The Korea Herald

G20 to strengthen financial safety net

Oct 16, 2011

Seoul split on need for currency swap The Paris meeting of the world’s leading economies this weekend was a step forward in improving the financial safety net protecting the market from destabilizing capital movements, Finance Minister Bahk Jae-wan said. The G20 finance chiefs agreed to allow the International Monetary Fund run a fresh short-term liquidity instrument, a safety net to fund membe...
Hyundai adds cheapest car to India lineup to challenge Suzuki

TransportOct 16, 2011

Hyundai Motor Co., poised to earn the most profit among Asian carmakers this year, will step up its campaign to weaken Suzuki Motor Corp.’s loosening grip on India’s automobile market with a new hatchback. The Seoul-based company on Thursday introduced the Eon, its cheapest model in India so far, with a price starting from 269,999 rupees ($5,496). Maruti Suzuki India Ltd., which sells the nation...
Garuda targets Korean travelers

IndustryOct 16, 2011

Indonesian airline adds new flights, hires Korean flight attendants JAKARTA ― Garuda Indonesia, after years of concentration on safety improvements, is preparing to aggressively target Korean passengers, adding new flights and hiring Korean flight attendants. “Korea is a prospective market for us. Business between Korea and Indonesia is growing strongly,” said Emirsyah Satar, chief executive of...
Regional twists keep GM designs global: Welburn

TransportOct 16, 2011

DETROIT ― General Motors Corp. may be renowned for its mass scale of production across 140 countries, but little is known of its ability to differentiate designs across regions. GM designs are found in all regions, but there are unique twists in Korea, China, Thailand and India to suit local driving habits and cultural tastes, Edward Welburn, design chief of GM said. “It’s our top priority to c...
U.S. runs $1.3 trillion budget deficit in 2011

Oct 16, 2011

WASHINGTON (AP) ― The government ran a $1.3 trillion deficit for the budget year that ended last month, the third straight year it has operated more than $1 trillion in the red. The 2011 budget deficit was the second highest on record. It’s slightly ahead of the previous budget year’s $1.29 trillion deficit but below the $1.41 trillion imbalance record in 2009. A decade ago, the government was ...
G20 considers boosting IMF role in eurozone

Oct 16, 2011

World’s leading economies ask IMF to draw up ways to help stem eurozone crisis as Italy, Spain struggle PARIS (AP) ― The finance chiefs of the world’s leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone’s escalating debt troubles. The Group of 20 rich and developing nations asked the IMF to propose ways that it could help...
Samsung-Apple war enters new phase

IndustryOct 16, 2011

Samsung is likely to have turnaround opportunity in long term: sources While the debate surrounding the global patent war staged by Samsung Electronics and Apple Inc. is garnering wide attention, industry watchers say Samsung has a good chance of creating a turnaround even after its three defeats against the software giant. “Apple currently looks to be in the lead, but it’s much more difficult ...
Seoul to rein in financial firms’ pay packages

Oct 16, 2011

Korea’s financial regulators said they were considering measures to address the controversy over generous salaries and dividends in the banking, securities and other financial sectors. “Modifying the regulatory system is now being reviewed concerning some of the high compensation executives in the financial sector receive,” said an official from the Financial Services Commission. “It’s difficul...
Korea to toughen rules on dog registration in 2013

Oct 16, 2011

Dog owners residing in South Korea will be required by law to register their pets, officials said Sunday, as the government is set to expand its mandatory pet registration rule nationwide starting in 2013. The push to widen the obligatory registration of companion dogs comes as the number of abandoned pets and the cost of rescuing and finding new homes for them rises. Starting in 2013, South Ko...
Samsung heir to attend Jobs memorial service at Stanford

TechnologyOct 16, 2011

Lee Jae-yong, chief operating officer of Samsung Electronics Co., is planning to attend a memorial service for Steve Jobs, the late co-founder of Apple Inc., in the U.S. this weekend, industrial sources said Sunday. Lee, the only son of Samsung Electronics Chairman Lee Kun-hee, has been invited by Apple’s chief executive Tim Cook to the invitation-only memorial service for Jobs, according to sou...
iPhone’s Siri voice command to reach Korean users next year

TechnologyOct 16, 2011

Apple Inc. is expected to offer a Korean-language version of its Siri voice command feature starting in 2012, the U.S.-based technology giant said Saturday. The company said on its website that it will begin offering Siri services in Korean, Japanese, Chinese, Italian and Spanish starting next year, after launching the feature in English, French and German. Siri is a flagship feature of Apple’s...
New iPhone launch turns into remembrance for Jobs

TechnologyOct 15, 2011

NEW YORK (AP) — It wasn't just the latest iPhone that drew people to Apple stores Friday. Many consumers waited in lines for hours — sometimes enduring chilly temperatures and overnight thunderstorms — to remember Steve Jobs, Apple's visionary who died last week. The company's first iPhone release since Jobs' death turned into another tribute. Some customers even joked that the new model 4S sto...
G-20 finance ministers seek joint effort to handle financial crisis

Oct 15, 2011

PARIS, Oct. 15 (Yonhap) -- Finance ministers from the world's leading industrialized and emerging economies plan to outline ways to tackle the current global financial crisis that is vital for economic growth, government sources said Saturday. Official sources said the communique to be released at the end of the two-day-long gathering in the French capital later in the day is expected to tackle ...
With Netherlands ruling, Samsung's patent offensive against Apple hits snag

IndustryOct 15, 2011

SEOUL, Oct. 15 (Yonhap) -- Samsung Electronics Co.'s patent offensive against its rival Apple Inc. hit a snag after a Dutch court on Friday (Korea time) rejected the Korean firm's injunction to ban sales of the U.S. company's iPhones and iPads. The ruling by the district court in the Hague may pose problems for the world's No. 2 mobile phone maker embroiled in a worldwide legal battle with Apple...
Dutch court rejects Samsung's injunction claim against Apple

IndustryOct 15, 2011

BRUSSELS, Oct. 14 (Yonhap) -- A Dutch court on Thursday denied an injunction request filed by Samsung Electronics Co. to ban its rival Apple Inc. from selling iPhones and iPad tablets in the Netherlands. The district court in the Hague rejected Samsung's claims that Apple infringed on its 3G mobile technology patent. The court said in a verdict posted on its website that Samsung is obliged to o...