The Korea Herald

U.S. crisis may have little impact here: BOK

Aug 9, 2011

The historic downgrade of the U.S. credit rating late Friday and subsequent mass sell-off in equity markets around the world have threatened to hamper Korea’s economic growth, leaving few options for the central bank in its scheduled policy-setting meeting this week.Standard & Poor’s downgraded the
Bonds lure investors seeking safer assets

Aug 9, 2011

As the twin crises in the U.S. and Europe send global equity markets plunging, investors are seeking safer destinations, particularly bonds, in South Korea.The Bank of Korea said in a report on Tuesday that the yield on three-year Treasury bonds saw a drop of 30 basis points between Aug. 2-8 as inve
Bargain hunters prepare to pounce

IndustryAug 9, 2011

Analysts cautiously say it may be good time to invest in Korean stocksThe Korean stock markets this week are the Asian crisis revisited, according to many investors on Tuesday who watched with despair as the main bourse tanked in just 48 hours. None of the nation’s brokerages correctly predicted suc
Obama seeks to reassure faith in U.S. credit

IndustryAug 9, 2011

WASHINGTON (AP) ― Eager to calm a nervous nation, President Barack Obama on Monday dismissed an unprecedented downgrade in the nation’s credit rating, insisting investors will stand by the United States even as stock markets plunged. Obama said Washington can fix its ills by showing more political w
Amore Pacific’s overseas sales surge 16 percent

IndustryAug 9, 2011

Amore Pacific Corp., the nation’s largest beauty company, said Monday that it has logged 1.3 trillion won ($1.2 billion) in sales in the first half of the year, a 16 percent increase from a year earlier. During the same period, operating profits amounted to 241.5 billion won, up 4 percent, while net
Korea now No. 2 LED producer

IndustryAug 9, 2011

Local firms’ bold investment in television production and upbeat global demand turned Korea into the world’s second-largest maker of light-emitting diodes last year, the government said Tuesday.Combined sales of Korean LED manufacturers more than doubled to 6.9 trillion won ($6.35 billion) last year
Korea’s producer price growth hits 3-month record in July

Aug 9, 2011

South Korea’s producer prices grew at the fastest clip in three months in July due mainly to a hike in raw material prices and heavy rains, the central bank said Tuesday.The producer price index, a barometer of future consumer inflation, rose 6.5 percent in July from a year earlier, compared with a
Ministry’s point man on baby boomers stresses jobs for the old

IndustryAug 9, 2011

There are 7.13 million Korean baby boomers who were born between 1955 and 1963, or 14 percent of the total population. They will face difficult financial and social situations after retirement and the government should meet their different demands, Lee Ki-young, director of policy planning for baby
Coming wave of retirements may cause economic disaster for Korea

Aug 9, 2011

Experts call for measures to ensure more flexible labor markets, boost birthrateTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following
China inflation quickens to 6.5% in July

IndustryAug 9, 2011

China’s inflation accelerated to the fastest pace in three years in July, limiting the scope for monetary easing as risks to the global economy mount. Consumer prices climbed 6.5 percent from a year earlier, the Beijing-based National Bureau of Statistics said on its website Tuesday. That was more t
Former IP judge to head KIPI

IndustryAug 9, 2011

Pyo Jae-ho, a former chief judge of the Korean Intellectual Property Tribunal, was appointed as the new head of the Korea Institute of Patent Information, KIPI said Tuesday. Pyo Jae-hoKIPI said its board of directors has recently elected Pyo, a patent veteran with more than 10 years of experie
Samsung, Sony, Panasonic in 3D glasses deal

TechnologyAug 9, 2011

TOKYO (AFP) -- Japan's Sony and Panasonic and South Korea's Samsung Electronics said Tuesday they will jointly develop new standards for glasses used to watch 3D images on television, computer and movie screens.The three Asian consumer electronics giants, working with European technology firm X6D Li
Korean singles think spouse should earn at least $33,000

IndustryAug 9, 2011

Korean singles believe ideal annual income of potential partners should be at least $33,000, a poll showed on Wednesday.The research showed that while males wished for partners with annual salary of at least $30,055, females answered that the bottom line should be $37,110.Job Korea, a local online r
Kakao Talk used to capture an escaping criminal

TechnologyAug 9, 2011

The Suwon District Prosecutor’s Office reportedly arrested an escaping criminal, surnamed Kim, by utilizing Kakao Talk service, the nation-wide mobile communication network.Kim, 39, made a getaway after he was sentenced to two months of imprisonment for drunk driving in May. A criminal investigator
Stocks recoup losses on Bernanke hopes

Aug 9, 2011

US stocks open higher after Monday's routLONDON (AP) -- Speculation that the U.S. Federal Reserve may announce another round of monetary easing helped stock markets rebound Tuesday after many entered official bear market territory.Specialist Stephen D'Agostino works at his post on the floor of the N