The Korea Herald

Mobile game spices up working women’s lives

TechnologyDec 5, 2012

As the smartphone has become a necessity regardless of gender, mobile games have successfully pegged the female gaming culture now prevalent among working women. “In the past when online games were dominant, excellent female gamers would be stigmatized as game-addicted hermits,” said NHN Hangame spokesman Hwang Hyun-don, saying that female gamers had unfairly suffered from a negative, androgynous image. “Nowadays, all men and women can play games without damaging their personal image and style.”
Samsung, Apple on edge over U.S. ruling

IndustryDec 5, 2012

Reducing damages seems most likely, appeals also expected
Seoul shares close 0.61 pct higher on foreign buying

Dec 5, 2012

South Korean stocks closed 0.61 percent higher Wednesday, boosted by foreign buying, despite persistent U.S. budget woes, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) finished up 11.86 points to 1,947.04. Trading volume was moderate at 481.5 million shares worth 4.03 trillion won ($3.73 billion) with losers outpacing gainers 442 to 363. "The main index recently showed a modest relief rally after an urgent Greek bailout i
Samsung names Lee vice chairman in patriarch’s succession plan

IndustryDec 5, 2012

Samsung Electronics Co. promoted Lee Jae Yong to vice chairman, putting him a step closer to succeeding his father as leader of the world’s biggest maker of televisions and mobile phones. The elevation from President and Chief Operating Officer is part of the executive leadership change to lead Samsung’s future growth, the Suwon, South Korea-based company said in an e-mailed statement today. The appointment puts the 44-year-old Lee in line to take over from his billionaire father Lee Kun Hee, wh
KOSPI likely to climb to as high as 2,380 next year: IBs

IndustryDec 5, 2012

Foreign investment banks (IBs) are predicting South Korea's key stock index could rise as much as to the 2,380 mark next year on the back of improved economic conditions here and abroad, a report showed Wednesday. JP Morgan suggested the benchmark KOSPI will move within a range of 2,090-2,380 in 2013 as monetary easing and an increase in exports will likely fuel growth, according to the report by the Korea Center for International Finance (KCIF). As of Dec. 4, the main index has moved up 6 perce
Bank of Korea buys more gold in Nov.

Dec 5, 2012

South Korea's central bank said Wednesday it increased its holdings of gold in November, the second time this year, in a bid to diversify its portfolio of foreign exchange reserves.South Korea purchased 14 tons of gold, raising the country's gold holdings to 84.4 tons valued at $3.76 billion at the end of November, according to the Bank of Korea (BOK).The move marked the BOK's fourth purchase of the precious metal since the bank bought it in July last year for the first time in 13 years. It also
BOK head voices hopes for permanent Korea-China swap line

Dec 5, 2012

South Korea's top central banker on Wednesday expressed hopes that the move by Korea and China to boost the use of their currencies for trade settlement would dispel talks over whether to extend the existing currency swap line.Korea and China have agreed to use their bilateral currency swap line valued at 360 billion yuan ($57.8 billion) to bolster the use of the won and the yuan for trade settlement.Bank of Korea (BOK) Gov. Kim Choong-soo said in a meeting with experts from foreign investment b
LG eyes bigger U.S. share with Lowe’s tie-up

Dec 4, 2012

South Korean home appliance giant LG Electronics Inc. said Tuesday it has signed an agreement with U.S. home appliance retailer Lowe’s as part of efforts to expand its reach into the world’s largest market.Under the agreement, LG will supply its home appliance products, including refrigerators and washers, to Lowe’s nationwide chains and online store starting next year, according to LG Electronics.“More U.S. consumers will be able to experience LG’s high-efficient home appliance products,” said
Galaxy S3 sweeps smartphone awards

Dec 4, 2012

The Galaxy S3, Samsung Electronics Co.’s flagship smartphone, is sweeping year-end awards given to the “smartphone of the year” by overseas IT media, market watchers said Tuesday.The Samsung smartphone recently grabbed the “best mobile phone of the year” award from British tech media site Pocket-lint. It also received the “product of the year” prize in British IT media V3’s annual technology awards.The South Korean tech giant’s Galaxy Note and Galaxy Note 10.1 were also touted as the best busine
Watchdog removes 29 firms from watch list

Dec 4, 2012

South Korea’s antitrust watchdog said Tuesday that it has taken 29 companies off the list that limits mutual investments and loan guarantees.The Fair Trade Commission said the number of corporate affiliates on the list stood at 1,802 of 62 business groups, down from 1,831 tallied in the previous month.The decline comes mostly from the exclusion of Eugene from the business groups subject to the restraints as the assets of its affiliates fell to 2.45 trillion won ($2.26 billion) following the sale
Shares down on weak U.S. data

Dec 4, 2012

South Korean stocks finished 0.25 percent lower on Tuesday as weak U.S. manufacturing data added onto investor concerns over budget issues in the world’s largest economy, analysts said. The local currency slipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 4.84 points to 1,935.18. Trading volume was light at 280.7 million shares worth 2.8 trillion won ($2.6 billion), with decliners outnumbering gainers 429 to 366.“Investors were disappointed with the weaker-than-
Hyundai-Kia set record November sales in U.S.

IndustryDec 4, 2012

Hyundai and Kia, which stumbled through a mileage overstatement scandal in late October, did not see any major consumer fallout in North America last month, posting record November sales in the U.S.Hyundai Motor said Tuesday that U.S. sales rose 8 percent to 53,487 vehicles last month, while its affiliate Kia Motors sold 41,055 units, up 11 percent over a year earlier. Amid an enhanced marketing offensive by Japanese carmakers, however, their combined market share fell slightly last month to 8.3
IBs expect Korea to grow 2-3% in 2013

Dec 4, 2012

Global investment banks forecast 8% growth for China, 1.8% for U.S, -0.2% for eurozone
[Newsmaker] 2 nuke reactors open amid protest, concerns

Dec 4, 2012

A belated ceremony to celebrate the completion of the Shin-Gori nuclear power plant units 1 and 2 was held near the site, located in Gijang, Busan, on Tuesday. Despite the completion of unit 1 in February 2011 and unit 2 in July this year, the ceremony had been delayed due to opposition against operations by local citizens and safety concerns raised by a recent controversy over the usage of substandard parts in other nuclear reactors.The two newly built nuclear plants each with a capacity of 1 m
Korea, China agree to tap swap line for trade settlement

Dec 4, 2012

South Korea’s central bank said Tuesday it has agreed with its Chinese counterpart to use the existing bilateral currency swap line in boosting trade settlement in the two countries’ currencies.In October of last year, South Korea and China agreed to double their won-yuan swap line to 360 billion yuan ($57.8 billion) in a bid to secure foreign exchange liquidity.The Bank of Korea said it will lend money to commercial banks by tapping the currency swap and local firms will be able to use the fund