The Korea Herald

Banks to buy W1tr in toxic loans in June

May 12, 2011

Eight major commercial banks will next month purchase toxic loans totaling 1 trillion won ($923.6 million) issued to the construction sector as part of a bid from the nation’s financial regulators to...
Home-backed lending jumps W2.4tr in April

May 12, 2011

Korean banks’ home-backed loans grew by the largest amount in four months in April as the economic recovery spurred loan demand, the central bank said Thursday. Local banks’ mortgage loans reached a...
FSC delays ruling on Lone Star’s eligibility

May 12, 2011

Decision spurns speculation that Hana Financial-Lone Star deal may break down The Financial Services Commission announced Thursday that it has decided to indefinitely delay its ruling on whether Lon...
Safdie bids for Incheon Airport terminal No. 2

May 12, 2011

Famed architect Moshe Safdie on Thursday said his team aimed to incorporate elements unique to Korean culture in his design bid for a second terminal at Incheon International Airport. Addressing rep...
Samsung eyes $10b revenue in southern Africa by 2015

May 12, 2011

NAIROBI (Yonhap News) ― Samsung Electronics Co. aims to post $10 billion in revenue by 2015 in Sub-Saharan Africa with its consumer electronics and mobile products built for the market, the chief of ...
LG announces mutual growth scheme

IndustryMay 12, 2011

40 billion won R&D plan to start with focus on boosting productivity LG Electronics said Thursday that it will invest 40 billion won ($36.86 million) in research and development with its subcontract...
Google-powered laptops to go on sale June 15

TechnologyMay 12, 2011

Sundar Pichai, senior vice president of Chrome at Google Inc., speaks during a keynote address at the Google I/O conference in San Francisco, California, U.S., on Wednesday, May 11, 2011. Google Inc....
Office workers spend more on booze than culture

May 12, 2011

The average Korean office worker spends twice as much money on drinking as culture and entertainment, a survey showed. According to a survey of 640 people conducted by recruitment website Career, wh...
LG Chem to place bigger emphasis on batteries

IndustryMay 11, 2011

LG Chem plans to have half of its business in batteries and information materials by 2015, based on the belief the sectors will lead the firm to join the ranks of global top-tier companies. “Our bus...
KTX-II train examined due to structural fault: sources

IndustryMay 11, 2011

One of the 19 KTX-Sancheon high-speed trains has been pulled off line as the system is now under examination by the manufacturer due to a serious structural fault, sources said Wednesday. KTX-Sanche...
Samsung denies reports of abandoning solar batteries

IndustryMay 11, 2011

Samsung Group on Wednesday denied news reports that its owner Lee Kun-hee instructed his company to reconsider the plans for developing solar batteries, saying Samsung has already earmarked the busin...
Korean Air refuses to let cancer patient onto flight

IndustryMay 11, 2011

Korean Air denied a terminal cancer patient in the United States a seat on a flight to Korea because she “looked too frail.” Crystal Kim, a Korean-American with stage 4 breast cancer, was to take th...
Ministers discuss smart society, its challenges

May 11, 2011

Global ministerial meeting focuses on digital convergence, social networking services Ministers and vice ministers from 21 countries gathered in Seoul on Wednesday to share views about how innovativ...
Ministry sets area of new park in Yongsan

May 11, 2011

The Ministry of Land, Transport and Maritime Affairs on Wednesday designated 2.43 square kilometers of the land currently occupied by the U.S. Army’s Yongsan Garrison to be converted into a park. Ce...
Road map for Woori Finance sale due out next week: FSC

May 11, 2011

Korea will unveil its road map for the sale of a controlling stake in the second-biggest banking group Woori Finance Holdings Co. next week in a bid to restart its stalled privatization, the financia...