The Korea Herald

Imported beef market widens

Jul 21, 2011

Imported red meat from Australia, the United States and Europe is enjoying a fast-increasing market share in Korea, benefiting from the huge loss of livestock here after the worst-ever foot-and-mouth disease outbreak in the past year.And competition in the imported beef market is set to become fiercer as Canada will soon resume its beef exports to Korea.Beef and pork from Australia and the United
Renault Samsung to have new CEO

Jul 21, 2011

The Renault Group will appoint Francois Provost, the French carmaker’s deputy managing director in Russia, to head Renault Samsung Motors on Sept. 1, an official at Renault Samsung Motors said Thursday.Provost will replace Renault Samsung’s current CEO Jean-Marie Hurtiger, who took the Seoul office in May 2006.“Renault Samsung will have new leader effective Sept. 1. Francois Provost will transfer
South Korea unveils new light airplane

Jul 20, 2011

The first locally developed civilian aircraft completed its maiden flight at Korea Aerospace Industries in Sacheon, South Gyeongsang Province on Wednesday.Once the project is completed, and necessary certifications are granted for the vehicle, Korea will become the world’s 28th country to have developed civilian aircraft using indigenous technologies. The first locally developed civilian aircraft
Samsung betting big on Galaxy Tab 10.1

Jul 20, 2011

Samsung Electronics appeared to be full of confidence as it launched its second-generation tablet PC, the Galaxy Tab 10.1 in Korea on Wednesday at the company’s headquarters in southern Seoul. Shin Jong-kyun, chief of the global electronics company’s mobile business unit, pledged to sell more than five times more tablets than last year, despite the first Galaxy Tab not having sold as well as Samsu
SKT board members OK platform spin-off

Jul 20, 2011

SK Telecom said Wednesday its board members agreed to spin off its platform unit, most likely headed by platform business president Seo Jin-woo, during a board meeting earlier on Tuesday. Seo Jin-wooCompany officials said the board members approved the spin off to boost the project expertise and strengthen the competitiveness of related projects through efficient distribution of the business reso
SK Communications releases new mobile messenger service

Jul 20, 2011

SK Communications said Wednesday it launched a new mobile messenger service called “NateOn talk” for Android-powered smartphones, claiming it aims to garner up to 10 million users by the year end.SK Communications, operator of the country’s popular social networking site Cyworld, said the new mobile messenger will feature short messaging and mobile voice over Internet protocol services, along with
Miele to strengthen dominance in upscale household appliances

Jul 20, 2011

Miele International, a German manufacturer of high-end home appliances, said Wednesday that it will keep its premium pricing strategy despite expectations that the company could lower product prices here following the Korea-EU free trade agreement. Markus Miele (Miele Korea)“We also do not consider any dramatic price increase for now, even though raw material costs have soared recently,” Markus M
LG Chem logs high sales, Hana Financial profits up

Jul 20, 2011

LG Chem, the nation’s leading chemical company, on Wednesday logged record-high quarterly sales of 5.69 trillion won ($5.3 billion) for the second quarter of this year to record a 13.4-percent increase from last year.Operating profit and net profit, however, declined on the back of sluggish market conditions and soaring material costs, the company said. Operating profit stood at 775.4 billion won,
GS Group chief stresses innovation

Jul 20, 2011

GS Group chairman Huh Chang-soo called on group executives to go beyond developing new products and services as the group aims to become an “ultra first-rate” corporation. Huh Chang-sooSpeaking at the executives meeting for the third quarter on Wednesday, Huh also said that corporations need to go beyond developing new products and services if they are to address current issues.“The aim of managem
LG Innotek touted for mutual growth efforts

Jul 20, 2011

LG Innotek, the LG Group’s component-making affiliate, received the highest score in its cooperative business partnership with smaller businesses, the state-run antitrust regulator said Wednesday.The Fair Trade Commission conducted an evaluation of 21 major conglomerates that have signed a “shared-growth agreement” between March and June. A total of 93 major businesses here have agreed to the volu
LGE making ripples with water treatment drive

Jul 20, 2011

Global electronics maker building reputation to attain industry leadershipLG Electronics is increasing the drive to ratchet up its market share in the water treatment industry, a move considered to be both timely and lucrative due to the mounting concerns for water shortage amid a global initiative to promote eco-friendly growth. “Climate change and environmental pollution are expected to continue
Overseas projects fuel KEPCO’s growth

Jul 20, 2011

Power plants, resource development complement KEPCO’s business modelKorea Electric Power Corp.’s rapidly expanding overseas portfolio is fueling the company’s growth and its drive to become one of the top five players in the world’s power industry.Earlier this year, the company announced a set of long-term plans under which it aims to raise its annual sales to 85 trillion won ($80.5 billion) by 20
Iran warns it may halt crude supplies to India

Jul 20, 2011

TEHRAN (AFP) ― Iran on Tuesday issued a new warning that it will halt supplies of crude to India unless the issue of billions of dollars in overdue payments is resolved.“If the Iranian side feels it cannot receive the money for its exported oil punctually and under desirable conditions, it will reconsider” its crude exports to India, foreign ministry spokesman Ramin Mehmanparast told his weekly pr
PCs start to look like tablets

Jul 20, 2011

iPad’s advantages make it a threat to entire computer marketNEW YORK (AP) ― The response by computer makers to the iPad stealing sales from them: Make their PCs more like iPads.The “if you can’t beat ‘em, join ‘em” strategy is prompting a wave of experimentation with the design of the laptop, which has been largely unchanged for two decades. Touch-sensitive screens and the use of Google’s Android
Apple directors talked CEO job with recruiters: report

Jul 20, 2011