The Korea Herald

New Dodge Viper to lure Porsche, Corvette lovers

TransportJan 16, 2011

Chrysler Group LLC, the U.S. automaker run by Fiat SpA, said the next Dodge Viper sports car is going to be “drop-dead beautiful” so it can take buyers from Porsche SE’s cars and General Motors Co.’s Corvette.The new Viper’s look was inspired by “a naked woman on the beach,” Ralph Gilles, the head of Chrysler’s design, said at an event on Jan. 12 in Detroit. The car will be released next year as a
Korea steps up restructuring of savings banks

IndustryJan 16, 2011

Financial authorities are quickening their moves to restructure savings banks struggling with growing bad debts to prevent their troubles from destabilizing the broader financial system.The state-run Korea Asset Management Corp. said on Saturday it will conduct a sweeping investigation into all construction-related project financing schemes involving domestic savings banks. Sources said the Financ
New Mercedes-Benz S Class hits local market

TransportJan 16, 2011

Mercedes-Benz Korea launched the new S350 BlueTEC on the local market on Wednesday.According to the company, the new vehicle is 6.8 percent more fuel efficient and has 10 percent more power output than the previous version of the car. The vehicle is fitted with a 3-liter, V6 engine and seven-speed automatic transmission. The car’s engine puts out 258 brake horsepower, and can reach 100 kilometers
Mercedes-Benz dealer offers iPads

TransportJan 16, 2011

Hansung Motor, the official Mercedes-Benz dear, is offering gifts including 25 Apple iPad table PCs during January.As part of its 25th anniversary celebrations, the company will provide iPads to 25 randomly selected customers who buy Mercedes-Benz vehicles during the month,In addition, the company will be giving away gifts to all those who visit showrooms and receive consultations during the month
Daihatsu to end vehicle sales in Europe

TransportJan 16, 2011

TOKYO (DPA) ― Japanese carmaker Daihatsu Motor Co. said Friday it had decided to withdraw from Europe from January 2013 due to sluggish sales and a decline in profits. Daihatsu, a subsidiary of Toyota Motor Corp., said it would end the sale of new vehicles in the European market. Worsening profitability was partly responsible as the yen rose against the euro.A stronger yen makes Japanese-made prod
Special lease program with Mini

TransportJan 16, 2011

Mini is offering special lease financing program on all models until the end of the month. Those purchasing Mini vehicles before the end of the month will be offered the choice of using a lease program that allows 40 percent of the vehicle’s price to be paid in installments over 36 months, and return the vehicle at the end of the period. Using the program, the Mini Cooper SE can be financed for 27
Peugeot launches electric bicycles

TransportJan 16, 2011

PARIS (DPA) ― With the launch of its first electric vehicle, the iOn, Peugeot is also offering a collection of three electrically driven bicycles featuring a light aluminum frame and a Panasonic electric engine with a range of between 75 and 95 kilometers. A special comfort feature is a high-quality Selle Royal saddle designed for longer trips and a sturdy luggage rack. In addition the lighting in
Toyota adds cheapest Lexus model

TransportJan 16, 2011

Toyota Motor Corp. introduced its cheapest Lexus yet in Japan as the automaker struggles to replicate the luxury brand’s U.S. success in its home market.The Lexus CT200h went on sale today priced from 3.55 million yen ($43,000), Toyota said in a statement, making it less expensive than the 3.95 million yen HS250h hybrid and 3.98 million yen IS250 sedan. The automaker, the world’s largest, plans to
Banks raising interest rates on loans to households

Jan 16, 2011

Commercial banks are raising interest rates on their loans following the increase of the benchmark rate last week, heightening the financial burden on households and small firms. The Bank of Korea unexpectedly raised the seven-day repurchase rate by 25 basis points on Thursday, as Korea grapples with higher inflation stemming from strong economic growth and rising oil, grain and other commodity pr
Reserve forces to conduct front-line exercises

DefenseJan 16, 2011

Members of the nation’s Reserve Forces will be deployed to front-line areas for the first time during joint South Korea-U.S. military exercises later this year, officials said Sunday.“Two battalions of the Reserve Forces will be deployed close to the border with North Korea while participating in two South Korea-U.S. joint military drills ― the Key Resolve and Foal Eagle exercise in March and the
Looting hits Tunisia as new leader sworn in

InternationalJan 16, 2011

TUNIS, Tunisia (AP) _ Looting, deadly prison riots and street chaos engulfed Tunisia on Saturday, the day after mass protests forced its strongman to flee. A new interim president was sworn in, promising to create a unity government that could include the long-ignored opposition.It was the second change of power in this North African nation in less than 24 hours.Amid the political instability, lo
N.K. draws up a 10-year economic development plan

North KoreaJan 16, 2011

North Korea has drawn up a decade-long development plan and will establish a new government body to implement projects, in a move analysts here said is designed to revive the stalled economy.The North’s state-run Korean Central News Agency said Saturday the North Korean cabinet decided to adopt a “10-Year State Strategy Plan for Economic Development” and to set up a new agency called the State Gen
Korea-ASEAN cyber college to open in July next year

Social affairsJan 16, 2011

South Korea and a group of 10 Southeast Asian nations will hold a high-level workshop to discuss ways to set up a joint cyber college in July of next year, the Education Ministry said Sunday.The sides have pushed for the establishment of the school since the 10-member Association of Southeast Asian Nations made a proposal during a special summit held on the South Korean resort island of Jeju in Ju
U.S. automakers draw big crowds

IndustryJan 16, 2011

DETROIT (AP) ― Sharp designs with pizzazz, power and elegance helped pull in crowds during the public opening Saturday of the North American International Auto Show, with U.S automakers doing their best to impress consumers looking for signs of the industry’s recovery.Thousands of people from around the world filed from exhibit to exhibit inside the sprawling Cobo Center in Detroit. They perused t
Golden Globes to launch Hollywood awards season

FilmJan 16, 2011

LOS ANGELES (AFP) ― Hollywood’s annual awards season kicks off Sunday as stars and filmmakers gather for the Golden Globes, with British historical drama “The King’s Speech” hoping for a boost toward Oscars glory.Starring Colin Firth as the stuttering King George VI, the movie is nominated in seven categories at the Globes, seen as a key pointer to who will win prizes at the Academy Awards next mo