The Korea Herald

BMW X3 with extended range of engines

TransportAug 21, 2011

Munich (DPA) ― BMW is offering the X3 Sports Activity Vehicle with an extended range of engines promising more performanceand greater fuel efficiency as well as options including a real-timetraffic information function. BMW X3From the European autumn this year the X3 will come with a choiceof three
Volvo recalls S80 sedan for steering fluid leak

TransportAug 21, 2011

Global automaker Volvo is recalling 447 cars in South Korea due to a detective hose that could lead to leakage of power steering fluid, the government said Thursday. Volvo-S80The vehicles subject to the recall are the S80 passenger sedans produced between March 8, 2006, and May 16, 2007, according t
Kia, GM Korea vie for city car sales

TransportAug 21, 2011

Kia Motors Corp. and GM Korea Co. have been in keen competition to dominate the growing “city car” market at home as high fuel prices continue to burden households.According to the Korea Automobile Manufacturers Association, local sales of automobiles with engine displacements of up to 1 liter grew
Lexus readies new GS to win sales lost to BMW, Mercedes

TransportAug 21, 2011

Toyota Motor Corp.’s Lexus, set to lose its position as the top-selling U.S. luxury car brand after 11 years, is revamping its line to regain sales lost to Daimler AG’s Mercedes-Benz and Bayerische Motoren Werke AG’s BMW. The 2013 Lexus GS 350 goes on sale in February with a new look, larger interio
Clean-energy cars on the rise in Korea

TransportAug 21, 2011

Nearly 50,000 clean-energy vehicles have been sold in South Korea as local automakers have broadened their lineups of eco-friendly cars in line with the government’s “green growth” policy, the Environment Ministry said.The aggregate number of eco-friendly cars sold in South Korea until last year sto
Kim to head Tax Tribunal

Aug 21, 2011

Kim Nak-hoe, director general of tax analysis and international tax affairs at the Finance Ministry, was picked to head the Tax Tribunal, a state agency empowered to resolve tax disputes. Kim Nak-hoeThe tax expert began his career as a public servant in 1984 at the Ministry of Government Administrat
Homeplus COO named CEO of Tesco Malaysia

IndustryAug 21, 2011

Homeplus said that its COO Do Sung-hwan has been named as the chief executive of Tesco Malaysia. Do Sung-hwanHomeplus started its operation here in 1999 as a joint venture between Samsung Group and Tesco. Currently, the U.K.-based retail giant holds almost 95 percent of company shares. In 12 y
Epson Korea says 35 million customers' data hacked

TechnologyAug 20, 2011

Epson Korea Co., the South Korean unit of Japan's Seiko Epson Corp., said Saturday that its Web site has been hacked, causing the private information of 35 million users to be leaked."We have discovered through an internal investigation that the customers' data were leaked. We apologize for causing
Apple planning early 2012 launch for new iPad: WSJ

TechnologyAug 20, 2011

NEW YORK (AFP) - Apple plans to begin trial production of a next generation iPad in October with an eye to an early 2012 launch, The Wall Street Journal reported Friday.The newspaper, citing "people familiar with the situation," said Apple is working with component suppliers and its assembler in Asi
Korea to allow foreigners-only duty free shops

IndustryAug 19, 2011

The government plans to allow foreigners-only duty free shops from next year, the Korea Customs Service said Friday. The customs agency revealed the plan during a meeting of the Presidential Council on National Competitiveness presided over by President Lee Myung-bak at Cheong Wa Dae.Under the plan,
Shares plunge on global recession woes

Aug 19, 2011

KOSPI posts year’s worst drop of 115.7 points; U.S., European, Asian stocks extend slumpKorean stocks took a pounding again on Friday following steep losses in the United States and Europe amid renewed fears of a global recession.The Korea Composite Stock Price Index posted the sharpest drop among m
LG Electronics holds fair to recruit global talents in R&D

IndustryAug 19, 2011

LG Electronics said Friday it was moving to recruit talented research and development personnel from other countries.The company held a tech conference in Tokyo on Friday, which invited 50 engineering students, including Korean students studying in Japan. A total of 20 executives in the firm’s resea
FSS urges banks to resume loans

Aug 19, 2011

FSS chief: Insurers need to brace for external uncertaintiesFinancial Supervisory Service Gov. Kwon Hyouk-se urged commercial banks Friday to resume their suspended household loans.“The FSS will instruct the banks to resume the lending,” Kwon told reporters before attending a meeting with chief exec
IBM pursues chips that behave like brains

TechnologyAug 19, 2011

SAN FRANCISCO (AP) -- Computers, like humans, can learn. But when Google tries to fill in your search box based only on a few keystrokes, or your iPhone predicts words as you type a text message, it's only a narrow mimicry of what the human brain is capable.The challenge in training a computer to be
Seoul shares open sharply lower on U.S. losses

Aug 19, 2011

South Korean stocks opened sharply lower on Friday as overnight panic selling on Wall Street froze investor sentiment here, analysts said.After opening 3.81 percent down, the benchmark Korea Composite Stock Price Index (KOSPI) sank below the 1,800-point mark. In the first 15 minutes of trading, KOSP