The Korea Herald

Google introduces measures for disabled Web users

TechnologyJun 14, 2011

Google Korea introduced in Seoul on Tuesday the company’s efforts to make the Web accessible to everyone.“The work we do on accessibility is to make the information accessible to everyone ― seniors like your grandfathers and grandmothers, users who are blind and those who have hearing impairments,” said Google Inc. research scientist T.V. Raman at a press conference in Seoul.According to figures r
GNP still divided over TV ad sales bill

TechnologyJun 14, 2011

Failure of bill passage would likely damage smaller broadcasters: expertsAttention is being paid to the parliamentary passage of the controversial advertising broker bill as the National Assembly committee dealing with the issue is due to open its general meeting later this month.The opposition Democratic Party said Monday it decided to go with having a single advertising broker for public televis
IMF bars Fischer from race for top job

IndustryJun 14, 2011
Disgruntled iMac users may seek class action

TechnologyJun 14, 2011

An alleged defect occurring in Apple Inc.’s iMac computers appears likely to lead to a class suit against the IT giant. According to industry sources, Apple Inc.’s iMac computers can develop blots on the monitor under certain circumstances.The company had at first provided free replacements for products that have developed the problem, but has since stopped such services, claiming that the cause o
Regulator vetoes KDB’s bid for Woori

Jun 14, 2011

Korea's top financial regulator said Tuesday it is not desirable for KDB Financial Group Inc. to bid for state-run Woori Finance Holdings Co., raising the chances that the much-awaited sale of the group will hit a snag.Korea announced a road map for the sale of state-run Woori Finance, the country's No. 2 banking group, on May 17, after it suspended the deal worth around $6 billion to sell its 56.
Full-timers in 50s become the most active workforce

Jun 13, 2011

The portion of the workforce in their 50s has frequently exceeded that in their 30s in the past two years, as the country quickly becomes an aging society.Statistics Korea said Monday that the number of baby boomers working in their 50s had exceeded the number of workers in their 30s four times since October 2009, when the older group outnumbered the younger workers for the first time. The proport
Hanwha, Merck sign license deal on biosimilar drug

IndustryJun 13, 2011

Hanwha Chemical Corp., the country’s leading petrochemical firm, said on Monday it has reached a license agreement worth $720 million for its arthritis biosimilar with Merck Sharp & Dohme Research Ltd., a subsidiary of U.S. drugmaker Merck & Co.Under the deal, the two companies plan to develop and commercialize the drug candidate named HD 203 together. Merck secures its sales rights in all countri
Korea Aerospace Industries celebrates its first export

IndustryJun 13, 2011

Korea Aerospace Industries on Monday held a reception marking the export of its T-50 trainer jets to Indonesia.The T-50 is the country’s first supersonic jet developed in collaboration with the U.S. defense giant Lockheed Martin. The project took 2 trillion won ($1.8 billion) and 13 years to produce the T-50. T-50. (Korea Aerospace Industries)Under the $400 million contract, signed last month, wi
Foreign carmakers’ market share rises to 6.5%

TransportJun 13, 2011

Foreign carmakers saw their combined market share in Korea climb by 1 percentage point over the past year.They captured 6.5 percent of the local market with sales of 42,700 vehicles between January and May, up from 5.5 percent with 34,318 units during the corresponding period of last year.In May, the foreign carmakers posted 6.8 percent market share by selling 8,777 units, according to the automot
Korea ramps up efforts to detect offshore tax evaders

Jun 13, 2011

Korea is stepping up efforts to ferret out people and businesses engaged in offshore tax evasion schemes by directly investigating foreign financial accounts, the tax office said Monday.The National Tax Service said it will carry out the investigations in cooperation with tax authorities in foreign countries that have been cited for becoming tax havens for Korean nationals and companies. Individua
Market competition crucial for curbing inflation: minister

Jun 13, 2011

Korea needs to boost market competition further in order to fight high inflation, the biggest headache for the economy, the top economic policymaker said Monday.The remarks by Finance Minister Bahk Jae-wan come as South Korea is struggling with high inflation. The country’s consumer prices surged 4.1 percent on-year in May, hovering above the 4 percent level for five months running and well above
FSC faces hurdle over Woori sale

Jun 13, 2011

Opposition party against revising law on financial holding firmsThe sale of state-run Woori Financial Group faces a significant showdown this week as to whether financial authorities can gain the momentum needed to push for the revision of laws on financial holding companies.The Financial Services Commission is considering proposing a revision to a bill allowing a financial group to own another fi
Samsung Electronics, SKT most favored workplaces

IndustryJun 13, 2011

Samsung Electronics and SK Telecom were picked as the best companies for people to work in a survey released by an economic consulting firm on Monday.The Korea Management Association Consultant said Samsung Electronics received the highest marks in manufacturing and SKT was rated No. 1 in service providers when selecting the top company to work for in Korea in a survey answered by 5,214 people.Sam
POSCO’s China subsidiary completes plant expansion

IndustryJun 13, 2011

Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also
LGE commits to basics, quality

IndustryJun 13, 2011

Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in