The Korea Herald

Osstem Implant fined for illegal rebates

IndustrySept 26, 2011

The Fair Trade Commission said Monday that it has fined three dental equipment makers 127 million won ($106,000) for giving illegal rebates. It is the first time that the state-run antitrust regulator has found illegal marketing practices prevalent in the medical equipment market as well as in the p
Online tax paying system lacks security: lawmaker

IndustrySept 26, 2011

A lawmaker on Monday alleged that HomeTax, the government’s online tax payment system, is exposed to the threat of hacking and lacks adequate security. Currently, about 5.22 million Korean taxpayers, most of them business owners, are using the system due to benefits such as tax cuts. According to Re
Solid bank profits expected in Q3

Sept 26, 2011

KB Financial Group projected to record about 670 billion won in net profits: analystsIt is estimated that four major financial groups and their banking units will secure robust performance during the third quarter, according to analysis by local securities firms.Securities firms such as Kyobo,
Korea to become ninth in world with $1tr trade

IndustrySept 26, 2011

Trade volume growth sets important precedent for developing nationsSouth Korea’s trade volume reaching $1 trillion is a miracle that has significance not only for Korea but for developing countries, Korea International Trade Association chairman SaKong Il said Monday. With Korea’s trade volume, incl
Major reshuffling expected at Samsung at year’s end

IndustrySept 26, 2011

Executives at Samsung LED, Samsung Mobile Display expected to pack their bags 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
China launches gold vending machine

IndustrySept 26, 2011

BEIJING (AFP) - China, already the world's second largest bullion consumer, has installed the country's first gold vending machine in a busy shopping district in Beijing, state media said Sunday. This photo shows the first customer to use the country's first gold vending machine displaying her gold
Samsung unveils 2 4G smartphones in Korea

TechnologySept 26, 2011

Samsung unveils 2 4G smartphones in KoreaSamsung 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 (4G) networks. Samsung is confident that sales of the two new Galaxy handsets
Korea’s debt risks rise on global woes

Sept 25, 2011

Spread on credit default swaps rises above 2 percentKorea’s sovereign default risks went up last week as the Korean won and the main stock index confronted a selling spree amid growing concerns over the country’s wobbly financial market battered by the deepening fiscal crisis in Europe. The spread o
10m Galaxy S II handsets sold

IndustrySept 25, 2011

South Korea’s Samsung Electronics, the world’s second-largest mobile phone maker after Nokia, said Sunday it had sold 10 million Galaxy S II smartphones worldwide since the device debuted in April. Sales of the new model, an upgraded version of the firm’s flagship smartphone, had doubled in two mont
LG to invest 8 trillion won in eco-friendly projects

IndustrySept 25, 2011

LG Group said it would push green energy business forward on a strategy titled “Green New Business.” Under the plan, the country’s second-biggest conglomerate aims to generate 10 trillion won ($8.5 billion) in revenue from green business by 2015, and become a leader in the electric vehicle parts, ph
Regulator to toughen rules on inter-trading by subsidiaries

IndustrySept 25, 2011

Companies doing business here will face tougher rules on inter-subsidiary dealings from as early as the end of December, antitrust authorities said Sunday. The Fair Trade Commission on Sunday put a revision to the antitrust law on public notice with an aim to step up its vigilance on illegal inter-a
Asiana sponsors Yeosu Expo

IndustrySept 25, 2011

Asiana Airlines CEO Yoon Young-doo (right) and Organizing Committee for Expo 2012 Yeosu Korea chairman Kang Dong-suk pose after signing the sponsorship contract in Incheon International Airport on Sunday. (Asiana Airlines)Asiana Airlines signed on as an official sponsor of International Exposition Y
Specter of 2008 financial crisis looms again

Sept 25, 2011

Korean authorities face volatility amid deepening eurozone debt problemThe 2008 financial crisis sparked by the bankruptcy of Lehman Brothers in the U.S. is still fresh in the minds’ of Korean investors and policymakers. Now eerily similar developments are sweeping the country’s financial market as
Korean retailers aim to cash in on Chinese golden week

IndustrySept 25, 2011

Korean retailers are launching promotions to target Chinese golden week, which starts Saturday. Industry sources expect that more than 2 million Chinese people will travel abroad during the seven-day holiday starting on Oct. 1, China’s national foundation day. With tens of thousands of Chinese touri
Deutsche Bank employee faces prosecution probe

Sept 25, 2011

One more employee of Deutsche Bank AG will likely be subject to criminal investigation in Korea on suspicion of engaging in irregular stock trading, according to the Financial Supervisory Service.FSS officials allege that an employee of Deutsche Bank rigged the price earnings ratio during his tradin