The Korea Herald

LSIS eager for shared growth with small firms

Nov 28, 2013

LS Industrial Systems Co. aims to create a synergy effect between itself and smaller companies by establishing strong business partnerships, the company announced.By forming and managing the “ACE Club,” the company’s systematic structure for providing management know-how to selective business partners, LSIS has helped numerous small- and medium-sized enterprises gain a competitive edge since 2008.LSIS helps its partners build an infrastructure that promotes skilled employees, the formation of a
Smoking ban hurts restaurant business: survey

Nov 28, 2013

Six in 10 restaurants in South Korea suffered a decline in their revenues after an indoor smoking ban was imposed nationwide in July, a survey showed Thursday. According to the survey of restaurant owners, nearly 59.3 percent of respondents said their revenues had fallen as a result of the new smoking regulations and the average reported fall in revenues was 17.6 percent. The smoking ban went into effect on July 1, affecting certain restaurants based on their size. But all restaurants will be sm
S. Korea's current account surplus hits record high in Oct.

Nov 28, 2013

South Korea's current account surplus hit a record high in October on the back of brisk exports of cars, chips and tech products, the central bank said Thursday.The current account surplus reached US$9.51 billion in October, up from a revised $6.54 billion in the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.The October data marked the highest level since January 1980 when the BOK began to compile related data.Korea posted
International school quotas for Korean students may rise

Nov 27, 2013

The government is seeking to raise the admissions cap for local students in international schools in free economic zones, officials said Wednesday.The move is in line with its efforts to attract a wider spectrum of students and resolve persistent financial difficulties facing international schools in Korea.The Ministry of Education is to hold an open forum this week on ways to reform the current regulations on education, medical services and manufacturing industries, and then deliver the results
[Graphic News] Korea’s underground economy

Nov 27, 2013

The size of Korea’s underground economy reached an estimated 314.3 trillion won in 2012, about 24.6 percent of its nominal gross domestic product, according to a report by LG Economic Research Institute released Tuesday.It is an increase of 8.4 percent from the 289.8 trillion won recorded in 2010. The Park Geun-hye government seeks to bring the shadow economy to light to raise tax revenue.
KEPCO powers its way into Middle East market

Nov 27, 2013

Jordan takes on the role of strategic hub for KEPCO’s power biz expansion in the region
Gov't to ease rules for financial firms' overseas expansion

Nov 27, 2013

The government rolled out Wednesday a set of long-term plans to help South Korean financial companies expand their overseas footholds, as part of a broader move to boost growth in the financial industry.The Financial Services Commission (FSC), the country's top financial regulator, will allow local banks to acquire a financial holding company based overseas so that the lender can expand investment in a foreign country.Under the envisioned plan, the FSC will lower the required stake threshold for
Korea's economic activity edges up in Oct., Nov. : BOK report

Nov 27, 2013

South Korea's economic activity inched up in October and November, compared with the third quarter on improving exports and marginal increases in consumption and facility investment, the central bank said Wednesday.Asia's fourth-largest economy has been on a modest recovery track since the fourth quarter of last year and the recovery momentum is seen as being further strengthened, the Bank of Korea (BOK) said in the report dubbed the BOK Golden Book.The BOK released the Korean version of the U.S
Korean manufacturers' confidence for Dec. falls to 3-month low

Nov 27, 2013

Business sentiment among local manufacturers declined to the lowest in three months in December amid lingering economic uncertainty, the central bank said Wednesday.The index that gauges manufacturers' outlook on business conditions reached 78 for December, down from a 17-month high of 83 recorded for November, according to a monthly survey from the Bank of Korea (BOK). The index measures manufacturers' expectations for the coming month.The December data marked the lowest level since 77 tallied
[Photo News] Seeking part-time jobs

Nov 26, 2013
Airlines to face suspension in case of fatal accident

Nov 26, 2013

The government said Tuesday that airline companies involved in aviation accidents would face reinforced penalties including a flight suspension of up to 30 days.The board of flight safety, affiliated with the Ministry of Land, Infrastructure and Transport, announced a set of comprehensive flight safety measures, which officials said will be included in the government’s incoming flight safety bill.The measures are a follow-up to the government’s efforts to enhance aviation safety after the Asiana
[Graphic News] R&D investment by Korean firms

Nov 26, 2013

Korean firms’ investment in research and development leans toward the electronics sector, reaching 46.6 percent of total R&D spending in 2011, according to a report by the Korea Institute of Science and Technology Evaluation and Planning. But the levels of investment in the high-tech industries of aerospace technology, pharmaceuticals and machinery stalled at 0.2 percent, 2.3 percent and 2.4 percent, respectively.
S. Korea faces scaled-back spending under provisional budget: sources

Nov 26, 2013

The delayed passage of South Korea's budget for next year by a protracted parliamentary stalemate is raising concerns that the government might have to prepare a provisional budget for the first time in history, which could eventually severely hurt its spending capacity intended to help boost the economy, experts and government sources said Tuesday.In September, the government drew up a 357.7 trillion won ($337.6 billion) budget proposal for 2014, which is larger than the 342 trillion won budget
S. Korea's consumer sentiment hits 33-month high in Nov.

Nov 26, 2013

South Korean consumer sentiment rose to the highest level in 33 months in November as the local economy has been showing signs of improvement, the central bank said Tuesday.The consumer sentiment index (CSI) came in at 107 for November, up from 106 tallied in the previous month, according to the Bank of Korea (BOK). The index is a gauge of consumers' overall economic outlook, living conditions and future spending.The November data marked the highest level since the index hit 109 in February 2011
Insurers' loan delinquency ratio falls in Sept.

Nov 26, 2013

The delinquency ratio of loans extended by South Korean insurers fell slightly in September from a month earlier due mainly to a decrease in overdue debts from both corporate and household lending, the financial regulator said Tuesday. The average bad debt ratio of local life and non-life insurers came to 0.69 percent at the end of September, down 0.06 percentage point from the previous month, according to the Financial Supervisory Service (FSS). Compared with a year earlier, the figure declined