The Korea Herald

SK unit to export naphtha tech to China

IndustryOct 18, 2011

SK Innovation, Korea’s top refiner, said Tuesday it has clinched a deal with China’s Yanchang Petroleum Corp. to export its catalyst technology used to break down naphtha. First developed by SK and the Korea Research Institute of Chemical Technology in 2008, the Advanced Catalytic Olefins process al
Samsung boosts smartphone clout

TechnologyOct 18, 2011

Tech giant to unveil Galaxy Nexus in Hong Kong this WednesdaySamsung Electronics is moving to further expand its market share in smartphones, while continuing its patent fight against rival Apple Inc.On Wednesday Samsung is to unveil a new smartphone dubbed the “Galaxy Nexus,” which will run on the
Seoul shares fall 1.41 percent on fading eurozone optimism

Oct 18, 2011

South Korean stocks closed 1.41 percent lower on Tuesday as remarks from Germany dampened investor hopes on the eurozone debt crisis resolution ahead of a European Union summit later this week, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI slumped 26.28 points to
Foreign banks mixed on Korea rate outlook

Oct 18, 2011

Major foreign investment banks forecast South Korea’s central bank to freeze its key interest rate for the remainder of the year, while some expect a rate hike or a cut, a report showed Tuesday.The Bank of Korea froze the benchmark rate at 3.25 percent in October for the fourth straight month as sig
Card issuers expected to reap huge profits from loan services

Oct 18, 2011

South Korean credit card firms are expected to rake in huge profits this year from their loan services as more cardholders take out cash advances on their credit cards amid tightened lending regulations, industry sources said Tuesday. Credit card companies posted a combined profit of 679 billion won
Samsung Fire expands sales in China

Oct 18, 2011

Samsung Fire & Marine CEO Chi Dae-sub (second from left, front row) poses at an event to celebrate the opening of a branch in Tianjin, China. (Samsung Fire & Marine)Samsung Fire & Marine Insurance, which holds about 30 percent of the Korean non-life insurance market, has been active in tapping the C
Hana pushes to cut KEB price

Oct 18, 2011

Chairman Kim Seung-yu visits U.S. to woo investorsHana Financial Group is expected to launch actions to placate opponents of the group’s planned takeover of Korea Exchange Bank from Lone Star Funds.Hana spokespeople said the move will come after the Financial Services Commission orders Lone Star, co
GS Caltex strives to achieve shared growth

IndustryOct 18, 2011

Korea’s No. 2 refiner scales up cash payments, low-interest loans and technical training for suppliersGS Caltex, the country’s second-largest oil refiner, is stepping up efforts to support its small vendors and suppliers as it strives to create a level playing field in Asia’s fourth-largest economy.
Hanwha Group to plant forest in Mongolia

IndustryOct 18, 2011

Hanwha Group, which is developing solar power as a future growth engine, is lending a helping hand to the fight against desertification.The Korean conglomerate, which sponsored the United Nations Convention to Combat Desertification meeting in Changwon, South Gyeongsang Province in October, is condu
Hanwha looks to solar power to fuel growth

IndustryOct 18, 2011

Conglomerate is working on additional production facility for solar power equipment in ChinaHanwha Group’s vertical integration of its solar power businesses is nearing completion as it seeks to take on the growing global market for solar energy and develop the business into a growth engine for the
Apple sells 4M-plus new iPhone models in 3 days

TechnologyOct 18, 2011

The Leon Guerrero family, on vacation from Dallas, show off their new Apple iPhone 4S phones they purchased at a Sprint store in San Francisco. Apple said Monday, Oct. 17, 2011, it sold more than 4 million units of the new iPhone model in three days. It's selling more than twice as fast as the previ
Trade surplus with 5 FTA signatories more than doubles

Oct 18, 2011

SEOUL, Oct. 18 (Yonhap) -- South Korea saw its trade surplus with five economic entities with which it has free trade agreements(FTAs) more than double last year as trade volumes with them surged on the back of the deals, a report showed Tuesday.According to the report compiled by the trade ministry
Jeonse giving way to monthly rent: report

Oct 17, 2011

Nearly half of all tenants in South Korea have signed up for a monthly rent contract, a report showed on Monday, underscoring the shift in tenancy agreements accelerated by a prolonged period of low interest rates and stagnant property prices. According to Real Estate 114, the proportion of the mont
Samsung widens campaign to ban iPhone 4S sales

IndustryOct 17, 2011

Samsung heir apparent attends Steve Jobs’ memorial in the U.S.Samsung Electronics said Monday it filed for a sales ban on Apple’s latest smartphone in Japan and Australia, while its heir apparent Lee Jae-yong visited the U.S. to attend the memorial service of Apple’s late co-founder, Steve Jobs.The
Credit card firms to cut transaction fees

Oct 17, 2011

Regulator’s move to promote ‘shared growth’ is met with protestKorea’s major credit card firms said on Monday they would slash the transaction fees they collect from small merchants as a reluctant response to the growing calls for a rate cut to bolster their shaky profits amid regulatory pressure. S