The Korea Herald

Manufacturers’ debt repayment ability deteriorates in 2011

South Korean manufacturers’ capacity to repay debt deteriorated in 2011 due to sluggish economic growth and increases in borrowing costs, the central bank said Tuesday.The ratio of a manufacturer’s operating cash flow to short-term borrowing and interest reached 53.8 percent last year, down sharply from 66.1 percent reached in the previous year, according to a survey of 7,404 manufacturers conducted by the Bank of Korea .The ratio measures a company’s ability to service short-term debt with cash

June 12, 2012

Korea opens FDI forum

The government opened Foreign Investment Week 2012 on Tuesday to promote foreign investment into Korea and strengthen its investment network with foreign companies. The Knowledge Economy Ministry and the state-run Korea Investment-Trade Promotion Agency organized the three-day international convention.The annual event, the largest of its kind, includes a pre-opening network dinner and a series of break-out forums on multiple sectors, including green energy, ICT market, cultural content, venture

June 12, 2012

Korea within global alternative investment

Some time ago, a client who was working for a leading private equity firm in the United States attended a regional management event in Japan. There, the chief executive officer of the firm was presenting and engaging in discussion about Asia’s expansion ― but not one word was mentioned about the Korean market. It used to be that Korea was “outside the main radar” for many investors, and it was very difficult to make an arrangement for the very top senior executive to make a visit to this country

June 12, 2012

Korea within global alternative investment

Competition intensifies in coffee mix market

Namyang seeks to challenge Dongsuh by building nation’s largest factoryA three-way battle is foreseen in the domestic market for individually packaged instant coffee mix products, which has so far been dominated by Dongsuh Foods’ Maxim brand.Korea’s annual demand for the three-in-one coffee mix sachets that contain powdered coffee, powdered cream and sugar for a single serving is estimated at 1.2 trillion won ($1 billion), or more than a third of the coffee market. The coffee mix business is att

IndustryJune 12, 2012

Competition intensifies in coffee mix market

IMF lowers Korea’s economic growth outlook to 3.25%

South Korea’s economic growth for this year is likely to go down about 0.25 percent from the 3.5 percent baseline forecast, reflecting the weakening global outlook, the International Monetary Fund said on Tuesday. “Activity in the second half of 2012 is expected to expand at a moderate pace supported by Korea’s competitive export sector and the recently concluded EU and U.S. Free Trade Agreements,” said the IMF through the Statement at the Conclusion of the 2012 Article IV Consultation Mission t

June 12, 2012

Is dental hygiene linked to premature death?

Failing to brush your teeth regularly could increase the risk of dying prematurely from cancer, scientists claim.According to researchers, one in five cancers is affected by dental plaque which plays a key role in infection and inflammation.A Swedish research team analyzed the health of 1,390 adults from Stockholm for 24 years and found that those with the most bacteria on the surface of their teeth and gums had 80 per cent increased risk of premature death.The study tracked the health of 1,390

TechnologyJune 12, 2012

Is dental hygiene linked to premature death?

Atkins diet may increase risk of heart disease: study

The Atkins diet may increase the risk of heart disease, a recent study conducted over a period of 25 years has revealed.The diet, officially called the Atkins Nutritional Approach, was welcomed by dieters around the globe as it encourages consumption of fatty foods while shunning sugar and starch.Now, however, scientists have raised a red flag over the diet, warning that it could increase blood cholesterol to dangerous levels causing heart problems.Researchers from Sweden analyzed data on the fo

TechnologyJune 12, 2012

Atkins diet may increase risk of heart disease: study

Traces of ancient impact on Earth found

(MCT)Researchers say they've found evidence of an extraterrestrial impact on Earth 13,000 years ago that may have been involved in a major life extinction event.An international team of scientists says melted glass material in a thin layer of sedimentary rock in Pennsylvania and South Carolina, and in Syria, was formed at temperatures of 3,100 to 3,600 degrees Fahrenheit and is the result of a cos

TechnologyJune 12, 2012

[Photo] 3-D Home theater

A model features LG Electronics’ real 3-D sound home theater system with its Cinema 3-D smart television at its office in Yeouido on Monday.(LG Electronics)

IndustryJune 12, 2012

KaKao's phone service hurts Korean telecom giants: Moody's

The launch of a free phone-call service by KakaoTalk is credit negative for South Korean telecommunication giants SKT and KT, Moody's Investors Service said Monday.KaKaoTalk is a popular multi-platform texting application based in South Korea. It claims more than 50 million subscribers around the world.The operator began the free phone service, VoiceTalk, on a trial basis last week.Moody's said th

TechnologyJune 12, 2012

U.S. exempts Korea from Iranian oil sanctions

U.S. Secretary of State Hillary Clinton announced Monday that South Korea will be exempt from Washington's sanctions on the Iranian oil industry, citing a significant reduction in crude imports from the Middle East country.In a statement, Clinton also said India, Malaysia, South Africa, Sri Lanka, Turkey and Taiwan will be granted exceptions to sanctions under the National Defense Authorization Ac

June 12, 2012

Local banks woo foreign customers

Banks expand language services, offer discounts in feesAs the number of expats living in Korea exceeds 1.4 million, local banks have entered into competition to attract more foreign customers. Woori Bank recently added seven more languages ― Chinese, Vietnamese, Mongolian, Indonesian, Nepalese, Sinhala and Bengali ― to slips used in the banks for transactions. Formerly, it only provided services in Korean and English. Shinhan Bank also said it will commence Mongolian and Russian language service

June 11, 2012

Samsung, Hyundai unveil plans for profit sharing

Forty-five of the nation’s major companies agreed Monday to carry out certain projects jointly with their parts suppliers and share the excess profits beyond their targets with them, the Ministry of Knowledge Economy said.Large companies, including Samsung Electronics, Hyundai Motor, SK Telecom and LG Electronics, said they would work together with their 654 parts suppliers on 1,073 projects in the next year. With the new voluntary agreement, the number of smaller firms benefiting jumps 8.7-fold

IndustryJune 11, 2012

VoiceTalk to hurt credit ratings of SKT, KT: Moody’s

Moody’s Investors Service predicted Monday that KakaoTalk operator’s launch of a free phone-call service will negatively affect the credit ratings of the nation’s two major telecommunication operators.“The launch of VoiceTalk is credit negative for our rated Korean telecommunication operators, SK Telecom (SKT, A3 negative) and KT (A3 negative),” the global rating firm said in a statement.Its view comes a week after Kakao, the Korean operator of popular multi-platform texting application KakaoTal

IndustryJune 11, 2012

MS launches cloud platform in Korea

Global software giant takes on Amazon, Google in emerging technologyMicrosoft has launched its all-new hybrid cloud computing platform, Windows Azure, in Korea after holding off on the service for two years.Despite the delay in the release here, officials said MS is still ahead of its competitors such as Amazon and Google in Korea’s cloud computing arena.Amazon has not yet made a significant inroad into the Korean market, although the online book retailer has established its cloud computing serv

TechnologyJune 11, 2012

Nexon to solidify position on NCsoft stock buy

Nexon’s move to position itself as country’s top online game firm bewilders investorsNexon has officially concreted its position as the country’s top game firm following its announcement that it took over nearly 15 percent of NCsoft’s shares last Friday.Nexon said it has acquired about 3.21 million of NCsoft’s shares for 250,000 won ($214.39) per share from the firm’s chief executive Kim Taek-jin on the same day.The move indicates that Nexon has paid up to 804.5 billion won for 14.7 percent of N

IndustryJune 11, 2012

Nexon to solidify position on NCsoft stock buy

SKT, SNUH launch smart health care service pilot

Health Connect, a joint venture between SK Telecom and Seoul National University Hospital, launched its first pilot-version of smart healthcare service called Health-On.SK Telecom, the country’s biggest mobile carrier, said Monday that the new service allows people to periodically check the status of their health evaluated by the hospital, which will provide online and offline consulting. Users will be able to use such a service via mobile devices and the Internet, and access individual health i

June 11, 2012

Shares jump 1.71% on Spain bailout

South Korean stocks shot up 1.71 percent Monday after Europe’s finance ministers agreed on a bailout program for Spain over the weekend, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index spiked 31.40 points to 1,867.04. Trading volume was light at 356 million shares worth 4.21 trillion won ($3.61 billion), with gainers outpacing losers 647 to 199.“The eurozone’s decision to help Spain’s banking sector alleviated global stock market unc

June 11, 2012

FSS to delay ATM cash withdrawals to curb voice phishing scams

The nation’s top financial regulator said Monday it would introduce a new cash withdrawal system later this month as part of efforts to reduce the harm caused by voice phishing.Starting June 26, cash withdrawals of 3 million won or more from ATM machines will not be possible until at least 10 minutes after the money has been wired to the account, the Financial Supervisory Service said.“The new system is aimed at buying time for financial authorities to suspend the accounts of voice phishing scam

June 11, 2012

Rail, airport authorities top competitiveness list: report

South Korea’s public rail and airport authorities ranked top in terms of international competitiveness in 2011 for the service they offered to users, a government report showed Monday.The report by the finance ministry showed the country’s KTX bullet trains outperformed overseas rivals in timely operations according to data published by International Railway Statistics. It said the KTX, run by Korea Railroad Corp. had an on-time departure and arrival rate of 99.8 percent, beating the 99.2 percen

June 11, 2012