The Korea Herald

Technical problem causes flight delays

IndustrySept 15, 2011

A one-hour computer glitch delayed nearly 20 flights on Wednesday morning at Incheon International Airport, the government reported Thursday.Some part of the control systems at the airport’s air traffic center had not functioned properly starting 10:30 a.m., the Ministry of Land, Transport and Marit
Brokerages boost baby boomer R&D

Sept 15, 2011

Firms see fresh opportunity in providing new retirement-related asset managementSouth Korea’s major brokerages houses are setting up research centers targeting the country’s baby boomer generation in a bid to take a share in potentially huge securities-related markets.The term “baby boomers” refers
Forestry chief seeks N.K’s participation in global forum on desertification

IndustrySept 15, 2011

Korea Forest Service Minister Lee Don-koo said he would seek North Korea’s participation in the 10th U.N. Convention to Combat Desertification conference that opens Oct. 10 in Changwon, a southeastern city of South Korea.Speaking at a news conference in Daejeon on Wednesday, Minister Lee said he wil
Korea readies for Changwon Initiative on desertification

IndustrySept 15, 2011

Officials and experts from over 190 countries will gather in Korea for UNCCD conferenceMinisters, senior government officials and experts from more than 190 countries will gather in Changwon, South Gyeongsang Province, next month to devise fresh plans to combat desertification.The Korean government,
BASF Korea appoints new head

IndustrySept 15, 2011

BASF Korea, the local unit of the global chemicals group, said Thursday it has promoted Shin Woo-sung, head of its human resources division, to new chief executive.Shin, 54, will replace Cho Chin-wook, whose five-year term is expiring on Sept. 30. Shin Woo-sungA graduate of Seoul National Univ
Samsung develops low-power DRAM chips for servers

TechnologySept 15, 2011

SEOUL, Sept. 15 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, said Thursday that it has developed a new low-powered dynamic random access memory (DRAM) chips based on the 30-nanometer class technology. The 16-gigabyte, DDR3 Registered Dual Inline Memory Module (RDIMM) fo
S. Korea closely watches currency market situations: finance ministry

Sept 15, 2011

SEOUL, Sept. 15 (Yonhap) -- South Korea is closely watching currency market conditions as volatility increases amid growing concerns over fiscal woes in Europe, a senior finance ministry official said Thursday. "In any direction, excessive fluctuations in the currency exchange rates are not desirabl
Citibank Korea pays highest salary among lenders

Sept 15, 2011

Citibank Korea Inc. paid the highest salary among major banks in the country in the first half of this year, industry data showed Thursday. The South Korean unit of the U.S.-based Citigroup Inc. paid an average of 6.17 million won (US$5,593) a month to its workers in January-June period, according t
Computer glitch grounds flights at Incheon airport

IndustrySept 15, 2011

More than a dozen flights were temporarily delayed Wednesday due to a glitch in the computer system of the air traffic center at Incheon International Airport, the government said Thursday.No accidents or casualties were reported, but it resulted in several flight delays, according to the Ministry o
French bank downgrades to have 'limited' impact on Korean financial firms: watchdog

Sept 14, 2011

The credit downgrades of two major French banks will have a "limited" impact on the health of South Korean financial companies as their exposure to those lenders remain quite small, Seoul's financial watchdog said Wednesday.Earlier, Moody's Investors Service, one of the world's major credit appraise
Market slides as European debt crisis deepens

IndustrySept 14, 2011

Seoul stocks tumbled 3.52 percent to 1,749.16 on Wednesday as investors abandoned trade-dependent market assets on the European fiscal saga. The won ended 2.75 percent down against the U.S. dollar at 1,107.8, as investors chased safer assets. It was the biggest daily percentage drop since a 2.76 per
Apple to revise rules on replacing faulty iPhones

IndustrySept 14, 2011

An office worker, surnamed Kim, has replaced his iPhone 15 times in the 20 days since he purchased it. Kim’s is not a rare case in Korea, where Apple, the California-based handset maker, has offered a very limited after-sales service policy. Despite frequent glitches and failures, it is difficult fo
Gold has been most profitable since Lehman Brothers’ collapse

Sept 14, 2011

Gold has been the most profitable investment vehicle since the collapse of Lehman Brothers Holdings in 2008, a survey showed Wednesday.According to the data compiled by the Yonhap news agency through banks and securities firms, the price of gold has increased 137.5 percent since the U.S.-based finan
Hyundai ups sales forecast to 4m on European ambitions

IndustrySept 14, 2011

Hyundai Motor Co. said it expects to post sales of more than 4 million vehicles globally this year, stretching its previous target of 3.9 million on higher hopes for the European market.Unveiling the new generation of the i30 compact at the 2011 Frankfurt Motor Show on Thursday, Hyundai Motor vice c
Samsung to file appeal vs. Apple in Germany

TechnologySept 14, 2011

German media critical of court’s ban on sale of Samsung Galaxy tabletSamsung Electronics Co., the world’s second-biggest mobile phone maker, said on Wednesday it will file an appeal this week in a bid to overturn the latest German court ruling that bans sales of its tablet computer Galaxy Tab.