The Korea Herald

Eximbank to borrow $2b more from abroad

Oct 5, 2011

The state-run Export-Import Bank of Korea plans to secure around $2 billion additionally from overseas financial markets later this year as part of its efforts to brace for worsening borrowing conditions, its chief said Tuesday.Eximbank has raised $7.8 billion via overseas borrowing this year and pl
Remittances from Koreans overseas up

Oct 5, 2011

Remittances of funds to South Korea from Koreans living in foreign countries hit a more than two-year high in August as the local currency’s sharp weakness prompted them to accelerate money transfers, data showed Tuesday.Total funds flowing from Korean residents overseas to local people reached $768
Tefal to unveil new coating and base innovation

IndustryOct 5, 2011

Cookware and small home appliance maker Tefal presented its brand new coating and base technology for frying pans in Seoul on Wednesday. From as early as mid-October, all Tefal frying pans will be replaced with the new line named “Tefal Intensium 3D Coating,” the company said. Even though new produc
Dozens of smaller firms to face risks of debt workout

Oct 5, 2011

A total of 55 small and mid-size companies in South Korea, mostly manufacturers and property developers, were found to have bad financial health that may put them under a debt workout program or a court receivership, industry data showed Wednesday.Local banks completed an assessment of 899 companies
Forex reserves fall by most in nearly 3 years in Sept.

Oct 5, 2011

South Korea’s foreign exchange reserves fell by the most in nearly three years in September due mainly to the weaker dollar conversion value of non-dollar assets and suspected dollar-selling intervention.The country’s foreign reserves reached $303.38 billion as of the end of September, down $8.81 bi
ManpowerGroup ranks 45th for innovative business technology

IndustryOct 5, 2011

The human resource services provider ManpowerGroup was included in among the top 50 companies in the InformationWeek 500 list.The list, compiled by the U.S.-based weekly InformationWeek, ranks companies headquartered in the U.S. with more than $250 million annual revenues according to the innovative
SK Holdings reorganizes divisions to boost efficiency

IndustryOct 5, 2011

SK Holdings, SK Group’s holdings company, reorganized its divisions on Oct. 1 as part of efforts to increase the efficiency of its operations, the company announced Wednesday.In making the changes, the company merged the two divisions responsible for developing means for future growth ― the Global a
Asiana to craft automated travel solutions

IndustryOct 5, 2011

Asiana Airlines unveiled plans on Wednesday to develop a one-stop travel planning system to make flight reservations easier for customers and streamline the check-in process.The country’s second-largest carrier said it struck a deal with Amadeus, a travel-specialized technology developer, to jointly
Samsung seeks to void iPad design rights in Europe

TechnologyOct 5, 2011

SEOUL, Oct. 5 (Yonhap) -- Samsung Electronics Co. said Wednesday that it has asked a European Union (EU) agency to invalidate the iPad's design rights in Europe, as the world's No. 2 mobile phone maker seeks to resume sales of its tablet computers in the pivotal market.Samsung filed an application w
Finance minister urges greater market confidence

Oct 5, 2011

SEOUL, Oct. 5 (Yonhap) -- South Korea's financial markets are reacting "sensitively" to international anxieties, the top economic policymaker said Wednesday, calling for more confidence in the nation's economic and financial fundamentals."Financial and currency markets are reacting sensitively to ex
S. Korea's foreign reserves fall by most in nearly 3 years in Sept.

Oct 5, 2011

SEOUL, Oct. 5 (Yonhap) -- South Korea's foreign exchange reserves fell by the most in nearly three years in September due mainly to the weaker dollar conversion value of non-dollar assets and suspected dollar-selling intervention.The country's foreign reserves reached $303.38 billion as of the end o
iDEA forum covers design from cities to cinema

IndustryOct 4, 2011

Three main talks to cover nations and cities, industrial design and cultureMasterminds behind best-selling BMWs, Samsung mobile phones, Coca Cola and theorists who can explain why consumers buy these products will come together in Seoul Wednesday and Thursday. The iDEA Herald Design Forum will kick
Ruling may change KEB’s fate

Oct 4, 2011

U.S. buyout fund could lose status as biggest shareholder of KEBThe Seoul High Court is likely to find the former CEO of Lone Star Funds’ Korean unit guilty on Oct. 6, according to industry sources.In March, the Supreme Court overturned the High Court’s earlier ruling that acquitted former Lone
Carmakers enjoy sales boost in Sept.

TransportOct 4, 2011

Hyundai Motor Co., Korea’s leading automaker, said Tuesday that its September sales jumped 14.1 percent from a year earlier, fueled by strong overseas demand for its vehicles.The carmaker said it sold a total of 359,560 vehicles last month, with overseas sales soaring 17.4 percent on-year to 303,307
Seoul markets hit by default fears in Greece

Oct 4, 2011

KOSPI falls by 3.59% while local currency closes at 1,194 won against dollarKorea’s financial markets on Wednesday reflected worse fiscal projections unveiled by the Greek government, seeing a plunge of stocks prices and further depreciation of the won against the U.S. dollar.The Korea Composite Sto