The Korea Herald

Google to support Korean software globalization

Nov 7, 2011

Schmidt meets President Lee, chiefs of SK Telecom, KT and LG Uplus to discuss possible cooperation Google chairman Eric Schmidt pledged to support the globalization process of local software and content beginning next year in a meeting with President Lee Myung-bak on Monday. As part of a project called “Korea Go Global,” Google will offer a local software developer support program for it to gai...
Orion expects overseas sales to be boosted by Chinese arm

Nov 7, 2011

HONG KONG (Yonhap News) ― Orion Corp., South Korea’s second-largest confectionery company, expects that its overseas sales will grow next year, largely driven by robust sales in China, company officials said Monday. The company, best-known for its hallmark “Choco Pie,” projected that its overseas sales will grow 28.4 percent to 1.31 trillion won ($1.17 billion), likely to surpass its domestic sa...
Google chief vows support for Internet start-ups in Korea

Nov 7, 2011

Schmidt meets with President Lee, IT firms’ chiefs on cooperation in ’smart era’ Google chairman Eric Schmidt pledged to support Internet startups in Korea and create a K-pop-only channel on YouTube in the world’s most popular search engine. Schmidt, who currently serves as the board executive chairman of Google, disclosed the pledges during his meeting with President Lee Myung-bak at Cheong Wa...
FTC probes shoemakers for exaggerated ads

Nov 7, 2011

Korea’s Fair Trade Commission launched a probe into major footwear makers including Reebok, Ellesse and New Balance over ads allegedly exaggerating the shoes’ therapeutic benefits. According to the local press on Monday, the FTC has embarked on a comprehensive investigation of 11 shoemakers in Korea to check whether they put out exaggerated ads. “The FTC is currently collecting marketing, sales...
Cyworld starts global services in 7 languages

Nov 7, 2011

Cyworld has launched global services in seven languages on Monday amid the soaring popularity of Facebook in Korea. This is the second try for the homegrown social networking service with 23 million registered local members to go global following its failed attempt in 2005. “We failed because we tried to localize our services. But this time we aim to introduce a unique Cyworld platform for fore...
SK to build lubricant factory in Spain

Nov 7, 2011

SK Lubricant will build a lubricant base oil plant in Spain in collaboration with the Spanish oil firm Repsol YPF, SK Group announced Monday. According to the conglomerate, an SK Group delegation led by chairman Chey Tae-won met with Repsol chairman Antonio Brufau Niubo in Madrid on Friday and signed a letter of intent to build a base oil plant and to collaborate in other areas. Aside from the ...
KT third-quarter net dips 41 percent

Nov 7, 2011

South Korea's telecom titan KT Corp. said Monday that its third-quarter earnings dropped 41 percent from one year ago due mainly to currency loss and a decreased number of subscribers for mobile handsets and Internet services. Net profit reached 256 billion won (US$229 million) in the July-September period, compared with a profit of 431 billion won a year earlier, the country's second-largest mo...
Samsung, Google gain in Apple patent fight

Nov 6, 2011

Motorola’s win against Apple in Germany means rosy outlook for Android A German court’s recent decision to ban the sale of Apple products in Germany dealt a blow to the U.S. tech giant, while offering a positive outlook for Google’s Android alliance. Munich-based patent expert Florian Mueller said that the Mannheim Regional Court in Germany on Friday barred Apple from selling any mobile devices...
Asiana set to raise its fleet to 88 by 2015

Nov 6, 2011

Asiana Airlines Inc., South Korea’s No. 2 carrier, plans to raise its fleet to 88 by 2015 to meet growing demand for long-range routes and become a major global player, a company executive said. “Our long-term goal is to become the 10th biggest air carrier in the world in terms of operating margin,” said Kim Ebae, Asiana’s senior vice president for strategic planning, said in a session at the As...
Outside directors toothlessas corporate watchdogs

Nov 6, 2011

Antitrust authorities on Sunday raised questions about the role of outside board directors as corporate watchdogs, despite a slight increase in their number at large firms here. According to a report from the Fair Trade Commission, the portion of outside directors at the nation’s top 35 owner companies was 47.5 percent as of June 30, up from 46.3 percent a year earlier. The average at the natio...
Korea’s IT exports shrink in Oct.

Nov 6, 2011

South Korea’s exports of information technology products reached the third largest monthly volume in the country’s history last month, though they dropped slightly from a year earlier when the country posted record shipments, the government said Sunday. The country shipped $13.79 billion worth of IT products in October, down 2.2 percent from the same month last year, according to the Ministry of...
Google to strengthen ties with Korea tech giants

Nov 6, 2011

Schmidt in Seoul to meet Samsung executives, CEOs of telecom carriers Attention is being paid to the visit by Google chairman Eric Schmidt to Seoul on Monday, which experts said is aimed at forging a stronger partnership with local electronics and telecommunication giants. Government officials and tech industry analysts are speculating that the Google founder may bring “gifts” for the nation’s ...
Samsung sets new TV sales record in U.S.

Nov 6, 2011

Samsung Electronics said Sunday that its television sales in the North American market topped 1 million units last month, setting a new monthly sales record among all TV makers. The world’s biggest flat-screen TV maker said the October sales figure indicates that it sold one of its TVs ― including liquid-crystal display and light-emitting diode TV sets as well as 3-D and smart TVs ― every three ...
Big firms banned from tofu, 24 other businesses

Nov 4, 2011

A presidential panel to promote shared growth on Friday released an updated list of 25 industry sectors where conglomerates will be advised to withdraw or have their business expansion restricted. The Commission on Shared Growth for Large and Small Companies said large companies will be banned from expanding into over-competitive sectors or those traditionally occupied by small businesses, inclu...
Lotteries booming in Korea

Nov 4, 2011

Emergence of pension lottery jumpstarts the boom Korea is in the grip of lottery fever. The nation is on course to sell 3 trillion won ($2.69 billion) worth of tickets this year, up 25 percent from 2010. The Finance Ministry, in charge of lotteries, has stopped its TV promotions with celebrities in an effort to slow the industry’s growth. The explosive popularity of lotteries this year isn’t j...