The Korea Herald

Apple claims Galaxy Note, new Android infringe patent

Apple Inc. told a judge that Samsung Electronics Co.’s Galaxy Note 10.1 device infringes its patents, and sought to add the Android 4.1 Jelly Bean operating system to an existing lawsuit against Samsung in California.Apple made the arguments Wednesday to U.S. Magistrate Judge Paul S. Grewal in federal court in San Jose. Apple’s bid to expand the lawsuit follows Samsung’s Oct. 1 move to add patent- infringement claims against the iPhone 5 in the same case. Apple won a $1.05 billion jury verdict a

IndustryNov. 7, 2012

G-Star to showcase newest online, mobile games

G-Star, the country’s largest international game show and trade exhibition, kicks off on Thursday in BEXCO, Busan, to showcase the newest online and mobile games as well as arcade, board and console games. A total of 434 game makers from 31 countries will participate in the eighth edition of the annual exhibition to be held until Sunday in a wide, 43,000-square-meter venue. G-Star 2012 will greet about 15 percent more participating companies than last year, at a 40 percent larger exhibition ven

TechnologyNov. 7, 2012

G-Star to showcase newest online, mobile games

Income gap between men and women remains huge

Women with high-paying jobs earn significantly less than their male counterparts and are more likely to be laid off, according to a report by a British institution.Chartered Management Institute conducted research on the gender pay gap based on experiences of around 39,000 executives, and found out that female executives receive about half a million British pounds ($800,000) less that men. In addition to lower salaries, they are less likely to get a bonus. It was also revealed in the study that

IndustryNov. 7, 2012

Income gap between men and women remains huge

Researchers warn of a world going acidic

While world attention is focused on climate change and extreme weather, U.S. researchers say another global change underway must be addressed: acidification.The combustion of fossil fuels, smelting of ores, mining of coal and metal ores and the application of nitrogen fertilizer to soils are all driving down the pH of the Earth's air, water and the soil at rates faster than Earth's natural systems can buffer, posing threats to both land and sea life, they said.Janet Herman of the Department of E

TechnologyNov. 7, 2012

Puncture-proof bike tire runs without air

LITTLETON (UPI) -- A number of designs for airless tires for cars have been put forward over the years, but one U.S. company says its new version is intended for bicycles.Colorado-based Britek Tire and Rubber has been working on an airless tire it calls the Energy Return Wheel, where a rubber tread and sidewall is stretched over an internal scaffolding of rods and cushions that allows the tire to give in the same way a pneumatic tire does.Mounted on carbon fiber rims, rubber is stretched tight a

TechnologyNov. 7, 2012

Puncture-proof bike tire runs without air

Koreans buy domestic phones, tablets abroad

An increasing number of Korean customers are ordering LG Nexus 4 smartphones and Samsung Nexus 10 tablets from the U.S., since they cost only about half of other up-to-date smartphones sold in Korea, according to news reports.Korean customers are willing to buy the newest smartphone and tablet from overseas despite the possible difficulties in customer services, local reports said Monday. With the increase in demand, many Koreans studying in the U.S. and Canada have posted offers online to rese

TechnologyNov. 6, 2012

Koreans buy domestic phones, tablets abroad

[Newsmaker] Nuclear plant fiasco a matter of public trust

Distrust with the government is deepening following the shutdown of two nuclear reactors on Monday for using 230 substandard components. Although the Ministry of Knowledge Economy said the move was a preventive measure to exchange all unsuitable parts by the end of this year, people who remember the nuclear disaster in neighboring Japan last year are concerned over their safety. There is also anger stemming from the fact that the supply of substandard parts to Korea Hydro & Nuclear Power Co., th

Nov. 6, 2012

[Newsmaker] Nuclear plant fiasco a matter of public trust

SK Telecom Q3 sales up 2 percent on-year

SK Telecom Co., South Korea’s top mobile carrier, on Tuesday said its net profit more than halved in the third quarter on increased spending to promote the faster long-term evolution network.Net profit came to 175.6 billion won ($160.8 million) in the July-September period, compared with a profit of 383.9 billion won a year earlier, SK Telecom said in a regulatory filing.Revenue gained 2 percent on-year to 4.1 trillion won in the cited period, while operating profit tumbled 46.4 percent on-year

IndustryNov. 6, 2012

Asiana Airlines swings to profit in Q3

Asiana Airlines Inc, South Korea’s No. 2 flag carrier, said Tuesday it swung to a net profit in the third quarter of this year due to favorable foreign exchange rates.Consolidated net profit reached 80.2 billion won ($73 million) in the three months ended Sept. 30, a dramatic turnaround from a net loss of 34.7 billion won profit a year earlier, the carrier said in a regulatory filing.Sales also gained 5.2 percent on-year to 1.5 trillion won. However, the company’s operating profit dropped 39.6 o

IndustryNov. 6, 2012

Banks’ foreign-currency deposits hit fresh high

Foreign currency deposits at South Korean banks rose to a fresh high in October largely due to a gain in the country’s trade surplus, the central bank said Tuesday. Outstanding foreign currency-denominated deposits held by local residents reached a record $39.39 billion as of the end of October, up $130 million from the previous month, according to the Bank of Korea. Residents in this case include individual citizens and firms but not foreign nationals with residency status. The data also exclud

IndustryNov. 6, 2012

Shares up 1.05% as autos recover

South Korean stocks climbed 1.05 percent on Tuesday as key automakers rebounded from sharp falls spurred by a fuel efficiency scandal in the U.S., analysts said.The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index soared19.95 points to 1,928.17. Trading volume was moderate at 539.6 million shares worth 4.5 trillion won ($4.1 billion), with gainers outnumbering decliners 493 to 334.“We saw excessive sell-offs of Hyundai and Kia shares in the previous s

Nov. 6, 2012

Malaysian property firm to go ‘Gangnam style’ on Jeju Island

Jeju Island is the next stop where Berjaya Land Berhad hopes to implant the company’s version of the “Malaysian Dream” involving a high-end healing resort. “We’re confident that we chose the right place,” said Dato Francis Ng Sooi Lin, chief executive of Berjaya Land Berhad, in an interview with The Korea Herald.The company ― an affiliate of Malaysian conglomerate Berjaya Group ― plans to build facilities worth $2.4 billion on the Korean tropical island based on a business partnership with Jeju

IndustryNov. 6, 2012

Malaysian property firm to go ‘Gangnam style’ on Jeju Island

Korea’s risk premium falls to pre-crisis levels: data

South Korea’s credit default risk has dropped to levels seen before the 2008 financial crisis erupted, mirroring its solid economic fundamentals, data showed Tuesday. The credit default swap premium on the country’s five-year Treasuries came to 65 basis points as of Nov. 2, the lowest in more than four years since the 64 basis points tallied in May 22, 2008, according to the Korea Center for International Finance. The spread on CDS reflects the cost of hedging credit risks on sovereign or corpor

Nov. 6, 2012

FSS probes financial firms over sales of retirement pensions

The Financial Supervisory Service has launched a full-fledged investigation into 58 financial firms for their allegedly irregular sales of retirement pension products.“The 58 firms which sell retirement pensions are composed of commercial banks, insurance companies and brokerage houses,” the FSS said in a statement. “Their overheated competition and irregularities will closely be examined.”As the retirement pension market has swiftly expanded over the past few years, many financial firms are sus

Nov. 6, 2012

Samsung head plans low-key anniversary

Samsung Electronics chairman Lee Kun-hee’s 25th anniversary as chairman coming up early next month is expected to go by without much fanfare, despite this year being special for Samsung Group and the executive, industry sources said on Tuesday.This is the first year Samsung’s brand value was among the world’s top 10 brands, as chosen by a world-renowned brand consultancy. Samsung Electronics also has posted record-high earnings on the back of brisk smartphone sales. But the global company appear

IndustryNov. 6, 2012

Mileage fiasco muddies outlook for Hyundai

The prospects of the longer-term impact of the latest scandal involving gas mileage overestimates of Hyundai and Kia cars sold in the U.S. are mixed, industry watchers said on Tuesday. “The mileage fallout would negatively affect the consumer awareness about Hyundai and Kia cars in the U.S.,” said Koh Tae-bong, an analyst at HI Investment and Securities. “But they consider the companies’ prompt action a plus, unlike the Toyota recall crisis in the past.”He added that he needs to look at November

IndustryNov. 6, 2012

Hanjin, Hyundai face hurdles in bolstering finances

South Korea’s Hanjin and Hyundai groups are confronted with difficulties in their efforts to make their balance sheets cleaner amid controversy over the nature of perpetual bonds they are seeking to issue, industry sources said Tuesday.The controversy came after the country’s financial authority said it is problematic to recognize perpetual bonds as capital. The Korea Accounting Institute is set to decide a final position on the nature of such bonds on Thursday before conveying its decision to t

Nov. 6, 2012

The K-Strategy: The secret to Korea’s success

In September 2011, the cover story of a Brazilian magazine (Negcios) was on Korea’s economic success, which noted that Korea’s speedy culture (“Ppali ppali”) and imitation were the two drivers of the country’s growth. Although these two factors have contributed to Korea’s recent economic growth, we cannot attribute Korea’s success over the last several decades to merely speed and imitation. There are more important factors that have allowed Korea to achieve the growth that it has, which can be s

Nov. 6, 2012

The K-Strategy: The secret to Korea’s success

Number of listed firms plunges amid uncertainties

The number of companies listed on the local stock markets plunged to a 26-month low in October amid a protracted global economic slowdown, data showed Tuesday.According to the data by the Financial Supervisory Service and the Korea Exchange, the number of listed firms on the main bourse and the secondary market reached 1,792 as of the end of last month, the lowest since 1,785 firms were tallied at end-August 2010.The main bourse held 786 companies at end-October, down 5 firms from end-2011, the

Nov. 6, 2012

Where singles become a ‘duo’

Dating is not enough. The nation’s No.1 matchmaking agency Duo wishes to take part in the next crucial steps of life: marriage and having a family. “We’ve already made a name for ourselves as a professional matchmaker. It’s time we branched out into other business, and believe me, weddings and marriage consulting is right up our alley,” said Kim Hyae-jeong, president and CEO of Duo in an interview. Dressed simply but tastefully in a violet-colored jacket and matching slacks, Kim explained that s

Nov. 6, 2012