The Korea Herald

AMCHAM to hold 8th CEO Servers’ Night

The American Chamber of Commerce in Korea will host a charity event that emphasizes fun on June 5. Called “The 8th AMCHAM CEO Servers’ Night,” the event will take place at the Banyan Tree Club & Spa Seoul, located in Jangchung-dong, central Seoul. During the event, business executives will dress up as waiters and serve a four-course dinner to their clients, employees and family members. Participating CEOs will be required to attend an afternoon training session that will be held on the same day.

May 28, 2012

Vector Korea chief seeks harmony between corporate cultures

One year after getting permanent residency, Geyer reflects on Korean business worldGerman-born business executive Thomas Geyer is a big fish in a small, exclusive pond.According to the 43-year-old president of Vector Korea IT Inc., one of the perks enjoyed by foreign executives in the Land of the Morning Calm is the exposure to movers and shakers in the Korean political and business circles.“I meet people I would never have met in Germany. Assemblymen from Parliament, the Justice Ministry. … It’

May 28, 2012

Vector Korea chief seeks harmony between corporate cultures

Quake reveals day when Jesus died

Scientists have deduced the exact day of Jesus’ death to be Friday, April 3, 33 A.D., based on earthquake activities of the time, Discovery News reported Thursday.To find out the precise point Jesus had passed away, an international team of geologists focused on a verse from the Gospel of Matthew, which describes the crucifixion of Jesus.“And when Jesus had cried out again in a loud voice, he gave up his spirit. At that moment the curtain of the temple was torn in two from top to bottom. The ear

TechnologyMay 28, 2012

U.K. shop sells salt made from human tears

A London emporium has launched a type of cooking salt made from human tears, the Daily Mail reported. Customers can choose the salt product from a range of tears, including anger, sorrow, laughter, chopping onions or sneezing.According to the shop, Hoxton Street Monster Supplies, their salt “combines centuries-old craft with the freshest human tears which are gently boiled, released into shallow

IndustryMay 28, 2012

U.K. shop sells salt made from human tears

New study uncovers gene linked to sperm development

Scientists have discovered a gene that is critical to sperm development, good news both for people who want children and those who do not, Science Daily reported ThursdayAccording to a research by University of Edinburgh, a gene “Katnal1” is essential in enabling sperm to mature. Katnal1 helps formation of cells that provide nutrients to sperm.Researchers are hoping that by manipulating the gene, they can help sperm mature, or block the development process. A stand-out benefit of a contraceptive

TechnologyMay 28, 2012

Number of Expo visitors growing steadily

More than 100,000 people visited the World Expo under way in South Korea’s Yeosu on Sunday for the first time since the event opened about two weeks ago, the organizing committee said.A three-day holiday through Buddha’s Birthday Monday is believed to have led to the rise.The 93-day event is the first Paris-based Bureau of International Exhibitions approved event hosted by South Korea since the 1993 Daejeon Expo.The increase was helped by Hyundai Motor Group, the world’s fifth largest automotive

IndustryMay 27, 2012

Mando completes construction of Brazilian plant

Mando Corp., one of South Korea’s leading auto parts manufacturers, said Friday that it completed construction of a plant in Brazil that will allow it to make inroads into the South American market.It said the plant located in Limeira, in the eastern part of the Brazilian state of Sao Paulo, has been built on 55,000 square-meters of land and has a factory floor space of 13,000 square meters.The company said it invested $50 million into the plant, which will hire around 100 local employees and ma

IndustryMay 27, 2012

KOTRA signs $200m export contract

Freezer manufacturer KEPCM said it has signed a large-scale export sales contract with a Chinese energy corporation, paving the way for a deal worth an estimated $200 million during the next five years.Called the “Green IT System Building Project,” the contract between KEPCM and a Chinese energy management corporation in Wuhan was signed at the KOTRA-organized Global Smart SOC Initiatives 2012, which took place at the Imperial Palace Seoul on May 24 and 25. Under the deal, KEPCM will work towar

IndustryMay 27, 2012

GS E&C wins $500 million hospital order in Singapore

GS Engineering and Construction Corp. has became the sole company to sign a $500 million contact with Singapore Ministry of Health to build three additional hospital wards in the outskirts of Jurong, Singapore. The order is the company’s second and largest project in Singapore, following its construction project for Fusionopolis, a research and development complex, in 2011. The country’s leading construction company said that the expected construction period is 32 months. Slated to open in early

IndustryMay 27, 2012

GS E&C wins $500 million hospital order in Singapore

Eximbank seeks to change name to meet expanded role

The Export-Import Bank of Korea is set to have a bill submitted to the 19th National Assembly, scheduled to open this Wednesday, to change its name to reflect its expanded role beyond export financing support. The state-run bank plans to rename itself the Korea Bank for International Cooperation to better represent its capacities as an investment bank, supporter of small-and medium-sized companies, manager of funds to support developing countries and supporter of economic cooperation with North

May 27, 2012

LG’s LTE smartphone sales top 3 million units

LG Electronics said Sunday that it sold more than 3 million LTE handsets worldwide.The company plans on rolling out more smartphones running on the fourth-generation Long Term Evolution networks in 20 different countries, including nations in the Middle East, up from the current 10.The electronics manufacturer has mainly targeted two different markets with its high-speed handsets ― North America and Korea. It also announced earlier this month that sales of the Optimus LTE had topped the 1 millio

IndustryMay 27, 2012

LG’s LTE smartphone sales top 3 million units

Samsung, Apple to meet in U.S. court in July

Korean company files opposition to Apple’s new motion last FridaySamsung Electronics vice chairman Choi Gee-sung said little when he returned from patent negotiations with Apple CEO Tim Cook late Friday.“It’s difficult to discuss matters involving the patent dispute,” said Choi as he arrived at Gimpo International Airport at 11 p.m.“I’ve been ordered to keep completely silent about the negotiations because it is part of the ongoing court case. I’ll notify the details if there are any changes mad

IndustryMay 27, 2012

Seoul on course for growth target: finance minister

South Korea’s growth target for 2012 remains achievable despite mounting downside risks triggered by persistent eurozone woes, the country’s top economic policymaker said Friday.In a press conference, Finance Minister Bahk Jae-wan said the developments taking place in the European Union pose greater challenges, but data indicates there may not be any need to change Seoul’s 3.7 percent growth forecast for this year.He stressed that the government is not considering artificial measures to bolster

May 27, 2012

U.S. accuses Korea of intervening in market

The United States government said Friday it will keep pressing South Korea to refrain from interventions in the foreign exchange market.“The Korean authorities continue to intervene in the foreign exchange market, and the won remains weak compared to its pre-crisis levels,” the Department of the Treasury said in a semiannual report to Congress on international economic and exchange rate policies.“We will continue to press the Korean authorities to limit their foreign exchange interventions to th

May 27, 2012

Seoul stocks eye technical rebound

South Korean stocks will try to pull off a technical rebound this week, in the face of persistent eurozone uncertainties that have weighed down global economic recovery efforts, local analysts said Saturday.The country’s key stock index, the KOSPI, closed at 1,824.17 points on Friday, up 2.34 percent from a week earlier after China expressed its resolve to stimulate its economy, and U.S. housing market figures showed signs of improvement.The announcement and positive data helped calm market jitt

May 27, 2012

Sonata hybrid wins top satisfaction award

Hyundai Motor Co., South Korea’s top automaker, said Friday its Sonata hybrid has received the “top satisfaction” award from a U.S.-based automotive research company.The carmaker said the mid-size car ranked No. 1 in the hybrid and electric-powered passenger car segment checked by AutoPacific Inc. This car segment was first launched in 2010 with the Mercury Milan hybrid and Lincoln MKZ hybrid being the early winners.Hyundai’s Sonata hybrid was first introduced in the U.S. market a year ago.The A

MobilityMay 27, 2012

Sonata hybrid wins top satisfaction award

Hyundai to advance release of new Equus, Genesis

Automaker sees sales of 2012 models stutter due to launch of K9, cheaper import carsHyundai Motor is considering moving up the release dates for the Equus and Genesis 2013 versions as sales of the 2012-versions of the premium models have been sluggish.The recently sagging sales of the two models were attributable to a growing popularity of affiliate Kia Motors’ K9, a V8-powered luxury sedan, which was unveiled in early May.With many consumers acquainted with the news of the K9’s debut and active

MobilityMay 27, 2012

Hyundai to advance release of new Equus, Genesis

Dinosaur with tiny arms unearthed in Argentina

Argentine experts have discovered the near-complete remains of a new species of Jurassic-era dinosaur that stood on its rear legs and had tiny arms, a leading paleontologist said Thursday.(AFP)The find belongs to the Abelisaurus family, "the most common carnivorous species in the southern hemisphere during the Cretaceous Period," some 70 to 100 million years ago, paleontologist Diego Pol told AFP.

TechnologyMay 27, 2012

Dinosaur with tiny arms unearthed in Argentina

‘Aliens won’t enslave humans’

Will aliens endanger Earth like in movies? One alien hunter says not likely. Extraterrestrial intelligence that is evolved enough to reach Earth probably will not want to enslave or attack humans, according to renowned astronomer Jill Tarter.Tarter, outgoing director of Center for SETI (Search for Extraterrestrial Intelligence) Institute, said such alien species would have technology so advanced that they would not need slaves, food, or other planets, Space.com reported Friday.Tarter said she di

TechnologyMay 27, 2012

Dragon makes history with space station docking

The private company SpaceX made history with the docking of its Dragon capsule to the International Space Station, the most impressive feat yet in turning routine spaceflight over to the commercial sector.The docking Friday marked the first time a business enterprise delivered a supply ship to the space station.“There's so much that could have gone wrong and it went right,” said an elated Elon Mus

TechnologyMay 27, 2012