The Korea Herald

Social commerce company in U.S. buys Korea’s Ticket Monster

Aug 2, 2011

LivingSocial, the No. 2 social commerce provider in the U.S. after Groupon, has acquired South Korea’s biggest player Ticket Monster (TMon), underscoring the popularity of discount deals through social network services amid the dearth of mergers and acquisitions in other sectors. TMon said on Tuesda
Conglomerates may follow Samsung’s MRO selloff ...　

IndustryAug 2, 2011

Speculation is rising that the country’s large businesses will follow Samsung’s newly unveiled plan to withdraw from business involving procuring maintenance, repair and operation supplies.Korea’s top conglomerate said Monday its flagship electronics unit and eight other affiliates plan to sell a co
Farmers threaten to halt milk production

IndustryAug 2, 2011

Price negotiations with dairy companies stalled amid concern over milk shortageConcerns over a nationwide milk shortage are escalating as farmers threatened to halt Wednesday’s milk supply to dairy companies, demanding a price increase.The government continued on Tuesday last-minute efforts to media
Watchdog puts 2 more firms on watch list

Aug 2, 2011

South Korea’s antitrust watchdog said Tuesday that it has placed two more companies on its watch list that limits mutual investments and loan guarantees.According to the Fair Trade Commission, the number of companies on the list stood at 1,580 from a total of 55 business groups as of Monday, compare
Korea to begin work at tidal power plant

Aug 2, 2011

South Korea plans to begin operations at a tidal power plant in Sihwa, Gyeonggi Province, on Wednesday, the Ministry of Land, Transport and Maritime Affairs said Tuesday.Ministry officials said it decided to advance the operating schedule by three months in consideration of rising demand of electric
Foreign bank units see profits fall

Aug 2, 2011

Branches’ combined income slides 43 percent year-on-yearForeign bank branches in South Korea saw their earnings plunge in the first half of this year, hurt by losses linked to the sharp rise in the value of the Korean won and interest rate fluctuations, the country’s top financial regulator said Tue
Hyundai Asan pushing for trip to N.K. amid standoff

Aug 2, 2011

Hyundai Asan is pushing to send its officials to North Korea’s scenic mountain resort this week for a memorial service of a former Hyundai Group chairman, officials said.The main tour operator at the stalled resort has held a memorial service for Chung Mong-hun every year since 2003, when he committ
Samsung tops N. American TV market in the first half

IndustryAug 2, 2011

Samsung Electronics, the world’s No. 1 flat-screen TV maker, said Tuesday that it led the North American TV market in the first half of the year on the back of rising demand for high-end TVs.Samsung Electronics’ first-half market share for digital TVs stood at 35 percent in terms of value of the uni
SK, users deal with hacking aftermath

IndustryAug 2, 2011

Online break-in at Cyworld, Nate prompts ‘real action’ to keep websites secureThe first thing Choi Hyun-hee did on Monday morning was change the passwords of the accounts she held at Kookmin Bank, Naver and Gmarket. She went through her mind several more times and came up with a list of other commer
Sony plans overhaul at TV business

IndustryAug 2, 2011

Sony Corp., Japan’ largest exporter of consumer electronics, is planning an overhaul of its television operations as the business faces an eighth consecutive year of losses.The company is aiming to draw up the plans by the end of the month and changes may include reforms at the TV business developme
Asians target U.S. hotels as wealthy travel

IndustryAug 2, 2011

High-end hotels in large U.S. cities are attracting buyers from Hong Kong, China and Singapore seeking to cater to a growing number of affluent Asians traveling abroad. Acquisitions by Asian investors probably will climb to the “low double digits” of all U.S. hotel deals this year, said John Strauss
U.S. factory growth weakest in 2 years

IndustryAug 2, 2011

Manufacturing activity barely grew in July; slump could extend through summerWASHINGTON (AP) ― Manufacturers had their weakest growth in two years in July, a sign that the economy could weaken this summer.The Institute for Supply Management, a trade group of purchasing executives, said Monday that i
ADB warns of bumpy road into ‘Asian century’

IndustryAug 2, 2011

TOKYO (AFP) ― Asia could be as wealthy as Europe by mid-century, but only if it tackles key challenges from inequality and corruption to climate change, an Asian Development Bank study said Tuesday.On current trends, Asia will make up half the world’s economic output by 2050, and another three billi
U.S. deal would have little impact till 2014

IndustryAug 2, 2011

Budget deal’s initial spending cuts too small to hurt economy in short runWASHINGTON (AP) ― The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending should have only a minor impact on the economy for the next two years.Almost all the cuts would be made
LivingSocial of U.S. to acquire TicketMonster

TechnologyAug 2, 2011

LivingSocial, the No. 2 social commerce provider in the U.S. after Groupon, has acquired South Korea’s biggest player Ticket Monster (TMon), underscoring the popularity of discount deals through social network services amid the dearth of mergers and acquisitions in other sectors. TMon said on Tuesda