The Korea Herald

AOL steps up news, ad push with Huffington Post

SAN FRANCISCO (AP) ―AOL Inc.’s $315 million deal to buy news hub Huffington Post signals that it is serious about building its profile as a media company as its legacy dial-up Internet business dies away.The acquisition announced Monday is AOL CEO Tim Armstrong’s most aggressive play so far as he tries to reshape a fallen Internet icon and boost efforts in news and online advertising. It is the la

Technology Feb. 8, 2011

AOL steps up news, ad push with Huffington Post

KT to buy 20% of BC Card to expand mobile services

KT Corp., Korea’s largest phone and Internet company, agreed to buy a 20 percent stake in BC Card Co. from Woori Bank to expand into mobile-payment services.Woori will have the option of buying back a portion of the stake if KT begins its own credit-card business, Lee In Won, a spokesman for the Seongnam, Korea-based phone carrier, said Tuesday. The deal is subject to further internal approval, he

Feb. 8, 2011

Public service rates up despite anti-inflation efforts

Prices of public services in Korea grew at the fastest pace in more than four years in January, adding to burdens in the daily lives of low- and mid-income people, data showed Monday.According to the data offered by the finance ministry and the statistics agency, the average prices of the nation’s 32 major public services, including heating gas and tap water, rose 0.9 percent last month from Decem

Feb. 7, 2011

Public service rates up despite anti-inflation efforts

Stock market cap returns to $1tr level

Korea’s stock market capitalization returned to the $1 trillion level for the first time in three years in 2010 as an economic recovery and corporate profit gains led to strong rallies, the bourse operator said Monday.The country’s total market cap of its main board and the tech-heavy junior market reached $1.92 trillion at the end of 2010, up 30.8 percent from a year earlier, the Korea Exchange s

Feb. 7, 2011

Korea’s foreign reserves hit new high in January

Korea’s foreign exchange reserves rose to a fresh high in January as a soft U.S. dollar bolstered the conversion value of assets in other currencies, the central bank said Monday.The country’s foreign reserves reached $295.96 billion as of the end of January, up $4.39 billion from the previous month, according to the Bank of Korea.The reserves rose for the second straight month in January, surpass

Feb. 7, 2011

Korea’s foreign reserves hit new high in January

Regular workers hit record high in 2010

The number of regular workers in Korea reached an all-time high last year as businesses increased their number of longer-term workers amid rebounding economic conditions, data showed Monday.The number of workers who remained employed for a year or longer totaled 10.09 million last year, the highest since related statistics started to be compiled in 1989, according to the data provided by the finan

Feb. 7, 2011

Seoul shares up on economic optimism

Korean stocks finished 0.47 percent higher on Monday, led by financial companies, as upbeat U.S. data boosted investor sentiment amid subdued trading after a national holiday, analysts said. The local currency climbed against the U.S. dollar. After rising more than 1.7 percent at one point, the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,081.74, up 9.71 points from the previous

Feb. 7, 2011

Businesses oppose early adoption of carbon trading

Korea’s major economic organizations called on the government Monday to significantly postpone its plan to introduce a carbon emissions trading system in 2012, saying it could hurt the country’s industrial competitiveness.The five economic organizations, including the Federation of Korean Industries, the largest industry lobby in the country, urged the government to delay the move at least until 2

Industry Feb. 7, 2011

Korean venture to buy U.S. hallyu site operator

Korea’s video search technology provider, Enswers Inc., said Monday that it has agreed to acquire a Silicon Valley-based online company, Soompi Media LLC, to create a U.S.-based Web portal for Korean pop culture and news.Under the agreement, Enswers will introduce this month a revamped service of Soompi.com powered by its own video search technology in a bid to bring Korean dramas, music, movies a

Industry Feb. 7, 2011

Kia Motors posts record monthly sales in China

HONG KONG (Yonhap News) ― Kia Motors Corp., Korea’s second-largest automaker, posted record-high monthly sales in China last month, backed by strong demand for its sport utility vehicle, company officials said on Sunday.In January, Kia Motors sold 38,858 units of vehicles in the world’s most populous country, up 22.7 percent from a month earlier and also 13.7 percent from the same period last year

Industry Feb. 7, 2011

LGD eyes Poland joint venture

LG Display Co., the world’s second-largest maker of liquid-crystal displays, said it’s in talks with TPV Technology Ltd. to form a venture in Poland to manufacture LCD modules and televisions.The venture will help reduce production costs by making TV parts and sets in one factory, Claire Ohm, a Seoul-based spokeswoman for LG Display, said in a telephone interview Monday. LG has similar operations

Industry Feb. 7, 2011

Samsung, LG face off in smart appliances

Korea’s two largest electronics makers are vying to get an upper hand in the fast growing market for smart home appliances.Samsung Electronics and LG Electronics recently rolled out refrigerators, washers and air conditioners featuring improved technology in artificial intelligence, wireless access and efficient electricity control.Samsung Electronics’ home appliances division head Hong Chang-wan

Technology Feb. 6, 2011

Samsung, LG face off in smart appliances

Seoul to host whisky festival

An event to help turn South Korea into a nation of whisky-lovers is to be held this month. The Whisky Live international road show will come to Korea for the first time on Feb. 27. More than 2,000 people are expected to attend the event boasting more than 100 products from over 40 whisky brands. Attractions will include samplings, whisky master classes, VIP sessions, bartender awards, as well as m

Industry Feb. 6, 2011

Whatever It Takes; a hip way to do good

Donna Karan, George Clooney and Greenday ― although they’re all big American stars, the three belong to distinctively different genres. But it turns out the trio have something else in common ― they are among the 660 world-famous celebrities who have donated smartphone and tablet PC cover designs to raise money for people living in underprivileged countries. Part of the proceeds from the covers ―

Industry Feb. 6, 2011

Banks‘ 2010 earnings jump 35.6%

Korean banks saw their earnings surge 35.6 percent last year from a year earlier thanks to increased interest income and profits from sales of stock holdings, the financial regulator said Tuesday.Net income by 18 local banks, including top lender Kookmin Bank and Woori Bank, came to 9.4 trillion won ($8.4 billion) in 2010, compared with 6.9 trillion won in 2009, according to a report by the Financ

Feb. 1, 2011

Articles by 황장진