The Korea Herald

Free Ssangyong checkup to mark Korando C

TransportMar 13, 2011

Ssangyong Motor Co. is operating a free checkup campaign until March 19 to mark the launch of its new crossover utility vehicle Korando C.During the period, free checkup services are available at 326 service centers across the country. All Ssangyong vehicles excluding large commercial vehicles are eligible to receive services.The checkup will go over 10 items including the air conditioning system,
Veloster prize in Hyundai music video contest

TransportMar 13, 2011

Hyundai Motor Co. is holding a music video producing contest offering the new Veloster coupe as the top prize.The contest, which runs from Monday until April 25, is open to those over the age of 18.To enter, applicants need to produce an 80-seond-long music video for Mason Bates’ Mothership Remix to the theme of the carmaker’s new slogan “New Thinking. New Possibilities.”Applications can be filed
Win Chevrolet cars with GM Korea

TransportMar 13, 2011

GM Korea Co. is holding an online promotion event for Chevrolet vehicles offering one each of the six Chevrolet models ― Aveo, Camaro, Cruze, Captiva, Orlando and Spark.The event, which will run from Tuesday until April 30, requires contestants to write short notes about the six Chevrolet vehicles at the event’s website at www.event.chevrolet.co.kr in the first stage.In the second stage, contestan
Audi to focus on emerging markets to push BMW out of top spot

TransportMar 13, 2011

Volkswagen AG (VOW)’s Audi will add models and expand production in emerging markets as the luxury brand aims to topple Bayerische Motoren Werke AG (BMW) as the largest premium-car maker.“We expect further growth in the long term,” Chief Executive Officer Rupert Stadler said on March 8 at Audi’s annual press conference in Ingolstadt, Germany. “This gives us the confidence to extend our product ran
Toyota pushes U.S. image boost, emerging-market gains

TransportMar 13, 2011

Toyota Motor Corp. president Akio Toyoda set the world’s largest carmaker on a course seeking sales growth in emerging markets and an improved image in the U.S., in a bid to rebound from record recalls and a recession.Toyoda laid out a “Global Vision” focused as much on boosting emotional ties to customers as on financial targets. His plan also shrinks Toyota’s board to 11 members from 27, the aut
4 financial groups vie for ailing savings banks

Mar 13, 2011

Major financial groups have been in keen competition to take over debt-saddled savings banks whose operations were suspended by regulators for liquidity woes.The Financial Services Commission has halted operations of seven savings banks since January. Among the potential buyers targeting them are KB Financial, Woori Financial, Shinhan Financial and Hana Financial.Woori Financial has become the pre
BASF seeks sustainable growth

IndustryMar 13, 2011

Chemical firm also aims to boost presence in Asian construction marketLUDWIGSHAFEN, Germany ― Chemical plants have been associated with toxic materials harming the air, water and ecosystem, a major hurdle to the industry’s sustainable growth. BASF, a leading global chemical firm, shows how technology, strategy and devotion to the community can tackle these challenges. The company based in Ludwigsh
Supportive messages flood Web after Japan earthquake

TechnologyMar 13, 2011

Reports of Japan's devastation by a strong earthquake sent many South Koreans online to deliver messages of goodwill, condolences and offers of aid for a third day on Sunday. An urban area devastated by tsunami is seen in Minami Sanriku, Miyagi, northern Japan Sunday, March 13, 2011 after Friday's catastrophic earthquake and tsunami. (AP-Yonhap)The 8.9-magnitude earthquake, the strongest ever in J
Takeover moves may flare up in S. Korea's banking sector: analysts

Mar 13, 2011

The comeback of former Finance Minister Kang Man-soo as the new chief of a state bank is likely to rekindle debate over creating so-called mega financial firms and swirl the banking sector in a wave of takeovers, market watchers said Sunday.South Korea's financial watchdog last week recommended Kang Man-soo, a close confidant of President Lee Myung-bak, as new chairman of the state-run KDB Financi
S. Koreans' overseas travel spending hits 30-month high in Jan.

Mar 13, 2011

South Koreans' spending on overseas travel rose by the most in 30 months in January as the local economy recovered and the local currency ascended to the U.S. dollar, central bank data showed Sunday. South Koreans' expenditure on overseas travel reached US$2 billion in January, up 29.2 percent from a year earlier and marking the highest level since the $2.24 billion recorded in July 2008, acc
Korea to launch grain trading firm in April

Mar 11, 2011

By Shin Hyon-heeKorea’s government and companies will open a grain trading company in Chicago next month, speeding up efforts to ensure stable supply and cope with price swings, a source close to the matter told The Korea Herald.The state-run Korea Agro-Fisheries Trade Corp. (aT) said in January it and large local firms will launch the joint corporation this year to establish a national grain proc
Cheong Wa Dae bristles over Lee’s remarks

IndustryMar 11, 2011

Samsung Electronics chairman Lee Kun-hee is causing a stir with his remarks apparently disparaging the government’s policy performance and castigating a former prime minister’s drive for profit sharing between large and small firms.Asked to assess the Lee Myung-bak administration’s economic policies, he had said on Thursday, “I am not satisfied but still won’t give out a failing mark since the eco
Hyundai Heavy names new co-CEO

IndustryMar 11, 2011

Hyundai Heavy Industries Co., the world’s top shipbuilder, appointed Kim Oi-hyun as co-chief executive during its shareholders’ meeting on Friday.The former shipbuilding division head will replace Min Keh-sik, who had led the firm for the past 10 years. Kim Oi-hyunKim, 57, will oversee management as vice chairman and chief executive, alongside Lee Jai-seong, who became president and chief executiv
Samsung looks to enlist former top BMW designer

IndustryMar 11, 2011

Samsung Electronics is looking to hire Chris Bangle, former chief designer for BMW Group, in pursuit of more stylish products, a company official said.If the two parties reach consent, he is likely to take charge of designing mobile phones, netbooks, home appliances and other devices for Korea’s top electronics manufacturer.“Samsung has been trying to offer him an advisory job, not an exclusive co
BOE holds interest rates at 0.5%

IndustryMar 11, 2011

LONDON (AFP) ― The Bank of England on Thursday held its key interest rate at a record low 0.5 percent, where it has now stood for two years, as it balanced strong inflation against a fragile economic recovery.“The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent,” the central bank said in a statement after a