Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Questions raised over fair promotion of RM, NewJeans
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Samsung chairman returns from brainstorming trip
All eyes are on the new business roadmap anticipated to be drawn up by Samsung Electronics’ chairman Lee Kun-hee upon his return to the country following a three-month leave that began in January.The chief of the country’s top conglomerate is known for embarking on such self-imposed pilgrimages ahead of making big decisions for coping with challenges facing the company. This time, the challenge will consist of how to tackle the sluggish global economy and further ramp up flagship Samsung Electro
IndustryApril 7, 2013
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Korean shares expected to rebound
The Korean stock market is expected to rebound as its fundamentals remain untouched despite increasing threats from North Korea.Also, Korean shares will pick up after bearish trading last Friday on the Bank of Japan’s easy-money policy, as the country is set to follow up on its stimulus measures soon, analysts suggested.“We expect to see share prices stay low in the beginning of the week and pick up towards the end of the week,” said Kwak Joong-bo, an analyst at Samsung Securities.“The Bank of K
April 7, 2013
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Economic recovery lags predictions: KDI
The Korean economy is likely to recover slower than expected, despite slight improvements in demand and exports, the state-run Korea Development Institute said on Sunday.The KDI report said that industrial production continued to show weak performance between January and February this year, with February’s data showing a 0.8 percent decline from in January.Facility investment declined as well, indicating that manufacturers are striving to cut costs to further offset their first quarter slowdown.
April 7, 2013
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Material firm eyes world with heat technology
A hidden champion is setting a model example in the local material industry, with its original technology in heat radiant material and patent-focused business strategies.Green & Carbon Solutions, a local small-sized enterprise, currently possesses some 30 local and global patents in the manufacturing and processing of carbon-based thermal substances.Its key technology involves graphene, a novel material which, with its light weight and high heat conductivity, is often used as heat control layers
IndustryApril 7, 2013
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Ministries to invest more in nano technology
In a bid to implement the slogan of creative economy and to boost inter-department cooperation, the government pledged to step up its support for a comprehensive nano technology research and business development project.The Ministry of Trade, Industry, and Energy, together with the Ministry of Science, ICT and Future Planning, will invest a total of 15.3 billion won ($13.5 million) this year into the Nano Tech 2020 business, officials said Sunday.The joint project kicked off last year to offer f
IndustryApril 7, 2013
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SK Group keeps celebrations for 60th anniversary low-key
SK Group is keeping a low profile for its 60th anniversary celebrations as its owner Chey Tae-won is currently awaiting a appellate court appearance on Monday.The country’s third-largest conglomerate is planning to hold a small, quiet ceremony at its SK Academy in Yongin, Gyeonggi Province, on Monday, ahead of Chey’s trial scheduled for 2 p.m. on the same day.The ceremony will be attended by Kim Chang-geun, chairman of SK’s top decision-making body SUPEX Council, SK Innovation vice chairman Koo
IndustryApril 7, 2013
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Northeast Asia’s sovereign risks grow on N.K. threats
Sovereign risks of Northeast Asian economies ― South Korea, Japan and China ― are increasing as North Korea ratchets up its threats against the allied forces of South Korea and the U.S.This heightened regional tension may further drive local stocks and currency to spiral downward going forward as North Korea’s unpredictable bellicose action is undermining investors’ sentiment, analysts said.South Korea, given its closest proximity to the North, has seen its sovereign risk on state bonds measured
April 7, 2013
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Foreign businesses watch N.K. tension
Is Korea, the world’s 14th largest economy celebrated for its hard-working people, now unsafe to do business in? That was undoubtedly the question that popped up at many a corporation, especially multinational companies with offices here, as tension escalated between the two Koreas, possibly to dangerous levels.So far, the answer is “no,” according to multiple industry sources. “Look, geopolitical or political risks alike, there are always going to be regional risks when we do business abroad, a
IndustryApril 7, 2013
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Kumho Tires offers first-ever tire warranty
Kumho Tires started on April 1 offering a mileage warranty for its tires that allows customers to ask for compensation when any discrepancy occurs between the tire’s originally expected lifespan and its actual replacement. It is the first time that a tire maker has introduced the mileage-based warranty service in Korea where drivers’ rough driving style, including frequent and sudden stop-and-go driving, causes quicker tread wear on tires, as well as increased fuel consumption. “Compared to othe
MobilityApril 7, 2013
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GM, Opel CEOs to meet German leader Merkel
The chief executive of General Motors and the head of its Opel unit in Germany will meet Chancellor Angela Merkel this week to discuss the rejection of a plant closure timetable by workers which could speed the factory’s shutdown.With job losses looming at Opel’s Bochum plant and against a background of European car sales in freefall, government spokesman Georg Streiter said Dan Akerson and Karl-Thomas Neumann will have a one-hour session with Merkel in Berlin on Thursday.Merkel is seeking a thi
MobilityApril 7, 2013
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Ferrari sees growth in Japan but falls in China, Europe
Japan is becoming Ferrari’s next growth market. Registrations of Fiat SpA’s ultra-luxury brand surged 40 percent to 144 vehicles in Japan last quarter, according to the Japan Automobile Importers Association on Thursday. That’s more than twice the pace in the larger U.S. market, while demand is slumping in China, at home and across Europe. The surge in demand for luxury cars adds to signs that Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda are succeeding in reviving spendin
MobilityApril 7, 2013
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Audi beats expectations
The Korea Herald, in cooperation with carmakers, offers a test-driving experience to executive officials at Korean or multinational companies or ranking diplomats here. The opinion below is the author’s own. For any inquiry into this column, please contact jylee@heraldcorp.com. ― Ed.I must admit I was not initially prepared to like the Audi A8L TDI Quattro. I had never been a huge fan of Audis primarily because I always thought the four rings, overall shape and other external styling features la
MobilityApril 7, 2013
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S. Korea's economy recovers at slower pace than expected: report
SEJONG -- South Korea's economy is recovering at a slower pace than expected amid still weak exports growth and sluggish job creation, a state-run think tank said Sunday. "The Korean economy showed mitigated contraction in domestic demand and a rebound of exports to a positive growth, but its overall pace of recovery is more moderate than expected," the Korea Development Institute said in its report that analyzed the latest economic indicators. The report said that retail sales in Februar
April 7, 2013
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Tech firms cut smartphone prices
South Korean smartphone manufactures have reduced their factory prices of products in line with the government's effort to tighten regulations on price subsidies, industry sources said Saturday.Samsung Electronics, the world's top smartphone marker,slashed the price of its Galaxy Note 2 model to 990,000 won ($874.9), down 9 percent from the previous 1.08 million won, according to the sources.The top player also discounted the factory price of its Galaxy 3 models to 790,000 won, compared to the p
IndustryApril 6, 2013
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Number of stock accounts plunges on bear market
The number of active accounts for stock trading in South Korea declined in March from a month earlier amid a prolonged bear market stemming from rising economic and political uncertainties, data showed Friday.South Korean investors held 18.9 million active stock accounts as of end-March, down 3.9 percent from 19.7 million accounts tallied in end-February, according to the data compiled by the Korea Financial Investment Association.The number fell below the 19 million mark for the first time in 1
April 5, 2013
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Seoul fails in Turkey nuclear plant bid
South Korea may have failed to grab Turkey’s nuclear power plant project, which could instead go to China or Japan, a government official said Friday.The official from the Ministry of Trade, Industry and Energy said the country was still waiting for an official report from Ankara, but noted the country’s bid may have already proven unsuccessful.“From what we have heard directly (from Turkey) and from remarks of Turkey’s energy minister in recent interviews, it appears Turkey is now considering b
April 5, 2013
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KDB Financial union opposes new CEO pick
Unionized workers at KDB Financial Group Co. on Friday expressed strong opposition to the appointment of a presidential aide as its chief, saying he has been tapped thanks to his political connections.The Financial Services Commission, the country’s top financial regulator, on Thursday picked Hong Ki-taek, an economics professor and an aide to President Park Geun-hye, to head the state-run banking giant. The KDB Financial chief is appointed by the president on the recommendation of the FSC chair
April 5, 2013
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Korean economy to grow 2.8% this year: analysts
South Korea’s economic growth rate for this year is expected to beat the government’s estimate on the back of its economic stimulus measures including an extra budget, analysts said Friday.Ten major securities firms’ average economic growth outlook for 2013 came in at 2.8 percent, 0.5 percentage point higher than the 2.3 percent projected by the government last month, according to the analysts polled by Yonhap News Agency.Woori Investment & Securities Co. and Hyundai Securities Co. expected the
April 5, 2013
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German court invalidates Apple’s ‘slide to unlock’ patent
A German court has invalidated Apple’s patents related to its “slide-to-unlock” user interface.The German Federal Patent Court said Thursday that it found all claims of Apple’s “slide-to-unlock” interface property invalid.Apple Insider, an Internet IT news provider in U.S., said “the German court noted that Apple’s patent claim for a swiping gesture, the only new enhancement to prior art, doesn’t meet certain requirements of European patent law.“This so-called inventive step, which is needed to
TechnologyApril 5, 2013
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KORAIL moves to wash hands of Yongsan project
The state-run rail operator KORAIL announced on Friday that it will wash its hands of the troubled Yongsan development project as its normalization proposal failed to gain approval from the board of Dream Hub PFV. Dream Hub is a special purpose company, set up in 2007, for decision-making on the Yongsan project, the nation’s single largest development plan to build an international business district in central Seoul. It is composed of 30 shareholders, including KORAIL, the biggest shareholder wi
IndustryApril 5, 2013