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Russian ambassador to N. Korea hosts reception to mark diplomatic ties
Biden proposes holding trilateral summit this year
Han Kang speaks up on Nobel Prize, thanks ‘enormous wave’ of blessing
No South Korean military drone entered Pyongyang skies: JCS
Yoon returns home from 3-nation Southeast Asia trip
Son Heung-min's father ordered to pay fine for child abuse
S. Korea stages 1st live-fire drills of Taurus missile in 7 years
'Heavy Snow,' Han So-hee's big screen debut, examines stereotypes of beauty
Former Ador CEO gains ground in legal battle with Hybe, as whistleblower reveals plagiarism evidence
Early voting begins for Seoul education superintendent by-election with low turnout
Aunt sentenced to 15 years for throwing 11-month-old nephew from high-rise apartment
Han Kang declines press conference, not to celebrate, citing global wars
Warehouse manager arrested for stealing W6.8b in cash from storage
North Korean man crosses sea boundary to escape to South
Spain lauds stronger ties with S. Korea on National Day
Aston Martin seeks bigger footing in Korean luxury car market
Novelist Han Seung-won says daughter's historic Nobel win feels surreal
[Today’s K-pop] Riize’s Seunghan to rejoin next month
Han Kang: From blacklist to Nobel laureate
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Aramco to acquire S-Oil stocks from Hanjin Group
Jul 3, 2014
Khalid A. Al-Falih, Saudi Aramco CEOAramco Overseas Company, the largest shareholder of S-Oil, said Thursday it would take over the 32 million shares of S-Oil from Hanjin Group in a move that highlights the firm’s commitment to South Korea. “This transaction underscores Saudi Aramco’s confidence in the Korean economy and its strategy to enhance its presence in the growing Asian markets and AOC’s commitment to S-Oil growth,” Khalid A. Al-Falih, Saudi Aramco president and CEO, said in a statement.
POSCO close to commercializing lithium extracting method
Jul 3, 2014
POSCO on Thursday said it was nearing commercialization of a new technology that can efficiently and quickly extract high-quality lithium directly from raw materials.The nation’s largest steelmaker said its Research Institute of Industrial Science and Technology has been perfecting the technology. Lithium is a key material in high-capacity rechargeable batteries used to power mobile phones, laptop computers and electric vehicles. Lately, a rise in the demand for environmentally friendly vehicles
Chinese business leaders to seal partnerships with Korean tycoons
Jul 2, 2014
Largest-ever business delegation from China to visit Korea
Hanwha forms team for Dow Chemical bid
Jul 2, 2014
Hanwha Chemical has accelerated its efforts to purchase the petrochemical division of Dow Chemical by establishing a task force to manage the process. The team is said to consist of Credit Suisse as an advisor and more than 20 Hanwha employees. Internationally acclaimed law firm Skadden, Arps, Slate, Meagher & Flom is also on the team, according to industry sources. If realized, the country’s ninthlargest business conglomerate by assets will pay around 3 trillion won ($2.9 billion) for the deal,
Conglomerates’ reliance on exports deepens in 2013
Jul 2, 2014
South Korean conglomerates’ dependence on overseas markets deepened last year, as they relied on exports for nearly half of their sales, data showed Wednesday.Out of the 1,445.6 trillion won ($1.43 trillion) in total sales, 48 percent, or 693.6 trillion won, came from exports, up 2.2 percent from 2012, according to CEO Score, a market researcher that tracks corporate management data. The data was based on an analysis of 1,451 firms belonging to 45 conglomerates. Domestic sales, on the other hand
Singapore Airlines offers discounts on tickets to Southeast Asia
Jul 2, 2014
Singapore Airlines on Tuesday announced sales on return air tickets to some Southeast Asian countries for travel between July 1 and Aug. 31.In a sale that will continue up until July 22, the airline has slashed the fares on tickets for routes between Korea and Singapore to 476,700 won ($472) from 650,000 won.This summer promotion offers return tickets to 15 summer vacation spots, including Kuala Lumpur, Bangkok, Kota Kinabalu, Phuket or Penang, from 622,600 won. Fares include taxes and surcharge
Hanjin sells off stake in S-Oil
Jul 2, 2014
Hanjin Group, the nation’s largest logistics conglomerate, announced on Wednesday that it sold off a 28.41 percent stake in S-Oil for 2 trillion won ($1.9 billion) to Saudi-based Aramco, the largest shareholder of the oil refinery. “The decision was made as part of the group’s capital-raising efforts to address its deteriorating financial health,’’ the group said in a press release. So far, the group has raised 3.6 trillion won of capital. The cash flow of Hanjin Group has been worsening since i
K-Glass to be unveiled in 2015
Jul 2, 2014
K-Glass, an electronic eyewear device developed by a team of South Korean researchers, is expected to be launched early next year, according to industry experts familiar with the matter. “We plan to commercialize K-Glass in a small quantity late this year or early next year,” said Yoo Hoi-jun, a professor at South Korea’s Korea Advanced Institute of Science and Technology University, in an interview with The Korea Herald. KAIST introduces the K-Glass, embedded with augmented reality technology.
Hyundai Oilbank to invest $2.9b in widening portfolio
Jul 1, 2014
Refinery eyes propylene products, carbon black, overseas energy projects
Samsung develops new SSD
Jul 1, 2014
Samsung Electronics’ 850 PRO solid state drive for personal computers. (Samsung Electronics)Samsung Electronics launched its consumer solid state drive powered by 3-D V-NAND 850 PROat the Samsung SSD Global Summit in Seoul on Tuesday. The company said it planned to launch the new SSD early this month in 53 countries including South Korea, the United States, China and Germany. This marks the first time Samsung has unveiled a consumer SSD powered by 3-D V-NAND following the launch of its enterpris
Trade surplus hits record high in 1st half
Jul 1, 2014
South Korea’s exports in the first half rose 2.6 percent on-year to $283.6 billion. Its imports moved up 2.7 percent to $263.3 billion, with the country’s trade surplus hitting $20.3 billion, the Ministry of Trade, Industry and Energy said in its monthly trade figure report. The surplus is the largest tallied for the first half, with the daily export average of $2.13 billion exceeding previous highs.It said economic revivals in the U.S. and EU fueled demand, with exports of information technolog
L’Oreal Korea names new chief
Jul 1, 2014
Yann Le BourdonL’Oreal Korea said Tuesday it has appointed Yann Le Bourdon, former general manager of L’Oreal Luxe Latin America, as its new president effective July 1. A graduate of CESEM Reims Management School in France as well as ESB Business School in Germany for international management, Le Bourdon has a 24-year international track record in global markets including France, Germany, Korea, Spain and Latin America, mainly working for L’Oreal Luxe. As general manager of L’Oreal Luxe in Korea
Hyundai Heavy wins $700m order from Malaysia
Jul 1, 2014
Hyundai Heavy Industries Co., the world‘s largest shipbuilder, said Tuesday it has obtained a $700 million order for two offshore natural gas platforms from Hess E&P Malaysia. Hyundai Heavy said work would begin this month for completion by the second half of 2016. The facilities will be installed at the Bergading offshore gas field, 150 kilometers northeast of Kota Bharu, the company said. “A series of offshore gas exploration is expected in the Southeast Asian region in the future, and the lat
Daewoo E&C wins largest hotel construction project in Korea
Jul 1, 2014
Daewoo Engineering and Construction said Tuesday that it won a 398.7 billion won ($394.1 million) order to build what will be the largest hotel complex in its home market.The complex will consist of three buildings on 14,798 square meters of land in Yongsan, central Seoul. It will have 1,730 rooms and four basement levels when completed.This will be 1.5 times larger than Lotte Hotel in downtown Seoul which operates 1,156 rooms. “This is the single largest civilian construction project to date in
Shinsegae opens ‘Gourmet Street’
Jul 1, 2014
Shinsegae Department Store opened “Gourmet Street” at its headquarters in central Seoul, presenting some of the best delicacies in the country. Famous restaurants such as Dean & Deluca cafe; Noodle Bar by Homurang; Maruteo, and Parc have been added. Relatively familiar restaurant brands including Sushi Bar; Chrystal Jade Express; Johnnie Rocket Burger; Crema di Montagna and Gongcha have also nestled into the area. Gourmet Street is part of Shinsegae’s grand renovation of the Food Market at the b
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Han Kang declines press conference, not to celebrate, citing global wars
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