The Korea Herald

JTI Korea introduces MEVIUS LSS Lights

Jul 24, 2013

Japan Tobacco International Korea, the local branch of the tobacco manufacturer, released its new product MEVIUS LSS Lights, which contains 6 milligrams of tar, on Wednesday. Company officials said the technology used in the product would reduce the smell of smoke in the air while keeping the taste smooth.“Our promise is to continue to deliver cigarettes and packs in touch with the latest product innovations and consumer trends. MEVIUS LSS is another example of how this unique international bran
GM Korea reaches wage deal with union

Jul 24, 2013

GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., reached a tentative wage deal with its union after days of partial strikes, a company official said Wednesday.The agreement calls for a hike of 92,000 won ($82) in basic salaries and 10 million won in a lump-sum incentive payment and performance-related bonus, said GM Korea spokesman Kim Byeong-soo.Kim said some 14,000 unionized workers are set to vote on the tentative agreement on Thursday and Friday, adding the deal coul
Global economy being more dependent on G3: BOK

Jul 24, 2013

South Korea’s top central banker said Wednesday that countries around the globe are seen as more sensitive to economic conditions facing the group of three major economies in the wake of the global financial crisis.Bank of Korea Gov. Kim Choong-soo said in a monthly meeting with economists that countries are closely watching how economic conditions in the U.S., the eurozone and China will evolve in a bid to receive any guideline for steering their economies.“Compared with the past, it seems that
Samsung Electronics boasts top working conditions

Jul 24, 2013

Samsung Electronics Co., the world’s leading smartphone marker, was found to have one of the most favorable working conditions in South Korea and to have contributed the most to the local economy, a report showed Wednesday.According to the report released by Chaebul.com, a business researcher, the tech giant saw its working environment index reach 66.3 points out of 100, marking the highest grade among 300 local companies tallied.The index takes four criteria ― contributions to the economy, empl
LG to launch G2 in NYC

TechnologyJul 24, 2013

LG Electronics will be holding a global launching ceremony for its G2 smartphones in New York City.LG’s latest brainchild will be on display on Aug. 7 at Jazz at Lincoln Center in New York City near Central Park, the company said, with invites sent out to more than 500 media outlets. “We decided the importance of the North American market and the strength of the American carriers were good enough reasons for us to decide on New York,” said Ken Hong, a spokesperson for LG Electronics.LG reportedl
LGE registers stellar performance in Q2

TechnologyJul 24, 2013

LG Electronics seemed to be headed toward a solid recovery, with second quarter sales brightening significantly on the back of strong performances in air conditioners and mobile handsets.Sales for the company based on consolidated statements rose 10 percent from last year and 8 percent from the previous quarter, while operating profit surged 37 percent compared to the first quarter, the electronics heavyweight said in a regulatory filing. “It was a difficult year, with the business environment f
Adopting a smarter commerce strategy

TechnologyJul 24, 2013

Understanding customers is about more than sales
Galaxy S4 LTE-A reinforces market lead

IndustryJul 24, 2013

Use of faster 4G network gives Samsung advantage over rivals
Eurozone recovery hopes mount after survey

BusinessJul 24, 2013

LONDON (AP)--A closely watched survey has raised hopes that the laggard of the global economy, the 17-country eurozone, may be growing again.Financial information company Markit said Wednesday that its monthly purchasing managers' index, a broad gauge of economic activity, for the eurozone rose for the fourth month running, to 50.4 points in July from 48.7 the previous month. The increase reflected improvements in both the manufacturing and services sectors.That's the first time that the survey
Seoul shares gain 0.42 pct on low hopes for earnings

Jul 24, 2013

South Korean stocks inched up 0.42 percent on Wednesday, as investors took to the sidelines on low hopes for second-quarter corporate earnings, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 7.93 points to close at 1,912.08. Trading volume was moderate at 315.9 million shares worth 3.47 trillion won (US$3.11 billion) with gainers outstripping decliners 443 to 339."The main index managed to close in positive
LG Electronics Q2 net slips 8 percent

IndustryJul 24, 2013

South Korean consumer electronics giant LG Electronics Inc. said Wednesday its second-quarter earnings declined 8 percent from a year earlier largely due to increased marketing costs and one-off costs.Net profit reached 156 billion won (US$140 million) in the April-June period, compared with a profit of 169 billion won a year earlier, LG Electronics said in a regulatory filing.Revenue jumped 10.1 percent on-year to 15.23 trillion won over the cited period, while operating profit declined 9 perce
Seoul shares almost flat in late-morning trade

Jul 24, 2013

South Korean stocks were almost flat late Wednesday morning, as large-caps traded mixed amid upbeat expectations on improved corporate earnings, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.63 points, or 0.09 percent, to 1,905.78 as of 11:20 a.m.Top-cap Samsung Electronics lost 0.3 percent, while second-largest Hyundai Motor went up 0.2 percent. Chemical companies and shipyards were bullish but financial blue chips lost ground. No. 4 lender Shinhan Financial Gro
Seoul shares turn higher after weak start

Jul 24, 2013

South Korean stocks reverted to a slight gain on Wednesday after a bearish start, following the 1.3 percent rally of the previous session, analysts said. After opening a tad lower, the benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.34 points, or 0.02 percent, to 1,904.49 in the first 15 minutes of trading. Tech and auto blue-chips led the decline, with Samsung Electronics slipping 0.3 percent and Hyundai Motor falling 0.2 percent. But LG Chem, a leading chemical maker, and top g
Samsung Electronics boasts top working conditions: report

IndustryJul 24, 2013

Samsung Electronics Co., the world's leading smartphone marker, was found to have one of the most favorable working conditions in South Korea and to have contributed the most to the local economy, a report showed Wednesday.According to the report released by Chaebul.com, a business researcher, the tech giant saw its working environment index reach 66.3 points out of 100, marking the highest grade among 300 local companies tallied.The index takes four criteria -- contributions to the economy, emp
U.S. car sales in S. Korea soar after FTA, official says

IndustryJul 24, 2013

U.S. Secretary of Commerce Penny Pritzker said Tuesday that U.S. automobile sales to South Korea have sharply grown since a bilateral free trade agreement (FTA) went into effect in March last year.She was stressing the effects of existing FTAs with South Korea and other nations as Washington seeks to expand similar bilateral or multilateral trade deals."To help our exports keep growing, the (Barack Obama) administration has implemented new trade agreements. They are already bearing fruit," she s