The Korea Herald

LCD prices hit record low on oversupply, weak demand

TechnologySept 7, 2011

Prices of liquid crystal display panels, a key export item for South Korea’s technology firms, plunged to all-time lows on oversupply and weak demand, industry data showed Wednesday. The latest data compiled by DisplaySearch showed that not only the prices of large-size LCD panels for TVs, but also
Hite-Jinro unveils corporate identity, vision

IndustrySept 7, 2011

Hite-Jinro Group has unveiled its new vision to enter the global market as it relaunches after merging Korea’s top beer and soju makers into a single liquor giant.Hite Brewery Co., the country’s biggest beer producer with a 55.8 percent stake in the Korean market as of last year, took over Jinro Co.
Apple’s iPhone to overtake Nokia on smartphone shipment: report

IndustrySept 7, 2011

U.S. IT giant Apple is set to become the world’s largest smartphone manufacturer by volume, overtaking Nokia, a report showed on Tuesday.According to DigiTimes, a Taipei-based daily, Apple is expected to take 19 percent of the global smartphone market with shipments of 86.4 million units this year.
After raid, Google vows cooperation with Korea's anti-trust probe

IndustrySept 7, 2011

WASHINGTON (Yonhap) -- Google Inc. said Tuesday that it will cooperate with South Korea's investigation into its alleged unfair business practices, as reports said the local authorities raided the firm's Seoul offices.South Korea's Fair Trade Commission (FTC) raided the offices earlier in the day as
Kookmin Bank secures $100m FX credit line

Sept 6, 2011

South Korea’s top lender Kookmin Bank has recently inked a $100 million foreign currency committed line with an overseas financial firm, sources said Tuesday, joining other banks seeking to diversify their foreign funding.Kookmin is also in talks with other foreign financial companies to expand its
Korea faces high inflation, growing uncertainties

Sept 6, 2011

South Korea is faced with growing inflationary pressure and expanded economic uncertainties stemming from worries over a global slowdown, the Finance Ministry said Tuesday.“Our economy is confronted with fast accelerating inflation that stands in the 5 percent range with some latest indicators falte
SK Networks may sell school uniform business

IndustrySept 6, 2011

SK Networks is seeking a buyer to take over its uniform business, local media reported Tuesday.According to reports citing an unidentified SK Networks official, the company is looking for a buyer, and a number of potential buyers conducted preliminary due diligence on the matter last week.The compan
Merck showcases solar materials in Germany

IndustrySept 6, 2011

Merck KGaA, a multinational pharmaceutical and chemical group, said Tuesday it is showcasing its newest components of a solar power system at a tradeshow in Germany this week.About 950 companies and organizations from more than 100 countries gathered in Hamburg to catch up on the latest trends and d
Retail giants agree on commission cut

IndustrySept 6, 2011

The Fair Trade Commission said Tuesday that major retailers have agreed to lower the commission they charge traders who use their floor space from October.According to the antitrust regulator, FTC chairman Kim Dong-soo and 11 CEOs of department stores, discount chains and home-shopping channels reac
Real income growth lowest in 2 years

Sept 6, 2011

Korea’s economic growth slightly up from estimate thanks to public spendingKoreans saw the growth rate of their purchasing power fall to a two-year low during the second quarter of 2011, though the index inched up.The Bank of Korea said Tuesday that the gross national income inched up 0.6 percent to
Korea now 7th-largest builder

IndustrySept 6, 2011

South Korea took up the seventh position in the global construction market in terms of combined orders won by its builders last year, a trade association said Tuesday.The Korea Federation of Construction Contractors said South Korea’s 11 construction firms clinched a combined market share of 4.8 per
Airlines to hire record number of staff

IndustrySept 6, 2011

Korean Air and Asiana Airlines, Korea’s two plan to hire a record number of new employees this year.Korean Air said Monday it will add 330 new crew members to the 1,000 already hired in the first half of the year to smooth operation of new aircraft and routes.Asiana plans to bring in 465 young skill
Banks told to slash...rates on overdue loans

Sept 6, 2011

The Financial Supervisory Service said Tuesday that it would ease the burden on consumers by instructing banks to slash additional interest rates on overdue loans.The measure comes as part of the regulator’s policy to enhance consumer rights while low- and middle-income households suffer from high a
‘Integration of supply chain key to meat exports’

IndustrySept 6, 2011

HORSENS, Denmark ― For struggling local red meat producers in the post-Korea-EU FTA market, the surest way to seek advice was to go to Danish Crown, Europe’s top pork exporter that continues to expand despite one of the world’s highest production costs.At the Danish livestock farmer co-op’s slaughte
‘Samsung moves to adopt new 3-D display technology’

IndustrySept 6, 2011

An LG executive said Tuesday that the firm’s rival Samsung Electronics is moving away from the active 3-D display technology and develop its own “passive” technology for its TVs.The executive, who wished to remain unidentified, said that Samsung will adopt the passive 3-D technology although it will