The Korea Herald

G-Tower in Songdo, hub building for U.N. offices

IndustryJun 26, 2013

G-Tower in Songdo is expected to become a hub for U.N. offices in Korea. This year, the United Nations Economic and Social Commission for Asia and the Pacific and North-East Asia Office moved to G-Tower in the Incheon Free Economic Zone. Three more U.N. offices, including the Global Climate Fund, also plan to move to the same building. UNESCAP-ENEA occupies the sixth and seventh floors of the building, and there is a library that exclusively houses U.N. materials as well as state-of-the-art conf
Global interest rates rise on QE exit

Jun 26, 2013

Korea expected to keep key interest rate steady this year
Conglomerates’ cashable assets gain 10.9%

Jun 26, 2013

Cashable assets held by South Korean business groups climbed 10.9 percent in the first quarter from three months earlier, as they reduced investment amid economic uncertainty, data showed Wednesday.South Korea’s top 10 business groups held 147.3 trillion won ($127.5 billion) in cashable assets as of end-March, compared to 132.8 trillion won tallied in end-December 2012, the data compiled by CEO Score showed.Cashable assets cover cash, cash equivalents and other financial products with a maturity
Corporate investment expected to grow in H2

Jun 26, 2013

The facility investment of South Korean manufacturers is expected to grow slightly in the second half of the year thanks to their plans to improve superannuated facilities, a poll showed Wednesday.According to the survey of 1,000 manufacturers by the Korea Chamber of Commerce and Industry, 34.4 percent of the respondents said that they will increase their capital spending to improve superannuated facilities in the second half of the year compared with a year ago, while 22.2 percent said they wil
Samsung to show tech prowess at innovation forum

IndustryJun 26, 2013

Samsung Electronics will open its Innovation Forum on Thursday where the global tech giant will show off its technology prowess.“We (Samsung) have been growing to the point where we should light the way in the market like a lighthouse,” said Kim Nam-yong, a vice president of Samsung Electronics’ Corporate Management Office at a media event the day before the opening of the Samsung Innovation Forum. The self-assessment was also reflected at a closed-door event, held earlier this month, in which e
Korea may cut tax benefits for high income earners, big firms

TechnologyJun 26, 2013

SEJONG (Yonhap News) ― South Korea might consider scaling down tax benefits available to high income earners and large businesses as part of its efforts to raise more tax revenue to meet growing fiscal demand from expanded welfare programs. The expectation is growing as the state-run Korea Institute of Public Finance earlier made such recommendations to the government for its policy related to temporary tax cut and exemption programs. The tax benefit programs have been provided temporarily for s
Virtual goods new opportunity for telecoms: KT chief

TechnologyJun 26, 2013

KT chairman Lee Suk-chae urged global telecommunications firms to swiftly jockey for the position in the virtual goods marketplace. Delivering a keynote speech at the Mobile Asia Expo 2013 in Shanghai on Wednesday, the head of the nation’s leading mobile carrier said there is no future if they only cling to services they are providing now.Telecoms should jump into the global market for distribution of virtual goods as early as possible to keep up with the fast-changing market trends, he added. A
Hydis gathers ammunition with e-paper displays

TechnologyJun 26, 2013

Hydis Technologies is not what one would call a big company, but for Korea, it has a symbolic meaning. It was one of the firms that foreign capital gobbled up, only to spit out after stripping it of vital assets and technology.Now, Hydis, owned by Taiwan-based E Ink Holdings, is out to get back on the map with the production of e-paper displays, the main element for e-books. Starting in July, Hydis expects to start rolling out electronic paper displays, an area that E Ink is a global leader in.H
Renault Samsung sees less as more in engines

IndustryJun 26, 2013

Renault Samsung Motors is aiming to lead the nation’s engine-downsizing trend with the recent launch of the SM5 TCE, powered by a 1.6-liter turbocharged gasoline engine. It is the first time that a midsize sedan in Korea has been equipped with the smaller 1.6-liter engine. With emissions regulations tightening globally, carmakers have poured substantial resources into fuel-efficient vehicles that are no less powerful. Taking advantage of the Renault-Nissan alliance, the Korean unit of the France
SKT launches world’s fastest mobile network

TechnologyJun 26, 2013

Korean mobile carrier’s LTE-Advanced network is first in the world
Beloved brands

Jun 26, 2013

Coca-Cola, Apple and IBM became the world’s three most valuable brands for 2013, according to Interbrand’s annual Best Global Brands report. The three global companies were followed by Google and Microsoft. These brands can be as viewed the most beloved brands in the world. Among Korean brands, Samsung Electronics ranked ninth in the report. Hyundai Motor Co. and Kia Motors Corp. placed 53rd and 87th, respectively.Feel marketingKevin Roberts, CEO of the advertising agency Saatchi & Saatchi, once
Sheaffer marks centennial milestone

IndustryJun 26, 2013

PENSHEAFFERSheaffer, the world’s leading fountain pen manufacturer, commemorates its 100th anniversary this year, as it continues to expand its business worldwide and innovate its products.Celebrating the milestone, the U.S.-based luxury pen maker released limited editions ― 45 sets of the Sheaffer Centennial Solid Gold Fountain Pens, 516 Sheaffer Centennial Limited Edition Sterling Silver models and 1,913 Sheaffer Centennial Legacy Heritage Sterling Silver editions ― priced between 1.5 million
KB leads premium banking

Jun 26, 2013

PRIVATE BANKINGGOLD&WISE (KB)GOLD&WISE, the specialized private-banking brand of KB Kookmin Bank, has been the market pioneer since it was launched 11 years ago under the business philosophy of sincere professionalism to garner trust among premium customers.Through wide sales networks at the bank’s 23 private-banking-only branches nationwide, it has shown exceptional private-banking products, risk management systems, private-banking expertise and advisory and marketing services. It has strengthe
Singapore Airlines unrivaled in service

IndustryJun 26, 2013

Singapore Airlines has earned international recognition through unrivaled quality service that reflects the company’s commitment to innovation. The air carrier topped Business Insider’s “20 Best Airlines in the World” list this year and the “Best Airline for Premium Class Travel” for the first and business classes in 2012 by DestinAsian. It also won the industry’s top honors such as Fortune magazine’s “World’s Most Admired Companies, Top 50” and Skytrax’s Best Business Class and Cabin Staff awar
IBK introduces smart savings account

Jun 26, 2013

Bank, IBKThe Industrial Bank of Korea has come up with a new and smart savings account product that offers lucrative deposit rates for any consumer seeking to further save and manage earnings.The state-run commercial bank said that the product, named “IBK Shaking Savings” in Korean, allows consumers to create an account through their smartphones by downloading an app.They can also do so through social networking or messenger platforms such as Facebook or Kakao Talk, and join a group created by o