The Korea Herald

KB, Shinhan CEOs seek boost from IR activities

May 16, 2011

Financial chiefs hope to overcome saturated domestic market Chief executives of major financial companies are increasingly focusing on overseas public relations to overcome the challenges of the saturated local market. Among the more active players are KB Financial Group chairman Euh Yoon-dae and Shinhan Financial Group chairman Han Dong-woo. Han Dong-woo Euh left for the U.S. last Saturday t...
Strauss-Kahn innocent till proven guilty: French government

May 15, 2011

The French government considers that IMF chief Dominique Strauss-Kahn is innocent until proven guilty following his arrest in New York on sexual assault charges, its spokesman Francois Baroin said Sunday. "The French government respects two simple principles: that the judicial proceedings are under way under the authority of American justice, according to American law, and the respect for the pr...
IMF chief's arrest rocks French presidential race

May 15, 2011

PARIS (AP) -- The stunning arrest of IMF chief Dominique Strauss-Kahn in connection with a sexual assault in New York is throwing the French presidential race into disarray. Some rivals and political observers said it could bury any presidential bid by Strauss-Kahn, considered the strongest potential challenger to unseat the unpopular President Nicolas Sarkozy in next year's election. Others ur...
Hyundai Engineering to expand Iraqi power plant near Baghdad

IndustryMay 15, 2011

South Korea's Hyundai Engineering & Construction Co. started work Sunday on a $219 million project to expand a gas-fired power station near Baghdad, an Iraqi Electricity Ministry spokesman said. The Al-Quds station located in a suburb northeast of the capital will increase production to 1,400 megawatts from 900 megawatts after 18 months, said Qais al-Waeli, spokesman for the ministry's gas proje...
FSC chairman dodges issue on Lone Star Funds

May 15, 2011

Kim should have ordered U.S. fund to sell shares, watchdog official says Kim Seok-dong, the nation’s chief financial regulator, has once again come under public scrutiny for his allegedly irresponsible policy on U.S. Lone Star Funds, the biggest shareholder of Korea Exchange Bank. Following the vague stance he assumed on corruption scandals of regulatory staffers, for which he has yet to offer ...
Hyundai joins Denmark’s green car campaign

TransportMay 15, 2011

Hyundai Motor Co., South Korea’s largest automaker, said Friday it has agreed to join Denmark’s efforts to promote clean energy cars in a move to tap the fast growing market for green vehicles in Europe. A memorandum of understanding (MOU) to that end was signed Wednesday in Denmark between the South Korean automaker and the city of Copenhagen, the capital of Denmark, Hyundai Motor officials sai...
Samsung narrows gap with Intel

IndustryMay 15, 2011

Samsung Electronics Co., the world’s largest maker of computer memory chips and the second-biggest semiconductor company, reduced its gap with industry leader Intel Corp. in 2010, according to an industry report Sunday, fueled by its memory business. Samsung accounted for 9.2 percent of the global chip revenue in 2010, up from a 7.6 percent share in 2009, according to the latest report from IHS ...
SK Innovation airs ads on global warming

IndustryMay 15, 2011

SK Innovation Co., one of the nation’s leading energy companies, has launched a TV commercial highlighting the risks global warming poses. Emphasizing the plight polar bears face due to global warming, the commercials tell viewers that the company is committed to fighting greenhouse emissions, SK Innovation said. Images from SK Innovation’s TV commercials on global warming. (SK Innovation Co.) ...
Hynix wins appeal against Rambus

IndustryMay 15, 2011

Hynix Semiconductor, the world’s No.2 memory-chip maker, won a patent infringement appeal against Rambus Inc., a U.S.-based technology licensing firm, the South Korean company said Saturday. If the ruling stands, Hynix will not have to pay the hefty compensation it was slapped with in 2009. “We welcome this ruling as it has helped us establish the basis for pursuing future negotiations with Ram...
Groupon Korea’s marketing tactics called into question

IndustryMay 15, 2011

The Korean branch of U.S.-based global social commerce powerhouse Groupon is facing growing criticism after it posted wrong information about displayed items and even sold products that it had not secured. Groupon Korea on May 2 canceled a “secret megadeal” two hours before the event launch, during which the company was expected to hand out 500,000 giftcons ― mobile gift coupons ― which would gi...
FSS top brass to face annual screening

May 15, 2011

High-ranking officials of the Financial Supervisory Service will likely be subject to a tougher code of conduct and may face dismissal if they fail to meet annual internal assessments, officials said Sunday. Currently, 12 FSS executives, three deputy governors and nine assistant deputy governors, are allowed to maintain their three-year term as long as they do not engage in criminality. “In the...
Shinsegae finalizes deal to buy Kim‘s Club Mart

IndustryMay 15, 2011

Shinsegae Co., South Korea’s second-largest retailer by sales, said Friday that it has finalized a deal to acquire Kim’s Club Mart Co., the supermarket chain operator of leading local fashion retailer E-Land Group. Kim’s Club Mart will be purchased by Shinsegae’s discount unit E-Mart Co., Shinsegae said. The purchase price is reported to be less than 200 billion won (US$184.5 million). On May...
Trade surplus continues for 15th month in April

IndustryMay 15, 2011

South Korea logged a trade surplus in April for the 15th straight month, fueled by exports of petroleum products, ships and vehicles, the nation’s customs office said Sunday. The trade surplus reached $5.14 billion last month, according to data released by the Korea Customs Service. The figure marks the 15th consecutive month of surplus since February 2010. Exports stood at $49.15 billion in Ap...
‘I’M YOU’ services a success for KIS

IndustryMay 15, 2011

Korea Investment & Securities is successfully operating its one-stop asset management solution designed to help clients make investment choices that best reflects stock market trends, the company said. As of April, the portfolios operated by the company’s “I’M YOU” services showed an average return rate of 17 percent. Park Ji-yoon, a TV personality and former anchor, holds up a placard for KIS’...
KCC reviews Apple, Google response

BusinessMay 15, 2011

IT powerhouses await government measures on privacy breach accusations Privacy breach accusations against Google and Apple are expected to take a new turn this week following their recent responses to questionnaires sent by state authorities earlier last month. The Korea Communications Commission said it formed a 16-member committee, which includes representatives from academic, engineering and...