The Korea Herald

‘Auto market shifts to favor Korea, Europe’

Hyundai and Kia overseas sales rise as Japanese rivals suffer from worst disasterThe series of disasters that struck Japan in March could bring significant changes to the world’s automotive industry, including its direction for eco-friendly vehicles.In a recent report, the U.S.-based market research firm Frost and Sullivan projected that the earthquake could not only open opportunities for carmake

IndustryApril 20, 2011

‘Auto market shifts to favor Korea, Europe’

Automakers plan expansion into China

Global carmakers unveil ambitious China expansion plans as they battle back from tsunamiSHANGHAI (AP) ― Global automakers unveiled ambitious expansion plans for China on Tuesday, targeting the country’s newly prosperous drivers as the industry struggles to recover from Japan’s tsunami.Nissan Motor Co. plans to raise sales by about 15 percent to 1.15 million vehicles this year, said CEO Carlos Ghos

IndustryApril 20, 2011

Attractive men have long... ring fingers: study

Is your ring finger longer than index finger? (The Korea Herald)PARIS, (AFP) - The longer a man's fourth or ring finger is compared to his index finger, the more likely he is to be judged attractive by women, according to a study released Wednesday.The results, published in the British Royal Society's journal Biological Sciences, unveil intricate links between foetal exposure of males to hormones,

TechnologyApril 20, 2011

Attractive men have long... ring fingers: study

Twitter could be bad for romance: study

(MCT)Twitter users tend to have shorter relationships, an online survey showed. Time Online on Tuesday reported the survey of more than 830,000 people on how they feel about sex. The survey, by dating site OkCupid, showed that the more often people used Twitter, the shorter their relationships were likely to be as they became more self-loving. It also showed that women with curvy bodies tended to

TechnologyApril 20, 2011

Samsung vs. Apple in copyright showdown

Two of the world’s most prominent IT giants Samsung Electronics and Apple Inc. are poised to fight it out over patent rights.Shortly after Apple said it had sued Samsung for “blatantly copying” its products, Samsung Electronics fired back Samsung would be filing a suit against Apple for copying its communications technology. “We are definitely considering a lawsuit,” said Kim Nam-yong, a spokesman

IndustryApril 19, 2011

S. Korea aims for top 10 in quality competitiveness by 2015: minister

South Korea aims to reach the top 10 in quality competitiveness in the world by 2015 as part of its ongoing effort to boost its growth potential, the government said Tuesday.The Ministry of Knowledge Economy said South Korea ranked 22nd among the 57 countries checked last year in terms of quality competitiveness in the manufacturing sector, mainly because the general corporate atmosphere was focus

IndustryApril 19, 2011

World-OKTA pledges to offer 10,000 internships in foreign countries

The largest association of overseas-based Korean business leaders put forward an ambitious vision Monday to offer overseas internship positions for 10,000 young Korean adults as it celebrated its 30th anniversary with a pledge to expand the “business territory” of their homeland.The World Federation of Overseas Korean Traders Association, or World-OKTA, also vowed to take advantage of its deep-rea

April 19, 2011

Marriages increase as economy recovers

The number of marriages increased 5.3 percent in 2010 in line with the market rebound from the economic crisis between 2008 and 2009, Statistics Korea said Tuesday.The report by the state agency said 326,000 couples married last year, putting the total up 5.3 percent from the year before. The figure is a reverse of declines during 2008-9 which saw marriages dropping by 4.6 percent and 5.5 percent

April 19, 2011

Bad bank may acquire W4tr in toxic loans

A bad bank, which is about to emerge under financial regulators’ move to write off overdue assets, is expected to absorb as much as 4 trillion won ($3.6 billion) in overdue loans held by financial companies.While regulators are considering setting up the bad bank before the third quarter, sources predicted Tuesday that it could initially purchase around 4 trillion won in soured project finance loa

April 19, 2011

FSS denies lawmaker’s allegation of wrongdoing

DP legislator claims officials withdrew money before savings bank shutdownThe allegation that former and incumbent financial regulatory officials exploited insider information for their own means has been contentious issue amid the recent liquidity woes in the secondary banking sector.An opposition lawmaker has claimed that several financial regulatory officials withdrew their deposits from saving

April 19, 2011

Korea seeks South American opportunities

South Korea is seeking to bolster cooperation in energy and raw material with South America while conveying its rapid growth experience to countries in the region, the government said Tuesday. South America has emerged a continent fall of opportunities for Korea despite its distance due to its abundance in natural resources such as crude oil and minerals, as well as its rapidly recovering local ec

April 19, 2011

GS EPS to build ‘green’ LNG plant

GS Electric and Power Services, a power subsidiary under GS Group, said Tuesday that it will build a “green” high-efficiency liquefied natural gas combined cycle power plant in Dangjin, South Chungcheong Province. The firm spent 460 billion won ($420 million) for the plant which will be completed by August 2013. GS EPS currently operates two other power facilities there.The firm held a groundbreak

IndustryApril 19, 2011

Global firms launch new cars at Shanghai show

HONG KONG (Yonhap News) ― China’s largest international auto show kicked off on Tuesday with major product launches by global carmakers, showing the growing significance of the world’s most populous country for the auto industry.Auto Shanghai 2011 began its 10-day run with press days scheduled for the first two days in the booming metropolis. The event will be open to the public from Thursday to A

IndustryApril 19, 2011

Global firms launch new cars at Shanghai show

LG Chem, Samsung Engineering post Q1 gains

LG Group’s chemicals and electronics components maker posted first quarter sales of nearly 5.5 trillion won, a 24.1 percent increase compared to the same period last year. According to LG Chem’s first quarter figures released Tuesday, the company’s operating profits rose 28 percent to 835.3 billion won ($765 million), while net profits came in at 656.6 billion won, rising 26.8 percent.Much of the

IndustryApril 19, 2011

Research unit considered to support emerging market entry

The government is mulling a research institution to provide the groundwork to help local companies advance into emerging markets, Finance Minister Yoon Jeung-hyun said Monday.“In order to attain sustainable growth, it is important to consolidate ties with emerging countries by establishing cooperative channels and expanding free trade agreements,” Yoon said at a policy meeting. He said there is a

April 19, 2011

SKT claims success in tests of new telecoms technology

BUNDANG, Gyeonggi Province ― SK Telecom, the country’s top mobile carrier, tested the fourth generation telecommunications technology Long Term Evolution for the first time at its Bundang office on Tuesday.Aiming to commercialize the LTE technology in Seoul by July, the company will offer next generation telecommunications services which come with upgraded speed and picture quality.It will then ma

IndustryApril 19, 2011

SKT claims success in tests of new telecoms technology

LG Display chief eyes 3-D supremacy

Kwon shows confidence in company’s 70 percent market share by year-endLG Display’s chief executive Kwon Young-soo was unperturbed by the company’s lackluster first quarter performance, saying he was certain of the global dominance by year’s end of his firm’s new 3-D panel technology, the film-type patterned retarder. “I don’t believe our goal to achieve as much as 70 percent market share in the gl

IndustryApril 19, 2011

Samsung Engineering Q1 net jumps 74.3 pct

Samsung Engineering Co., South Korea's largest industrial plant builder, said Tuesday that its net profit jumped 74.3 percent in the first quarter from a year ago on reduced costs. Net profit came to 121.4 billion won (US$110.7 million) in the January-March period, compared with 69.6 billion won during the same period in 2010, Samsung Engineering said in a regulatory filing. Sales rose 67.1 percen

IndustryApril 19, 2011

Samsung vows legal action over Apple's patent-infringement claim

Samsung Electronics Co. said Tuesday that it will seek legal action against Apple Inc. over the U.S. company's accusation that the maker of the Galaxy S smartphone infringed upon Apple's patents. Samsung's response comes on the heels of Apple's allegation in a complaint with a U.S. court that the Galaxy S phone and the Galaxy Tab tablet computers copied design, mobile software and other patents o

TechnologyApril 19, 2011

Samsung vows legal action over Apple's patent-infringement claim

S. Korea considering lowering oil taxes: minister

South Korea is considering lowering taxes on oil consumption to help ease financial burdens on low- and mid-income people from sky-high oil prices, the nation's finance minister hinted Monday."The government does not deny the need for lowering oil taxes,"Finance Minister Yoon Jeung-hyun told lawmakers. "It is taking a close look at when and how much the government should push for (tax reduction)."

April 19, 2011