The Korea Herald

Samsung wins award for 3-D TV

IndustryMay 19, 2011

Samsung Electronics has received the Best in Show award for its 70-inch “Ultra Definition” 3-D technology at this year’s Display Week 2011, the company said on Thursday. The Society for Display, a leading global organization dedicated to electronic display technology and organizer of the event, announced the selection of Samsung Electronics at Display Week, which is being held in Los Angeles this
POSCO Power completes first hydrogen fuel cell stack

IndustryMay 19, 2011

The country’s first hydrogen fuel cell stack developed with local technology was completed, POSCO Power announced Thursday.Affiliate of the steelmaker POSCO, POSCO Power is the country’s largest private power generating firm.POSCO Power’s fuel cell stack has a generating capacity of 1.4 megawatts, which according to the company is sufficient to supply 1,600 households. POSCO Power employees work
Pantech SKY unveils high-speed Vega Racer

IndustryMay 19, 2011

Pantech SKY unveiled the world’s first Android-powered smartphone equipped with Qualcomm’s speedy 1.5 gigahertz dual core processor called Vega Racer on Thursday.The company said that its new smartphone with a 4.3-inch display screen would be available in four different colors and serviced by the country’s three telecom suppliers ― SK Telecom, KT Corp. and LG Uplus.“We attempted to upgrade the dua
[News Focus] Mixed fate for Hynix, Korea Express

IndustryMay 19, 2011

Two heavyweight firms up for grabs on local M&A marketThe company boasts a healthy financial report card, and has long-term expertise in logistics as one of the nation’s first logistics firms ― it was established in 1930. No one for Hynix Hynix, due to its heavy dependence on research and technology, is considered a business that is not as lucrative as expected because of the capital it is forced
“Short sets” gig to fund Speakeasy mag

Expat LivingMay 19, 2011

“Short Sets,” a night of music featuring DJs, expat hip-hop and reggae artists and Korean rock bands, will take place Saturday to fundraise for the next issue of the bilingual culture magazine, Speakeasy.Acts including Hit the 9, Da Green and JoshRoy will play 30 minute sets at Club DGBD in Hongdae, Seoul.Doors are at 10 p.m. and the cover is 10,000 won, with all proceeds going toward publishing o
Overseas investment fair kicks off

IndustryMay 19, 2011

The Korea Overseas Investment Fair 2011 kicked off Thursday in Seoul to provide Korean companies with comprehensive information on foreign investment, according to the Korea Trade-Investment Promotion Agency, its organizer. In the two-day event at COEX in southern Seoul, officials from 29 countries in Europe, Asia, Africa, the Middle East and Latin America had one-on-one meetings and discussed bus
LS Cable and System develops power cable for airplanes

IndustryMay 19, 2011

LS Cable and System, the country’s largest producer of cables and wires, announced Thursday that it has developed a cable for supplying power to airplanes, a first time for Korea. The cable was supplied to Incheon International Airport Corp. According to the company, the new cable is capable of carrying electrical currents of up to 400 hertz frequency, making the new product compatible with electr
NHN posts solid figures in Q1

IndustryMay 19, 2011

NHN Corp., an Internet content service operator, announced Thursday it recorded 517.3 billion won ($4.76 million) in operating revenue and 168.5 billion won in operating profit for the first quarter, both figures profiting from an increase in search advertisements.The company, well-known for its search engine Naver and online game site Hangame, said its operating revenue and operating profit surge
Banks ordered to cut down forward trading

May 19, 2011

The financial authorities will soon instruct banks to slash their forward trading, as part of government measures to crack down currency speculation by regulating foreign exchange positions.The Ministry of Strategy and Finance and the Bank of Korea said on Thursday that they have decided to order banks dealing with foreign currency trading to reduce the ceiling of forward trading by about 20 perce
Hana-KEB deal delay weakens both: Moody’s

May 19, 2011

Analyst says extended FSC deadlock especially damaging for KEBThe financial regulator’s delay in approving Hana Financial Group’s bid of Korea Exchange Bank is credit negative for both lenders but especially for the lender long been put up for sale, credit rating agency Moody’s said Thursday. “We gave an A2 to KEB because one, their performance was good and two, we expected it to be sold over to H
[Herald Interview] ‘Tighter rules needed before Woori sale’

May 19, 2011

Bancorp CEO says new rules would be desirable for megabanks in KoreaBetsy Cohen, founder and CEO of U.S. internet retail bank Bancorp Inc., said tightening capital and liquidity rules should come before the creation of the megabank due to be formed by the privatization of Woori Financial Holdings.“Size is not protected easily. Activities of large institutions carry a great deal of risk for a wider
[Herald Interview] ‘Electronic traveler’s checks gaining popularity’

May 19, 2011

An electronic version of the traveler’s check, which has gained popularity among Western travelers for its convenience and security, is also drawing interest in Korea.“In the past, we prepared traveler’s checks when going on a trip, but these days we need to hold a traveler’s card instead of traveler’s checks,” said Richard Kim, country manager of Card Services Korea. Card Services Korea country m
U.S. considers tighter credit as economy improves

World BusinessMay 19, 2011

Fed minutes reveal debate in April how to tighten credit if inflation persistsWASHINGTON (AP) ― The Federal Reserve said last month that the economy is gradually improving and began discussing how it would reverse policies adopted during the recession that pumped billions of dollars into the economy.Some members said the Fed might need to start boosting interest rates this year to guard against in
North Korean defector gets U.K. scholarship

PeopleMay 19, 2011

A North Korean defector is to pursue studies to help his home country’s economic development with a scholarship in Britain this fall. Oh Se-hyuk, 34, is the first defector to be granted the U.K. government’s Chevening Scholarship, which he received on April 17.“I am planning to study development models for underdeveloped countries and will pursue study for unification, especially development of No
Korea’s Stephen Hawking wins W3.8b in suit

PeopleMay 19, 2011

Lee Sang-mook, a professor at Seoul National University, has won 3.8 billion won ($3.47 million) in compensation from Ford for the 2006 car accident that left him paralyzed.Lee and a group of students were on a geological research trip to Death Valley, California, when his Ford overturned and the roof collapsed. The accident killed one of his students and left Lee paralyzed. Lee Sang-mook, profes