The Korea Herald

Automotive trade surplus hits record

The trade surplus in the nation’s automotive industry surpassed $60 billion for the first time last year. According to industry data on Tuesday, the combined trade surplus of Korea-made cars and auto parts amounted to $61.7 billion won last year, up 5.8 percent from $58.3 billion in 2011. The figure was more than double the nation’s total trade surplus of $28.5 billion for the year. Despite sluggish car sales in Europe, Korean carmakers continued sales momentum in markets such as the U.S., Easte

IndustryJan. 22, 2013

Shares up on yen weakness

South Korean stocks closed 0.49 percent higher on Tuesday as investors remained cautious over the impact of Japan’s monetary easing to stimulate the economy, analysts said. The local currency edged up against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 9.66 points to finish at 1,996.52. Trading volume was moderate at 547.9 million shares worth 4.2 trillion won ($3.95 billion) with gainers slightly outnumbering decliners 404 to 399.“Investors are now less worried about

Jan. 22, 2013

Advocacy group, Samsung to start leukemia talks

An advocacy group for former employees of Samsung Electronics Co. who allegedly suffered from leukemia and other illnesses while working on chip-making lines accepted the company’s proposal for compensation talks Tuesday, opening the way for resolving the drawn-out dispute.Samsung Electronics has been at loggerheads with the families of the alleged victims of leukemia and other workplace diseases for the past six years. Following the deaths of young semiconductor workers who were diagnosed with

Jan. 22, 2013

Money management of Korea’s superrich

For ordinary people, being rich is a lifelong dream. They are always curious about how the “superrich” ― wealthy people who possess at least 10 billion won ($9.4 million) in total assets ― made seed money and secondary sources of extra income.“Small changes in habits make a huge difference,” said Shin Dong-il, a KB Kookmin Bank private banker who authored “Habits of the Superrich,” a Korean-language bestseller among local management and economics books last year.“First, copy from the essence of

BusinessJan. 22, 2013

LG Display Q4 earnings expected to double

South Korean panel giant LG Display Co. is likely to see its fourth-quarter operating profit nearly double from three months earlier but faces risks stemming from its key customer Apple Inc. in the first quarter, analysts said Tuesday.The display maker is expected to have reaped an operating profit of 438.3 billion won ($411.4 million) in the October-December period, compared with the 253.4 billion won in the previous quarter, according to estimates by local securities firms compiled by Yonhap I

IndustryJan. 22, 2013

Local builders eye niche markets

The nation’s major builders are turning their eyes to new markets as local demand has been contracting and overseas competition escalating.Their mutual keyword for survival is diversification and specialization.“Though the Middle East is still the largest overseas market, our long-term vision is to see beyond the present and to develop new potential,” said an official of Hyundai Engineering and Construction Co.Last year, the company reclaimed its previous lead in the overseas construction contra

IndustryJan. 22, 2013

Have we created certainty? Not yet

At the last possible moment, Congress and the president arrived at a compromise that resolved part of the fiscal cliff. Although there was a sense of relief in Washington and nationally that the worst aspects of the impending tax increases and spending cuts were dealt with, there is still much more work to be done. What has been dubbed the fiscal cliff is in reality a set of tax and spending changes put in place in July 2011 when the U.S. went through a debt ceiling and a fiscal crisis. The agre

Jan. 22, 2013

Lotte to volunteer with customers

Lotte Department Store on Tuesday said it is planning a series of events to jointly pursue volunteer projects with its customers, such as by inviting them to join programs for offering medical aid with the help of local doctors’ organizations.The department store has already issued the invitations via its website. The campaign involves both Lotte employees and the company’s customers, who will together with the Korean Open Doctors Society offer their aid to the underprivileged throughout the yea

IndustryJan. 22, 2013

Overweight drivers at higher risk of death in accidents: study

Overweight people are more likely to die in a car accident than those who of normal weight, according to a study by researchers at University of California, Berkeley.The study was conducted on a total of 3,403 traffic accidents which involved 6,806 drivers, mostly men. The team divided the overweight people into three groups, “most obese with a BMI of 40, severely obese with a BMI index of 35 to 39.9 and obese with an index of 30 to 34.9.” Those with a BMI of 18 to 25 are considered healthy. The

TechnologyJan. 22, 2013

Overweight drivers at higher risk of death in accidents: study

Lotte Card investigated over consumer complaints

The Financial Supervisory Service conducted a two-month investigation into Lotte Card, as the company ranked bottom in consumer protection among five major credit card issuers.“(For an intensive probe), we dispatched inspectors to the headquarters of Lotte Card between September and October (in 2012),” an FSS official told The Korea Herald on Tuesday.In addition to the on-site investigation, the FSS summoned Lotte Card’s executives to be held accountable for the poor grade and called on them to

Jan. 22, 2013

Loneliness corrodes health

Loneliness boosts inflammation, which is linked to coronary heart disease, type 2 diabetes, arthritis and Alzheimer‘s disease, U.S. researchers suggest. Lead author Lisa Jaremka, a postdoctoral fellow at the Institute for Behavioral Medicine Research at Ohio State University, and colleagues found people who were more lonely showed signs of elevated latent herpes virus reactivation and produced more inflammation-related proteins in response to acute stress than people who felt more socially conne

TechnologyJan. 22, 2013

Seoul shares close 0.49 pct up on yen weakness

South Korean stocks closed 0.49 percent higher on Tuesday as investors remained cautious over the impact of Japan's monetary easing to stimulate the economy, analysts said. The local currency edged up against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 9.66 points to finish at 1,996.52. Trading volume was moderate at 547.9 million shares worth 4.2 trillion won (US$3.95 billion) with gainers slightly outnumbering decliners 404 to 399."Investors are now less worr

Jan. 22, 2013

Google co-founder spotted on NY subway with ‘wearable computer’

Google co-founder Sergey Brin was spotted on the New York subway wearing glasses-cum-smart device “Google Glass.”U.S.-based IT magazine PC Magazine reported on Monday that Brin caught the eyes of citizens on the subway on Sunday.A New York resident named Noah Zerkin posted a photo of Brin on Twitter spotting the Google co-founder.Zerkin also posted a photo of himself wearing Brin’s Google Glass, adding that he couldn’t operate the device since mobile phone service was not available in New York’s

TechnologyJan. 22, 2013

Google co-founder spotted on NY subway with ‘wearable computer’

Rumors of multiple iPhones from Apple

New rumors suggest Apple will bring out three new iPhone models this year, including one dubbed the “iPhone Math,” tech sites say.Brightwire.com, translating stories from the China Times and Taiwan-based Commercial Times, said the iPhone Math would feature a 4.8-inch screen and an 8-megapixel camera. Brightwire could offer no explanation for the odd moniker, especially since all previous and current iPhones have model names consisting of just numbers and letters, such as the iPhone 3G and the iP

TechnologyJan. 22, 2013

Seoul shares up 0.06 pct in late-morning trade

South Korean stocks traded 0.06 percent higher late Tuesday morning as investors sat on the sidelines ahead of the results of Japan's key policy meeting, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 1.15 points to 1,988.01 as of 11:20 a.m.Tech shares led the rise, with Samsung Electronics gaining 1.24 percent and LG Display rising 2.28 percent. Top mobile carrier SK Telecom advanced 1.78 percent and No. 2 player KT rose 1.89 percent.The Japanese central bank is exp

Jan. 22, 2013

Seoul shares trade higher after weak start

South Korean stocks opened a tad lower Tuesday but soon moved to positive territory on gains in auto and tech shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.33 points, or 0.07 percent, to 1,988.19 in the first 15 minutes of trading.Market bellwether Samsung Electronics climbed 0.21 percent and LG Display advanced 1.58 percent.Top automaker Hyundai Motor gained 0.24 percent and its smaller affiliate Kia Motors added 0.56 percent.The local currency was changin

Jan. 22, 2013

LG to expand Optimus G global release

South Korean handset maker LG Electronics Inc. on Tuesday announced plans to expand the global availability of its flagship "Optimus G" smartphone in the first quarter.LG plans to launch the long-term evolution (LTE) smartphone in 50 countries across Europe, Asia, Latin America and Africa in the January-March period, the company said in a press release.The company is set to kick off the move in Singapore later this month with mobile operator StarHub, according to a company spokesman.The move com

TechnologyJan. 22, 2013

Bacchus spin-off plan stirs row over Dong-A Pharm governance

Dong-A Pharmaceutical, Korea’s largest drug maker, is grappling with controversy over corporate governance as it plans to set up a holding company and put its cash cow energy drink business, Bacchus, under an unlisted firm.With the National Pension Fund, which controls a 9.5 percent stake in Dong-A, holding the casting vote, industry observers expect the state-run fund’s stance to be an indicator of the incoming Park Geun-hye administration’s policy on corporate governance.The case is drawing mo

IndustryJan. 21, 2013

Bacchus spin-off plan stirs row over Dong-A Pharm governance

Foreign holdings of Korean bonds hit new record

Foreign investments in bonds increased in 2012, spurred by monetary easing overseas that led to an inflow of capital seeking higher-yielding assets.According to the Bank of Korea, foreign net shareholdings in Korean treasuries and monetary stabilization bonds reached a record high of 91 trillion won ($86 billion) as of the end of December 2012, accounting for 7 percent of the total.Funds from the U.S., Hong Kong and Singapore were the biggest investors of Korean fixed-income securities, with the

Jan. 21, 2013

Foreign holdings of Korean bonds hit new record

Orange juice worst for teeth: report

Orange juice, lemonade and other acidic fruit juices increase the risk for tooth decay the most among mass-produced drinks, a study showed Monday.A research team at Seoul National University Hospital’s School of Dentistry studied the relationship between the level of acid and the possibility of tooth erosion with eight types of drinks, such as lemonade, soda, sports, drinks and kids’ beverages, for eight days.Orange juice had the worst effect of teeth erosion and decreased enamel hardness, the s

TechnologyJan. 21, 2013