The Korea Herald

Samsung Heavy develops system to fend off pirates

Samsung Heavy Industries announced Sunday that it has developed a high-tech anti-pirate system providing enhanced security for ships sailing through danger zones.The system includes remotely controlled water cannons, night vision and an advanced radar system.The shipbuilder said the system will be fitted as standard equipment in all ships built at its yard in Geoje, South Gyeongsang Province.The n

IndustryJan. 23, 2011

Korean iPhone users hit 2m

Apple has something to celebrate despite its CEO Steve Jobs’ medical leave. The number of iPhone users in South Korea reached 2 million and Apple pulled off more than 10 billion app downloads at its App Store worldwide. KT, the sole service provider for Apple’s iPhone and iPad, said it has signed up 2 million iPhone users in a little more than a year after its debut, marking a fresh milestone for

IndustryJan. 23, 2011

Kia’s global share hits record

Kia Motors Corp. saw its global market share come to 2.9 percent, the highest ever for the company, in 2010, industry data showed Sunday.According to the carmaker, it sold about 2.09 million units ― about 485,000 units domestically and 1.605 million units overseas ― in 2010. Comparing the figure to the world market volume of 71.35 million units calculated by J.D. Power and Associates, Kia’s global

IndustryJan. 23, 2011

SKT to launch Bada phone

SK Telecom, the country’s leading mobile carrier, is expected to launch Samsung Electronics’ Wave 2, which runs on Samsung’s proprietary mobile operating system, in Korea as early as this week.Wave 2 will be the first model introduced in the local market that runs on Samsung’s mobile operating platform Bada, developed more than a year ago.“The telecom will make the last call for the launch date, h

IndustryJan. 23, 2011

Will IMF lift prediction on Korea’s 2011 growth?

The Bank of Korea is focusing on the coming revised outlook of the International Monetary Fund for the 2011 global economy as the U.S. economy is showing positive signs of recovery.An issue is whether the IMF will revise its forecast on Korea’s GDP growth upward for this year, from its projection of 4.5 percent in October. The figure was identical to the outlook issued by the BOK.While BOK Governo

Jan. 23, 2011

Daimler launches new cargo truck

Daimler Truck Korea launched the cargo truck Actros on the local market Thursday. With the new truck, Mercedes-Benz is entering the country’s market for large cargo trucks, which accounts for about 60 percent of large truck sales, for the first time. ActrosThe truck is equipped with a V6 engine that puts out 476 brake horsepower, and has been designed for use in various functions including transpo

MobilityJan. 23, 2011

Mitsubishi plans 8 eco-friendly cars by 2015-16

TOKYO (DPA) ― Mitsubishi Motors Corp. plans to launch eight models of electric cars and plug-in hybrids by the financial year that ends in March 2016, the Japanese carmaker said Thursday.The strategy includes the introduction of hybrid vehicles in the 2013-14 financial year, said Mitsubishi, which produces an electric hatchback but has yet to introduce hybrid models.It plans to also expand its lin

MobilityJan. 23, 2011

Subaru launches 2011 Forester

Subaru Korea launched the 2011 Forester compact sport utility vehicle on the local market last Monday.In addition to the usual upgrades seen in model year changes, the new Forester is fitted with the third-generation Boxer engine. 2011 ForesterIn Subaru’s Boxer engine, the pistons are arranged and move horizontally, as opposed to the up and down movement of an inline engine, which according to the

MobilityJan. 23, 2011

Lexus showroom opens in Ilsan

Chunwoo Motors, Toyota Korea’s Lexus dealer for the Yongsan area of Seoul, opened a Lexus showroom in Ilsan-gu, Goyang in Gyeonggi Province on Thursday.The company said that the new showroom will strengthen its sales network in northern Gyeonggi Province including Ilsan and Paju. The showroom is located on the ground floor of a three-story building that includes office space, and a service stall t

MobilityJan. 23, 2011

Hyundai, Kia’s swap between overseas

Hyundai Motors Co. will shuffle production of two models between its Czech factory and a plant operated in neighboring Slovakia by the carmaker’s affiliate, Kia Motors Corp.The factory near Zilina, Northern Slovakia, will take over production of Kia Venga compact cars, which are currently assembled in the Czech Republic, according to Dusan Dvorak, spokesman for the unit. Similarly, production of H

MobilityJan. 23, 2011

Renault Samsung offers free Seolnal checkup

Renault Samsung Motors Co. will be operating vehicle checkup points at 14 rest stops on expressways from Feb. 1 to 6 between 9 a.m. and 5 p.m. for those traveling during the Seolnal, Lunar New Year, holiday.The checkup points offer general checkups free of charge, and replacements for various parts and components. Mechanics stationed at the checkup points will also provide tips on vehicle maintena

MobilityJan. 23, 2011

S. Korea to be world's 7th-largest economy in 2032: official

South Korea is expected to become the world's seventh-largest economy in 2032 if it continues to propel its growth engines, the country's top financial regulator has said. "In 2020, South Korea is likely to become the world's 10th-largest economy. In 2032, it is projected to surpass Germany to join the ranks of the world's seven largest economies," Kim Seok-dong, the head of the Financial Servic

Jan. 23, 2011

Lotte files suit aimed at Shilla shop

Legal battle begins over operation of Louis Vuitton shop at Incheon AirportLotte Duty Free has filed a lawsuit against Incheon International Airport for allowing Shilla Duty Free to open a Louis Vuitton store at the nation’s largest international airport.Lotte said on Thursday that it filed an injunction against the airport because it gave improper favors to Shilla. Lotte Duty Free’s argument was

IndustryJan. 23, 2011

Apple's iPhone users reach 2 mln in S. Korea

The number of Apple Inc.'s iPhone users has surpassed 2 million in South Korea in a little more than one year of its local debut, its distributor said Sunday. Two million iPhones were activated in South Korea as of Jan.20, including 1.03 million units of the iPhone 4, the latest version of the hot-selling device, and 977,000 units of the iPhone 3GS, KT Corp. said in a statement. KT, South Korea's

IndustryJan. 23, 2011

Apple's iPhone users reach 2 mln in S. Korea

Scientist may have found universe’s first star

Remnants of a star that exploded more than 13 billion years ago could be the first star of the universe, BBC news reported. (MCT)All that is left of this pioneer is the gas cloud it threw out into space when it first exploded. The remains of the star are said to have been found when its contents were illuminated by brilliant light coming from the surroundings of a black hole. To identify the stars

TechnologyJan. 21, 2011

Scientist may have found universe’s first star

IMF approves first financial safety loan

The International Monetary Fund approved a two-year contingent credit line to the Republic of Macedonia in the first use of newly launched insurance program guided by the Group of 20 last year. The former Yugoslavian republic became the IMF’s first recipient of the Precautionary Credit Line, securing 476 million euros ($642 million) for this year and next.The measure is part of the international l

Jan. 21, 2011

World’s most expensive apartments sold in London

One Hyde Park is the world's most expensive residential apartment. (Bloomberg)The world’s most expensive residential apartments at One Hyde Park have been officially put on the auction block by property duo the Candy brothers.Nick and Christian Candy claim to have sold over 55 of the 86 luxury apartment properties. On the opening ceremony around 5,000 gold balloons were released from the roof at t

Jan. 21, 2011

World’s most expensive apartments sold in London

GM Daewoo begins production of new MPV Orlando

GM Daewoo Auto & Technology, the South Korean unit of U.S. automaker General Motors Co., said Friday it began producing its new compact multi-purpose vehicle (MPV), the Chevrolet Orlando. The vehicle will be produced at the GM Daewoo plant in Gunsan, 270 kilometers southwest of Seoul. The Orlando is scheduled to be launched here next month as the first of seven Chevrolet vehicles set to be intro

IndustryJan. 21, 2011

Man arrested for extorting money from Samsung Electronics

Samsung Electonics 3D booth at CES in 2011. (Bloomberg)A Seoul man has been arrested on charges of extorting a large sum from Samsung Electronics after intentionally destroying a Samsung cellphone last year, police said Thursday.The 29-year-old man, identified only as Lee, is accused of distorting a compensation of 5 million won (US$4,500) from Samsung Electronics after intentionally destroying hi

IndustryJan. 21, 2011

Man arrested for extorting money from Samsung Electronics

Daewoo cars history as GM Korea switches to Chevrolet

The Korean unit of General Motors plans to remove the badge of “Daewoo” from its company name and new domestic releases as it seeks to improve image and boost sales. GM Daewoo Auto and Technology Co. announced Thursday it will change its name to GM Korea Company and replace the GM Daewoo brand with the Chevrolet brand.“The actions we are about to take will take the company to a stronger, sustainab

IndustryJan. 20, 2011

Daewoo cars history as GM Korea switches to Chevrolet