The Korea Herald

Bosses steal workers’ ideas: poll

IndustryAug 18, 2011

More than half of Korean workers received unfair treatment from their bosses when proposing new ideas, a poll showed on Thursday.(MCT)　According to Career, a local recruitment website, about 56.6 percent of the 380 respondents said they had being treated unfairly after handing in their proposals.　Ab
Chaebol’s market dominance at record high in manufacturing

Aug 17, 2011

The 10 largest conglomerates pocketed a massive 41 percent of the total revenue of the manufacturing industry in the past five years, the largest portion ever, showing the ever growing dominance of a handful of chaebols against Seoul’s pursuit for shared growth. More than half of listed manufacturin
German court overturns EU ban on sale of Galaxy Tab

IndustryAug 17, 2011

A fierce patent battle between the two global tech giants ― Samsung Electronics and Apple Inc. ― is taking a new turn after a German court reversed last week’s injunction against the sale of the Galaxy Tab 10.1 across Europe. The decision means that Samsung can sell its Galaxy Tab 10.1 in most Europ
Country’s first bandwidth auction takes place

Aug 17, 2011

The Korea Communications Commission on Wednesday held the country’s first wireless broadband spectrum auction, participated by all three mobile carriers, with the bidding scheduled to continue Thursday.Two leading mobile carriers, SK Telecom and KT Corp., competed to take home the 1.8 gigahertz radi
SC First Bank pinning hopes on compromise to end extended strike

Aug 17, 2011

Management at Standard Chartered First Bank Korea is pinning hopes on a compromise with unionized workers to end their months of labor strikes.The hope for settlement of the labor dispute that started on June 27 over the company’s move to introduce a performance-based wage system is coming as the go
MBK sole preliminary bidder for Woori Finance stake

Aug 17, 2011

Government may launch fresh round of bidding process to find investorMBK Partners submitted a preliminary bid for a stake in Woori Financial Group on Wednesday, becoming the sole bidder among the three potential private equity funds.The other two contenders ― Vogo Fund and T-Stone ― dropped out of t
Samsung braces for future uncertainties

IndustryAug 17, 2011

Lee holds series of meetings as Korea’s top company faces challenges from global, industry-wide woesSamsung Group appears to be struggling to weather the latest global economic uncertainties stemming from troubles in some of the world’s largest economies, coupled with industry-embedded problems such
Regulators express unease over financial groups’ dividends

Aug 17, 2011

Korea’s four major financial groups have been paying high dividends to shareholders compared to those paid by other listed companies, financial industry data showed Thursday.As foreigners account for a great portion of their shareholding structure, there has been anxiety over a capital flight in the
Financial market recovering: Bahk

Aug 17, 2011

Seoul shares extend run of gainsFinance Minister Bahk Jae-wan Wednesday vowed to closely monitor the market as it stabilizes on improved prospects.“Financial markets at home and abroad are stabilizing ... but concerns over possibly drawn-out fiscal woes in Europe and an economic slowdown in the U.S.
Uniqlo’s biggest Asian flagship store in Seoul

IndustryAug 17, 2011

Uniqlo, a global casual wear brand run by Japan’s Fast Retailing Co., said Wednesday that it will open Asia’s biggest flagship store in downtown Seoul later this year to strengthen its presence here.The store, to be located in Myeongdong, one of the main shopping districts in Seoul, will be Uniqlo’s
Local handset makers brace for Google’s Motorola buy

IndustryAug 16, 2011

With Google Inc. inking a deal with Motorola Mobility to acquire the mobile phone maker for $12.5 billion Monday, local handset makers are bracing for changes the surprise takeover is expected to bring.While it was seen as positive in terms of patent protection for Android-powered smartphones becaus
Hyundai firms plan W500b charity foundation

IndustryAug 16, 2011

Hyundai Heavy Industries and some other companies bearing the Hyundai name will set up a charitable foundation with 500 billion won ($467 million), the shipbuilder announced Tuesday.Much of the fund will be raised by Hyundai Heavy Industries and its subsidiaries, and the group’s largest shareholder,
KT&G to raise social spending

IndustryAug 16, 2011

KT&G Corp., the country’s largest cigarette maker, plans to raise the proportion of annual revenues injected into corporate social responsibility projects to 3 percent.The target was included in the company’s long-term social contribution plans announced Tuesday.KT&G CEO Min Young-jin said in a stat
CJ CheilJedang to build plant for animal feed amino acid in Malaysia

IndustryAug 16, 2011

CJ CheilJedang, Korea’s largest food maker, said Monday that it will establish the world’s first methionine plant in Malaysia next year. In April, CJ sealed a deal with France-based chemical firm Arkema to make an investment of more than $400 million in Kerteh, Terengganu State of Malaysia. If
Korea seeks stock market balance

Aug 16, 2011

Top regulators and heads of banking groups meet to discuss market stabilityKorea’s financial regulators and heads of banking groups agreed on the need to reduce the importance of foreign investors in the stock market, officials said Tuesday.It was the first time that the nation’s financial authoriti