The Korea Herald

Adobe keen on tie-ups with Korean tech firms

IndustryJul 27, 2011

Eager to ride the wave of mobile revolution that has swept Korea, the chief of Adobe Systems said he aims to double the firm’s revenues here through strong partnerships with local firms. “The goal (of my visit) is to visit significant partners as well as customers because business in Korea continues to grow quite significantly,” Shantanu Narayen, president and chief executive officer of Adobe Sy...
KEB faces penalties for irregular lending

Jul 27, 2011

Financial regulators have issued a caution against Korea Exchange Bank for unauthorized lending practices and are poised to levy a fine on the lender. The Financial Supervisory Service said Wednesday that it has cautioned the bank for breaching banking laws. The Financial Services Commission is also considering imposing fines of an unspecified value on the bank. It will be holding a panel discu...
Korean currency could grow stronger

Jul 27, 2011

Won hits fresh 3-year high on U.S. debt crisis, recording 1,050 against dollar The won hit a near 3-year high Wednesday, one of a basket of currencies strengthening against the U.S. dollar on jitters Washington may fail to agree on raising its debt ceiling. Investors unloaded dollars on fears of a possible U.S. debt default and sent the won to 1,049.10 by mid-day, its strongest level since Sept...
Major firms to increase payrolls in H2: poll

Jul 27, 2011

Major South Korean companies are set to recruit more employees in the second half of the year than a year earlier as the economy is on a solid growth path, a poll said Wednesday. According to the joint survey by the Korea Chamber of Commerce and Industry and Incruit, a local online job placement portal, 338 companies plan to hire a combined 17,361 employees in the July-December period, up 1.7 pe...
Banks face harsher stress tests on forex liquidity

Jul 27, 2011

South Korea’s top regulator said Wednesday that the watchdog plans to conduct stricter stress tests on local banks’ foreign currency liquidity conditions in a bid to shield the country from a potential financial crisis. Financial Supervisory Service Gov. Kwon Hyouk-se said the financial watchdog plans to make stress tests based on the second-quarter FX liquidity data by taking into account vario...
Sulwhasoo targets Chinese women

IndustryJul 27, 2011

Amore Pacific, Korea’ top cosmetics maker, is now targeting the fast-growing Chinese market, devising a premium positioning strategy with its high-end herbal medicine cosmetics brand Sulwhasoo. After successfully entering the markets in Hong Kong in 2004 and the U.S. in 2010, the brand Sulwhasoo made its Chinese debut this year. Starting with its first branch at Parkson Department Store in Beij...
Amore Pacific creates beauty with herbal medicine

IndustryJul 27, 2011

Premium brand Sulwhasoo realizes 66 years of research efforts Amore Pacific, Korea’s top beauty company, officially launched its high-end herbal medicine cosmetics brand Sulwhasoo in Beijing on June 22. With about 100 journalists and industry people in China and Hong Kong in attendance, CEO and president Suh Kyung-bae expressed strong confidence about the brand’s success in Asia as well as in C...
WTO’s Lamy sees paralysis in global trade talks

IndustryJul 27, 2011
Ford, Chrysler take Q2 hit to position for growth

IndustryJul 27, 2011

DEARBORN, Michigan (AP) ― Ford’s ambitious plans to grow in Asia took a toll on its second-quarter profit, with higher costs to design and sell cars offsetting rising sales. The company’s net income fell 8 percent to $2.4 billion for the April-June period. Ford blamed higher prices for steel and other commodities, but also said that after years of restructuring, the company is strong enough to s...
S&P sees second Greek debt haircut: report

IndustryJul 27, 2011
Delay in debt plan vote stokes uncertainty

World BusinessJul 27, 2011
Ostrich meat fails to ease North Korea food shortage

World NewsJul 27, 2011

SUNAN, North Korea (AP) ― It’s an unlikely sight: hundreds of ostriches, a bird native to sunny Africa, squatting and squabbling in the morning chill on a sprawling farm in North Korea. Even stranger: In winter, some wear quilted vests. Built on the heels of a 1990s famine, the ostrich farm was a bold, expensive investment that the state hoped would help feed its people and provide goods to expo...
[Robert Reich] Rise of the wrecking-ball right

ViewpointsJul 27, 2011

Recently I debated a conservative Republican who insisted the best way to revive the American economy was to shrink the size of government. When I asked him to explain his logic, he said, simply, “Government is the source of all our problems.” When I noted government spending had brought the economy out of the previous eight economic downturns, including the Great Depression, he disagreed. “The D...
[Jeffrey Goldberg] Husain Haqqani, hardest working man in D.C.

ViewpointsJul 27, 2011

Life for many members of Washington’s diplomatic corps is, one imagines, pretty much a picnic. For example, the ambassador from Barbados generally faces no career-threatening crises. Nor does the ambassador from Luxembourg. Others have trickier assignments. The ambassador from Yemen, Abdulwahab Abdulla al-Hajjri, can’t be having an easy time lately, especially since his brother-in-law is his cou...
[Editorial] Youth recruit quotas?

ViewpointsJul 27, 2011

The June job figures showed that the employment rate of women in their 50s, which was at 59.3 percent, was higher than those of men in their 20s (58.5 percent) and women in their 20s (59.2 percent). One commentary said the high rate of employment for women in their 50s cannot be welcomed wholeheartedly, adding that elderly women are driven into the job market as their sons and daughters have dif...