The Korea Herald

Obama to announce new spending plan

WASHINGTON (AP) ― One budget deal down, President Barack Obama and Congress began to pivot Sunday from the painful standoff over this year’s spending to a pair of defining debates over the nation’s borrowing limit and the election-year budget.Much will be revealed at midweek, when the House and Senate are expected to vote on a budget for the remainder of this fiscal year and Obama reveals his plan

IndustryApril 11, 2011

Iceland rejects debt deal to repay U.K., Dutch

REYKJAVIK, Iceland (AP) ― Voters in Iceland rejected a government-backed deal to repay Britain and the Netherlands for their citizens’ $5 billion worth of deposits in a failed online bank, referendum results showed Sunday ― sending the dispute to an international court and plunging the economically fragile country into new uncertainty.Final results showed the “no” side had just under 60 percent of

IndustryApril 11, 2011

Iceland rejects debt deal to repay U.K., Dutch

Will Microsoft-Nokia alliance work in Korea?

Just a week ago at the world mobile trade show in Barcelona, global software giant Microsoft stunned many by announcing its alliance with Nokia, the world’s No. 1 handset maker.Following the international event, Microsoft Korea told reporters in a media briefing in Seoul on Monday that the new Windows Phone 7 will be available here as early as October.“Internally, we’re happy about our new allianc

TechnologyApril 11, 2011

Students report technology addiction similar to drug dependence: study

(MCT)College students worldwide admitted to being addicted to modern technology and suffered withdrawal symptoms similar to drug addiction when cut off, a study showed last Friday. The University of Maryland research followed college students aged between 17 and 23 at 12 campuses in 10 countries, including Britain, the U.S. and China on the effects of being unplugged from technology.The research o

TechnologyApril 11, 2011

Students report technology addiction similar to drug dependence: study

Hacker steals financial info of Hyundai Capital clients

Financial services provider Hyundai Capital admitted Sunday that financial information including the credit ratings of some customers had been accessed by a hacker.Those responsible for the incident are thought to have accessed the company’s auxiliary server since February and hacked data in small portions to avoid detection. In addition, passwords and other vital information about loans taken out

April 11, 2011

Hacker steals financial info of Hyundai Capital clients

SK Telecom taps into China mobile game market

SK Telecom joined hands with China’s No. 1 wireless carrier to tap into one of the world’s fastest growing mobile game markets.ST Telecom and China Mobile’s game business unit signed a memorandum of understanding on Friday in China for cooperation in content, platform and networking technologies.China’s mobile game market has grown 100 percent annually for the past three years with the number of u

April 10, 2011

Hyundai Heavy completes world’s largest gas power plant

Hyundai Heavy Industries announced Sunday that it completed building the world’s largest gas-powered power station in Saudi Arabia.Located in Jubail in Eastern Saudi Arabia, the plant was built as part of a $2.7 billion contract for a power and desalination plant issued by the state-run utilities firm Marafiq in 2007. The contract was awarded to an international consortium composed of Hyundai Heav

IndustryApril 10, 2011

Korean firms seek ‘optimum’ bid for Brazil bullet train project

The South Korean consortium bidding for Brazil’s $20-billion high-speed rail service downplayed the impact of its recent loss of construction partners.The group said it is in talks with big-name constructors in Korea such as Hyundai Engineering and Construction and POSCO Engineering and Construction to form a new lineup before submitting its proposal. It is also contacting some large Brazilian con

IndustryApril 10, 2011

Korea, U.S. regulators differ on KEB status

FSC delays ruling on Lone Star’s shareholder eligibility to April 27Korea Exchange Bank has been barred from operating deposit businesses in the U.S. since Lone Star Funds took over the lender in 2003, in contrast to Korea where there have been no such restrictions, sources said Sunday.The restriction indicates that U.S. regulators regard Lone Star as a non-financial investor, they said.“It seems

April 10, 2011

Seoul stocks expected to see moderate gains

Korean stocks will continue to rise this week but the gains will likely be limited by rising oil prices and other economic woes stemming from Japan’s earthquake and continuing war in Libya, analysts said.The benchmark KOSPI ended last week at 2,127.97, up 6.96 points or 0.32 percent from a week earlier, extending its rally of weekly gains to a fourth consecutive week.The total market cap also reac

April 10, 2011

China FTA to boost Korea’s economy by nearly 3%: SERI

A free trade deal with China would help Korea expand its gross domestic product by nearly 3 percent, a think tank said Sunday, citing more exports to the fast-growing market through lowered trade barriers.According to a report by the Samsung Economic Research Institute, Korea’s GDP is expected to grow 2.72 percent more if Seoul and Beijing complete a free trade agreement intended to cut or remove

April 10, 2011

Quake’s harm to Korean economy limited

Steelmakers, oil refiners benefit from damaged production in JapanThe March 11 earthquake and tsunami in Japan is seen as having a limited, short-term impact on the Korean economy despite having disrupted parts supplies for automobile and electronics makers, experts said Sunday. In fact, some sectors including steel and oil refining are benefiting from the damaged production in the neighboring cou

April 10, 2011

Interest-free installment on Nissan models

Nissan Korea is offering special financing programs on the Altima+ sedan and the crossover utility vehicle Murano until the end of the month.With the Altima+ 3.5 and the Murano, the company is offering a 36-month interest-free installment program with 35 percent of the price paid up front. AltimaFor the Murano, the company will also provide a 4 million won ($3,700) fuel voucher to those making the

MobilityApril 10, 2011

Interest-free installment on Nissan models

Kia offers checkups to mark 10 millionth export

Kia Motors Corp. is offering free checkups to mark its exports hitting over 10 million units on March 23. As part of the event, the company will be offering checkups to Kia owners living on major islands scattered along the coast of the country, including Ullenung island in the East Sea, until May 19. Starting Tuesday, the company will check the air conditioning systems fitted in Kia vehicles used

MobilityApril 10, 2011

Limited-time offer on Peugeot 207GT

Hanbul Motors, Korea’s official Peugeot importer and distributor, is offering a special financing scheme on the 207GT during April to mark the model’s global sales breaking the 2 million mark.Until the end of the month, those purchasing the vehicle can choose between a 24-month interest-free installment program or a lease financing scheme. Peugeot 207GTUsing the zero-interest installment program,

MobilityApril 10, 2011

Hyundai, NHN step up IT efforts

Hyundai Motor Group announced Sunday that its two carmakers signed a memorandum of understanding with NHN Corp. to collaborate in the field of automotive information technology and telematics.NHN is the operator of the country’s top search engine Naver. Combining telecommunications and informatics, telematics for automobiles refers to the application of wireless telecommunications tools including

MobilityApril 10, 2011

Counting your sugar intake for the day

With awareness of healthy eating greater than ever, people are on the search for food with fewer calories and less sugar.“Sugar Stacks" (http://www.sugarstacks.com/) is a website that lists the amount of sugar contained in popular foods.The website may help in preventing the unintentional consumption of too much sugar.By Kang Yoon-seung (koreacolin@gmail.com)Intern reporterEdited by John Power<한글요

TechnologyApril 10, 2011

Seven out of 10 workers regret changing jobs

(MCT)Seven out of 10 people who have changed their jobs regret their decision, research showed Friday.Job site Saramin (http://saramin.co.kr) said that 67 percent of respondents were not satisified with their new jobs in a survey conducted on 1,409 Koreans who have sought new opportunities in different companies.In the survey, 34.3 percent of those answered said they regret their decision because

April 10, 2011

Seven out of 10 workers regret changing jobs

CJ Cheiljedang to invest W3tr on bio products

CJ Cheiljedang Corp. will spend three trillion won ($2.78 billion) by 2015 on building facilities and an R&D center to make bio products, the food maker said Friday. “We’re making investment into our Asia and North American market where we will invest about three trillion won,” it said. The investment may include building new factories or establishing strategic alliance with food companies abroad,

IndustryApril 8, 2011

Home prices, rents grow faster than income

In Korea, it takes more than a decade for the average salaried worker to buy his or her own house, as numerous surveys have shown over the years. But now it looks like renting homes has become equally trying, according to data released by a local property-information portal on Friday. Real Estate Bank said “jeonse” costs are surging as more people opt to rent homes instead of buying them, not to m

IndustryApril 8, 2011