The Korea Herald

Double investment ban victimizes TV applicant

IndustryJan 3, 2011

Panel applies impractical rule too strictly in selecting new cable television operators The recent selection of successful applicants for general and news programming television licenses resulted from the application of ambiguous criteria which may be viewed as illegal. The ignorance over a criterion which restricts double investment by a stakeholder of an applicant in another applicant has led to
Samsung sold 10m Galaxy S phones globally

IndustryJan 3, 2011

Samsung Electronics has sold more than 10 million units of its Galaxy S smartphone worldwide since its debut in June, the company said Monday.Four million were sold in North America, 2.5 million in Europe and 2.2 million in Korea.The figure is nearly twice the number of smartphones it sold in 2009. The world’s second-largest handset maker said the Galaxy S’ popularity is growing at a fast pace. It
Airline fuel surcharges may decline

IndustryJan 3, 2011

The government is planning to reduce fuel surcharges on international flights this year due to a drop in international crude oil prices, the Ministry of Land, Transport and Maritime Affairs said Monday. The ministry said it will reform the current fuel surcharging system, categorized only in terms of long-distance and short-distance flights. It plans to specify classifications according to flight
New chief regulator sets hardline stance

Jan 3, 2011

Kim Seok-dong, new chief of the Financial Services Commission, said Monday that the financial regulator will actively intervene in the market if necessary for stability.“To secure order and stabilize the market, the authority will take stern measures. On the other hand, the authority will guarantee sufficient autonomy for the sake of reform and development of the market,” he told reporters after t
Lee to focus on inflation, job creation...　

Jan 3, 2011

President Lee Myung-bak said Monday that his economic policies will focus on strong economic growth, job creation and a firmer middle class. “This year, our goals in running the economy are: a high economic growth rate of over 5 percent, inflation of under 3 percent, the creation of good jobs and improvement in quality of life of middle- and low-income families,” Lee said in his New Year’s address
Korea expands animal vaccinations to stem foot-and-mouth spread

Jan 3, 2011

Korea decided Monday to greatly expand animal vaccinations to stem outbreaks of foot-and-mouth disease, which continues to spread throughout the country despite nationwide quarantine efforts, the government said.Farm Minister Yoo Jeong-bok said in a news briefing that shots will be administered to all animals in Gyeonggi Province surrounding Seoul and large parts of Chungcheong in the country’s ce
Hyundai Heavy gives 5 billion won to charity

IndustryJan 3, 2011

Hyundai Heavy Industries donated 5 billion won ($4.4 million) to the Community Chest of Korea on Monday.“I hope that the donation can in a small way help in giving hope and courage to those who are experiencing financial difficulties,” Hyundai Heavy Industries president and chief executive Lee Jai-seong said. Lee Jai-seongMonday’s donation is the latest in a series of corporate social responsibili
Vizio to challenge Apple with cheaper smartphone, tablet

IndustryJan 3, 2011

Vizio Inc., the second-largest U.S. television supplier, will introduce a low-cost smartphone and tablet computer using Google Inc.’s Android software to attract consumers who cannot afford Apple Inc.’s devices. The smartphone with a 4-inch screen and tablet with an 8- inch display will be unveiled at the Consumer Electronics Show in Las Vegas, which begins Jan. 6, Chief Technology Officer Matthew
VW extends CEO’s contract until 2016

IndustryJan 3, 2011

Volkswagen AG extended Chief Executive Officer Martin Winterkorn’s contract by five years, giving the executive the time to complete a merger with Porsche SE and surpass Toyota Motor Corp. as the biggest automaker. VW’s supervisory board unanimously backed the CEO’s appointment through 2016, the Wolfsburg, Germany-based company said Sunday. Winterkorn, 63, took over as CEO on Jan. 1, 2007 and his
Samsung ships more than 10 mln Galaxy S phones in 7 months

TechnologyJan 3, 2011

Samsung Electronics Co., the world's second-largest cell phone maker, said Monday that it has delivered more than 10 million Galaxy S phones to global mobile operators in about seven months of its debut. Samsung sold 4 million Galaxy S phones in North America, 2.5 million in Europe and 2 million on its home turf, South Korea, the company said in a statement. Samsung Galaxy S smartphone (Yonh
Seoul shares open higher on tech gains

Jan 3, 2011

South Korean stocks got off to a strong start on Monday in the first trading of the year, buoyed by gains in technology shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.9 points, or 0.29 percent, to 2,056.9 in the first 15 minutes of trading. Tech issues led the climb with chip giant Hynix Semiconductor adding nearly 4 percent. Financial shares also len
Stocks outdo real estate in 2010

Jan 2, 2011

Stocks and equity funds were the most profitable investments in 2010 with the domestic securities market emerging strongly from the financial crisis, industry data showed.Investors in real estate, however, suffered from lackluster yields as the property market remained sluggish despite government stimulus. The benchmark KOSPI rose by 21 percent throughout 2010 to reach 2,051 points on Thursday, th
New FSC chief likely to accelerate M&As

Jan 2, 2011

Three new policymakers join Lee's economic teamThe stalled consolidation of the financial industry is likely to gain momentum this year under new top regulator Kim Seok-dong, renowned for drive and problem-solving ability. President Lee Myung-bak on Friday named Kim, 57, chairman of the Financial Services Commission. He will take office on Monday. As a former director general and vice chairman of
Corporate leaders stress innovation, growth for 2011

IndustryJan 2, 2011

By Choi He-suk Korea’s top companies are bracing for the New Year challenges of both consolidating their market leadership and developing new growth businesses.Innovation, quality, future growth, core capabilities and human resources are keywords in the New Year’s messages of leading companies as they put out strategies to tackle global uncertainties, a slowing overseas demand and tougher challeng
Hyundai takes 2nd spot in China

TransportJan 2, 2011

Hyundai Motor Group announced Sunday that the combined sales of Hyundai Motor Co. and Kia Motors Corp. in China came in at 1.1 million units last year, up 28.2 percent compared to 2009.With the increase, the group took 9 percent of the Chinese market and became the second-largest automotive group operating in China, the company said.Hyundai was fourth with about 700,000 units sold in China while K