The Korea Herald

IBK seeks to boost assets by 64 percent by 2015

Aug 1, 2011

In the long-term, the bank said it would solidify its market position as a comprehensive financial services provider.The state-run Industrial Bank of Korea said Monday it aims to boost its assets to 300 trillion won ($285 billion) and secure as many as 1 million corporate clients by 2015.IBK said th
BOK sees continued inflationary pressure

Aug 1, 2011

South Korea’s inflationary pressure is unlikely to lose steam during the remainder of the year, the top central banker said Monday, pointing to the country’s uphill battle to curb inflation.“The annual growth rate of consumer prices will slow starting in September due mainly to high price levels a y
Financial industry’s growth hits 6-year low

Aug 1, 2011

Growth of the South Korean financial industry hit a six-year low in the first half due mainly to the struggling savings bank sector and insurers’ poor track records, data showed Monday.The local financial industry expanded 1.6 percent on-year in the January-June period, the slowest gain since a 0.2
Big companies join power-saving drive

IndustryAug 1, 2011

Corporations seek consulting services to conserve energy, cut costsThese days, SK Group’s headquarters in downtown Seoul starts making ice at 11 p.m. The ice produced overnight cools the building the next day. The “thermal energy storage” system helps the group reduce its peak electricity costs for
Radiation-free food bolsters Korea’s exports to Japan

IndustryAug 1, 2011

South Korean food exports to Japan are climbing at the fastest pace on record after radioactive contamination and supply disruptions prompted consumers to switch to overseas producers.Sales of watermelons, tuna and noodles led a 38 percent jump in South Korea’s shipments of food to its Asian neighbo
Gas engines at center of fuel efficiency drive

IndustryAug 1, 2011
Auto industry could lead U.S. recovery

IndustryAug 1, 2011
China manufacturing exceeds estimates

IndustryAug 1, 2011

A Chinese manufacturing index was higher than economists estimated in July, signaling the world’s second-biggest economy is withstanding higher interest rates and tightened credit. The Purchasing Managers’ Index was at 50.7 for July compared with 50.9 in June, the China Federation of Logistics and P
HSBC to sell 195 branches for $1b

IndustryAug 1, 2011
Bangkok property boom on the rise

IndustryAug 1, 2011

A 77-storey skyscraper is set to become the latest, and tallest, addition to Bangkok’s ever-changing skyline, already transformed by a construction boom that has raised fears of a property bubble.Variously described on Internet forums as looking “like it has been eaten by giant termites” and reflect
Apple seeks to block Samsung Electronics from selling tablet in Australia

TechnologyAug 1, 2011

Apple Inc. escalated its legal dispute against Samsung Electronics Co. by requesting an Australian court to block the South Korean company from selling the newest version of its tablet computer in the country. The Samsung Galaxy Tab 10.1 infringes 10 Apple patents, including the “look and feel,” and
Electronic microchips added to hotel towels to ban snatching

TechnologyAug 1, 2011

Electronic microchips added to hotel towels to ban snatchingAn American linen company has introduced new towels and robes equipped with electronic chips for hotels in order to prevent guests from taking them home.Linen Tracking Technology, a firm based in Miami, launched the new products attached with Radio Frequency Identification (RFID) tags under association with Fluensee, another technology fi
S. Korea's consumer prices jump 4.7 percent in July

Aug 1, 2011

South Korea's consumer prices jumped at a faster pace in July, raising concerns that inflationary pressure is building up despite the government's anti-inflation efforts, a report showed Monday.According to the report by Statistics Korea, the country's consumer price index rose 4.7 percent last mont
Korean won’s steep rise feared to hurt exporters

Jul 31, 2011

The Korean government is set to face an uphill battle in keeping the Korean won from appreciating at a rapid clip as the U.S. debt crisis is sending ripples throughout financial markets across the world.“The local currency could gain to the 1,000 won level against the greenback by the end of the year,” said Huh In, an international finance analyst at the state-run Korea Institute for International
Change expected at Samsung to beat Apple, other rivals

IndustryJul 31, 2011

Samsung is not a company used to being No. 2 in anything it does, but it appears to be falling behind in preparing for changing business surroundings. At least, this is the case according to Samsung owner Lee Kun-hee who last week publicly castigated his company ― albeit indirectly ― by saying Samsung needs to get going in terms of attaining “soft (ware) power, first-caliber human resources and pa