Most Popular
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Yoon's approval rating plunges to all-time low
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S. Korea votes in favor of Palestinian bid for UN membership
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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[Meet the CEO] Nespresso shapes Korean espresso culture
Nespresso is confident that booming enthusiasm for coffee among Koreans and the surging popularity of homemade espressos will continue to shore up its brisk sales growth in the market, the chief of Korean operations said.Since the coffee business unit of Swiss food giant Nestle launched its single-serve “coffee capsules” in December 2007, it has led the local portion coffee market which has been e
April 12, 2011
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Kakao Talk looks to overseas expansion
Popular mobile messenger service breaks threshold of 10 million downloadsKakao, a venture firm that invented the popular mobile messenger app Kakao Talk last year, announced Monday that it will branch out to overseas markets this year with the aim of garnering 100 million downloads.In a press conference celebrating more than 10 million registered Kakao Talk users, its founder Kim Beom-su said the
April 12, 2011
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Builders’ domestic orders tumble in Feb.
Domestic orders of Korean builders plunged 17 percent in February from a year earlier due to a prolonged slump in the local property market and a drop in orders from the public sector, a trade association said Monday. The local builders’ domestic orders came to 5.09 trillion won ($4.69 billion) in February, compared with 6.15 trillion won tallied a year earlier, the Construction Association of Kor
April 12, 2011
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3-D industry waiting for cue on adult content
The success of “Sex and Zen” is most likely to mark a watershed moment in the 3-D industry as the fate of adult movies seems to be hinging on the movie’s performance.“It’s a matter of time, but we are in dire need of some concrete evidence to accept that 3-D adult entertainment will take off in earnest,” said Han Dong-hoon, a spokesperson for N’tree Media, an adult-image content provider. “Sex and
April 11, 2011
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Foreigners make robust property gains
Foreign funds reap better returns than locals on real estate investmentsForeign funds have outperformed domestic institutions in terms of capital gains on real estate investments in Korea over the past decade, market researcher JUSTR said Monday. Foreign investment groups such as Lone Star Funds, Goldman Sachs and Government of Singapore Investment Corp. have recorded an average capital gain of 48
April 11, 2011
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Female entrepreneurs see old challenges, new successes in Korea
When Shim Yeo-lynn was replaced by her colleague with better English-speaking skills for a meeting with foreign clients, she did not just set out to hone her English skills. She founded a start-up herself.After hopping from one English prep school to another and taking a series of one-on-one lessons from native speakers, she realized that there was no service that teaches how to communicate in the
April 11, 2011
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Obama to announce new spending plan
WASHINGTON (AP) ― One budget deal down, President Barack Obama and Congress began to pivot Sunday from the painful standoff over this year’s spending to a pair of defining debates over the nation’s borrowing limit and the election-year budget.Much will be revealed at midweek, when the House and Senate are expected to vote on a budget for the remainder of this fiscal year and Obama reveals his plan
April 11, 2011
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Iceland rejects debt deal to repay U.K., Dutch
REYKJAVIK, Iceland (AP) ― Voters in Iceland rejected a government-backed deal to repay Britain and the Netherlands for their citizens’ $5 billion worth of deposits in a failed online bank, referendum results showed Sunday ― sending the dispute to an international court and plunging the economically fragile country into new uncertainty.Final results showed the “no” side had just under 60 percent of
April 11, 2011
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Hyundai Heavy completes world’s largest gas power plant
Hyundai Heavy Industries announced Sunday that it completed building the world’s largest gas-powered power station in Saudi Arabia.Located in Jubail in Eastern Saudi Arabia, the plant was built as part of a $2.7 billion contract for a power and desalination plant issued by the state-run utilities firm Marafiq in 2007. The contract was awarded to an international consortium composed of Hyundai Heav
April 10, 2011
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Korean firms seek ‘optimum’ bid for Brazil bullet train project
The South Korean consortium bidding for Brazil’s $20-billion high-speed rail service downplayed the impact of its recent loss of construction partners.The group said it is in talks with big-name constructors in Korea such as Hyundai Engineering and Construction and POSCO Engineering and Construction to form a new lineup before submitting its proposal. It is also contacting some large Brazilian con
April 10, 2011
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CJ Cheiljedang to invest W3tr on bio products
CJ Cheiljedang Corp. will spend three trillion won ($2.78 billion) by 2015 on building facilities and an R&D center to make bio products, the food maker said Friday. “We’re making investment into our Asia and North American market where we will invest about three trillion won,” it said. The investment may include building new factories or establishing strategic alliance with food companies abroad,
April 8, 2011
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Home prices, rents grow faster than income
In Korea, it takes more than a decade for the average salaried worker to buy his or her own house, as numerous surveys have shown over the years. But now it looks like renting homes has become equally trying, according to data released by a local property-information portal on Friday. Real Estate Bank said “jeonse” costs are surging as more people opt to rent homes instead of buying them, not to m
April 8, 2011
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N-Screen service becomes popular in one-person-multi-device era
Getting connected to the Web on a smartphone, while simultaneously watching a show on a smart TV is becoming a common scene for many people nowadays as the country enters a “one-person-multi-device era.”The number of people who own multiple smart gadgets ― such as smartphones, tablet PCs and smart TVs ― is rapidly increasing, pushing telecoms to introduce N-Screen (numerous screen) services which
April 8, 2011
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Shinsegae heir ready to tie the knot again?
Rumors fly over Shinsegae heir marriage plansBy Kim Ji-hyunChung Yong-jin, 42, vice chairman of Shinsegae Group, may be ready to tie the knot -- again -- this time with flutist Han Ji-hee, according to inside sources.Sources said that Han, 30, and Chung are making preparations for a wedding ceremony next month. Chung’s fiancee teaches at Sungshin Women’s University and has studied in Austria, Fran
April 8, 2011
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Samsung Electronics’ Q1 hit by LCD prices, tablet sales
The first quarter operating profit of Samsung Electronics, the world’s largest maker of TVs and flat-screen monitors, stood at 2.9 trillion won ($2.66 billion) to mark its smallest quarterly revenue in seven quarters after falling 34 percent from a year earlier, the company said on Thursday.Sales were at 37 trillion won, up 6.8 percent year-on-year, according to Samsung during an earnings guidance
April 7, 2011
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LG Uplus introduces wireless N-Screen service
LG Uplus said Thursday it introduced a wireless N-Screen service which enables sharing of data on multiple platforms for mobile phones, tablet PCs, televisions and personal computers.The company said people could easily use the service, dubbed “Uplus Shoot and Play,” by downloading the application on their devices without uploading content or making other inter-device connections.The service is cl
April 7, 2011
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Mobile carriers face price fixing probe
Korea’s three mobile service providers are being probed for illegal price fixing after a local civic group filed complaints with the state anti-trust regulator, business sources said.Sources said Fair Trade Commission inspectors carried out on-site inspections at SK Telecom, KT Corp. and LG Uplus on Wednesday, with emphasis placed on checking factory prices of smartphones and the possibility that
April 7, 2011
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[Herald Interview] Nestle hopes for more ties with Korean suppliers
Nestle S.A., the world’s largest food company, is seeking to boost its beverage and coffee machinery purchase from innovative Korean manufacturers, one of the firm’s high-ranking officials said Thursday. The firm saw the biggest potential of local companies in its leading technologies and dynamics, said Ruguo Hu, head of equipment & system of Nestle R&D Centre Shanghai. The Shanghai R&D center is
April 7, 2011
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KNOC spurs overseas resources development
State-run oil firm also seeks to diversify business to crude alternatives State-run Korea National Oil Corp. is stepping up overseas development projects and expanding its portfolio into alternative resources in bid to boost the country’s energy security. Korea, the world’s fifth-largest importer of crude oil, has been vulnerable to global oil price volatility and uncertainties in the market, espe
April 7, 2011
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Samsung puts Q1 operating profit at 2.9 tln won
Samsung Electronics Co., the world's top maker of memory chips, liquid crystal display (LCD) panels and TVs, estimated Thursday it had posted an operating profit of 2.9 trillion won (US$2.67 billion) for the January-March period. The preliminary estimate represents a 34.2 percent drop from an operating profit of 4.41 trillion won a year ago, Samsung said in a regulatory filing. It is also th
April 7, 2011