Articles by 황장진
황장진
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Apple sued again over iPhone repairs
A Korean consumer has lodged a lawsuit with a Seoul court against Apple Korea demanding the company return the repair cost of her liquid-damaged iPhone 4, court officials said Tuesday.In the lawsuit filed with the Seoul Central District Court, the woman, only identified by her surname Kang, demanded Apple Korea return 290,000 won ($259), which the company charged her last month for exchanging the
Social Affairs March 22, 2011
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Korean retailers to halt imports of Japanese food
Korean retailers said Monday that they have decided to suspend imports of foods and products from Japan due to growing consumer concern over their possible contamination with radiation released from an earthquake-damaged nuclear power plant.Lotte Mart Co., Korea’s third-largest discount store chain, said it will not sell pollack which have mainly been imported from Japan, starting Tuesday.“Though
Industry March 22, 2011
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KOGAS develops biggest LNG tank
Korea’s state-run Korea Gas Corp. said Monday that it has developed a design technology for the world’s largest liquefied natural gas tank. The tank has a storage capacity of 270,000 kiloliters, up 35 percent compared with that of the largest existing tank, helping reduce the construction cost per LNG tank by 23.5 billion won ($20.9 million), KOGAS said in a statement. The company said it is consi
Industry March 21, 2011
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Korean financial sector awaits 2nd ‘big bang’
With President Lee Myung-bak’s appointment of a new government financial regulator earlier this year, reform is once again a serious topic in Korea’s one-step-forward, two-steps-back financial services industry.“The most revolutionary area (of reform) will be the introduction of hedge funds,” said Ernst J. Lee, spokesperson for the Financial Services Commission, echoing recent pronouncements by hi
March 21, 2011
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Small firms urged to improve competitiveness
Small and medium enterprises must take the lead in promoting balanced growth between large companies and their subcontractors, the commerce minister said Monday.In a meeting with heads of smaller companies, Knowledge Economy Minister Choi Joong-kyung said that in order for Korea’s economy to make the next leap forward, SMEs that largely act as subcontractors to conglomerates must become more globa
March 21, 2011
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Korea needs stronger won to tame inflation: experts
Korea needs to engineer the local currency’s ascent against the U.S. dollar rather than raise interest rates to contain inflation more effectively, experts said Monday.The government, however, remains opposed to the idea, saying the currency issue should be approached in a broader context as it could have far-reaching ramifications over the overall economy.The argument comes as Korea’s inflation l
March 21, 2011
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Hyundai Motor posts big sales gain in China
Hyundai Motor Co., Korea’s largest automaker, saw a great boost to its sales in China last month, becoming the third best-selling brand in the world’s largest market for automobiles, company officials said Monday.The company sold 50,717 vehicles in China last month, up 36.7 percent from the same period last year.The figure represents a near 30 percent drop from a month earlier when the company sol
Industry March 21, 2011
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Japan quake leads GM Korea to cut production
The Korean unit of General Motors said Monday it would reduce production this week by up to 10 percent because of a possible lack of parts from Japan following the devastating earthquake.GM Korea ― formerly GM Daewoo ― said it would stop four hours a day of overtime work from Monday at its plants in the western city of Bupyeong and in the southwestern port of Gunsan.The company said it would also
Industry March 21, 2011
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Korean consumers set sights on local food
Managers at Hansalim, Korea’s biggest cooperative of consumers, recently realized the depth of the food scare when they took a look at the surging number of their cooperative’s members. Established in 1986, Hansalim saw its membership swell by nearly 20 percent to 250,900 in January from a year ago, just by word of mouth. It spends almost nothing on public relations.The sharp increase in membershi
Industry March 21, 2011
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LCD prices keep falling after Japan quake
Prices of liquid crystal display panels have been falling since a devastating earthquake hit Japan earlier this month, industry data showed Monday, beating market forecasts that prices would trend higher on an undersupply.According to market research firm DisplaySearch, prices of LCD panels for 46-inch TVs came to $330 and those for 40 and 42-inch TVs stood at $234 as of Saturday, down about $4-14
Industry March 21, 2011
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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
Industry March 18, 2011
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Foreigners seeking refuge in Korea
Korea is serving as a temporary base for Japan-based employees of some multinational companies who are fleeing the quake-stricken country.Foreign governments are advising their citizens to get out of the country and mobilizing airplanes to evacuate them as health risk fears are growing from radiation leaks at the nuclear plant in Fukushima. A growing number of foreigners are arriving in Korea, air
Social Affairs March 18, 2011
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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
Industry March 18, 2011
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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
Industry March 18, 2011
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Korea to tighten quake rules on small buildings
Korea is seeking to tighten its construction code for smaller buildings in order to better protect them from massive earthquakes, the land and transportation ministry said Friday.The move comes as concerns are growing that Korea might not be immune from massive earthquakes like the one that hit Japan last week. Experts are also calling for the government to step up its efforts to better brace for
Industry March 18, 2011
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