The Korea Herald

Hyundai foundation offers more benefits

IndustryFeb 6, 2013

Hyundai Motor’s Chung Mong-koo Foundation on Wednesday said it would expand its scope of social contribution by launching a program to offer creative educational opportunities for underprivileged households.The extracurricular clubs at the junior and high schools designated by the government to receive priority educational fund support are expected to benefit from the new program, according to the foundation organizers. Starting in March, the foundation will receive applications from these clubs
Eximbank to boost project financing, SMEs

Feb 6, 2013

The Export-Import Bank of Korea will focus on boosting infrastructure project financing and supporting growth of small and medium enterprises this year, said Kim Yong-hwan, president of Korea Eximbank.The state-run policy bank will increase its support in financing overseas projects such as energy plants, highways, railroads, resources and other areas of construction to help Korean companies win deals and create jobs.This move comes as Korea faces tough competition from Japan and China in the in
Toyota Korea aims to sell 18,000 vehicles

IndustryFeb 6, 2013

Japanese auto giant ups offensive on Hyundai’s home turf with launches of new models
LG launches new Windows 8 PCs with touch features

TechnologyFeb 6, 2013

South Korean tech giant LG Electronics Inc. said Wednesday it has released two Windows 8 “Tab-Books,” which combine a tablet with an ultrabook.The new Tab-Book Z160 line-up features 11.6-inch multi-touch displays that can be propped up to reveal a miniature keyboard underneath, according to LG Electronics.The new products are a follow-up to the H160 model, one of LG’s first Windows 8 PCs introduced in October, and run on more advanced processors than the earlier version.The model featuring Intel
Korea’s mobile ad market triples in 2012: report

TechnologyFeb 6, 2013

South Korea’s mobile advertising market nearly tripled last year in line with the growing presence of smartphones and high-speed Internet in the country, a report showed Wednesday.The country’s mobile ad market reached 216 billion won ($198 million) in 2012, compared with 76.2 billion won the previous year, according to the report by the Korea Communications Commission. The figure represents the amount of orders local ad agencies received from their clients.Of the total, search advertising jumpe
NHN to set up new units to bolster mobile business

TechnologyFeb 6, 2013

NHN Corp., the operator of South Korea’s top portal Naver.com, said Wednesday it plans to set up two subsidiaries as part of efforts to strengthen its mobile business.NHN said it has won board approval to inject 40 billion won ($37 million) each to “Camp Mobile” and “LINE Plus.”Under the plan, the company will hold a 100 percent stake in Camp Mobile, which will pioneer NHN’s new mobile services. NHN will also own a 40 percent stake in “LINE Plus,” which will support the company’s flagship mobile
Cash-strapped Koreans turn to IT pawn shops

TechnologyFeb 6, 2013

Tech-savvy South Koreans are temporarily abstaining from their gadgets in exchange for almost-instant cash loans thanks to a new breed of pawn shops specializing in IT products.While traditional pawn shops that deal in everything from fur coats to wedding gifts are going out of fashion, IT pawn shops equipped with modern interiors, Websites and young staff are spreading across South Korea, one of the world’s most wired nations.Kim Moo-hyun, 42, owns one of the roughly 15 so-called IT pawn shops
Chinese handset makers pose challenge

TechnologyFeb 6, 2013

Huawei, ZTE rapidly growing in global smartphone market
U.S. trade body to make final ruling on Samsung, Apple patent suit

BusinessFeb 6, 2013

The final ruling in a patent suit between South Korea's Samsung Electronics and the U.S.' Apple will likely be made in August, the South Korean company said Wednesday, buying Samsung a significant amount of time to prepare for a possible ban on shipments of its products to the U.S.According to officials from Samsung, the final decision by the U.S.' International Trade Commission will be made Aug. 1, following its preliminary decision on April 1. The upcoming reviews will decide whether to uphold
Lunar New Year gift sets see wide price gaps

Feb 6, 2013

As South Korea’s biggest national holiday, Lunar New Year, fast approaches, retail stores are busy piling up gift sets. But a recent survey showed that there is a wide gap in prices, with some stores charging twice as much for the same product.The Korea Consumer Agency released its research on Wednesday comparing price ranges on 20 popular gift sets among 36 retailers including department stores, large supermarkets and online shopping malls across the nation. The country’s consumer watchdog age
NHN to set up new units to bolster mobile business

IndustryFeb 6, 2013

NHN Corp., the operator of South Korea's top portal Naver.com, said Wednesday it plans to set up two subsidiaries as part of efforts to strengthen its mobile business.NHN said it has won board approval to inject 40 billion won (US$37 million) each to "Camp Mobile" and "LINE Plus."Under the plan, the company will hold a 100 percent stake in Camp Mobile, which will pioneer NHN's new mobile services. NHN will also own a 40 percent stake in "LINE Plus," which will support the company's flagship mobi
BlackBerry says thanks with a gift phone

IndustryFeb 6, 2013

Canadian firm BlackBerry said it would give away 12,000 special edition Z10 smartphones to application developers who stuck by the company.Formerly known as Research In Motion, BlackBerry changed its name last week as it launched two new phones, including the all touch-screen Z10. BlackBerry, once a pioneering company in the smartphone market, is now playing catch up to the likes of Apple and other companies that have eclipsed BlackBerry in sales. The new phones will be carried by Verizon Wirele
Seoul shares close almost flat on currency woes

Feb 6, 2013

South Korean stocks ended almost flat on Wednesday as the prolonged currency volatility and North Korea's threat for a nuclear test continued to weigh down the market, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.1 percent, or 1.99 points, to 1,936.19. Trading volume was moderate at 342.9 million shares worth 3.5 trillion won (US$3.3 billion) with gainers outpacing losers 461 to 338."Despite the gains on Wall Street
Samsung to launch Windows 8-based smartphone in Hong Kong

TechnologyFeb 6, 2013

Samsung Electronics Co., the world‘s top maker of smartphones, memory chips and flat-panel TVs, said Wednesday it will start selling a new smartphone that runs on Windows 8 in Hong Kong.The ATIV S will go on sale in the Chinese territory on Thursday as the South Korean tech behemoth seeks to expand its product line of mobile devices and meet the needs of different consumers. “Equipped with the latest Windows Phone 8 smartphone operating system, the new Samsung ATIV S enables users to enjoy the e
Dell buyout highlights PC sector woes: analysts

IndustryFeb 6, 2013

Dell‘s plan to take the computer giant private offers an opportunity to return to its start-up roots, but won’t solve the fundamental problems facing the company and the PC sector, analysts say.The Texas-based tech giant on Tuesday unveiled a $24.4 billion buyout deal giving founder Michael Dell a chance to reshape the former number one PC maker away from the spotlight of Wall Street.Roger Kay, analyst at Endpoint Technologies, said Dell‘s plan underscores the deep problems of an industry roiled