The Korea Herald

Korea celebrates revival of four rivers

Oct 23, 2011

Festival underscores government’s 5-year project to renovate river basinsThe government hosted an event last weekend to celebrate the revitalization of the country’s four major rivers as its multi-billion-dollar project nears its end.The Ministry of Land, Transport and Maritime Affairs opened on Sat
Korea to strengthen fiscal health: minister

Oct 23, 2011

South Korea’s top economic policymaker said Saturday that the government should continue its efforts to strengthen fiscal health to prepare for any possible future crisis. “In preparation for another economic crisis and potential fiscal challenges stemming from the low birthrate and aging population
Hyundai exports 2m cars to Latin America

TransportOct 23, 2011

Hyundai Motor Co., South Korea’s largest automaker, said Sunday that total car exports to Latin America reached 2 million units, fueled by competitiveness in quality and successful marketing efforts.The company said the milestone, which was reached on Saturday with the loading of 800 Tucson ix sport
BOK chief hints at rate hike

Oct 23, 2011

South Korea’s central bank will resume its efforts to raise the interest rate if a set of external economic uncertainties are reduced, its chief has said.Bank of Korea policymakers face a dilemma in how to deal with lingering inflation concerns and heightened economic uncertainty sparked by dimmer g
BJFEZ gains key momentum

Oct 23, 2011

Operation of the Busan-Jinhae Free Economic Zone is gaining momentum, aided by the Korean operations of prominent foreign organizations based in the special economic zone.On Oct. 17, Tsubakimoto Automotive Korea’s plant in the zone was completed. The plant will produce timing chains used in automobile engines for Hyundai Motor Group’s two carmakers, and the company plans to increase the number to 107 by 2014 from the current 45. According to BJFEZ Authority, the Tsubakimoto Chain Co-owned plant
Korea to see price rises outpace economic growth

Oct 23, 2011

Korea’s economic growth rate is forecast at far below the estimated inflation gain this year, data showed on Sunday, raising fears that the country might be entering an era of a chronically slow growth. According to the data by the Korea Center of International Finance, 10 foreign investment banks p
Import car sales to top 100,000 units in 2011

TransportOct 23, 2011

The nation’s automobile market is set to mark an epoch-making figure in import vehicle sales this year as more foreign companies’ expand their marketing and businesses here.Apart from the big four ― BMW, Mercedes-Benz, Volkswagen and Audi, new competitive players such as Nissan and Jaguar/Land Rover
Hotel Skypark looks beyond Toyoko Inn

Oct 23, 2011

Newcomer aims to become Korea’s tourism-focused business hotel chainChoi Young-jae still reminisces about his days in the ‘90s as a sports reporter at a local daily, struggling to find an affordable place to stay when he traveled other parts of the country.That is exactly what has dragged the 53-year-old journalist-turned-entrepreneur into the hospitality industry, launching Hotel Skypark in Myeongdong, downtown Seoul last year.“I thought we could penetrate a niche market for those who feel bur
IMF sees Korea's debt will drop to pre-crisis level in 2012

Oct 23, 2011

SEOUL, Oct. 23 (Yonhap) -- The International Monetary Fund (MF) predicts South Korea's national debt is expected to fall to the level of before the 2008 global financial crisis in 2012, the finance ministry said Sunday.The ratio of South Korea's national debt to its gross domestic product (GDP) will
Imports of Japanese fisheries goods dip on radiation scare

Oct 23, 2011

SEOUL (Yonhap) -- South Korea's imports of Japanese fisheries products tumbled 37 percent on-year in the first nine months of this year in the wake of the March radiation leakage in the neighboring country, a report showed Sunday.South Korea imported 33,700 tons of fisheries goods from Japan in the
S. Korea’s growth rate to hover below inflation gain this year

Oct 23, 2011

SEOUL, Oct. 23 (Yonhap) -- South Korea’s economic growth rate is expected to fall below its inflation gain this year due mainly to sluggish exports and rising consumer prices, data showed Sunday.The average forecast of South Korea’s 2011 growth by 10 foreign investment banks came to 3.7 percent as o
Global population set to reach 7 billion this month

Oct 23, 2011

SEOUL, Oct. 23 (Yonhap) -- The world's population is expected to hit 7 billion by the end of this month, more than quadrupling from 100 years earlier, a report showed Sunday.According to the report by insurance giant Allianz Group, the planet's population is set to reach the new milestone at the end
EU summit likely to affect S. Korea's stock market direction next week

Oct 22, 2011

South Korean stocks stand to be affected by the outcome of next week's summit talks among European leaders as the fiscal debt crises in Greece and other eurozone countries still weigh on the overall market sentiment here, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI)
Korea soon to finalize currency swap expansion deal with China

Oct 21, 2011

The government will soon finalize the won-yuan swap expansion deal with Chinese authorities to boost the $26 billion currency swap currently in place, multiple sources at the Finance Ministry confirmed on Thursday. A senior ministry official said the expansion of the won-yuan swap was proposed by th
Samsung ahead of Apple in Q3 smartphone sales

IndustryOct 21, 2011

Samsung Electronics Co. outpaced Apple Inc. in the global smartphone market by more than 10 million handsets during the third quarter of the year, industry data showed Friday.According to the data, Samsung Electronics sold about 27 million smartphones during the July-to-Sept. period, while Apple’s f