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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Man arrested for extorting money from Samsung Electronics
Samsung Electonics 3D booth at CES in 2011. (Bloomberg)A Seoul man has been arrested on charges of extorting a large sum from Samsung Electronics after intentionally destroying a Samsung cellphone last year, police said Thursday.The 29-year-old man, identified only as Lee, is accused of distorting a compensation of 5 million won (US$4,500) from Samsung Electronics after intentionally destroying hi
Jan. 21, 2011
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Daewoo cars history as GM Korea switches to Chevrolet
The Korean unit of General Motors plans to remove the badge of “Daewoo” from its company name and new domestic releases as it seeks to improve image and boost sales. GM Daewoo Auto and Technology Co. announced Thursday it will change its name to GM Korea Company and replace the GM Daewoo brand with the Chevrolet brand.“The actions we are about to take will take the company to a stronger, sustainab
Jan. 20, 2011
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Facebook agrees to improve data protection for Koreans
The state media regulator Korea Communications Commission said Thursday that the U.S.-based social networking site Facebook agreed to improve its individual information protection measures for Korean users.The KCC said that Facebook stated that it will devise separate measures which follow the country’s information and telecommunications law by the end of March.The event takes place after the stat
Jan. 20, 2011
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KT targets W20.5tr in sales
Carrier to invest 3 trillion won to boost service quality, global presenceKT Corp. said Thursday it plans to record 20.5 trillion won ($18 billion) in sales and spend 3 trillion won in investments this year to boost its service quality and step up its presence in global markets.KT, the exclusively provider of Apple’s iPhone in Korea, also said that it aims to reach 30 trillion won in sales by 2015
Jan. 20, 2011
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Antitrust regulator probes refineries
Move prompted by Lee’s comments on oil pricesThe antitrust regulator is investigating four major oil refiners for possible price rigging and cartel activities, sources said Thursday.The probe comes amid growing government pressure on them over surging fuel prices. The Fair Trade Commission this week conducted on-site investigations of GS Caltex, S-Oil, Hyundai Oil Bank and SK Energy to see if ther
Jan. 20, 2011
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Korea‘s technology level 5.4 years behind U.S.'
Korea’s technology level in 95 key areas is 5.4 years behind that of the United States, a government report showed Thursday.The report by the Ministry of Education, Science and Technology showed the country‘s technological prowess standing at 60.2 percent of so-called ultimate technology, or the highest possible technological level that can be reached at present with 100 percent being the highest
Jan. 20, 2011
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Mobile payments coming to Starbucks
WASHINGTON (AFP) ― U.S. coffee chain Starbucks on Wednesday began allowing customers in its U.S. stores to keep their cash and credit cards in their wallets and pay for their drinks with mobile phones.Starbucks said the mobile payment system, which has been tested in selected cities since last year, was being expanded to the nearly 6,800 Starbucks around the country and the more than 1,000 Starbuc
Jan. 20, 2011
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Hyundai, Kia make early payments to suppliers
Hyundai Motor Co. and Kia Motors Corp. announced Thursday that about 850 billion won ($760 million) owed to suppliers will be paid ahead of the due dates.The carmakers said that the payments will be made starting Jan. 26 to ease suppliers’ cash flow ahead of Seollal, or the New Year according to the lunar calendar. According to the carmakers, about 1,200 companies supplying parts and materials wil
Jan. 20, 2011
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POSCO finalizes ferrochrome deal with Indian firm
POSCO announced Thursday that it finalized a deal to establish a joint venture producing ferrochrome with an Indian company.Ferrochrome is an alloy of chromium and iron used in stainless steel production. POSCO’s partner in the venture is Indian Metals and Ferro Alloys (IMFA), India’s biggest ferrochrome manufacturer. According to POSCO, Thursday’s deal finalizes agreements regarding a joint ventu
Jan. 20, 2011
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Meat imports to climb on foot-and-mouth cull
Pork and beef imports by Korea, the sixth-biggest buyer of U.S. pork in 2009, may climb this year as the nation culls swine and cattle to fight its worst outbreak of foot-and-mouth disease, an industry group said. Pork imports may jump 15 percent to 20 percent from about 179,500 metric tons in 2010, said Choi Jong Sun, chairman of the Korea Meat Import Association. Beef purchases may also gain as
Jan. 20, 2011
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Etihad Airways sees rising travel demand
Korea unit chief says emerging markets will drive growth in demandEtihad Airways, a national airline of the United Arab Emirates, is confident that the growth of the middle class in emerging markets and booming industrial projects in the Middle East will lure more travelers to the region.As one of the fastest-growing international carriers,the airline has expanded services to 66 destinations acros
Jan. 20, 2011
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3D technology, here to stay
By Kim Ji-hyun The recent success of the Hollywood blockbuster “Avatar” triggered a stream of 3D films meaning that moviegoers are now often seen in theaters armed with special 3D glasses as well as popcorn. Reflecting the growing popularity, IT companies from home and abroad unleashed jumbo-sized 3D TVs with enthusiasm at the Consumer Electronics Show held in Las Vegas during the second week of t
Jan. 20, 2011
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GM introduces new name, brand for S. Korean unit
Dan Akerson, Chief Executive of General Motors Co. (GM), unveils the Chevrolet Sonic at the 2011 North America International Auto Show (NAIAS) in Detroit, the United States, on Jan. 10, 2011. (Xinhua-Yonhap News)U.S.-based global automaker General Motors Co. (GM) on Thursday introduced a new name for its South Korean unit and brought internationally renowned brand Chevrolet to boost the company's
Jan. 20, 2011
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Boeing interested in KAI going public in June
A top executive of Boeing Korea said Wednesday the global aircraft builder is planning to make a second bid to provide the presidential airplane after its failure last year. “Providing presidential airplane is very important to Boeing,” Pat Gaines, president of Boeing Korea, told reporters during a press conference in downtown Seoul. Pat Gaines, president of Boeing KoreaThe statement comes as Boe
Jan. 19, 2011
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Twitter introduces new services for Koreans
Twitter Inc. introduced two new services for Koreans on Wednesday, seeking to gain greater influence in a nation with an advanced communications infrastructure and one of the most active Internet populations.In a press conference in Seoul, Twitter co-founder Evan Williams said Twitter has opened its website in the Korean language Wednesday.Twitter has also formed partnerships with local companies
Jan. 19, 2011
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Hyundai Heavy wins W1.14tr drillship contract
Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to build two drillships for 1.14 trillion won ($1.03 billion) for the U.S.-based contract driller for gas Noble Drilling.Drillships are specialized vessels fitted with drilling equipment used in gas and oil exploration in offshore locations. With the latest contract, Hyundai Heavy has been awarded all three contracts for dr
Jan. 19, 2011
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Hyundai Heavy rehires retirees to stem skills shortage
Korean firms strive to tackle shortages of trained workers due to demographic changeA rapidly aging population poses a grave challenge to Korean manufacturers, which have seen a large number of skilled workers retire. Hyundai Heavy Industries, the world’s largest shipyard, is suffering most from the trend. A record number of 950 reached retirement age last year. The numbers are estimated to be 800
Jan. 19, 2011
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LG Uplus officially begins ...mobile office support for SMEs
LG Uplus, the country’s smallest mobile carrier, said Tuesday that it will officially begin providing mobile office support for small and mid-sized firms.In a joint effort with Microsoft, the company will use the global firm’s software platforms and cloud services like Software as a Service in a bid to jump into the local mobile office market.This comes after LG Uplus and Microsoft formed a strate
Jan. 19, 2011
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Korea scrambles to cut electricity use
Consumption soars to record amid deep chill, fueling power shortage concernsThe government is introducing a series of contingency measures to cut power consumption as the cold spell drives up electricity demand to record levels.With the cold snap gripping the nation, even in the warmer southern regions, electricity demand has shot up, setting new records three times already this month.On Monday, t
Jan. 19, 2011
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Whistleblower hands WikiLeaks offshore bank secrets
LONDON (AFP) ― WikiLeaks founder Julian Assange vowed to publish secret details of offshore accounts after a Swiss banking whistleblower handed over data Monday on 2,000 purportedly tax-dodging individuals and firms.Former Swiss banker Rudolf Elmer, who worked for eight years in the Cayman Islands, a renowned offshore tax haven in the Caribbean, personally gave Assange two CDs of data at a London
Jan. 18, 2011