The Korea Herald

Service for post-warranty Porsches

Stuttgart Sports Cars, the official importer of Porsche vehicles, is offering free checkup services and discounts on maintenance fees for Porsche vehicles with expired warranties until March 19.The offer is limited to vehicles purchased through the company before January 2007. During the period, those with vehicles meeting the requirements will be offered a 15 percent discount on parts, and 10 per

MobilityFeb. 13, 2011

Power package makeover for new Mercedes CLS 63 AMG

STUTTGART, Germany (DPA) ― Mercedes has given the CLS 63 AMG a makeover with the top-of-the-range version of the four-door coupe equipped with the newly developed AMG V8 bi turbo engine with an output of 410 kW/557 hp.At the same time fuel consumption has been reduced to 9.9 liters per 100 kilometers, an improvement of 32 percent compared to the predecessor model, according to the car maker.A majo

MobilityFeb. 13, 2011

Power package makeover for new Mercedes CLS 63 AMG

Chrysler considering natural-gas engines for Ram truck brand

Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, is exploring the possibility of adding compressed natural-gas powered engines to its Ram truck brand, a top executive said.“I’m eager and very interested to see what we can do with CNG in our truck applications,” Fred Diaz, head of the Ram brand, said Thursday in an interview at the Chicago Auto Show.Fiat, which holds a 25 percent stake

MobilityFeb. 13, 2011

U.S. reviews VWs over engine stalls, loss of power

Volkswagen AG vehicles are under review by the U.S. National Highway Traffic Safety Administration after reports of engines stalls that may be related to fuel-pump failures.The auto-safety regulator received reports of one accident and 160 complaints from owners and the company about engine loss of power and stalling, NHTSA said in a posting on its website Saturday. The power loss and stalling was

MobilityFeb. 13, 2011

Performance back in focus at Chicago

The Chicago Auto Show, the United States’ oldest and largest auto exhibition, opened to the public on Friday with many carmakers showing off their latest high-performance vehicles, breaking from the recent trend of highlighting cleaner vehicles.South Korea’s largest carmaker Hyundai Motor Co., which had used recent international industry events had showcase new design concepts and eco-friendly tec

MobilityFeb. 13, 2011

Toyota said to cut board by half in biggest shake up in 8 years

Toyota Motor Corp., the world’s largest automaker, plans to cut its board to at least 17 members from the current 27 to improve decision-making after a series of product recalls in its biggest management reorganization in 8 years, two people familiar with the company’s plan said. Toyota currently has 27 directors, including the chairman, president, six executive vice presidents and 15 senior manag

IndustryFeb. 13, 2011

Toyota said to cut board by half in biggest shake up in 8 years

GM, Chrysler plan 50% bonus to execs

General Motors Co. and Chrysler Group LLC, which each received government-funded bailouts, may award some managers bonuses of as much as 50 percent of their salary, said four people familiar with the plans. GM plans to pay bonuses to most managers equal to 15 percent to 20 percent of their annual salary and as high as 50 percent to less than 1 percent of its 26,000 U.S. salaried employees, said on

IndustryFeb. 13, 2011

Samsung unveils upgraded Galaxy S, Galaxy Tab

Samsung Electronics unveiled the upgraded versions of its flagship smartphone Galaxy S and its tablet PC Galaxy Tab for the first time in an event held a day before the launch of the global mobile industry show in Barcelona on Sunday.In an event called “Samsung Mobile Unpack,” the world’s second-largest handset maker presented Galaxy S 2 and Galaxy Tab 10.1, while designating 2011 as the year of s

TechnologyFeb. 13, 2011

Samsung unveils upgraded Galaxy S, Galaxy Tab

S. Korean mobile carriers to showcase 4G technology solutions in Spain

BARCELONA, Spain (Yonhap) -- South Korean mobile carriers are set to demonstrate in Spain their solutions to the surge in data traffic with fewer base stations and lesser costs, carriers said Sunday. (Yonhap News)KT Corp. and SK Telecom Co. said they can shrink the amount of initial network investment and operation fees with their latest cloud-based long term evolution (LTE) technology, the fourt

IndustryFeb. 13, 2011

S. Korean mobile carriers to showcase 4G technology solutions in Spain

Prices of daily necessities up in Jan.: report

Prices of many daily necessities increased in January despite government efforts to fight rising inflation, a report by the state-run consumer protection watchdog showed Sunday. The report by the Korea Consumer Agency showed that of the 80 everyday consumer necessities monitored such as sugar, cereals and detergents, prices for 53 of the products, or 66.3 percent, went up in the cited month co

Feb. 13, 2011

Korea strives to curb home rent prices

Policymakers plan to expand financial benefits for tenants and further ease regulations to control surging housing rent prices in the country, the Ministry of Land, Transportation and Maritime Affairs said Friday.The latest set of measures is particularly targeted at reducing the deposits for “jeonse,” a Korean rent system under which tenants pay a lump-sum deposit to rent a house for a certain te

Feb. 13, 2011

NASA comet hunter finds its date on Valentine's Day

A U.S. spacecraft’s long-awaited rendezvous with a comet will finally be realized on Valentine’s Day. The comet explorer Stardust-NExT (New Exploration of Comet Temple 1) will approach the comet Temple 1 at a distance of only 200 kilometers at 8:37 p.m., PST, Feb. 14 (1:37 p.m., Feb. 15 in Korea) and NASA will broadcast the encounter live on NASA Television and the agency’s website from 8:30 p.m.

TechnologyFeb. 12, 2011

NASA comet hunter finds its date on Valentine's Day

KOSPI falls below 2,000

Seoul stocks plunged to a two-month low on Friday as foreigners continued their selling spree and an interest rate freeze stoked investor jitters, analysts said.The benchmark Korea Composite Stock Price Index sank 31.31 points, or 1.56 percent, to 1,977.19, extending a losing streak to a fourth session. The benchmark index fell below the 2,000-point level for the first time this year, sinking to i

Feb. 11, 2011

Central bank puts off key rate hike

The Bank of Korea kept its benchmark interest rate for February unchanged Friday despite growing inflationary pressures, which may invite severe criticism in the market.The central bank’s Monetary Policy Committee kept the key rate untouched after it raised it by 25 basis points to 2.75 percent in January. The bank only confirmed its earlier stance for a gradual rate hike.Like several past cases,

Feb. 11, 2011

IMF calls for global monetary reform

IMF chief urges bigger global role for yuan, emerging economies' currenciesWASHINGTON (AFP) ― IMF chief Dominique Strauss-Kahn on Thursday said the currencies of China and other emerging economies should play a greater role in global finance, as part of a bid to promote monetary stability.Strauss-Kahn, the managing director of the 187-nation International Monetary Fund, backed the inclusion of the

Feb. 11, 2011

Rising producer prices deepen inflation woes

Surging farm product prices lift index to 26-month high in JanuaryKorea’s producer prices rose to a 26-month high in January on stoking agricultural and farm products, posing the prospect of further food price hikes for the consumers.The producer price index, indicating price movements at retailers, increased 6.2 percent in January from a year ago, recording a steeper pace from 5.3 percent posted

Feb. 11, 2011

Rising producer prices deepen inflation woes

Apple Korea settles first iPhone damage suit with teen girl

Apple Korea has agreed to make a payment to a 14-year-old South Korean iPhone user in the nation's first iPhone damage suit filed for the breakdown of her device supposedly caused by water damage, court officials said Friday.Apple agreed to pay 290,000 won (US$259) to the girl, identified only as Lee, in the lawsuit arbitrated by a Seoul court Thursday. iPhone 4 (Yonhap News)Her father, Lee Chul-h

TechnologyFeb. 11, 2011

Apple Korea settles first iPhone damage suit with teen girl

BOK freezes key rate at 2.75 pct for Feb.

South Korea's central bank left the key interest rate unchanged on Friday in a bid to gauge the effect of a surprise rate hike made last month despite concerns about inflation. Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers froze the benchmark seven-day repo rate, dubbed the base rate, at 2.75 percent. Last month, the BOK unexpectedly hiked the borrowing costs by a quarter

Feb. 11, 2011

Korea, U.S. sign supplementary FTA accord

Korea and the U.S. have signed their recently concluded free trade agreement, paving the way for the pending pact to be ratified in both countries, Seoul‘s trade ministry said Thursday.In December last year, both countries reached a final agreement focusing on U.S. demands that South Korea soften its automotive safety and environmental standards.The Korea-U.S. free trade agreement, known as the K

Feb. 10, 2011

Hyundai begins marketing programs for Veloster

Hyundai Motor Co. said Thursday it has launched a marketing program for the Veloster sports coupe releasing limited information about its engine and features. The vehicle will be launched on the local market within the month.The Veloster has an asymmetrical layout ― one door on the driver’s side, and two on the passenger side ― marking Hyundai’s first breaking away from traditional designs. The ve

IndustryFeb. 10, 2011

Hyundai begins marketing programs for Veloster