Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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SKT reports its rivals to state telecom regulator over subsidy
SK Telecom, the country’s largest mobile carrier, said it submitted a request to the state telecom regulator, asking it to punish its competitors over wrongful plays such as massive subsidy offering.The company claims its two rivals KT Corp. and LG Uplus have impeded competition by providing subsidies that amount to over 700,000 won over the past two months.“Recently, KT and LG Uplus have been ope
June 15, 2011
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Samsung pushes reshuffles on Lee’s call
Conglomerate replaces two execs responsible for auditingSamsung Group has replaced its top auditing and human resources managers, signaling that a conglomerate-wide shakeup may take place soon.Samsung said it named Chung Hyun-ho as the new head of the business examination team, which oversees audits, and Chung Keum-yong as the chief of human resource support.The replacement of the company’s high-r
June 15, 2011
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[Herald Interview] Transforming Korea into global exhibition leader
Korea’s growing economic muscle and brisk exports will turn the country into a leading global exhibition destination, said Choe Dae-kyu, vice chairman of the Association of Korea Exhibition Industry. Registered under the Ministry of Knowledge Economy, the organization promotes trade fairs held here and supports related policies. Its 44 members are largely exhibition hall operators, event organizer
June 15, 2011
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Chaebol heirs prove their mettle as leaders
Third-generation members of business families moving up the executive ladderThird-generation chaebol family members appear to be rapidly consolidating their positions at the country’s largest conglomerates.Among the grandchildren of chaebol founders, Hyundai Motor Group’s Chung Eui-sun is taking the fastest route to the top. On Aug. 20, 2009, Hyundai Motor Group promoted chairman Chung Mong-koo’s
June 15, 2011
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Google invests $280 million to spur home solar
NEW YORK (AP) ― Google is making its largest investment yet in clean energy in an effort to help private homeowners put solar panels on their rooftops.The $280 million deal with installer SolarCity is the largest of its kind. SolarCity can use the funds to pay for a solar system that it can offer to residents for no money down. In exchange, customers agree to pay a set price for the power produced
June 15, 2011
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Recharged Ford sets sights on Asia
DETROIT (AFP) ― With its turnaround in North America essentially finished, Ford Motor Co. is looking to the next act in its comeback by building its business in Asia’s emerging markets.Ford plans to grow global sales by 50 percent over the next four years with a strong push into markets such as China and India, chief executive officer Alan Mulally said last week. A Ford Motor Co. Mondeo at the Aut
June 15, 2011
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Airbus to introduce see-through plane by 2050
Airbus, the world’s largest aircraft manufacturer, said it would look to develop planes which all passengers can enjoy the view by 2050. In the plane, people would no longer have to grab a window seat to get a glimpse of sky, but could enjoy the views through glass ceilings. There also will be no division of classes of seats, it said.Charles Champion, executive vice president of Airbus, told repor
June 15, 2011
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KT, NHN to join hands for Wi-Fi ad
Korea’s telecom titan KT Corp. and NHN Corp., the operator of Korea’s most-visited Web search engine, will set up a joint venture next month to offer mobile ads for wireless-fidelity users, the companies said Tuesday. KT and NHN Business Platform Corp., NHN’s affiliate providing ad sales and information technology infrastructure, will each invest 3 billion won ($2.76 million) in the joint venture,
June 14, 2011
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POSCO opens 1st overseas facility for processing steel thick plates
POSCO opened its first overseas thick-plate processing center in China on Tuesday. These are steel plates thicker than 6 millimeters used in shipbuilding and heavy equipment production.The center, POSCO-China Dalian Plate Processing Center or POSCO-CDPPC, is located on Changxing Island of the coast of Dalian in Liaoning province, Northeast China. “China was chosen for the site of the company’s fir
June 14, 2011
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Korea to build unmanned boats for research, surveillance
Korea plans to develop unmanned boats for maritime research and surveillance by investing 20 billion won ($18.5 million) over the next five years, the government said Tuesday.The automated boats will sail at a speed of up to 90 kilometers per hour within a 16 kilometers radius and avoid collisions with other vessels or obstacles, the Ministry of Land, Transport and Maritime Affairs said in a state
June 14, 2011
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Hyosung develops high-strength carbon fibers
Hyosung Corp., a Korean maker of chemicals and automatic teller machines, said Tuesday it has developed the country’s first high-strength carbon fibers, paving the way for the next-generation fabrics that are lighter, stronger and more elastic.The ultra-thin materials have stepped into the limelight in recent years as their low weight, high-tensile strength and temperature tolerance made them desi
June 14, 2011
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Samsung Electronics begins Olympic promotion
Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from
June 14, 2011
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IMF bars Fischer from race for top job
June 14, 2011
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Hanwha, Merck sign license deal on biosimilar drug
Hanwha Chemical Corp., the country’s leading petrochemical firm, said on Monday it has reached a license agreement worth $720 million for its arthritis biosimilar with Merck Sharp & Dohme Research Ltd., a subsidiary of U.S. drugmaker Merck & Co.Under the deal, the two companies plan to develop and commercialize the drug candidate named HD 203 together. Merck secures its sales rights in all countri
June 13, 2011
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Korea Aerospace Industries celebrates its first export
Korea Aerospace Industries on Monday held a reception marking the export of its T-50 trainer jets to Indonesia.The T-50 is the country’s first supersonic jet developed in collaboration with the U.S. defense giant Lockheed Martin. The project took 2 trillion won ($1.8 billion) and 13 years to produce the T-50. T-50. (Korea Aerospace Industries)Under the $400 million contract, signed last month, wi
June 13, 2011
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Samsung Electronics, SKT most favored workplaces
Samsung Electronics and SK Telecom were picked as the best companies for people to work in a survey released by an economic consulting firm on Monday.The Korea Management Association Consultant said Samsung Electronics received the highest marks in manufacturing and SKT was rated No. 1 in service providers when selecting the top company to work for in Korea in a survey answered by 5,214 people.Sam
June 13, 2011
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POSCO’s China subsidiary completes plant expansion
Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also
June 13, 2011
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LGE commits to basics, quality
Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in
June 13, 2011
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Machinery orders drop in Japan
Japan’s machinery orders fell for the first time in four months in April, an indication that companies are reluctant to spend after the March 11 earthquake and tsunami. Factory orders declined 3.3 percent in April from March, when they rose 1 percent, the Cabinet Office said Monday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to increase 1.7 percent, ac
June 13, 2011
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SKT short of savvy in overseas markets
Unsuccessful ventures eat into mobile carrier’s valueSK Telecom, the nation’s No.1 wireless service provider, has proved to be far from savvy when it comes to overseas ventures. After unsuccessfully knocking on the doors of numerous overseas markets including the U.S. and China for six years, the company was forced to call it a day. The failure was such that former SKT chief executive Chung Man-wo
June 12, 2011