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Daewoo Shipbuilding to employ, train high school graduates

Sept 8, 2011

Daewoo Shipbuilding and Marine Engineering Co. announced Thursday it will set up an institute for training high school graduates. The company said that the institution, which will be headed by the company’s chief technology officer Lee Yeong-man, will put high school graduates through a four-year training program for developing expertise in various heavy industry-related fields. The shipbuilder ...
Daewoo International buys Indonesia palm oil firm

Sept 8, 2011

Daewoo International Corp., the country’s largest grain trader, announced Thursday it has acquired an 85 percent stake in an Indonesian palm oil producer, upping the ante for its overseas agricultural business. Through the 57 billion won ($53 million) deal with PT. Bio Inti Agrindo, Daewoo plans to cultivate a 36,000-hectare farm in Papua, the largest and easternmost province of Indonesia. The ...
SK E&C ships world’s largest crude column

Sept 8, 2011

SK Engineering and Construction Co. announced Thursday that it shipped the largest ever crude column to the United Arab Emirates on Wednesday. A crude column is an essential part of a refinery that is used to separate different fuels from heated crude oil, the company said. The company said that it loaded the 1,261 metric ton, 93.3 meter-long crude column onto a ship bound for Abu Dhabi port wh...
New rules to prop up small SI firms

Sept 8, 2011

Korea considers banning corporate affiliates from public projects The government is considering banning system integration companies affiliated with conglomerates from competing for public sector SI projects for fear of stamping out the smaller players, the Ministry of Knowledge Economy said on Thursday. The move comes amid criticism that these companies receive “perks” from their conglomerate ...
Foreign luxury brands slow to ‘give back’

Sept 8, 2011

Foreign luxury brands have seen their sales in Korea almost triple in recent years but they were stingy in giving back to society, research found Thursday. The Korea sales of the top 15 foreign high-end brands jumped from 1.42 trillion won ($1.32 billion) in 2005 to 3.87 trillion won last year, said Chaebul.com, an online portal following the activities of larger companies. Capitalizing on Kore...
Korea puts off plan to raise limit on duty free shopping

Sept 8, 2011

The nation’s customs agency on Thursday again put off raising the limit on the duty free allowance for travelers coming from overseas, citing economic uncertainties inside and outside of the country. Under the current law, Korean travelers are required to report their overseas purchases in excess of $400, an amount fixed in 1996. Among 32 OECD countries, South Korea has the third-lowest duty fr...
[News Focus] 3-D display technology to meet transition era

Sept 8, 2011

“I heard Samsung will adopt the passive 3-D display technology although it will be different from the FPR technology supported by LG,” he said. “Samsung will not be able to follow the exact tracks of LG, but it will present technology improved from its current shutter glass method.” A Samsung spokesman strongly denied the statement but its ties with a U.S. firm shows that it already seems to be...
[Herald Interview] Standards body keen on Korea’s smart grids

Sept 8, 2011

Korea’s growing technological prowess and the business community’s brisk participation in standardization works will help expand global markets for smart grids, executives of the Institute of Electrical & Electronics Engineers’ Standards Association said. The standards body is a unit within the IEEE, the world’s largest professional association for the advancement of technology. The U.S.-based n...
Personal data of 800,000 Samsung Card customers may have been leaked

Sept 8, 2011

Samsung Card Co., South Korea's leading card firm, is suspected of having come under an online security breach that could have leaked about 800,000 customers' personal data, sources said Thursday. Samsung Card has asked the police to investigate an employee regarding the suspected leakage of customer data, including their names and mobile phone numbers. Sources said Samsung Card submitted to th...
Global luxury brands stingy on donations in Korea: data

Sept 8, 2011

Global luxury goods makers have raked in huge profits in South Korea over the past few years on the back of surging demand, but they have not been generous in making social contributions, data showed Thursday. The combined revenue of 15 global luxury makers in South Korea, including a local unit of the world's top luxury goods maker LVMH Moet Hennessy Louis Vuitton SA, reached 3.9 trillion won (...
Actions speak louder than words in nation-branding

Sept 7, 2011

Following is the first in a series of interviews with world’s top designers and scholars who will participate in the Herald Design Forum in Seoul from Oct. 5 to Oct. 6. ― Ed. Korea must seek to improve its image through actions, and not words, nation-branding specialist Simon Anholt says. Anholt, who coined the term “nation brand” in 1998, is one of the world’s foremost experts in nation-brandi...
Preparations in full gear for iDEA Herald Design Forum

Sept 7, 2011

Global forum will be held Oct. 5-6 with participating global companies, designers and students With less than a month to go, organizers have begun preparing in earnest for the iDEA Herald Design Forum to ensure the successful hosting of the first forum of its kind in Korea to open in Seoul on Oct. 5. The forum organized by Herald Media will last two days at the Shilla Hotel, central Seoul, with...
Hyundai, Kia top U.S. compact CUV market

Sept 7, 2011

Hyundai Motor Co. and its affiliate Kia Motors Corp. ranked No. 1 in the U.S. compact crossover utility vehicle market in the first eight months of this year, a report showed Wednesday. The report released by Autodata Corp., a U.S.-based automotive statistical data and market intelligence provider, said the two South Korean carmakers outsold such rivals as Chevrolet, Jeep and Toyota. A CUV is a...
SKC launches LED making subsidiary

Sept 7, 2011

The industrial materials maker SKC launched SKC Lighting, a light-emitting diode maker, on Wednesday. The new subsidiary was formed by merging the LED makers Sumray Corp. and Dooyoung. SKC entered the LED market by acquiring Sumray in January 2010, and acquired Dooyoung in April. At the launch ceremony SLC Lighting chief executive Lee Hak-hee said that the company aims to become one of the wor...
Organic milk ‘overpriced,’ no better

Sept 7, 2011

A study found Wednesday that organic milk products cost up to three times more than standard milk products despite containing no fewer harmful substances or bacteria. Consumers Korea released its study on organic milk products of three major diary companies including Namyang Diary Products Co. and Pasteur Milk. “There was actually no difference between organic and standard milk products,” the g...

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