The Korea Herald

Korea to face slower growth on global woes

Sept 21, 2011

SERI: Dormant global economy will drag down growth to 3.6%Samsung Economic Research Institute on Wednesday said the Korean economy would grow at a slower pace of 3.6 percent next year on dormant global economic conditions.The world economy would also show slower growth of 3.5 percent nex
Vote for Jeju and ...win a Hyundai

Sept 21, 2011

Cast your vote to make Jeju Island a New 7 Wonders of Nature and you may win a Morning or a tablet PC, Hyundai Motor Co. said Wednesday. The largest carmaker here said a total of 50 successful votes will be picked by lottery by Nov. 11 when the global campaign ends. The Official ‘New7Wonders of Natu
K-pop popularity lifts entertainment shares

IndustrySept 21, 2011

Bae Yong-joonWith entertainment companies’ shares rising on the popularity of K-pop, the value of securities held by entertainers is soaring to new highs, data showed Wednesday.According to Chaebul.com, the value of SM Entertainment shares held by its chairman Lee Soo-man came in at 165.7 billion wo
Reservoirs, waterway to be open to public

IndustrySept 21, 2011

The government is set to introduce new waterways as part of its project to refurbish the country’s four major rivers, hoping to calm much-heated controversy over wilderness protection. The Ministry of Land, Transport and Maritime Affairs said Wednesday it will open to the public the 16 restored rese
SKT to reorganize divisions

IndustrySept 21, 2011

SK Telecom announced on Wednesday that it will rearrange business divisions in time for the launch of SK Planet on Oct. 1. The company also said that it will carry out an executive reshuffle. SK Planet will be a new subsidiary created by spinning off SK Telecom’s platform business.Under the plans, S
Seoul to provide W4tr in Nonghyup restructuring aid

Sept 21, 2011

The government has decided to provide 4 trillion won ($3.5 million), or 15.7 percent, of the total needed to restructure state-run National Agricultural Cooperative Federation, the Finance Ministry said Wednesday. The amount is 2 trillion won short of the 6 trillion won requested by Nonghyup, the co
Weaker won a mixed blessing for exporters

Sept 21, 2011

A rapid decline of the Korean won against the U.S. dollar is expected to boost sales of local exporters such as automakers and electronics manufacturers, analysts said on Wednesday. The depreciation of the local currency, or a drop in the value of the Korean won, is generally viewed as a factor that
NCsoft to give out signed baseballs

IndustrySept 21, 2011

NCsoft, owner of the newly created baseball team, the “NC Dinos,” will give out official balls signed by Dinos coach Kim Kyung-moon and ace baseball player Na Sung-beom as a part of an event to promote a new application.In what can be translated into “A Fun Guide to Baseball,” NCsoft’s new applicati
Amore Pacific to sponsor organic forum

IndustrySept 21, 2011

Cosmetics maker Amore Pacific on Wednesday said it would be sponsoring the 17th conference of the International Federation of Organic Agricultural Movements to be held here next month.Several of Amore Pacific’s brands such as Osulloc will be participating as sponsors, the company said.The conference
Customs seizes W42b of fake designer goods

Sept 21, 2011

Five suspected members of a South Korean smuggling ring have been arrested on suspicion of producing and selling counterfeit designer goods worth 42 billion won ($36.7 million), the country’s customs office said Wednesday.One person was held in custody and four booked without detention on charges of
Customs agency nabs W2.5tr of foreign currency violations

Sept 21, 2011

South Korea’s customs agency said Wednesday that it has clamped down on illegal foreign currency dealings worth 2.5 trillion won ($2.2 billion) so far this year.During the January-August period, the Korea Customs Service said in a report, it detected 1,145 cases of illegal foreign currency dealings
Two savings banks probed for irregularities

Sept 21, 2011

The Financial Supervisory Service said Wednesday that it has uncovered two savings banks ― Jeil and Ace ― which have issued irregular loans to ailing builders over the past few years.The regulator filed complaints the two lenders and nine other banks in the secondary banking industry with the prosec
Seoul sets W23tr for infrastructure

Sept 21, 2011

Next year’s national budget to focus on investment, welfare, job growthThe government plans to allocate 22.6 trillion won ($19.8 billion) for social infrastructure projects next year, emphasizing that the 2012 budget plan, unveiled next week will focus on upping investment in public works, welfare a
Firms at a crossroads in reinventing CSR

Sept 21, 2011

Businesses often view corporate social responsibility as a cost they have to bear in order to maximize profits. The assumption is that company’s core business, especially profits, and CSR projects are not directly related.Kang Joo-hyun, founder and executive president of Global Competitiveness Empow
Ssangyong aims at 20 percent of SUV market

TransportSept 21, 2011

Under new vision, automaker seeks to achieve yearly sales of 160,000 vehicles by 2013Ssangyong Motor has set the goal of pulling up its market share in the local sport utility vehicle industry to 20 percent within five years, from the current 14 percent.The automaker unveiled the local market share