The Korea Herald

POSCO, Samsung to make sharp greenhouse gas emission cuts in 2012

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
LG unveils ultra-high-speed smartphone

IndustryOct 10, 2011

LG Electronics Monday launched a new smartphone with ultra-high-speed network technology in a bid to catch up with rivals Apple and Samsung. LG, the world’s third-largest handset maker, said its Optimus LTE smartphone based on 4G wireless technology offers photos and videos with “true natural colors
Regulator considering limiting micro credit card payments

IndustryOct 10, 2011

The Financial Services Commission said Monday that it is considering allowing businesses to reject credit cards for small payments.The potential upper limit would be 10,000 won ($8.55) similar to the United States and Canada, which impose a $10 cap, the nation’s top financial regulator said. “This i
New EUCCK head stresses deregulation, logistics

Oct 10, 2011

The head of the European Union Chamber of Commerce in Korea said Monday that Seoul must do more to ease business-related restrictions and improve its logistics infrastructure.In a news conference to mark his appointment as EUCCK president, Jean-Luc Valerio said change is needed if South Korea wants
Regulator considering limiting micro credit card payment

Oct 10, 2011

The Financial Services Commission said Monday that it is considering allowing businesses to refuse credit card payments for “micro amounts.”The potential upper limit would be 10,000 won ($8.55) considering similar cases in the United States and Canada, which impose a $10 cap, the nation’s top financ
General Motors to celebrate centennial of Chevrolet

IndustryOct 10, 2011

General Motors will celebrate the 100th anniversary of its flagship brand Chevrolet in Detroit, U.S., this week where the first Chevy was built in 1911, GM Korea said on Monday.Chevrolet traces its roots to the dawn of the U.S. auto industry and has expanded from its traditional markets in North Ame
Caution advised on surging software, entertainment shares

Oct 10, 2011

Despite gloom in the broader stock market, software and entertainment shares outperformed at a steady pace this year, suggesting that investors have yet to discover value in select stocks on the Seoul bourse. Price-to-earnings ratios, a key yardstick for measuring stock’s valuation, reached 26 for s
IAEA forum aims to lift awareness of nuclear power

IndustryOct 10, 2011

Nuclear experts aim to allay fears of atomic energy after Japan crisisThe International Atomic Energy Agency’s workshop for public information on new nuclear power plants kicked off in Seoul on Monday.The five-day event organized by the Korea Nuclear Energy Promotion Agency in collaboration with the
Samsung reports LED breakthrough

IndustryOct 10, 2011

Samsung Electronics Co. said Monday that its researchers reported a breakthrough in light-emitting diode technology that will allow production of ultra-large advanced display panels on ordinary glass, such as window panes. Samsung Advanced Institute of Technology succeeded in fabricating nearly sing
Pension agency’s investment in foreign property jumps

Oct 10, 2011

Investment by South Korea’s state-run pension fund in overseas properties jumped almost nine times this year, compared with that of the 2008 global financial crisis, according to data Monday, showing its effort to diversify its asset portfolio.The investment in overseas real estate by the National P
Korea rice output to fall to 31-year low

Oct 10, 2011

South Korea’s rice production is expected to fall to the lowest level in 31 years due to bad weather and a steady decrease in the size of rice paddies, a government report showed Monday.The report by Statistics Korea said the country’s rice production could reach 4.21 million tons this year, down 1.
River project at core of Korea’s green growth vision

Oct 10, 2011

New reservoirs to ratchet up water security, renewable energy useThe government’s five-year river refurbishment project epitomizes Korea’s commitment to “green growth,” a development model aimed at balancing environmental conservation and economic prosperity. President Lee Myung-bak has stressed cle
FTA boosts European car sales in Korea

TransportOct 9, 2011

European carmakers have far surpassed Korean companies in vehicle sales growth since the implementation of the Korea-EU Free Trade Agreement on July 1.Hyundai Motor and its affiliate Kia Motors saw their yearly sales growth inch up 2.7 percent at home, according to the Korea Automobile Research Inst
Merck Korea opens new R&D laboratory on OLED

Oct 9, 2011

Merck Ltd. Korea said on Sunday that its new Application Development Laboratory has gone into operation at the Advanced Technology Center in Poseung, Pyeongtaek in southwestern Gyeonggi Province. The multinational company started the operation after holding an opening ceremony for the laboratory, bu
Samsung, LG family names used illegally for overseas fraud

IndustryOct 9, 2011

Small, independent firm LKH Investment Group was discovered using the names of business tycoons Lee Kun-hee and Koo Ja-hak without permission in an apparent financial scam. Lee is chairman of Samsung Electronics, international tech giant, and Koo is the third son of the LG Group founder and married