The Korea Herald

Hyundai, Kia divide roles in eco cars

TransportSept 19, 2011

Hyundai to focus on hybrids, Kia on electric vehiclesHyundai Motor Group plans to carry out a role-sharing between Hyundai Motor and its affiliate Kia Motors in developing eco-friendly cars.Hyundai Motor will take on developing models of “plug-in hybrids,” which utilize rechargeable batteries, and h
‘Stalking’ phone app causes alarm

TechnologySept 19, 2011

Spy software that can be installed in a smartphone to monitor the activities of the phone’s user has sparked controversy and drawn complaints to the company that makes it.The “Karelog” downloadable software application, released on Aug. 30, enables users to see the current whereabouts, phone call lo
Gov't steps up efforts to calm markets, uneasy investors

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korean financial regulators on Monday ramped up efforts to alleviate market concerns as deposit holders rushed to savings banks to check on their accounts and withdraw their money on fears the impact of the recent six-month suspensions will further hurt the ailing s
STX drops bid for Hynix stake

IndustrySept 19, 2011

STX Group, a South Korean shipbuilding and shipping conglomerate, said Monday that it has decided to drop its bid to buy stakes in Hynix Semiconductor Inc., citing global uncertainties and the size of future investments needed to bolster competitiveness of the world's No. 2 memory chipmaker.STX Grou
Individual retirement pension market likely to reach 82 tln won in 2030: report

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korea's individual retirement pension market will likely reach 82 trillion won (US$72.4 billion) in 2030, an industry report showed on Monday.The country's financial regulator is planning to introduce the individual retirement pension scheme in July next year, under
Oil taxes more than half of gasoline price at pumps

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- Taxes levied on gasoline sold at local pumps accounted for 54.7 percent of consumer prices, a government report said Monday, fueling public demand for lowering oil taxes on petroleum products that have risen in recent months.According to the report submitted to the annual
Savings banks' massive illegal loans revealed

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korean savings banks were discovered to have extended illegal loans to their major shareholders, financial regulators said Monday, angering depositors and fueling anxiety following the suspension of seven local savings banks.The data comes a day after the Financial
Hana SK Card's customer data leaked

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- Hana SK Card Co., a South Korean credit card firm, said Monday that some 200 customers' personal information has been leaked, the latest in a series of security breaches that are spurring concern about private data protection. The card firm, a joint venture between Hana F
KT to launch mobile payment service for iPhone

TechnologySept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korea's telecom titan KT Corp. said Monday that it will roll out a new service for Apple Inc.'s iPhone, which will turn the smartphone into a mobile wallet for wireless financial transactions. The country's second-largest mobile operator plans to introduce a new sma
S. Korean workers' real income growth slows amid high inflation: report

Sept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korean workers' monthly wages grew at a faster pace than other major economies last year, but inflation-adjusted income growth was behind other countries due to rising prices, a report showed Monday.South Korean workers' nominal wages came to 2.02 million won ($1,81
Nuclear reactors in S. Korea suffer numerous stoppages

IndustrySept 19, 2011

SEOUL, Sept. 19 (Yonhap) -- South Korea‘s government said Monday that there were a total of 91 failures in operations of nuclear reactors in the country over the past 10 years due to mechanical glitches and other problems.In a report to the National Assembly, the Ministry of Knowledge Economy said t
LG to release new smartphone with QWERTY keypad

IndustrySept 18, 2011

LG Electronics Inc., the world's third-largest handset maker, said Sunday that it will launch a new smartphone model here in South Korea next week that targets young consumers who prefer computer-like QWERTY keyboards.The Optimus Q2 is equipped with a 1.2 GHz dual core processor, 4-inch display, 500
Minister Choi lukewarm on calls for resignation

Sept 18, 2011

The Ministry of Knowledge Economy announced measures to prevent power outages similar to that of Thursday recurring on Sunday.Minister of Knowledge Economy Choi Joong-kyung, however, did not announce plans to step down despite widely held opinion that he would. At a press briefing on Sunday, Choi sa
Seoul to compensate for power outage damages

Sept 18, 2011

The Ministry of Knowledge Economy announced Sunday that those who sustained damages in Thursday’s blackouts can file for compensation from Tuesday.Minister of Knowledge Economy Choi Joong-kyung said that claims can be filed at Korea Electric Power Corp. offices, support centers for small merchants,
Korea to overhaul credit card industry

Sept 18, 2011

The Financial Services Commission said on Sunday it would draw up a comprehensive plan to restructure the troubled credit card industry, which is under criticism for pursuing rapid expansion at the risk of generating market bubbles.“The average number of credit cards held by a single individual rose