The Korea Herald

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
S. Korea's currency remains below pre-crisis level: IMF

Aug 5, 2011

The South Korean currency has appreciated markedly over the past few months but its value still remains lower than the pre-financial crisis level, the International Monetary Fund (IMF) said Friday. South Korea's won has appreciated about 6.5 percent against the greenback since the start of this year
Eximbank, KDB join hands to fund overseas projects

Aug 5, 2011

South Korea's two state-run policy lenders said Friday that they agreed to help local companies win more big-ticket overseas projects by providing massive financing.Under the memorandum of understanding (MOU), the Export-Import Bank of Korea (Eximbank) and Korea Development Bank (KDB) will cooperate
Lee vows to overhaul disaster-prevention systems, tighten safety standards

Aug 5, 2011

President Lee Myung-bak said Monday the government will overhaul disaster-prevention systems and tighten safety standards, stressing that last month's deadly downpours could repeat next year because of climate change."The abnormal weather pattern that used to come only once in a century has now beco
Penalties on Apple, Google set precedent

TechnologyAug 4, 2011

Stronger laws and bigger payouts may plague the firms This week’s government decision to impose penalties on the Korean units of Apple and Google for their roles in the so-called “location-gate” is being viewed as more than a slap on the wrist despite the light nature of the punishment. Above a
Korean inventor considers patent suit against Miller

IndustryAug 4, 2011

A Korean inventor is considering a lawsuit against MillerCoors, claiming that the new Miller Lite bottle has copied his patented design, industry sources said Thursday.The Chicago-based brewing company launched last year the Vortex bottle, which has grooves on the inside of the neck. The company exp