The Korea Herald

World TV market set to stagnate in 2011

IndustryOct 20, 2011

The global television market is forecast to stagnate this year due to contracted demand in North America and Europe, an industry report showed Thursday.Total global shipments of TVs will likely hold steady at 248 million units this year, according to market researcher DisplaySearch. Liquid crystal d
Korean, French nuke agencies hold public acceptance forum

IndustryOct 20, 2011

A seminar hosted by the Korea Nuclear Energy Promotion Agency and the French Atomic Agency on increasing public acceptance of nuclear power plants will take place Friday at the National Assembly.At the seminar, experts from the nuclear industry and media as well as research professionals are to disc
Japan currency swap to bolster won: report

Oct 20, 2011

Experts call for government to sign more currency swaps with the U.S., ChinaThe expanded currency swap between South Korea and Japan is likely to bolster the value of the Korean won and help reduce its volatility, local brokerages said Thursday. Korea and Japan announced on Wednesday their agreement
Seoul to require price tags on all mobile phones

Oct 20, 2011

South Korea plans to require all mobile phone vendors to put price tags on their products in an effort to inform buyers of the exact fair price, the government said Thursday.Under a new government decree, the open price system will take effect from the beginning of next year and even cover home shop
S-Oil sets petrochemicals milestone

IndustryOct 20, 2011

Newly opened plant has world’s largest production capacity for para-xylene S-Oil’s newly expanded Onsan Plant in Ulsan was officially opened on Thursday in a ceremony attended by top industry and government officials including President Lee Myung-bak and Khalid Al-Falih, president
Samsung denies decision on iPhone 4S suit

TechnologyOct 20, 2011

Samsung Electronics Co. on Thursday said nothing had been decided over whether to file a preliminary injunction against Apple’s iPhone 4S in South Korea, amid intensifying speculation that a sales ban is likely.If implemented, such a ban would likely have a huge impact on the local handset market. T
Bank CEOs pledge to cut fees

Oct 20, 2011

Chief executives in the banking industry are moving to reach a consensus on slashing service fees on customer transactions amid mounting public anger over so-called corporate greed.The move comes after a group of citizens has been holding a series of rallies against financial companies, criticized f
Seoul shares end 2.74% lower on Europe’s woes

Oct 20, 2011

South Korean stocks closed 2.74 percent lower Thursday as investor sentiment was chilled by nagging concerns about the eurozone sovereign crisis, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index declined 50.83 points to close at 1,805.09.
KOTRA, KOGAS strike deal with IDB on more natural gas import

Oct 20, 2011

The Korea Trade-Investment Promotion Agency and the Korea Gas Corp. signed a memorandum of understanding with the Inter-America Development Bank to better access natural gas abundant in the Latin American region, Luis Albert Moreno, president of IDB said Thursday in Seoul. “Korea Gas Corp. probably
Government to introduce travel passes for foreigners

Oct 20, 2011

South Korea will sell new multiple-ride transit passes from December to foreigners visiting the capital area for their convenience, the government announced on Wednesday.The plan was part of a set of measures jointly announced by the Prime Minister’s Office and the Ministry of Land, Transport and Ma
FTC intensifies probe into department stores, vendors for unfair biz terms

IndustryOct 20, 2011

SEOUL, Oct. 20 (Yonhap) -- South Korea's antitrust watchdog will launch a stepped-up investigation into the business terms of local department stores and vendors as part of efforts to establish a fair trade environment in the retail sector, its head said Thursday.The toughened stance comes after the
Hana Financial denies report of cutting KEB takeover price

Oct 19, 2011

(Yonhap News) -- Hana Financial Group on Wednesday denied a local report that it has asked Lone Star Funds to cut the sales price for Korea Exchange Bank (KEB), which South Korea's No. 4 banking group is trying to take over. In July, Hana agreed with the U.S. buyout fu
Samsung Electronics ranks 22nd global green company: Newsweek

IndustryOct 19, 2011

South Korea’s technology giant Samsung Electronics Co. ranked 22nd on a list of the world’s top environment-friendly companies released by the U.S. magazine Newsweek on Wednesday.In the Newsweek Green Global 500 Ranking, Samsung soared 32 notches from its 54th place finish last year, to take the hig
2012 growth rate forecast to miss growth potential

Oct 19, 2011

South Korea’s real economic growth rate is expected to hover below the country’s growth potential in 2012 due to the global economic slowdown, private think tanks said Wednesday.According to the Samsung Economic Research Institute), the nation’s inflation-adjusted growth rate for next year is estima
GS chairman stresses crisis management

IndustryOct 19, 2011

GS Holdings plans to spin off energy divisionGS Group chairman Huh Chang-soo on Wednesday urged company executives to innovate and challenge growth fields to triumph over escalating economic turmoil.“Frontrunners in every industry have established an innovative and distinct business structure