The Korea Herald

N.K. trade up 22% in 2010: report

May 29, 2011

North Korea’s trade volume soared 22 percent in 2010 from a year earlier as the communist state boosted exports of minerals to earn hard currency and increased imports of fuels, mostly oil, a local trade agency said Friday.North Korea’s imports and exports, excluding those with South Korea, jumped 22.3 percent on-year to $4.17 billion last year, according to the state-run Korea Trade-Investment Pr
Business sentiment remains positive for June

May 29, 2011

Korea’s major companies remain positive about their business conditions for June on expectations of growing exports and improving economic conditions, a poll showed Sunday.The monthly Business Survey Index for the upcoming month came in at 104.3, unchanged from May when the reading turned positive after it dipped to 98.4 the previous month, according to the Federation of Korean Industries, the cou
Listed firms change CEO every 31 months: data

May 29, 2011

The average term of a chief executive officer at listed firms was 31 months, data showed on Sunday.It was also found that a single firm reseated its CEO an average of 3.7 times over the past 10 years, according to data released by Chaebul.com, a website that provides information on the country’s conglomerates. The survey was conducted on 992 listed firms.A firm that changed its chief executive in
More foreigners take insurance

May 29, 2011

Top Korean firms see surge in foreign customers here The loan default rate of KoreanThe number of foreigners subscribed to insurance in Korea last year doubled from 2005, mainly due to relaxed application procedures and the rising number of international marriages, industry sources said Sunday.The number of foreigners who have subscribed to insurance offered by the country’s top three insurance fi
Lamborghini to launch new ‘everyday’ model

TransportMay 29, 2011
Volkswagen sees new U.S. plant as key to topping Toyota Motor

TransportMay 29, 2011
India’s Tata Motors reports flourishing profits, led by JLR

TransportMay 29, 2011

MUMBAI (AFP) ― India’s top vehicle maker Tata Motors on Thursday reported a nearly fourfold increase in annual profit, boosted by booming sales and strong demand for British brands Jaguar and Land Rover.Net profit was 92.7 billion rupees ($2.04 billion) for the year to the end of March 2011, up from 25.7 billion rupees in the previous year, the company said in a statement to the Bombay Stock Excha
Jaguar draws customers with unique designs

TransportMay 29, 2011

Jaguar is targeting the Korean market by launching modern sedans and increasing the number of showrooms in major cities here.Its unique and beautiful designs are attracting Korean customers, especially people who want to buy a different type of car.“Many owners of BMW or Mercedes-Benz have replaced their cars with Jaguar models,” a Jaguar-Land Rover Korea spokesman said.“While vehicles of German o
Korea, Germany vie to be world’s No. 4 carmaker

TransportMay 29, 2011

Seoul is projected to capture 11% of the world’s auto production market within four yearsKorea has been striving to become one of the world’s four largest automakers, though the nation ranked fifth for six consecutive years between 2005 and 2010.Though Korea grabbed fourth place in the global auto manufacturing ranking in 1997, it suffered difficulties in the wake of the 1997-98 financial crisis.N
Coffee drinkers won’t get break on higher prices

IndustryMay 29, 2011

Colombia, the second-largest producer of mild arabica coffee bought by companies such as Starbucks Corp. and Nestle SA, said consumers will have to get used to higher prices because of rising demand and reduced supply. Production next year will fall short of consumption, keeping the cost of arabica coffee in a range of $2 to $3 a pound for the next 12 months, according to Colombian National Coffee
Biden hails U.S. auto industry rebound

IndustryMay 29, 2011
10 more savings banks to face probe

May 29, 2011

Watchdog likely to suspend around three more savings banksFinancial regulators plan to launch fresh investigations into 10 more savings banks that survived the probe earlier this year, brewing another round of major upheaval in the country’s scandal-ridden secondary banking sector.A taskforce of auditors from three state agencies ― Financial Supervisory Service, Financial Services Commission and K
Staying in style with second-hand shops

IndustryMay 27, 2011

Koreans’ love for labels keeps used-goods industry bustlingKim Hae-mi had been more than a little doubtful as to whether it was a good idea to pick out the first Chanel bag of her life from a second-hand store. She recalled how unenthusiastic she was when she made the trip to Myeong-dong, a popular local shopping district in downtown Seoul dotted with the second-hand and consignment shops. But she
Samsung SDI takes over battery business

IndustryMay 27, 2011

Samsung Electronics Co., the world’s top memory chip maker, will unload its solar battery business to its affiliate Samsung SDI Co. for 160.8 billion won ($147.6 million), the companies said Friday, in an apparent bid to revitalize the team’s disappointing performance, The boards of the two companies each approved the plan, which calls for Samsung Electronics to hand over its solar battery workfor
STX supports volunteer projects

IndustryMay 27, 2011

STX Group on Thursday selected three social contribution projects devised by employees of subsidiaries that will receive the company’s support.The selected projects each received 1 million won ($925) from the company to be used for funding the activities. STX Corp. president Choo Sung-yob (second from right) poses with winners of volunteer projects. (STX Corp.)The company said that the event took