City car sales jump 45% in Feb. on low costs, convenience, numerous incentivesYoon So-ra had been dreaming of a sleek, smooth-driving sedan for her first car. After three years on her first job, the 27-year-old office worker is now more budget-conscious and leaning toward cheaper, energy-saving small cars.“I first thought of buying a mid-size used car,” Yoon said while looking around a Kia Motor C

The number of Korean smartphone users is approaching the 10 million threshold, company data showed Monday. SK Telecom, the country’s top mobile operator, said on Monday it has registered more than 5 million smartphone subscribers. KT Corp. secured 3.7 million users and LG Uplus Corp. followed with 1 million.The combined number topped 9.7 million, up more than 35 percent from about 7.2 million at t

By Shin Hyon-heeKorea’s government and companies will open a grain trading company in Chicago next month, speeding up efforts to ensure stable supply and cope with price swings, a source close to the matter told The Korea Herald.The state-run Korea Agro-Fisheries Trade Corp. (aT) said in January it and large local firms will launch the joint corporation this year to establish a national grain proc

Hyundai Heavy Industries Co., the world’s top shipbuilder, appointed Kim Oi-hyun as co-chief executive during its shareholders’ meeting on Friday.The former shipbuilding division head will replace Min Keh-sik, who had led the firm for the past 10 years. Kim Oi-hyunKim, 57, will oversee management as vice chairman and chief executive, alongside Lee Jai-seong, who became president and chief executiv

Samsung Electronics is looking to hire Chris Bangle, former chief designer for BMW Group, in pursuit of more stylish products, a company official said.If the two parties reach consent, he is likely to take charge of designing mobile phones, netbooks, home appliances and other devices for Korea’s top electronics manufacturer.“Samsung has been trying to offer him an advisory job, not an exclusive co

Samsung emphasizes smarter online features, LG claims brighter, clearer pictureKorea’s electronics powerhouses, Samsung and LG, are embroiled in a bitter war of words trumpeting the superiority of their 3-D TV technologies. The two top TV makers are pinning high hopes on the next-generation moving picture which promises to create lucrative revenue sources.The battle is becoming increasingly intens

Hyundai Heavy Industries and local venture firms have succeeded in localizing high-tech robotic equipment for artificial joint operations, the company said Monday.The country’s top builder developed bodies and controllers for the “Robodoc” in a joint project promoted by the Ministry of Knowledge Economy in July 2009.Made by local robotics venture Curexo Inc., the Robodoc is the only robotic system

SK Telecom will begin selling Apple Inc.’s iPhone on March 16, it announced Sunday, ending the exclusive distribution here by its rival KT Corp. The country’s largest mobile carrier said it will take pre-orders starting Wednesday at its T World branches and online. “We at SK Telecom are glad that we can introduce the iPhone 4 through Korea’s best network,” said Seo Jin-woo, chief of SK’s platform

LG Electronics, the world’s second-largest TV manufacturer, has installed a liquid-crystal display production line at its flat-screen plant in China targeting a rapidly expanding Chinese middle class, the company said Sunday.The new facility in Shenyang, the capital of northeastern Liaoning province, began operation recently to produce about 65,000 LCD televisions per month.“It follows our strateg

The Walt Disney Company announced on Wednesday it appointed Luke Kang, a broadcast media specialist, as new senior vice president and managing director for the Korean unit.Kang, a Korean-American, will oversee the unit’s strategy and business and coordinate Disney global franchises in the market, the company said in a statement. Luke Kang“The combination of Disney’s award-winning content with Kore

SK Telecom is cranking up its support of software developers, seeking to broaden its pool of mobile applications.Korea’s top mobile carrier said Tuesday it has picked four venture firms to receive its financial and operational support in its “innovation ecosystem” to generate programs for its mobile platform. The conglomerate has also worked since last year to help small and medium-sized enterpris

LG Electronics said Tuesday it aims to more than double its share in the European air conditioning market this year.Korea’s second largest electronics maker is showcasing its air conditioning and heating products at a tradeshow in Madrid, Spain, this week.“We will target the European air conditioner market by strengthening our lineup with market-leading products, service capabilities and infrastru

Samsung Electronics, KT to cooperate for energy-efficient cloud serviceSamsung Electronics and KT Corp. are joining forces in a project to foster energy-efficient cloud computing to cope with exploding data demand amid a smartphone boom.The two companies signed an agreement Monday under which Samsung will install its new memory chips into a low-power server that KT is setting up in its data center

LG Electronics, Korea’s leading consumer electronics manufacturer, said Sunday that it plans to start a business-to-business energy consulting service next month as a new source of income.The business will involve analyzing energy flows, including heating and air conditioning in office buildings and providing solutions for energy saving. LG’s initiative reflects the group’s efforts to secure futur

Samsung Electronics said on Wednesday that it has developed the world’s first full-color quantum dot display, paving the way for the next-generation products that are cheaper but more vivid and energy-efficient.Quantum dots are semiconductor nanocrystals that become luminous in reaction to current or light. They have emerged as a next-generation photonic method due to its finer color expressions a

The International Monetary Fund will release a report next week highlighting South Korea’s successful policy response to speculative capital inflows, a government official said. The report will exemplify the Finance Ministry’s imposition of taxes and limits on speculative trading as legitimate macro-prudential measures. “The IMF is to release a report about the emerging market’s combating of hot m

The Australian Chamber of Commerce in Korea has elected Jim Lim, regional manager of Meat & Livestock Australia, as the new chairman for its executive committee this year. Lim will replace Sean Rodrigues, who has held the post for the last three years.   Jim Lim“I am honored to have been elected chairman and intend to work closely with all our stakeholders to continue the growth and development of

The evolution of mobile technology and fast distribution of smartphones in Korea sparked ever-growing demand for video content on YouTube, Gautam Anand, director of its Asia Pacific content partnerships, said Tuesday.Created in Feb. 2005, the video-sharing website has been among the most visited online spaces by Korean users in recent years along with social networking services Facebook and microb

The Kyunghyang Housing Fair and Housing Brand Fair 2011, the country’s largest building materials and construction exhibition, is to kick off Wednesday, its steering committee said Monday. The two tradeshows were integrated last year, aiming to provide one large cohesive venue for professionals to create a global network.In the five-day event at KINTEX in Goyang, Gyeonggi Province, about 600 compa

KT&G Corp., Korea’s tobacco giant, said it plans to launch a new version of Davidoff cigarettes in the local market on Wednesday. Davidoff Rich Blue is the second edition of the global premium cigarette brand owned by U.K.-based Imperial Tobacco Group PLC. The cigarette has 3 milligrams of tar, thus offering a milder taste than the first Davidoff Classic’s 6 milligrams, KT&G said Monday.  Davidoff