The Korea Herald

BAT Korea supports social sharing with Korean community

BusinessMar 5, 2013

Companies’ social contributions are important in helping society stay healthy. Among different corporate management philosophies that abound in Korean society, British American Tobacco Korea has held on steadfastly to social responsibility.The company has over 1,000 employees and operates a manufacturing facility in Sacheon, South Gyeongsang Province.“Some people believe tobacco and social responsibility do not mix,” a BAT Korea spokesperson said. “Tobacco can involve risks, but those risks are
SimCity rebuilt for modern life

TechnologyMar 5, 2013

A 10-year wait ends Tuesday with the arrival of 'SimCity,' a computer game that challenges players to build thriving cities in the face of conditions such as limited funds and climate change.The sequel to the city-building computer game that factors in real-world consequences of energy choices, urban plans, and policy decisions debuts in the US for $60 a copy.'SimCity' will be available in Britain three days later as part of a global rollout, according to game publisher Electronic Arts. The game
Samsung phone to track users' eye movement

TechnologyMar 5, 2013

Samsung’s next smartphone will include a feature to track a user‘s eye movements to automatically scroll pages, The New York Times reported.The Galaxy S IV, to be introduced this month, will track a user’s eyes to determine when and how to scroll images on its display, a Samsung employee who spoke on condition of anonymity told the Times.For example, when a user‘s eyes reach the bottom of a page of an article, the display will automatically scroll down to reveal the next page of text.Samsung has
Seoul shares up 0.54 pct in late-morning trade

Mar 5, 2013

South Korean stocks traded 0.54 percent higher late Tuesday morning, led by gains in large-cap tech and utility firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 10.93 points to 2,024.08 as of 11:20 a.m.Chipmaker SK hynix surged 3.5 percent, with state-run electricity provider Korea Electric Power Corp. jumping 2.2 percent. In contrast, steelmakers and oil refiners lapsed into negative territory, with No. 1 player POSCO sliding 0.7 percent and leading oil ref
Seoul shares open higher on Fed's stimulus bet

Mar 5, 2013

South Korean stocks got off to a strong start Tuesday, cheered by remarks from a U.S. Federal Reserve official supporting the bond-buying program amid speculations the Fed may put an end to it, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained12.22 points, or 0.61 percent to 2,025.37 in the first 15 minutes of trading. Most shares trended upward, with large-cap exporters fueling the main index. Market behemoth Samsung Electronics rose 1.2 percent, with No. 1 carmaker
[Newsmaker] Kim Jeong-hoon, patriot or scapegoat?

Mar 4, 2013

The obstacles were too many and the pressure was building up, fast. In the end, Kim Jeong-hoon admitted his defeat.Kim, yet another embattled nominee for the Park Geun-hye Cabinet, stepped down on Monday after being pummeled over his dual citizenship status.As head of Alcatel-Lucent’s Bell Labs and Corporate Strategy, Kim excelled in his field and touted extensive global ― if somewhat U.S.-oriented ― expertise. He certainly seemed to fit the bill for the new ministry created under Park to spearh
[Power Korea] CJ E&M helps spread Korean pop culture across globe

IndustryMar 4, 2013

CJ E&M has been committed to the long-term goal of helping raise Korea’s national competitiveness through making business out of Korean cultural content.Rather than simply using hallyu to net short-term profits, CJ E&M has focused on becoming Asia’s top cultural content company that leads trends and creates culture through various media platform service and content ranging from broadcast and film to music, performance and games.“Considering that Korea’s manufacturing sector such as cars, electro
[Power Korea] CJ rises as beacon of Korean food, shopping, pop culture

IndustryMar 4, 2013

CJ Group expands bio pharma, entertainment, home shopping, logistics businesses abroad
E-mart grants regular status to 10,000 staff

IndustryMar 4, 2013

Retail giant takes measure after Labor Ministry instruction
Korea becomes world’s eighth-biggest trader

Mar 4, 2013

Korea became the eighth-largest trading country last year, but exports by small and medium-sized companies are on the decline, according to the Ministry of Knowledge Economy. The country’s imports and exports amounted to $1.07 trillion last year and were ranked eighth in the world, the ministry said Monday, citing a report by the World Trade Organization.Though the figure was a 1.1 percent fall from the previous year, it surpassed that of Italy for the first time, the report showed.Also, Korea’s
Korean car sales slow in Feb.

IndustryMar 4, 2013

Korean carmakers led by Hyundai Motor and Kia Motors saw their car sales slow in February as holidays, the removal of tax breaks and the prolonged economic slowdown sapped new car demand here. Hyundai, the nation’s largest carmaker, said Monday it sold 318,957 vehicles last month globally, up 1.5 percent from a year ago. In its home turf alone, however, the company said its car sales fell 11.5 percent to 47,489 in February. “Reduced working days during the New Year holidays led to a sales decrea
NongHyup Financial seeks over W1tr in profits for 2013

Mar 4, 2013

NongHyup Financial Group Inc. aims to post more than 1 trillion won ($916.5 million) in profits this year, but a potential rise in loan-loss reserves and bad debt may squeeze the group’s bottom line, its chief said Monday.“The group plans to spend this year beefing up its competitiveness in a bid to prepare for a ‘take-off’ in 2014,” Shin Dong-kyu, the president of the group, told a press conference marking the one-year anniversary of the group’s establishment.NongHyup Financial Group was launch
Creditors OK debt rescheduling for Ssangyong E&C

Mar 4, 2013

Creditors of Ssangyong Engineering & Construction Co. agreed Monday to initiate a debt-restructuring program for the troubled builder to rescue the company from a cash crunch, bank officials said. Creditor banks of Ssangyong E&C, including Woori Bank and Shinhan Bank, put the matter to a vote at a meeting, with those holding credit worth 95 percent of the total debt agreeing to the plan, according to the officials. According to local law, a corporate workout program must be approved by creditor
Nongshim to expand U.S. instant noodle plant

IndustryMar 4, 2013

Nongshim Co., South Korea’s leading instant noodle maker, said Monday that it will expand its instant noodle plant in Los Angeles to meet growing demand there. The expansion will increase the plant’s daily production capacity to 1.5 million units and its annual production capacity to 550 million units from the current 440 million, the company said. The expansion, to be completed at the end of this month, will likely raise sales of Nongshim America Inc., Nongshim’s U.S. subsidiary, to $200 millio
Consumer prices grow 1.4% on-year in Feb.

IndustryMar 4, 2013

SEJONG (Yonhap News) ― South Korea’s consumer prices increased at a slower pace in February, with the growth rate staying in the 1-percent range for the fourth straight month, a government report showed Monday.The country’s consumer prices index rose 1.4 percent on-year in February, compared with a 1.5 percent on-year advance in the previous month, according to the report by Statistics Korea. From a month earlier, it grew 0.3 percent.The on-year figure marked the fourth straight month that the p