The Korea Herald

Gmail targeted in China-based campaign: Google

TechnologyJun 2, 2011

SAN FRANCISCO (AFP) -- Google said Wednesday that a cyber spying campaign originating in China had targeted Gmail accounts of senior US officials, military personnel, journalists and Chinese political activists."We recently uncovered a campaign to collect user passwords, likely through phishing," Google security team engineering director Eric Grosse said in a blog post. The logo of internet search
Korea bans some food imports from Taiwan amid safety concerns

Jun 1, 2011

Korea's food safety watchdog said Wednesday that it banned imports of Taiwanese products suspected of containing an environmental hormone, following reports that some Taiwanese firms are under investigation for using the potentially cancer-causing material. The temporary import ban will be applied to beverage products, jams, syrups, jellies and other food products suspected of containing DEHP, a
Hyundai Heavy gets orders for 2 drill ships

IndustryJun 1, 2011

Hyundai Heavy Industries announced Wednesday that it received orders for two drill ships from the U.S. oil well driller Rowan Companies Inc.The latest contract, worth $1.12 billion, pushes up the number of orders for drill ships Hyundai Heavy has won so far this year to nine.The combined value of the contracts the company has won so far is $5 billion, the company said.The orders also include optio
Ho-Am awards social contributors

IndustryJun 1, 2011

Ho-Am Foundation on Wednesday held an award ceremony to extend the Ho-Am Prize to four individuals and one institution for their contribution to improving human lives and promoting public welfare. This year’s prizes went to Professor Ha Taek-jip of the University of Illinois for science, Professor Thomas Lee of Standford University for engineering, Professor Augustine Choi of Harvard Medical Schoo
Brand report puts Samsung, three telecoms in top 100

IndustryJun 1, 2011

Samsung Electronics’ handset division was ranked No. 23 this year among world’s telecom brands in a report released by London-based brand evaluation consultancy Brand Finance on Wednesday.In a report that announced the top 500 telecom brands around the world, SK Telecom, the country’s leading mobile carrier, was placed in 49th place, followed by KT Corp. at 55th.LG Uplus entered the top 100 in 89t
SK Group adds 80 billion won to shared growth fund

IndustryJun 1, 2011

SK Group announced Wednesday that it will increase the fund established to support small and medium-sized enterprises by 80 billion won ($74 million) to 230 billion won.The additional funds were raised by SK Telecom, SK Global Chemical Co. and a financial institution. The SK Group subsidiaries put together 32 billion won, the conglomerate said. The fund was established in 2009 with 120 billion won
Hyundai to develop sedan only for China by 2013

TransportJun 1, 2011

Hyundai Motor said that it would develop a mid-sized sedan aimed at mostly Chinese customers by 2013.The project to launch a China-oriented sedan came as the automaker anticipates that the sales of middle-class sedans will surge in coming years in the Asian superpower, a Hyundai spokesman said Wednesday.“The China-oriented sedan will not be a remodeled car,” he said. “A new model which would under
Samsung SDI vows energy supremacy

IndustryJun 1, 2011

Samsung SDI, on Wednesday vowed to become a global energy firm catering to future needs for recyclable energy marking the official takeover of the solar battery business from its sister firm, Samsung Electronics. With the $147.6 million swap, SDI said it will target annual revenues of 13 trillion won ($12.1 billion) in 2015 and up to 35 trillion won in sales by 2020. More than half of the sales, a
Samsung, POSTECH may sue KTB Asset

Jun 1, 2011

Chang denies advice on corrupt investment in Busan Savings BankThe snowballing lobby scandal involving Busan Savings Bank is taking a new twist as two scholarship foundations threatened to sue an asset management agency, claiming that it advised them to invest in the failing bank.The private Pohang University of Science and Technology and Samsung Dream Scholarship Foundation said they would file a
Investment banks expect Korea’s inflation to grow 4.1 percent

Jun 1, 2011

Global investment banks forecast Korea’s consumer prices to increase more than 4 percent this year, citing sustained economic growth and high oil prices, data showed Wednesday.The average of inflation projections made in May by nine foreign investment banks, including Barclays Capital, rose to 4.1 percent from the 3.9 percent predicted in the previous month, according to the data provided by the K
Seoul shares end flat on auto falls, bank gains

Jun 1, 2011

Korean stocks finished nearly unchanged on Wednesday as losses among automakers outweighed bank gains, analysts said. The local currency climbed against the U.S. dollar.After opening slightly higher, the benchmark KOSPI shed 0.05 percent, or 1.13 points to 2,141.34. Trading volume was moderate at 289 million shares worth 8.02 trillion won ($7.44 billion) with losers leading gainers 437 to 382. “Th
Korea’s trade surplus narrows sharply in May

Jun 1, 2011

Korea’s trade surplus shrank sharply in May from the previous month as imports grew at a faster clip than exports due to high international energy prices, a government report showed Wednesday.The country’s trade surplus reached $2.75 billion in May, compared with a $5.14 billion surplus in April, according to the report by the Ministry of Knowledge Economy. Exports rose 23.5 percent on-year to $48
Hana Financial strives to revive KEB deal

Jun 1, 2011

FSC hints at ruling against Lone Star ownershipHana Financial Group is striving to maintain its position as the provisional acquirer of Korea Exchange Bank after the preliminary deal with the bank’s biggest shareholder expired a week ago.Though Hana Financial officials had said the group would soon announce the extension of the deal with U.S.-based Lone Star Funds, which holds a 51 percent stake i
[Herald Interview] Top stem cell expert urges lower regulatory barriers

IndustryJun 1, 2011

Park Se-pill (Park Hyun-koo/The Korea Herald)The fabricated cloning research by Hwang Woo-suk in 2006 remains a painful memory for Koreans, who had taken pride of their nation’s edge in a field that promised to transform medicine. No one agonized more over the fraud case than Park Se-pill, Korea’s top stem-cell researcher. Research in the area was brought to a virtual standstill as the government
LGE’s nagging slump puts CEO to the test

IndustryJun 1, 2011

LG Electronics is used to being No. 2. A powerful global electronics brand in its own right, the Seoul-based company has not made it to the highest of peaks. This seemed to be all right, however, as long it could rub shoulders with its top-tier rivals. But a raging “smart war” in the mobile industry changed all that, and LG Electronics is in bad shape in that sector. Koo Bon-joon, vice chairman an