The Korea Herald

Financial firms set to pay hefty bonuses

Oct 11, 2011

South Korea’s financial regulator has urged local bank chiefs to stem excessive dividend payments and set aside enough money to brace for worsening shockwaves stemming from the ongoing global uncertainty, sources said Tuesday.The move comes on the heels of projections that local banks are expected t
Luxury brands probed over commission charges: FTC

IndustryOct 11, 2011

The Fair Trade Commission said Tuesday that it has launched an investigation into major local and foreign brands sold at the so-called “Big Three” department stores in the nation. The probe started as part of the antitrust regulator’s determination to root out unfair business activities in the retai
Korean trading companies rush to tap overseas ...natural resources

Oct 11, 2011

South Korean trading companies are rushing to develop overseas natural resources as part of efforts to diversify their business portfolios and seek new growth engines, industry sources said Tuesday. LG International Corp., the country’s leading coal trader, started commercial production this month a
Automobile output jumps 10.3% in Sept.

Oct 11, 2011

South Korea’s automobile production increased 10.3 percent on-year in September on strong demand from both domestic and overseas markets, the government said Tuesday.The country’s five carmakers produced 374,014 vehicles last month, compared with 339,077 in the same period last year, according to th
STX eyes $200m sales from Indonesian coal mine

IndustryOct 11, 2011

STX Corp. plans to increase revenues generated from its coal mine in Indonesia to $200 million next year, and push up the mine’s output to 5 million metric tons by 2013.STX Corp. acquired 40 percent of the mine from the Indonesian mining firm PT Indoasia Cemerlang at the beginning of the year for $3
Producer inflation falls to 9-month low in Sept.

Oct 11, 2011

South Korea’s producer prices grew at the slowest pace in nine months in September as prices of agricultural products fell, the central bank said Tuesday.The producer price index, a barometer of future consumer inflation, rose 5.7 percent in September from a year earlier, slowing from a 6.6 percent
Korean financial firms set to pay hefty bonuses

Oct 11, 2011

South Korean financial companies are expected to dole out massive amounts of bonuses to their employees on the back of their robust profits, market watchers said Tuesday, raising concerns the move may spark similar anger here that is fueling protests on Wall Street.Local banks and brokerages racked
After long wait, Facebook releases iPad app

TechnologyOct 11, 2011

NEW YORK (AP) -- One of the enduring questions of the technology world: “When will iPad users get their very own Facebook app?”That question was answered Monday as Facebook released an updated version of its iPhone application, one that's also designed to fill out the iPad's larger screen.The lack o
Apple says pre-orders of iPhone 4S break record

IndustryOct 11, 2011

NEW YORK (AP) -- Apple says first-day pre-orders of the iPhone 4S topped 1 million, breaking the record set by last year's model. Apple CEO Tim Cook talks about the iPhone 4S during an announcement at Apple headquarters in Cupertino, Calif., Tuesday, Oct. 4, 2011. (AP-Yonhap News)Apple Inc. an
S. Korea's produce price growth hits 9-month low in Sept.

Oct 11, 2011

SEOUL (Yonhap) -- South Korea's producer prices grew at the slowest pace in nine months in September as prices of agricultural products fell, the central bank said Tuesday.The producer price index, a barometer of future consumer inflation, rose 5.7 percent in September from a year earlier, slowing f
Korea sets drastic emission cut goal

Oct 10, 2011

South Korea’s top businesses such as POSCO and Samsung Electronics Co. will have to significantly cut their greenhouse gas emissions output in 2012 to help stem global climate change, the government said Monday.The Ministry of Knowledge Economy said leading steelmaker POSCO needs to cut emission lev
SC First Bank set to drop Korean name

IndustryOct 10, 2011

Standard Chartered First Bank will drop the “First” from its name, becoming Standard Chartered Bank within this year, the bank said Monday. “It’s not going to happen within this month, but we plan to change the bank’s name before the end of the year,” the bank’s Seoul official said Monday.The change
Water security, green growth in limelight at forum

Oct 10, 2011

Policymakers, academics and private experts from around the world united to call for measures to address a looming water crisis and shore up sustainable growth at a forum last week.Around 800 officials and researchers from some 20 countries and multinational agencies took part in the International C
More self-made entrepreneurs join Korea's rich list

Oct 10, 2011

Park Hyun-joo, Kim Jung-ju make top 10 list for the first timeKorea’s list of the wealthiest people has welcome two non-conglomerate players, according to Chaebul.com, a company tracking the country’s conglomerates. The list of the richest people in Korea, especially the top 10, used to be dom
Nuclear power is a bridge for cleaner future

IndustryOct 10, 2011

Nuclear power is an essential source of energy that requires more understanding on the part of the public, Korea Nuclear Energy Promotion Agency Chairman Rhee Jae-hwan said.Stating that while nuclear power has its dangers, it will continue to be an essential energy source until alternative sources a