The Korea Herald

A different driving experience

The Korea Herald, in cooperation with carmakers, offers a test-driving experience to executive officials at Korean or multinational companies or ranking diplomats here. The opinion below is the author’s own. For any inquiry into this column, please contact jylee@heraldcorp.com. ― Ed.When the Panamera was unveiled by Porsche, a renowned brand that represented an uncompromising motor sports for the purists, my feelings were very mixed. Of course, we have the Cayenne SUV, which was an even bigger s

MobilityMarch 3, 2013

Hopes riding high for new Mercedes-Benz CEO

Britta Seeger officially stepped behind the wheel of Mercedes-Benz Korea as chief executive last week.She will be the first foreign woman to head an import car firm.That in itself was enough to make headlines in Korea, where automakers are still defined by masculinity.A host of women recently rose to executive posts in the industry, but Seeger is a rarity in that she is both a woman and a non-Korean. It would be an understatement to say she has a lot on her plate as such. Unlike her predecessor,

MobilityMarch 3, 2013

Hopes riding high for new Mercedes-Benz CEO

Samsung Electronics apologizes for hydrofluoric acid leakage

A senior official at Samsung Electronics Co. apologized on Sunday for problems caused by the hydrofluoric acid leakage at the company's chip plant in late January, vowing to prevent the recurrence of similar accidents. Hydrofluoric acid, a colorless acute poison that can damage the lungs and bones and even affect the nervous system, leaked from Samsung Electronics' semiconductor plant in Hwaseong, 60 kilometers south of Seoul, on Jan. 28, killing one worker and injuring four others. Samsung

IndustryMarch 3, 2013

Samsung Electronics apologizes for hydrofluoric acid leakage

Study: Volcanoes have climate effect

The reason why Earth did not warm as much as expected between 2000 and 2010 could be down to dozens of volcanoes spewing sulfur dioxide, U.S. scientist say.A team led by the University of Colorado Boulder said emissions from moderate volcanoes around the world might have masked some of the effects of global warming.Sulfur dioxide emissions from Earth's surface eventually rise 12 to 20 miles into the stratospheric aerosol layer of the atmosphere, where chemical reactions create sulfuric acid and

TechnologyMarch 3, 2013

Banks' home loans with fixed rates rise

The portion of South Korean banks' household loans with fixed rates surpassed the 20 percent level in January on the regulator's push for a soft landing of household debt problems, data showed Sunday. Local banks' household loans with fixed rates accounted for 21.8 percent out of outstanding home lending in January, up from 9.5 percent a year earlier, according to data by the central bank. It marked the first time that the weight of such lending surpassed the 20 percent level, it showed.

March 3, 2013

S. Korea's exports to ASEAN on the rise

The Association of Southeast Asian Nations has replaced the United States and Europe as South Korea's biggest export market for the second month in a row in January, government data showed Sunday. ASEAN's 10 member countries accounted for 14.5 percent of South Korea's exports in January, compared with 12.4 percent for Europe and 11.6 percent for North America, according to the Korea International Trade Association. South Korea's exports to the ASEAN nations have been on the rise since its po

March 3, 2013

Seoul shares expected to trade higher despite budget cuts in U.S.

South Korean stocks are expected to trade higher next week despite automatic spending cuts in the United States, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 0.1 percent to 2,026.49 on Friday from the previous week.The KOSPI rebounded later this week as Ben Bernanke, the chairman of the U.S. Federal Reserve, made comments that suggested a continuation of the monetary easing policy.Weekly foreign net-buying totaled 70 billion won (US$64 million), while

March 2, 2013

U.S. judge cuts Apple award in suit against Samsung

SAN FRANCISCO (Yonhap News) -- Overturning her previous ruling, a U.S. federal judge in charge of a Samsung-Apple patent suit on Friday almost halved Samsung's penalty.U.S. District Judge Lucy Koh ordered Samsung to pay Apple $598.9 million, about $450 million less than before.In a ruling in August, Koh set Apple's award at $1.05 billion, accepting the jury's conclusion that the South Korean tech giant infringed on some of Apple's patents.The jury said Samsung copied some designs and technologie

IndustryMarch 2, 2013

Asia stocks muted as China manufacturing weakens

TOKYO (AP) -- Stock markets in Asia were mixed Friday as China's manufacturing waned and many investors watched for progress on resolving an impasse that could bring on drastic spending cuts by the U.S. government.China's manufacturing grew at its weakest rate in five months in February as demand faltered and factories shut down for the Lunar New Year holiday. Economic data from Japan showed a slight improvement in unemployment but a plunge in business investment and persisting deflation. That d

March 1, 2013

S. Korea logs trade surplus for 13 straight months in Feb.

South Korea's trade balance posted a surplus last month, continuing to stay in the black for the 13 consecutive month, as a drop in imports outstripped a fall in exports, the government said Friday.The country's exports came to US$42.32 billion in February, down 8.6 percent from a year earlier, according to the Ministry of Knowledge Economy. Imports sank 10.7 percent on-year to $40.26 billion, leaving a $2.06 billion trade surplus.Last month's fall contrasts with the on-year growth in both expor

March 1, 2013

Faltering Yongsan project finds breakthrough

The controversial Yongsan development project, which had been on the verge of bankruptcy, found a breakthrough on Thursday as two major shareholders reached an agreement ending confrontation on the project normalization plan. On Thursday, Lotte Tour Development, the second-largest shareholder of Dream Hub, announced that it accepted the normalization plan, offered by the state-run KORAIL, the largest shareholder in the project, in the hope of saving the nation’s largest property development proj

IndustryFeb. 28, 2013

One in five men to die single: data

Men have a greater chance of dying single than women, with one in five men born in 2010 estimated to be single at the end of their lives.About 79 percent of men born in 2010 are likely to succeed in marriage in their lifetime, compared with 85 percent for women. These are predictions based on current trends, according to a survey of marriage, divorce and birth data between 2000 and 2010 by Statistics Korea.More than 20 percent of men will pass away single, compared to 15 percent of women, accord

Feb. 28, 2013

Take care over stress levels of children starting school

The stress that children feel when beginning school can be more serious than adults may think. Many adults may think that children do not feel stressed, but their stress levels can be high.If you notice that your child is more irritable, cannot sleep well, has more dreams than before, has a smaller appetite, and fights often with siblings, these indicate that your child is under a significant amount of stress. When children are stressed, they may develop anxiety symptoms, tic disorders or refuse

TechnologyFeb. 28, 2013

Take care over stress levels of children starting school

Common genetic problem linked to 5 mental disorders

PARIS (AFP) ― Five major psychiatric disorders share a common problem in several faulty genes, according to the biggest study of its kind published on Thursday.In the widest trawl yet of genetic mutations linked with mental disorders, US-led researchers looked through the DNA code of 33,332 people with autism, attention deficit-hyperactivity disorder (ADHD), bipolar disorder, major depressive disorder or schizophrenia.Their genomes were matched against 27,888 “controls,” or people who did not ha

TechnologyFeb. 28, 2013

Manufacturers’ March biz sentiment hits 8-month high

South Korean manufacturers’ business confidence for March rose to the highest level in eight months on a seasonal factor and hopes for the new government’s economic stimulus, the central bank said Thursday.The index gauging manufacturers’ outlook on business conditions came in at 76 for March, up from 72 recorded for February, according to a monthly survey by the Bank of Korea. The index measures manufacturers’ expectations for the coming month.It marked the highest level since the index hit 81

Feb. 28, 2013

KT&G removes ‘light,’ ‘mild’ from tobacco brand names

KT&G said Thursday that it began changing names for four of its tobacco products, removing words that can create a false impression that cigarettes are harmless to the body.Starting from the beginning of February, the company began changing name of “Timeless TIME Lights” to “Timeless TIME MID” and three kinds of the “Esse Soon” lineup to “Esse Soo.” “Soon” in Korean stands for “pure” or “mild” and soo means “excellent.” Last September, the government planned to revise the National Health Promoti

IndustryFeb. 28, 2013

Credit card transactions hit record high

Credit card transactions by Koreans traveling abroad hit a record high of nearly $10 billion in 2012.The Bank of Korea said Thursday that more than 20 million Koreans settled their bills overseas via credit card last year, up about 17 percent from 17.4 million the year before.Credit card payments overseas amounted to $9.4 billion, up about 9 percent from $8.6 billion in the same period.Although credit transactions reached an all-time high, payments per person stood at just $464 on average, down

Feb. 28, 2013

Hyundai, Daishin, IBK brokerages post deficits

The securities industry recorded worse-than-expected earnings during the October-December 2012 period amid a sharp drop in stock brokerage fees collected in the ongoing economic slowdown.Further, some major brokerage firms saw their performance fall into “deficit,” industry and Financial Supervisory Service data showed Thursday. Among them are Hyundai Securities, Daishin Securities and IBK Investment & Securities.Hyundai Securities, a subsidiary of Hyundai Group, is noted as one of the nation’s

Feb. 28, 2013

Industrial output drops 1.5% on-month in Jan.

SEJONG (Yonhap News) ― South Korea’s industrial output shrank for the first time in five months in January amid worries that industrial activities might be slowing amid toughened economic conditions, a government report showed Thursday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries dropped 1.5 percent last month from a month earlier. It is the first on-month output contraction since August.The output still expanded 7.3 percent

TechnologyFeb. 28, 2013

Sales of Hyundai’s Avante top 1m units in China

South Korea’s top automaker Hyundai Motor Co. said Thursday that cumulative sales of its Avante compact have surpassed 1 million units in China about five years after its debut there.The milestone comes after Beijing Hyundai Motor Co., a 50-50 joint-venture between Hyundai and Beijing Automotive Group, unveiled the Avante HD, called the Yuedong, in the world’s largest auto market in April 2008.Hyundai has said it invested 65 billion won ($60 million) in developing the Yuedong by reflecting Chine

TechnologyFeb. 28, 2013