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Hyosung eyes global energy solutions market

Hyosung Corp. president Cho Hyun-joon said Wednesday that the company hopes to foray into the global market with its IT-based energy solutions. “Hyosung has been recognized for its electricity busine...

Updated : 2014.08.27 20:45

Virginia S. Superslim gets modern look

The new package of Philip Morris’ Virginia S. Superslim variants. (Philip Morris)Philip Morris Korea, an affiliate of the global tobacco firm Philip Morris International, has launched new packaging f...

Updated : 2014.08.27 20:44

Korea’s duty-free allowance raised to $600

The duty-free allowance for travelers entering South Korea will be raised to $600 from the current $400 on Sept. 5, the Ministry of Strategy and Finance said Wednesday. This is the first time that the ceiling has been raised since 1988. The government also plans to reduce taxes on traveler...

Updated : 2014.08.27 20:44

SK chief’s daughter signs up for Navy

A daughter of the convicted head of SK Group, Korea’s No. 3 conglomerate, has decided to enlist in the Navy, the business group said Wednesday, sparking public interest in a country where draft dodging by children of the powerful is persistent.Chey Min-jung, the daughter of former SK chai...

Updated : 2014.08.27 20:44

Renault Samsung reaches tentative wage agreement

Renault Samsung Motors Co., the local unit of French automaker Renault S.A., said Wednesday that it has reached a tentative agreement on this year’s pay increase, pending a local court’s decision on a sticky labor-management issue on ordinary wages. The agreement marks the third time thi...

Updated : 2014.08.27 20:41

Main culprit in large-scale loan fraud gets 20-yr prison term

A Seoul court on Wednesday sentenced the chief of a subcontractor of telecom giant KT Corp.'s financially troubled affiliate to 20 years in prison for masterminding a large-scale loan fraud.The 46-year-old chief of Joonangtnc Co.Ltd, surnamed Seo, was found guilty of colluding with other e...

Updated : 2014.08.27 17:51

[Newsmaker] Daewoo founder says break-up was wrong

More than a decade after the collapse of Daewoo Group in 1999, the group founder and former chairman Kim Woo-choong has stepped out of the shadows to promote a book telling the “real story” about wh...

Updated : 2014.08.26 21:22

[Herald Interview] Korea’s agricultural community revival movement goes global

South Korea’s iconic community development movement ― Saemaul Undong ― is to be expanded to developing countries in a joint effort with the International Fund for Agricultural Development, accordin...

Updated : 2014.08.26 20:57

Sales at major retail outlets drop 4.6% in July

Sales at South Korea’s large retail outlets declined on-year in July on sluggish demand for clothes and outdoor products, government data showed Tuesday.According to the data by the Ministry of Trade, Industry and Energy, sales at major retail outlets dropped 4.6 percent last month from t...

Updated : 2014.08.26 20:54

Nexen Tire expands football marketing in Europe

Nexen Tire Corp., South Korea’s smallest tiremaker, said Tuesday it has stepped up football marketing in Europe as part of its strategy to raise brand equity and sales.The company, which recently inked a 1.2 trillion won ($1.17 billion) deal to build a tire production plant in the Czech R...

Updated : 2014.08.26 20:54

DSME honored for Korea’s first drillship

Daewoo Shipbuilding & Marine Engineering received a plaque of appreciation for building South Korea’s first drilling rig, which has been used to help secure the nation’s energy sources over the last...

Updated : 2014.08.26 20:47

Hyundai E&C grows in emerging markets

Hyundai Engineering & Construction, South Korea’s largest builder, will expand further into emerging markets and diversify its business risk in the second half of this year, the company said in a sta...

Updated : 2014.08.25 21:12

Caffe Bene opens Vietnamese outlet

Caffe Bene on Sunday opened its first Vietnam outlet on Dong Khoi Street in Ho Chi Minh City, company officials said Monday. The Korean coffee chain has plans to launch up to 300 outlets in Vietnam by...

Updated : 2014.08.25 21:11

GS Home Shopping makes leap in mobile

GS Home Shopping, the operator of the nation’s No. 1 home shopping brand GS Shop, aims focus more resources into its soaring mobile business. About 20 percent of GS Shop customers shop using a mobile...

Updated : 2014.08.25 21:10

Conglomerate hiring rate to remain flat in H2

In the second half of this year, leading business groups here are expected to hire roughly the same number of new employees as in the same period last year to help bolster the local job market, corporate observers said Monday.Also, instead of choosing people based on schools and accreditat...

Updated : 2014.08.25 21:10