The Korea Herald

Banks move to raise ATM fees to make up for earnings

Jul 18, 2013

Some lenders highlight marked fall in overall earnings
LG Household & Healthcare executive richest ‘non-owner’

IndustryJul 18, 2013

LG Household and Healthcare vice chairman Cha Suk-yong is the wealthiest executive who is not a member of a conglomerate family among the top 100 companies in Korea, data showed on Thursday.Cha topped the list with around 25.2 billion won ($22.4 million) in stock assets, overtaking Koo Hak-seo, chairman of Shinsegae Group, who topped the list last year, according to Korea CXO Institute, which collects data on major corporations. The vice chairman’s assets jumped 7.55 billion won in just a year a
Economic activity of young Koreans slides to 10-year low

Jul 18, 2013

The proportion of young Koreans in their teens and 20s currently working dropped to the lowest level in about a decade, Statistics Korea data showed Thursday.The so-called economic participation rate for those aged between 15 and 29 stood at 43.3 percent as of May 2013, down from 44.7 percent a year earlier.The figure is the lowest since the government agency started producing data on the rate in 2005. The labor force participation ratio is based on a nationwide census every May.The figure, whic
LG Uplus launches LTE-Advanced service

Jul 18, 2013

LG Uplus Corp., the country’s smallest mobile carrier, introduced its next-generation mobile network on Thursday, offering speeds twice as fast as the existing long-term evolution network.This move by LG Uplus came as its bigger local rival SK Telecom Co. unveiled here last month the world’s first LTE-Advanced network service.With the use of the LTE-Advanced network, an 800 megabyte file takes some 40 seconds to download, compared with 80 seconds with the existing LTE service, it said.The LTE-Ad
Fewer businesses launched in 2012

Jul 18, 2013

The number of people starting their own business last year dropped for the first time in three years amid toughened economic and business environment, data showed Thursday.According to the data by the National Tax Service, people who launched their own business last year totaled 956,406, down 3.8 percent from 994,386 tallied a year earlier. This marked the first time in three years that the number of newly launched businesses has declined on a year-on-year basis.In the retail sector, the number
Hanyang Securities warned for unfair trading

Jul 18, 2013

The nation’s main bourse on Thursday issued a warning to Hanyang Securities for engaging in irregular trading of financial derivatives products.The brokerage unit of Hanyang University sought to hamper other investors’ profits through the trading of KOSPI200 option products by issuing an excessive amount of “sell” orders at a certain price, according to the Korea Exchange.Exchange officials said the biggest victims in the aftermath of the firms’ practice were small investors. As Hanyang took a l
UPS bets big in Korea with tailored services

IndustryJul 18, 2013

New Korean unit head pledges to prosper together with local partners
LG rebrands smartphone lineup

TechnologyJul 18, 2013

LG Electronics has officially ditched the Optimus brand, announcing on Thursday its decision to name its latest flagship smartphone “LG G2.”The name change was perceived mostly as an attempt to revamp brand image, and even LG conceded that it was time for a change as LG smartphones have been associated with mainly mid-end devices. “Without the Optimus brand, we believe that the G series will be more competitive in the global premium handheld market,” an LG official said. Built with Qualcomm’s 2.
Taekwan prospers in China

Jul 18, 2013

It has not been easy for Korean food and distribution companies to find success in China due to their Chinese rivals’ fast growth. However, Taekwan, a Korean food distribution company that entered the Chinese market 20 years ago, is prospering there thanks to its strategy focusing on customers.The company imports products from Korea’s large food makers such as Nongshim, CJ and Dongsuh, and distributes through Chinese channels. It achieved exports worth 37 billion won ($32 million) last year with
LG Display’s earnings grow

IndustryJul 18, 2013

LG Display’s second-quarter earnings increased both on-quarter and on-year despite the sluggish market environment, the company announced Thursday.The world’s top flat-panel maker generated 6.6 trillion won ($5.9 billion) in total revenue and 366 billion won in operating profit, according to the company.Though the company’s total revenue diminished from 6.9 trillion won compared to the same period last year, its operating profit surged by about 130 billion won.The quarterly operational profit in
Minister urges firms to join shale gas rush

Jul 18, 2013

SEJONG (Yonhap News) ― The commerce minister called on the country’s energy firms to actively take part in the global development of shale gas, a new and inexpensive source of energy that may reshape the global energy market once fully developed.“We must quickly set up a strategic plan to join the global efforts develop shale gas when considering the impact the development of shale gas in the North American region will have on our petrochemical firms,” Yoon Sang-jick, the minister of trade, indu
Samsung unveils 1 terabyte SSD

IndustryJul 18, 2013

Samsung Electronics, the world’s largest chipmaker, showcased its new solid state drive lineup Thursday, proclaiming the beginning of the terabyte era in the SSD market. “After accelerating the growth of the SSD market with last year’s launch of entry-level, high-performance SSDs, we are introducing much faster SSDs with up to 1TB capacities, offering consumers a wider range of choices,” said Jun Young-hyun, executive vice president at Samsung’s memory sales and marketing department. “Samsung co
U.K. arboretums offer specialized education programs

Jul 18, 2013

The role of arboretums and botanical gardens has altered. Until recently, arboretums have combined display, collection, research and education.Botanical gardens in foreign countries have put much importance on educational programs, developing them not only for ordinary visitors, but also for experts.Education is one of the important roles arboretums play, teaching people the relationships between plants and humans. It also helps arboretums preserve endangered plants. Moreover, people can learn h
Korea building Asia’s largest alpine garden

Jul 18, 2013

Baekdu-Daegan National Herald Interview Arboretum being built in Bonghwa to offer ecological experience
Seoul shares dip 0.64 pct on foreign selloff

Jul 18, 2013

South Korean stocks declined 0.64 percent Thursday on a foreign selling as U.S. Federal Reserve Chairman Ben Bernanke said a tapering of the monetary easing will come in due time, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.01 points to close at 1,875.48. Trading volume was moderate at 374.9 million shares worth 3.42 trillion won (US$3.05 billion), with losers outstripping gainers 463 to 317. "Bernanke's remarks