The Korea Herald

KT ready for NFC globalization

IndustryFeb 28, 2012

Firm jointly features NFC roaming coupon service with DoCoMo in BarcelonaKT Corp. announced Tuesday that it will launch the near field communication roaming coupon service for the first time together with Japan’s NTT DoCoMo beginning in April.Demonstrating the NFC coupon service at the Mobile World Congress in Barcelona, the firm said owners of its NFC mobile phones will be able to download discount coupons by placing their handsets on smart posters or reading the QR codes displayed at the airpo
Conglomerates encroach on SME biz areas: report

Feb 28, 2012

Korea’s large family-owned conglomerates encroached on business areas fit for small and medium enterprises, a report by the country’s corporate watchdog said Tuesday.The Fair Trade Commission report showed 74 affiliates of 22 conglomerates doing business in such areas as retails, import and distribution, and so-called maintenance, repair and operations.It said of these companies, 17 were owned or managed by the children of the business groups such as Samsung, Lotte and Shinsegae.The antitrust co
iPad 3 price hike is rumored

TechnologyFeb 28, 2012

SAN FRANCISCO (UPI) -- The upcoming iPad 3 -- expected to be announced in a little more than a week-- could carry a $70-$80 price hike over its iPad 2 predecessor, analysts say.The MacRumors Web site posted an image Monday of a purported pricing sheet found on the popular Chinese microblogging site
SK Telecom chief urges payment for network use

IndustryFeb 28, 2012

BARCELONA, Spain ― SK Telecom president Ha Sung-min on Monday made clear his opposition to companies that gain profits from network use but refuse to share the cost of the growing traffic burden with network providers. It was the first time that the head of the nation’s largest telecom operator had expressed his opinion openly on the widening disputes over network neutrality. “The surging network traffic was one of the concerns raised by global telecom carriers during a board members’ meeting of
Big Brazilian firms setting sights on Korean bourse

Feb 28, 2012

Several big-cap Brazilian petrochemical makers, resource developers and food companies are seeking to list their shares on the Korean bourse in a bid to tap a new funding source, market watchers said Tuesday.Brazilian companies setting sights on the South Korean stock market include Braskem, the largest petrochemical company in the Americas, and Brasilfoods, the world‘s third-largest meat processor.The Brazilian companies have been sounding out the possibility of share listings on the Korea Exch
S. Korea posts current account deficit of $770 mln in January

Feb 28, 2012

South Korea posted a current account deficit in January for the first time in two years as exports slumped amid the eurozone debt crisis, the central bank said Tuesday.The current account deficit reached $770 million last month, shifting from a surplus of $2.81 billion the previous month, according
Elder sister sues Samsung chairman over inheritance

Feb 28, 2012

The elder sister of Samsung Electronics Co. chairman Lee Kun-hee has filed an inheritance suit against her brother, demanding some 190 billion won ($169million) in shares left by their late father, Samsung Group founder Lee Byung-chull, a law firm said Tuesday.The move comes two weeks after Lee Kun-hee, 70, was sued on similar grounds by his eldest brother Lee Maeng-hee, who demanded some 710 billion won in shares and cash.The sister, Lee Sook-hee, filed the suit with the Seoul Central District
Korea, China, Japan to meet on investment

Feb 27, 2012

Korea, China and Japan will hold a meeting this week for a three-way accord aimed at promoting corporate direct investment, Seoul’s Trade Ministry said Monday.The gathering will be held in Tokyo from Tuesday to Thursday, the ministry said.The three nations have been negotiating the trilateral investment treaty since 2007 and the upcoming round of talks may be the last one to finalize the terms of the accord, officials said.The pact may be signed by the leaders of the three nations in May when th
Pension fund’s investment return tumbles in 2011

Feb 27, 2012

Korea’s national pension fund saw its investment yield tumble last year as the eurozone debt crisis and the global economic downturn increased market instability, it operator said Monday.The National Pension Service, the country’s largest stock investor, said it earned around 7.67 trillion won ($6.8 billion) last year, or a 2.31 percent investment return. That compares with a 10.39 percent return in 2010 and a 10.41 yield in 2009.The NPS said the detailed figures on its portfolio investment will
Linked workshop for sales professionals

Feb 27, 2012

Linked Seoul, a business networking community, plans to hold a hands-on workshop in Seoul on March 6 for salespeople.The seminar is designed to help salespeople apply a variety of tools and techniques by using practical skill-building exercises.The workshop will be at the Renaissance Hotel’s Orchid Room in southern Seoul from 7-9 p.m. Attendance is 25,000 won and it will start with a networking session before the workshop. More information can be found at www.linkedseoul.org.
KFDA commissioner to discuss policy direction

Feb 27, 2012

Commissioner Lee Hee-sung of the Korea Food and Drug Administration will speak about the government’s new policy at a luncheon meeting on Feb. 29 organized by the European Union Chamber of Commerce in Korea.The KFDA is out to enhance preventive risk management systems, tighten safety management from raw materials to the final product, support competitive new industries, and reform regulations to promote autonomy and fairness.Cost for the luncheon is 100,000 won. To reserve a seat, contact Jeon H
AMCHAM to examine IPR during luncheon

Feb 27, 2012

The American Chamber of Commerce will hold a luncheon meeting on March 7 to discuss the new intellectual property rights in a free trade era.Lim Won-sun, director general for Korea Intellectual Property Office, is scheduled to speak at AMCHAM’s IPR committee meeting regarding new changes to the copyright law. He was in charge of the copyright law amendments for the implementation of the Korea-U.S. and EU free trade agreements.Enquiries or to register, contact AMCHAM at (02) 6201-2200, e-mail amc
Lecture on digital marketing in China

Feb 27, 2012

The China Europe International Business School’s Seoul office is hosting CEIBS dean professor John Quelch to deliver his newly crafted presentation on his latest passion, digital marketing in China, this week.Drawing upon his quarter of a century of experience at Harvard Business School and three years as Dean of the London Business School, Quelch will touch on the impact of such revolutionary trends as China’s growing hunger for online gaming, micro-blogging, Weibo (Chinese Twitter) and virtual
ING art exhibition displays nature’s elements

Feb 27, 2012

The ING N.V. Seoul branch is running their annual in-house art exhibition project with the goal to enrich the cultural experience of their clients and employees and to promote young local talent.The project introduces artists whose works reflect a modern take on the traditional Korean art forms and concepts.This year’s program is titled “Naturally Beautiful: Earth, Wind, Fire and Water,” the three elements that is represented on the Korean flag.The works are on display at the ING Seoul Branch of
Potential for Yeosu is in tourism: Italy

Feb 27, 2012

Italy’s commissioner for Yeosu seemed impressed with the environment around Yeosu, the site for Expo 2012, but expressed some concern that the region was not living up to its full potential.“Tourism can give a helping hand providing it is sustainable, that it is not this cynical utilization or cementification of the coast which sometimes occurs,” Claudio Moreno told The Korea Herald.Italy is a peninsular country, like Korea, with a highly developed northern region and a lesser developed southern