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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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Korea’s homegrown nanosatellite successfully launches into space
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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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GS EPS to build ‘green’ LNG plant
GS Electric and Power Services, a power subsidiary under GS Group, said Tuesday that it will build a “green” high-efficiency liquefied natural gas combined cycle power plant in Dangjin, South Chungcheong Province. The firm spent 460 billion won ($420 million) for the plant which will be completed by August 2013. GS EPS currently operates two other power facilities there.The firm held a groundbreak
April 19, 2011
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Global firms launch new cars at Shanghai show
HONG KONG (Yonhap News) ― China’s largest international auto show kicked off on Tuesday with major product launches by global carmakers, showing the growing significance of the world’s most populous country for the auto industry.Auto Shanghai 2011 began its 10-day run with press days scheduled for the first two days in the booming metropolis. The event will be open to the public from Thursday to A
April 19, 2011
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LG Chem, Samsung Engineering post Q1 gains
LG Group’s chemicals and electronics components maker posted first quarter sales of nearly 5.5 trillion won, a 24.1 percent increase compared to the same period last year. According to LG Chem’s first quarter figures released Tuesday, the company’s operating profits rose 28 percent to 835.3 billion won ($765 million), while net profits came in at 656.6 billion won, rising 26.8 percent.Much of the
April 19, 2011
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SKT claims success in tests of new telecoms technology
BUNDANG, Gyeonggi Province ― SK Telecom, the country’s top mobile carrier, tested the fourth generation telecommunications technology Long Term Evolution for the first time at its Bundang office on Tuesday.Aiming to commercialize the LTE technology in Seoul by July, the company will offer next generation telecommunications services which come with upgraded speed and picture quality.It will then ma
April 19, 2011
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LG Display chief eyes 3-D supremacy
Kwon shows confidence in company’s 70 percent market share by year-endLG Display’s chief executive Kwon Young-soo was unperturbed by the company’s lackluster first quarter performance, saying he was certain of the global dominance by year’s end of his firm’s new 3-D panel technology, the film-type patterned retarder. “I don’t believe our goal to achieve as much as 70 percent market share in the gl
April 19, 2011
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Samsung Engineering Q1 net jumps 74.3 pct
Samsung Engineering Co., South Korea's largest industrial plant builder, said Tuesday that its net profit jumped 74.3 percent in the first quarter from a year ago on reduced costs. Net profit came to 121.4 billion won (US$110.7 million) in the January-March period, compared with 69.6 billion won during the same period in 2010, Samsung Engineering said in a regulatory filing. Sales rose 67.1 percen
April 19, 2011
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World-OKTA pledges to offer 10,000 internships in foreign countries
The largest association of overseas-based Korean business leaders put forward an ambitious vision Monday to offer overseas internship positions for 10,000 young Korean adults as it celebrated its 30th anniversary with a pledge to expand the "business territory" of their homeland. The World Federation of Overseas Korean Traders Association, or World-OKTA, also vowed to take advantage of its deep-
April 18, 2011
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Franchisers to get leg-up in overseas expansion
South Korea is poised to lend greater support for the overseas expansion of 10 local franchise chains, including well-known names such as Mr. Pizza and Cafe Bene to help bolster service-related exports, the Ministry of Knowledge Economy said Monday. “Due to their standardized quality of products, service and stores, franchises are easy to globalize. Also, they are highly prospective exports driver
April 18, 2011
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LG Display registers quarterly loss
Flat-panel maker LG Display incurred a second-straight quarter operating loss during the January-March period on falling panel prices triggered by dormant demand, the company said in a regulatory filing Monday. Operating deficit for the first quarter of this year stood at 239.2 billion won ($219.2 million).The figure was narrowed from 387 billion won in the fourth quarter of 2010, but industry wat
April 18, 2011
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S. Korea not to raise FMD alert level despite new outbreak
South Korea will not raise its present foot-and-mouth disease alert level despite a fresh outbreak in the southeastern part of the country over the weekend, a government official said Monday.Deputy Farm Minister Lee Sang-kil said animals at the small farm in Yeongcheon, 344 kilometers from Seoul, were affected by the “type O” FMD virus that had devastated South Korea since November.The farm owner
April 18, 2011
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Renault, traffic body sign road safety pact
Renault Samsung Motors Co. and the Road Traffic Authority formed a partnership to collaborate on promoting road safety for children on Monday.Under the agreement, the carmaker and the state-run organization will collaborate in educating children about traffic safety, and establish a system for cooperation and mutual support in reducing traffic accidents involving children, Renault Samsung said.The
April 18, 2011
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Summer internship at Hyundai Motor
Hyundai Motor Co. is hiring interns for the summer.The internship is open to university students who are scheduled to graduate in February 2012.The company is receiving applications through its public relations homepage at pr.hyundai.com from Tuesday until May 2. Successful applicants will work for five weeks at the company’s local and overseas operations during the summer vacation. The company wi
April 18, 2011
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Hyundai Heavy’s deals rise to $9.2 billion
Hyundai Heavy Industries, the world’s largest shipyard, announced Monday that it won contracts for five vessels, worth 900 billion won ($826 million), pushing up the value of contracts won, including those awarded to its subsidiary Hyundai Samho Heavy Industries Co., this year to $9.2 billion.The figure accumulated so far this year is about 46 percent of the $19.8 billion target the company has se
April 18, 2011
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GM Korea road tests Volt electric car
GM Korea Co., the South Korean arm of U.S.-based GM, began testing its electric vehicle the Chevrolet Volt in Korea on the road on Monday.The week-long test drive will be conducted by the U.S. Embassy to Korea, with a specialist engineer from GM Korea.The vehicle will be used by the U.S. Embassy for official functions for one week until April 24. The Volt being tested by the embassy will also be u
April 18, 2011
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SK oil refiner unit seeks mutual growth overseas
Large-scale maintenance project in Vietnam involves three SK Energy Korean subcontractorsSK Energy, the refining unit under the nation’s largest oil refiner SK Innovation, said Monday that it helped its subcontractors launch an overseas project in Vietnam as part of its efforts for promoting “shared growth.” Three partner firms ― JCon Corp., UBEC Inc and Daechang HRSG Corp. ― will carry out the re
April 18, 2011
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Google, Twitter on Samsung fridges
Samsung Electronics Co. said Monday that it will roll out new refrigerators in the U.S. market this month with a flat screen that displays services from Twitter Inc., Google Inc. and the latest news from The Associated Press. The company will release two new side-by-side fridges with an 8-inch touchscreen that displays short-message updates from Twitter and Google as well as news and weather infor
April 18, 2011
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KEPCO prize to honor research
State-run Korea Electric Power Corp. said Monday that it will launch a 200 million won ($180,000)-prize to acknowledge distinguished energy-related research. The biennial KEPCO Research Grand Prix, being introduced to mark the firm’s 50th anniversary this year, is aimed at encouraging and supporting the works of local researchers and academics, KEPCO officials said. Full university professors at r
April 18, 2011
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KCSC considers app filters to protect underage users
The authorities may introduce measures to limit underage smartphone users’ access to applications stores, sources said Monday.The Korea Communications Standards Commission is considering adding software to smartphones to limit access to adult content available in application stores, or setting up separate applications stores according to the content provided.While smartphone applications have grow
April 18, 2011
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Automakers unveil new models at China show
Global carmakers rolling out new SUVs, luxury sedans and concept cars at auto showHONG KONG (AP) ― Global automakers are bringing their flashiest SUVs, luxury sedans and electric concept cars to Auto Shanghai, China’s biggest auto show of the year, as the industry reels from disruptions caused by the massive earthquake and tsunami in Japan last month.The show has become one of the industry’s most
April 18, 2011
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Conglomerates step up efforts on ‘shared growth’
Local conglomerates are boosting their efforts to support subcontractors in line with the government-led “mutual growth” drive. The Lee Myung-bak administration has been keenly advocating shared prosperity between conglomerates and their smaller partners, urging the bigger firms to take the lead to help create a level playing field.With the launch of Commission of Shared Growth for Large and Small
April 17, 2011