The Korea Herald

Questions arise over loan controls

Aug 30, 2011

Skepticism emerges on real role of financial authoritiesTop financial regulators’ move to curb the growth of household lending in the banking sector doesn’t appear to have gained widespread support, even among ordinary regulatory officials.Financial Services Commission chairman Kim Seok-dong has rep
IFA 2011 to feature new wireless gadgets, 3-D TVs

TechnologyAug 30, 2011

Samsung plans to unveil new Bada phones; LG readies smart 3-D TVs with new contentLocal firms are preparing to showcase a wide range of wireless gadgets as well as 3-D TVs for the global trade show IFA which is scheduled to be held from Sept. 2-7 in Berlin.LG Electronics, which is expected to concen
Two ramyeon brands face mixed fates

IndustryAug 30, 2011

Two prominent figures in Korea’s instant noodle industry gambled with new products this year, with totally different consequences revealed on Tuesday. Nongshim, the nation’s largest instant noodle maker, announced Tuesday it has decided to stop producing Shin Ramyun Black, whose sales started four m
Amazon tablet seen as worthy iPad rival

IndustryAug 30, 2011

With Amazon reportedly poised to launch a tablet computer, technology research firm Forrester is predicting the device could be the first legitimate challenger to Apple's iPad.Forrester Research analyst Sarah Rotman Epps, in a blog post accompanying a report released Monday, said Amazon taking on Ap
LS Cable develops electric car charger

IndustryAug 29, 2011

LS Cable and System has become the first Korean firm to develop a portable electric vehicle charger, the company announced Monday.According to the company, the charger supplies 3.3 kilowatts of electricity to the vehicle using the standard outlet installed in homes. The device can fully recharge bat
Hyundai Motor to offer suppliers advance payments

Aug 29, 2011

Three major units of Hyundai Motor Group have decided to pay their subcontractors in advance ahead of the Chuseok holidays.There are about 2,800 Hyundai subcontractors, with the advance payments for their coming auto parts supply to total 1.15 trillion won ($1.06 billion), group officials said Monda
SKT wins coveted wireless spectrum

IndustryAug 29, 2011

Fierce bidding for the 1.8 GHz bandwidth ends at 995 billion wonSK Telecom acquired the 20-megahertz band of the 1.8 gigahertz range for 995 billion won ($926.67 million) in the country’s first wireless broadband spectrum auction after its rival KT Corp. withdrew from the competition on Monday.The K
Gold still No.1 reward for long-serving workers

IndustryAug 29, 2011

Amid soaring gold prices, companies maintain gold reward for long-term workersLotte Department Store, a leading retailer, has maintained a unique reward system for long-term employees for more than 20 years ― offering a gold nugget. Starting with the 10 dons of gold given to workers who have worked
BASF to invest in Korea

IndustryAug 29, 2011

The chemicals company BASF SE will begin looking ofr a Korean firm to invest in, on Tuesday as part of the Global Alliance Project Series program, the Ministry of Knowledge Economy announced Monday. Through the program, the German chemicals giant will present investment plans to local battery and or
Korea unveils world’s largest tidal power plant

IndustryAug 29, 2011

Korea introduced the world’s largest tidal power plant on Monday, eight years after it broke ground for a project aimed at boosting renewable energy use. The facilities in Sihwa on the western outskirts of Seoul will enter full-fledged operation in December with a total capacity of 520 megawatts, th
Samsung’s insurance units top payment reserve lists

Aug 29, 2011

Samsung Life and Samsung Fire & Marine hold the largest payment reserves among local life and non-life insurance companies, according to the Financial Supervisory Service.FSS data showed that Samsung Life holds 99.1 trillion won ($91.7 billion) in provisions for insurance payments to customers, topp
BAT Korea eyes premium cigarette market in Korea

IndustryAug 29, 2011

Company targets sector that grows fastBritish American Tobacco Korea is striving to shore up its presence in the Korean market with premium cigarette products.The Korean unit of the global manufacturer has been diversifying its portfolio of pricey cigarettes with Dunhill and Kent brands in a bid to
BAT Korea committed to social contribution

IndustryAug 29, 2011

British American Tobacco Korea is shoring up its social responsibility efforts through community services and funds for social enterprises and cultural foundations.The multinational group’s local unit said it has been striving to map out campaigns that contribute to Korean society, offering more tha
Apple wins more delay from Samsung in Australia tablet sale

TechnologyAug 29, 2011

Apple Inc. won a further delay in the release of Samsung Electronics Co.’s newest tablet computer in Australia, with the South Korean company agreeing not to sell the Galaxy Tab 10.1 until the end of September. Apple, based in Cupertino, California, sued Samsung in Sydney Federal Court last month, c
SK Telecom wins 'golden' spectrum license for 995b won

TechnologyAug 29, 2011

SK Telecom acquired the 20-megahertz band of the 1.8 gigahertz range for 995 billion won ($926.67 million) in the country’s first wireless broadband spectrum auction after its rival KT Corp. withdrew from the competition on Monday.The Korea Communications Commission said KT decided to raise the whit