The Korea Herald

Korea helps forestation in Indonesia

IndustryJul 9, 2013

Relaxing in a rich forest is a popular getaway these days for people living in a busy city, so they can escape from their hectic lives. While seeing this growing trend in its own land, the state agency Korea Forest Service pledged to help its Southeast Asian neighbors recover their rich greenery and create educational and recreational forests in the region where deforestation is occurring rapidly due to industrialization. As the first move in such efforts, Korea and Indonesia had a ministerial m
Companies turn eyes to overseas plantations

Jul 9, 2013

Korea Forest Service offers various incentives to spur investments
S. Korea, Russia to cooperate on harbor development in Far East, Arctic Sea

Jul 9, 2013

South Korea and Russia agreed Tuesday to cooperate on developing harbors in the Russian Far East and the Arctic Sea as well as on other projects as part of efforts to boost bilateral ties, Seoul's finance ministry said.The two countries also agreed to improve cooperation in such fields as trade, investment, resource development and agriculture, according to the ministry.The agreements were reached at a South Korea-Russia joint committee meeting on the economy, science and technology held in Seou
Seoul shares gain 0.74 pct on eased China woes

Jul 9, 2013

South Korean stocks closed 0.74 percent higher Tuesday as worries about a worsening Chinese economy eased, analysts said. The local currency rose sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.50 points to finish at 1,830.35. Trading volume was light at 254.4 million shares worth 3.11 trillion won (US$2.71 billion) with gainers outpacing losers 499 to 286. "Some predicted a 6-percent level on-year growth for China. But investors seem to have d
Seoul shares up 0.31 pct in late-morning trade

Jul 9, 2013

South Korean stocks traded 0.31 percent higher late Tuesday morning, as large-cap firms narrowed gains from earlier sessions amid a foreign net selloff, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 5.61 points to 1,822.46 as of 11:20 a.m.Samsung Electronics narrowed its gains to advance 0.6 percent, with auto parts maker Hyundai Mobis staying almost flat. No. 1 mobile carrier SK Telecom lost 0.7 percent, with state-run electricity provider Korea Electric Power
Seoul shares open higher on U.S. gains

Jul 9, 2013

South Korean stocks got off to a strong start Tuesday, buoyed by Wall Street gains overnight on signs that the world's No. 1 economy is improving as it starts earnings season, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.65 points, or 0.37 percent, to 1,823.50 in the first 15 minutes of trading. Top-listed companies were bullish, led by market heavyweight Samsung Electronics going up nearly 2 percent. Major banking group Shinhan Financial also gained 1 percent. T
FSS to rein in pay for top insurance, securities execs

Jul 8, 2013

The nation’s financial regulator plans to widen its investigation into the incomes of bank executives to heads of insurance and securities companies.The Financial Supervisory Service said Monday that it would launch an investigation into the annual paychecks of every single executive of insurance firm and brokerage. The investigation will take place before the turn of the year, the regulator said. The move came about two weeks after the FSS officially confirmed its decision to screen the annual
Korea to overhaul monitoring of state enterprises

Jul 8, 2013

State companies called on to manage debt, create jobs and improve services
Crew tried to abort landing before San Francisco crash

IndustryJul 8, 2013

Korean investigators interview pilots; authorities need time to determine cause of crash
[Graphic News] Investment Banks cut global growth outlook to 2.9%

Jul 8, 2013

The average global economic growth outlook for this year provided by 11 foreign investment banks in June was 2.9 percent, a 0.2 percent decrease from the 3.1 percent previously estimated at the end of last year. Korea’s growth forecast was reduced to 2.7 percent from 3.0 percent. The figure was compiled by Yonhap News based on data from financial institutions.
Incheon, Asiana popular among Chinese passengers

Jul 8, 2013

Incheon International Airport and Asiana Airlines have grown popular among Chinese travelers over recent years as a pleasant intercontinental flight transfer channel. Of the 291 passengers who were on board Asiana Airlines’ Boeing 777 that crash-landed in San Francisco on Saturday, local time, 141 were of Chinese nationality.This was almost double the number of Koreans or Americans, at 77 and 61, respectively.The deaths in the crash were two Chinese teenage girls, Ye Mengyuan and Wang Linjia, wh
Pilot error or mechanical problem?

IndustryJul 8, 2013

Clearer picture expected to come after investigation of pilots
Korean phones most popular in EU: KOTRA

Jul 8, 2013

Backed by the rise of K-pop and the effectuation of the Korea-EU Free Trade Agreement, Korean mobile phones have become the most popular product in the European market, according to the Korea Trade-Investment Promotion Agency.The Korean Wave and the bilateral trade pact, in a combined score, have so far produced an economic effect equivalent to 1.58 trillion won ($1.37 billion), the state-run agency said Monday through a report.The effect of the former was some 665.6 billion won, almost double t
Cumulative sales of Hyundai Sonata in U.S. top 2m units

IndustryJul 8, 2013

Hyundai Motor Co., South Korea’s top automaker, said Monday that it has sold more than 2 million units of its midsize Sonata sedan in the United States in more than two decades.The move represents the steady popularity of the Sonata in the world’s second-largest automotive market.The carmaker said sold 2.01 million units of various Sonata models since 1989 when it introduced the Sonata in the U.S., accounting for one-fourth of Hyundai cars sold in the country. “The strong Sonata sales in the U.S
Ministry to reevaluate plans for regional institutional establishments

Jul 8, 2013

The government will reevaluate its initial plan of establishing regional national institutions and redraw it from scratch after thorough feasibility studies and reviews, the Ministry of Strategy and Finance said Monday.President Park Geun-hye pledged in her election campaign that her government would establish or relocate some national institutions to provinces to spur regional growth.Its initial proposal included building a national rehabilitation hospital in Ulsan, and a national aerospace tec