Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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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
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EU law firms poised to enter Korea
Local practices forced to sharpen edge, but experts say legal fees won’t necessarily fallArmed with money and reputation, major European law firms are eyeing the South Korean market gradually opening up with the EU-FTA that came into effect on July 1. Globally renowned firms such as DLA Piper ― the world’s third-largest law firm ― along with Clifford Chance and Allen & Overy are among those lookin
July 10, 2011
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Hyundai launches new Sonata turbo with upgraded performance
SEOUL, July 10 (Yonhap) -- South Korea's leading automaker Hyundai Motor Co. said Sunday that it has launched a new Sonata turbo model with upgraded performance and competitive options designed to meet consumer demands.The new model of the top selling mid-size sedan has a 2.0-liter gasoline direct injection (GDi) engine that produces a maximum horsepower of 271 and 37.2 kilogram-meters of torque.
July 10, 2011
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BAT Korea cuts price of ‘Dunhill SWITCH’
British American Tobacco Korea said it reduced the price of the superpremium “Dunhill SWITCH” by 200 won to 2,800 won ($2.60) from Friday.BAT Korea reportedly said the company took the action in consideration of consumers’ burden on the price of the cigarettes.The company introduced the new brand with “RELOC” inner wrapping on the local market on June 7. (cheesuk@heraldm.com)
July 8, 2011
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KCC officials in U.S. for Apple, Google probe
The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju
July 8, 2011
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From doctor, IT whiz to educator
Ahn Cheol-soo has polled as one of the figures young Koreans most look up to.(Ahn Hoon/The Korea Herald)Ahn committed to planting entrepreneurship in young hopefulsBehind Korea’s leadership in the high-tech world are a number of business innovators, technology wizards and far-sighted investors.Ahn Cheol-soo leads the pack with his success, acumen and a dramatic life story that combined to make him
July 8, 2011
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Consumer demand for white wine soars in H1
(MCT)SEOUL, (Yonhap) -- South Korean demand for white wine jumped in the first half of the year as consumers sought more diversity in their preferred brands, a leading local wine retailer said Friday.Winenara Co. said 17 white wine brands were included among the top 100 best sellers at its nationwide stores in the January-June period, compared with just five a year earlier. The company sold 330,00
July 8, 2011
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U.S. antitrust crackdown costs Korean firms $1.6b
Korean antitrust regulator advises firms to be prudentKorean companies in the United States have paid about 1.7 trillion won ($1.6 billion) in fines for price-fixing and four out of the top 10 highest-paying companies were from Korea, a ranking official of the state-run antitrust regulator said Wednesday.The Fair Trade Commission on Wednesday explained the business environment of the U.S. on collu
July 7, 2011
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BC Card fights back against ‘domineering’ Visa
BC Card Co., a local payment services provider, is stepping up its offensive against Visa, condemning the global credit card giant for pressing unfair business activities onto its Korean partners.On Monday, BC Card filed a report with the Fair Trade Commission over the U.S.-based company’s overseas fee system. “Visa is conducting illegal activities against the Monopoly Regulation and Fair Trade Ac
July 7, 2011
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PyeongChang Winter Olympics to be a massive boost for Korean economy
Banners celebrating PyeongChang’s selection as the host of the Winter Games in 2018 are hung across a road near the Alpensia Resort in PyeongChang on Thursday. (Yonhap News)PyeongChang’s hosting the Winter Olympics in 2018 will bring massive economic benefits for the country.According to estimates based on a report compiled in 2008 by the Korea Institute for Industrial Economics and Trade, hosting
July 7, 2011
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Apple files complaint against Samsung
Apple Inc. has filed a complaint with the U.S. International Trade Commission to block U.S. sales of Samsung Electronics Co.’s smartphones and tablet PCs, escalating the legal tussle between the two mobile giants. Apple’s ITC filing comes less than one week after Samsung filed a similar complaint with the federal agency, seeking to block Apple from importing the iPhone, iPad and iPod Touch product
July 7, 2011
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POSCO to acquire Southeast Asia’s largest stainless steel maker
POSCO announced Thursday that it signed a share purchase agreement to acquire controlling stakes in the Thai stainless steel maker ThaiNox.ThaiNox is Southeast Asia’s largest stainless steel maker and currently produces about 240,000 metric tons of cold rolled stainless steel on an annual basis.POSCO currently holds a 15 percent stake in the company, and the latest deal will see the steel giant ac
July 7, 2011
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Samsung Electronics’ Q2 earnings fall 26.1%
Source: Samsung Electronics (Yonhap News)Samsung Electronics on Thursday was on par with market forecasts with the announcement that its tentative second quarter operating profit stood at 3.7 trillion won ($3.4 billion), down 26.1 percent from the previous year.Sales rose 2.93 percent from the second quarter of 2010 to reach 39 trillion won to record a 5.43 percent increase from the first quarter.
July 7, 2011
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KRIHS, World Bank sign deal for urban development
Korea Research Institute for Human Settlements President Park Yang-ho (right) and the World Bank Group’s manager of the urban development unit Abha Joshi-Ghani, after signing an agreement to exchange resources on sustainable urbanization. (KRIHS)The Korea Research Institute for Human Settlements, a state-run think tank, said Thursday it has forged an agreement with the World Bank Group to share re
July 7, 2011
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FTA to cut cosmetics, medical prices
Competition is set to become intense between cosmetics and medical equipment firms in Korea and the European Union after the two regions’ free trade agreement came into effect on July 1.Though it will take up to seven years until all the tariffs are eliminated, Korean manufacturers are stoking fears that cheaper European products will erode their competitiveness in the market.European leaders, on
July 7, 2011
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‘Apple to unveil new iPhone in third quarter’
Shoppers enter the Apple Inc. Store on Fifth Avenue in New York. (Bloomberg)NEW YORK (AFP) ― Apple plans to launch its next-generation iPhone during the third quarter of the year, The Wall Street Journal reported on Wednesday.The newspaper, citing “people familiar with the situation,” said Apple has placed orders for key components to used in the new version of the iPhone and that it would be thin
July 7, 2011
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Auto industry on hiring spree in U.S.
In two years since brush with death, auto industry has added jobs faster than rest of economyDETROIT (AP) ― Volkswagen opened a plant in Tennessee last month with 2,000 workers. Honda is hiring 1,000 in Indiana to meet demand for its best-selling Civic. General Motors is looking for 2,500 in Detroit to build the Chevy Volt.Two years after the end of the Great Recession, the auto industry is hiring
July 7, 2011
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LG Electronics cuts smartphone target by 20 pct
LG Electronics Inc., the world's third-largest maker of mobile phones, said Thursday that it expects to sell 24 million smartphones this year, 20 percent fewer than its earlier target, as competition in the lucrative handset market intensifies.The reduced sales target may complicate LG's efforts to revive its money-losing mobile business, which is expected to report a fifth straight quarterly loss
July 7, 2011
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SKT, STX bid for Hynix
SK Telecom and STX Group have submitted letters of intent to acquire Hynix Semiconductor.Friday marked the deadline for a sale broker’s receiving LOIs for a 15 percent stake, whose value ranges between 2.34 trillion won ($2.18 billion) between 2.74 trillion won, in the world’s 2nd-largest semiconductor firm.According to industry sources, SK Telecom has the strong willingness that it “would not los
July 7, 2011