The Korea Herald

Job creation takes center stage in budget

Sept 27, 2011

Global economic uncertainty may threaten job-driven growth planThe South Korean government has mapped out its 2012 budget plan aimed at creating jobs, in the hope it will bolster welfare and economic growth and ease the impact of global uncertainties.The budget proposal, to be submitted to the Natio
Korea needs to develop distinctive ‘Korean style’ designs

IndustrySept 27, 2011

Consumer-focused design and R&D is essential for successFollowing is the fifth in a series of interviews with world’s top designers and scholars who will participate in the Herald Design Forum in Seoul from Oct. 5 to Oct. 6. ― Ed.Companies need to focus all their efforts on the consumer, and begin t
Auto sales boom lifts POSCO’s Turkey business

IndustrySept 27, 2011

NILUFER, Turkey ― Last October, in the midst of a robust economic upturn, POSCO opened facilities in Turkey to process steel sheets in a bid to hitch a ride on an unparalleled boom in the country’s automotive market. Almost a year on, the steelmaker’s Turkey Nilufer Processing Center is witnessing a
Amazon expected to unveil tablet at mystery event

TechnologySept 27, 2011

WASHINGTON, Sept 26, 2011 (AFP) -- With nearly 30 million iPads sold, Apple is the undisputed tablet computer champion.BlackBerry maker Research In Motion, US computer giant Hewlett-Packard, South Korea's Samsung and scores of other companies with devices powered by Google's Android software have al
Korean won worst performer among major currencies

Sept 27, 2011

SEOUL, Sept. 27 (Yonhap) -- The South Korean currency fell more than 12 percent to the U.S. dollar in September compared with two months ago on the global recovery woes, making it the worst performer among major 21 currencies, data showed Tuesday.The Korean unit closed at 1,195.80 won per dollar on
2012 budget prioritizes jobs, fiscal balance

Sept 27, 2011

The government proposed to increase its spending next year by 5.5 percent to 326.1 trillion won ($286.2 billion), prioritizing job creation and fiscal soundness to protect the country’s economy from ongoing debt crises abroad.The Finance Ministry said the 2012 budget plan will cut the government def
Samsung seeks iPhone, iPad sale ban in Dutch court

TechnologySept 26, 2011

THE HAGUE, Netherlands (AP) -- Samsung asked a Dutch court Monday to slap an injunction on Apple Inc. to prevent it from selling iPhones and iPad tablets in the Netherlands, saying Apple does not have licenses to use 3G mobile technology in the devices.The legal battle is the latest round in a serie
Major shake-up expected at Samsung at year’s end

IndustrySept 26, 2011

Samsung LED, one of the industrial group’s underperforming affiliates, is expected to see many of its executives pack their bags amid speculation that the company will be merged with the semiconductor division. Among the 30 or so executives, nearly half are expected to be given the pink slip, i
Korean markets slip further on U.S., EU woes

Sept 26, 2011

(Yonhap News)KOSPI drops 2.64%, Korean currency tumbles to 1,195.8 won vs. U.S. dollarKorea’s stock market had another turbulent session on Monday, with key indexes struggling with heavy sell-offs amid growing concerns over the debt problem plaguing the eurozone and recession fears in the U.S. econo
Hyundai-Kia, GM vie for No. 2 in China

TransportSept 26, 2011

Hyundai Motor and its affiliate Kia Motors have been successful in expanding their market share in China, taking 9.7 percent of the market between January and August.The companies, ranked third in the Chinese market, have the short-term goal of overtaking General Motors which posted an 11.2 percent
Samsung introduces two 4G smartphones in Korean market

IndustrySept 26, 2011

Samsung Electronics Co., the world’s second-largest mobile-phone maker, released two new smartphones here on Monday as global mobile operators move to faster fourth-generation networks. Samsung is confident that sales of the two new Galaxy handsets compatible with long-term evolution technology will
More Korean companies incapable of repaying debt

Sept 26, 2011

BOK data shows 3 out of 10 Korean firms failed to cover their debts in Q2Three out of every 10 Korean firms listed on the stock market failed to service their debt in the second quarter of this year, Bank of Korea data showed Monday. A total of 30.2 percent out of 1,491 firms said their average inte
Korea's foreign reserves 'enough' to cope with crisis: official

Sept 26, 2011

South Korea holds a sufficient amount of foreign exchange reserves to cope with any crisis, a senior finance ministry official said Monday, dismissing worries that the nation's financial system is vulnerable to foreign capital flight. Media reports speculated earlier that the nation's foreign r
Effective corporate tax rate falls in 2010

Sept 26, 2011

South Korea’s effective corporate tax rate fell more than 3 percentage points in 2010 from a year earlier as the government pushes to lower tax burdens on businesses, data showed Monday.According to the data by the finance ministry and Statistics Korea, the country’s effective corporate tax rate sto
Asiana resumes flights to Sendai

IndustrySept 26, 2011

Asiana Airlines reopened the route to Japan’s Sendai Airport on Sunday.The route was suspended in March after Japan was hit by a series of natural disasters. The resumed flight will be traveling from Incheon to Sendai Airport three times a week, every Tuesday, Thursday and Friday. The March earthqua