The Korea Herald

Industrial output grows 9.8% in Dec.

Jan 31, 2011

Data shows recovery on track, adds pressure for rate increaseKorea’s industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track and adding to the case for the central bank to raise borrowing costs again.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the sa
Wrap accounts may double

Jan 31, 2011

Individually tailored equity portfolios may double in Korea this year as investors shift cash from index-tracking mutual funds, advisory firm Korea Creative Investment said. Brokerages sold $1.2 billion of products to individual investors based on Korea Creative’s stock picks within a month of the company starting business Dec. 13, Seo Jae-hyeong, chief executive officer of the Seoul-based firm, s
KEPCO narrows loss on higher prices, won

IndustryJan 31, 2011

Korea Electric Power Corp., the country’s biggest electricity producer, posted a narrower fourth-quarter loss after the government allowed power prices to increase for the first time in more than a year and a stronger won cut the cost of its foreign-currency loans.The loss shrank to 18.2 billion won ($16.2 million) in the three months ended Dec. 31 from a deficit of 336.4 billion won a year earlie
S-Oil assists scientific research

IndustryJan 31, 2011

S-Oil Corp., Korea’s third-largest oil refiner, established a scholarship foundation Monday to support science studies and research, the firm said. The S-Oil Science Prodigy and Culture Foundation will offer scholarships to outstanding science or engineering university students and fund research institutes’ projects. The firm will invest 2.1 billion won ($1.8 million) in the foundation this year,
Hyundai Heavy delivers a record 1,700th ship

IndustryJan 31, 2011

Hyundai Heavy Industries Co. has delivered its 1,700th vessel, becoming the world’s first shipyard to pass the milestone figure, the firm announced Monday.The shipyard’s 1,700th vessel, a car carrier capable of loading 8,100 vehicles, was delivered to the Seoul-based EUKOR Car Carriers Inc. EUKOR Car Carriers is one of the world’s largest shipping firms specializing in automobile transportation, a
KT’s new broadcast satellite begins operation

IndustryJan 31, 2011

Olleh-1 satellite allows high-definition images and 3-D programsKT Corp is to begin offering commercial high-definition digital images and 3-D programming services after its new broadcast satellite entered geostationary orbit earlier last month, the company said Monday.The Olleh-1 satellite has also successfully taken on the services formerly provided by broadcast and communication satellite Mugun
Japan industrial output gains most in 11 months

IndustryJan 31, 2011

Japan’s industrial production increased the most in 11 months in December, boosted by overseas demand that’s spurring the nation’s recovery. Factory output climbed 3.1 percent from November, when it rose 1 percent, the Trade Ministry said in Tokyo Monday. The median estimate of 29 economists surveyed by Bloomberg News was for a 2.8 percent gain. Honda Motor Co. and Nissan Motor Co. are among compa
S. Korean memory chipmakers see DRAM price rebound in Q1

TechnologyJan 31, 2011

Plunging prices of dynamic random access memory (DRAM) chips, a key component in personal computers, have hit the bottom line and will rebound soon, senior officials from Samsung Electronics Co. and Hynix Semiconductor Inc. said Monday. The remarks from Kwon Oh-hyun, president of Samsung's semiconductor division, and Kwon Oh-chul, Hynix's chief executive officer, come after DRAM devices for PC
Seoul shares plunge on Egyptian unrest

Jan 31, 2011

South Korean stocks ended 1.81 percent lower on Monday as foreigners dumped shares amid growing concerns over political protests in Cairo, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 38.14 points to 2,069.73. Trading volume was moderate at 316.9 million shares worth 7.29 trillion won ($6.5 billion), with
Financial firms to feel limited impact from Egyptian riots: watchdog

Jan 31, 2011

Anti-government protests in Egypt will likely have a limited impact on South Korean financial companies in light of their minimal exposure to the North African country, the financial regulator said Monday. As of the end of September, domestic financial companies owned no securities of or loans to Egypt and their borrowing from the country reached only US$6 million, the Financial Supervisory Ser
Samsung, LG in war over smart living room

TechnologyJan 31, 2011

Korean electronics companies compete in rolling out higher-performance, slicker smart TVsKorean electronics giants of Samsung and LG are engaging in a heated competition to seize the next stage of home entertainment with new smart TVs and application marketplaces.The world’s two largest TV manufacturers have recently released bigger, thinner and slicker products that allow users to access the Inte
Watchdog probing Korean Air for alleged price fixing

IndustryJan 31, 2011

South Korea's anti-trust watchdog is investigating price-rigging allegations that Korean Air, the nation's flag carrier, colluded in fixing prices with a Mongolian airline company for flight services to the central Asian country, officials said Monday. The investigation by the Fair Trade Commission (FTC) focuses on relatively expensive flight ticket prices between Incheon and Ulan Bator offere
Zuckerberg 'friends' actor in Facebook movie

IndustryJan 31, 2011

The Oscar-nominated movie "The Social Network" paints an unflattering portrait of Mark Zuckerberg but the Facebook founder apparently doesn't hold a grudge.Zuckerberg, 26, came face-to-face during a guest appearance on the popular NBC comedy show "Saturday Night Live" with Jesse Eisenberg, who received a "Best Actor" nomination for his portrayal of the Facebook creator. Jesse Eisenberg (left, MCT)
S. Korea's industrial output grows 9.8 pct in Dec.: govt report

IndustryJan 31, 2011

South Korea's industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track, a government report showed Monday. According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the same month a year earlier. The output has expanded since July 2009. Production grew 2.8 p
Obama likely to submit Korea FTA to Congress in March: report

Jan 31, 2011

The Obama administration will likely submit the pending free trade deal with South Korea to Congress in late March after undergoing a series of congressional hearings next month, reports said Sunday. U.S. Trade Representative Ron Kirk is expected to appear at hearings at the House Ways and Means Committee and the Senate Finance Committee in mid-February to "pave the way for a mock markup of th