The Korea Herald

Samsung unveils upgraded Galaxy S, Galaxy Tab

IndustryFeb 13, 2011

Samsung Electronics unveiled the upgraded versions of its flagship smartphone Galaxy S and its tablet PC Galaxy Tab in an event one day before the launch of the global mobile industry show in Barcelona on Sunday.In an event called the “Samsung Mobile Unpack,” the world’s second-largest handset maker presented Galaxy S 2 and Galaxy Tab 10.1, while designating 2011 as the year of smart mobile device
Milk shortage from FMD affecting local industries

IndustryFeb 13, 2011

A nationwide milk shortage caused by the severest foot-and-mouth disease outbreak in Korea’s history is affecting local confectionery and dairy industries, corporate sources said Sunday.Sources from Seoul Milk, Namyang Dairy Product Co. and the Korea Bakers Association said that as of December, the reserves of powdered skim milk stood at just 938 tons or a 77.3 percent drop from 4,137 tons reporte
Underground economy shrinks to 17% of GDP

Feb 13, 2011

The size of the so-called underground economy in Korea has been shrinking steadily since the early 1990s due to increased transparency of financial transactions, a report showed.According to the report by the Korea Institute of Public Finance, the size of the untaxed portion of the Korean economy was estimated at 17.1 percent of the gross domestic product in 2008, lower than 28.7 percent in the 19
Larger, faster, smarter devices to steal show

TechnologyFeb 13, 2011

BARCELONA, Spain (Yonhap News) ― Larger, faster and smarter smartphones and tablets are expected to steal the show this week at the wireless industry’s biggest trade show in Spain, signaling a new round of competition among vendors in the sector’s fastest growing and the most vibrant segments. Among the mobile devices and wireless technologies that will be on display by some 1,360 companies at thi
Greece blasts demand on asset sale

Feb 13, 2011

Athens slams debt inspectors after IMF and EU visit, accusing them of overstepping rolesATHENS (AP) ― An indignant Greece slammed EU and International Monetary Fund inspectors overseeing its efforts to reform its debt-crippled economy, accusing them Saturday of overstepping their role and interfering in Greece’s internal affairs.In an unusually harshly worded, pre-dawn statement, government spokes
Household debt rises in 2010

Feb 13, 2011

Korea’s household debt, a major economic risk factor, rose sharply last year, raising concerns about an increase in defaults, a private credit appraiser reported Sunday.At the end of December, financial institutions had 722.8 trillion won ($642 billion) in outstanding loans to the household sector, up 6.9 percent from a year earlier, according to the Korea Credit Bureau.Of the total, unsecured hou
Hyundai Motor recruits ...overseas talent

TransportFeb 13, 2011

Hyundai Motor Group’s overseas recruitment drive will begin Monday, the company announced Sunday. The group’s three main automotive businesses ― Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. ― will receive applications from overseas-educated individuals with master’s or Ph.D. degrees with two or more years of work experience.The selection process will be conducted from Feb. 14 through
Local firms to show 4G tech at Barcelona

TechnologyFeb 13, 2011

Local firms are moving quickly to present their fourth-generation mobile communication network technology Long Term Evolution at the global mobile industry show in Barcelona this week.Samsung Electronics and KT Corp. announced on Sunday that they will cooperate with global chipmaker Intel to test the new LTE technology at the 2011 Mobile World Congress from Feb. 14-17.The next generation mobile co
BOK may raise rates in March over price pressures

Feb 13, 2011

The Bank of Korea may raise borrowing costs again as early as March to counter inflation pressures after unexpectedly leaving policy unchanged Friday. Governor Kim Choong-soo and his officials held the seven- day repurchase rate at 2.75 percent in a split decision, after economists had forecast a quarter-point increase. Goldman Sachs Group Inc. and HSBC Holdings Plc say the next move will be next
Foreigners turn net sellers of local shares

Feb 13, 2011

After spearheading last year’s bull run of the Korean market, foreigners have shifted to big net sellers of local shares this year due to concern over global inflation and other negative factors, industry sources said Sunday.As of Friday, foreign investors sold a net 2.06 trillion won ($1.83 billion) worth of Korean stocks, according to the Korea Financial Investment Association and Hana Daetoo Se
Baby Audi SUV to debut at Frankfurt

TransportFeb 13, 2011

INGOLSTADT, Germany (DPA) ― Audi’s new baby sports utility vehicle, the Q3, is expected to debut at the Frankfurt Motor Show in September, adding spice to the small compact SUV sector in competing against the BMW X1 and the upcoming Mercedes BLK.Spy shots reveal design details from the A1 and Q5 with the technical platform coming from the VW Golf and VW Tiguan.The engine range is also likely to co
GM Daewoo receives orders for Orlando

TransportFeb 13, 2011

GM Daewoo Auto and Technology Co. announced Sunday that it will receive orders for the Chevrolet Orlando minivan from Monday. Unveiled on Feb. 9, the vehicle is scheduled for launch on March. 2.The vehicle, which has been dubbed Active Life Vehicle by the company, is the first of the eight Chevrolet models the company will launch here this year. OrlandoThe car comes with a 2-liter turbocharged die
Hyundai tops U.S. customer loyalty survey

TransportFeb 13, 2011

Hyundai Motor Co. announced Wednesday that it was ranked top among carmakers in a U.S. survey for customer loyalty for the second consecutive year in a survey conducted by the market research firm Brand Keys Inc.According to the carmaker, Brand Keys survey results carry significant weighting with U.S. consumers and can contribute to retaining and expanding the customer base. In addition, Hyundai a
Service for post-warranty Porsches

TransportFeb 13, 2011

Stuttgart Sports Cars, the official importer of Porsche vehicles, is offering free checkup services and discounts on maintenance fees for Porsche vehicles with expired warranties until March 19.The offer is limited to vehicles purchased through the company before January 2007. During the period, those with vehicles meeting the requirements will be offered a 15 percent discount on parts, and 10 per
Power package makeover for new Mercedes CLS 63 AMG

TransportFeb 13, 2011

STUTTGART, Germany (DPA) ― Mercedes has given the CLS 63 AMG a makeover with the top-of-the-range version of the four-door coupe equipped with the newly developed AMG V8 bi turbo engine with an output of 410 kW/557 hp.At the same time fuel consumption has been reduced to 9.9 liters per 100 kilometers, an improvement of 32 percent compared to the predecessor model, according to the car maker.A majo