The Korea Herald

Apple suit puts Samsung tablet on hold in Australia

TechnologyAug 2, 2011

Apple Inc. won an agreement from Samsung Electronics Co. that the South Korean company won’t sell the newest version of its tablet computer in Australia until a patent lawsuit in the country is resolved. The Samsung Galaxy Tab 10.1 infringes 10 Apple patents, including the “look and feel,” and touch
Foreign bank branches' H1 net halves

Aug 2, 2011

Foreign bank branches in South Korea saw their earnings almost halve in the first six months of this year from a year earlier due to losses from securities investments, the financial regulator said Tuesday.The combined net income of foreign banks' 37 local branches came to 538.5 billion won (US$512.
S. Korea's large biz CEOs earn average 1.67 bln won in 2010

IndustryAug 2, 2011

Chief executive officers (CEOs) working for South Korea's 100 largest businesses earned an average of just under 1.67 billion won (US$1.59 million) in 2010, a report showed Tuesday.According to Chaebol.com, their earnings include salaries, dividends and stock options, with top executives of Samsung
S. Korea's foreign reserves hit new high in July

Aug 2, 2011

South Korea's foreign exchange reserves climbed to a fresh high in July as a stronger British pound and Japanese yen boosted the dollar conversion value, the central bank said Tuesday.The country's foreign reserves reached US$311.03 billion as of the end of July, up $6.55 billion from June, accordin
No credit impact on Korea's securities from floods: Moody's

Aug 2, 2011

Moody's Investors Service said Monday that the recent deadly floods and landslides in South Korea will have no credit-ratings impact on the country's residential mortgage-backed security (RMBS) and asset-backed security (ABS).Last week's downpour-caused floods and landslides in Seoul, nearby Gyeongg
Class action suit may cost Apple up to W27b

IndustryAug 1, 2011

More than 27,800 Koreans have signed up to file a class action lawsuit against Apple Korea for breach of privacy to pave the way for a legal battle that may cost the company as much as 27 billion won ($25.5 million). Miraelaw law firm, which will be representing the plaintiffs, said the official fig
Trade surplus widens to $7.2 billion in July

Aug 1, 2011

‘FTA effect’ may be felt in the second half of the year, customs agency saysSouth Korea’s trade surplus widened sharply in July from the previous month as exports grew at a faster pace than imports, the government said Monday.The country’s trade surplus reached $7.2 billion last month, compared with
SK E&S absorbs LNG affiliate

IndustryAug 1, 2011

SK E&S Co., Korea’s top city gas provider, said on Monday it has absorbed and merged with K-Power, its power-generation affiliate, to boost their liquefied natural gas business. The merger took effect on Monday. Parent company SK Holdings, the country’s No. 3 conglomerate, now holds a 94.13-percent
LG Display may try to increase capital

IndustryAug 1, 2011

Despite its recent decision to drastically cut investment, LG Display, the world’s leading LCD-maker, will have a hard time fending off a paid-in-capital increase, according to industry sources.“Everything will weigh on how the company finishes the year, because at the end of the year, the chances a
Doosan chairman emphasizes quality over quantity

IndustryAug 1, 2011

Doosan Group chairman Park Yong-hyun on Monday said the company must focus on qualitative growth.In a message posted on the company’s intranet to mark its 115th anniversary, Park said that the company should now focus on qualitative growth and that it should continue trying harder despite its achiev
Hana Financial, bank unit under tough probe

Aug 1, 2011

FSS says scrutiny includes banking unit’s lending to Lone StarThe Financial Supervisory Service is probing Hana Financial Group and Hana Bank over several key issues including their loans totaling 1.5 trillion won ($1.42 billion) to U.S.-based Lone Star Funds, officials said on Monday.The other issu
Hyundai-Kia, Ssangyong sales jump in July

IndustryAug 1, 2011

Ssangyong Motor Co., South Korea’s smallest automaker, said Monday its sales surged 46.1 percent to a monthly high in July, fueled by strong exports and domestic demand.The company sold a record 10,763 vehicles last month, compared with 7,369 units a year earlier. Domestic sales rose 28 percent on-y
Tax revenues hit record high last year

Aug 1, 2011

Tax revenues hit a record high last year as income and corporate taxes increased amid improving economic conditions, government data showed Monday. The National Tax Service said that it collected a total of 166.15 trillion won ($157.9 billion) last year, compared with 154.33 trillion won tallied a y
Consumer prices jump 4.7% in July amid inflation concerns

Aug 1, 2011

South Korea’s consumer prices jumped 4.7 percent in July from a year earlier, staying above the government’s target inflation rate of 4 percent for the seventh month in a row amid growing worries over its impact on the overall economy.The year-on-year figure in July marked a bigger jump than the 4.4
Daewoo Securities launches English stock trade program

Aug 1, 2011

Daewoo Securities said on Monday it has launched an English-language online home trading system targeting foreign investors interested in the Korean stock market.The new trading software named “Qway ENG” allows foreign investors to handle trades of Korean stocks, KOSPI200 futures and options, aided