The Korea Herald

[Meet the CEO] Focus on innovation, customer drives Merck growth

IndustryMar 24, 2011

Korea unit’s chief expects OLED, clinical trials to be prospective in tech-savvy local marketDuring the 2008-09 economic crisis, many companies curtailed their costs, their workforces and their investments as they strove to survive the worst global slowdown since the Great Depression of the 1930s. Merck Korea, the local unit of the world’s oldest chemical and pharmaceutical firm, was one of the fe
LS Cable introduces new English name

IndustryMar 24, 2011

South Korea's top wire and cable maker LS Cable Ltd. said Thursday that it has changed its English name to LS Cable & System Ltd. to reflect the company's growing businesses. Shareholders adopted the new English name on Wednesday as the new name better indicates the company's expansion into businesses that offer a package of applications, equipment, software and systems to clients, the compan
Kia Motors exports reach 10 mln vehicles

TransportMar 24, 2011

Cumulative exports by South Korea's second-largest automaker Kia Motors Corp. surpassed 10 million units on Thursday, a feat achieved 36 years after it started overseas shipments in 1975, the company said. It took 30 years for Kia Motors to reach the 5 million unit export mark, but only six years since 2005 to reach 10 million. The number only includes vehicles shipped from South Korea.Overs
Samsung mass produces denser, slimmer mobile chips

TechnologyMar 24, 2011

Samsung Electronics Co., the world's top memory chipmaker, said Thursday that it has begun mass production of a new type of mobile dynamic random access memory (DRAM) that packs denser memory in a slimmer package. Earlier this month, Samsung started mass producing the 4-gigabit, low power double-data-rate 2 (LPDDR2) DRAM based on 30-nanometer class technology, the company said in a statement.
S. Korea to extend anti-dumping duties on Chinese glass

Mar 24, 2011

South Korea's trade commission said Thursday that it has decided to extend anti-dumping duties on Chinese float glass products, citing unfair price cuts. The Korea Trade Commission said punitive duties of 12.04-36.01 percent will be maintained on Chinese imports for the next three years. The decision follows investigations carried out following formal complaints raised by KCC Corp. and Han
New tablet PC battle brewing

IndustryMar 23, 2011

Apple’s iPad 2 to come to Korea next month, while Samsung, LG prepare to launch new line-upA new round of tablet PC competition is heating up as major electronics makers announced plans to release their new products on Wednesday.Samsung Electronics, the world’s No. 2 handset maker, released two different sizes of the upgraded Galaxy Tab ― 8.9 inch and 10.1 inch ― while LG Electronics presented its
Childbirth grows over 10%

IndustryMar 23, 2011

Childbirth in Korea grew over 10 percent in January from a year earlier as improving economic conditions encouraged couples to have more babies, a government report showed Wednesday.According to the report by Statistics Korea, the number of babies born in January stood at 47,500, up 10.7 percent, or about 4,600 from the same month a year earlier. The January figure marked the 11th consecutive on-y
SKT to export RFID reader technology

IndustryMar 23, 2011

SK Telecom, the country’s top mobile carrier, said Wednesday it has signed a deal for the first exports of its universal subscriber identification module, which could help businesses better manage products such as liquor and pharmaceuticals.SKT said that the company and its Chinese partner Sunnada Communication Co., a leading wireless coverage solution provider in China, agreed in Beijing to sell
Energy costs to face upward pressure: minister

IndustryMar 23, 2011

Japan’s earthquake will likely exert upward pressure on energy prices over the short term as the disaster, along with unrest in Arab countries, increases market volatility, the finance minister said Wednesday.“The massive earthquake in Japan is expected to disrupt supply and demand of major energy resources over the short haul, possibly causing price fluctuations,” Finance Minister Yoon Jeung-hyun
Shinhan Financial head vows to repair image

IndustryMar 23, 2011

Shinhan Financial Group Co.’s new chairman vowed Wednesday to make all-out efforts to restore its tainted image and regain shareholder trust following last year’s high-profile management feud.Han Dong-woo was inaugurated as the chairman of Shinan Financial, replacing Ryoo Shee-yul, who had served as the acting chief of the country’s third-largest banking group by assets since October.“I will use e
KT&G to build ginseng plant in northeast China

IndustryMar 23, 2011

KT&G Corp., the nation’s largest tobacco producer, said Wednesday that it is to launch a ginseng business in the northeastern Chinese province of Jilin.Seeking to diversify its portfolio, the company has been enhancing its Oriental healthcare business, for which China is considered the world’s largest market.KT&G signed a memorandum of understanding on Tuesday with the governments of Jilin and Yan
POSCO to support SMEs for global competitiveness

IndustryMar 23, 2011

POSCO announced Wednesday that it would support local small- and medium-sized enterprises to secure competitiveness in the global market.The steelmaker formed a partnership with 28 small- and medium-sized companies to collaborate in developing each of them into a “leading midsized company of global standing” on Wednesday. SMEs that signed on to POSCO’s scheme include industrial equipment makers Se
Tariff-free import quotas to be raised for livestock

IndustryMar 23, 2011

South Korea, battling outbreaks of foot-and-mouth disease and bird flu, will increase tariff-free import quotas of breeding pigs, chickens for breeding and seed corn to ease a shortage and stabilize prices.The government boosted the quotas for breeding pigs to 5,000 from 1,850 head and to 661,000 from 461,000 for breeding chickens, the Ministry of Strategy and Finance said Wednesday. The measures
Hyundai Heavy opposes HMM share sale plan

IndustryMar 23, 2011

Hyundai Merchant Marine Co., the biggest unit of Korea’s Hyundai Group, jumped the most in almost four months in Seoul trading as opposition to a share sale plan prompted speculation it may be a takeover target.The shipping line rose by the daily limit of 15 percent limit, the biggest climb since Nov. 30, to close at 33,250 won in Seoul. The stock was the second-best performer on the KOSPI index W
Loan rules to hurt home sales

Mar 23, 2011

Reinstating debt-to-income caps may further weaken property marketKorea’s plans to reinstate mortgage lending limits that were temporarily scrapped in August to spur property transactions may lead to a further decline in the real estate market. Korean banks will resume restrictions on the amount of loans homebuyers can get as a proportion of their annual income starting in April, the government sa