The Korea Herald

Gucci ditches Shilla for Lotte Duty Free

Jun 9, 2011

Italian fashion brand Gucci is closing both of its outlets from Shilla Duty Free in Incheon International Airport to move to Lotte Duty Free, a decision slapping Shilla for giving exclusive favors to the brand’s rival Louis Vuitton.Gucci is said to have complained to Shilla over the lower commission fee and favorable spots the Hotel Shilla affiliate gave to Louis Vuitton. The 10 to 20 percent of c
Carriers move into mobile messenger business

IndustryJun 9, 2011

Mobile carriers are moving into the mobile messenger field after wrestling with the surging popularity of existing mobile messengers which they claim have jammed networks and snatched away data fees.KT Corp., the country’s largest fixed-line service operator, released its own communication tool called “olleh talk” on Thursday.SK Telecom is also looking into introducing a mobile chat service as ear
Korean auto parts makers target Brazil

TransportJun 9, 2011

Korea’s auto parts manufacturers are aggressively seeking inroads into Brazil, the world’s fourth-largest automobile market.Brazil has emerged as the world’s sixth-largest automobile producer and sold about 3.6 million vehicles last year, grabbing the world’s fourth place.The active advancement of local companies has been fueled by the recently growing demand for made-in-Korea components in the So
Samsung staff brace for corruption crackdown

IndustryJun 9, 2011

Chairman Lee says scandal prevalent throughout conglomerateEmployees at Samsung, the nation’s largest industrial group, are expected to face a conglomerate-wide shakeup as owner Lee Kun-hee was unable to shake his fury over the latest corruption scandal at a Samsung affiliate. “It seems that corruption is prevalent in all parts of Samsung,” was what Lee said on Thursday, a day after he said the co
POSCO launches campaign to become ‘loved company’

IndustryJun 9, 2011

POSCO and its subsidiaries will aim to become “loved companies,” the companies announced in a ceremony Thursday.According to POSCO’s agenda, a loved company is one that satisfies all concerned parties including society, employees, clients, investors, suppliers and environment, while at the same time sharing cultural programs and company values with them. “The way forward for POSCO is (to become) a
Jeonse prices soar to 60% of property value

Jun 9, 2011

Lump-sum deposits, or jeonse, neared 60 percent of average housing prices in Seoul and its surrounding areas in the first quarter, reflecting a growing burden on low- and middle-income living on leases.A report on the housing market by KB Bank on Thursday said deposits for jeonse stood at 58.9 percent of apartment prices on average, the highest since it reached 59.5 percent in November 2004.Jeonse
FSC seeks to ban lawsuits for small-amount financial disputes

Jun 9, 2011

The Financial Services Commission is to propose a bill banning financial companies from filing suits against customers if the disputes are over a “small” amount of transactions.The bill is expected to define small-amount dispute cases as those whose transactions do not exceed 5 million won ($4,600).While the FSC said the bill will be designed in coordination with relevant ministries, the regulator
Asiana launches new service campaign

IndustryJun 9, 2011

Asiana Airlines, the country’s second-largest air carrier, unveiled its new slogan for customer services and uniforms for airport staff in a bid to lure more customers during the peak summer season. The slogan, “Always with You,” implies four keywords ― novelty, sincerity, kindness and quality ― which all its employees will pursue to make a company that is “always with customers,” Asiana said in a
SK Holdings agonizes over securities unit

IndustryJun 9, 2011

SK C&C will likely acquire shares to put brokerage house under chairman’s controlAs the deadline for complying with fair trade laws approaches, the IT services provider SK C&C appears likely to acquire SK Securities Co. shares held by other SK Holdings companies. Under the current Monopoly Regulation and Fair Trade Act, a non-financial holding company is unable to hold stakes in a financial compan
Hankook Tire breaks ground for new plant in Indonesia

IndustryJun 9, 2011

Hankook Tire Co., Korea's largest tire maker, said Thursday it began construction of a new plant in Indonesia to increase its presence in the Southeast Asian country and other growing markets in the region.The plant in the Jakarta suburb of Bekasi will be the company's seventh and will cost $350 million for the first phase of its construction, the company said.The construction will be completed by
Facebook under fire for photo tagging feature

IndustryJun 9, 2011

WASHINGTON, June 8, 2011 (AFP) - Facebook is coming under fire for a feature that uses facial recognition software to allow members to tag pictures of their friends on the social network.The "Tag Suggestions" feature made its debut on Facebook in the United States six months ago but has drawn renewed attention this week after the social network began rolling it out to other countries.Justin Mi
Computer tech installed peeping software

TechnologyJun 9, 2011

FULLERTON, California (AP) -- A U.S. computer repairman suspected of installing spyware on laptops that enabled him to snap and download photographs of women showering and undressing in their homes was arrested Wednesday at his home, police said. This photo provided by the Fullerton (Calif.) Police Department on Wednesday shows Trevor Harwell. Police say Harwell, a Southern California computer rep
Apple CEO pitches expansion to Calif. city council

TechnologyJun 9, 2011

CUPERTINO, California (AP) -- Its ubiquitous products have already invaded the tech marketplace, and now Apple Inc. is seeking a fitting new Northern California home: a massive spaceship-like structure that will house an estimated 12,000 employees. Apple CEO Steve Jobs (AP-Yonhap News)Apple CEO Steve Jobs made a surprise appearance at a Cupertino City Council meeting late Tuesday to announce plan
Samsung’s Lee rages at internal corruption

IndustryJun 8, 2011

Samsung Techwin president resigns over undisclosed corruptionSamsung Electronics chairman Lee Kun-hee stressed the need to beef up the company’s auditing functions in the aftermath of a corruption scandal at a Samsung affiliate that led to the resignation of its chief executive.“The unblemished image of Samsung’s organizational culture has been marred,” the Samsung Group owner said. Lee expressed
Koreans most inclined to buy smartphones

IndustryJun 8, 2011

Koreans are the most eager among global consumers to purchase a smartphone, Nielsen, a global information research firm, said on Wednesday.Half of South Korean consumers without the smart device responded in a survey by Nielsen that they would purchase a smartphone in the future.The figure was the highest among global consumers also surveyed by Nielsen, the company said.About one-fifth of the 50 m