The Korea Herald

Income gap between firms, household widens faster

Sept 29, 2011

The income growth rate of Korean corporations jumped rapidly last year, widening the gap with the growth trend of household income, the Bank of Korea data showed on Thursday.The total income of firms here was tallied at 280.6 trillion won ($240 billion) in 2010, up 18.3 percent from a year earlier.
Korean Air awarded for top first class cabin

IndustrySept 29, 2011

Korean Air received the top award for its first class seats, the carrier announced Thursday. The airline said it was awarded the Asia’s Leading Airline First Class award at the World Travel Awards Asia and Australia in Bangkok on Wednesday. This is the second consecutive year Korean Air has been sel
Swiss, Nissan research car that reads the driver's thoughts

TransportSept 29, 2011

GENEVA (AFP) - In the future, thinking about turning left may no longer be just a thought. Japanese auto giant Nissan and a Swiss university are developing cars that scan the driver's thoughts and prepares the vehicle for the next move."The idea is to blend driver and vehicle intelligence together i
China tells police to use social media

TechnologySept 29, 2011

China has ordered police nationwide to make more use of social networking sites to ensure greater openness and "dispel misunderstandings", the state Xinhua news agency said Tuesday.Huang Ming, vice-minister of public security, delivered the message at a conference on Monday aimed at helping law enfo
Amazon unveils $199 Kindle Fire tablet

TechnologySept 29, 2011

Amazon CEO Jeff Bezos on Wednesday showed off the Kindle Fire, a $199 tablet computer, challenging Apple's iPad by extending its Kindle brand into the world of full-color, multipurpose devices. Jeff Bezos, chairman and CEO of Amazon.com, introduces the Kindle Fire at a news conference Wednesday in N
Samsung, Microsoft expand smartphone partnership

TechnologySept 28, 2011

NEW YORK (AP) -- Microsoft and Samsung Electronics have agreed to cross-license each other's patent portfolios, with Microsoft getting royalties for the mobile phones and tablets Samsung sells that run the Android operating system.Microsoft Corp. and Samsung Electronics Co. said Wednesday that they
Daewoo Int’l taps into Australian mining

IndustrySept 28, 2011

NARRABRI, Australia ― Daewoo International Corp., Korea’s leading trading company, is making rapid progress in resources development in Australia.The trading firm shipped 75,000 tons of coal extracted from Narrabri, 600 kilometers northeast of Sydney, to Japan on Thursday. It was the first time Daew
Samsung hints at all-out war against new iPhone

TechnologySept 28, 2011

Samsung Electronics Co. will seek a global sales ban on the upcoming iPhone as part of an all-out war against Apple Inc., a high-ranking company official said Wednesday, signaling a shift in its position on the deepening legal row.Samsung, which is embroiled in some 20 patent lawsuits with Apple aro
FSC to auction off halted savings banks

Sept 28, 2011

Authorities say about half of 85 savings banks suffer from financial difficultiesFinancial authorities are set to put debt-ridden savings banks up for auction to find preferred bidders among bigger financial companies, following a former case during the first half.As an initial step, the Financial S
Korea plans to triple food exports by 2017

Sept 28, 2011

Korean Finance Minister Bahk Jae-wan (left) shakes hands with his Chinese counterpart Zhang Ping at the opening of the economic ministers’ meeting in Seoul on Wednesday. (Yonhap News)The Agriculture Ministry announced on Wednesday its six-year plan to strengthen the food industry to match the soarin
LG files to ban sales of BMW, Audi cars here

IndustrySept 28, 2011

Two LG affiliates have filed a lawsuit to ban BWM and Audi’s local branches from selling cars fitted with Osram-made headlamps as part of their ongoing patent battle with the lightmaker, LG Electronics said on Wednesday. LG Electronics and LG Innotek said they are together seeking the sales injuncti
Weak won a major obstacle to stock gains

Sept 28, 2011

With fears about the eurozone debt crisis and a slower recovery of the U.S. economy weighing down investor sentiment, a recovery of the KOSPI hinges on the stabilization of the local currency, analysts said on Wednesday. (Yonhap News)The Korean stock market in the past week went through gyrati
SKC completes EVA plant in United States

IndustrySept 28, 2011

SKC Inc., a South Korean industrial film maker, said Wednesday that it has completed an ethylene vinyl acetate plant in Georgia in the United States.The plant will annually produce 12,000 tons of EVA, a key component in making solar cells, raising the company’s total annual capacity of EVA to 36,000
FTC to examine firms’ shared-growth efforts

IndustrySept 28, 2011

The Fair Trade Commission said on Wednesday that it will start a large-scale crackdown on unfair business practices next month, especially on high commission fees at major retail companies. The nation’s antitrust regulator revealed the plan on the first anniversary of the government’s shared-growth
Korea, China agree to tighten policy cooperation

Sept 28, 2011

Finance chiefs of Korea and China agreed to tighten policy cooperation to boost regional developments and seek solutions to social problems they share, Korea’s Finance Ministry said Wednesday. The agreement was reached during a four-hour meeting between Korean Finance Minister Bahk Jae-wan and his C