The Korea Herald

Uncertainty still high over Lone Star-Hana deal on KEB

Oct 7, 2011

The Seoul High Court’s Thursday ruling that the ex-head of Lone Star Korea was guilty of manipulating stock prices cleared legal issues on the fund’s deal to sell its Korea Exchange Bank to Hana Financial Group. But uncertainty still lingers in the financial market as the U.S. buyout fund has yet to
S. Korea's CDS premium jumps most in 32 months

Oct 7, 2011

SEOUL, Oct. 7 (Yonhap) -- 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 (CDS) premium on South Korea's foreign currency bonds with five-year maturit
Seoul shares open higher on eased European woes

Oct 7, 2011

SEOUL (Yonhap) -- South Korean stocks got off to a strong start on Friday, tracking overnight gains on Wall Street underpinned by a European Central Bank (ECB) plan to support the region's struggling lenders, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 49.68 points,
Samsung puts Q3 operating profit at 4.2 trillion won

IndustryOct 7, 2011

SEOUL (Yonhap News) -- Samsung Electronics Co., the world's biggest maker of computer memory chips and the No. 2 mobile-phone maker, estimated Friday that it had logged an operating profit of 4.2 trillion won ($3.49 billion) in the third quarter.The preliminary estimate for the July-September period
Artists talk how their designs changed the world

Oct 6, 2011

The third session of Herald Design Forum 2011, “Culture and Design,” kicked off with a keynote speech by Chung Joon-mo, curator and general director of the Cheongju International Craft Biennale 2011. He discussed the roles of curators and critics, and the role of art museums, galleries and exhibitio
FSC to order Lone Star to sell KEB shares

Oct 6, 2011

(Yonhap News)Regulator says sale terms will be decided laterThe Financial Services Commission said Thursday that it is considering ordering Lone Star Funds to sell 41.02 percent of its total 51.02 percent stake in Korea Exchange Bank.The regulator’s policy comes shortly after the Seoul High Court ru
Koreans offer condolences, praise Jobs’ legacy

IndustryOct 6, 2011

The local IT scene on Thursday paid tribute to Apple founder and visionary Steve Jobs following the news of his death. The mastermind behind iMac, iPhone and iPad died from cancer aged 56, the California-based firm announced Thursday. The stock prices of Samsung Electronics, whose relationship with
Steve Jobs' death to have limited impact on S. Korean biz, Samsung suits

IndustryOct 6, 2011

SEOUL, Oct. 6 (Yonhap) -- Although the death of Steve Jobs aroused waves of sadness and condolences among South Koreans on Thursday, his absence is not expected to have an immediate impact on the country's information technology industry or his company's bitter lawsuits with Samsung Electronics Co.,
Sales of imported vehicles jump 25.3% in Sept.

IndustryOct 6, 2011

Sales of imported vehicles in South Korea jumped 25.3 percent in September from a year earlier, helped by new car models and importers’ aggressive marketing, a local trade association said Thursday.A total of 10,055 imported vehicles were sold in the country last month, compared with 8,022 units sol
Financial firms set to post record profits

Oct 6, 2011

South Korean banks and brokerages are expected to rake in record-high profits this year on their aggressive sales strategies, despite ongoing global economic uncertainties, industry data showed Thursday.The combined net profit of 17 local brokerages soared 107.9 percent on-year to 362.3 billion won
Renault Samsung holds safety drive

TransportOct 6, 2011

Renault Samsung Motors held a “safe school zone” campaign on Thursday as part of a social responsibility drive by CEO Francois Provost.It was the first public event in Korea by Provost, who took the helm of the automaker last month.The CEO participated in the campaign to encourage drivers to lower t
U.S. picks up pace on FTA ratification

Oct 6, 2011

The Korea-U.S. Free Trade Agreement could receive approval from the U.S. Senate as early as next week, Deputy Minister of Trade for FTA Choi Seok-young said Thursday. “The House Ways and Means Committee passed the bill for the Korea-U.S. FTA implementation, and at this rate, we expect the bill to be
Venture companies play key role for ‘Dynamic Korea’

IndustryOct 6, 2011

When it comes to representative Korean companies, many people think of large conglomerates such as Samsung Electronics and Hyundai Motor. It’s true that they have elevated Korea’s global status: Samsung Electronics is an IT leader vying with Apple, while Hyundai Motor is a front-runner in Korea, the
Forum to highlight rivers project

IndustryOct 6, 2011

Restorations to be put forward as model for wetland protectionPolicymakers, experts and scholars from across the globe are set to discuss challenges and strategies for water resources and green growth at a forum hosted by the Korean government. Kicking off Friday in Seoul, the two-day event is desig
KB Financial kicks off job fair for SMEs

Oct 6, 2011

KB Financial Group said Thursday that it kicked off a two-day job fair in Incheon to resolve manpower shortages among small and mid-sized enterprises and provide jobseekers with opportunities.The nation’s leading financial group ― in coordination with the Korea Chamber of Commerce & Industry ― will