The Korea Herald

New Park Hyatt general manager checks in

IndustryJan 9, 2012

The Park Hyatt Seoul has appointed Frederic Boulin as general manager of the hotel. “As the hotel’s new general manager, I will forge ahead with our partners and our talented, devoted team to bring out the unique luxury positioning of the Park Hyatt Seoul,” he said.Boulin has extensive experience in Asia, most notably as executive assistant manager of food and beverages at the Grand Hyatt Seoul in 2002, and with the Grand Hyatt Hong Kong and Shanghai working in the Food and Beverage Development
Consortium to develop Panama copper mine

IndustryJan 9, 2012

A South Korean consortium led by state-run Korea Resources Corp. said it will begin development of a Panama copper mine in the first half of this year.The announcement comes after Panama’s environmental protection agency approved development plans for the Cobre Panama mines, in Colon Province 120 kilometers west of Panama City, KORES said in a press release last week.It said the approved environment and social impact assessment comprehensively authorizes the building of roads, ports and a coal-f
Hyundai plastic plant to resume operations

IndustryJan 9, 2012

An engineering plastic plant that exploded and caused the death of three workers in August will go back on-line after undergoing repairs, Hyundai EP Co. said.The company said it has been repairing the destroyed polystyrene production facility in Ulsan, 414 kilometers southeast of Seoul, with the plant to be ready for operations by February.The facility is needed to make engineering plastic products.It said both in-house and outside safety reviews have been sought as part of its effort to restart
Hanjin Shipping aims to return to black

Jan 9, 2012

Hanjin Shipping Co., South Korea’s top container line, said that it will strive to swing back to the black in 2012 after suffering huge losses last year.The shipper is estimated to have logged a loss of over 800 billion won in 2011, hit by higher fuel costs and falling freight rates.During the fourth quarter of last year alone, Hanjin Shipping is projected to have suffered a loss of some 250 billion won.The shipper’s accumulated net loss and operating loss in the first three quarters of last yea
Korea to offer better biz environment for foreigners

Jan 9, 2012

South Korea will beef up efforts to provide a better business environment for foreign enterprises by “actively” reflecting their opinions in its policymaking process, the nation’s finance minister said Monday.“We will actively reflect the opinions of the EU Chamber of Commerce, and make redoubled efforts to improve areas such as investor protection and property rights registration,” Bahk Jae-wan told a meeting with European business people.Bahk promised to push ahead with measures to lower land
Korea, China, Japan to start FTA talks in H1: report

Jan 9, 2012

HONG KONG (Yonhap News) ― South Korea, China and Japan will likely start their first round of trilateral free trade negotiations during the first half of this year, a Chinese official said Monday, in a move expected to boost trade among the three export-driven countries. In December, the three countries held their final joint study meeting on the feasibility of a free trade agreement among them.“If there is no strong opposition from inside South Korea, talks on the China-South Korea-Japan FTA wi
Learning global mindset through fun

IndustryJan 9, 2012

To compliment English language learning, Vectis CEO Simon Bureau has released a 3-D digital compact disk teaching primary-school children in Korea in a comical way about their place in a future global world.“My message that I’m trying to drive to Korean mothers is that English is not enough, now they need to learn new skills to be global leaders,” he said.The former Canadian Chamber of Commerce chairman explained that today’s children must have three attributes to achieve a global mindset.Firstl
Germany benefits from Korea-EU FTA

Jan 9, 2012

Chamber advises SMEs to enter Korean marketGermany is benefiting from the Korea-EU FTA that went into effect in July as its exports to Korea are increasing, a top German chamber official said.“We have already seen some positive effects but not as spectacular as some people might have thought,” said Korean-German Chamber of Commerce and Industry Secretary General Jurgen Wohler.One reason for the not-so-spectacular expectations is the European debt crisis, which is hampering Korean exports to the
Global business innovation lecture

Jan 9, 2012

IE Business School is offering a free lecture and networking evening with as guest lecturer, the school’s chair of the Entrepreneurship Management Department.Pablo de Holan is a popular professor of strategy at IE Business School and will present the school’s 4th lecture in a series on global business innovations on Jan. 13 from 7 p.m. at the COEX Convention Center Hall C room 318 A in southern Seoul.Titled “The Giant Within: How Businesses Grow Thru Entrepreneurship and Innovation, A review of
German chamber holds Korean classes

Jan 9, 2012

The German Chamber of Commerce will offer Korean language lessons for all its members.The courses take place Jan. 11-March 28 every Wednesday except for holidays from 8:00 ― 9:30 a.m.Classes will be held in the German language by a qualified teacher, Park Hye-sook. The basic level course will be taught at the Korean-German Chamber of Commerce and Industry office in Hannam-dong, Seoul.Cost is 550,000 won for 12 sessions and includes beverages and learning materials. For more information or to reg
AMCHAM to hold foreign investment meeting

Jan 9, 2012

The American Chamber of Commerce in Korea will examine regulatory reform and foreign direct investment inducement and aftercare services during their first networking luncheon of the year next week, officials said.The meeting is scheduled to be held on Jan. 19 at the Grand Hyatt Hotel on Namsan. The luncheon includes a speech by Ahn Choong-yong, chairman of the Regulatory Reform Committee and foreign investment ombudsman at Korea Trade-Investment Promotion Agency.“The recent passing of the KORUS
New Park Hyatt GM checks in

IndustryJan 9, 2012

The Park Hyatt Seoul has appointed Frederic Boulin as general manager of the hotel. “As the hotel’s new general manager, I will forge ahead with our partners and our talented, devoted team to bring out the unique luxury positioning of the Park Hyatt Seoul,” he said.Boulin has extensive experience in Asia, most notably as executive assistant manager of food and beverages at the Grand Hyatt Seoul in 2002, and with the Grand Hyatt Hong Kong and Shanghai working in the Food and Beverage Development
Germany benefits from Korea-EU FTA

Jan 9, 2012

Chamber advises SMEs to enter Korean marketsGermany is benefiting from the Korea-EU FTA that went into effect in July as its exports to Korea are increasing, a top German chamber official said.“We have already seen some positive effects but not as spectacular as some people might have thought,” said Korean-German Chamber of Commerce and Industry Secretary General Jurgen Wohler.One reason for the not-so-spectacular expectations is the European debt crisis, which is hampering Korean exports to the
Koreans to hold off on spending for Seollal: poll

Jan 9, 2012

South Korean consumers are likely to spend less or limit buying to last year’s level during the upcoming Lunar New Year holidays, mainly due to higher prices and economic concerns, a local poll showed Monday.The poll, conducted by the Korea Chamber of Commerce and Industry on 600 housewives in Seoul and the Gyeonggi region, showed 92.5 percent saying they will cut down or control their spending in the next few weeks.Of the total, 40.6 percent said they will reduce purchases, with 51.9 percent sa
2011 producer inflation hits 3-year high: BOK

Jan 9, 2012

South Korean producer prices grew at the fastest clip in three years in 2011 on a sharp rise in crude oil prices, the central bank said Monday. The producer price index, a barometer of future consumer inflation, rose 6.1 percent on-year in 2011, up sharply from a 3.8 percent gain in 2010, the Bank of Korea said. It marked the highest annual increase since a 8.6 percent surge in 2008.In December, producer prices climbed 4.3 percent from a year earlier, the slowest gain in 15 months, as vegetable