The Korea Herald

Microsoft, Apple tablets have most profit margins

TechnologyNov 6, 2012

Research firm IHS says Microsoft and Apple are garnering the highest profit margins for their tablets, followed to a lesser extent by Google and then Amazon.Microsoft Corp.‘s first self-made tablet, the Surface, costs about $267 in parts and labor when excluding its optional keyboard cover. It went on sale Oct. 26 priced at $499, for a profit margin of around 46 percent. Surface comes with a 10.6-inch (26.9-centimeter) screen measured diagonally, and can access the Internet only through Wi-Fi. T
S. Korea to gradually recover growth next year: IBs

Nov 6, 2012

Foreign investment banks (IBs) expect the South Korean economy to see its growth improve at a gradual pace next year, helped by global stimuli and the recovery of domestic demand, a report showed Tuesday.Morgan Stanley projected the monetary easing by the United States and China will improve global economic conditions, benefiting South Korea's exports, a main driver of the country's growth, according to a report by the Korea Center for International Finance.South Korea grew 0.2 percent on-quarte
Seoul shares start higher ahead of U.S. election

Nov 6, 2012

South Korean stocks opened higher on Tuesday as policy uncertainties abated ahead of the imminent U.S. presidential vote, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.78 points, or 0.2 percent, to trade at 1912.00 in the first 15 minutes of trading.Carmakers led the gain, with No.1 player Hyundai Motor moving up 1.75 percent, while its smaller affiliate Kia Motors gained 1.24 percent. Top auto parts maker Hyundai Mobis climbed 1.16 percent. U.S. stocks ended hig
Big 4 grab 66.4% of import car market

IndustryNov 5, 2012

Amid the rapid growth of the import car industry, the sales gap between the top four German brands and other players widened over the past year, according to the October data of a lobby group for foreign automakers.The four major German carmakers ― BMW, Mercedes-Benz, Volkswagen and Audi ― captured 66.4 percent of the local import automobile market last month among 24 members of the Korea Automobile Importers & Distributors Association.The top four brands’ combined market share climbed 5.3 perce
Korea’s foreign reserves hit new high in October

Nov 5, 2012

South Korea’s foreign reserves hit a new high in October led by high investment profits, according to the nation’s central bank.The Bank of Korea announced on Monday that the nation’s foreign reserves reached $323.46 billion in October, which is an increase of $1.45 billion compared to the previous month. Foreign reserves marked $316.84 billion in April and $316.88 billion in August. “The growth of investment profits brought up the reserves despite the marginal fall of the dollar conversion valu
KT’s net profit jumps 45.6 percent in Q3

Nov 5, 2012

South Korean telecom giant KT Corp. on Monday reported a 45.6 percent surge in its third-quarter earnings, driven by a profit increase in its wireless business and affiliates such as BC Card.Net profit came to 372.3 billion won ($340.9 million), compared with 255.7 billion won a year ago, the No. 2 mobile carrier and top fixed-line operator said in a regulatory filing. Sales increased 30.6 percent on-year to 6.5 trillion won over the cited period, and operating profit gained 4.3 percent to 538.8
KEB 2X cardholders surpass 500,000

IndustryNov 5, 2012

The number of holders of Korea Exchange Bank’s 2X card exceeded the 500,000 mark just five months after its launch, KEB announced Monday. The 2X Card appeals to three different customer segments based on age and lifestyle, and accordingly, comes in three types: Alpha, Beta, and Gamma. Customers using any of the three types of 2X Card for six consecutive months will see their benefits double. To celebrate the occasion, KEB unrolled a series of promotional events to run through December. Customers
Samsung sees record monthly TV sales in U.S.

Nov 5, 2012

Samsung Electronics Co., the world’s top maker of smartphones, computer memory chips and flat-panel TVs, said Monday it sold a record 1.15 million TVs in the U.S. market in October.The monthly figure comes after Samsung broke the 1-million mark for the first time in October last year, the company said.Samsung attributed the rosy figure to enhanced marketing efforts for larger, premium TV models, such as the 75-inch ES9000 smart TV.Meanwhile, the sales data come as the global TV industry is under
Shares dip 0.55% on auto falls

Nov 5, 2012

South Korean stocks closed 0.55 percent lower on Monday as key automakers Hyundai Motor and Kia Motors tumbled after U.S. officials found they exaggerated the fuel efficiency of their latest models, analysts said. The local currency slipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 10.5 points to 1,908.22. Trading volume was light at 336 million shares worth 4.54 trillion won ($4.16 billion), with decliners outnumbering gainers 447 to 369.“Since Hyundai and Kia
Korea to allow launch of cooperatives from Dec.

Nov 5, 2012

South Korea will permit the launch of cooperatives starting next month, providing additional channels for people to start small businesses leaning toward democratic ownership and public interest, the Finance Ministry said Monday.A related law will go into effect on Dec. 1, and the central and municipal governments will immediately begin receiving applications and registrations for the launch of cooperatives, according to the ministry.Under the law, five people or more can start “general cooperat
Korea supports redevelopment of mines to secure minerals

Nov 5, 2012

JECHEON ― The Korean government is speeding up the reopening of closed mines that were shut due to lack of profitability, to re-build domestic supply channels for strategic minerals critical for manufacturing.The initiative to redevelop the mines was launched by the Ministry of Knowledge Economy in 2008. The drive is in line with the ministry’s strategy to increase mineral self-sufficiency. For this, the ministry also has increased investment in mineral development projects overseas. The ministr
FSC criticized for lax supervision of brokerages

Nov 5, 2012

Financial regulators were under criticism for their apparently negligent supervision of the brokerage industry as evidence of a group of securities firms’ interest rate-fixing was revealed by antitrust regulators.Last Sunday, 20 local securities firms were reprimanded by the Fair Trade Commission with fines amounting to a combined 19.2 billion won ($17.5 million) for colluding to fix rates on some “small-denomination bonds.”The antitrust regulator also filed a complaint with the prosecution agai
Hyundai rushes to respond to mileage errors

IndustryNov 5, 2012

Korean auto giant moves quickly to redress problem
Foreign investors turn net sellers of Korean stocks

Nov 5, 2012

Foreign investors turned net sellers of local stocks last month, stemming a two-month straight buying binge due largely to persisting global uncertainties, the financial regulator said Monday. Overseas investors dumped a net 1.1 trillion won ($1.0 billion) worth of local equities in October, the largest net selling since the 3.38 trillion won tallied in May, according to the Financial Supervisory Service. Foreigners had remained net buyers for the two previous months, snapping up a net 9.6 trill
Ford recalls small SUV Escape for sticking gas pedal

Nov 5, 2012

Ford Sales and Service Korea, the local importer and distributor of U.S. automaker Ford Motor Co., will voluntarily recall certain models of its small sport utility vehicle the Escape to fix sticking gas pedals that could cause crashes, the Seoul government said Monday.Subject to the recall, starting from Tuesday, are 687 units manufactured between April 19, 2001 and Dec. 12, 2004, according to the Ministry of Land, Transport and Maritime Affairs.The cruise control cables in the vehicles can get