The Korea Herald

S. Korean shares likely to be rocked by uncertainties next week

Aug 6, 2011

South Korean stocks are expected to face a considerable amount of uncertainties and volatile sessions next week following the downgrading of the U.S. sovereign credit rating, analysts said Saturday.Market experts said that the decision by Standard and Poor's Rating Services (S&P) to lower the credit
Bank of Korea sees no big impact from U.S. rating cut

Aug 6, 2011
S. Korea monitoring market response to S&P's U.S. credit rating cut

Aug 6, 2011

South Korea is closely monitoring financial market developments following the move by Standard and Poor's Rating Services (S&P) to downgrade the sovereign credit rating of the United States, the government said Saturday.The Ministry of Strategy and Finance said that it will concentrate on controllin
Kyungeun Savings Bank suspended for six months

Aug 5, 2011

South Korea's financial watchdog on Friday suspended the operation of a local savings bank for six months, citing its capital shortage.Kyungeun Mutual Savings & Finance will be suspended until Feb. 4, as it failed to meet regulatory capital requirement, the Financial Services Commission said in a st
KOSPI plunges below 2,000; Won drops on global woes

Aug 5, 2011

Stumped by worries over the global economy and falling oil prices, the country’s benchmark Korea Composite Stock Price Index fell below the 2,000 mark for the first time since March 18.The KOPSI, which began to dip on Tuesday, continued the decline to close at 1943.75 points on Friday, down 3.7 perc
Wall St. plunge could worsen economy’s troubles

IndustryAug 5, 2011

WASHINGTON (AP) -- The two-week plunge in stock prices is signaling economic anxiety, but it’s also compounding the problem: Lower stock prices are shrinking Americans’ wealth, rattling their confidence and making them less inclined to spend.And employers may become even slower to hire.The Dow Jones
Cyworld, Nate face more legal woes

TechnologyAug 5, 2011

Two users file for compensation as more seek class actionSK Communications’ legal woes are expected to deepen as more people are seeking compensation from the company for allowing the leaking personal information it gathered from members of Cyworld.com and Nate.com. The move, if it becomes a nationw
Samsung’s Lee, wife donate W12 billion to Won Buddhism

IndustryAug 5, 2011

Samsung Electronics Chairman Lee Kun-hee and his wife Hong Ra-hee have donated a total of 12 billion won ($11.2 million) since last year to help build a Won-Buddhist temple in New York, industry sources said Friday.Hong is known to be a devoted follower of Won-Buddhism, a Buddhist sect originating from Korea. Lee has no religion. Established in 1916, Won-Buddhism aims to modernize and rejuvenate Buddhism by using conventional teachings for practical purposes.Samsung Electronics Chairman Lee Kun-
Morning named best foreign small car in Germany

IndustryAug 5, 2011

Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its Morning has been named the best foreign-made small city car and low-cost passenger vehicle in Germany.The car, sold in the European market as the Picanto, ranked first among imported city cars evaluated by Auto Bild and t
Samsung, LG phones stay top in N. America

IndustryAug 5, 2011

South Korean mobile phone giants Samsung Electronics Co. and LG Electronics Inc. retained their leading positions in the North American market for a 12th straight quarter in the April-June period, an industry report showed Friday.Samsung, the world’s second-largest cellphone maker, sold 13.8 million
GM surpasses Toyota as largest automaker

IndustryAug 5, 2011

General Motors Co. outsold Toyota Motor Corp. globally in the first six months to become the world’s largest automaker after the record March earthquake disrupted production in Japan.GM sales rose 8.9 percent to 4.536 million units in the half-year ended June 30, the Detroit-based automaker said in
French court orders...probe of IMF chief

IndustryAug 5, 2011

PARIS (AP) ― A French court on Thursday ordered an investigation into new IMF chief Christine Lagarde’s role in a $400 million arbitration deal in favor of a controversial tycoon.Investigators will open an inquiry this week into possible charges of “complicity to embezzlement of public funds” and “c
Air France ban female staff from serving Strauss-Kahn

IndustryAug 5, 2011

Air France had allegedly forbidden female flight attendants from serving the ex-IMF chief as he had sexually harassed the staff, according to reports.Dominique Strauss-Kahn, now accused of attempting to rape a hotel maid in New York, had been harassing female staff on flights so frequently that the
Pilot from missing Asiana aircraft had $1.4 million debt

IndustryAug 5, 2011

The missing captain from an aircraft that crashed near Jeju Island last month reportedly had massive debts from guaranteeing a relative’s loan.Speculation concerning the intentionality of the accident was sparked as it was revealed that the pilot had signed up for around seven life insurance policie
Randi Zuckerberg leaving Facebook to start company

TechnologyAug 5, 2011

Randi Zuckerberg (Bloomberg) NEW YORK (AP) -- Facebook says Randi Zuckerberg, the sister of CEO Mark Zuckerberg, is leaving the company after six years. Facebook said Thursday that Zuc