Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Porsche supercar seen reviving sales
A Porsche 911 GT2 RS automobile is released to the media on Friday. (Bloomberg)Porsche AG may develop a supercar positioned higher than the 911 GT2 RS to broaden its line-up and sustain growth as orders cool from record deliveries last year. The car could be combined with additional variants of the Cayman and Boxster as well as extended-wheelbase and convertible versions of the Panamera four-door
July 11, 2011
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Aussie firms whinge about carbon tax
Australia’s largest airline says the tax will cost as much as $123 million in 2013Macarthur Coal Ltd., BlueScope Steel Ltd., and Virgin Blue Holdings Ltd. led declines in Australian trading Monday after the government unveiled the country’s first levy on greenhouse-gas emissions. Polluters will pay AU$23 ($24.74) per metric ton of carbon emissions, Prime Minister Julia Gillard said Sunday in Canbe
July 11, 2011
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HC Petrochem begins works to triple capacity
Industry and government officials including Hyundai Oilbank CEO Kwon Oh-gap (sixth from left) and Cosmo Oil CEO Kimura Yaichi (fifth from left) take part in the groundbreaking ceremony for HC Petrochem’s new plant in Daesan, South Chungcheong Province, Friday. (Hyundai Oilbank)HC Petrochem, a joint venture between Hyundai Oilbank Co. and Japan’s Cosmo Oil Co., began work on a new plant that will t
July 10, 2011
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LG’s Cinema 3-D TV ...certified as full HD
LG Electronics’ Cinema 3-D TV was certified as full HD in 3-D mode by VDE, one of Europe’s largest technical and scientific international associations, the Seoul-based company said on Sunday. “This latest certification proves beyond all doubt that LG’s Cinema 3-D TVs, which already provide the most comfortable 3-D viewing experience, deliver 3-D in full HD,” said Havis Kwon, President and CEO of L
July 10, 2011
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Korean outside directors ...make dubious watchdogs
Some draw as much as 97 million won for 10 days of workOutside directors at Korean companies may not be fulfilling their roles despite their handsome salaries.According to the data local firms submitted to the Financial Supervisory Service, some firms paid their outside directors as much as 9.7 million won ($9,200) for each day they spent attending company functions. Outside directors were made a
July 10, 2011
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Deep-pocketed luxury brands skimpy on ...donations
Louis Vuitton and other global luxury goods makers saw their profits soar in South Korea in the last decade but remained reluctant to make social contributions, their financial statements showed Sunday.Louis Vuitton Korea Ltd., a unit of the world’s largest luxury goods maker LVMH Moet Hennessy Louis Vuitton SA, posted higher net profit growth than any other luxury goods maker in South Korea, acco
July 10, 2011
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Woongjin Coway enjoys boon from national health trend
Woongjin Coway Co., already the industry leader in water and air purifiers, is enjoying a second bloom. The Seoul-based company logged sales of 1.51 trillion won ($1.43 billion) and 228.8 billion won of operating profits last year, marking the 12th consecutive year of record-high sales.“In May, we reached record-high sales in just a month. We are entering our second heyday,” Woongjin Coway CEO H
July 10, 2011