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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LG starts 3-D StarCraft II league
LG Electronics on Sunday launched a special league tournament of “StarCraft II” in 3-D.The tournament to advertise the company’s 3-D panels started in Gwangju, and will move onto Incheon, Busan, Daegu and Daejeon, the electronics maker said.After the preliminary games, the final will be held in Seoul on May 18. LG Electronics said it will be installing its Cinema 3-D TVs in key points in all the c
May 2, 2011
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Korean car firms’ April sales rise on strong exports
Most local carmakers saw April sales rise by varying degrees from a year ago aided by increasing overseas sales.The only exception was Renault Samsung Motors Co., due to production cuts brought on by the parts shortage after the March 11 earthquake in Japan.However, the company resumed weekday production at normal levels on Monday, and plans to restart Saturday production from March 14.Last month,
May 2, 2011
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[News Focus] LH Corp. relocation move spurs controversy
Reports on the alleged selection of Jinju as site for head office anger Jeolla politicians, residentsAllegations that state-run land developer Korea Land & Housing Corp. headquarters in Gyeonggi Province would be relocated to Jinju, South Gyeongsang Province are prompting uproar from its rival region of North Jeolla Province.The news came on Sunday from a high-ranking ruling Grand National Party o
May 2, 2011
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Aekyung chief donates W3b to KAIST
Aekyung Group Chairwoman Chang Young-shin donated 3 billion won ($2.8 million) to the Korea Advanced Institute of Science and Technology, the company said on Monday. “Based on the belief that natural science and engineering is the way to reviving national competitiveness, we give this donation with hope that KAIST will increase its efforts to help foster intelligent young minds who will guide the
May 2, 2011
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All That Cruise readies Korea’s largest liner
Cruise ship operator All That Cruise announced Monday that it will begin operating cruise tours from January.The vessel, tentatively named the Hallyu Star, will be used on routes covering China, Japan and Southeast Asian destinations. Hallyu is a Korean word meaning “Korean wave” that refers to the popularity of Korean pop culture in other countries. While other Korea-based cruise operators have t
May 2, 2011
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‘Greentech’ to drive KEPCO’s growth
Energy company to invest 3 trillion won, aiming to reach global top fiveState-run Korea Electric Power Corp. said it is to spend 3.1 trillion won ($2.8 billion) to foster environmental technologies including carbon capture storage and smart grids as its fresh growth drivers. “Should KEPCO win in the global ‘green race’ with its challenges and aspirations for green growth, it would be able to lead
May 2, 2011
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Sony chiefs ‘sorry’ for security breach
Executives bow in apology for security breach in PlayStation Network online serviceTOKYO (AP) ― Sony executives bowed in apology Sunday for a security breach in the company’s PlayStation Network that compromised the personal data of some 77 million accounts on the online service.“We deeply apologize for the inconvenience we have caused,” said Kazuo Hirai, chief of Sony Corp.’s PlayStation video ga
May 2, 2011
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Package of tax, loan supports set for builders
Investors will also get tax benefitsThe government said Sunday it would extend tax benefits to real estate investors in the Seoul metropolitan area and widen financial support for local builders as a way of shoring up the sluggish housing market.In their joint statement, the Land Ministry, the Finance Ministry and the Financial Supervisory Commission said the government will urge banks to roll ove
May 1, 2011
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STX Group chairman targets global market
DALIAN, China ― On Friday, STX Group announced the “Vision 2020” at its shipyard in Dalian, China at an event celebrating the group’s 10th anniversary. The group hopes to become one of South Korea’s seven largest conglomerates with combined sales of 120 trillion won ($112 billion) by 2020.STX Group Kang Duk-soo, however, says that he has his eyes set on the global market. STX Group chairman Kang D
May 1, 2011
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Hyundai, Kia launch hybrid Sonata, K5
Hyundai Motor Group’s two carmakers Hyundai Motor Co. and Kia Motors Corp. are receiving orders for their first gasoline-hybrid electric vehicles from Monday.While the carmakers had introduced hybrid electric vehicles based on the compact cars Avante and Forte with liquefied natural gas-electric powertrain, the hybrid Sonata and K5 are their first gasoline-electric hybrids.The vehicles are fitted
May 1, 2011
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[Herald Interview] Woman’s touch puts Sempio on the map
In just a month, Sempio Foods has raised its target for the sales of “A Hundred Years” to 60 billion won ($55.9 million) by 50 percent after watching the bottles of citron vinegar fly off the shelves. Behind the smash hit is Suh Dong-soon. The 46-year-old director of marketing is the first female executive at the condiment maker in its 65 years in business. Sempio director of marketing Suh Dong-s
May 1, 2011
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Asiana lounge in Incheon named best in Asia-Pacific
Asiana Airlines said Sunday the company’s lounge in Incheon International Airport was picked as the best lounge in the Asia-Pacific region by Priority Pass.The country’s No. 2 air carrier said that its lounge, located on the third floor of the departure section at the airport, was named the Priority Pass lounge of the year in Asia-Pacific, after the group conducted an annual online vote. People r
May 1, 2011
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[News Focus] Doubts plague new ‘Cinderella’ law
Rule to limit access to video games likely hard to enforceThe National Assembly passed a controversial bill to ban teenagers from accessing online games midnight last Friday. But parliament is immediately facing criticism about the measure’s effectiveness. The law goes into effect in November. Critics are raising doubts about effectiveness as user information, such as the age of registered people
May 1, 2011
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China jails 14 in tainted milk case
BEIJING (AP) ― Chinese courts have sentenced 14 people to prison for producing or selling melamine-tainted milk powder, news reports said Saturday, highlighting Beijing’s struggle to stamp out rampant sales of phony or tainted food and medicine.Three years after use of melamine in infant formula killed six babies and prompted a shake-up of China’s dairy industry, authorities still are seizing tons
May 1, 2011
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Obama calls for end to oil firm tax breaks
Expecting soaring pump prices, U.S. keeps up push to end tax breaks for oil, gas companiesWASHINGTON (AP) ― President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry.“These tax giveaways aren’t right,” Obama said in his weekly radio and Internet address Saturday. “They aren’t smart. And
May 1, 2011
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Industries for smaller players to be chosen
A semi-government committee on mutual growth said it will select in August the industries conglomerates would be discouraged from entering or expanding in to give their smaller counterparts more opportunities.At their meeting in Seoul, the members, led by former Prime Minister Chung Un-chan, said for now, they have confirmed the selection guidelines and will be choosing the industries based on how
April 29, 2011
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STX Group sets sights on seventh-biggest spot
DALIAN, China ― STX Group aims to become one of South Korea’s seven largest conglomerates in terms of assets by 2020, the company announced in Dalian on Friday.The business group revealed its “Vision 2020” plan to coincide with the conglomerate’s 10 year anniversary event held in the Chinese city. Among other things, the plan calls for increasing the group’s annual sales to 120 trillion won ($112
April 29, 2011
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Samsung profit lowest in 7 quarters
World’s top memory chipmaker sees tough conditions in coming quarterSamsung Electronics Co. said Friday it logged 2.95 trillion won ($2.7 billion) in net profits for the first quarter of this year amid globally weak demand for flat panels and TVs sets. It is a 33 percent decline from the same period last year and it is the lowest operating profit in seven quarters.Its sales stood at 36.99 trillion
April 29, 2011
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Samsung Electronics Q1 net down 30% on weak TV, PC demand
Samsung Electronics Co., the world's top memory chip and liquid crystal display (LCD) panel maker, said Friday that its first-quarter earnings fell 30.3 percent on-year, hurt by weak demand for TVs and PCs that eroded component prices.Net profit reached 2.78 trillion won (US$2.59 billion) in the January-March period, compared with 3.99 trillion won during the same period a year earlier, the compan
April 29, 2011
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Hyundai Motor, Steel post strong first-quarter figures
Hyundai Motor Co.’s quarterly sales increased 21.4 percent from a year ago, while that of its affiliate Hyundai Steel rose to record levels.In a regulatory filing, Hyundai Motor revealed that its first quarter sales increased 21.4 percent compared to the same period last year to come in at 18.23 trillion won, while operating profits soared 45.6 percent over the same period to come in at more than
April 28, 2011