The Korea Herald

FSC may order bourse sale of KEB shares

Nov 9, 2011

Regulator apparently determined to take stern action against Lone Star FundsFinancial regulators hinted at the possibility that they could order Lone Star Funds, which was convicted of stock manipulation, to sell most of its stake in Korea Exchange Bank at market-determined prices on the stock market.A senior official of the Financial Services Commission on Wednesday dismissed speculation that the regulator will simply order Lone Star to sell the KEB shares with no specific conditions, which may
Honda to release over 10 new models in S. Korea: CEO

TransportNov 9, 2011

Honda Motor Co., Japan‘s No. 2 carmaker, plans to launch more than 10 new models in the growing South Korean market, the company’s global CEO said Wednesday.Takanobu Ito said in a meeting with reporters that South Korea has become an important market for the Japanese carmaker and said all available resources will be used to boost competitiveness here.He did not give the names of the car models Honda wants to sell in South Korea or a time frame for their release but said the launching of the 2012
Toyota recalls 550,000 cars globally

IndustryNov 9, 2011

TOKYO (AP) _ Toyota Motor Corp. is recalling about 550,000 vehicles worldwide _ mostly in the United States _ for possible problems related to the crankshaft pulley on the engine that could make it harder to steer.Toyota's U.S. sales unit said in a statement Wednesday that if the problem isn't corre
Honda shows smarter robot, helps in nuclear crisis

TechnologyNov 9, 2011

Honda's human-shaped robot can now run faster, balance itself on uneven surfaces, hop on one foot and pour a drink. Some of its technology may even be used to help out with clean-up operations at the stricken Fukushima nuclear plant. Honda Motor Co.'s revamped human-shaped robot "Asimo" uses a
S. Korea's jobless rate falls to 2.9 percent in Oct.

Nov 9, 2011

SEOUL, Nov. 9 (Yonhap) -- South Korea's jobless rate fell in October from a month earlier and job creation accelerated at the fastest pace in 17 months, showing signs that long-frozen labor conditions might be thawing, a report showed Wednesday.The jobless rate stood at 2.9 percent last month, down
Non-banking institutions’ household loans on the rise

Nov 8, 2011

The weight of household lending out of non-bank institutions’ total loans hit a record high in the second quarter, central bank data showed Tuesday, spawning concerns about growing household debt.The portion of non-bank institutions’ home loans out of their total lending reached 51.7 percent in the April-June period, up from 50 percent tallied in the first quarter, according to data by the Bank of Korea.The second-quarter figures marked the highest level since the first quarter of 2008 when the
Ssangyong Motor to release flagship sedan in China

TransportNov 8, 2011

HONG KONG (Yonhap News) ― South Korea’s smallest automaker Ssangyong Motor Co. said Tuesday it will unveil its flagship luxury sedan for the first time in China in an effort to expand its presence in the world’s No. 1 auto market.The Chairman W will be showcased at the ninth annual Guangzhou International Motor Show, which is set to kick off on Nov. 22 for a seven-day run in the southern Chinese city.Ssangyong Motor, the Korean unit of the Indian sport utility vehicle maker Mahindra & Mahindra L
State oil company plans Kazakhstan investment

Nov 8, 2011

The Korea National Oil Corp. will soon increase its presence in Kazakhstan under massive investment plans to significantly bolster its oil production, the company’s top official in the Central Asian country said.The state-run KNOC has four production fields and four undergoing exploration in Kazakhstan that currently churn out about 15,000 barrels of oil per day.“The company plans to increase its daily production level here to 50,000 barrels within the next few years, which will then make up a c
Hyundai Heavy raises bet on earth-moving equipment

IndustryNov 8, 2011

Hyundai Heavy Industries Co. is raising its bets on the construction equipment business as it begins making compact wheel loaders at its new factory in China.The world’s top shipyard said Tuesday it had completed the $49 million plant in Tai’an in eastern China with an annual capacity of 8,000 five-ton and three-ton wheel loaders, which are used to scoop up and move materials such as dirt and sand.“The company plans to set the plant as another base for growth in the world’s largest wheel loader
Mini Cooper Coupe launched

TransportNov 8, 2011

German luxury carmaker BMW AG on Tuesday launched a coupe version of its popular Mini small-sized car to meet South Korean consumer demand for sporty vehicles, the company said.The Mini Cooper Coupe is the first two-seater and the fifth model of the compact, fuel efficient vehicle that has been on the market for a decade.The new coupe, which was unveiled at the Frankfurt Motor Show in September, has a 1.6-liter, inline four cylinder engine that generates a maximum 122 horsepower with 16.3 kilogr
Samsung drops development of active shutter 3-D TVs

IndustryNov 8, 2011

Samsung Electronics Co., the world’s top TV maker, said Tuesday that it has scrapped its plan to develop 3D TVs with RealD Inc. amid lingering uncertainties in the global TV market. A Samsung spokesman said that the company is no longer pursuing the development of the active shutter 3D TVs in a deal that was announced earlier this year with RealD, a 3D technology licensor based in California in the United States. Samsung Electronics plans is focusing on development and production of active shutt
BOK in dilemma over interest rate

Nov 8, 2011

Korea’s central bank board to decide key rate on FridayIn recent months, the key debate concerning the interest rate policy of the Bank of Korea revolved around when it would raise benchmark rates. Not for Friday, when the central bank holds its policy-setting meeting amid growing worries over whether the eurozone debt crisis will spin out of control, engulfing bigger nations like Italy and dragging down the global economy.Although analysts and economists expect the central bank to keep the rate
Korea Post to slash banking fees

IndustryNov 8, 2011

Korea Post, the state-run postal service agency, said Tuesday it plans to abolish or sharply reduce fees for financial transactions at post offices nationwide.To be implemented later this month, the new policy entails an exemption of all banking costs for low-income Koreans, people with disabilities, teen heads of household, college students, veterans and patriots.The agency also said it will scrap or cut 35 types of charges by up to 54 percent, such as for automated teller machines, wire transf
Game trade show G-Star 2011 kicks off Thursday

TechnologyNov 8, 2011

Event draws big four local companies, 380 firms from 28 countriesThe country’s biggest international game trade show G-Star will kick off Thursday, featuring a wide array of arcade, board and consol games, as well as online and mobile games at BEXCO in Busan.With 380 game companies from 28 different countries participating, the most ever for the show entering its seventh year, big name firms such as Nexon, NCsoft, Neowiz Games, Hangame, Blizzard Entertainment and Sega will showcase games to be
Economy showing signs of weakness: ministry

Nov 8, 2011

The Korean economy is showing signs of weakness from the subdued outlook for global growth and uncertainties over the European debt crisis, the Finance Ministry said Tuesday.In its monthly economic assessment, the ministry cited slowing industrial output, export growth, job creation and facility investment as evidence of slowing economic momentum. It also warned of persistent price pressure which could worsen with rising import costs.“Our economy keeps recovering but some indicators are weakenin