The Korea Herald

Taking the big cat for a stroll

TransportDec 2, 2012

The Korea Herald, in cooperation with carmakers, offers a test-driving experience to executive officials at Korean or multinational companies here. The opinion above is the author’s own. For any inquiry into this column, please contact jylee@heraldcorp.com. ― Ed.There’s nothing like a cat. Graceful, intuitive, powerful and proud ― the cat I am describing is the new Jaguar XJ, a 5.0-liter V8 luxury car that I had the pleasure of experiencing both as a passenger and as a driver for three days.My f
Hyundai Motor grapples to satisfy BRIC tastes

TransportDec 2, 2012

More localized vehicles expected to debut in 4 countries in 2013
Toyota leads Japanese auto firms in cutting China output

TransportDec 2, 2012

Toyota Motor Corp. production in China fell the most in at least a decade, leading a slump for Japanese automakers, after a sovereignty dispute over uninhabited islets triggered demonstrations and deterred buyers. Japan’s biggest carmaker said today China output in October tumbled 61 percent to 30,591 units in October. Nissan Motor Co. reported production fell 44 percent last month, the biggest decline based on company data stretching back to 2009, and Honda Motor Co. said output tumbled 54 perc
Default-prone household debts reach 25.6 tln won: data

Dec 2, 2012

The amount of mortgages in South Korea at risk of turning sour reached 25.6 trillion won ($236.3million) in September, with the majority being owed to non-banking firms that charge higher interest rates, the financial regulator said Sunday.The figure represents 230,000 out of a total of 5.35 million mortgage borrowers here, accounting for 4.8 percent of the total home-backed loans extended by local financial institutions, according to the Financial Supervisory Service (FSS). "The percentage itse
S. Korea's trade surplus widens to $4.48 bln in Nov.

Dec 1, 2012

South Korea's trade surplus widened in November from the previous month as exports posted positive growth on the back of steady global demand, the government said Saturday.The country's trade surplus came to $4.48 billion in November, compared with the surplus of $3.7 billion the previous month, according to the Ministry of Knowledge Economy. The country's exports grew 3.9 percent from the same month last year to $47.79 billion with imports gaining 0.7 percent on-year to $43.32 billion.The expor
Samsung, Apple gain in U.S. mobile market

IndustryDec 1, 2012

Samsung extended its lead as the top mobile phone maker in the U.S. market and Apple moved into second place, an industry tracker said Friday.A survey by comScore showed that in the three-month period ending in October, South Korea's Samsung was the top manufacturer with 26.3 percent market share, up from 25.6 percent in the prior period.Apple, which sells only smartphones, moved into second place in the U.S. market for the first time, with a 17.8 percent market share, up 1.5 percentage points.
Korea eases visa issuance for foreign buyers

Nov 30, 2012

The South Korean government has eased visa regulations on foreign buyers in order to help local small and mid-size firms do business and boost foreign trade, a trade association said Friday.According to the Korea International Trade Association, the Justice Ministry will review a list of local firms made by KITA and grant visas within three days to foreign businesspeople who get invitations from the firms after proper identification checks.The fast-track visa issuance system started last month a
Kia’s pro cee’d receives iF design award

TransportNov 30, 2012

Kia Motors said on Friday that it received the prestigious iF design award for its three-door coupe pro cee’d.The company said the compact car won in the “Transportation Design” category.Company officials said the award proved that the car, to be sold in the second half of next year, was recognized globally for its outstanding design. The accolade is the fifth iF design award for Kia. “We are very proud to receive this iF product design award for the pro cee’d, which we owe in particular to our
Shares inch down on U.S. budget talks

Nov 30, 2012

South Korean stocks slipped 0.1 percent Friday as investors took a wait-and-see stance to watch U.S. budget talks, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index dipped 1.95 points to 1,932.9. Trading volume was moderate at 330.3 million shares worth 4.43 trillion won ($4.09 billion), with gainers outnumbering decliners 410 to 367.“The fiscal cliff woes have widely dominated the stock market and investors want clearer signs of U.S.
Shares inch down on U.S. budget talks

Nov 30, 2012

South Korean stocks slipped 0.1 percent Friday as investors took a wait-and-see stance to watch U.S. budget talks, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index dipped 1.95 points to 1,932.9. Trading volume was moderate at 330.3 million shares worth 4.43 trillion won ($4.09 billion), with gainers outnumbering decliners 410 to 367.“The fiscal cliff woes have widely dominated the stock market and investors want clearer signs of U.S.
Lee urges rise to new challenge

IndustryNov 30, 2012

Samsung chairman calls for fresh challengeGroup celebrates Lee’s 25-year leadership Samsung Electronics chairman Lee Kun-hee pledged Friday to push for another round of innovation at Samsung Group.“I vowed to create a new history for Samsung. As there are still long ways to go, we have to launch fresh challenges,” he said in a video message delivered to his staff during the group’s ceremony to celebrate Lee’s 25th anniversary as chairman.“By conducting another innovative mode in the group, let’s
Businesses pledge more jobs, investment

Nov 30, 2012

KCCI, FKI and KITA issue resolution to tide over economic slump
Kolon names its 1st female CEO

IndustryNov 30, 2012

Kolon Group, the nation’s 30th-largest conglomerate, appointed its first female chief executive officer when it carried out a major reshuffle of executives of its affiliates on Friday.Group officials said Lee Soo-young, 44, senior vice president of Kolon Water & Energy, was named to head the company. It is the first time that Kolon will have a female CEO in its 55-year group history.Lee, who entered the Kolon Group in 2003 as a senior manager for the Wellness TF, has been on the fast track in cl
Apple’s iPhone 5 to hit Korea next week

Nov 30, 2012

Korea’s two biggest mobile carriers ― SK Telecom Co. and KT Corp. ― said Friday they plan to release the long-awaited iPhone 5 in the local market next week. SK Telecom and KT tweeted they plan to start receiving pre-orders for the Apple device starting at 10 p.m. and officially launch the phone on Dec. 7.The move comes nearly three months after the U.S. smartphone maker, which is facing off against Samsung Electronics Co. in a global patent war, unveiled its first smartphone that runs on the fo
Mercedes-Benz Korea CEO dies in Germany

IndustryNov 30, 2012

Mercedes-Benz Korea CEO Thomas Urbach died on Thursday in Germany, company spokespeople said Friday.The company did not reveal the cause of death of the 50-year-old German businessman, but Yonhap News, quoting unnamed industry sources, reported that the luxury car chief, who had suffered from depression for years, killed himself.Urbach was in Germany to visit the automaker’s headquarters in Stuttgart.The CEO had been scheduled to hold a press conference on Dec. 11 in Seoul to make public the Kor