Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Korean, Romanian leaders discuss defense tech, nuclear energy
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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Household debt threatens bank industry
BOK report shows debts surpassed 800 trillion won for the first time in Q1 of the yearSnowballing household debts have emerged as a main factor undermining financial status of the middle- and low-income brackets of the local banking industry.According to the Bank of Korea, the nation’s household debts have surpassed 800 trillion won for the first time during the first quarter of the year.Outstandi
May 25, 2011
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Shares fall 1.26% on eurozone woes
Korean stocks finished 1.26 percent lower on Wednesday as foreigners extended their selling amid concerns over Europe’s debt risks, analysts said. The local currency lost ground against the U.S. dollar.After starting higher, the benchmark Korea Composite Stock Price Index slumped 25.89 points to 2,035.87. Trading volume was moderate at 341.8 million shares worth 6.84 trillion won ($6.2 billion), w
May 25, 2011
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Finance chief-nominee to prioritize inflation fight
Finance minister nominee Bahk Jae-wan said the fight against inflation will stay as the priority with focus on flexible macroeconomic measures, revealing his intention to maintain the policy stance currently in place.Answering questions at the parliamentary confirmation hearing on Wednesday, Bahk said he will try to make people in the middle class and low-income brackets feel the improving busines
May 25, 2011
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Korea should be watchful of uncertainties: experts
Korea should be alert against economic uncertainties at home and abroad, such as the eurozone debt crisis and household debt, as they will serve as downside risks to the growth path, experts said.The Korean economy has maintained its upward momentum, aided by sustained exports, but its growth path is fraught with a set of economic uncertainties, which warrant a close watch, experts said in a month
May 25, 2011
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Korea to get tougher on ‘unfair trading’
Korea plans to clamp down on stock market manipulation and trading on undisclosed information after $26 billion was wiped from the value of the nation’s listed companies in a matter of minutes last November.The Financial Services Commission is drafting revisions to capital-markets laws to increase penalties, said Ernst Lee, a spokesman at the regulator. The revisions, which will require approval b
May 25, 2011
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Hana calls emergency meeting on Lone Star
Board to discuss on eurozone woes possible extension of KEB takeover dealHana Financial Group plans to hold an emergency board meeting as early as this week to conclude the issue on whether to extend the expiry date of a takeover deal with U.S. Lone Star Funds.The initial contract between Hana and Lone Star to trade shares of Korea Exchange Bank expired on May 24 and they have all been entitled to
May 25, 2011
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[Herald Interview] Chile beckons Korean entrepreneurs
Recent university graduates face the daunting task of figuring out what to do with the rest of their lives. Chile might have an answer for graduates with tech ideas. “Startup Chile is a program that’s aimed to attract innovation and obtain the positive spillover effects of technology ventures,” said Chile Executive Vice President of the Foreign Investment Committee Matias Mori.The idea is to attra
IndustryMay 25, 2011
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[Herald Interview] Zippo to ignite new flame in Korea: exec
Zippo, most widely known in Korea and around the world for its portable lighters dating back to the second world war, is aiming to rebrand in efforts to reach out to more consumers in search of individuality.“On a global basis, Zippo is moving aggressively from a lighter manufacturing company to a lifestyle products marketing company,” David B. Warfel, the global marketing director of Zippo Manufa
IndustryMay 25, 2011
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How do Korean CEOs cope with stress?
Top businessmen seek extreme sports, photography and paintings to relieve tensionWhen talking about the country’s top businessmen, stress may seem to come with the job. While a great motivator, stress can cripple not only physical and emotional health but also concentration and creative thinking. To tackle such risks, CEOs adopt various strategies. It can be extra work in some cases, or extreme sp
IndustryMay 25, 2011
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Apple, Samsung in talks over displays for iPad 3
Samsung's Galaxy S 2 smartphones (Yonhap News)‘Apple COO Tim Cook visited Korea to discuss bilateral cooperation’ Apple Inc.’s chief operating officer Tim Cook discussed adopting Samsung’s AMOLED display technology for tablet PCs during his recent visit to South Korea, industry sources said.“Apple wants to tap into Samsung’s AMOLED technology for an upgraded version of the iPad 2, considered as m
IndustryMay 25, 2011
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Apple, Samsung in talks over displays for iPad 3
Samsung's Galaxy S 2 smartphones (Yonhap News)Apple COO Tim Cook visited Korea to discuss bilateral cooperationApple Inc.’s chief operating officer Tim Cook discussed adopting Samsung’s AMOLED display technology for tablet PCs during his recent visit to South Korea, industry sources said.“Apple wants to tap into Samsung’s AMOLED technology for an upgraded version of the iPad 2, considered as many
IndustryMay 25, 2011
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Peugeot 508 makes Asia-premier debut in S. Korea
Hanbul Motors Corp., the local importer and distributor of French automaker PSA Peugeot Citroen, introduced the new Peugeot 508 in South Korea on Wednesday, also marking the vehicle's Asia debut. The passenger sedan comes in two trims -- the chaste Allure version with a 2.0-liter engine and the sportier GT version with a 2.2-liter HDi engine. The Peugeot 508 Allure has a maximum horsepower
MobilityMay 25, 2011
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Brooding men, smiling women seen as sexy: study
TechnologyMay 25, 2011
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5 pct of youth vulnerable to Internet addiction: study
About 5 percent of South Korean youths are vulnerable to Internet addiction, a government study showed Wednesday. According to a joint report on Internet usage of 1.81 million students by the Ministry of Gender Equality and Family and the education ministry, 89,755, or 4.9 percent, were deemed at risk of falling into cyber addiction. Of those, 23,085 were put in the high-risk category, while
TechnologyMay 25, 2011
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Police raid auto parts firm to end sit-in
Yoosung labor union’s strike stops some Hyundai, Kia diesel linesThousands of riot police raided the labor strife-marred auto parts’ factory in Asan on Tuesday to end the prolonged illegal strike by unionized members, which is threatening suspension of production in the nation’s automobile industry, witnesses said.About 3,000 riot police were sent to the factory of Yoosung Enterprise Co. about 90k
IndustryMay 24, 2011
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SK Group to finance fund for social enterprises
SK Group, the country’s third-largest conglomerate, said Tuesday it will invest 500 million won ($457,200) in a fund to support social enterprises as part of its corporate responsibility activities. In January, the Ministry of Employment and Labor unveiled a plan for the fund, the first of its kind here, aiming to facilitate financing for social enterprises seeking to expand facilities, provide mo
IndustryMay 24, 2011
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Agencies upgrade Asiana credit rating
The country’s three credit rating agencies in concert lifted their ratings of corporate bonds for Asiana Airlines Inc. one notch to “BBB+” from “BBB” Tuesday, citing increased profitability and growing demand for air travel.NICE Investors Service, Korea Ratings and Korea Investors Service referred the raise to the company’s all-time high operating profit last year, success in slashing fuel expense
IndustryMay 24, 2011
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Hyundai Heavy adds order pickers to its industrial equipment lineup
The Ulsan-based ship and industrial equipment maker Hyundai Heavy Industries launched its first order pickers on the local market on Tuesday. Order pickers are industrial vehicles used in storage facilities to access high shelves.Order pickers are similar to fork lifts but the operator boards the vehicle in the front where the forks are located, and are able to access smaller areas than fork lifts
IndustryMay 24, 2011
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Seven banks to set up bad bank soon
Total contribution expected to amount to 1.23 trillion wonA bad bank, which would specialize in absorbing bad loans held by financial companies, will be set up as early as this month, banking sources said Tuesday.“The bad bank may possibly be launched by the end of this month,” a bank official said. “But the launch could be delayed into next month due to the time needed to fine-tune terms of the b
IndustryMay 24, 2011
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Korea aims to launch 1st local hedge fund
Korea is moving to quicken a regulatory revision in a bid to launch the first local hedge fund within the year, an official at the financial regulator said.The Financial Services Commission had planned to submit a revision bill to the capital market law to parliament in July or August as part of its efforts to spur the creation of local hedge funds. Instead of rewriting the law, the FSC will seek
May 24, 2011