The Korea Herald

[Newsmaker] Safety worries grow for ‘Dreamliner’

The 787 Dreamliner is Boeing’s newest and most sophisticated passenger jet. It is the world’s first passenger jet built mainly from lightweight carbon-plastic materials, while the use of a lithium-ion battery to start the auxiliary power unit is also unprecedented. The innovative technologies cut fuel costs largely by about a fifth. Airline companies worldwide have ordered more than 800 of the jets, which have a price of $207 million. But the 787 has been hit by technical and electric malfunctio

IndustryJan. 15, 2013

[Newsmaker] Safety worries grow for ‘Dreamliner’

Samsung reaps W2tr from TV sales in 2012

Samsung Electronics Co., the world’s biggest maker of smartphones and computer memory chips, reaped an estimated 2 trillion won ($1.9 billion) operating profit last year by selling TVs, data showed Tuesday. The South Korean TV giant is forecast to have sold 53 million TVs, including 51.3 million flat-panel TVs, in 2012, according to the industry data. The company does not disclose figures of annual TV shipments.If the amount is on track, it accounts for roughly 7 percent of Samsung’s 2012 operat

IndustryJan. 15, 2013

Shares drop 1.16% on foreign selloff

South Korean stocks retreated 1.16 percent Tuesday, as overseas investors dumped shares to take profits from recent rises, analysts said. The Korean won lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index slid 23.30 points to close at 1,983.74. Trading volume was heavy at 542 million shares worth 4.37 trillion won ($4.14 billion) with decliners far outstripping gainers 535 to 263. “The earnings season kicked off in the U.S., except that there isn’t really anythin

Jan. 15, 2013

Daewoo microwaves hailed ‘best buy’ in U.K.

Daewoo Electronics’ microwave ovens were selected as a “best buy” item in the U.K. to become the first Korean-made appliance to receive such recognition, the Seoul-based company said on Tuesday. “Which,” a top U.K.-based magazine of a charity focused on product testing and consumer campaigning, designated Daewoo Electronics’ ovens as a “best buy” for its high-quality functions, energy efficiency, user-friendly features and brand credibility. Daewoo said the achievement was particularly significa

IndustryJan. 15, 2013

LG Uplus unveils measures to support small suppliers

By Cho Ji-hyunLG Uplus announced Tuesday that it will pay cash ― up to 1.2 trillion won per year ($1.13 billion) ― to its partners instead of issuing postdated checks for the partners’ improved liquidity.The mobile carrier also said the shared growth fund will be doubled to 50 billion won from the previous 25 billion won so that its partners could lend money at low interest rates.The announcement came as LG Uplus publicized a set of shared growth measures together with about 10 smaller partnerin

IndustryJan. 15, 2013

LG Uplus unveils measures to support small suppliers

Hyundai unveils new Genesis concept car at Detroit show

Hyundai Motor unveiled the new design concept of its flagship luxury sedan Genesis at the North American International Auto Show held in Detroit on Monday, which reflects the Korean auto giant’s ambitious plan for transformation into a premium brand. Designed on a rear-wheel layout, the concept car called “HCD-14” features a sportier, coupe-style design that still follows the Korean auto giant’s “Fluidic Sculpture” design philosophy. “We’ve departed from industry convention in many of our premiu

IndustryJan. 15, 2013

Hyundai unveils new Genesis concept car at Detroit show

Market bets on cigarette price hike

Despite denial from the Finance Ministry, the incoming Park Geun-hye government is expected to raise the prices of cigarettes to fund social welfare programs, analysts said Tuesday.The Ministry of Strategy and Finance denied news reports that policymakers are poised to raise cigarette prices or create a new tax on the products.The official denial came a day after a news provider reported that “the Finance Ministry and the Ministry of Health and Welfare are pushing ahead with a hike in tobacco pr

Jan. 15, 2013

Park bolsters power of finance minister

The decision to revive the post of deputy prime minister in charge of economy reflects President-elect Park Geun-hye’s determination to bolster the power of finance minister to tide over the current economic difficulties facing the nation.The post of deputy prime minister was scrapped during the Lee Myung-bak administration. The finance minister will concurrently serve as the deputy prime minister under the Park administration.The personnel policy that the finance minister also takes on the post

Jan. 15, 2013

KEPCO emerges as 4th-largest power provider in Philippines

This is the first in a series of case studies on the nation’s leading state-run companies which have made success stories overseas. ―Ed.The state-run Korea Electric Power Corp., or KEPCO, the nation’s sole electricity transmission and distribution company, is not only lighting up Korean households, offices and plants. It entered the overseas electricity generation market in 1996 when it won an order from the Philippine government for the construction of a 1,200-megawatt combined-cycle power plan

IndustryJan. 15, 2013

KEPCO emerges as 4th-largest power provider in Philippines

Glass ceiling remains thick in securities industry

Lee Ha-eun, 22, who majors in business administration at Korea University, is reconsidering her career goal to become a securities analyst in Korea after getting career counseling from her alumni working in the financial sector. “I was disappointed, as all of my seniors, male and female, advised me to reconsider starting my career at a securities firm,” she told The Korea Herald. Key barriers for women at local securities firms mentioned by her career coaches include an intense and male dominant

Jan. 15, 2013

Glass ceiling remains thick in securities industry

Berries may reduce heart attack risk

Women who ate at least three servings of blueberries and strawberries per week had fewer heart attacks, U.S. and British researchers say. Senior author Eric Rimm of the Harvard School of Public Health in Boston said blueberries and strawberries were used simply because they are the most eaten berries in the United States. Researchers at the Harvard School of Public Health and the University of East Anglia in England conducted a prospective study among 93,600 women ages 25-42, part of the Nurses‘

TechnologyJan. 15, 2013

Seoul shares drop 1.16 pct on foreign selloff

South Korean stocks retreated 1.16 percent Tuesday, as overseas investors dumped shares to take profits from recent rises, analysts said. The Korean won lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 23.30 points to close at 1,983.74. Trading volume was heavy at 542 million shares worth 4.37 trillion won (US$4.14 billion) with decliners far outstripping gainers 535 to 263. "The earnings season kicked off in the U.S., except that there isn't real

Jan. 15, 2013

Hotel Shilla's head shows gratitude to staff

Lee Boo-jin, the eldest daughter of Samsung Electronics chairman Lee Kun-hee who is said to most strongly resemble her father in both looks and personality, was moved to tears by her staff, sources close to Hotel Shilla said.The younger Lee, who is the president of the hotel, treated the entire hotel staff to lunch on Jan.10, a day after the birthday celebrations for her father were held on the hotel grounds last week.All 500 of them, including bellboys and housekeepers were treated to a meal co

IndustryJan. 15, 2013

Hotel Shilla's head shows gratitude to staff

Telecom giant KT launches global music app

KT Corp., South Korea's top fixed line and No. 2 mobile operator, said Tuesday it has launched its smartphone music app in 45 countries, a move that comes in line with its overseas expansion drive and the growing popularity of K-pop.Android device users can download the "Genie K-pop" app at Google Play stores in 45 countries, KT said in a press release, adding the country plans to expand the service to 10 additional countries.The 45 countries include major markets in Asia, Europe and America suc

IndustryJan. 15, 2013

U.S. tech firm introduces dynamic keyboard for touch device

Tactus Technology unveiled a touch screen with buttons that rise up from the surface on demand at the Consumer Electronics Show in Las Vegas.The California-based company called the technology a “tactile user interface.” It features a convex keyboard that sits on top of the existing touch screen, and then recedes back into the screen.The keyboard features a small amount of fluid in a reservoir embedded in the phone or tablet. The company’s official website said that the buttons’ layout and shape

TechnologyJan. 15, 2013

U.S. tech firm introduces dynamic keyboard for touch device

Apes have a sense of fairness: report

A study has found that Chimpanzees have a sense of fairness, which had long been regarded as unique to humans.Researchers at the Yerks National Primate Research Center in Emory University conducted research to find out if chimpanzees have a human-like sense of equality. The researchers tested six apes on the Ultimate Game. In the game, two players are rewarded with a small prize only if one individual agrees to split the prize. Adult humans most often offer a suggestion that equally benefits bot

TechnologyJan. 15, 2013

Seoul shares down 0.5 pct in late-morning trade

South Korean stocks traded 0.5 percent lower late Tuesday morning, led by losses in utilities and tech issues, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 10.01 points to 1,997.03 as of 11:20 a.m.State-run electricity provider Korea Electric Power Corp. dipped nearly 2 percent, with tech blue chip Samsung Electronics falling 1.6 percent. In contrast, telecom and auto shares continued their winning streak, with SK Telecom jumping around 3 percent. The local curr

Jan. 15, 2013

Seoul shares inch up after weak start

South Korean stocks got off to a weak start but soon rose slightly on the back of foreign buying amid a lack of positive leads, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) began 0.15 percent lower as soon as it opened but turned to trade up 2.24 points, or 0.11 percent to 2,009.28 in the first 15 minutes of trading. Overseas investors started off snapping up local shares worth 14.9 billion won (US$14.1 million) as of 9:15 a.m., driving up the main index. Telecom and au

Jan. 15, 2013

Apple cutting orders for iPhone 5 parts

NEW YORK (AP)— Apple shares are falling in premarket trading after The Wall Street Journal reported that the company has cut its orders for iPhone 5 components due to weaker-than-expected demand.The newspaper says two people it did not identify by name told it that Apple's first-quarter orders for iPhone 5 screens have dropped to about half of what the company had planned to order.The report says one of the sources told the newspaper that the U.S.-based company has also cut orders for components

IndustryJan. 14, 2013

Samsung’s Galaxy S sales pass 100 million mark

Samsung Electronics’ Galaxy S lineup has shipped more than 100 million units in less than three years since being launched in 2010, the company said on Monday. Among the lineup consisting of Galaxy S, Galaxy S2 and Galaxy S3, the latest S3 has shipped more than 40 million just over half a year by selling an average 190,000 handsets a day worldwide. The Galaxy S3 model promised to be a hot-seller, having passed the 10 million mark in just 50 days following its launch in May last year with new fea

IndustryJan. 14, 2013