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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SDI agrees to pay US$32 mln in fines for price fixing conspiracy: Justice Dept.
WASHINGTON (Yonhap) -- South Korea's Samsung SDI Co. has agreed to pay US$32 million in fines for trying to fix the prices of color display tubes used for computer monitors, the Justice Department said Friday. "Samsung SDI Company Ltd. has agreed to plead guilty and to pay a $32 million criminal fine for its role in a global conspiracy to fix prices, reduce output and allocate market shares o
March 19, 2011
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Samsung eyes record 2011 profit
Samsung Electronics Co. is aiming to set new records in annual operating profit and revenue this year though business conditions are expected to be unfavorable, its chief executive said Friday. Samsung, the world’s top memory chipmaker, posted an all-time high operating profit of 17 trillion won ($15 billion) in 2010. Its revenue also stood at a record high of 155 trillion won.“Market conditions i
March 18, 2011
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SC First Bank to close 27 branches
Standard Chartered First Bank Korea, the local unit of Britain-based Standard Chartered Group, said Friday it plans to close 27 branches in the nation by June to improve efficiency.Employees at the closed branches will be relocated to other operations, said the lender which operates 418 branches in the nation.“SC First Bank plans to cut 27 small branches in a bid to boost efficiency and diversify
March 18, 2011
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Hanwha opens U.S. solar research center
Hanwha Group said Friday that it has established a research center in Silicon Valley in the United States to develop next-generation solar energy technologies including solar cells.The establishment of Hanwha Solar America marks the group’s latest efforts to enhance its solar energy business. Its affiliate Hanwha Chemical Co. acquired 49.9 percent of Shanghai-based solar-products maker Solarfun Po
March 18, 2011
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Carmakers cutting output due to supply shortage
Some automakers in Korea are considering reducing their output due to a shortage of parts from their Japanese suppliers hit by last week’s powerful earthquake, company officials said Friday.Renault Samsung Motors Co., Renault SA’s Korean unit, will cut production at its Korean factory to prepare for a potential parts supply disruption the company said. The carmaker will cut overtime work at its fa
March 18, 2011
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Korea to tighten quake rules on small buildings
Korea is seeking to tighten its construction code for smaller buildings in order to better protect them from massive earthquakes, the land and transportation ministry said Friday.The move comes as concerns are growing that Korea might not be immune from massive earthquakes like the one that hit Japan last week. Experts are also calling for the government to step up its efforts to better brace for
March 18, 2011
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NASA spacecraft now circling Mercury _ a first
WASHINGTON (AP) _ For the first time, Earth has a regular orbiting eye-in-the-sky spying on the solar system's smallest and strangest planet, Mercury.NASA's spacecraft called Messenger successfully veered into a pinpoint orbit Thursday night after a 6 1/2-year trip and 4.9 billion miles (7.9 billion kilometers) and tricky maneuvering to fend off the gravitational pull of the sun. It is the fifth p
March 18, 2011
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Samsung eyes record operating profit in 2011
South Korean tech giant Samsung Electronics Co. said Friday that it aims to post a record operating profit for the whole of 2011 by cementing its leadership in existing businesses. "Competition among companies will intensify this year but we will try to extend revenue growth from last year and post a record-high operating profit," Choi Gee-sung, Samsung's chief executive officer, said in a stat
March 18, 2011
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Smaller companies hit harder by crisis in Japan
Korea’s small- and medium-sized exporters are struggling with delayed payments and a drop in orders from their Japanese partners whose operations were disrupted by the massive quake and tsunami last week.Government bodies and banks are stepping up financial assistance for such firms and trade agencies are operating emergency teams to closely monitor the extent of the damage. The powerful 9.0-magni
March 17, 2011
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Passengers using budget carriers jump over 30%
The number of people who used Korea’s budget carriers jumped over 30 percent on-year in the first two months of the year as more people chose cheap fares for domestic flights, the transportation ministry said Thursday.According to the Ministry of Land, Transport and Maritime Affairs, passengers who used budget carriers totaled 1.45 million in the January-February period, up 31 percent from a year
March 17, 2011
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LG enters digital magazine ad market
By Kim Ji-hyunLG Uplus on Thursday said it has developed an exclusive application, which allows users to read magazines in their original paper format on tablet PCs, to signal its entry into the digital magazine advertisement market. The application is accessible from both Android and Apple operating systems running on tablets such as Galaxy Tabs and iPads so that publishers won’t have to create s
March 17, 2011
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Food prices feared to surge further
Wholesalers paying more for food, suggest higher grocery prices yet to come at storesWASHINGTON (AP) ― Americans are noticing higher prices at the grocery store, and it’s about to get worse.Food prices at the wholesale level rose last month by the most in 36 years. Cold weather accounted for most of it, forcing stores and restaurants to pay more for green peppers, lettuce and other vegetables, but
March 17, 2011
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Sales at discount outlets plunge in Feb.
Sales at the nation's major discount outlets fell sharply in February mainly due to a drop in consumer demand following the Lunar New Year's holiday, a government report showed Thursday.E-Mart (The Korea Herald) Total sales at the three leading discount outlets contracted 10.9 percent on-year last month, compared with a 21.4 percent surge reported in the previous month, the Ministry of Knowledg
March 17, 2011
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[Herald Interview] Ssangyong looks to brighter future with Mahindra
After return to profit in 2010, carmaker hopes new models bring growth and stabilityWith its takeover by Mahindra and Mahindra Ltd. now complete, troubled carmaker Ssangyong Motor Co. is hoping to strengthen its product lineup, expand into new markets and rebuild its reputation. “Ssangyong caused much trouble for Korea, and to do this (revive the company) creditors and others involved had to make
March 17, 2011
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Japan disaster another worry for global economy
Japan’s earthquake and nuclear crisis have put pressure on the already fragile global economy, squeezed supplies of goods from computer chips to auto parts and raised fears of higher interest rates.The disaster frightened financial markets in Tokyo and on Wall Street on Tuesday. Japan’s Nikkei average lost 10 percent, and the Dow Jones industrials fell so quickly after the opening bell that the st
March 16, 2011
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LG Group to enhance R&D
LG Group will beef up its research and development efforts focusing on energy, displays, home electronics and health care, the country’s fourth largest business group said Wednesday.LG will increase its researchers and R&D budget by about 25 percent to about 3,100 and to 4.7 trillion won ($4.1 billion) this year, it said. About 5,000 of 9,000 new recruits would be allocated to R&D sections.“We wil
March 16, 2011
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Samsung dilutes Lee’s remarks
Samsung on Wednesday rushed to once again water down Samsung Electronics Chairman Lee Kun-hee’s recent remarks that appeared to be critical of government policies, saying that his comments did not reflect his true intentions. Kim Soon-taek, chief of Samsung’s strategic planning unit, told a weekly CEO meeting that the chairman was “disturbed because what he said was not what he meant.” Kim also sa
March 16, 2011
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Firms not pulling out of Japan... despite spreading fears
Companies vow not to abandon Japan, but families question decisionKorean companies with offices in Japan on Wednesday said they would not withdraw their employees despite the massive earthquake and tsunami that has reportedly left more than 10,000 people dead or missing. The firms, which mostly have offices and operations in Tokyo, said their decision to stay was based on the belief that they shou
March 16, 2011
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Hanwha E&C wins $220 million Kuwait contract
Hanwha Engineering and Construction Co. has won a $220 million refinery facility contract in Kuwait.Under the deal signed Monday, the company will update fire detection and alarm systems at three refinery facilities near Kuwait City, and two office buildings, the company said.The project, issued by the state-run Kuwait National Petroleum Co., is to be completed in 30 months, the builder said.“The
March 16, 2011
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Kia bags two top design awards
Kia Motors Corp.’s midsized sedan K5 and the compact SUV Sportage R are to receive the top prizes in this year’s Red Dot Design Award, the carmaker announced Tuesday.According to Kia, this is the first time Korean automobiles have been selected to receive the top honors in the German design award. K5 (top) and Sportage RThe K5 has been selected as the Best of the Best award winner in the automobil
March 15, 2011