Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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World Bank sees Korea as global role model
Korea can provide a role model for sustainable growth to other emerging economies, a senior World Bank official said in Seoul on Monday.Inger Andersen, vice president of World Bank’s sustainable development unit, is seeing ample potential in Korea’s human resources and technological prowess. “Korea has a lot to offer,” she said in an interview on the sidelines of the Global Green Growth Summit in
IndustryJune 20, 2011
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Global forum touts green growth paradigm
Participants share promoting green growth as a fresh driver for future economyPoliticians, scholars and industry leaders Monday touted a global shift toward green growth and called for enhanced cooperation to tackle the environmental challenges facing mankind.About 90 academics, businessmen and officials from 25 national governments and international institutions shared views at the first Global G
IndustryJune 20, 2011
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Nintendo may fail to replicate Wii success as iPhone games bloom
Takaki Kawatsu, a 33-year-old real estate agent, says he’ll be among Nintendo Co. customers who will pass on the company’s next Wii game console. “I bought the original Wii because it was popular, new and seemed like a great item to have at a party,” said Kawatsu, who owned the game console for four years before selling it three months ago. “This time, there is nothing surprising or fresh.” Kawats
IndustryJune 20, 2011
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Rising mortgage rates could dampen spending
Mortgage rates hit a 30-month high fueled by Bank of Korea’s rates hike this month, raising concerns for damaging effects to the economy.On June 10, the central bank raised the benchmark rate by 0.25 percentage points to 3.25 percent in an effort to counter the rising inflationary pressure. Against market expectations, the central bank had kept the rates frozen for two consecutive months in April
June 19, 2011
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Korea’s public debt soars in first quarter
Korea’s public debt jumped by more than 50 trillion won ($46 billion) in the first quarter of this year as governments and public corporations increased borrowing to meet their financial needs, data showed Sunday.According to the data by the Ministry of Strategy and Finance and the Bank of Korea, debts owed by the central government, provincial administrations, state-invested companies and social
IndustryJune 19, 2011
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Cnet picks Samsung’s PDP TV as best TV
Cnet.com, a major U.S. technology review site, selected Samsung Electronics Co.’s plasma display panel (PDP) TVs as the best TV of the year, industry sources said Sunday.Cnet said the D8000 series, which consists of a string of Samsung’s PDP TV models, outperformed rivals’ products released in the U.S. market this year, according to a Samsung official.Judges of the U.S. review site evaluated desig
IndustryJune 19, 2011
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Ministry to support small business owners
South Korea will help small business owners and improve welfare for low-income earners to boost domestic demand, said Vice Finance Minister Yim Jong -yong.Ordinary people have real sentiment over the economy lags economic indices, Yim told reporters in Gwacheon. To narrow the gap, the government will prepare policies to support small- to medium-sized businesses and the service and tourism industri
IndustryJune 19, 2011
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First Global Green Growth Summit to open in Seoul today
The first Global Green Growth Summit 2011 will begin in Seoul on Monday. The two-day summit, timed to mark the one-year anniversary of the launch of the Global Green Growth Institute, will be held under the theme of Building Planet-Responsible Civilization. Headquartered in Seoul, the Global Green Growth Institute was launched on June 16, 2010 with the aim of developing a green-growth economic dev
June 19, 2011
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[Herald Interview] Acquity Group eyes partnership with top Korean firms
BEIJING ― Acquity Group is an unfamiliar name to Koreans, but it promises to fundamentally change the landscape of corporate Korea’s online marketing.Exclusive brands do not want their brand value diluted by uniformly stacking their goods on the anonymous virtual shelves of eBay or Amazon, according to George Lu, chairman of Acquity Group.Acquity Group is a U.S. company Lu founded in 2001 to speci
IndustryJune 19, 2011
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97 Hyundai Motor union staff caught gambling online at work
Hyundai Motor Co. said Sunday it found 97 of its unionized workers in Ulsan and Asan factories logging on to Internet gambling games during work hours.The country’s No. 1 carmaker said 62 employees at its Ulsan plant and 35 employees at its Asan plant were involved in cyber gambling, betting as much as 100 million won ($92,000) in some cases, according to company officials.The online gambling was
IndustryJune 19, 2011
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4G LTE technology to debut next month
4G mobile phones to be released as early as Sept.The fourth generation telecommunications technology Long Term Evolution is expected to debut next month as two of the country’s mobile carriers are getting ready to launch the service in many cities across the nation.SK Telecom, the country’s top mobile carrier, has announced it will commercialize the technology in Seoul next month by establishing 6
IndustryJune 19, 2011
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No bid for banking unit of Korea Post: KDB
KDB Financial Group Inc. denied a news report that the state-owned company plans to acquire banking businesses of Korea Post.KDB officials said Saturday that the company has not reviewed such plan. The report came after the government went against a move by KDB to take over the public-funded Woori Financial Group. KDB has sought to become a “mega” bank in Korea to expand its business overseas.(shi
June 19, 2011
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Seoul bourse to face volatility this week
The Korean stock market is expected to face volatility this week as eurozone countries are still mired in a deadlock over solutions to the worsening Greek debt crisis, analysts said.The country’s key stock index, the KOSPI, shed 0.72 percent, or 14.74 points, to close at 2,031.93 on Friday. Losses in tech and large cap shares led the market declines.Last week, the local share market suffered a sev
June 19, 2011
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U.S. meat imports spike on animal disease
Korean imports of U.S. pork and beef rose at a far faster pace than those of other overseas meat products this year following the outbreak of a contagious animal disease here, government data showed Sunday.Imports of U.S. pork spiked about 2.5-fold from a year ago to 82,569 tons in the January-May period, with overall pork imports rising 121 percent to 179,985 tons, according to the data by a gove
June 19, 2011
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Local banks’ exposure to Greece tops $500m
Local bank’s exposure to debt-burdened Greece tops $500 billion but it poses limited impact on the local financial market even in the case of a default, financial authorities said Sunday. The Financial Supervisory Service said the bonds issued by Greek shipping companies were not so large here as of the end of March. The agency did not disclose a bank-by-bank breakdown of the figure but emphasized
June 19, 2011
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[Herald Interview] IMF: Rate hikes should help tame stock volatilities
IMF, Finance Ministry split on focus of capital control measuresKorea should raise its policy rate faster to discourage volatile capital inflows into stocks and boost the effectiveness of capital barriers currently in place, Subir Lall, Internaional Monetary Fund's Mission Chief for Korea said.The head of the IMF delegation here assessed Korea’s capital flow management “effective,” but said more c
June 19, 2011
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Auto Build selects Morning as best compact
Kia’s MorningAuto Build, the world’s most circulated car magazine from Germany, selected Kia’s Morning as the best compact car in the world, The Hyundai Kia Automotive Group said.In a comparative analysis of the world’s compact cars, the magazine selected Kia’s latest version of Morning city car as the best model for driving comfort, followed by Hyundai’s i10.Other candidate models included Fiat P
MobilityJune 19, 2011
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China car market to begin recovery in 6-12 months
MobilityJune 19, 2011
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GM offers Transformers pre-screenings
GM Chevrolet cars featured on “Transformers: Dark of the Moon”GM Korea Co. is offering customers an opportunity to apply to watch a pre-screening of “Transformers: Dark of the Moon” in advance of its opening to the Korean public, the company said. The third installment of Michael Bay’s Hollywood blockbuster will be available for pre-screening by Monday June 20 on Chevrolet’s event website at www.e
MobilityJune 19, 2011
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Renault Samsung bullish on new SM7
Marketing chief says new SM7 beats rivals, firm recovering from Japan quake impactThe revamped SM7, to be released within three months, will be successful in the country’s upper largesized sedan market with its improved driving comfort, Frederic Artaud, marketing chief at Renault Samsung, predicted Sunday. “As showcased and proved at the Seoul Motor Show 2011, Renault Samsung is highly confident o
MobilityJune 19, 2011
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