The Korea Herald

SNS stock scams face clampdown

Mar 31, 2013

Financial authorities plan to bolster supervision of unfair stock trading practices via social networking services.The regulatory policy comes amid groundless rumors that have been rampant lately on social networks including Facebook, Twitter and smartphone applications.To crack down on cyber-based stock manipulation, the Financial Supervisory Service plans to closely coordinate with the Financial Services Commission and the Korea Exchange.An official of the Korea Exchange said the main bourse o
CEO resignations spawn speculation about motive

IndustryMar 31, 2013

Series of resignations reported at Doosan, Hanjin, Lotte and Shinsegae
Local market for smartphones faces stagnation: report

TechnologyMar 31, 2013

The growth of the South Korean market for smartphones will begin slowing down this year and possibly post a negative growth in 2016 due to market saturation, a U.S. market research group said in a report released Sunday.According to the report from Strategy Analytics, the local market for smartphones is expected to grow 8 percent from a year earlier to around 33.1 million units this year.The growth rate will mark a significant slowdown from an explosive 717 percent on-year surge in 2010, as well
Korean exports to Japan tumble

Mar 31, 2013

Automakers hit hardest by depreciation of yen
Real hero

TransportMar 31, 2013

Porsche is likely to maintain a low profile at this year’s Seoul Motor Show, but the Korean debut of the new Cayman and Cayman S seem enough to captivate sports car fans here. The Porsche Cayman is a mid-engine layout rear-wheel-drive coupe derived from Porsche’s second- and third-generation Boxster roadster. The new, third-generation two-seat sports car has again undergone a complete redevelopment. It is lower and longer, lighter and faster, and more efficient and powerful then ever, the carmak
Ssangyong Motor seeks new leap forward

TransportMar 31, 2013

Ssangyong Motor CEO Lee Yoo-il pledged to shake up the competition in the local luxury sedan market long dominated by Hyundai and foreign rivals at the unveiling of its newest Chairman at the Seoul Motor Show on Thursday.“In the large sedan segment where competition with imported carmakers is fierce, I believe the Chairman W Summit will become a game-changer,” he said, introducing the model. He set this year’s sales target for the new Chairman at about 500 vehicles. The Chairman W Summit, which
Audi accelerates with R8 sports car

TransportMar 31, 2013

For Audi, the hottest-selling luxury car brand in Korea, the year 2012 was stunning, with its car sales almost doubling from a year ago. This year the carmaker aims higher, rolling out sportier, high-performance models. At the heart of the ambitious plan is the R8 sports car. At Seoul Motor Show that kicked off Thursday, Audi unveiled a total of 22 vehicles ― the most among foreign brands ― including two Korean debuts, the R8 V10 Coupe and Spyder.“Introducing more vehicles than other imported br
Two debuts for Mercedes-Benz

TransportMar 31, 2013

Mercedes-Benz Korea made several debuts at Seoul Motor Show that kicked off Thursday. One was the long-anticipated A-Class, the smallest, cheapest Mercedes that will finally hit the Korean market in the latter half of this year. Even though the car debuted globally in 1997, the German luxury carmaker has delayed the launch of the 1,800 cc hatchback in Korea where its larger sedans are enjoying an unrivaled premium image. The other debut on the day was Britta Seeger, the Korean unit’s new and fir
Jaguar Land Rover bets big on Korea

TransportMar 31, 2013

One of the highlights at this year’s Seoul Motor Show may be the presentation by Jaguar’s design director Ian Callum for the long-anticipated F-Type roadster. In his first visit to Korea, the legendary car designer, 59, personally unveiled the two-seat F-Type, the first sports car made by the British luxury brand since the 1970s. “It’s a true breakthrough product for Jaguar. It marks our return to the sports car market,” he said of the F-Type, which will go on sale globally this summer. In order
Renault Samsung out to recapture Koreans’ hearts

TransportMar 31, 2013

Renault Samsung is out to recapture the hearts of Koreans, this time with a compact SUV crossover and the SM5 XE TCE that it rolled out at Seoul Motor Show this week. The cars were distinctively cool, and reflected the promise the carmaker, which has performed weakly over the past few years, is making anew to consumers all over the world and in Asia. The number of reporters who packed the Renault Samsung showroom was, if anything, testament that the company was ready for a comeback.“Featuring a
KRX to step up cyber monitoring of stock rigging

Mar 31, 2013

SEOUL -- South Korea's bourse operator will keep closer tabs on stock price manipulation and other unfair trades conducted via the Internet and social networking services, officials said Sunday. To that end, the Korea Exchange (KRX) will establish a cyber supervision center to conduct a real-time check on rumors concerning stock price rigging and other unfair trading activities, the KRX officials said. "The KRX is preparing a system designed to filter rumors circulated online," a KRX offi
US Patent Office denies ‘iPad Mini’ trademark

TechnologyMar 31, 2013

The US Patent and Trademark Office has denied Apple's application for a trademark to safeguard its widely popular iPad mini tablet, saying the case to own the phrase was too weak.Apple, however, has until July 24 to better explain how the iPad mini is different and unique from the larger-sized iPad to counter the rejection seen as largely a formality.The iPad mini mark "merely describes a feature or characteristic of applicant's good," said the rejection letter dated January 24 but that has only
Local market for smartphones faces stagnation: report

IndustryMar 31, 2013

SEOUL -- The growth of the South Korean market for smartphones will begin slowing down this year and possibly post a negative growth in 2016 due to market saturation, a U.S. market research group said in a report released Sunday. According to the report from Strategy Analytics, the local market for smartphones is expected to grow 8 percent from a year earlier to around 33.1 million units this year. The growth rate will mark a significant slowdown from an explosive 717 percent on-year surge
Samsung's Galaxy keeps No.1 spot as most valuable brand

TechnologyMar 31, 2013

SEOUL -- Samsung Electronics Co.'s smartphone brand "Galaxy" was again rated as South Korea's most valuable brand in the first quarter of the year, a survey said Sunday.Samsung's Galaxy earned 938 points in the survey by local research firm, Brandstock, retaining the top spot for the second consecutive year. Discount store chain Emart followed with 924 points, according to the survey, which didn't provide other details, including how much those brands were worth. Last year, Samsung sold more
Park nominates new chief of Fair Trade Commission

IndustryMar 30, 2013

President Park Geun-hye nominated a former state arms procurement agency chief to be the new head of South Korea's antitrust watchdog, the presidential office said Saturday.The nomination of Noh Dae-lae as Fair Trade Commission chief came days after Park's earlier choice for the job resigned amid allegations that he has been holding secret overseas bank accounts to evade taxes.Noh, 57, is an economic technocrat who had worked in various posts at the finance ministry since 1979 before serving as