The Korea Herald

W Hotel bartender to vie in world competition

Jun 22, 2011

Diageo Korea, the local unit of the global drinks group, announced Wednesday that Mickey Lee of W Hotel’s Woobar has won the regional final of its international bartending competition. Lee reserved a ticket as a Korean representative to the annual World Class 2011 contest scheduled for July 11-14 in New Delhi, India, the host said. “Having tried out for the contest three years in a row, I’m unb...
Chinese imitation gives new meaning to twin town

Jun 22, 2011

China is well known for its fakes, but the economic giant has unveiled plans to take imitations to a whole new level. The latest plan is to copy an entire European town. Chinese real estate company China Minmetal Corp has started a project to recreate the Austrian city of Hallstatt in Huizhou. A total of $900 million is to be invested in the project. Included on the UNESCO World Heritage list ...
Retailers upbeat over Q3 business: poll

Jun 21, 2011

A majority of Korean retailers are optimistic about business conditions in the third quarter of the year on hopes of a rise in their sales during the summer holiday season, a poll showed Tuesday. The Korea Chamber of Commerce and Industry said its retail business index fell slightly to 119 for the July-September period from 125 for the second quarter, but it was well above the benchmark level. ...
Number of air passengers rises

Jun 21, 2011

The number of air passengers taking international flights in and out of South Korea grew about 2 percent in May from a year earlier as more holidays bolstered overseas travel, the Transportation Ministry said Tuesday. Air passengers on international flights totaled 3.32 million last month, up 2.1 percent from a year earlier, according to the data by the Ministry of Land, Transport and Maritime A...
SK Group says securities unit’s fate undecided

Jun 21, 2011

Conglomerate denies reports on selling SK Securities to SK C&C SK Group remains undecided despite the fast-approaching deadline for complying with fair trade laws dictating that the group divest itself of stakes in SK Securities Co. On Tuesday, the group denied a Yonhap News Agency report that it had decided to sell SK Securities shares to the IT services provider SK C&C if the revised bill is ...
LG rolls out world’s fastest color printer

Jun 21, 2011

LG Electronics said on Tuesday it would roll out the world’s fastest A4 color desktop printer, able to print up to 60 pages per minute, this month. In a press conference held in downtown Seoul, the global electronics giant said it joined hands with global player Memjet to release the product “Machjet LPP6010N” in the local market. The event comes as LG Electronics is putting more weight on the ...
Everland named one of top 10 theme parks

Jun 21, 2011

Samsung Everland Inc. on Tuesday said its theme park “Everland” was ranked among the global top 10 of such facilities for a fifth straight year in 2010. Everland stood at 10th place, with 6.88 million visitors according to recent figures from the Themed Entertainment Association. Everland has been included in the list of top 10 theme parks since 2006, the Seoul-based company said. In the categ...
New chief for KDB asset management

Jun 21, 2011

Lim Hong-yong Lim Hong-yong has become the new president at KDB Asset Management Co., Ltd. Lim was selected at the annual shareholders meeting on Tuesday. Former vice president of the company Lim studied business administration at Korea University. He was previously the executive director at KDB Asset Management, an affiliate of the state-run KDB Financial Group. He also served as manager of t...
IT stocks unlikely to rebound until Q3

Jun 21, 2011

Hard-hit Samsung, LG hoping for revival with smart devices A prolonged underperformance of IT stocks, including Samsung Electronics, seems likely to continue right up until the third quarter. Experts were upbeat about the long-term resilience of the IT sector, but said the second quarter was not going to hold up as well as previously expected. “In general, second quarter earnings will show a d...
Samsung Electronics enters Japanese LTE market

Jun 20, 2011

Samsung Electronics marked its splash into the global fourth-generation telecom market in earnest with a contract for providing long-term-evolution equipment to Japan’s second-largest mobile phone operator. Samsung will be offering its LTE equipment to KDDI to help the firm launch its LTE services starting next year, the Seoul-based electronics company said on Monday. LTE is the fourth-generati...
Softbank aims for world top 10 in 30 years

Jun 20, 2011

CEO Son says company will help renewable energy industry through Internet technology Masayoshi Son, chairman of Softbank Corp., said Monday that the company aims to be listed as one of the world’s top 10 firms in market capitalization in the next 30 years. In a press conference held in downtown Seoul, the 53-year-old chief executive officer said the firms belonging to the top 10 list have chang...
POSCO listed as world’s most competitive steelmaker for 2nd time

Jun 20, 2011

The steelmaker POSCO announced Monday that it was ranked top in the U.S.-based steel industry analysis firm World Steel Dynamics’ World-Class Steelmaker’s list for the second consecutive year. In this year’s report, World Steel Dynamics rated 34 steelmakers in 23 categories including technological capability, profitability and access to raw materials. POSCO scored 8.12 points to take the top spo...
STX to build shipyard in Russia

Jun 20, 2011

STX Corp. announced Monday that it signed a memorandum of understanding on building a shipyard for Russia’s state-run shipbuilder United Shipbuilding Corp. at the international economic forum held in St. Petersburg on Friday. Under the agreement, STX, which counts construction and shipbuilders among its subsidiaries, will undertake the $1 billion project to build a shipyard in St. Petersburg. T...
40-hour week means no new mobiles on Saturdays

Jun 20, 2011

Mobile retail outlets will not be able to activate new mobile phones on Saturdays starting from next month as the government plans to enforce the 40-hour per week work scheme for smaller workplaces. The country’s three mobile carriers ― SK Telecom, KT Corp. and LG Uplus ― said that electronics systems at the mobile retail outlets will not function on Saturdays beginning July 1. The move comes a...
World Bank sees Korea as global role model

Jun 20, 2011

Korea can provide a role model for sustainable growth to other emerging economies, a senior World Bank official said in Seoul on Monday. Inger Andersen, vice president of World Bank’s sustainable development unit, is seeing ample potential in Korea’s human resources and technological prowess. “Korea has a lot to offer,” she said in an interview on the sidelines of the Global Green Growth Summit...