The Korea Herald

Korea to lower import tariffs on chili peppers

Sept 14, 2011

South Korea will reduce tariffs on imported chili peppers in a bid to control a surge in consumer prices sparked by poor domestic output, the government said Wednesday.Under the move to go into effect within the month, a 10 percent tariff will be imposed on 8,200 tons of chili pepper imports, compar
Woori Card moving to stand alone again

Sept 14, 2011

Woori Financial Group’s project to launch a stand-alone credit card operation is drawing interest as financial regulators move to sell dominant shares of the state-owned group.The financial group is scheduled to convene a board meeting this month to approve its plan to separate Woori Card from Woori
Samsung Card to sell 20% stake in Everland

Sept 14, 2011

Stake sale signals major shift in control of Samsung GroupSamsung Card Co. said on Wednesday it plans to sell its 20.64 percent stake in its affiliate Samsung Everland Inc., which acts as Samsung’s Group’s holding company, sparking keen interest about possible stake buyers.Samsung Card, which owns a
Ssangyong aims to sell 40,000 cars in Europe this year

TransportSept 14, 2011

FRANKFURT, Germany (Yonhap News) ― Ssangyong Motor Co., South Korea’s smallest automaker, aims to sell 40,000 cars in the European market in 2012 as it moves to expand its global presence, the company’s president said Tuesday.Meeting with reporters at the Frankfurt Motor Show, Ssangyong CEO Lee Yoo-
‘CEOs most worried about U.S. double-dip’

Sept 14, 2011

Nearly half of South Korean chief executive officers view a double-dip recession in the United States as the most worrisome risk facing the global economy in recent months, a poll showed Tuesday. According to Samsung Economic Research Institute’s survey of 295 CEOs, 48 percent of the respondents sai
‘Gender of heirs apparent affects chaebol business’

IndustrySept 14, 2011

The gender of heirs apparent can affect the business performance of local conglomerates, research found Sunday. Chaebul.com, a portal following the activities of larger companies, recently analyzed changes in business showings among the nation’s 20 biggest companies in which children of owners were
Local firms play catch-up on social media

IndustrySept 14, 2011

Facebook, Twitter, me2day prevail but firms lack two-way interactionsAmid the explosive popularity of mobile computing and new media, a growing number of Korean companies are hitching a ride on the wave of social networking services in one of the world’s most wired countries.Facebook, Twitter and me
ADB cuts China's economic growth estimate for this year

Sept 14, 2011

HONG KONG, Sept. 14 (Yonhap) -- The Asian Development Bank (ADB) said Wednesday it has cut its 2011 growth forecast for China, citing weak external demand from its key trading partners and the government's efforts to cool inflation.The regional lender trimmed its 2011 growth estimate for China to 9.
Apple agrees to revise iPhone repair, return policies in S. Korea

TechnologySept 14, 2011

Apple Inc. agreed to amend the iPhone repair and return policies in South Korea in response to consumer complaints about its use of refurbished products, the country's antitrust watchdog said Wednesday.The Cupertino, California-based company will replace iPhones within 30 days of purchase with new p
Kia Motors' sales in China jump in Aug.

Sept 14, 2011

HONG KONG, Sept. 14 (Yonhap) -- Kia Motors Corp., South Korea's second-largest automaker, said Wednesday its sales in China surged more than 40 percent in August as its new vehicles attracted young customers in the world's No. 1 automobile market.Kia Motors said it sold 37,748 units in August, up 40
Samsung to appeal German ban on Galaxy Tab this week

TechnologySept 14, 2011

SEOUL, Sept. 14 (Yonhap) -- Samsung Electronics Co., the world's No. 2 mobile phone maker, said Wednesday that it will appeal this week a recent German court ruling to ban sales of its tablet computer. Last week, Samsung failed to overturn a German court's sales injunction on the Galaxy Tab won by A
GE to repay Buffett for 2008 rescue

Sept 14, 2011

General Electric said Tuesday that it would pay billionaire Warren Buffett‘s company $3.3 billion, plus dividends, for the preferred shares he bought during the 2008 financial crisis.Buffett’s purchase of the preferred shares in October 2008 rescued GE in the depths of the crisis, when the company w
Facebook to organize friends in 'smart lists'

TechnologySept 14, 2011

NEW YORK (AP) _ It's a modern-day dilemma: You really want your Facebook friends to see that wild party photo of you wearing bunny ears. But you're not so keen on explaining it to your mother-in-law. Well, Facebook aims to make life easier.Beginning Wednesday, the social network will make it easier
Census: U.S. poverty rate swells to nearly 1 in 6

Sept 14, 2011

WASHINGTON (AP) -- The ranks of America's poor swelled to almost 1 in 6 people last year, reaching a new high as long-term unemployment left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in more than two decades.The Census Bureau's an
Samsung Card to sell stake in affiliate Everland

IndustrySept 14, 2011

Samsung Card Co., one of South Korea's leading credit card firms, said Wednesday it plans to sell part of its stake in its unlisted affiliate Samsung Everland Inc., the de facto holding company of Samsung Group.Samsung Card plans to sell a 20.64 percent stake in Samsung Everland and sent requests fo