The Korea Herald

Ban ‘killer robots,’ rights group urges

TechnologyNov 20, 2012

Hollywood-style robots able to shoot people without permission from their human handlers are a real possibility and must be banned before governments start deploying them, campaigners warned Monday.The report “Losing Humanity” -- issued by Human Rights Watch and Harvard Law School‘s International Human Rights Clinic -- raised the alarm over the ethics of the looming technology.Calling them “killer robots,” the report urged “an international treaty that would absolutely prohibit the development,
S. Korea's household spending on food hits 11-year high

Nov 20, 2012

Spending by South Korean households on food and other groceries surged to the highest level in 11 years in the first half of this year amid a prolonged economic slump, data showed Tuesday.According to the data released by the Bank of Korea, the country's total household spending rose 4.7 percent from a year earlier to nearly 324 trillion won ($298 billion) in the January-June period.Of the total, the amount spent on food and non-alcoholic beverages came to 44 trillion won, up 6.3 percent from th
Korea, China, Japan to declare launch of 3-way FTA talks

Nov 19, 2012

PHNOM PENH (Yonhap News) -- South Korea, China and Japan plan to declare the official start of negotiations to forge a three-way free trade pact when their trade ministers meet on the sidelines of a regional summit in Cambodia this week, officials said Monday.In May, the three Asian economic powers agreed to launch talks within this year toward a free trade deal. However, the prospect of negotiations was later thrown into doubt when territorial and sovereignty spats flared anew among the three h
Dongbu Insurance pays highest starting salary

TechnologyNov 19, 2012

Dongbu Insurance Co. pays the highest annual salaries to first-year employees, beating the former best-paying company Samsung Fire and Marine Insurance Co., according to news reports. Unlike the public conception that Samsung affiliate companies offer the highest annual starting salaries, Samsung Fire and Marine Insurance Co. ranked No. 3 despite its No. 1 performance in business Yonhap News said. Before tax reduction, the annual salaries for first-year employees with bachelor’s degrees was the
Naro space rocket launch likely on Nov. 29

Nov 19, 2012

South Korea will likely launch a space rocket next Thursday, the government said Monday, two days after the arrival of a replacement for a defective part in the rocket partly built by Russia.“When considering the time needed to thoroughly examine the new part and prepare for a launch, Nov. 29 is technically the most suitable for a third launch of the Naro rocket,” the Ministry of Education, Science and Technology said in a press release.The ministry added the Launch Preparation Committee will be
Samsung files suit against LG’s patents on OLED

Nov 19, 2012

Samsung Electronics Co. of South Korea has filed a lawsuit against LG Display Co., the world’s No. 2 maker of liquid crystal displays, seeking the invalidation of some of the latter’s patents on organic light-emitting diode panel technologies, company officials said Monday.In the suit filed with a local intellectual property tribunal, Samsung claimed that seven patents held by LG Display are invalid as they lack innovation.In September this year, LG Display filed a suit against tech giant Samsun
LS Cable & System wins $435m order from Qatar

Nov 19, 2012

LS Cable & System, a leading South Korean wire and cable maker, said Monday it has signed a $435 million deal to build a submarine power cable in Qatar.Under the deal with Qatar Petroleum, the Gulf state’s state-run energy company, LS Cable & System will install 200 kilometers of 132 kV high-voltage power cable to connect Ras Laffan Industrial City, about 80 kilometers north of Qatar’s capital of Doha, to Halul Island.The South Korean cable maker won the turnkey project by beating a consortium o
KT&G to launch Tonino Lamborghini overseas

TechnologyNov 19, 2012

The nation’s best-selling tobacco manufacturer KT&G Corp. will export 300,000 packs of its premium tobacco brand “Tonino Lamborghini” to Hong Kong by the end of November. KT&G has already sold “Tonino Lamborghini” in Chinese duty-free shops since September, with its first import order at 488,000 packs. China and Hong Kong together form the largest, most competitive tobacco market in the world, the company said. “From the beginning, Tonino Lamborghini was meant to be launched worldwide,” a KT&G o
Shares gain on eased fiscal cliff woes

Nov 19, 2012

South Korean stocks closed 0.93 percent higher Monday as waned fear over the U.S. fiscal cliff whetted investor appetite, analysts said. The local currency gathered ground against the U.S. dollar. The Korea Composite Stock Price Index rose 17.27 points to finish at 1,878.10. Trading volume was light at 345.7 million shares worth 3.20 trillion won ($2.93 billion) with advancers outstripping decliners 600 to 236. “Talks between President Obama and the Congress over the fiscal cliff last week refle
Law change lets KAMCO manage Ssangyong E&C

IndustryNov 19, 2012

Ssangyong Engineering & Construction will continue to operate under the government after the state-run Korea Asset Management Corp. failed several times to find a new owner for the ailing firm.As ministers agreed on a law revision on assets belonging to the state at a recent Cabinet meeting, the government is entitled to own Ssangyong E&C over the coming years even if the sale process led by KAMCO fails again.Under the initial law, KAMCO was banned from holding its stake in Ssangyong E&C after 2
Households’ financial soundness worsens: data

Nov 19, 2012

The financial health of South Korean households has deteriorated for a third consecutive year, with the default rate in the low-rated group rising fast amid an economic slowdown, data showed Monday. An index measuring households’ credit soundness came to 99.73 in the January-June period, compared with 101.12 and 100.49 tallied in 2010 and 2011, respectively, according to the Korea Credit Bureau, a local credit appraiser. The assessment of household’s financial health by the KCB is based on relat
Korean Air to expand aerospace business

IndustryNov 19, 2012

Nation’s flag carrier seeks synergy with potential acquisition of Korea Aerospace
Hyundai Motor matches BMW for profitability

IndustryNov 19, 2012

Hyundai Motor saw its profitability match the level of BMW, far outperforming several major automakers such as Volkswagen and General Motors.Hyundai Motor’s ratio of operating profit to revenue in the vehicle sector came to 10.91 percent during the third quarter, which is nearly equivalent to the 10.94 percent of BMW.Few carmakers are enjoying a double-digit figure, and Volkswagen and GM recorded below 7 percent.Market insiders say it is noteworthy that Hyundai Motor, whose main products are aim
‘Less is more’ is Puma Korea’s key strategy

IndustryNov 19, 2012

General manager says will focus on footwear first to win back teen consumers
Unfamiliar scents open up purses

IndustryNov 19, 2012

Sales of imported premium perfumes soar despite economic slowdown