The Korea Herald

Samsung, LG try to shake Android claims

IndustryAug 18, 2011

Samsung and LG, the nation’s top two electronics companies, appeared to be bristling at claims from Google’s Andy Rubin that he had unsuccessfully pitched the Android operating system to them.In the Wall Street Journal’s Aug. 17 edition, Rubin was quoted as saying he had made the proposals to both S
LG Uplus acquires most wanted radio spectrum

IndustryAug 18, 2011

Company plans to use the 2.1 gigahertz radio spectrum late next yearLG Uplus is enjoying a positive outlook after it was made official Wednesday that the firm would take home the 2.1 gigahertz radio spectrum to be used for fourth generation network technologies.The Korea Communications Commission, t
Hyundai Motor Group chief scores big in stock earnings

IndustryAug 18, 2011

Among the heads of the nation’s top 30 conglomerates, Hyundai Motor Group chairman Chung Mong-koo saw the highest increase in his market shares following the latest stock market volatility, a market researcher said Thursday. The market capitalization of stock holdings owned by Chung increased to 7.5
Korea’s retail rivals seek Vietnam expansion

IndustryAug 18, 2011

Lotte Mart plans third outlet in 2013; E-Mart to open first Hanoi store next year, 52 outlets by 2020Just two years have passed since Vietnam opened its retail sector to foreign businesses on a full scale. The Vietnamese market has grown so quickly that sales and service revenue in the retail sector
Coupang aims for NASDAQ listing

IndustryAug 18, 2011

Korean social commerce firm Coupang said Thursday it is aiming to be listed on the U.S. stock market by 2013 after cementing its position as the country’s top electronic commerce company.Kim Bom-suk, chief executive of the company, said it will also enter the overseas market to compete with global i
Korean, Australian regulators sign MOU on resource sharing

Aug 18, 2011

Korea’s financial regulators will sign a memorandum of understanding with its counterpart in Australia, the Australian Prudential Regulation Authority, to collaborate in inspecting illegal financial activities, a senior financial official in Seoul said on Thursday.Financial Supervisory Service Gov.
NPS reshuffles key investment posts

Aug 18, 2011

Chairman shows determination to cut collusive links with brokeragesNational Pension Service chairman Jun Kwang-woo replaced staff in four key posts responsible for the fund’s investment decisions Thursday, revamping the organization under fire for its staff’s involvement in corruption scandals.The w
Seoul shares dive 1.7%

Aug 18, 2011

South Korean stocks sank 1.7 percent on Thursday as investors sold off tech and shipbuilder stocks following the recent rally, analysts said. The local currency lost ground against the U.S. dollar.The benchmark KOSPI slumped 32.09 points to 1,860.58, ending a two-session gaining run. Trading volume
Foreign IBs see rate freeze for rest of year

Aug 18, 2011

Major foreign investment banks are betting that South Korea’s central bank may freeze its key interest rate for the rest of the year, citing an increase in external economic uncertainties, data showed Thursday.The Bank of Korea froze the benchmark rate at 3.25 percent last week for the second straig
Hanwha E&C to build world’s largest domed arena near Manila

IndustryAug 18, 2011

Korean builder strives to become one of the world’s 100 largest construction firmsHanwha Engineering and Construction Corp. began work on the world’s largest domed arena in the Philippines on Thursday.The work for the $175 million contract, signed on Aug. 4, got underway in a ceremony attended by Ha
S. America new investment hub for Korean firms

IndustryAug 18, 2011

SK, POSCO, Hyundai Motor, LG seek resources, new markets in the regionKorea’s leading businesses are making their forays into Latin America, which has emerged as a favored destination among global investors for its growing economy, ample natural resources and robust domestic demand.SK, POSCO, Hyunda
Korean banks curb household lending

Aug 18, 2011

Commercial banks have started to reduce household lending under the policy of enhancing risk management against a possible growth in overdue loans. A client looks a details of a loan at a bank in Seoul on Thursday. (Yonhap News)Among the banks are Woori, Shinhan and the National Agricultural Coopera
Kia Motors ranks 10th in China's auto market

IndustryAug 18, 2011

HONG KONG (Yonhap News) – South Korea's second-largest automaker, Kia Motors Corp., ranked 10th in terms of China's auto market share during the first seven months of this year, company officials said Thursday.Kia Motors said it sold 222,158 units of vehicles in China from January to July, up
Hyundai Group heiress to wed next month

IndustryAug 18, 2011

Chung Ji-yi, executive vice president of Hyundai U&I and eldest daughter of Hyundai Group chairwoman Hyun Jeong-eun, is to be wed next month, industry sources said.Chung’s groom-to-be is employed at a foreign financial company in Japan and reportedly has no ties with the conglomerate community here.
Korean banks temporarily halt household lending

Aug 18, 2011

South Korea's major banks said Thursday that they temporarily suspended the extension of fresh household loans in a bid to join the regulator's efforts to curb excessive growth of household debt.Local banks, including Shinhan and Hana, said they have begun to halt extending fresh home loans, includi