The Korea Herald

iTunes great for Apple, but was it for music biz?

MusicOct 9, 2011

NEW YORK (AP) ― When Apple rolled out iTunes for the masses in the spring of 2003, the music industry was at a point of transition ― and chaos.Entering the new millennium, albums were enjoying blockbuster sales of several million units for its superstar artists, and profits were booming. Yet the thr
Samsung and LG family names illegally used in overseas fraud

PodcastOct 9, 2011

Small, independent firm LKH Investment Group was discovered using the names of business tycoons Lee Kun-hee and Koo Ja-hak without permission in an apparent financial scam. Lee is chairman of Samsung Electronics, international tech giant, and Koo is the third son of the LG Group founder and ma
Consumer borrowing dropped $9.5 billion in August

Oct 9, 2011

WASHINGTON (AP) -- Consumers slashed their borrowing in August by the most in 16 months. The drop suggests many worried about taking on new debt while the economy slumped and the stock market fluctuated wildly.Fewer people used their credit cards. And a measure of demand for auto and student loans f
Wholesale stockpiles grew 0.4 percent in August

Oct 9, 2011

WASHINGTON (AP) -- Wholesale businesses increased their stockpiles of autos, computer equipment and heavy machinery in August, boosting inventories for a 20th straight month as their sales rose at the fastest pace in five months.The combination of rising sales and inventories should be a good sign f
Disney CEO Iger renewed through March 2015

Oct 9, 2011

LOS ANGELES (AP) -- Disney CEO Robert Iger will remain in his job through March 2015 and then serve as executive chairman for another 15 months to help break in a new chief executive, the company said Friday.The definite end to what will be a decade-long tenure suggests the eventual promotion of one
Only 20 N.K. defectors work in officialdom: lawmaker

Social affairsOct 9, 2011

Only 20 North Korean defectors work as public servants in South Korea, an opposition lawmaker said Sunday, the latest sign that North Koreans are struggling to join mainstream South Korean society.The figure represents just a small fraction of the more than 22,000 North Korean defectors in South Kor
Asia-Pacific human rights chiefs to gather in Seoul

Social affairsOct 9, 2011

Some 200 representatives from human rights organizations in the Asia-Pacific region will gather in Seoul this week for a conference regarding business and human rights, officials in Seoul said on Sunday. Organized by the National Human Rights Commission of Korea and its larger Asia-Pacific counterpa
Jackson children make tribute concert a success

MusicOct 9, 2011

CARDIFF, United Kingdom (AFP) ― Michael Jackson’s three children helped 40,000 fans honor the late pop legend Saturday as the “Michael Forever” show in Wales overcame a troubled build up to end on a high note.There had been doubts over whether the tribute show would go ahead after months of controve
Sotheby’s sales fetch $411m in Hong Kong

TheaterOct 9, 2011

HONG KONG (AFP) ―Sotheby’s said Friday it had sold more than $410 million in luxury goods, wine, art and antiques in its autumn sale in Hong Kong, with wealthy Chinese collectors driving much of the bidding. The October 1-6 autumn sale saw more than 3,000 lots sold for more than HK$3.2 billion (US$4
Jiang appears in public after speculation

World NewsOct 9, 2011

BEIJING (AP) ― Former Chinese President Jiang Zemin made a rare public appearance at a Beijing ceremony on Sunday, months after speculation that he had died or was close to death.The 85-year-old Jiang took his seat onstage with other former and current top Chinese leaders at the Great Hall of the Pe
Book fair to tackle challenges of digital age storytelling

BooksOct 9, 2011

BERLIN (AFP) ― Authors once just had to deal with a publisher but are now being forced to embrace the digital age and negotiate the rights to their works for TV, films and ebooks.Organizers of the Frankfurt Book Fair, which opens on Wednesday, said the challenges thrown up by the upheaval in the boo
Private funeral held for Jobs

World BusinessOct 9, 2011

SAN FRANCISCO (AP) ― The Wall Street Journal is reporting that the funeral for Apple co-founder Steve Jobs is being held Friday.The newspaper cited an unnamed person familiar with the matter. The person described the ceremony as a small private gathering. The person would not say where or when Frida
Merkel spells out how to bolster European banks

Oct 9, 2011

German Chancellor Merkel spells out how to bolster European banks amid the bloc’s debt crisis BERLIN (AP) -- German Chancellor Angela Merkel said Europe’s banks should look first to raise money in the private sector before turning to governments to bolster their financial cushions against potential
H.K. student’s Apple tribute is Internet hit

World BusinessOct 9, 2011

HONG KONG (AFP) ― A Hong Kong design student said Friday he was overwhelmed and felt “unreal” after his somber logo in tribute to Apple founder Steve Jobs caused a worldwide Internet sensation.The design, featuring Jobs’ silhouette incorporated into the bite of a white Apple logo on a black backgrou
New hope for end to Hanjin dispute

Social affairsOct 9, 2011

Management and labor union to meet Monday to discuss proposalAttention is being drawn to whether management of Hanjin Heavy Industries and Construction Co. and its union can iron out an agreement ending their yearlong labor dispute after its chief on Friday accepted a parliamentary mediation proposa