The Korea Herald

Korea seeks to export river restoration technology

Oct 9, 2011

Four-river restoration project opponents changing their tune after seeing improvements: ShimFor the last three years, the Lee Myung-bak government has been struggling to convince its own people of the worthiness of its multi-billion-dollar project to modify the country’s four largest river basins. B
Samsung, Google delay product debut citing Jobs’ death

TechnologyOct 9, 2011

Google Inc. and Samsung Electronics Co. delayed a new product introduction scheduled for an Oct. 11 trade show after the death of Apple Inc. co-founder Steve Jobs.Samsung sent out invitations last month announcing an event in San Diego that would include a look at what’s new for Google’s Android, so
U.N. opens desertification forum in Changwon

IndustryOct 9, 2011

The first U.N. meeting to combat desertification to be held in Korea will focus on defining standards to measure progression of land degradation, a step essential to boost international support and funding, the United Nations Convention to Combat Desertification said.The UNCCD said that starting Mon
Consumer borrowing dropped $9.5 billion in August

Oct 9, 2011

WASHINGTON (AP) -- Consumers slashed their borrowing in August by the most in 16 months. The drop suggests many worried about taking on new debt while the economy slumped and the stock market fluctuated wildly.Fewer people used their credit cards. And a measure of demand for auto and student loans f
Wholesale stockpiles grew 0.4 percent in August

Oct 9, 2011

WASHINGTON (AP) -- Wholesale businesses increased their stockpiles of autos, computer equipment and heavy machinery in August, boosting inventories for a 20th straight month as their sales rose at the fastest pace in five months.The combination of rising sales and inventories should be a good sign f
Disney CEO Iger renewed through March 2015

Oct 9, 2011

LOS ANGELES (AP) -- Disney CEO Robert Iger will remain in his job through March 2015 and then serve as executive chairman for another 15 months to help break in a new chief executive, the company said Friday.The definite end to what will be a decade-long tenure suggests the eventual promotion of one
Merkel spells out how to bolster European banks

Oct 9, 2011

German Chancellor Merkel spells out how to bolster European banks amid the bloc’s debt crisis BERLIN (AP) -- German Chancellor Angela Merkel said Europe’s banks should look first to raise money in the private sector before turning to governments to bolster their financial cushions against potential
With smartphones, ordinary people can turn mundane life into cinema

TechnologyOct 9, 2011

BUSAN (Yonhap News) - Ordinary people presented iPhone-made shorts on the sidelines of the Busan International Film Festival over the weekend, demonstrating even a 12-year-old can venture into movie-making as the high-tech handset lowers the threshold. Despite featuring no film luminaries and drawin
Major KOSDAQ firms meet up with foreign investors

Oct 8, 2011

SINGAPORE -- The recent rout in the global financial market has amplified, among other things, the high volatility of the tech-heavy KOSDAQ stock market in South Korea, with many of its small and midsize firms’ shares varying wildly. Benjamin Ng, managing director of Whitefield Capital Manageme
Fitch cuts Italy, Spain ratings over euro crisis

Oct 8, 2011

(AFP) -- Fitch cut its credit ratings on Italy and Spain Friday, citing the increasing pressure on them as the eurozone debt crisis makes efforts to stabilise their public finances even more difficult.The eurozone debt crisis has seen Greece, Ireland and Portugal all bailed out by the EU and Interna
Nonghyup spurns 4 trillion won support package proposal

Oct 7, 2011

SEOUL, Oct. 7 (Yonhap) -- The National Agricultural Cooperative Federation (NACF) on Friday said that it cannot accept a 4 trillion won (US$3.39 billion) support package proposal by the government, claiming that more money is necessary for the reform of the cooperative entity.Last month, the governm
Samsung, Micron to develop technique for high-performance memory chips

TechnologyOct 7, 2011

SEOUL, Oct. 7 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, said Friday that it is teaming up with Micron Technology Inc. of the U.S. to develop technology to produce a high-performance memory chip.Samsung has formed a consortium with Micron Technology, the U.S.'s larges
Samsung profit beats forecasts

IndustryOct 7, 2011

Company expects third-quarter profit at $3.5 billion, 12% up from second quarterSamsung Electronics on Friday expected its quarterly profit to exceed market forecasts on the back of brisk smartphone sales and a weak local currency. The world’s largest technology company said in a statement that prof
Korea’s CDS premium jumps most in 32 months

Oct 7, 2011

The cost of insuring South Korea’s sovereign debt against default climbed the most in 32 months, growing two times faster than that of eurozone countries, data showed Friday.The credit default swap premium on South Korea’s foreign currency bonds with five-year maturities reached 220 basis points as
BOK head cuts economic growth forecast up to 2012

Oct 7, 2011

The South Korean economy is likely to grow at a slower pace than the central bank’s earlier forecast of 4.3 percent this year amid dimmer global economic outlooks, its chief said Friday.“The growth of the South Korean economy is expected to be lower than 4.3 percent this year, but it will be higher