The Korea Herald

Seoul may cancel Global Hawk purchase

DefenseSept 26, 2011

U.S. surveillance planes cost almost five times the amount first budgeted forSouth Korea is seriously considering halting its plan to purchase Global Hawk surveillance planes as their price has more than doubled, a local daily reported Monday.Seoul has sought to deploy four of the high-altitude unma
Readers’ VOICE

Sept 26, 2011

On naming suspects ...Trial by press is unacceptable for people who are just suspects. It could be argued that the West is wrong, as we have a duty to protect the identities of people ― there is a right to privacy in many countries, even if only in common law.As well, it is a moral problem; we could
Should criminal suspects be named?

Sept 26, 2011

With many of those arrested remaining anonymous ...Should criminal suspects be named?A balance of rightsUnlike in jurisdictions such as the U.S., South Korean law and media convention in many cases protect the identities of criminal suspects. In accordance with the criminal code and Korean National
Hyundai-Kia, GM vie for No. 2 in China

TransportSept 26, 2011

Hyundai Motor and its affiliate Kia Motors have been successful in expanding their market share in China, taking 9.7 percent of the market between January and August.The companies, ranked third in the Chinese market, have the short-term goal of overtaking General Motors which posted an 11.2 percent
Samsung introduces two 4G smartphones in Korean market

IndustrySept 26, 2011

Samsung Electronics Co., the world’s second-largest mobile-phone maker, released two new smartphones here on Monday as global mobile operators move to faster fourth-generation networks. Samsung is confident that sales of the two new Galaxy handsets compatible with long-term evolution technology will
More Korean companies incapable of repaying debt

Sept 26, 2011

BOK data shows 3 out of 10 Korean firms failed to cover their debts in Q2Three out of every 10 Korean firms listed on the stock market failed to service their debt in the second quarter of this year, Bank of Korea data showed Monday. A total of 30.2 percent out of 1,491 firms said their average inte
Korea's foreign reserves 'enough' to cope with crisis: official

Sept 26, 2011

South Korea holds a sufficient amount of foreign exchange reserves to cope with any crisis, a senior finance ministry official said Monday, dismissing worries that the nation's financial system is vulnerable to foreign capital flight. Media reports speculated earlier that the nation's foreign r
Effective corporate tax rate falls in 2010

Sept 26, 2011

South Korea’s effective corporate tax rate fell more than 3 percentage points in 2010 from a year earlier as the government pushes to lower tax burdens on businesses, data showed Monday.According to the data by the finance ministry and Statistics Korea, the country’s effective corporate tax rate sto
Asiana resumes flights to Sendai

IndustrySept 26, 2011

Asiana Airlines reopened the route to Japan’s Sendai Airport on Sunday.The route was suspended in March after Japan was hit by a series of natural disasters. The resumed flight will be traveling from Incheon to Sendai Airport three times a week, every Tuesday, Thursday and Friday. The March earthqua
Osstem Implant fined for illegal rebates

IndustrySept 26, 2011

The Fair Trade Commission said Monday that it has fined three dental equipment makers 127 million won ($106,000) for giving illegal rebates. It is the first time that the state-run antitrust regulator has found illegal marketing practices prevalent in the medical equipment market as well as in the p
Online tax paying system lacks security: lawmaker

IndustrySept 26, 2011

A lawmaker on Monday alleged that HomeTax, the government’s online tax payment system, is exposed to the threat of hacking and lacks adequate security. Currently, about 5.22 million Korean taxpayers, most of them business owners, are using the system due to benefits such as tax cuts. According to Re
Solid bank profits expected in Q3

Sept 26, 2011

KB Financial Group projected to record about 670 billion won in net profits: analystsIt is estimated that four major financial groups and their banking units will secure robust performance during the third quarter, according to analysis by local securities firms.Securities firms such as Kyobo,
Korea to become ninth in world with $1tr trade

IndustrySept 26, 2011

Trade volume growth sets important precedent for developing nationsSouth Korea’s trade volume reaching $1 trillion is a miracle that has significance not only for Korea but for developing countries, Korea International Trade Association chairman SaKong Il said Monday. With Korea’s trade volume, incl
Chinese target Arctic with Iceland land deal: experts

World BusinessSept 26, 2011

REYKJAVIK (AFP) ― A Chinese businessman’s plans to buy a swathe of Iceland for a resort have sparked local skepticism, amid speculation it is a bid by Beijing to get its hands on Arctic riches.The melting Arctic ice cap means lucrative oil and gas deposits under the seabed could soon become accessib
Boeing delivers first 787 after years of delays

World BusinessSept 26, 2011

Boeing delivers its first 787 jet on Sunday. It's been a long time coming.The new jet, which was supposed to be flying passengers three years ago, has been delayed by production and design problems. But now it's here, and airlines expect it to offer travelers much more comfort, open up new routes an