The Korea Herald

S. Korea has more workforce with college diplomas than a decade ago: labor ministry

IndustryDec 23, 2012

The number of South Korean salaried workers with four-year college education has risen drastically for the past decade driven by education-oriented South Korean society, government data showed Sunday.South Korea had 5.4 million employees with college diplomas as of the end of last year, up 88 percent from 2.87 million in 2001, according to figures on the country‘s salaried employees released by the Ministry of Employment and Labor.The total workforce climbed 27.4 percent to 17.4 million from 12.
Global sales of LTE smartphones expected to triple next year: report

TechnologyDec 23, 2012

Global sales of long-term evolution (LTE) smartphones will likely triple next year, driven by South Korea‘s tech giant Samsung Electronics Co. and its U.S. rival Apple Inc., a report showed Sunday.The report by research firm Strategy Analytics (SA) predicted that about 275 million units of LTE smartphones will be sold worldwide next year, which will be three times larger than this year’s annual sales estimate of 90.9 million units.The report expected that the U.S., Britain, Japan, China and Sout
EU: Samsung may have violated antitrust rules

TechnologyDec 22, 2012

The European Union’s executive arm, the Commission, has informed Samsung of its preliminary view that the company’s seeking of injunctions against Apple for allegedly infringing “standard-essential” patents in the EU amounts to an abuse of a dominant position.According to industry agreements, companies owning the rights to essential phone technology must usually license it to competitors on what are called fair, reasonable and nondiscriminatory terms.Joaquin Almunia, the EU’s competition commiss
Four S. Koreans abducted in Nigeria released: official

IndustryDec 22, 2012

All four South Korean workers who were abducted earlier this week in Nigeria have been released, a government official said Saturday.They are all safe and have been handed over to South Korean officials in the African country, the official from the foreign ministry told reporters.They were freed around 10 p.m. Friday (Nigerian time), the official added.The workers from South Korea's Hyundai Heavy Industries were taken hostage Monday, along with a Nigerian co-worker, while working at a constructi
Shop without limits

IndustryDec 21, 2012

Internet, mobile, home shopping continue growth, with leading firms expanding abroad
Show hosts buttress of TV home shopping

IndustryDec 21, 2012

Role of ‘shoptainers’ important in boosting sales and consumer confidence
More households struggling with heavy debts: data

IndustryDec 21, 2012

The nation’s household debt has been rising at a slower pace recently, but the number of struggling families has increased, government data found Friday.According to Statistics Korea, the Financial Supervisory Service and Bank of Korea, the average amount of household debt was 52.91 million won as of the end of March. The growth rate was 1.7 percent, a sharp decline from 12.7 percent last year. Of the nation’s total households, those with debt made up 64.6 percent, up 1.8 percent from the same p
Settlement not in sight in Samsung-Apple patent fight

IndustryDec 21, 2012

The patent litigation still looks to be far from reaching a settlement as Apple Inc. appealed a previous ruling by a U.S. federal judge to call off a sales ban on 26 Samsung Electronics’ products.Apple on Thursday decided to appeal a U.S. judge’s Dec. 17 ruling to reject its request for a sales ban on more than two dozen electronics devices manufactured by Samsung. Those gadgets include the Galaxy S2, Galaxy S2 Epic and Galaxy S2 Skyrocket.U.S. District Judge Lucy Koh has stated that “it wasn’t
Foreign biz community cautious about predicting economy under Park

Dec 21, 2012

Industry watchers say risk factors are gone but economic rebound is unforeseeable
Shares fall on institutional selloff

Dec 21, 2012

South Korean stocks retreated 0.95 percent on Friday, led by institutional selling in tech issues amid the stalled U.S. fiscal budget negotiations, analysts said. The local currency edged up against the U.S. dollar. The benchmark Korea Composite Stock Price Index slipped 19.08 points to finish at 1,980.42. Trading volume was moderate at 545.5 million shares worth 5.27 trillion won ($4.90 billion) with losers outstripping gainers 445 to 359. “Institutions unloaded quite a bit of their holdings in
STX Group sells stake in European unit

IndustryDec 21, 2012

STX Group, a South Korean shipping and shipbuilding conglomerate, said Friday that it has signed a deal to sell its stake in its European shipbuilding unit to an Italian firm as part of efforts to ease the group’s credit crunchUnder the deal with Fincantieri Oil & Gas SpA, STX Europe AS, the group’s local unit, sold its 50.75 percent stake, or 599.85 million shares, in STX OSV Holdings Ltd. at 1.22 Singapore dollars per share, said the company. STX OSV started trading its shares on the Singapore
Park’s aides focus on growth, fair economy

Dec 21, 2012

Following is the second in a series of articles on President-elect Park Geun-hye’s key advisers and close associates. ― Ed. The academic backgrounds of the two key economic policy brains to President-elect Park Geun-hye indicate that the new government will put a priority on growth while promoting “economic democratization” for a fairer economy.Park’s economic pledges have allegedly been engineered by two economists, both of whom were economics professors at Sogang University, where the presiden
Financial watchdog issues English guidebook

Dec 21, 2012

The Financial Supervisory Service on Friday said it has issued an English language guidebook on investing in the Korean stock markets.The book is meant to provide assistance to foreign investors who are seeking to or are currently investing in local stocks, the financial watchdog said. Guidelines and regulations, such as how to register to make an investment, the ceiling on equity ownership, along with other “frequently-asked-questions” that the financial companies said they faced from the forei
S-Oil Corp. congratulates ‘hero neighbors’

Dec 21, 2012

S-Oil Corp. held the “2012 Hero Neighbors Award” ceremony in Seoul on Friday to congratulate 19 winners.The oil refinery company has annually selected “hero neighbors” who it judged made noble sacrifices and showed great courage to help their fellow citizens in danger.The company selected the 19 winners at the recommendation of the National Police Agency and the Ministry of Health and Welfare and by deliberation of a panel of experts.The winners, who won a trophy and 20 million won each, include
Banks need to take part in reviving economy: BOK chief

Dec 21, 2012

South Korean banks should take the initiative in boosting the slumping local economy as political uncertainties have been lifted with the presidential election now wrapped up, the central bank chief said Friday. "Lenders need to step up efforts to bring the economy back on track," Bank of Korea (BOK) Gov. Kim Choong-soo told a meeting with heads of major banks. "Four major world powers tied to the Korean Peninsula, including Japan and China, are at a new phase in their leadership." His rema