The Korea Herald

Local firms to show 4G tech at Barcelona

Local firms are moving quickly to present their fourth-generation mobile communication network technology Long Term Evolution at the global mobile industry show in Barcelona this week.Samsung Electronics and KT Corp. announced on Sunday that they will cooperate with global chipmaker Intel to test the new LTE technology at the 2011 Mobile World Congress from Feb. 14-17.The next generation mobile co

TechnologyFeb. 13, 2011

Local firms to show 4G tech at Barcelona

BOK may raise rates in March over price pressures

The Bank of Korea may raise borrowing costs again as early as March to counter inflation pressures after unexpectedly leaving policy unchanged Friday. Governor Kim Choong-soo and his officials held the seven- day repurchase rate at 2.75 percent in a split decision, after economists had forecast a quarter-point increase. Goldman Sachs Group Inc. and HSBC Holdings Plc say the next move will be next

Feb. 13, 2011

Foreigners turn net sellers of local shares

After spearheading last year’s bull run of the Korean market, foreigners have shifted to big net sellers of local shares this year due to concern over global inflation and other negative factors, industry sources said Sunday.As of Friday, foreign investors sold a net 2.06 trillion won ($1.83 billion) worth of Korean stocks, according to the Korea Financial Investment Association and Hana Daetoo Se

Feb. 13, 2011

Baby Audi SUV to debut at Frankfurt

INGOLSTADT, Germany (DPA) ― Audi’s new baby sports utility vehicle, the Q3, is expected to debut at the Frankfurt Motor Show in September, adding spice to the small compact SUV sector in competing against the BMW X1 and the upcoming Mercedes BLK.Spy shots reveal design details from the A1 and Q5 with the technical platform coming from the VW Golf and VW Tiguan.The engine range is also likely to co

MobilityFeb. 13, 2011

GM Daewoo receives orders for Orlando

GM Daewoo Auto and Technology Co. announced Sunday that it will receive orders for the Chevrolet Orlando minivan from Monday. Unveiled on Feb. 9, the vehicle is scheduled for launch on March. 2.The vehicle, which has been dubbed Active Life Vehicle by the company, is the first of the eight Chevrolet models the company will launch here this year. OrlandoThe car comes with a 2-liter turbocharged die

MobilityFeb. 13, 2011

Hyundai tops U.S. customer loyalty survey

Hyundai Motor Co. announced Wednesday that it was ranked top among carmakers in a U.S. survey for customer loyalty for the second consecutive year in a survey conducted by the market research firm Brand Keys Inc.According to the carmaker, Brand Keys survey results carry significant weighting with U.S. consumers and can contribute to retaining and expanding the customer base. In addition, Hyundai a

MobilityFeb. 13, 2011

Service for post-warranty Porsches

Stuttgart Sports Cars, the official importer of Porsche vehicles, is offering free checkup services and discounts on maintenance fees for Porsche vehicles with expired warranties until March 19.The offer is limited to vehicles purchased through the company before January 2007. During the period, those with vehicles meeting the requirements will be offered a 15 percent discount on parts, and 10 per

MobilityFeb. 13, 2011

Power package makeover for new Mercedes CLS 63 AMG

STUTTGART, Germany (DPA) ― Mercedes has given the CLS 63 AMG a makeover with the top-of-the-range version of the four-door coupe equipped with the newly developed AMG V8 bi turbo engine with an output of 410 kW/557 hp.At the same time fuel consumption has been reduced to 9.9 liters per 100 kilometers, an improvement of 32 percent compared to the predecessor model, according to the car maker.A majo

MobilityFeb. 13, 2011

Power package makeover for new Mercedes CLS 63 AMG

Chrysler considering natural-gas engines for Ram truck brand

Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, is exploring the possibility of adding compressed natural-gas powered engines to its Ram truck brand, a top executive said.“I’m eager and very interested to see what we can do with CNG in our truck applications,” Fred Diaz, head of the Ram brand, said Thursday in an interview at the Chicago Auto Show.Fiat, which holds a 25 percent stake

MobilityFeb. 13, 2011

U.S. reviews VWs over engine stalls, loss of power

Volkswagen AG vehicles are under review by the U.S. National Highway Traffic Safety Administration after reports of engines stalls that may be related to fuel-pump failures.The auto-safety regulator received reports of one accident and 160 complaints from owners and the company about engine loss of power and stalling, NHTSA said in a posting on its website Saturday. The power loss and stalling was

MobilityFeb. 13, 2011

Performance back in focus at Chicago

The Chicago Auto Show, the United States’ oldest and largest auto exhibition, opened to the public on Friday with many carmakers showing off their latest high-performance vehicles, breaking from the recent trend of highlighting cleaner vehicles.South Korea’s largest carmaker Hyundai Motor Co., which had used recent international industry events had showcase new design concepts and eco-friendly tec

MobilityFeb. 13, 2011

Toyota said to cut board by half in biggest shake up in 8 years

Toyota Motor Corp., the world’s largest automaker, plans to cut its board to at least 17 members from the current 27 to improve decision-making after a series of product recalls in its biggest management reorganization in 8 years, two people familiar with the company’s plan said. Toyota currently has 27 directors, including the chairman, president, six executive vice presidents and 15 senior manag

IndustryFeb. 13, 2011

Toyota said to cut board by half in biggest shake up in 8 years

GM, Chrysler plan 50% bonus to execs

General Motors Co. and Chrysler Group LLC, which each received government-funded bailouts, may award some managers bonuses of as much as 50 percent of their salary, said four people familiar with the plans. GM plans to pay bonuses to most managers equal to 15 percent to 20 percent of their annual salary and as high as 50 percent to less than 1 percent of its 26,000 U.S. salaried employees, said on

IndustryFeb. 13, 2011

Samsung unveils upgraded Galaxy S, Galaxy Tab

Samsung Electronics unveiled the upgraded versions of its flagship smartphone Galaxy S and its tablet PC Galaxy Tab for the first time in an event held a day before the launch of the global mobile industry show in Barcelona on Sunday.In an event called “Samsung Mobile Unpack,” the world’s second-largest handset maker presented Galaxy S 2 and Galaxy Tab 10.1, while designating 2011 as the year of s

TechnologyFeb. 13, 2011

Samsung unveils upgraded Galaxy S, Galaxy Tab

S. Korean mobile carriers to showcase 4G technology solutions in Spain

BARCELONA, Spain (Yonhap) -- South Korean mobile carriers are set to demonstrate in Spain their solutions to the surge in data traffic with fewer base stations and lesser costs, carriers said Sunday. (Yonhap News)KT Corp. and SK Telecom Co. said they can shrink the amount of initial network investment and operation fees with their latest cloud-based long term evolution (LTE) technology, the fourt

IndustryFeb. 13, 2011

S. Korean mobile carriers to showcase 4G technology solutions in Spain

Prices of daily necessities up in Jan.: report

Prices of many daily necessities increased in January despite government efforts to fight rising inflation, a report by the state-run consumer protection watchdog showed Sunday. The report by the Korea Consumer Agency showed that of the 80 everyday consumer necessities monitored such as sugar, cereals and detergents, prices for 53 of the products, or 66.3 percent, went up in the cited month co

Feb. 13, 2011

Korea strives to curb home rent prices

Policymakers plan to expand financial benefits for tenants and further ease regulations to control surging housing rent prices in the country, the Ministry of Land, Transportation and Maritime Affairs said Friday.The latest set of measures is particularly targeted at reducing the deposits for “jeonse,” a Korean rent system under which tenants pay a lump-sum deposit to rent a house for a certain te

Feb. 13, 2011

NASA comet hunter finds its date on Valentine's Day

A U.S. spacecraft’s long-awaited rendezvous with a comet will finally be realized on Valentine’s Day. The comet explorer Stardust-NExT (New Exploration of Comet Temple 1) will approach the comet Temple 1 at a distance of only 200 kilometers at 8:37 p.m., PST, Feb. 14 (1:37 p.m., Feb. 15 in Korea) and NASA will broadcast the encounter live on NASA Television and the agency’s website from 8:30 p.m.

TechnologyFeb. 12, 2011

NASA comet hunter finds its date on Valentine's Day

KOSPI falls below 2,000

Seoul stocks plunged to a two-month low on Friday as foreigners continued their selling spree and an interest rate freeze stoked investor jitters, analysts said.The benchmark Korea Composite Stock Price Index sank 31.31 points, or 1.56 percent, to 1,977.19, extending a losing streak to a fourth session. The benchmark index fell below the 2,000-point level for the first time this year, sinking to i

Feb. 11, 2011

Central bank puts off key rate hike

The Bank of Korea kept its benchmark interest rate for February unchanged Friday despite growing inflationary pressures, which may invite severe criticism in the market.The central bank’s Monetary Policy Committee kept the key rate untouched after it raised it by 25 basis points to 2.75 percent in January. The bank only confirmed its earlier stance for a gradual rate hike.Like several past cases,

Feb. 11, 2011