The Korea Herald

Consumer prices grow 4.2% in April

May 2, 2011

Korea's consumer prices grew at a slower pace in April, but they still remained relatively high, raising concerns price hikes might undercut the overall momentum of the economic recovery, a report showed Monday.According to the report by Statistics Korea, the country's consumer price index jumped 4.2 percent last month from a year earlier. It was slower than the previous month's 4.7 percent gain b
Netizens slam parents of baby vs. dog video

TechnologyMay 2, 2011

(YouTube)Commenters have criticized the content of a YouTube video called “Baby And Dog Fight Over Food,” which shows a baby agitating a german shepherd by trying to steal its food.In the video, a baby repeatedly snatches the dog’s bowl while the animal is eating. Although the baby tries hard to keep the bowl, the dog reclaims its food with its front legs and concentrates on eating. Commenters rep
Package of tax, loan supports set for builders

IndustryMay 1, 2011

Investors will also get tax benefitsThe government said Sunday it would extend tax benefits to real estate investors in the Seoul metropolitan area and widen financial support for local builders as a way of shoring up the sluggish housing market.In their joint statement, the Land Ministry, the Finance Ministry and the Financial Supervisory Commission said the government will urge banks to roll ove
Korea mulling cutting 2011 growth forecast

May 1, 2011

The South Korea government is considering lowering its projection of economic growth in 2011 to around the upper range of 4 percent while upping its inflation projection to the upper range of 3 percent due to the rising oil prices, sources said Sunday.The Korean government has been targeting around 5 percent economic growth this year while containing inflation at 3 percent, but mounting inflationa
[Herald Interview] From kiwi to beef, Chile looks for greater access

May 1, 2011

Chile has been a reliable provider of agricultural products to Korea for many years and is looking to expand and hasten new products into the local market.Beef is big business and one that brings heated debate whenever a new country is looking to establish its product in the minds of local consumers.Currently, Korea bans beef from countries that do not vaccinate their cattle against foot and mouth
Korea posts $5.82b trade surplus in April

May 1, 2011

South Korea’s trade surplus surged to $5.8 billion in April, up sharply from $2.8 billion the previous month on brisk exports of petroleum products and ships, the Ministry of Knowledge Economy said Sunday. Exports rose 27 percent on-year to $49.77 billion last month, with imports rising 24 percent to $43.95 billion, according to the ministry.“The record-high export numbers were the result of local
STX Group chairman targets global market

IndustryMay 1, 2011

DALIAN, China ― On Friday, STX Group announced the “Vision 2020” at its shipyard in Dalian, China at an event celebrating the group’s 10th anniversary. The group hopes to become one of South Korea’s seven largest conglomerates with combined sales of 120 trillion won ($112 billion) by 2020.STX Group Kang Duk-soo, however, says that he has his eyes set on the global market. STX Group chairman Kang D
Hyundai, Kia launch hybrid Sonata, K5

IndustryMay 1, 2011

Hyundai Motor Group’s two carmakers Hyundai Motor Co. and Kia Motors Corp. are receiving orders for their first gasoline-hybrid electric vehicles from Monday.While the carmakers had introduced hybrid electric vehicles based on the compact cars Avante and Forte with liquefied natural gas-electric powertrain, the hybrid Sonata and K5 are their first gasoline-electric hybrids.The vehicles are fitted
[Herald Interview] Woman’s touch puts Sempio on the map

IndustryMay 1, 2011

In just a month, Sempio Foods has raised its target for the sales of “A Hundred Years” to 60 billion won ($55.9 million) by 50 percent after watching the bottles of citron vinegar fly off the shelves. Behind the smash hit is Suh Dong-soon. The 46-year-old director of marketing is the first female executive at the condiment maker in its 65 years in business. Sempio director of marketing Suh Dong-s
Asiana lounge in Incheon named best in Asia-Pacific

IndustryMay 1, 2011

Asiana Airlines said Sunday the company’s lounge in Incheon International Airport was picked as the best lounge in the Asia-Pacific region by Priority Pass.The country’s No. 2 air carrier said that its lounge, located on the third floor of the departure section at the airport, was named the Priority Pass lounge of the year in Asia-Pacific, after the group conducted an annual online vote. People r
Paralyzed Nonghyup banking system normalized

May 1, 2011

The nation’s largest banking network at Nonghyup has been normalized since Saturday after weeks of paralysis, which prosecutors suspect was caused by a cyber attack from North Korea.South Korea’s prosecution reportedly said they found evidence of break-ins by Internet Protocol addresses similar to that of the hacker hired by North Korea for the 2009 cyber attack of the presidential office Cheong W
[News Focus] Doubts plague new ‘Cinderella’ law

IndustryMay 1, 2011

Rule to limit access to video games likely hard to enforceThe National Assembly passed a controversial bill to ban teenagers from accessing online games midnight last Friday. But parliament is immediately facing criticism about the measure’s effectiveness. The law goes into effect in November. Critics are raising doubts about effectiveness as user information, such as the age of registered people
Renault cars get SKT-developed navigation

TransportMay 1, 2011

Renault Samsung Motors Co. announced on Wednesday that a new vehicle navigation system developed in collaboration with SK Telecom will be applied across its lineup from 2012.The carmaker said that it has been working with SK Telecom, the country’s largest mobile telecom service provider, since December to develop a new navigation system.According to the company, the new system was developed as a “
Porsche to launch limited 911 GT3 RS 4.0

TransportMay 1, 2011

The German high-performance specialist Porsche will be introducing the 911 GT3 RS 4.0. Limited to 600 vehicles, the 911 GT3 RS 4.0 is fitted with a six-cylinder, 4-liter engine capable of putting out 500-brake horsepower. 911 GT3 RS 4.0The 911 GT3 RS 4.0, fitted with a six-speed sports transmission, can reach 100 kilometers per hour in 3.9 seconds and double its speed in under 12 seconds. The veh
Mercedes holds Children’s Day event

TransportMay 1, 2011

Children’s Day may fall on May 5, but Mercedes-Benz Korea will be celebrating the occasion all month.Throughout May, the company is offering a discount of up to 30 percent on Mercedes-Benz collection bicycles and pedal cars for children. The company is also holding a drawing competition for Mercedes-Benz owners’ children under age 9. The competition is open from May 2-27. Three winners will be giv