The Korea Herald

MSCI keeps Korea’s emerging market status

Jun 22, 2011

Global investment index provider MSCI Inc. retained Korea’s emerging market status on its global equities index, citing problems stemming from its market rigidity and lack of accessibility.The move represents another setback for Korea. MSCI left Korea’s status unchanged in 2009 and 2010 due to the “rigidity” of its investor identification system and lack of an active offshore market for the Korean
K-sure named best Asian export creditor

IndustryJun 22, 2011

The Korea Trade Insurance Corporation, known as K-sure, said Tuesday it has been selected as the best Asian export credit agency by the U.K.-based Trade Finance Magazine.K-sure is one of the country’s two export-import insurance agencies other than the Export-Import Bank. It provides insurance products and project financing and issue bonds to exporters for their shipment, overseas construction wor
KCC keeps SKT, KT off 2.1 GHz broadband range

Jun 22, 2011

The Korea Communications Commission agreed to exclude two mobile carriers SK Telecom and KT Corp. from a new wireless broadband spectrum auction, giving the upper hand to LG Uplus on Wednesday.Five commissioners of the state media and telecom regulating body said SKT and KT will be blocked from taking part in the 2.1 gigahertz radio spectrum auction, slated for early August.“We decided to go with
Household debt burden grows

Jun 22, 2011

Ratio of household credit to GNDI rising: BOKHouseholds’ ability to pay their debts was critically weak during the first quarter as the pace of debt growth surpassed that of income growth.According to the Bank of Korea, the nation’s household credit, including loans and credit purchasing, reached 801.4 trillion won ($750 billion) at the end of March, up 8.4 percent from a year earlier.Central bank
CEO pizzas charm 1,000 LGE employees

IndustryJun 22, 2011

LG Electronics Vice Chairman and CEO Koo Bon-joon has sent out “CEO pizzas” to up to 1,000 employees to help boost morale, the Seoul-based electronics maker said on Wednesday.The latest batch of pizzas, sent out by Koo to express his affection for the LGE staff, were delivered on Tuesday to LG Electronics’ Air-conditioning and Energy Solution division’s “Chiller” team’s production and R&D units in
Conglomerates set up more units in offshore tax havens

IndustryJun 22, 2011

The country’s top 30 conglomerates were found to have set up a spiraling number of overseas corporations in countries without tax treaties with the South Korean government. Lotte Group had the largest number of corporations in such nations overall, according to Chaebul.com, an online portal devoted to analyzing conglomerate activities on Wednesday.As of last year, the conglomerate had 33 such offi
Vertical integration key strategy for conglomerates

IndustryJun 22, 2011

Samsung, Hyundai Motor, SK, STX reap fruits from multi-layered business structureAmid robust industrialization a few decades ago, Korea’s major companies were striving to adopt a multi-layer business practice called vertical integration. They are now transforming into global industry leaders, bearing the fruit of these efforts. The unique concept of management dates back to the 19th century when A
Nokia unveils mobile phones in Asia to stem Google, Apple advance

IndustryJun 22, 2011

Nokia Oyj unveiled mobile phones at both ends of its range to fend off competition from cheap unbranded handsets and smartphones powered by Google Inc.’s Android. The C2-03 model will target consumers in emerging markets by making it easier to switch between different phone numbers, Mary McDowell, the executive vice president who runs low-end phones, said in Singapore Tuesday. Nokia also showed th
Michael Jackson art auctioned for orphans

Jun 22, 2011

A Michael Jackson tribute night is to raise money for a Korean orphanage for disabled kids. A painting of the legend often hailed the King of Pop will be auctioned to raise cash for Angel House’s 50 disabled residents at the 3rd Annual MJ Tribute at Club Genie in Seoul’s Itaewon district. Michael Jackson T-shirts will also be sold to raise funds at the event to run from 10:30 p.m. this Friday, whi
Group to host healthy-living event

Jun 22, 2011

The event will give people the chance to eat Korean ssam and learn easy physical exercises to get healthy ahead of the upcoming hottest summer season.Ssam is a Korean dish where rice and condiments are wrapped in lettuce, cabbage, sesame leaves, or other greens. The greens are organically grown by members of Environment Justice. The non-profit organization is holding the event on Monday, July 4 in
Autistic kids are artists for drawing contest

Jun 22, 2011

People look at winning pictures from the Europe-Korea Foundation’s Autistic Children’s Drawing Contest in Seoul. (EFK)A drawing contest and art exhibition for autistic children has been held in Seoul. The event was organized by The Europe-Korea Foundation, the charity arm of the European Union Chamber of Commerce in Korea. The event was held on Saturday at Ssamzie-gil in Insa-dong to raise awarene
Charity Volleyball Festival in Ulsan

Jun 22, 2011

A one-day Beach Volleyball festival is to be held in Korea on July 30. The event aiming to attract 100 teams from across Korea is to be held at Ilsan Beach in Ulsan’s Bangojin area. The event organized by T-hope Korea and Ulsan International Volunteer Center aims to raise cash for various charities.The group Teachers Helping Other People Everywhere is a volunteer charity events organization. Entry
Sharing by shopping project launched at N Seoul Tower

Jun 22, 2011

Shoppers have been given a new way to give to charity while buying some of their favorite brands. Seven companies have joined forces to promote the giving “N Mark” brand. Companies SBS, CJ N City (N Seoul Tower), Korea Smart Card, Lotte Tourism, Yoon’s English, WithPharm and Yegadeun have all pledged to give a percentage of the sale price of items bearing the mark to charity. The Ministry of Healt
Ringing changes for Korean bell gifted to U.S.

Jun 22, 2011

Korean culture lovers in America are campaigning to restore a traditional bell to its former glory. The Korean Friendship Bell has been a much-loved local landmark since being presented to the district of San Pedro in Los Angeles, California 35 years ago as a bicentennial gift to the United States. But now people in the port district of the city fear the bell is falling into disrepair. The 17-ton
Charity leaders help Korea give more

Jun 22, 2011

Country needs robust sharing culture to tackle growing welfare needsCharity leaders from here and the U.S. have called for a more structured, transparent and incentive-driven charity sector for Korea. Experts from America joined Korean social welfare leaders to call for a rethinking of the country’s philanthropic culture at the 1st International Conference on Sharing held in Seoul last week.Brian