The Korea Herald

Hyundai chairman Chung to donate 500 billion won to charity

IndustryAug 28, 2011

Hyundai Motor chairman Chung Mong-koo will donate 500 billion won ($460 million) of his personal wealth to a charity foundation, company officials said Sunday.Hyundai Motor Group chairman Chung Mong-koo (right) shakes hands with an American worker during his visit to a Hyundai factory in Alabama, th
Apple gives Tim Cook 1 million shares

TechnologyAug 27, 2011

FRANCISCO (AP) — Apple has given Tim Cook 1 million shares of restricted stock as he takes over as reins of the company from Steve Jobs. At current prices, the stock package is worth more than $383 million.Cook assumed CEO duties this week when Jobs stepped aside after 14 years, saying he was
Resource development fuels SK Group’s growth

IndustryAug 26, 2011

Conglomerate shores up future with resource and petrochemicals businessSK Group has come to be the country’s third largest conglomerate fueled by its petrochemical and telecommunications businesses.The two sectors are often referred to as the conglomerate’s two pillars, but the group has now turned
SC First Bank union plans six-month partial strike

Aug 26, 2011

The labor union at SC First Bank said it would continue its strike even after returning to work next week, in its ongoing battle with management over the bank’s push to introduce performance-based pay. About 3,000 unionized workers at the local unit of Standard Chartered Plc will resume work from ne
LG, GM join hands to build electric cars

IndustryAug 26, 2011

Joint efforts to put more eco-friendly vehicles on the roadLG Corp. and U.S. automaker General Motors signed a deal to jointly build next-generation electric cars to strengthen their partnership amid the growing demand for eco-friendly vehicles, the Seoul-based company said Friday.The agreement was
AD Stars aims to be Asia’s No. 1 advertising festival

IndustryAug 26, 2011

BUSAN ― AD Stars 2011, which marks its fourth anniversary this year, is the world’s first on-offline convergence advertising festival held in Busan, Korea’s southeastern port city. “Unlike other international advertising events, the Busan festival actually takes place all year long,” said Choi Hwan-
Watchdog demands retailers...slash commission charges

Aug 26, 2011

The Fair Trade Commission has demanded major retailers cut commission they charge traders who use their floor space.The corporate watchdog plans to pressure business groups by disclosing the commission fees they charge merchants, who often have no other option but to comply to the rules set by depar
SK chairman leads support for social enterprises

IndustryAug 26, 2011

SK Group, in addition to being the country’s third-largest conglomerate, has been one of the staunchest supporters of social enterprises with its chairman Chey Tae-won taking part in related activities. “The chairman believes that simple donations have limited efficacy in solving social problems,” a
SK Telecom knocks on new doors, maintains technological edge

IndustryAug 26, 2011

Carrier sees advantage in 4th-generation techThe country’s largest mobile telecom services provider SK Telecom has been putting CDMA and WCDMA technologies to commercial use ahead of its peers both in and outside the Korean market.Since 2005, the company has invested funds equivalent to more than 14
Watchdog issues institutional caution on KEB

Aug 26, 2011

SEOUL, Aug. 26 (Yonhap) -- South Korea's financial regulator said Friday it has issued an institutional caution as well as a 54.5 million won (US$50,332) fine on Korea Exchange Bank (KEB) for breaching regulations on loan and personal information."An institutional caution and fine were imposed on th
Nokia launches its cheapest phones at $30-$35

TechnologyAug 26, 2011

HELSINKI (AP) _ Nokia on Thursday unveiled its two cheapest cellphones to date aimed at attracting users in the low end market as it fights increasing competition from Asian manufacturers.The Nokia 100 and 101 _ priced $30 ((euro) 20) and $35 ((euro) 25) respectively _ will be available in the third
Shinhan Financial to set up group management board next month

Aug 25, 2011

SEOUL, Aug. 25 (Yonhap) -- Shinhan Financial Group Co. said Thursday that it will set up a special management board next month to improve openness and transparency at South Korea's No. 3 banking group.The financial group said the board will be made up of CEOs from its six major affiliates such as Sh
Banks urge customers to change passwords

Aug 25, 2011

Amid the growing risks of private information being leaked online, financial companies are waging a security campaign to persuade customers to alter their online transaction passwords.The promoters include major commercial banks, insurance companies and credit card firms. Via their homepages, they r
POSCO to open Silicon Valley-style ideas marketplace

Aug 25, 2011

POSCO, the country’s leading steel producer, said Thursday it would create an Idea Marketplace for venture firms to trade business concepts to help small and medium enterprises.The marketplace mirrors a mechanism widely used in Silicon Valley, where startup hopefuls pitch ideas to potential investor
AD Stars 2011 kicks off in Busan

IndustryAug 25, 2011

BUSAN ― AD Stars 2011, an international advertising festival, kicked off its three-day event on Thursday in this southeastern port city of Busan.The event, which celebrates the fourth anniversary this year, was the world’s first on-offline convergence advertising festival. Some 700 advertising indus