The Korea Herald

Hanwha’s major construction projects under way

IndustrySept 21, 2011

With the aim of becoming one of the major global builders, Hanwha Engineering and Construction has successfully won large-scale construction projects nearly all over the world.One of the latest projects the company won is to build the world’s largest domed arena near Manila.In August, Hanwha began w
Hanwha E&C looks to overseas markets for growth

IndustrySept 21, 2011

Builder aims to become one of the world’s top 100 construction firms with sales of W5trHanwha Engineering and Construction is turning its attention to overseas markets to fuel its drive to become one of the world’s top 100 construction companies by 2015.Under the plans announced earlier this year, t
Creditors to allow new bidders for Hynix stake

IndustrySept 21, 2011

SEOUL, Sept. 21 (Yonhap) -- Shareholders of Hynix Semiconductor Inc. said Wednesday that they will open up the final bidding for the chipmaker in a move to secure the fairness and transparency of the sale process.Creditors-turned-shareholders of Hynix said on Tuesday that they will proceed to sell a
S. Korea's jobless rate falls to 3 percent in August

Sept 21, 2011

SEOUL, Sept. 21 (Yonhap) -- South Korea's jobless rate declined in August from a year earlier as the number of newly created jobs in the country increased, a government report showed Wednesday.The jobless rate stood at 3 percent last month, down from 3.3 percent a year earlier, according to the repo
IMF cuts Korea growth outlook to 4%

Sept 20, 2011

The International Monetary Fund on Tuesday revised down its growth forecast for Korea this year to 4 percent from 4.5 percent in its latest World Economic Outlook, citing decreasing demand for exports. It projected Korea to grow 4.4 percent in 2012.The IMF lowered the global growth outlook by 0.3 pe
Italy downgrade to hit Korean market

Sept 20, 2011

In a surprise move, Standard & Poor’s has downgraded Italy’s sovereign debt rating, a development that analysts said could affect the Korean stock and foreign exchange markets negatively at least in the short term. The rating agency cut Italian debt one notch to “A/A-1” from a “A+/A-1+” grade, citin
EUCCK elects new president

IndustrySept 20, 2011

Jean-Luc Valerio, chief of the European Aeronautic Defense and Space Company’s Korean operations, has been chosen as the new president of the European Union Chamber of Commerce in Korea, the chamber announced Tuesday.The 53-year-old Frenchman will replace Jean-Marie Hurtiger, chief executive of Rena
KITA forum to discuss global trade

IndustrySept 20, 2011

Economic policymakers, academics and industry officials from around the world will discuss challenges and strategies for international trade at a forum organized by the Korea International Trade Association. Scheduled for Sept. 26-27 in Seoul, the conference commemorates Korea’s reaching $1 trillion
Hyundai Heavy starts 2nd Russian farming business

IndustrySept 20, 2011

Hyundai Heavy Industries Co. announced on Tuesday that it has set up its second agricultural business in Russia.For the new subsidiary, Hyundai Mikahailovka Agro, the shipbuilding conglomerate took over the Asinovka farm located 150 kilometers north of Vladivostok.According to Hyundai Heavy’s estima
Hynix sale to go ahead as scheduled

IndustrySept 20, 2011

Auction will be carried out with SKT as sole bidderCreditors of Hynix Semiconductor Inc. have decided to continue with selling the company on schedule, Korea Exchange Bank said Tuesday.After STX Group pulled out of the bid on Monday, market watchers had raised concerns that the process would be dela
Savings banks to tap public funds soon

Sept 20, 2011

Suspended banks are expected to be auctioned off in the coming monthsFinancial regulators will inject taxpayers’ money, projected at about 500 billion won ($454 million), into the distressed savings banking sector by the end of this year.Under the policy of the Financial Services Commission, the Kor
Design helps cities gain more environmental sustainability

IndustrySept 20, 2011

Following is the third 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.Richard Register is an American specialist in ecological city design and planning who created the term “ecocity” in the late 1
Hyundai Group to enter telecom market

IndustrySept 20, 2011

Conglomerate mulls joining consortium formed by SME associationHyundai Group is poised to once again try its hand in the information and communication industry, as the company was found to have decided to participate in a consortium seeking to set up a telecom service provider. Hyundai is considerin
Seoul begins taking blackout damage claims

IndustrySept 20, 2011

The South Korean government began accepting claims Tuesday from businesses who suffered losses from blackouts caused by low electricity reserves last week.A total of 167 claims had already been filed at 294 centers throughout the nation, according to the Ministry of Knowledge Economy.The government
World’s cheapest car now covered with gold, jewels

IndustrySept 20, 2011

The Indian automobile giant Tata Motors unveiled the latest version of its signature Nano car crafted in gold, silver and gemstone on Monday in Mumbai.The jewel encrusted GoldPlus Nano is covered in 80 kilograms of 22 carat gold and 15 kilograms of silver, according to local reports. It also fe