The Korea Herald

Most Koreans not ready for retirement: poll

IndustryFeb 17, 2011

Only 9 percent of Koreans believe they are financially prepared to retire, a survey showed.The figure is significantly lower than the world average of 30 percent ― 34 percent for Europeans and 32.5 percent for North Americans ― research firm Nielsen Company said.The poll also showed that nearly 40 percent of Koreans are expected to retire before turning 60 years old. The company surveyed 26,000 pe
KITA to step up support for small exporters, service firms

IndustryFeb 17, 2011

Chairman SaKong calls for need to foster services industry, FTAsThe Korea International Trade Association will boost support for small and medium exporters and the services sector to help the country achieve $1 trillion trade this year, its chairman SaKong Il said Thursday.“The Korean trade industry achieved a notable result last year despite the sluggish global economy. We have become the world’s
Samsung launches new 3-D smart TVs

IndustryFeb 17, 2011

Says firm’s next-generation 3-D focus will move from programming to servicesSamsung Electronics, the world’s No. 1 flat-screen television maker, plans to release a new series of full high-definition 3-D smart TVs, upping the ante in its rivalry with LG Electronics.Yoon Boo-keun, president of its visual display business, said Thursday that it will present the new television sets on Friday, changing
BMW launches all-new X3 in S. Korea

TransportFeb 17, 2011

BMW Korea has unveiled new X3 (Yonhap News)BMW Korea has unveiled new X3 (Yonhap News)BMW Korea has unveiled new X3 (Yonhap News)BMW Korea, the South Korean unit of German automaker BMW Group, on Thursday introduced the latest version of the BMW X3 in South Korea.BMW Korea said the New X3 is a "sport activity vehicle" that offers the comfort and driving experience of a sedan, but is perfect for of
Samsung launches new 3D smart TV line

TechnologyFeb 17, 2011

Samsung Electronics Co., the world's largest flat-screen TV maker, said Thursday it released a new line of full HD smart 3D televisions that help viewers get better access to online content and use social networking services. The smart TV line, which comes in 46-inch and 55-inch, is part of Samsung's attempt to grab a larger share of the blooming smart TV market. Samsung aims to sell 12 millio
S. Korean watchdog suspends 2 savings banks

Feb 17, 2011

South Korea's financial regulator on Thursday suspended operations of the country's biggest savings bank and one of its affiliates due to capital shortages triggered by mounting insolvent construction project financing (PF) loans. The Financial Services Commission (FSC) said it suspended Busan Savings Bank, the top savings bank by assets based in the port city of Busan, and its affiliate Daeje
HTC may offer larger tablets to rival Apple, Samsung, CEO says

IndustryFeb 17, 2011

HTC Corp. may introduce larger tablet computers than the 7-inch screen “Flyer” device that the Taiwanese company unveiled Tuesday to challenge the dominance of Apple Inc.’s iPad. “We’re working on several form factors,” HTC Chief Executive Officer Peter Chou said on the sidelines at an industry conference in Barcelona Tuesday when asked whether the company may offer bigger tablets. Sales from tabl
Seoul shares open higher on U.S. economic optimism

Feb 17, 2011

South Korean stocks started higher on Thursday as investor sentiment got a boost from Wall Street gains sparked by growing optimism about the U.S. economic recovery, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 11.36 points, or 0.57 percent, to trade at 2,000.47 in the first 15 minutes of trading. Tech shares were in focus with market leader Samsung Electr
Obama wants FTAs with Korea, Colombia, Panama ratified this year: Geithner

Feb 17, 2011

WASHINGTON (Yonhap) -- The Obama administration is committed to pass through Congress pending free trade deals with South Korea, Panama and Colombia this year, Treasury Secretary Timothy Geithner said Wednesday. "We would like to pass all of them, alongside trade adjustment assistance, and we want to do it this year," Geithner told a Senate Finance Committee hearing. "They're overwhelmingly i
New recruits build bonds at company boot camps

IndustryFeb 16, 2011

New workers learn teamwork and living as part of the firm at induction programsLike many who join large companies in South Korea, Cho Duk-hyun’s career at Daeyang Shipping began with a two-month induction program.While such programs are often associated with tight schedules that begin at the crack of dawn and continue late into the night, and sometimes include activities with little relation to wo
Korea to develop key bullet train components

IndustryFeb 16, 2011

Korea will seek to acquire technology for indigenously manufacturing electric car line systems used to provide power to its bullet trains, the government said Wednesday.The Ministry of Land, Transport and Maritime Affairs said work to develop special metal components and nuts that can permit 25,000 volts of electricity to flow constantly from overhanging wires to a fast moving train should be deve
Samsung updates bada mobile platform

TechnologyFeb 16, 2011

BARCELONA (Yonhap News) ― Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Wednesday that it has released the updated version of bada, the company’s proprietary mobile operating system.Samsung added a multitasking feature and mobile payment technology called Near Field Communication and voice recognition functions to the second generation of its mobile software, bad
GM Daewoo unveils all-new Chevrolet Aveo

IndustryFeb 16, 2011

GM Daewoo Auto & Technology, the Korean unit of U.S. carmaker General Motors Co., on Wednesday revealed its new small passenger car, the Chevrolet Aveo, in Korea.“The all-new Chevrolet Aveo is a fun to drive car with a confident attitude and a big heart,” said Mike Arcamone, president GM Daewoo.“Its bold exterior styling exudes attitude while its big heart is readily apparent with the most spaciou
LGE reveals next generation 3-D TVs

IndustryFeb 16, 2011

LG Electronics on Wednesday unveiled its first 3-D television using film-type patterned retarder panels that it claimed have effectively eliminated problems with the current 3-D technology. The Seoul-based electronics firm said in a press conference that the current shutter glass panels have serious limitations such as flickering and cross talk ― blurry ghosting images ― that viewers have persiste
Hyundai Heavy honored for excellent designs

IndustryFeb 16, 2011

Hyundai Heavy Industries won awards at the 2011 Design Award of the Federal Republic of Germany, the world’s largest shipbuilding firm said Wednesday.The winning products were two types of HiMSEN medium speed marine diesel engine and ship monitoring system ACONIS-DS (advanced control & integration system), the firm said.The HiMSEN engine is an environmentally friendly model which boasts higher out