The Korea Herald

Korea to step up R&D support for small firms

Competitive parts suppliers to receive funding for up to three yearsSouth Korea is poised to offer funding for research and development at a total of 50 prospective small-sized local parts and materials makers in order to bolster the nation’s industrial competitiveness, the Ministry of Knowledge Economy said Thursday.The ministry will provide selected firms that are posting average annual sales of

IndustryMay 5, 2011

Kim keeps silent on FSS irregularities

Expert says top regulator has bigger responsibility as decision-makerThe Financial Services Commission has remained silent about the recent woes of its executive arm ― the Financial Supervisory Service, which is facing tough public criticism due to irregularities.The irregularities include allegations that several FSS staffers took kickbacks from debt-ridden savings banks and the regulator’s failu

May 5, 2011

Construction industry suffered in 2010: report

South Korea’s construction industry went through hard times last year despite a general boom in growth in other sectors, a report by the central bank showed Thursday.The woes were mainly due to the sluggish local real estate market that caused a general drop in houses being built across the country and led to a decrease in work. Such developments exerted negative influence on key numbers such as r

May 5, 2011

Card loans dwindle in Q1

The total amount of loans offered to local credit card holders decreased in the first quarter compared to the last three months of 2010 as financial institutions and state regulators tightened oversight to prevent risks down the road, an industry report showed Thursday.The latest findings showed card loans provided by six dedicated cards, excluding BC Card, reached 5.45 trillion won ($5.07 billion

May 5, 2011

KDB: Korea’s flagbearer in international financing

State-run bank focuses on diversifying funding sources by tapping niche marketsFor more than 40 years, the Korea Development Bank has built up a reputation as a core Korean bond issuer in the global capital market.The state-run bank was founded with a mandate to supply and manage major industrial capital to develop Korean industries and the economy.KDB bond has continued to perform a crucial role

May 5, 2011

KDB: Korea’s flagbearer in international financing

Women and heart disease

Women tend to think that breast cancer is their biggest health threat. While it is important, heart disease remains the No. 1 killer of women, even young women.The risk of heart disease in women increases with age. Heart disease is the leading cause of death in women over 40 years old, especially after menopause. Every year, more than 500,000 U.S. women die of heart disease. This translates to app

TechnologyMay 5, 2011

Rethinking HRT: Menopausal women take charge of choices

DETROIT ― Johanne Erickson could handle two to three hot flashes a week when her perimenopause symptoms began two years ago, when she was 44.But by February, 40 to 50 hot flashes a day plagued the Oxford, Michigan, woman.Erickson, a human resources manager for an automotive supplier, turned into the office joke. Friends bought her a cache of fans.“At some point you either have to laugh about it an

TechnologyMay 5, 2011

Rethinking HRT: Menopausal women take charge of choices

Diabetes: Watch out before it’s too late

How much do we know about diabetes? Kim Sung-rae, chairman of committee of public relations at the Korea Diabetes Association, shares some key fact about diabetes with The Korea Herald to raise public awareness of the disease ― Ed.About 5 million people in Korea are assumed to be diabetic. But only half of them are aware of their disorder and only half those diagnosed with diabetes visit doctors r

TechnologyMay 5, 2011

Businesses expect boost from EU FTA

(Speaker Park Hee-tae (upper left) presides over the plenary session for the vote on the Korea-EU free trade agreement in the National Assembly on Wednesday. Yang Dong-chul/The Korea Herald)U.S. says images would inflame anti-U.S. sentiment, incite violenceThe free trade agreement with the European Union, ratified by South Korea’s National Assembly on Wednesday after months of rickety proceedings,

IndustryMay 5, 2011

Kung fu helps cabin crew deal with troublesome passengers

Cabin crews from Hong Kong Airlines practise Wing Chun, a concept-based Chinese martial art or Kung Fu, during a lesson in Hong Kong Saturday, April 30, 2011. A Hong Kong airline makes all its cabin crews to take Wing Chun lessons as helping them to build the team spirit and to learn self-defense. (AP-Yonhap News)Hong Kong Airlines cabin crew are attending kung fu lessons to help them handle drunk

May 5, 2011

Kung fu helps cabin crew deal with troublesome passengers

EU FTA can boost exports of S. Korean SMEs: KOTRA

The free trade agreement (FTA) with the European Union (EU) that was ratified by South Korea's parliament can boost exports of products made by local small and medium-sized enterprises (SMEs), a state-run trade promotion agency said Thursday. The Korea Trade-Investment Promotion Agency (KOTRA) said it has selected 10 products that local companies enjoy global competitiveness in and that could m

May 5, 2011

U.N. agency could press N. Korea to stop hacking Seoul: report

A United Nations agency responsible for information and communication technologies could urge North Korea to stop its run of cyber attacks on South Korea, a U.S. report said Thursday. In an interview with Radio Free Asia (RFA), Sanjay Acharya, spokesman for the International Telecommunication Union (ITU), said the board of directors at the Geneva-based agency could press North Korea since it is

TechnologyMay 5, 2011

Asian countries agree on crisis prevention efforts

Finance ministers of Asian countries agreed Wednesday to intensify their cooperation in staving off Asia-wide financial turmoil by taking preemptive crisis prevention measures, Seoul officials said.The agreement, which was made during a meeting in Hanoi, Vietnam, focuses on strengthening the role of a regional financial safety net under the Chiang Mai Initiative Multilateralization (CMIM), the Min

May 4, 2011

Foreign stock ownership tops 400 trillion won

Foreign ownership of stocks listed on the Korea Exchange has exceeded 400 trillion won ($373 billion) for the first time. The record figure comes four years after their holding reached 300 trillion won in May 2007.The Financial Supervisory Service said Wednesday that foreign investors’ holdings of local shares came to a record high of 412.5 trillion won at the end of April, up 17.1 trillion won fr

May 4, 2011

Foreign stock ownership tops 400 trillion won

Finance chiefs vow to bolster regional safety net

Korea, China, Japan agree to double regional emergency liquidity fundFinance ministers of South Korea, Japan and China on Wednesday vowed to strengthen the crisis prevention function of the current regional financial safety net of the Chiang Mai Initiative, their joint statement said.Gathered for an annual Asian Development Bank conference in Hanoi, Vietnam, the three finance chiefs also agreed to

May 4, 2011

Finance chiefs vow to bolster regional safety net

Value of automobile imports to reach 10% of exports

The value of the country’s automobile imports may exceed 10 percent of the value of exports for the first time this year.According to industry data, the value of automobiles imported into the country during the first quarter of the year came in at $1.15 billion while that of exports was tallied at $9.37 billion. The figures include passenger cars, buses and commercial vehicles.At the current rate,

IndustryMay 4, 2011

Value of automobile imports to reach 10% of exports

STX to offer internships to Saudi Arabian students

STX Group is to set up internship programs for Saudi Arabian students, the conglomerate announced Wednesday.The group, the country’s 12th largest business group, signed a memorandum of understanding regarding the issue with the Saudi Arabian Culture Mission to Korea at the group’s office in Seoul.Under the agreement, the group will offer internship programs at its subsidiaries including STX Offsho

IndustryMay 4, 2011

STX to offer internships to Saudi Arabian students

Retired FSS staff banned from working at banks

The Financial Supervisory Service on Wednesday decided to ban its staffers from taking senior posts at financial companies right after their retirement as a way to prevent corruption. The decision came as part of its sweeping reform measures following several incumbent FSS staffers’ wrongdoings.In its statement, the regulatory body said it would ban the habitual practice under which incumbent and

May 4, 2011

Samsung’s Galaxy S2 gains instant popularity

Samsung Electronics’ flagship smartphone Galaxy S2 is creating its sales sensation in the local mobile industry as doubled compared to its previous model.The total number of units sold for the upgraded Galaxy S, serviced by the country’s three telecoms, surpassed 120,000 in only three days, according to industry sources.The figure sold by the nation’s leading mobile carrier SK Telecom came to abou

IndustryMay 4, 2011

Samsung’s Galaxy S2 gains instant popularity

SK Group joins no-smoking drive

Yet another industrial giant has decided to join the growing number of companies to create a smoke-free working environment.On Wednesday, SK Group, a local energy and telecom giant, said it informed workers that it is to completely ban smoking from its headquarters starting next week. The ban will be effective from Monday in all 35 stories of the SK building in downtown Seoul, which serves as home

IndustryMay 4, 2011