement age will be raised from 58 to 60 years of age from Jan. 1, 2012. With the peak salary system taking effect on the same date, the base pay for work...
The Macallan looks to revive chemistry with art

May 17, 2011

The Macallan premium single malt whisky from Speyside, Scotland, is returning to Korea with a new special edition, aiming to generate chemistry between whisky and the legendary photographer Albert Watson. For the biennial “Master of Photography” project, the Scottish distillery selects an artist to portray the craft of whisky-making through photography. The veteran artist focused on conveying t...
What’s your favorite app?

May 17, 2011

Applications related to media, games, lifestyles most profitable Choi Hyun-young, a wedding planner by profession, says life has become so much easier since downloading Awesome Note on her smartphone. The application ― which is basically an online organizer and note-taker ― helps Choi keep her hectic schedule intact with customized folders for work and her personal life, under which she keeps a...
EU clears Portugal bailout

May 17, 2011

Ministers sign off on $110b in rescue loans, continue to wrestle over Greece BRUSSELS (AP) ― European governments insisted on handing out bailouts to fight the debt crisis on Monday, when they signed off on 78 billion euros ($110 billion) in loans to Portugal and debated giving Greece a second rescue package to avoid a disastrous default. Most of the terms for Portugal’s package had emerged ove...