Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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Shares gain on Spain, China optimism
South Korean stocks advanced 0.38 percent Friday as investor sentiment got a boost from Spain’s pledge to cut spending and rising expectations for Chinese stimulus, analysts said. The local currency strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 7.53 points to 1,996.23. Trading volume was moderate at 668.4 million shares worth 4.85 trillion won ($4.36 billion) with gainers outpacing decliners 492 to 302. “Spain’s budget plan implies it is moving tow
Sept. 28, 2012
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Hyundai Heavy revives bidding war for KAI
The bidding war over the nation’s sole aircraft maker Korea Aerospace Industries is gaining fresh momentum, with Hyundai Heavy Industries unexpectedly joining the race on Thursday. Industry watchers had widely expected that Korean Air would become the sole bidder to acquire a 41.75-percent stake in KAI after the first bid last month failed to draw bidders other than the nation’s largest flag carrier. Now two competitors meet the legal conditions for a valid competition to continue the bidding pr
IndustrySept. 28, 2012
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KCC to ramp up monitoring of illegal Internet postings
The Korea Communications Commission announced Friday a series of preventive measures on the online real-name system Friday, saying that it will double monitoring of illegal Internet postings to twice a week.Following a meeting arranged by the Prime Minister’s Office, the commission said it will also publicize the current state of illegal postings and its countermeasures put in place by the Internet operators.It also said the law that currently states the online service provider’s responsibility
Sept. 28, 2012
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Woongjin paid own debt before crisis
Woongjin Group is facing public criticism for moral hazard after its holding company and construction unit filed for court receivership on Wednesday. A day before its application for court protection, Woongjin Holdings was found to have paid back 53 billion won of debt it borrowed from other Woongjin affiliates.Woongjin Holdings repaid 25 billion won and 28 billion won, respectively, to its sister companies Woongjin Thinkbig and Woongjin Energy on Wednesday even though the due date was two days
IndustrySept. 28, 2012
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Chanel returns to Lotte in time for Chinese holiday
Chanel cosmetics agreed to reopen at Lotte Department Store’s main branch in downtown Seoul next week, three years and nine months after it stormed out in fury, grabbing media attention as a catfight between a domestic retail mammoth and a “stuck-up” luxury brand.Lotte asked Chanel to downsize and relocate its cosmetics booth in 2008, pointing to its relatively low sales. The French brand refused, accusing Lotte of getting back at it for entering rival Shinsegae’s new store in Busan. The brand m
Sept. 28, 2012
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Samsung joins hands with Swiss chip firm
World’s largest memory chipmaker Samsung Electronics Co. said Friday that it has forged a business tie-up with a Swiss semiconductor solution firm in promoting their foundry business.Samsung said that it has cooperated with STMicroelectronics N.V. in developing the 32 and 28-nano chip technology, and will continue the bilateral cooperation.Geneva-based STMicroelectronics is the seventh-largest chipmaker that designs, develops and manufactures semiconductor products used in various electronic dev
TechnologySept. 28, 2012
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CEOs rush for receivership to save own skin
Filings for court’s bankruptcy protection rise sharply after law revision in 2006The number of companies filing for court receivership has increased 10-fold in the last five years, raising questions over whether CEOs did it to save their own necks while incurring losses for creditors, investors and customers.Seven-hundred-and-twelve companies filed for court receivership last year, up from 76 in 2006 when the bankruptcy law was revised to guarantee major shareholders’ management rights and great
Sept. 28, 2012
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Popular mobile game developer prepares a special event
Mobile puzzle game “Anipang” is winning tremendous popularity from Korean smartphone users based on the 60 million subscribers through instant messenger Kakao Talk.Anipang, which can be played via Kakao Talk’s mobile gaming platform “Kakao Game Center,” recorded 15 million downloads and 8 million daily users in 2 months since its release.The puzzle game features a system in which users have to align three or more animal figures such as rabbits and cats within 60 seconds. In the game, the users a
TechnologySept. 28, 2012
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Samsung retains No. 1 spot in world handset market in Aug.
South Korean tech giant Samsung Electronics Co. retained the top spot in the global mobile phone market in August on the back of steady sales of its products worldwide, industry data showed Friday.According to the data released by Hong Kong-based Counterpoint Technology Market Research, Samsung topped the world's handset market last month with a market share of 29 percent.The research firm attribu
IndustrySept. 28, 2012
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Volcano in N. Korea showing signs of activity
A volcano on the border of China and North Korea is showing signs of increasing activity and could erupt in the next few decades, Chinese researchers say.A massive eruption of Baekdusan around 1,100 years ago spread ash and volcanic gases for 30 miles and left a 3-mile-wide crater atop the volcano, scientists said.Three smaller eruptions have occurred since then, the most recent in 1903, they said.Seismic activity, ground deformation and gas emissions recorded in a period of heightened activity
TechnologySept. 28, 2012
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Mars rover Curiosity finds signs of ancient stream
This image provided by NASA shows shows a Martian rock outcrop near the landing site of the rover Curiosity thought to be the site of an ancient streambed, next to similar rocks shown on earth. (AP-Yonhap News)The NASA rover Curiosity has beamed back pictures of bedrock that suggest a fast-moving stream, possibly waist-deep, once flowed on Mars _ a find that the mission's chief scientist called ex
TechnologySept. 28, 2012
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Woongjin Group crisis spooks market
The financial woes gripping Woongjin Group are expected to send ripples through Korea as yet another seemingly sturdy enterprise appears to be teetering on the cusp of bankruptcy. “It was a shock, a pure shock. I could not believe it because from all I’ve seen in ads, commercials and the news, Woongjin seemed to me as invincible. The company was literally a legend or at least one of the most fantastic success stories I know because it was built by a man who started out an ordinary salaried worke
IndustrySept. 27, 2012
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[Newsmaker] Once success story, founder of Woongjin in grave crisis
Everything Yoon Seok-keum touched seemed to turn to gold. He was a man who in just three decades, built a 6 trillion won ($5.3 billion) empire from the ground up, armed with nothing but a few good men and a natural gift for sales.But whether this success story will have a happy ending has become uncertain; Yoon’s company, Woongjin Group, recently filed for court receivership in a desperate bid to prevent a spreading bankruptcy after the group’s construction arm, Kukdong Construction, went down t
IndustrySept. 27, 2012
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China boasts prowess amid territorial disputes
China is revealing a show of confidence as it deals with a territorial dispute involving a group of islands known as Senkaku in Japan and Diaoyu in China. The country’s hard-line responses to Japan’s claims of ownership may be lined with the confidence that its national power overtakes Japan as the world’s second-largest economy.The average Japanese person is much richer than the average Chinese person, but various economic indicators show that China overwhelming outperforms Japan. By Park Min-y
Sept. 27, 2012
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Pioneer in wastewater treatment
Search for better solutions drives Boo-Kang Tech into a global playerThe Korea Herald, in collaboration with the Korea Environmental Industry & Technology Institute, is presenting a series of articles introducing small but promising environmental tech firms. The following is the fourth installment. ― Ed. Every challenge is an opportunity for growth. Or so many CEOs have preached to their staff. Yet, this overused, hackneyed saying best captures the essence of what made Boo-Kang Tech Co., or BKT,
CompaniesSept. 27, 2012
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Quantum Energy Co. eyes global markets
Quantum Energy Co. manufactures quilts, pads, pillow sets and other fabric-related products. But it is no ordinary textile firm: The Gyeonggi Province-based company aims to pioneer a new market with a substance that it claims generates quantum energy.The company has developed powder and cream-type substances by grinding the natural ore called Five-Colored Earth, mixing it with water and ripening the mix. The new material created through the process generates quantum energy.The company has develo
Sept. 27, 2012
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Tips for safe, injury-free hiking
Autumn is a perfect season for hiking and mountain climbing, with crisp and cool weather and colorful foliage. Yet, it is also peak time for hiking-related injuries, which can be life-threatening. According to the National Emergency Management Agency, of the 7,826 mountain accidents reported last year, more than a quarter were concentrated in two autumn months ― September and October. Although not as serious as to require a mountain rescue team, some hikers experience considerable pain and soren
TechnologySept. 27, 2012
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Growing pain
1. What is growing pain?Growing pain refers to the intermittent and uncomfortable pain in the muscles of the lower limbs in children. It usually affects both legs and causes the greatest pain in the front of the thighs, calves, the back of the knees and sometimes the buttocks. The pain is usually localized to a deep part of the limb and does not affect the whole limb. In older children who can describe the pain in more detail, it is said to feel like spasms of the legs, or a tingling feeling. Ty
TechnologySept. 27, 2012
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Shares gain on institutional buying
South Korean stocks rose 0.42 percent Thursday as institutional investors shook off market jitters and scooped up local shares, analysts said. The local currency gathered ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index added 8.26 points to close at 1,988.70. Trading volume was moderate at 686.6 million shares worth 4.65 trillion won ($4.15 billion) with gainers outstripping decliners 419 to 384. “Institutions led by pension funds seem to have been providing a shie
Sept. 27, 2012
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Hyundai Heavy Industries, Korean Air vie for KAI
Hyundai Heavy Industries has joined in the bidding competition to take over Korea Aerospace Industries, the nation’s sole aircraft manufacturer.While it had been widely expected that Korean Air would be the sole bidder, Hyundai Heavy, one of the nation’s 10 largest conglomerates, entered its bid to the state-run Korea Finance Corp. on Thursday.The Korea Finance Corp. holds a 26.41 percent stake in KAI as the largest shareholder. The state-run financier and three other major shareholders are movi
IndustrySept. 27, 2012