The Korea Herald

HHI wins wind power generator contract

Hyundai Heavy Industries Co. announced Wednesday that it signed a contract to supply eight wind-power generators to a Finnish power company.According to Hyundai Heavy, this is the first time a Korean company has been contracted to supply wind-power generating equipment to a European country. Under the contract, Hyundai Heavy will deliver eight 2-megawatt wind-power generators to Finnish Power to b

IndustryApril 6, 2011

LSIS shows wares at German expo

LSIS, a local electric equipment manufacturer, is taking part in the Hannover Messe exhibition as it gears up to expand its global operations, the company said Wednesday.The company said that its exhibits at the show, which is held in Hannover, Germany until Friday, includes power control and automation products, and green business solutions such as electric car chargers, and solar energy solution

IndustryApril 6, 2011

[Meet the CEO] Korea Investment seeks hedge fund edge

CEO Ryu says brokerage will lead market on its strength in wealth management, risk controlKorea Investment & Securities is enhancing its private equity operations as the nation’s major brokerage seeks to get ahead in the burgeoning domestic hedge fund industry.Chief executive officer Ryu Sang-ho said the company will launch a hedge fund-style investment vehicle this month to bet local stocks and f

April 6, 2011

[Meet the CEO] Korea Investment seeks hedge fund edge

Hyundai Mobis focuses on technology, environment, human values

Latest products from Korea’s top auto parts maker turn heads at Seoul Motor ShowHyundai Mobis Co., South Korea’s largest automobile parts manufacturer, is grabbing the limelight at the Seoul Motor Show with its latest products emphasizing environmental and human values as well as technological edge. The event is underway at the KINTEX exhibition center in Goyang, Gyeonggi Province on the largest s

MobilityApril 6, 2011

Hyundai Mobis focuses on technology, environment, human values

S. Korea to inject 54.3 bln won into smart TV development

The government said Wednesday that it plans to inject 54.3 billion won (US$49.8 million) this year to help local companies maintain their lead in the global smart TV market.The joint plan announced by the ministries of knowledge economy and culture, and the Korea and Communications Commission calls for concerted efforts to build up smart TV-related contents and the establishment of a viable Intern

IndustryApril 6, 2011

Bundang residents lead healthiest lifestyle: study

(MCT)Bundang has the lowest smoking and drinking rates among cities in Gyeonggi Province, statistics showed Monday. The research was conducted on 41,000 Gyeonggi residents who visited local health care centers in the region in September, October and November. Among the visitors, residents of Bundang, one of the wealthiest cities in Gyeonggi province, showed the lowest smoking rate at 17.2 percent.

TechnologyApril 6, 2011

Bundang residents lead healthiest lifestyle: study

Merck donates $1.2m to help Japan

Leading German pharmaceutical and chemical firm Merck KGaA said Thursday that it will donate $1.2 million to help relief works in Japan.Most of the amount will be entrusted to Save the Children, while the rest will go to Merck’s Japanese subsidiary which will decide on the use of the money. “We sincerely hope that the situation in Fukushima will be controlled soon … Merck will support Japan in tha

IndustryApril 5, 2011

[News focus] Telecoms brace for bandwidth auction

Regulator to sell rights to 2.1 GHz spectrum this year; major firms keen on acquiringKorean telecom carriers are engaged in a high-stake competition to win a new wireless broadband spectrum which the state media regulator Korea Communications Commission is to put on auction this year. Auctioning of the 2.1 gigahertz radio spectrum was part of the revised radio regulation law passed by the National

TechnologyApril 5, 2011

[News focus] Telecoms brace for bandwidth auction

Bernanke: Fed to improve financial oversight

Regulators to up supervision of nation’s financial plumbing to prevent another crisisWASHINGTON (AP) ― Regulators are working closely to strengthen oversight of inner workings of the nation’s financial system, part of a broader effort to prevent a repeat of the 2008 financial crisis, Federal Reserve Chairman Ben Bernanke said Monday.The financial overhaul law enacted last year directs the Fed and

IndustryApril 5, 2011

Bernanke: Fed to improve financial oversight

GM Korea launches Chevrolet Captiva

GM Korea Co., the Korean unit of U.S. automaker General Motors Co., unveiled the new Chevrolet Captiva sports utility vehicle in Korea on Tuesday.The new Captiva is the first Chevrolet SUV to be launched here since GM Korea, formerly GM Daewoo Auto & Technology, decided to replace all its GM Daewoo vehicles with Chevrolet models.The Captiva is the fifth Chevrolet vehicle to be launched here with t

MobilityApril 5, 2011

New share sale to boost prospects of Hynix sale: analysts

The stalled sale of Hynix Semiconductor Inc. is likely to speed up as creditors of the chip maker are considering selling new shares to resume efforts to unload their stakes, market watchers said Tuesday.Creditors of Hynix plan to resume the process to sell a 15 percent stake in the world’s No. 2 computer memory chip maker following a set of failed attempts to sell it. Investors have been wary of

IndustryApril 5, 2011

Korean companies hope to boost ties with Malaysia

Korean companies expect to step up cooperation with Malaysian businesses in the green energy sector, the head of a leading local business organization said Tuesday.“We want further cooperation (between the two countries’ companies) in the green energy sector such as in biofuels and batteries for electrical vehicles,” said Sohn Kyung-shik, chief of the Korea Chamber of Commerce and Industry (KCCI),

April 5, 2011

Korean companies hope to boost ties with Malaysia

SaKong to speak at Trilateral Commission

SaKong Il, chairman of Korea International Trade Association and G20 Summit Korea Coordination Committee, will attend the Trilateral Commission annual meeting April 8-10 in Washington, KITA said Tuesday.SaKong will address the “G20 and global governance” at the meeting which will also be attended by officials including former Canadian Prime Minister Paul Martin and Lawrence Summers, former U.S. Tr

IndustryApril 5, 2011

SaKong to speak at Trilateral Commission

Hotel Shilla faces tax audit: officials

The National Tax Service has launched an inspection into Hotel Shilla, led by Samsung Electronics chairman Lee Kun-hee’s eldest daughter Lee Boo-jin, officials said Tuesday.The first tax inquiry into the company since 2006 is expected to focus on recent business developments, including its successful negotiations with Louis Vuitton to open a store for the French designer brand in Incheon Internati

IndustryApril 5, 2011

[Herald interview] U.S. law firm hopes for opportunities with Korean investors

While the U.S. is a major market for financial investors across the world, its complex financial laws represent a major hurdle for those looking to invest in the country. For the New York-based law firm Kirby McInerney LLP, which specializes in complex commercial litigations, that blind spot offers handsome opportunities for business with largely Asian investors who need help to navigate through i

IndustryApril 5, 2011

[Herald interview] U.S. law firm hopes for opportunities with Korean investors

Hanwha sets up solar energy firm

Hanwha Group said Tuesday it has launched new company to spearhead its expanding solar power business at home and abroad.The new venture, named Hanwha Solar Energy, will be at the center of the group’s vertically integrated solar energy business, from equipment to facilities to power generation. It will also push for cooperation with partners in North America and Europe, the company said. The firm

IndustryApril 5, 2011

S-Oil cuts prices of gasoline, diesel

S-Oil Corp., Korea’s third-largest oil refiner, said Tuesday that it will cut the supply prices of its gasoline and diesel by 100 won ($0.9) per liter starting Thursday, following market leader SK Innovation’s suit.The firm’s directly managed stations nationwide will thus reduce its retail fuel prices by the amount, it said. The price reduction will last for three months.“We made the decision in o

IndustryApril 5, 2011

Inflation picture worsens as food prices rise

Leading processed food companies and franchises have upped their prices in the past week, adding to the already-high inflationary pressure.The industry-wide increase arrived following an almost 10 percent price hike by sugar manufacturers in December. The industry’s No. 4 DongA One said it will raise wholesale prices of flour by 8.6 percent starting Tuesday.Haiti Confectionary & Foods increased wh

April 5, 2011

Ho-Am prize recognizes social contributions

Ho-Am Foundation on Tuesday awarded the Ho-Am Prize to four individuals and one institution to recognize their contribution to improving human lives and promoting public welfare.This year’s prizes went to Professor Ha Taek-jip of the University of Illinois for science, Professor Thomas Lee of Standford University for engineering, Professor Augustine Choi of Harvard Medical School for medicine, vio

IndustryApril 5, 2011

Ho-Am prize recognizes social contributions

Budget deficit less than forecast

Korea’s government budget deficit and liabilities in 2010 came in at less than previously forecast, thanks mainly to faster-than-expected growth in Asia’s fourth-largest economy, the Finance Ministry said on Tuesday.The government debt grew more than 30 trillion won ($27.6 billion) last year from a year earlier as the government had to expand borrowing to fill its budget shortfalls.According to a

April 5, 2011