Most Popular
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Heavy, wet snow to fall more often this winter
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SNU professors join growing movement calling for Yoon's resignation
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Presidential office criticizes opposition-led state auditor, prosecutor impeachment motions
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[From the Scene] At this Starbucks, you need ID: Franchise opens store with view of North Korea
![[From the Scene] At this Starbucks, you need ID: Franchise opens store with view of North Korea](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/29/20241129050068_0.jpg&u=)
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‘NewJeans are no longer under Ador,’ says legal expert
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Most foreign-owned land held by US citizens, houses by Chinese
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Samsung promotes tech-savvy execs to tackle challenges
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11 Chinese, Russian military aircraft enter S. Korea’s air defense zone
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The 45th Blue Dragon Film Awards kick off with new MCs
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Which surname will Moon and Jung give their child?
![[From the Scene] At this Starbucks, you need ID: Franchise opens store with view of North Korea](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/29/20241129050068_0.jpg&u=)
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Authorities to probe price swings on stock markets
South Korea's financial authorities will increase surveillance on speculative movements in local shares this week, market sources said Monday. A team of officials from the Financial Services Commission (FSC), the Financial Supervisory Service (FSS), the Korea Exchange and prosecutors will launch a probe into price-rigging activities, according to sources.The local stock market has been suffering from price-rigging deals involving several so-called "celebrity shares," which are usually related to
May 6, 2013
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Seoul shares open higher on U.S. gains
South Korean stocks opened higher on Monday, tracking gains on Wall Street in the previous trading session, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 14.28 points, or 0.73 percent, to 1,979.99 in the first 15 minutes of trading.Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor rising 0.5 percent and top steelmaker POSCO adding 0.95 percent. Leading chipmaker SK hynix advanced 1.02 percent.U.S. stocks ended higher on Friday on the coun
May 6, 2013
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Top 10 conglomerates' market cap declines in May
Affiliates of South Korea's top 10 business groups saw their presence on the main bourse decline in May from end-2012 amid the protracted economic slowdown, data showed Monday.The market capitalization of the top 10 conglomerates' listed firms came at 713.1 trillion won ($651 billion) on Thursday, down 2.27 percent from 729.7 trillion won tallied in end-2012, the Korea Exchange (KRX) data showed.The number accounts for 56.62 percent of the combined market cap of the companies listed on the main
May 6, 2013
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Samsung, LG bolster presences in N. American smartphone market in Q1
South Korea's top two smartphone makers -- Samsung Electronics Co. and LG Electronics Inc. -- saw their presences in the North American smartphone market rise, helped by robust sales of their flagship line-up and product mix, data showed on Monday.Samsung Electronics, the world's top smartphone maker, held a 29 percent share in the region's smartphone market in the first quarter, up from the 27.7 percent the previous quarter, according to the data compiled by Strategy Analytics.LG Electronics ga
IndustryMay 6, 2013
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Poor financing shutting Korea out of nuclear deals: ministry
As neighboring Japan celebrates its recent success in winning a $22 billion bid to build a nuclear reactor in Turkey, the Ministry of Trade, Industry and Energy has pledged to build up Korea’s competitiveness in project financing for overseas deals. “Japan’s financial package was clearly favorable,” Kim Jun-dong, director of the ministry’s energy and resource office, told the local press. “Korea, on the other hand, is relatively weak in the field of project financing, especially when it comes to
May 5, 2013
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[Graphic News] Hyundai-Kia making U.S. comeback in 2013 sales
Hyundai Motor and its sister automaker Kia Motors have revved up their presence in the U.S. market since early this year, recovering from last year’s lackluster sales dwarfed by Japanese carmakers.Hyundai and Kia sold a total of 110,871 units, gaining a combined market share of 8.6 percent as of last month, up from 7.3 percent in December.Although their combine market share is still short of the 9-plus percent achieved in April last year, the Korean auto giants are gradually recovering due to in
IndustryMay 5, 2013
![[Graphic News] Hyundai-Kia making U.S. comeback in 2013 sales](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/05/05/20130505000315_0.jpg&u=20130505203224)
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Apple slammed for child, environmental exploitation
The rivalry between Samsung Electronics and Apple Inc. was brought to the fore again after an international organization slammed both tech giants for using suppliers that employ child labor and may harm the environment. According to Friends of the Earth, an international environmental group, Apple has remained silent on the issue of using tin mined from Indonesia, whereas Samsung has responded by saying it will address the issue as soon as it can.“Apple has refused to answer its own customers’ q
TechnologyMay 5, 2013
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Foreign investors increase net sales of Seoul stocks
Foreign investors expanded net sales of South Korean stocks this year on heightened geopolitical risks and concerns that a weaker yen would hurt Korean exporters, data showed Sunday.Foreign investors unloaded a net $5.16 billion worth of Seoul shares from January to April, according to data by the Korea Center for International Finance.Foreigners bought more shares than they sold in five Asian countries including Taiwan and India, purchasing a net $10.56 billion worth of stocks from seven Asian
May 5, 2013
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Seoul considers linking cigarette prices to inflation
South Korea may consider linking cigarette price hikes to the growth of consumer inflation in an effort to reduce the country’s smoking rate and secure more revenue, officials said Sunday.Tobacco prices have been frozen at the current 2,500 won ($2.28) per pack for more than eight years. The health ministry earlier said that average cigarette prices need to be raised to 7,000 won per pack to reduce the country’s smoking rate to what it called a desirable level.The finance ministry said it has re
IndustryMay 5, 2013
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STX to receive W800b from creditors: source
Creditors of STX Group will likely pump at least 800 billion won ($730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat, a source said Sunday.On Friday, STX Group’s troubled holding company, STX Corp., and two affiliates requested main creditor Korea Development Bank supply liquidity in return for its voluntary debt-relief and restructuring efforts.“Creditor banks will discuss how much money will be extended to the group,” said the source. “The figure is expected t
IndustryMay 5, 2013
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BOK likely to freeze key interest rate
The market is eyeing whether the Bank of Korea will cut its key interest rate when it holds its monetary policy committee meeting Thursday, following Europe’s widely expected rate slash from 0.75 percent to a record low of 0.5 percent last week as the eurozone seeks to revive its economy through monetary easing.Despite the government’s growing calls for a lower rate to further spur the economy, Korea’s central bank has kept its key base rate unchanged over the last six months, citing recovery to
May 5, 2013
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Korean delegation out to sell and assure
President Park Geun-hye’s first official visit to the U.S. is largely about politics, but economic issues will remain firmly on the table, as evidenced by the largest-ever business delegation accompanying her.Above all, offering reassurance to the U.S. markets of the safety of Korea despite its rocky relations with the North is going to be the top priority for the delegates, industry watchers said. “We’ve been getting a lot of questions and concerns from foreign companies, including those locate
May 5, 2013
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Ford to set hybrid sales record in five months
Ford Motor Co., seeking to challenge Toyota Motor Corp.’s dominance in gasoline-electric vehicles, said it will pass its full-year record for U.S. hybrid sales this month on demand for its Fusion and C-Max models. Hybrid deliveries for Ford reached a monthly record 8,481 in April, bringing the total this year to 29,561, said Erich Merkle, U.S. sales analyst for the Dearborn, Michigan-based company. Ford’s annual record for such sales was 35,496 in 2010. Chief Executive Officer Alan Mulally has r
MobilityMay 5, 2013
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Hyundai braces for tough race in U.S. luxury market
Hyundai Motor’s premium strategy in the U.S. has recently hit a snag. In the first quarter this year, sales of the Equus sedan decreased 12.3 percent to 928 units from a year ago, while the best-selling Genesis also saw a 1.4 percent decline to sell 8,232. Hyundai Motor Group chairman Chung Mong-koo immediately urged a prompt response to the lackluster performance, which came amid a booming U.S. luxury car market. “Premium car sales are crucial for Hyundai’s brand image. The weak sales of such
MobilityMay 5, 2013
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Korea seeks deeper U.S. economic ties
On her first overseas trip as president this week, Park Geun-hye will also become the first Korean president to visit the United States since the free trade agreement between the two countries took effect in March last year.Observers said the trip also reflects her intention to elevate the two countries’ alliance to a higher level and expand it into the economic domain.The scale of the accompanying business delegation is the largest ever, which includes such tycoons as Samsung Group chairman Lee
May 5, 2013
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Park’s creative economy vision takes shape
Ever since President Park Geun-hye introduced her vision and policy for a “creative economy” after taking office in February, the public and politicians alike have paid particular attention to the slogan.She laid out a number of pointers for the development of a creative economy such as convergence of IT and science, and sustainability of small and medium enterprises, in line with goals of achieving an employment rate of 70 percent.“The main axis that will form the creative economy is science an
May 5, 2013
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BOK likely to freeze rate this week
The market is eyeing whether the Bank of Korea will cut its key interest rate when it holds its monetary policy committee meeting Thursday, following Europe’s widely expected rate cut from 0.75 percent to a record low of 0.5 percent last week.Despite the government’s growing calls for a lower rate to further spur the economy, Korea’s central bank has kept its key base rate unchanged for the last six months, citing an expected recovery toward the latter half of this year.It seems BOK Governor Kim
May 5, 2013
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Top 600 firms' investment to rise 14 pct this year
The top 600 companies in South Korea are likely to increase investment by 13.9 percent this year from a year earlier despite the economic slowdown, a survey showed Sunday.South Korea's 600 biggest companies in terms of sales said their investments are expected to reach a combined 129.7 trillion won (US$118.4 billion) this year, compared with 113.9 trillion won the previous year, according to the poll made by the Federation of Korean Industries (FKI), the country's top business lobby.The survey s
IndustryMay 5, 2013
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Creditors to inject 800 bln won into STX Group this year: source
Creditors of STX Group will likely pump at least 800 billion won (US$730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat, a source said Sunday. On Friday, STX Group's troubled holding company, STX Corp., and two affiliates requested main creditor Korea Development Bank supply liquidity in return for its voluntary debt-relief and restructuring efforts. "Creditor banks will discuss how much money will be extended to the group," said the source. "The figure is ex
IndustryMay 5, 2013
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S. Korea's STX Group mulls selling European shipyards
South Korea's troubled shipbuilding and shipping conglomerate STX Group is considering selling its European assets including its shipyards in France and Finland, a spokesman said Saturday.The group has seen its major affiliates reel under mounting debt as it was hit by a global downturn in the shipbuilding and shipping sectors."We are now in the process of rearranging the corporate structure to focus on domestic shipbuilding. In this context, we are considering the sale of overseas assets to rai
IndustryMay 4, 2013
![[Graphic News] Hyundai-Kia making U.S. comeback in 2013 sales](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/05/05/20130505000315_0.jpg&u=20130505203224)
