The Korea Herald

Samsung's brand value rises but relegated to 3rd spot

The brand value of South Korea's top conglomerate Samsung Group rose to $83.1 billion in 2015, but its ranking dropped one notch from a year earlier, industry data showed Monday.According to the data compiled by British industry tracker Brand Finance, Samsung stood as the world's No. 3 firm in terms of brand worth. It marked a 1.8 percent rise from a year earlier.U.S.-based Apple Inc., Samsung's key rival in the tech industry, took the throne with $146 billion, up 14 percent from a year earlier.

Industry March 14, 2016

Apologetic Lee Se-dol admits to feeling pressure vs. AlphaGo

After losing his third straight Go match against Google's artificial intelligence program AlphaGo Saturday, South Korean veteran Lee Se-dol said he simply didn't have what it took to win."I've never felt this kind of pressure," Lee told reporters after falling to AlphaGo by resignation in 176 moves. "I wasn't good enough to handle that kind of burden. I'd like to apologize (to people). I think they must have had high expectations, but I came out lethargic."By taking the first three matches, Alph

Technology March 13, 2016

Apologetic Lee Se-dol admits to feeling pressure vs. AlphaGo

Samsung investors vote on board changes

Samsung Electronics Co. warned of rising competition across businesses from smartphones to memory chips, again sounding a dour note for the global technology industry in 2016.The world’s largest smartphone vendor faces another difficult year after a 2015 plagued by economic turbulence and volatile exchange rates, Chief Executive Officer Kwon Oh-Hyun said in a letter to shareholders ahead of their annual meeting on Friday.Investors across a raft of Samsung Group companies will vote Friday on prop

Technology March 11, 2016

Minor opposition party member resigns from party post over merger

A senior member of the minor opposition People's Party resigned from his post Friday, deepening an internal feud over a possible merger with the main opposition party ahead of the April 13 general elections.Rep. Kim Han-gil, the head of the party's election planning committee, said he will step down after he failed to persuade the party's co-chairman Ahn Cheol-soo to join forces with the Minjoo Party of Korea to win more seats in the upcoming polls. "I held a meeting with two chairmen yesterday

Politics March 11, 2016

Korea's foreign currency deposits fall to 23-month low in Feb.

Foreign currency deposits at banks continued to shrink in February due to a large cut in deposits held by local firms, central bank data showed Thursday.Outstanding foreign currency deposits held by local residents came to $53.47 billion at the end of last month, down $2.13 billion from the previous month, according to the data from the Bank of Korea (BOK).The February reading marks the lowest level since $51.1 billion tallied in March 2014, as well as the fourth consecutive month of on-month de

March 10, 2016

Korea's foreign currency deposits fall to 23-month low in Feb.

Samsung showcases Galaxy S7 on home turf

Samsung Electronics Co. showcased its latest flagship smartphones in South Korea on Thursday, with price tags hovering below their predecessors in an apparent bid to better compete with rivals and improve its ailing smartphone business.The world's top smartphone maker said the local price of the 32 gigabyte (GB) Galaxy S7 will be 836,000 won ($690), compared with the initial price of 858,000 won for the 32GB Galaxy S6.That of the 32GB Galaxy S7 Edge stands at 924,000 won, also down 5.6 percent f

Technology March 10, 2016

Samsung showcases Galaxy S7 on home turf

Antitrust watchdog fines 172 firms for disclosure violations

South Korea's antitrust watchdog said Thursday that it has slapped a combined 815 million won ($672,720) in fines on 172 affiliates of large business groups for regulatory filing violations last year.Sixteen affiliates of Lotte Group were fined a combined 135.5 million won and 12 companies under the arm of SK Group were booked92.6 million won in penalties for not properly reporting to authorities about their intra-affiliate business deals, according to the Fair Trade Commission (FTC).The deals i

March 10, 2016

Antitrust watchdog fines 172 firms for disclosure violations

Public firms to launch mega projects in 2016

Four state-run companies will carry out 21 trillion won (US$17.3 billion) worth of projects in 2016 as part of the government-led stimulus to boost the local property market and the entire economy, the ministry said Thursday.The public firms will order 1,689 new projects, such as building new apartment complexes and highways, this year, with the total value reaching 20.9 trillion won, up 7 percent from 19.5 trillion won a year earlier, according to the Ministry of Land, Infrastructure and Transp

March 10, 2016

Ssangyong Motor eyes compact SUV market with Tivoli Air

Ssangyong Motor Co., owned by India's auto giant Mahindra & Mahindra, launched the Tivoli Air on Tuesday, targeting the growing compact SUV market. The Tivoli Air is a long-body version of its popular Tivoli crossover SUV, which was launched early last year. The Tivoli led its domestic and overseas sales throughout last year, raising expectations for the larger-sized family model. "The Tivoli Air is armed with the unique dynamic style, which evolved from the luxurious and stylish brand of the Ti

Mobility March 8, 2016

Home ownership falling among young Korean households

South Koreans in their 20s and early 30s lag far behind their American counterparts in terms of home ownership, a think tank report said Tuesday, indicating unemployment and other economic difficulties faced by young Korean people. According to a report released by KB Research, 21 percent of Koreans aged 20-35 had their own homes, including apartments, in 2010, whereas 36 percent of their same-age Americans owned their homes in 2014. The KB report is based on the latest data from the two countr

Business March 8, 2016

US likely to report another month of solid hiring for Feb.

U.S. workers have been largely insulated from a global slowdown. Job growth remains steady and wages are finally picking up _ trends that will be put to the test in Friday's employment report for February. Economists have forecast that employers added a solid 195,000 jobs last month, up from the 151,000 added in January, according to data firm FactSet. And the unemployment rate is expected to remain at a low 4.9 percent. Hiring by construction companies, retailers and health care providers have

World Business March 4, 2016

Bourse operator launches probe into Doosan shares spike

South Korea's bourse operator said Friday it has launched a probe into the trading of Doosan Group shares over possible unfair practices after they surged right before the announcement of the new chief.At around 2:40 p.m. on Wednesday, the country's power equipment and construction conglomerate said Park Jeong-won, chairman of the group's de facto holding firm Doosan Corp., was designated to be the group's new chairman to replace Park Yong-maan.In the late morning trades of the day, Doosan share

Industry March 4, 2016

Bourse operator launches probe into Doosan shares spike

Korea, U.S. launch formal talks on THAAD deployment

South Korea and the United States officially launched a joint working group Friday to discuss the idea of deploying an advanced missile defense shield in the Northeast Asian country, the Defense Ministry here said.The joint group is scheduled to hold its inaugural meeting later in the day at the Ministry of National Defense. The sides are co-headed by the South Korean ministry's Director General Maj. Gen. Jang Kyung-soo and U.S. Forces Korea's Maj. Gen. Robert Hedelund.After years of speculation

Defense March 4, 2016

Korea, U.S. launch formal talks on THAAD deployment

Choi shines as Korean-American adoptee in musical

A young Korean-American adoptee returns home for the first time in desperate search for his birth-mother. For musical director, conductor and actress Kolleen Park, the plot of her latest musical production “Airport Baby” may seem like an all-too-familiar tale. But add local musical actor Choi Jae-rim to the mix and the result is an unexpectedly moving portrayal of a troubled young soul. Following her role as a mother struggling with bipolar disorder in the Korean rendition of the off-Broadway mu

Culture March 3, 2016

Ha Jung-woo puts new painting up for auction

Actor and film director Ha Jung-woo has put up his painting “Keep Silence” for auction, art auctioneer I Auction announced Wednesday.The auctioneer described Ha’s works as an outlandish and humorous depiction of the conflict between oneself and the character he or she plays, adding that it evokes pop art and expressionism.The auctioneer estimated the value of Ha’s work to range from 13 million won ($ 10,647) to 25 million won. Ha’s career as an artist started as a hobby in 2007, when he was a co

Culture March 3, 2016

Articles by 황장진