The Korea Herald

10 employees chosen for lunch with Samsung boss

IndustryAug 23, 2012

Samsung Electronics chairman Lee Kun-hee will hold a luncheon with 10 company employees on Sept. 4 in a bid to strengthen communication channels with its staff.According to Samsung Group, a total of five male and five female employees at Samsung affiliates were chosen to join the luncheon conducted for the first time.“We reviewed the person’s gender, company and rank in a comprehensive manner to develop the final list,” said a Samsung official. “Rather than focusing on the unique applications, w
KPMA picks Dong-A’s Kim as new board chairman

Aug 23, 2012

Korea Pharmaceutical Manufacturers Association picked Kim Won-bae, CEO of Dong-A Pharm, as its 10th chairman of the board during a meeting on Wednesday.Kim graduated from Seoul National University and has worked at Dong-A Pharm since 1974. He served as head of the research team of the company and became its CEO. KPMA also elected 12 new vice chairs who are either CEOs or senior executive vice presidents of pharmacy companies, such as Kim Jung-woo, president of Chong Kun Dang Pharm.Kim replaced Y
Google online maps embark on Arctic adventure

TechnologyAug 23, 2012

Google set out Wednesday to take users of its free online mapping service on an Arctic adventure with help from an Inuit community in the Canadian tundra.Prime Minister Stephen Harper joined the effort as the Internet titan's Street View team arrived in the hamlet of Cambridge Bay in the Northwest Passage for one of its most remote projects to date."The goal of this project is to share with a glob
Much-anticipated major update of Diablo 3 is under way

TechnologyAug 23, 2012

The newest update of Diablo 3 is under way as of Thursday 11 a.m., drawing much anticipation from Korean PC gamers.Blizzard Entertainment, the developer and distributor of Diablo 3, announced the 1.0.4 update plan last week, which will upgrade the game system and its content in a way that reshapes many of the game play rules. According to Jay Wilson, the game’s director, the new game system called “Paragon System” will allow players to enjoy playing after level 60 to reach additional 100. “New L
Employment rate of college graduates up slightly

IndustryAug 23, 2012

The average employment rate for new college graduates has risen slightly in the past year with those from two-year vocational colleges or with medical majors showing a higher success rate, the education ministry said Thursday.According to a survey by the ministry of 498,833 people who finished college or graduate schools in August last year and in February this year, 59.5 percent had landed a job at home or abroad.This year‘s figure was higher than last year’s 58.6 percent, though the ministry c
Korea awards first damage from EU FTA

Aug 23, 2012

South Korea has recognized damages from the country's bilateral free trade agreement (FTA) with the European Union (EU) for the first time since the trade deal went into effect last year, the government said Thursday.The decision came at a meeting on Wednesday, in which the National Trade Commission accepted a claim from a local pork processing company that it suffered damages from the growing mar
Seoul shares open lower on tech losses

Aug 23, 2012

South Korean stocks got off to a weak start Thursday led by losses in techs and shipbuilders, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 5.83 points, or 0.3 percent, to 1,929.36 in the first 15 minutes of trading.Tech heavyweight Samsung Electronics retreated 1.03 percent and leading shipyard Hyundai Heavy Industries fell 0.82 percent.The local currency was trading
Korean firms' July direct financing up 9.5 percent

Aug 23, 2012

Direct financing by South Korean companies rose 9.5 percent on-month in July, led by an increase in initial public offerings (IPO) and corporate bond issuances, the financial regulator said Thursday. Local companies raised 11.9 trillion won ($10.5 billion) last month by issuing stocks and bonds, compared with 10.8 trillion won a month earlier, according to the Financial Supervisory Service (FSS).
Seoul-Tokyo tension affects bilateral investments little

IndustryAug 22, 2012

Japanese purchase more Korean stocks since Lee’s visit to DokdoThe heightened diplomatic tension between Korea and Japan had little negative impact on bilateral investment and trade so far, data showed.Moreover, Japanese investors were net buyers on Korea’s main bourse for the four trading sessions after President Lee Myung-bak visited Dokdo islets on Aug. 10.“Japanese investors’ purchase of stocks and bonds surpassed selling over the sessions last week,” said an official of the Financial Superv
G-market expands popular social contribution program

IndustryAug 22, 2012

Global Volunteer Team ranks most sought-after program, shoppers donate over 1.51 billion wonG-market, one of South Korea’s biggest online shopping malls, is also leading the electronic commerce market in terms of social contribution. EBay Korea, which acquired G-market in 2009, said that the online shopping mall spent 2.7 billion won ($2.4 million) in social contributions last year, which took up about 4.1 percent of the year’s operating profit and 0.6 percent of sales. The proportion is about 2
LS Group sends volunteers to Vietnam

Aug 22, 2012

LS Group said it has dispatched university student volunteers to Xa Yen Phuong, near Hanoi, Vietnam, as part of its social contribution activities.The volunteers, comprising LS Group executives and employees and 20 students, will build a playground, repair school facilities and teach children in the Southeastern Asian country until this week.LS group has promoted the program in cooperation with Copion, a non-governmental organization specializing in dispatching overseas volunteers. (dunhil-mint@
Daesang gives blood donor cards to the KACLC

Aug 22, 2012

Daesang Holdings, a food company, said that it has delivered 400 blood donation cards to the Korea Association For Children with Leukemia and Cancer. The cards will be used on medical treatments for youths suffering from leukemia and child cancer, company officials said.The company employees voluntarily participate in the frequent blood donation program, which is a part of Daesang’s social contribution campaign called “More Sharing, More Happiness.”Since 2006, Daesang has been constantly holding
Plans for more power plants delayed or scrapped

Aug 22, 2012

The construction of 10 nuclear power plants and one tidal power plant scheduled to be completed between 2013 and 2027 has been either put off or canceled, plant operators said, fanning concerns about power shortages.The 11 plants, if completed, altogether could have produced about 12.7 million kilowatts of electricity, which accounts for about 6.4 percent of the nation’s power supply.“We have postponed or canceled some plant construction deals because the government has become more careful about
Seoul shares slip 0.41% on lack of momentum

Aug 22, 2012

South Korean stocks edged down 0.41 percent Wednesday ahead of major events in Europe and the United States in the coming weeks, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 8.03 point to close at 1,935.19. Trading volume was moderate at 418.4 million shares worth 4.04 trillion won ($3.56 billion), with losers outpacing winners 475 to 332.“There will be no big liquidity supply, corporate earnings or political events in the ne
LG unveils ultra-def 3-D TV in Korea

IndustryAug 22, 2012

LG Electronics announced the launch of its new 84-inch ultra-definition 3-D television on Wednesday, with it scheduled to roll out in the local market this weekend.About 70 units of the TV priced at around 25 million won ($22,000) have already been sold through pre-orders, according to Kwon Il-geun, senior vice president of LG’s TV R&D Laboratory.The new UD TV, showcased in January at the Consumer Electronics Show in Las Vegas for the first time, boasts four times the resolution of existing full