The Korea Herald

JCS chairman visits overseas S. Korean troops

DefenseApr 28, 2011

Joint Chiefs of Staff chairman Gen. Han Min-koo visited Afghanistan and the United Arab Emirates to encourage three South Korean contingents operating there and off the Somali coast last Saturday through Wednesday, officials said Thursday.On Sunday, the top military commander met with more than 300 soldiers belonging to the “Ashena” unit in Afghanistan and inspected its security conditions. Ashena
Fear dampening Arab criticism of Syria’s Assad

World NewsApr 28, 2011

DUBAI (AFP) ― Gripped by fears of contagion and desperate to maintain the fragile status quo in the region, Arab regimes are choosing to remain silent as deaths mount in a Syrian crackdown on protesters. Analysts say Arab leaders, wary of the uprisings which toppled the veteran rulers of Tunisia and Egypt, are adopting a “better the devil you know” attitude and hope President Bashar al-Assad’s reg
Shuffle adds to U.S. troubles in Afghanistan

World NewsApr 28, 2011
Hyundai Motor, Steel post strong first-quarter figures

IndustryApr 28, 2011

Hyundai Motor Co.’s quarterly sales increased 21.4 percent from a year ago, while that of its affiliate Hyundai Steel rose to record levels.In a regulatory filing, Hyundai Motor revealed that its first quarter sales increased 21.4 percent compared to the same period last year to come in at 18.23 trillion won, while operating profits soared 45.6 percent over the same period to come in at more than
Two top mobile carriers launch Apple’s iPad 2

IndustryApr 28, 2011

Two top mobile carriers SK Telecom and KT Corp. said they will release Apple’s iPad 2 in the local market Friday, according to companies’ officials Thursday.KT, which was the first telecom to service Apple’s iPhone in November 2009, said it will release two different models ― one that operates only on the Wi-Fi network and another which runs on Wi-Fi and 3G networks ― beginning at 10 a.m. at its o
Samsung’s Lee welcomes calls for more shareholding activity of funds

IndustryApr 28, 2011

Samsung Electronics Chairman Lee Kun-hee on Thursday supported a presidential aide’s call for public funds to more actively exercise their rights as shareholders.The business tycoon said he was not only unperturbed by the remarks, but he “welcomes the idea of having shareholders publicly exercise their rights.”Lee was remarking on a speech given Tuesday by Kwak Seung-jun, head of the presidential
2012 budget plan aims to reduce fiscal deficit

Apr 28, 2011

Budget spending focused on investment in new growth enginesThe Ministry of Strategy and Finance on Thursday unveiled its policy to improve the nation’s fiscal soundness next year by slashing unnecessary expenditure.The government is aiming to minimize the 2012 fiscal deficit by curbing the growth of total expenditure, ministry officials said citing its report to the Cabinet meeting held earlier in
Hynix posts solid profit despite fall in prices of chips

IndustryApr 28, 2011

Hynix Semiconductor Inc., the world’s second-largest computer memory chipmaker, announced Thursday it posted 2.79 trillion won in sales and 323 billion won in operating profit for the first quarter, slightly up from the previous quarter largely due to an increase in shipping.The figures indicate that the total sales and operating profit rose 1.5 percent and 9.9 percent, respectively, in the first
Current account surplus hits three-month high in March

Apr 28, 2011

South Korea’s current account surplus rose to the highest level in three months in March as exports of ships and other key products remained robust, the central bank said Thursday.The current account surplus reached $1.43 billion in March, up from a revised $1.13 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The March
Hyundai seals China commercial car venture

IndustryApr 28, 2011

Hyundai Motor Co. finalized the deal with China’s Sichuan Nanjun Automobile Co. to establish a commercial vehicle plant in China on Thursday.The two companies had signed a memorandum of understanding on setting up a joint venture in October.Sichuan Nanjun Automobile Co. is China’s 11th-largest producer of commercial vehicles. The company operates two plants with a combined annual production capaci
3-D firm posts record earnings in Q1

IndustryApr 28, 2011

Red Rover Co., a local 3-D services provider, said Thursday that it has posted record earnings of 2.4 billion won ($2.2 million) in the first quarter, up 298 percent from the same period last year.The firm’s sales reached 9.2 billion won, up 203 percent from the January-March period last year, though it was little lower than that of the year’s fourth quarter, it said. “The record performance was p
Foreign insurers struggle to join mainstream

Apr 28, 2011

Despite their long presence in Korea, global giant life insurers still don’t come close to their major local rivals in terms of size, according to industry sources Friday.Nine foreign life insurers operating in the country hold 68.9 trillion won ($63.7 billion) in assets, or 16.9 percent of the industry’s total. The figure does not even meet half of that held by industry leader Samsung Life Insura
Japan output logs record fall

IndustryApr 28, 2011
Fed says bond program to end soon

World BusinessApr 28, 2011

WASHINGTON (AP) ― The economy and job creation have strengthened enough for the Federal Reserve to end on schedule a program of buying Treasury bonds to help the economy, the Fed said Wednesday.Ending a two-day meeting, the Fed made no changes to the program. The decision was unanimous. The bond purchases were intended to lower loan rates, encouraging spending and boost stock prices. But critics w
BOJ seen holding fire, cutting growth forecast

World BusinessApr 28, 2011