The Korea Herald

Taiwanese ramen bowl has iPhone dock

TechnologyJan 24, 2013

A Taiwanese company has dubbed its latest product, a ramen noodles bowl with an iPhone dock, the “anti-loneliness bowl.”MisoSoupDesign partners Minnie Jan and Daisuke Nagatomo, who attended Columbia University together, said they were inspired to create the “anti-loneliness bowl” when they spotted a man eating alone while clutching his phone, the New York Daily News reported Wednesday.“He just couldn‘t let the phone go!” Jan said. “We thought it would be a good idea to help him restore his manne
Online game ‘ArcheAge’ to see a watershed for success this weekend

TechnologyJan 24, 2013

Korean online game “ArcheAge” is expected to face a turning point for success this weekend.XLGAMES, developer of “ArcheAge,” released a game installation package called “Smart Package” through local convenience stores on Dec. 21. The package included game client installation DVDs, the game’s original soundtrack and a 10-day free play coupon.The package, which costs 3,900 won, was popular with customers who were waiting for one of the most anticipated blockbuster titles of 2013. On the day of its
Seoul shares down 0.09 pct in late-morning trade

Jan 24, 2013

South Korean stocks traded 0.09 percent lower late Thursday morning due to losses in large-cap exporters, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) dipped 1.8 points to 1,978.61 as of 11:20 a.m.Tech giant Samsung Electronics fell 0.61 percent and LG Display, a major screen supplier of Apple, dropped 2.42 percent.Carmakers continued bearish movement amid the yen weakness, with industry leader Hyundai Motor sliding 1.38 percent.However, top steelmaker POSCO rose 1.94
U.S. trade body to review Apple-Samsung patent ruling

IndustryJan 24, 2013

The U.S. International Trade Commission (ITC) has decided to review a judge's ruling that could potentially lead to an import ban on several Samsung Electronics Co. products on rival Apple Inc.'s home turf.In a decision made on Wednesday in Washington, the ITC said it would review the preliminary ruling that found Samsung smartphones and tablet PCs infringed upon four patents held by the iPhone maker.In October, ITC Administrative Law Judge Thomas Pender ruled that Samsung mobile devices infring
Global Internet hit 2012 speed bump: study

TechnologyJan 24, 2013

Global Internet connection speeds around the world slowed in late 2012, according to a survey released Wednesday that suggested a temporary stall in broadband gains.Akamai Technologies‘ third quarter “State of the Internet” report also showed China remained the biggest source of computer attacks, and that Brazil and China appear to have the biggest surge in Web use. The global average connection speed decreased by some seven percent between the second and third quarters of 2012 to 2.8 megabytes
Seoul shares start lower on poor economic data

Jan 24, 2013

South Korean stocks opened lower Thursday on the country's lower-than-expected growth, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.52 points, or 0.63 percent, to 1,967.89 in the first 15 minutes of trading.Large-cap shares led the decline, with market bellwether Samsung Electronics falling 1.36 percent.Top shipbuilder Hyundai Heavy Industries lost 1.1 percent and No. 1 carmaker Hyundai Motor slid 1.83 percent.The country's central bank said earlier in the day th
U.S. panel approves heavy duties on Korean washers

IndustryJan 24, 2013

A U.S. trade panel on Wednesday approved heavy anti-dumping duties on South Korean-made washing machines, ending a domestic process initiated by a petition by Whirlpool Corp., a Michigan-based home appliance maker.The United States International Trade Commission (USITC) announced that it "determined that a U.S. industry is materially injured by reason of imports of certain large residential washers from Korea that the U.S. Department of Commerce has determined are subsidized and from Korea and M
Korea’s 2012 GDP hits three-year low at 2%

Jan 24, 2013

Korea’s economy grew by 2 percent in 2012, the slowest in three years, due to low consumption and a sharp decline in facility investment stemming from the global economic slowdown, the Bank of Korea said Thursday.The actual growth rate of the nation’s gross domestic product is lower than the initial forecast of 2.4 percent made in October 2012, and the lowest since 2009 when growth expanded by just 0.3 percent during the global financial crisis. The BOK said the GDP grew 0.4 percent in the fourt
Samsung buys time with ITC review

TechnologyJan 24, 2013

The U.S. International Trade Commission has decided to review a previous preliminary ruling to ban the sales of Samsung Electronics’ smartphones. The move is likely to buy the company some time, but may not be all good news for the Korean electronics maker. The review will be for four of the six patents that a judge of the commission had ruled to be infringing Apple’s patents. Both Samsung and Apple appealed the ruling, which had been reached in October last year. Many viewed the ruling at the t
Korea moves to rein in currency strength

Jan 23, 2013

Analysts say Japan’s monetary easing may lead to currency war
Royalty payments near $8b

Jan 23, 2013

Korea spent about $7.7 billion on royalty payments, including the usage of intellectual property rights, to foreign firms for the first 11 months of 2012, data from the Bank of Korea and Idea Bridge Asset Management showed Wednesday.The payments posted a 5.5 percent growth from the previous year, according to the central bank. But royalties paid to local information technology firms remained at $3.24 billion during that period, bringing the overall balance to a deficit of $4.45 billion, accordin
Female vice president named GM Korea CFO

TransportJan 23, 2013

GM Korea Co., the local unit of U.S. General Motors Co., said Wednesday that a female vice president has been named its chief financial officer.Minerva Matibag, currently the CFO for GM’s Brazil unit, will also be in charge of finances for the firm’s operations in Vietnam and Uzbekistan, GM Korea said in a statement. The first woman CFO of GM Korea will start her job on Feb. 1, the company added.The Filipina started her financial career at GM’s Asia Pacific office in 1997 and went on to financia
Samsung taps former Sony exec to head Japanese arm

IndustryJan 23, 2013

Masaaki Tsuruta, a former executive at Sony of Japan, was tapped as the head of Samsung Electronics Japan, Samsung officials confirmed Wednesday.Tsuruta, 56, was appointed to the post as of Jan. 1 to overlook the Japanese corporation, which is mandated to handle mostly equipment and parts, such as semiconductors and LCD panels.Samsung Electronics had reshuffled its Japanese operations in March last year by disassembling its existing entity to form two separate offices: one for handling smartphon
LSIS wins power system order for KEPCO-Alstom JV

Jan 23, 2013

LSIS, a leading cable company in Korea, said Wednesday it was selected as a preferred bidder to manufacture a high-voltage direct current system, an advanced electric power transmissions technology, for KEPCO-Alstom Power Electronics System. KEPCO-Alstom Power Electronics System is a joint venture firm between state-run KEPCO and France-based Alstom for electricity-related businesses. The deal will transfer the HVDC technology to LSIS and support the company to tap into the lucrative, high-end e
Shares dip ahead of earnings releases

Jan 23, 2013

South Korean stocks dropped 0.81 percent Wednesday as investors took to the sidelines ahead of releases of fourth-quarter earnings of big-name companies, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 16.11 points to finish at 1,980.41. Trading volume was moderate at 485.7 million shares worth 4.16 trillion won ($3.9 billion) with losers outnumbering winners 500 to 300.“Investors remain cautious to see how large-cap com