Most Popular
-
1
Korea added to key bond index
-
2
North Korea notifies UN Command of plans to fortify border with South
-
3
Will Apple quit smart ring race with Samsung?
-
4
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
5
Jay Park returns with quintessential R&B album after 8 years
-
6
More deaths in ICU following doctors' mass walkout: lawmaker
-
7
Security issues to take center stage at ASEAN summit
-
8
Netflix's latest runaway hit is a Korean reality cooking show
-
9
[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
-
10
Patients opting to die with dignity on steady rise
-
NTS likely to order Samsung to pay additional tax
South Korea's tax agency will likely order Samsung Electronics Co. to pay at least 100 billion won (US$89.04 million) in unreported tax and related penalties, sources said Monday.The order will be made soon as the National Tax Service (NTS) is wrapping up its regular tax audit this week into the nat
IndustryFeb. 13, 2012
-
Hana Financial inks deal to buy stakes in U.S. lender
Hana Financial Group Inc. said Sunday that it has signed a deal to buy majority stakes in a U.S.-based lender in a bid to expand its presence in the United States.Under the memorandum of understanding with Saehan Bancorp, the South Korean banking group will purchase newly issued shares to secure a 5
Feb. 12, 2012
-
Policymakers oppose capital gains tax hike
Economists and policymakers supervising the market have opposed lawmakers’ idea of taxing investors more on stock trading and dividends, saying it is likely to do more harm than good.The ruling Saenuri Party, formerly the Grand National Party, is currently pushing to widen taxable investment income by levying a top rate of 38 percent on those making annual investment returns of more than 30 million won. The 38 percent rate is currently levied on those with annual investment income of more than 4
Feb. 12, 2012
-
Medical fair expects deals worth $470m
Nearly 1,000 companies from 30 countries will showcase their latest medical equipment and health care technologies at a trade show in Seoul starting Thursday.The Korea International Medical Hospital Equipment Show 2012 is the country’s largest exhibition for the burgeoning industry, co-hosted by Korea E & EX, the Korea Medical Devices Industrial Cooperative Association and the Korea Medical Devices Industry Association at COEX in southern Seoul.During the four-day event, about 60,000 local profe
IndustryFeb. 12, 2012
-
iPad sales surpass 1 million in Korea
Apple is estimated to have sold more than 1 million iPad tablet computers in the Korean market, outpacing its local rival Samsung Electronics’ Galaxy Tab by a wide margin. Apple’s iPad debuted here on Nov. 30, 2010 and its sequel iPad 2 was introduced on April 29 last year. About 700,000 units were sold last year alone, dominating the nascent tablet computer market here.Given that many early adopters bought iPad even before the product was formally available on the local market, the actual numbe
TechnologyFeb. 12, 2012
-
Japan features coexistence with ocean at Yeosu Expo
Japan plans exhibitions themed around its people’s coexistence with the ocean at the Yeosu Expo, which opens on May 12. The Japan Pavilion, which will be the largest exhibition space for foreign countries taking part in the world fair, expects about 800,000 visitors during the three-month expo, or 10 percent of the total number of people projected to see the fair. “We plan to introduce the wisdom and technologies of the Japanese people who have coexisted with the ocean, and accepted both the ben
Feb. 12, 2012
-
Retail giants spur online expansion
Korea’s major retailers are stepping up their forays into online marketplaces as they seek a fresh growth driver in the face of tightening regulations and stiff competition on their home turf. Lotte Shopping, Shinsegae Group, Homeplus and GS Retail are bolstering their Web and mobile businesses by opening virtual stores and improving services such as in-store pickup options and faster deliveries. The e-commerce market, dominated by a host of online vendors such as Auction, Gmarket and 11st, is e
IndustryFeb. 12, 2012
-
Chaebol credit ratings inflated
The corporate credit ratings for Korean conglomerates and their affiliates have gone up amid growing worries over the neutrality and credibility of local credit ratings agencies, data showed Sunday. Korea’s three major ratings agencies ― NICE Investors Service, Korea Investors Service and Korea Ratings ― have issued more upgrades than downgrades, boosting the up/down ratio for corporate credit ratings to 3.4, according to the Korea Capital Market Institute. A ratio above 1 means upgrades outnumb
Feb. 12, 2012
-
Ulleungdo benefits from LG Uplus LTE network coverage
ULLEUNGDO, North Gyeongsang Province ― Ulleungdo, an island 120 kilometers off the east coast, only has a population of about 10,000. It is, however, one of the first islands equipped with fourth-generation Long Term Evolution communications technology, which improves network speed for wireless gadgets.“We have completed the LTE network for 84 different cities in December and we’re planning to provide nationwide coverage by the end of March,” said Kwon Joon-hyuk, vice president of networks at LG
IndustryFeb. 12, 2012
-
Seoul shares set to expand gain this week
South Korean stocks may expand their gain this week, buoyed by lessening eurozone default risks, local analysts said Saturday.The benchmark KOSPI closed on Friday at 1,993.71, up 1.4 percent from a week earlier.The index surpassed the keystone 2,000 mark for the first time in six months during the weekly trading session, although it lost some ground on Friday as investors remained cautious that a bailout deal for Greece may not end Europe’s fiscal woes.Market watchers said there are some downsid
Feb. 12, 2012
-
Korea remains world’s top derivatives market
South Korea retained its position as the world’s largest financial derivatives market in terms of trading volume last year, claiming 27 percent of total trading volume, data showed Sunday.The trading volume of financial derivatives, such as futures and options, on the local bourse gained 4.4 percent on-year to 3.81 billion contracts, according to the data from the World Federation of Exchanges. In the same period, global trading volume jumped 9.4 percent to 14.14 billion contracts.The on-year in
Feb. 12, 2012
-
Jobs at 8 Korean firms increase 8.7% in 2011
The number of jobs at eight South Korean conglomerates rose 8.7 percent last year as companies acquired affiliates and expanded into new business areas, data showed Sunday.The tallied conglomerate groups, including tech behemoth Samsung and auto giant Hyundai Motor, employed 622,000 people as of the end of 2011, compared with 572,000 the previous year, according to the data they provided to Yonhap News Agency.The eight conglomerate groups are Samsung, Hyundai Motor, SK, LG, POSCO, Hyundai Heavy
Feb. 12, 2012
-
FSS to host meeting for foreign firms
The Financial Supervisory Service is scheduled to hold an annual conference with foreign and local financial companies in March.The meeting, dubbed FSS SPEAKS, is particularly designed to provide foreign financial services firms with more detailed information on Korea’s market conditions, including stock and bond investments.Since its inaugural meeting in 2009, the meeting has established itself as a leading channel for direct communication between market participants and regulatory officials.“T
Feb. 12, 2012
-
Banks’ long-term foreign borrowing up in January
South Korean banks’ mid- and long-term overseas borrowing jumped in January as lenders secured foreign currency liquidity to brace against a possible deterioration in external conditions, the financial watchdog said Sunday.The refinancing rate of 12 local banks’ mid- and long-term foreign debts came to 382.2 percent at the end of last month, up from 174.4 percent in December, according to the Financial Supervisory Service.The rollover rate gauges the percentage of fresh overseas borrowing agains
Feb. 12, 2012
-
Korea checking Google’s new privacy policy
South Korea’s communications regulator said Saturday it is checking to see if Google’s new privacy policy of combining all user information into a single trove violates local laws.A source at the Korea and Communications Commission said an investigation is underway to see if the measures being planned by the global search engine conflict with domestic private information protection and open use of Internet rules. Google’s changes are expected to go into effect on March 1.The comments come after
TechnologyFeb. 12, 2012
-
Sagging Asian economy to hit Korea’s GDP
Growth of exports to China slows; major Asian nations post unfavorable indicesWorries are growing over the possibility that Korea’s economic growth will be undermined by the gloomy indices of major Asian countries.Apart from the eurozone debt crisis, Asian countries facing symptoms of an economic slowdown include China, Japan, India, Indonesia and Vietnam, according to think tanks at home and abroad.Economists say there is a possibility that the Chinese economy could undergo a hard landing due m
Feb. 12, 2012
-
Lexus, Volvo most recalled cars in Korea
28,000 imported cars called back for defects in 2011The number of imported cars subject to recalls for manufacturing faults has surged over the past five years.According to the Ministry of Land, Transport and Maritime Affairs, more than 28,000 imported cars were recalled in 2011, while the number remained below 8,000 in 2006.As foreign automakers saw their 2011 sales reach 105,037 units last year, the figure is equivalent to about 27 percent of the imports sold here.Lexus, the premium brand of
MobilityFeb. 12, 2012
-
BMW fined $3 million by U.S. for delaying auto defect reports
Bayerische Motoren Werke AG, the world’s largest premium automaker, must pay a $3 million U.S. civil penalty for delays in reporting auto-safety defects and recalls of about 338,700 vehicles in 2010.Munich-based BMW’s fine is the largest related to safety by the U.S. National Highway Traffic Safety Administration, the investigator of automobile defects and regulator of recalls, since the record $16.4 million levied against Toyota Motor Corp. in 2010. It’s NHTSA’s second-largest penalty since at
MobilityFeb. 12, 2012
-
Imported car registration tops 600,000
The number of imported vehicles that were registered in South Korea surpassed the 600,000 mark for the first time last month as demand grows among local consumers for cars manufactured by overseas automakers, data showed Sunday.A total of 606,825 imported cars were registered as of the end of January, up from the 597,766 vehicles registered the previous month, according to the data from the Korea Automobile Importers and Distributors Association (KAIDA).The local market for imported cars has bee
MobilityFeb. 12, 2012
-
Imported car registration tops 600,000
The number of imported vehicles that were registered in South Korea surpassed the 600,000 mark for the first time last month as demand grows among local consumers for cars manufactured by overseas automakers, data showed Sunday.A total of 606,825 imported cars were registered as of the end of Januar
MobilityFeb. 12, 2012