The Korea Herald

Lee Kun-hee names new chief secretary

IndustryMay 11, 2011

Samsung C&T Corp.’s executive vice president Park Pil was appointed as the head of Samsung Electronics chairman Lee Kun-hee’s assistant team on May 1.Operating under the chief of Samsung’s corporate strategy office, the head of the chairman’s assistance team is widely considered to be an important step on the way to key posts within Samsung Group.Although the team acts as the chairman’s assistance
[Meet the CEO] LG Chem targets 25% global market share

CompaniesMay 11, 2011

CEO Kim says company is developing ‘second generation’ electric car batteriesLG Chem CEO Kim Bahn-suk had much to say regarding the future of the car battery market and how the company plans to carve out a leading share of global markets. He also talked about LG Chem’s vision for its people, and how that vision helped turn the company around since he came to office in 2006, a time when LG Chem was
Expo packed with cultural events

IndustryMay 11, 2011

The main theme of the upcoming International Exposition Yeosu Korea 2012 is “Living Ocean and Coast,” and as such its focus will be on issues related to marine development.However, organizers also have a host of cultural events to entertain visitors.During the 93-day expo, more than 3,200 performances and other cultural events will take place within the grounds.The performances and events planned
Yeosu Expo to present future of marine development

IndustryMay 11, 2011

Organizing committee steps up efforts for flawless Exposition opening next MayThe International Exposition Yeosu Korea 2012 is now a year away from its opening and its organizers are stepping up the efforts to bring preparations to a smooth close. The event, held under the theme “Living Ocean and Coast” will be held in Yeosu, South Jeolla Province from May 12 to Aug. 12.According to the Expo organ
Google unveils cloud-based music service

TechnologyMay 11, 2011

(Yonhap News)NEW YORK (AP) - Google Inc. unveiled its long-planned music service Tuesday, but it will likely need deals with the recording industry to reach its full potential.Called ``Music Beta by Google,'' the service lets users store their tunes remotely and access them from any compatible device, including mobile phones, tablets and computers. So far, it does not offer music downloads or song
Korean Air refuses to let cancer patient onto flight

IndustryMay 11, 2011

Korean Air denied a terminal cancer patient in the United States a seat on a flight to Korea because she “looked too frail.”Crystal Kim, a Korean-American with stage 4 breast cancer, was to take the flight on Saturday for Mother’s Day. Even though she had two doctors’ notes explaining that her terminal breast cancer wouldn’t be a problem during the flight, Korean Air still refused to let her board
S. Korea's jobless rate inches down to 3.7 pct in April

BusinessMay 11, 2011

S. Korea's jobless rate inches down to 3.7 pct in April South Korea's jobless rate inched down in April from a year earlier as the private sector continued to expand recruitment, fueled by strong exports, a government report showed Wednesday. The jobless rate was 3.7 percent last month, down from 3.8 percent in the same month a year earlier, according to the report by Statistics Korea. It was
Lawmakers support BOK on supervision

May 10, 2011

Central bank may be given right to inspect financial companiesThe nation’s financial market is focusing on the growing possibility that a proposed revision of the law on the Bank of Korea could pass the National Assembly this year.If the law on the BOK is revised, the central bank ― like the Financial Supervisory Service ― will be entitled to conduct independent inspections into financial companie
Genesis, Equus gaining popularity in U.S.

IndustryMay 10, 2011

Hyundai Motor Co. is boosting its presence in the U.S. luxury sedan market with its Genesis and Equus vehicle grabbing influential shares of sales.The automaker saw its Genesis sedan capture more than 10 percent of the U.S. market in the mid-luxury class for the first time last month.According to Autodata Corp., sales of the Genesis came to 2,648 units in April, up 16.9 percent from a year earlier
Samsung chairman Lee departs for IOC briefing

IndustryMay 10, 2011

Samsung Electronics chairman Lee Kun-hee left for the International Olympic Committee’s headquarters in Lausanne, Switzerland, on Tuesday.PyeongChang, like all cities bidding to host the 2018 Winter Olympics, is to participate in an official technical briefing at the organization’s headquarters from May 18-19. Lee is one of the IOC’s 110 members. Lee was escorted by his son Lee Jae-yong, a preside
Yeosu Expo kicks off celebrations

IndustryMay 10, 2011

Prime minister to visit the port city to drum up supportEvents marking the start of the 365-day run up to the International Exposition Yeosu Korea 2012 kicked off Tuesday with a concert and celebrations in Yeosu, South Jeolla Province.The three-month expo will be held at the southern port city from May 12, 2012 until Aug. 12. The upcoming expo is the second international exposition held in Korea,
EU firms pledge $510m investment in Korea

IndustryMay 10, 2011

Investment focuses on renewable energy and material industriesFive EU-based companies pledged to invest $510 million in Korea, the Ministry of Knowledge Economy announced Tuesday.The pledges ― two memoranda of understanding and three notifications of investment ― were made at an event held in Berlin attended by Minister of Knowledge Economy Choi Joong-kyung.The two memoranda of understanding were
World IT Show highlights media changes

IndustryMay 10, 2011

Samsung, LG, KT, SKT to feature gadgets, up-to-date communications technologiesThe 2011 World Information and Technology Show will take place in southern Seoul for four days beginning Wednesday, putting the focus on the new paradigm of multimedia and display.With the theme “Get IT Smart,” the show has prompted the participation of 500 firms, such as well-known local and overseas electronics makers
Smart appliances prepare to find groove

IndustryMay 10, 2011

Consumers are attracted by efficiency, but don’t want them to control their livesA refrigerator that’s so smart it automatically updates you on what food should go in the trash. A washing machine that can diagnose its’ own malfunctions and suggest the right fix. These are not home appliances from the next century; they are the gadgets available to the smarter users of today.LG Electronics in April
Renewables major part of world energy

IndustryMay 10, 2011

U.N. Climate change panel says 80% of energy needs could be met by renewables by 2050ABU DHABI (AFP) ― Renewable energy could meet nearly 80 percent of the world’s energy needs by mid-century and play a crucial role in fighting global warming, the U.N.’s climate scientists said Monday in a major report. The 194-nation Intergovernmental Panel for Climate Change said renewable sources had grown rapi