Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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Korea’s homegrown nanosatellite successfully launches into space
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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LSIS begins works on electric car component plant
LSIS Co., LS Group’s electric equipment maker, on Monday broke ground for an electric vehicle relay manufacturing plant. Electric vehicle relay is a core component of electric cars that relays electricity to the vehicle’s powertrain from the battery pack. The company plans to complete the plant located in Cheongju, North Chungcheong Province during the first quarter of the year. The company said t
May 23, 2011
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STX Group launches in-house think tank
STX Group launched the think tank STX Future Institute on Monday.The organization will be headed by the group’s vice chairman Shin Chul-seak. STX Future Institute will be tasked with leading efforts to establish systemic management that is part of the company’s Vision 2020 plans, the company said.Announced at the group’s 10th anniversary event held in Dalian, China last month, Vision 2020 calls fo
May 23, 2011
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Anti-drunk driving campaign launched
Pernod Ricard Korea, the local unit of the global beverages group, launched a campaign against drunk driving Monday in Seoul as part of the France-based company’s worldwide initiatives.The maker of Absolut Vodka and Ballantine’s whisky has been laying out its “smart driving” campaign here since 2007, aiming at reducing alcohol-related car accidents and promoting a sound drinking culture. This year
May 23, 2011
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No. 2 makers shake up drinks industry
OB, Lotte Liquor make big gains on larger market rivals Hite, JinroNo. 2 brands of beer, soju and whisky are hot on the trail of front-runners in the Korean drinks market, industry data showed Tuesday. In the beer market, Oriental Brewery, the country’s No. 2 beer maker since 1994, made big strides in the first quarter of the year beefing up its stake to 46.6 percent by shipment volume, according
May 23, 2011
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Internet bosses woo world leaders at ‘e-G8’
PARIS (AFP) ― The world’s most powerful Internet and media barons gather in Paris on Tuesday in a show of strength to leaders at the G8 summit, amid international rows over online access, copyright and regulation.Top executives from online giants like Google, Facebook and Microsoft will tout the economic potential of the Internet, which their host, French President Nicolas Sarkozy, has put on the
May 23, 2011
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Creditors may delay Hynix sale into June
Creditors of Hynix Semiconductor Inc. said Monday that they may kick off the process to sell a major stake in the second-largest computer memory chipmaker next month, delaying the sale from their previous schedule. Creditors, including Korea Exchange Bank, Woori Bank and state-run Korea Finance Corp., had initially planned to start the process to sell their combined 15 percent stake in Hynix
May 23, 2011
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Resources development rush boosts revenue, fund investment
Korean firms’ aggressive drive to explore overseas resources is shoring up their revenue and helping them secure a stable supply while boosting public demand for commodity investment products. Natural resources such as oil, gas and rare metals have been deemed a promising revenue source by companies including POSCO, STX and Hyundai Heavy Industries amid energy price surges. The developers are sett
May 22, 2011
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TV makers take third of global market
About a third of televisions sold across the world during the first quarter of the year were produced by South Korean firms, a report showed Sunday.According to a report by the display market research firm DisplaySearch, Samsung Electronics sold 8.87 million flat panel televisions during the period taking 18.5 percent of the 47.9 million-unit global market. During the same period, LG Electronics s
May 22, 2011
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IMF approves $36.8b loan to Portugal
WASHINGTON (AFP) ― The International Monetary Fund on Friday approved a 26-billion-euro ($36.8 billion) three-year loan to Portugal as part of a European Union bailout of the struggling eurozone country.The “front-loaded” program makes about 6.1 billion euros “immediately available to Portugal” from the IMF, the Washington-based institution said in a statement.“The financing package is designed to
May 22, 2011
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Germany backs Lagarde for IMF job
BERLIN (AP) ― Germany’s finance minister on Saturday added to a chorus of calls for France’s Christine Lagarde to become a new leader of the International Monetary Fund.Lagarde has emerged as a front-runner to replace Dominique Strauss-Kahn, also of France, who resigned this week to face charges in New York that he tried to rape a hotel maid. He denies the charges. French Finance minister Christin
May 22, 2011
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Choi joins with SKT to help underprivileged youth
Players champion donates W100m to build youth center in North JeollaChoi Kyoung-ju, the first Asian to win the Players Championship earlier this month, offered to donate 100 million won ($92,353) to establish a youth support center in North Jeolla Province at an event in Jeju on Saturday.In a joint effort with SK Telecom, Choi’s donation will be used for establishing a “1318 Happy Zone” center for
May 22, 2011
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HTC ups commitment to woo Korean consumers
Jack Tong, president of HTC’s North Asia markets, on Friday pledged to beef up commitment on the observation that Korea is a “difficult place” for a foreign brand to succeed mainly due to the competition posed by strong local brands.“I have to admit it is not easy. The Korean market is the most difficult and challenging market for foreign brands,” Tong said. “It’s difficult for the foreign brands
May 20, 2011
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SKT Wi-Fi zone would be exclusive
SK Telecom plans to shut down its free wireless Internet services to subscribers of other mobile carriers starting from July, stoking discontent among smartphone users.The country’s largest mobile carrier said Thursday it would change its Wi-Fi operation policy and only open the service to subscribers of SKT beginning on July 1.“The measure has been drafted for our own customers to enjoy the servi
May 20, 2011
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Neowiz COO picked as game group head
The Korea Association of Game Industry announced Friday that it seated Choi Kwan-ho, chief operating officer of Neowiz Games, as its chairman, filling in the position which was left vacant for three months.In a press conference held in southern Seoul, Choi said he plans to file a constitutional petition in protest of the government’s decision to implement the new “Cinderella law” later this year.T
May 20, 2011
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Samsung C&T leads green innovation in construction
Samsung C&T Corp., the country’s No. 2 builder, is strengthening its eco-friendly capabilities to take the lead in applying green technologies to the construction sector.The company, which developed the zero-energy building Green Tomorrow, has been strengthening research and development efforts, as well as securing a pool of experts. Green Tomorrow contains 68 eco-friendly technologies, allowing t
May 19, 2011
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STX Heavy signs W3tr Iraq power plant deal
STX Heavy Industries Co. announced Thursday that it has signed a 3 trillion won ($2.77 billion) contract to build power plants in Iraq.The contract was signed in Baghdad at a ceremony attended by STX Heavy Industries chief executive Lee Chan-woo, Iraqi Prime Minister Nouri al-Maliki and Electricity Minister Raad Shallal. STX Heavy Industries Co. and Iraqi officials including CEO Lee Chan-woo (thi
May 19, 2011
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Samsung wins award for 3-D TV
Samsung Electronics has received the Best in Show award for its 70-inch “Ultra Definition” 3-D technology at this year’s Display Week 2011, the company said on Thursday. The Society for Display, a leading global organization dedicated to electronic display technology and organizer of the event, announced the selection of Samsung Electronics at Display Week, which is being held in Los Angeles this
May 19, 2011
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POSCO Power completes first hydrogen fuel cell stack
The country’s first hydrogen fuel cell stack developed with local technology was completed, POSCO Power announced Thursday.Affiliate of the steelmaker POSCO, POSCO Power is the country’s largest private power generating firm.POSCO Power’s fuel cell stack has a generating capacity of 1.4 megawatts, which according to the company is sufficient to supply 1,600 households. POSCO Power employees work
May 19, 2011
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Pantech SKY unveils high-speed Vega Racer
Pantech SKY unveiled the world’s first Android-powered smartphone equipped with Qualcomm’s speedy 1.5 gigahertz dual core processor called Vega Racer on Thursday.The company said that its new smartphone with a 4.3-inch display screen would be available in four different colors and serviced by the country’s three telecom suppliers ― SK Telecom, KT Corp. and LG Uplus.“We attempted to upgrade the dua
May 19, 2011
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[News Focus] Mixed fate for Hynix, Korea Express
Two heavyweight firms up for grabs on local M&A marketThe company boasts a healthy financial report card, and has long-term expertise in logistics as one of the nation’s first logistics firms ― it was established in 1930. No one for Hynix Hynix, due to its heavy dependence on research and technology, is considered a business that is not as lucrative as expected because of the capital it is forced
May 19, 2011