The Korea Herald

S-Oil donates W500 million for Japan

S-Oil Corp., the nation’s third-largest refiner, entrusted the Community Chest of Korea with a relief fund totaling 500 million won ($440,000) to support Japan, company officials said Sunday.“As Japan is now undergoing an unimaginable difficulty due to last week’s massive earthquake, we decided to provide humanitarian aid for the country,” S-Oil CEO Ahmed A. Subaey said. S-Oil CEO Ahmed A. Subaey

IndustryMarch 20, 2011

KEPCO denies rumors of importing UAE nuke waste

Utility firm seeks court order banning magazine report on possible import of fuelThe state-run Korea Electric Power Corp. said on Saturday that it has filed for injunction in a Seoul court calling for the banning of the distribution of the monthly Shindonga magazine. They argue that its news report that Korea may be responsible for the disposal of nuclear waste from the planned nuclear power plant

IndustryMarch 20, 2011

Honda suspends orders for Japan-Built car

Honda Motor Co., the Japanese carmaker that builds most of the autos it sells in the U.S. at North American plants, is temporarily halting orders from U.S. dealers of Japan-built models after a suspension of production there following last week’s earthquake.Honda informed U.S. Honda and Acura dealers, who typically order vehicles six weeks in advance, of the suspension yesterday in a memo, said Ch

MobilityMarch 20, 2011

New BMW R1200R hits local market

BMW Korea launched the new R1200R roadster motorcycle on the local market on Tuesday. The bike is fitted with a 1,170 cubic centimeter engine that puts out 110-brake horsepower, and manages 24 kilometers per liter when traveling at 90 kilometers per hour. BMW R1200RThe vehicle also comes with a number of safety features including automatic stability control and anti-lock braking systems as standa

MobilityMarch 20, 2011

Harley-Davidson to fix faulty oil tank

Harley-Davidson Korea announced on Wednesday that oil tanks fitted in 833 XL Sportster and XR1200 vehicles sold in Korea will be replaced due to faults that may develop in cold conditions.According to the company, oil tanks fitted in model year 2004 to 2009 XL Sportster motorcycles and 2009 XR1200 could become damaged when condensation within the tank freezes in low temperatures. The company will

MobilityMarch 20, 2011

Hyundai adds diesel engine to i30 lineup

Hyundai Motor Co. added the new U2 diesel engine to the i30 and i30CW compact car lineup on Wednesday. The new 1.6-liter U2 diesel engine puts out 128-brake horsepower, and manages 18.1 kilometers per liter with automatic transmission, and 22 kilometers per liter with manual transmission, which according to the company is about 10 percent more efficient than the older diesel engine. i30The engine

MobilityMarch 20, 2011

Hyundai adds diesel engine to i30 lineup

Small vehicles shine amid oil hikes

City car sales jump 45% in Feb. on low costs, convenience, numerous incentivesYoon So-ra had been dreaming of a sleek, smooth-driving sedan for her first car. After three years on her first job, the 27-year-old office worker is now more budget-conscious and leaning toward cheaper, energy-saving small cars.“I first thought of buying a mid-size used car,” Yoon said while looking around a Kia Motor C

MobilityMarch 20, 2011

Jumbo size burger introduced at GS Supermarkets

A jumbo burger four times bigger than the McDonald’s bulgogi burger has hit the market.Named “The Greatest Burger,” it is has been available for sale since Friday at GS Supermarkets nationwide. The super-sized burger, which is 25 centimeters in diameter and weighs about 600 grams, is served in a cardboard box, not wrapped in a paper, as it is about the size of a regular-sized pizza. Although the p

March 20, 2011

Jumbo size burger introduced at GS Supermarkets

More Korean businesses join campaign to support Japan

Korean businesses including Hyundai Motor Group, SK Group and S-Oil have forged financial support for Japan in the aftermath of the massive earthquake and an ensuing tsunami it suffered last week, they said Thursday. Hyundai Motors Group will donate $1.3 million to Korean Red Cross which will be delivered to the Japanese Red Cross and be spent on buying blankets and food, it said. “We express our

IndustryMarch 20, 2011

More Korean businesses join campaign to support Japan

Toyota recalls Lexus vehicles in S. Korea on faulty floor mats

Toyota is voluntarily recalling its Lexus vehicles in South Korea to address problems with removable floor mats that could cause accelerators to get stuck, the country's transportation ministry said Sunday. RX350 (Yonhap News) Toyota Korea, the local distributor of the Japanese automaker, will recall 2,571 Lexus vehicles sold between February 2003 and July 2006. They include 2,292 Lexus RX330 c

MobilityMarch 20, 2011

Toyota recalls Lexus vehicles in S. Korea on faulty floor mats

Warren Buffett due in S. Korea

U.S. investor Warren Buffett will arrive in South Korea Sunday on a trip that includes a meeting with President Lee Myung-bak. The chairman and CEO of U.S. conglomerate Berkshire Hathaway will arrive in Daegu, a city located some 300 kilometers southeast of Seoul, to attend the groundbreaking ceremony on Monday of a company owned and directed by Berkshire Hathaway. Daegu-Tech, a metal-cutte

IndustryMarch 20, 2011

DuPont faces antitrust claims filed by Kolon

WASHINGTON -- South Korea's Kolon Industries Inc. has won a U.S. appeals court decision obliging a lower court to examine DuPont's alleged monopolization of the U.S. market for para-aramid fibers used for high temperature-resisting goods. "Whether Kolon's proffered relevant geographic market definition will hold up upon a fact-intensive inquiry remains to be seen," the U.S. Court of Appeals f

IndustryMarch 20, 2011

Teams race to reconnect power to Japan nuke plant

FUKUSHIMA, Japan (AP) -- Emergency workers racing to cool dangerously overheated uranium fuel scrambled Saturday to connect Japan's crippled reactors to a new power line, with electricians fighting tsunami-shattered equipment to restart the complex's cooling systems. Though the power line reached the complex Friday, making the final link without setting off a spark and potentially an explosio

TechnologyMarch 19, 2011

Hyundai Motor recalls 190,000 cars in U.S. on faulty airbag

Hyundai Motor Co., South Korea's top automaker, recalled 190,000 vehicles sold in the U.S. market on airbag-related defects, a U.S. government agency said on Saturday. According to the Web site for the U.S. National Highway Traffic Safety Administration (NHTSA), Hyundai issued an recall of about 190,000 Elantra sedans sold between 2006 and 2008 in the U.S. to repair a defect in airbag sensors

MobilityMarch 19, 2011

SDI agrees to pay US$32 mln in fines for price fixing conspiracy: Justice Dept.

WASHINGTON (Yonhap) -- South Korea's Samsung SDI Co. has agreed to pay US$32 million in fines for trying to fix the prices of color display tubes used for computer monitors, the Justice Department said Friday. "Samsung SDI Company Ltd. has agreed to plead guilty and to pay a $32 million criminal fine for its role in a global conspiracy to fix prices, reduce output and allocate market shares o

IndustryMarch 19, 2011

Massages of the world in Seoul

Find peace in the city with exotic massages including Swedish, Thai and IndianIf working hard has left you keen for a break, but you’re all out of holidays, then look no farther than Seoul. For exotic, blissful relaxation in the big city ― on a range of budgets ― let your mind travel and your body experience the pleasure of some of the world’s best massage traditions. Swedish massage at the Grand

TechnologyMarch 18, 2011

Samsung eyes record 2011 profit

Samsung Electronics Co. is aiming to set new records in annual operating profit and revenue this year though business conditions are expected to be unfavorable, its chief executive said Friday. Samsung, the world’s top memory chipmaker, posted an all-time high operating profit of 17 trillion won ($15 billion) in 2010. Its revenue also stood at a record high of 155 trillion won.“Market conditions i

IndustryMarch 18, 2011

SC First Bank to close 27 branches

Standard Chartered First Bank Korea, the local unit of Britain-based Standard Chartered Group, said Friday it plans to close 27 branches in the nation by June to improve efficiency.Employees at the closed branches will be relocated to other operations, said the lender which operates 418 branches in the nation.“SC First Bank plans to cut 27 small branches in a bid to boost efficiency and diversify

IndustryMarch 18, 2011

Hanwha opens U.S. solar research center

Hanwha Group said Friday that it has established a research center in Silicon Valley in the United States to develop next-generation solar energy technologies including solar cells.The establishment of Hanwha Solar America marks the group’s latest efforts to enhance its solar energy business. Its affiliate Hanwha Chemical Co. acquired 49.9 percent of Shanghai-based solar-products maker Solarfun Po

IndustryMarch 18, 2011

Carmakers cutting output due to supply shortage

Some automakers in Korea are considering reducing their output due to a shortage of parts from their Japanese suppliers hit by last week’s powerful earthquake, company officials said Friday.Renault Samsung Motors Co., Renault SA’s Korean unit, will cut production at its Korean factory to prepare for a potential parts supply disruption the company said. The carmaker will cut overtime work at its fa

IndustryMarch 18, 2011