The Korea Herald

Glass ceiling remains in S. Korea's big firms

IndustryAug 29, 2011

SEOUL, Aug. 29 (Yonhap) -- South Korean women working for big companies remain at a disadvantage in getting promotions despite calls for more female CEOs and senior managers, a report by a local think tank said Monday.The Korean Women's Development Institute (KWDI) said that as of late last year, th
Korea could lower growth outlook for this year: minister

Aug 29, 2011

South Korea could revise downward its growth outlook for this year, the nation's top economic policymaker hinted Monday, citing lingering uncertainties at home and abroad."Overall, there are downside risks (on growth)," Finance Minister Bahk Jae-wan told a forum held in central Seoul. "We stick to o
S. Korea's current account surplus hits 9-month high in July

Aug 29, 2011

South Korea's current account surplus increased to the highest level in nine months in July as exports hit a record high even amid global economic uncertainty, the central bank said Monday.The current account surplus reached US$4.94 billion in July, more than doubling from a revised $2.03 billion th
U.S. air travel disrupted

IndustryAug 28, 2011

By Shin Hyon-heeHurricane Irene triggered cancellations of thousands of flights over the weekend as the storm raced up the United States’ northeastern shore. Korean Air, Korea’s top airline, pre-canceled its routes to and from New York on Saturday and Sunday, and delayed Washington-bound services by
Kia hybrid seeks Guinness record

TransportAug 28, 2011

Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its Optima hybrid mid-size car will try to set a new Guinness World Record for the best mileage car by driving through the United States.The Guinness challenge started with an Optima sedan leaving its production plant in West
BMW expects Mercedes-Benz to start 2012 as top seller

TransportAug 28, 2011

Bayerische Motoren Werke AG’s BMW, on a pace to become the top-selling luxury auto brand in the U.S. this year, will probably be outsold by Daimler AG’s Mercedes-Benz early next year, a top executive said. Updated C-Class compact Mercedes models will go on sale later this year and probably mak
Starbucks to sell VIA instant coffee in Korea

IndustryAug 28, 2011

Korean consumers will be able to enjoy sipping instant coffee offered by Starbucks from next month, the Seattle-based company’s Korean branch said Sunday. The Korean introduction of the Starbucks VIA Ready Brew is scheduled for Sept. 16 at 363 Starbucks coffee houses here, Starbucks Korea spokeswoma
Chung’s W500b breaks Korean donation record

IndustryAug 28, 2011

Latest in an increasing number of charity pledges by nation’s tycoonsKorea’s top businessmen are relaying to make personal donations as Hyundai Motor Group Chairman Chung Mong-koo launched his own initiative on Sunday.Chung donated 500 billion won ($462 million) of his personal funds to the charity
Eyes on KT over wireless spectrum auction

IndustryAug 28, 2011

Bidding for 1.8 gigahertz bandwidth to go over 1 trillion won MondayAll eyes are now on KT Corp.’s participation in the country’s first wireless broadband spectrum auction as the company has put pause to the process Friday after the bidding price neared 1 trillion won ($928.33 million).The bidding c
POSCO takes social responsibility projects to African nations

IndustryAug 28, 2011

POSCO on Friday began works on a children’s center in Zimbabwe as part of its efforts to strengthen corporate social responsibility programs in Africa.The steelmaker’s related projects in the region began in July when it collaborated with the Korea International Cooperation Agency to send volunteers
Ssangyong wins contract in Vietnam, 1st in 11 years

IndustryAug 28, 2011

Ssangyong Engineering and Construction Co. on Wednesday signed the contract to build part of the Southern Coastal Corridor Project that runs from Vietnam to Thailand, reentering the Vietnamese market after 11 years.Since the completion of the Dami Dam in Bao Lac in the northern part of the Southeast
Moody’s Korean unit faces probe

Aug 28, 2011

FSS inspectors to investigate rating firm’s assessment of enterprisesKorea Investors Service, a local unit of U.S.-based Moody’s Investors Service, will be investigated by Korean regulators over its fairness in assessing enterprises, industry sources said.The Financial Supervisory Service, which has
Debate over electronic vs. hybrid resurfaces

TransportAug 28, 2011

LG Corp.’s announcement that it will jointly build electric cars with General Motors Friday is brining hope to Renault Samsung, which wants to sell the vehicles here. However, the debate over next-generation cars remains very much alive with Hyundai on the hybrid side.Lee Ki-sang, director of Hyunda
Facebook shutting down online Deals program

TechnologyAug 28, 2011

WASHINGTON (AFP) -- Facebook is ending a Deals program launched in April which offered online bargains like Groupon, LivingSocial and other companies."After testing Deals for four months, we've decided to end our Deals product in the coming weeks," the Palo Alto, California-based social network
Samsung to showcase 4G smartphone at industry fair in Germany

TechnologyAug 28, 2011

Samsung Electronics Co. said Sunday it will introduce a new Galaxy smartphone at an industry exhibition in Germany this week as it seeks to win consumers for fourth-generation (4G), super-fast wireless service. Samsung will unveil the 4G version of the Galaxy S II smartphone at the IFA electronics s