The Korea Herald

Airbus to introduce see-through plane by 2050

IndustryJun 15, 2011

Airbus, the world’s largest aircraft manufacturer, said it would look to develop planes which all passengers can enjoy the view by 2050. In the plane, people would no longer have to grab a window seat to get a glimpse of sky, but could enjoy the views through glass ceilings. There also will be no division of classes of seats, it said.Charles Champion, executive vice president of Airbus, told repor
S. Korea's jobless rate stands at 3.2 pct in May

Jun 15, 2011

South Korea's jobless rate remained unchanged in May from a year earlier, but it fell sharply from the previous month as the private sector increased employment amid an economic recovery, a government report showed Wednesday.The jobless rate was 3.2 percent last month, unchanged from the same month a year earlier, according to the report by Statistics Korea. However, it was down from 3.7 percent i
Lone Star ineligible as KEB's major shareholder: lawmaker

Jun 14, 2011

Lone Star Funds is ineligible as Korea Exchange Bank's major shareholder since the U.S. private buyout fund's 2003 acquisition of the South Korean lender may be illegal, a lawmaker said Tuesday.The remarks come as Lone Star Funds is in talks with Hana Financial Group Inc., the country's No. 4 banking group, to settle the sale of its 51.02 percent stake in KEB for 4.69 trillion won ($4.3 billion).I
KDB Financial forced to give up Woori

Jun 14, 2011

Regulator grants equal opportunities for local and foreign biddersThe financial authorities have decided to allow foreign investors to participate in the coming bidding for Woori Financial Group, reversing their earlier stance to hand over the state-run group to a Korean investor.With the decision, former Finance Minister Kang Man-soo, who is serving as chairman of KDB Financial Group, has failed
KT, NHN to join hands for Wi-Fi ad

IndustryJun 14, 2011

Korea’s telecom titan KT Corp. and NHN Corp., the operator of Korea’s most-visited Web search engine, will set up a joint venture next month to offer mobile ads for wireless-fidelity users, the companies said Tuesday. KT and NHN Business Platform Corp., NHN’s affiliate providing ad sales and information technology infrastructure, will each invest 3 billion won ($2.76 million) in the joint venture,
POSCO opens 1st overseas facility for processing steel thick plates

IndustryJun 14, 2011

POSCO opened its first overseas thick-plate processing center in China on Tuesday. These are steel plates thicker than 6 millimeters used in shipbuilding and heavy equipment production.The center, POSCO-China Dalian Plate Processing Center or POSCO-CDPPC, is located on Changxing Island of the coast of Dalian in Liaoning province, Northeast China. “China was chosen for the site of the company’s fir
Korea to build unmanned boats for research, surveillance

IndustryJun 14, 2011

Korea plans to develop unmanned boats for maritime research and surveillance by investing 20 billion won ($18.5 million) over the next five years, the government said Tuesday.The automated boats will sail at a speed of up to 90 kilometers per hour within a 16 kilometers radius and avoid collisions with other vessels or obstacles, the Ministry of Land, Transport and Maritime Affairs said in a state
Hyosung develops high-strength carbon fibers

IndustryJun 14, 2011

Hyosung Corp., a Korean maker of chemicals and automatic teller machines, said Tuesday it has developed the country’s first high-strength carbon fibers, paving the way for the next-generation fabrics that are lighter, stronger and more elastic.The ultra-thin materials have stepped into the limelight in recent years as their low weight, high-tensile strength and temperature tolerance made them desi
Samsung Electronics begins Olympic promotion

IndustryJun 14, 2011

Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from
Most productive workforce shrinks

Jun 14, 2011

Trend is likely to continue, hurting economic competitiveness Core productiveThe most productive workforce aged between 25 and 49 has begun shrinking for the first time in recorded history, data showed on Tuesday, marking a trend likely to continue and weigh down on competitiveness of the economy.The Statistics Korea said the core productive population stood at 19.54 million as of end-2010, down 3
Institutional investors drive shares up 1.37%

Jun 14, 2011

Korean stocks ended 1.37 percent higher on Tuesday as institutional investors scooped up carmakers and financial shares, overshadowing concerns over the eurzone debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 28.09 points to 2,076.83, the second straight session of gains.Trading volume was light at 207 million shar
Korea logs record account surplus with China

Jun 14, 2011

Korea posted a record current account surplus with China in 2010 as exports to the world’s fastest-growing economy hit an all-time high, the central bank said Tuesday.Korea’s current account surplus with China reached $52.8 billion last year, compared with a $37.9 billion surplus in 2009, according to the Bank of Korea.It marked the largest surplus since 1998 when the BOK began to compile related
Korea eyes electricity price hike

Jun 14, 2011
Korea to beef up efforts to curb household debt: FSC

Jun 14, 2011

Korea plans to beef up efforts to curb the growth of household debt and mend the practice of extending home loans in a bid to prevent household indebtedness from increasing market instability, the financial watchdog said Tuesday. Korea’s household debt stood at 801.4 trillion won ($738.2 billion) as of the end of March, accounting for 86 percent of the country’s gross domestic product. The number
[Herald Interview] ‘Ethics training imperative for bankers and regulators’

Jun 14, 2011

Deploying an industry wide business ethics program for bankers and regulators is imperative to uproot irregularities and cut long-held collusive ties, the chief Asia economist at HIS Global Insight said in Seoul on Tuesday.“Ethics need to be taught and shared among peer groups. Professionals above graduate level often have never had chances to train themselves on what is right and wrong in specifi