Apple Inc. said Wednesday that it will roll out the iPad 2 tablet computer in South Korea next month amid worries that high U.S. demand and component shortage may delay overseas shipments.Apple will release the iPad 2 in 25 countries, including France and Germany, this Friday and in Hong Kong, South Korea and Singapore next month, the company said in a press release. "We're experiencing amazing demand for iPad 2 in the U.S., and customers around the world have told us they can't wait to get thei

TechnologyMarch 23, 2011

South Korea's financial watchdog plans to announce its road map to resume the sale of a major stake in state-owned Woori Finance Holdings Co. by the second quarter of this year, its chief said Wednesday.   The Financial Services Commission (FSC) put the 56.97 percent government stake in the second-largest banking group up for sale in November last year but suspended the sale process in December af

March 23, 2011

Kia Motors Corp., South Korea's second-largest automaker, said Wednesday it has decided to delay the scheduled launch of its popular K5 passenger sedan in the European market until the second half of the year due to an undersupply.   The vehicle, currently sold as the Optima in the U.S. market, was initially scheduled to be shipped to Europe in the first half of the year.   "We earlier planned to

IndustryMarch 23, 2011

Samsung Electronics Co., the world's No. 2 maker of mobile phones, unveiled on Wednesday two new tablet computers aimed for the U.S. market, eying a bigger market share on Apple Inc.'s home turf with ultra-thin devices.   Samsung unveiled the company's third tablet computer, the Galaxy Tab 8.9, and a U.S. version of the Galaxy Tab 10.1 during a trade show in Orlando, Florida, it said in a statemen

IndustryMarch 23, 2011

South Korea will tighten its rules on loans for home purchases amid growing concerns that rising household debts could emerge as a drag on the nation's economic recovery, the government said Tuesday.The plan, announced jointly by the finance, public administration and land and construction ministries, however, calls for the government to lower acquisition tax rates for home purchases in a bid to b

March 22, 2011

Hyundai Motor Co. launched the midsized truck Mighty in Brazil on Monday, tapping into South America’s largest commercial vehicle market. The Mighty trucks sold in Brazil will be shipped as complete knockdown kits and assembled at CAOA Group’s facility in Anapolis in the state of Goias, the company said.CAOA Group is also responsible for sales of Hyundai vehicles in Brazil.The company has set the

MobilityMarch 22, 2011

Korean imports of Japanese fishery products have dropped in the past week due to consumer concerns over their possible contamination with radiation and disruptions in supply in the neighboring country, the customs office said Tuesday.Before the 9.0-magnitude quake struck Japan on March 11, Korea’s daily weekday imports of fishery products from the country averaged $3.4 million, according to the Ko

IndustryMarch 22, 2011

Korea’s mid-size builders have been dogged by severe financial problems due to a prolonged slump in the local housing market, a trade association said Tuesday. Over a quarter of the top 100 local builders, including LIG E&C Co., were put under a workout program or court receivership as of Tuesday, according to the Construction Association of Korea.The biggest reason for their cash shortages is a p

IndustryMarch 22, 2011

A South Korean consortium including Korea Resources Corp. has acquired a 90 percent stake in an Indonesian bituminous coal mine for $84.15 million, the state-run mineral developer said Tuesday.KORES said it was involved in a joint venture with Korindo, a Korean-run developer in the Southeast Asian country, to buy the share for the 244 million-ton Kapuas mine from PKP Group, a local mineral exporte

IndustryMarch 22, 2011

Sony Corp., Japan’s largest exporter of consumer electronics, halted factories that make televisions and cameras, citing difficulties procuring components and materials following the March 11 earthquake. The company suspended operations at 5 plants in central and southern Japan, including in the Aichi and Oita prefectures, starting Tuesday until the end of this month, the Tokyo-based electronics m

IndustryMarch 22, 2011

Woori Finance Holdings Co., South Korea's No. 2 banking group, said Tuesday it picked the vice president of Woori Bank as the new chief executive officer of the group's flagship banking unit.   The state-run financial services company said its seven-member special president selection committee selected Lee Soon-woo, 61, to lead South Korea's second-largest lender for three years.   Woori Bank is c

March 22, 2011

Korean retailers said Monday that they have decided to suspend imports of foods and products from Japan due to growing consumer concern over their possible contamination with radiation released from an earthquake-damaged nuclear power plant.Lotte Mart Co., Korea’s third-largest discount store chain, said it will not sell pollack which have mainly been imported from Japan, starting Tuesday.“Though

IndustryMarch 22, 2011

 President Lee Myung-bak said Monday that Warren Buffett's continued donations have inspired many Korean firms to rethink their social responsibility.   "(Your activity) has become a good example for companies in Korea and has aroused a lot of discussions on corporations' social responsibility," Lee said in a 45-minute meeting with the well-known American investor at the presidential office Cheong

IndustryMarch 21, 2011