The Korea Herald

Seoul shares gain 0.92 pct on eased Greek woes

Korean stocks ended 0.92 percent higher on Monday as investor sentiment was underpinned by eased woes over Greece’s debt crisis and better-than-expected U.S. data, analysts said. The local currency hit a near three-year high against the U.S. dollar.The benchmark KOSPI advanced 19.56 points to 2,145.30. Trading volume was moderate at 288.5 million shares worth 6.68 trillion won ($6.3 billion) with

July 4, 2011

FTA to boost European cars’ Korean market share

The Korea-EU free trade pact is expected to spark price competition among European carmakers operating in Korea, which will likely boost their popularity with local consumers.Last month, most German automakers here lowered prices by 1 to 2 percent in expectation of a lower tariff on their imports with the Korea-EU FTA. Korea currently levies an 8 percent tariff on European cars but the trade pact

Industry July 4, 2011

FTA to boost European cars’ Korean market share

Korea-EU FTA opens new era for car industry

Auto parts makers likely to directly benefit from free trade pactKorean carmakers and auto parts makers are expected to be the main beneficiaries of the nation’s free trade agreement with the European Union, which took effect on July 1.Hyundai Motor and its affiliate Kia Motors operate a plant with an annual production capacity of 300,000 units within the EU, whose output is mostly sold around the

Industry July 4, 2011

Korea-EU FTA opens new era for car industry

Korea-EU FTA opens new doors to economic and cultural exchange

Lee Kyung-taePresident of Institute for International Trade, Korea International Trade Association2011 is a landmark year for trading companies in Korea. This is because Korea is expected to become the ninth country in the world to achieve one trillion dollars in trade volume this year. Amid the shortage of resources and technology, this accomplishment was made possible by Korea’s driven work forc

July 3, 2011

Korea-EU FTA opens new doors to economic and cultural exchange

KEPCO eyes spot among world’s top five power firms

Celebrating 50 years in business, company hopes to nearly triple annual sales by 2020Korea Electric Power Corp. is hoping to more than double its annual revenue as it drives for a spot among the world’s five largest energy companies.The company, which has its 50th anniversary on Friday, is aiming for annual sales of 85 trillion won ($79 billion), of which 26 trillion won will be raised from overse

June 30, 2011

KEPCO eyes spot among world’s top five power firms

Watchdog mulling further lowering bank loan-to-deposit ratio to 90%

Korea’s financial watchdog said Thursday it may require local banks to lower their loan-to-deposit ratio to the 90 percent range in a bid to stem excessive growth of household debt.Lowering the loan-to-deposit ratio, a gauge of a bank’s solvency, was one of a set of measures to curb snowballing household debt unveiled on Wednesday. Household debt, which surpassed 800 trillion won ($747.3 billion)

June 30, 2011

Industrial output grows 8.3%

Korea’s industrial output kept growing for the 23rd straight month in May, raising hopes the nation’s economic recovery is gaining momentum, a government report showed Thursday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 8.3 percent last month from a year earlier, quickening from 6.9 percent growth in April.On-year production has expa

June 30, 2011

FTA: EU and Korea trade and investment moves into top gear

EU Ambassador Tomasz Kozlowski speaks during a news conference on Thursday. (Yonhap News)On July 1 a historic Free Trade Agreement will come into effect between two important actors on the world trade scene: the EU and Korea. The EU-Korea FTA is a landmark agreement. It is the most ambitious ever FTA negotiated by the EU with a partner outside Europe and the first FTA with a country in Asia. The E

June 30, 2011

FTA: EU and Korea trade and investment moves into top gear

Yeosu-Fukuoka sea route opened for World Expo 2012

The state-run Korea Tourism Organization said Wednesday that it has secured a sea route linking the southern port city of Yeosu to Fukuoka, southwestern Japan, in preparation of next year’s Yeosu World Expo.The organization, together with the South Jeolla provincial government and the Yeosu city government, has arranged for a chartered ferry service by Japan’s Kyushu Railway Co. (JR Kyushu) over t

June 29, 2011

Seoul worried by financial sector’s short-term debt

Korea held an emergency meeting with major banks Wednesday to express its concern over growing short-term debt held by financial institutions here, the Finance Ministry said.The meeting was held earlier in the day at the government’s complex building in Gwacheon, south of Seoul, with officials of nine banks, including three foreign institutions, in attendance, according to the Ministry of Strategy

June 29, 2011

Full employment of most precious resources

The most valuable economic resources are human resources, and Korea needs to improve its use of its most precious assets. A survey released last week reported that the average worker in Korea retires in his or her mid-50s. This is much earlier than their Western European OECD counterparts, who usually retire at 65 or older, and for whom even early retirement is usually 60 or older.The survey resul

June 28, 2011

Full employment of most precious resources

Current account surplus hits 7-month high

Korea’s current account surplus rose to the highest level in seven months in May on solid exports and decreased dividend payments to foreign investors, the central bank said Tuesday.The current account surplus reached $2.26 billion in May, up from a revised $1.28 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The May su

June 28, 2011

Current account surplus hits 7-month high

Brand power key to survival in era of crisis

One night in 2003, Harvard undergrad and computer programming genius Mark Zuckerberg sits down at his computer and heatedly begins working on a new idea. In a fury of blogging and programming, what begins in his dorm room soon becomes a global social network and a revolution in communication. A mere six years and 500 million friends later, Mark Zuckerberg is the youngest billionaire in history ...

Special Reports June 28, 2011

Prudential Life of Korea seeks to become ‘trusted insurer’

Prudential of Korea is striving to become the most trusted insurance company.Other companies might want to become the largest or most profitable, but Prudential takes pride in becoming an honest and ethical company that is trusted by many. The headquarters of Prudential Life Insurance in SeoulFounded in 1991, POK set itself apart from other insurance companies by introducing a different type of sa

Special Reports June 28, 2011

Prudential Life of Korea seeks to become ‘trusted insurer’

World-best airline, Singapore Airlines

A Singapore Airlines suite (Singapore Airlines)Singapore Airlines has developed a reputation for being an industry trendsetter by providing premium facilities and services to ensure that customers have unforgettable memories regardless of travel time. Singapore Airlines has received the most industry awards of any airline due to its commitment and innovations. It has world-acclaimed chefs on its “

Special Reports June 28, 2011

Articles by 신용배