Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Hanwha E&C wins $220 million Kuwait contract
Hanwha Engineering and Construction Co. has won a $220 million refinery facility contract in Kuwait.Under the deal signed Monday, the company will update fire detection and alarm systems at three refinery facilities near Kuwait City, and two office buildings, the company said.The project, issued by the state-run Kuwait National Petroleum Co., is to be completed in 30 months, the builder said.“The
IndustryMarch 16, 2011
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SK Telecom begins iPhone sales in S. Korea
SK Telecom Co. began to ship pre-ordered iPhone 4 smartphones to its customers on Wednesday, creating a rare scene as South Korea's top mobile carrier lavishly promoted a foreign brand's handset. As SK Telecom belatedly joined the race to woo potential iPhone buyers and steal customers from its rival KT Corp., the iPhone is enjoying special treatment from the usually snooty mobile operator tha
March 16, 2011
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FSC No.2 man tapped to head top watchdog
Kwon Hyuk-se, 55, vice chairman of the Financial Services Commission, has been nominated as the new chief of the Financial Supervisory Service, the country’s top financial watchdog. President Lee Myung-bak will be formally appointing Kwon as governor of the organization following a vote today by the members of the Financial Services Commission.Kwon would afterward be inaugurated on March 28, a co
March 15, 2011
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Kia bags two top design awards
Kia Motors Corp.’s midsized sedan K5 and the compact SUV Sportage R are to receive the top prizes in this year’s Red Dot Design Award, the carmaker announced Tuesday.According to Kia, this is the first time Korean automobiles have been selected to receive the top honors in the German design award. K5 (top) and Sportage RThe K5 has been selected as the Best of the Best award winner in the automobil
IndustryMarch 15, 2011
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KOGAS touts environmental, social contributions
State-run natural gas developer Korea Gas Corp. said it will further boost its efforts for achieving mutual growth with its contractors and other philanthropic activities, the firm said. KOGAS’ service was recognized last year when it was made Fortune Magazine’s list of the World’s Most Admired Companies. The firm ranked the fourth in the energy firm category. It received good marks for its excell
IndustryMarch 15, 2011
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Japan quake feared to hurt Korean exports
The massive earthquake that hit Japan last week could slow down Korea’s exports as demand from the nation’s second-largest trade partner might contract significantly due to a protracted economic slowdown, experts said Tuesday.Korea’s exports to Japan have been improving since the start of this year. During the first two months, Korea’s exports to Japan jumped 47.7 percent from a year earlier to $5
March 15, 2011
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Seoul shares plunge on Japanese radiation fears
KOSPI plummets below 1,900 during trading session, shedding 2.4% at closeKorean stocks tumbled 2.4 percent to a 15-week low on Tuesday hit by rising worries over radiation leaks from Japan’s quake-stricken power plant.The benchmark KOSPI fluctuated during the day, plunging to 1,882.45 at one point though it later managed to contain falls to close at 1,923.92.A day before the index stood at 1,971.2
March 15, 2011
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Yoon criticizes oil refineries over pricing
Korea is drawing up measures to induce price cuts by oil refineries, the nation’s top economic policymaker said Tuesday, expressing suspicion that they are not setting prices for domestic consumers in a transparent manner.The remarks by Finance Minister Yoon Jeung-hyun are the latest in his series of strong words against the nation’s oil refinery industry. He has been accusing the industry of keep
March 15, 2011
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Ssangyong to invest W240b in rebuilding
Mahindra and Mahindra completes acquisition of Korean automakerSsangyong Motor Co. will invest 240 billion won ($212 million) in developing new products and building its brand, new CEO Lee Yoo-il said at the press conference announcing the completion of Mahindra and Mahindra Ltd. on Tuesday.The Indian company was chosen as the preferred bidder for Ssangyong in August 2010, about 18 months after th
IndustryMarch 15, 2011
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Five years old, Twitter changing the world
SAN FRANCISCO (AFP) ― At five years old, Twitter is just starting to change the world.Jack Dorsey fired off the first tweets on March 21, 2006, an automated “just setting up my twttr” message which he followed with the first “human” tweet ― “inviting coworkers.”It was Dorsey who proposed the idea for Twitter while working with Biz Stone and Evan Williams at podcasting company Odeo.Since then, Twit
TechnologyMarch 15, 2011
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Next 3-D war to be about content
Developing content will be key to success of new television setsWhat’s the use of having a high-fangled 3D TV or a smart TV if there is nothing to watch? This is a question that 30-year-old bride-to-be Kim Eun-jung keeps asking herself as she shops for appliances ahead of her wedding. Her concerns seem universal, as netizens are busily asking similar questions in online communities about whether t
TechnologyMarch 15, 2011
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Facebook launching Groupon-style service
Facebook Inc. plans to test a Groupon-inspired service that will sell discount offers, an effort to use its 500 million-plus members to capitalize on the surging online-deal market.The service will get started in San Francisco, San Diego, Dallas, Atlanta, and Austin, Texas, the company said last week in a statement. It will be part of Facebook’s existing Deals program, which lets businesses offer
IndustryMarch 15, 2011
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Toyota output may fall by 40,000 cars on power shortage
Toyota Motor Corp., the world’s largest carmaker, may lose output of at least 40,000 vehicles after Japan’s strongest earthquake damaged factories and crippled nuclear power plants, causing electricity shortages. Toyota closed 12 plants in the nation through Wednesday, Shiori Hashimoto, a spokeswoman for the company, said by phone Monday. The manufacturer’s profit will be cut by 6 billion yen ($72
IndustryMarch 15, 2011
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Japan quake may push up fuel imports
Economists uncertain how Japan disaster will affect oil demand, though imports likely to riseNEW YORK (AP) ― The earthquake and tsunami in Japan took some steam out of the rally in oil prices by reducing the country’s oil imports. That won’t last long.Japan consumes about 4.4 million barrels of oil per day, most of it imported. Only the U.S. and China consume more. With steel plants, auto manufact
IndustryMarch 15, 2011
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Online sites top newspapers for Americans: report
WASHINGTON (AFP) - More Americans are getting their news from the Internet than from print newspapers for the first time as audience figures for cable news programs fall, according to a report released on Monday.The State of the News Media 2011 report by the Pew Project for Excellence in Journalism said that in another first, online advertising revenue topped that of print newspapers last year.Fo
TechnologyMarch 15, 2011
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Samsung donates 100 mln yen for Japan's quake relief
Samsung Group, South Korea's largest business conglomerate, said Tuesday that it has donated 100 million yen ($1.22 million) to help Japan's earthquake relief. In addition to the donation, the group will dispatch 10 rescue workers from Samsung Rescue Corps. and 11 medical workers from the Samsung Medical Center after consulting with the Japanese government, it said in a statement. The group
IndustryMarch 15, 2011
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Australia may reconsider rejection of mine project
Australia may reconsider rejection of mine projectAn Australian state government will reconsider a rejected Korean consortium-led coal mine project, Seoul’s state-run resource explorer said Monday.Early this month, Australia’s New South Wales state government refused the proposal submitted by Korea Resources Corp. (KORES), citing concerns over water, ecological and heritage impacts.KORES said it w
IndustryMarch 14, 2011
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Yoon regrets Samsung chief’s criticism of economic policy
Yoon regrets Samsung chief’scriticism of economic policyFrom news reportsFinance Minister Yoon Jeung-hyun expressed regret Monday about Samsung Electronics chairman Lee Kun-hee’s recent criticism of the government’s economic policy. “It is truly embarrassing and disappointing,” Yoon told lawmakers about Lee’s disparaging remarks on the Lee Myung-bak administration’s policy performance.Last Thursda
March 14, 2011
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Seoul stocks weather Japan quake impact
South Korean stocks closed 0.8 percent higher on Monday as big gains by electronics and steelmakers helped offset jitters over Japan’s massive earthquake, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI advanced 15.69 points to 1,971.23 after falling as much as 1.2 percent at one point. Trading volume was moderate at 384.1 million shares, worth 9.4 trillion won (
March 14, 2011
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Groupon aims for slice of Korean social commerce market
Groupon Korea on Monday punctuated its launch on the Korean market with a monthly sales target of 10 billion won ($880 million) during the first half of this year.The goal falls behind the annual 200 billion won targeted by Ticket Monster, the nation’s top social commerce operator, but Groupon brushed aside concerns, saying its initial goal would be to create a healthy social commerce environment
IndustryMarch 14, 2011