The Korea Herald

Bonds lure investors seeking safer assets

As the twin crises in the U.S. and Europe send global equity markets plunging, investors are seeking safer destinations, particularly bonds, in South Korea.The Bank of Korea said in a report on Tuesday that the yield on three-year Treasury bonds saw a drop of 30 basis points between Aug. 2-8 as inve

Aug. 9, 2011

U.S. rating downgrade clouds Korean economy

Stocks plunge; stronger won against U.S. dollar feared to hurt exportersFears of potential fallout from the U.S. credit downgrade quickly materialized in a Korean stock freefall on Monday. The drop reflected the panicky sentiment among local investors amid growing concerns about the overall Korean e

Aug. 8, 2011

U.S. rating downgrade clouds Korean economy

ESTsoft’s involvement with hacker attack sparks dispute

A massive hacking incident that hammered SK Communications, which runs popular social network site Cyworld and the third-ranked portal Nate.com, is now exposing additional security loopholes at other IT companies. Police said the ESTsoft server might have been used by a hacker who stole the personal

Technology Aug. 7, 2011

Gloomy outlook gripping investors, policymakers

Fears of a new financial crisis stoked by last week’s market turmoilFor South Korea, where memories of two major financial upheavals in the late 1990s and 2008 are fresh, the dramatic nosedive of the Seoul bourse on Friday raised investor fears of a third financial crisis.The pattern was eerily fami

Aug. 7, 2011

Gloomy outlook gripping investors, policymakers

Samsung widens gap with Toshiba in NAND flash

Samsung Electronics Co., the world’s top memory chipmaker, increased its NAND flash market dominance in the second quarter, widening its gap with the runner-up Toshiba Corp., industry data showed Wednesday. But prices of NAND flash memory chips, which are used to store data in portable devices such

Industry Aug. 3, 2011

Watchdog requests W500b for savings banks’ overhaul

South Korea’s financial watchdog said on Wednesday it has requested the government to inject 500 billion won ($473 million) in a special fund aimed at overhauling the country’s ailing savings bank sector.Local savings banks have been suffering from a deterioration of asset quality due to a pile-up o

Aug. 3, 2011

Most listed firms ignore social responsibility

The majority of South Korea’s listed companies are not fulfilling their social responsibilities and that can put a crimp in their sustainable growth in the future, a report said Wednesday.The report based on a study of 668 listed companies showed 575 firms, or 86 percent of the total, scored “weak”

Industry Aug. 3, 2011

Most listed firms ignore social responsibility

Apple fined for illegal collection of location data in S. Korea

South Korea‘s telecom regulator said Wednesday that it decided to slap a fine on Apple Inc. for illegally collecting iPhone users’ location data.Apple violated the country‘s location information laws and was ordered to pay a 3 million won ($2,829) fine, the Korea Communications Commission said in a

Technology Aug. 3, 2011

BOK buys gold for first time in 13 years

Foreign reserves rise to record-high $311 billion in JulyThe Bank of Korea said Tuesday it bought 25 tons of gold in the June-July period ― its first purchase since the 1997-98 financial crisis.The purchase touched off speculations about its motives at a time when gold prices are hitting record high

Aug. 2, 2011

BOK buys gold for first time in 13 years

Social commerce company in U.S. buys Korea’s Ticket Monster

LivingSocial, the No. 2 social commerce provider in the U.S. after Groupon, has acquired South Korea’s biggest player Ticket Monster (TMon), underscoring the popularity of discount deals through social network services amid the dearth of mergers and acquisitions in other sectors. TMon said on Tuesda

Aug. 2, 2011

Foreign bank units see profits fall

Branches’ combined income slides 43 percent year-on-yearForeign bank branches in South Korea saw their earnings plunge in the first half of this year, hurt by losses linked to the sharp rise in the value of the Korean won and interest rate fluctuations, the country’s top financial regulator said Tue

Aug. 2, 2011

Consumer prices jump 4.7% in July amid inflation concerns

South Korea’s consumer prices jumped 4.7 percent in July from a year earlier, staying above the government’s target inflation rate of 4 percent for the seventh month in a row amid growing worries over its impact on the overall economy.The year-on-year figure in July marked a bigger jump than the 4.4

Aug. 1, 2011

Consumer prices jump 4.7% in July amid inflation concerns

Daewoo Securities launches English stock trade program

Daewoo Securities said on Monday it has launched an English-language online home trading system targeting foreign investors interested in the Korean stock market.The new trading software named “Qway ENG” allows foreign investors to handle trades of Korean stocks, KOSPI200 futures and options, aided

Aug. 1, 2011

IBK seeks to boost assets by 64 percent by 2015

In the long-term, the bank said it would solidify its market position as a comprehensive financial services provider.The state-run Industrial Bank of Korea said Monday it aims to boost its assets to 300 trillion won ($285 billion) and secure as many as 1 million corporate clients by 2015.IBK said th

Aug. 1, 2011

IBK seeks to boost assets by 64 percent by 2015

N. Korea-U.S. talks 'positive,' says S. Korean official

The recent talks between North Korea and the U.S. in New York may not immediately resolve their differences but represent a positive "first step" toward more discussions, a South Korean official said Sunday. The official said the meeting between North Korean Vice Foreign Minister Kim Kye-gwan and Stephen Bosworth, the U.S. special representative for North Korea policy, was "an extension" of an

North Korea July 31, 2011

Articles by Yang Sung-jin