The Korea Herald

More SMEs see positive changes from shared-growth project

Jul 18, 2011

Small- and medium-sized enterprises say that positive changes have been seen since Sept. 29 when the government drew up a comprehensive plan to promote shared-growth, the Ministry of Knowledge Economy said Monday.According to the ministry, which inspected 12 industrial complexes to gauge SMEs’ sentiments, more SMEs responded that large firms were adopting measures promoted under the project.Change
Makgeolli boom driven by exports to Japan

Jul 18, 2011

Shipments of makgeolli soared last year largely driven by a recent surge in exports to Japan, data showed Monday. A total of 412,000 kiloliters of the Korean rice wine were shipped here in 2010, up 58.1 percent from the previous year, according to the National Tax Service.In the local alcohol beverage market still dominated by soju, a Korean distilled beverage made from rice and other starches, an
Korean fake bills increase 8.4% in H1

Jul 18, 2011

The number of counterfeit South Korean banknotes rose 8.4 percent in the first half from a year earlier mainly due to a jump in the discovery of fake banknotes in the second-highest denomination, the central bank said Monday.The number of counterfeit bills found in the country reached 5,153 in the January-June period, compared with 4,755 the previous year, according to the Bank of Korea. Compared
Hyundai Heavy to set up switchgear plant in Russia

Jul 18, 2011

Hyundai Heavy Industries announced Monday that it will establish Hyundai Electricsystems in Vladivostok, Russia, that will produce gas insulated switchgears.Gas insulated switchgears are equipment used to control electricity flow, and to cut off power if a fault occurs in a power supply system.The company said it will invest 40 billion won ($38 million) in building the plant, and that the facility
Samsung’s mobile chief bullish on smartphones, tablet PCs

Jul 18, 2011

Samsung Electronics Co. is expected to outdo its smartphone sales target this year, with the popularity of its latest Android devices and upcoming bada phones, which run on its own mobile software, and a ramp-up in low-cost smartphones, Samsung’s mobile and camera chief said Monday. The world’s second-largest maker of mobile phones, which competes with Apple Inc.’s iPad in the tablet PC sector, is
Mulberry is world’s top fashion retailer

Jul 18, 2011

Mulberry Group Plc, the 40-year-old British luxury-handbag maker, is the world’s best-performing fashion retail stock over the past year and its sales may keep gaining, driven by overseas growth, analysts say.The stock has risen 506 percent to 1,720 pence in the past 12 months, making it best performer in the apparel retailers segment, according to Bloomberg data. Among all retailers, it’s behind
Chrysler beats Ford in Canada as No. 1 light truckmaker

Jul 18, 2011

Chrysler Group LLC, benefiting from demand for its fuel-efficient crossover sport-utility vehicles, overtook Ford Motor Co. as the biggest seller of light trucks in Canada this year. Sales of light trucks, a category that includes pickups, minivans and SUVs, grew twice as fast as total auto deliveries in Canada in the first half, helped by growth in construction jobs. Chrysler led deliveries last
SKT rolls out education platform

Jul 18, 2011

Company aims for global expansion of service next yearSK Telecom, the country’s top mobile carrier, has introduced an education platform for tablet PCs called “T Smart Learning,” to be rolled out next month.In partnership with Chungdahm Learning, SKT joined hands with 12 education institutes in Korea, including Daesung, YeaRimDang Publishing, Daekyo, Neungyule Education and Visang to create the co
SKT wants Hynix to bolster telecom business

Jul 18, 2011

SK Telecom’s latest bet for a stake in Hynix Semiconductor is not as reckless as the markets would like to believe. The telecom company’s recent decision to bid for the world’s No.2 memory chipmaker was actually a plan devised by parent company SK Group to gain more leverage in the telecom and handset industry via memory technology, industry sources told The Korea Herald on Monday.“SK knows that h
Chanel set to cut prices of key products

Jul 18, 2011

SEOUL, July 18 (Yonhap) -- French fashion company Chanel S.A. will soon cut prices of its key items such as garments and handbags by up to 10 percent after a free trade pact between South Korea and the European Union (EU) took effect early this month, industry sources said Monday.But the French fashion firm has yet to decide the timing of the price cuts, according to the sources. Under the free tr
Strained inter-Korean ties unlikely to last: official

Jul 17, 2011

Inter-Korean relations are unlikely to remain perpetually tense, a high-level government official said Sunday, signaling that the government is willing to continue efforts to improve ties despite recent troubles caused by the North's disclosure of details of secret talks with the South."The door to dialogue remains open," the official told reporters, requesting not to be named due to the sensitivi
Lotte candy, drug units to merge

Jul 17, 2011

Lotte Confectionary Co. announced Sunday it plans to merge with Lotte Pharm Inc. in a bid to foster synergies in their health food business.The Korean snack and sweets maker will remain the largest stakeholder in its pharmaceutical unit as it already holds a 100 percent share. Lotte Aluminum Co. has a controlling stake in Lotte Confectionary with 15.29 percent.The merger, which needs statutory app
Iraq key oil player ‘for next 20 years’

Jul 17, 2011

BAGHDAD (AFP) ― Iraq will be the key player in international oil politics over the next two decades, the country’s top government official for the energy sector said on Saturday.“If we continue along the path we are on, Iraq will over the next two decades be the country that sets oil policy in the world in terms of price, supply and demand,” Deputy Prime Minister Hussein al-Shahristani said at a c
U.S. consumer confidence unexpectedly falls

Jul 17, 2011
Most workers stick to domestic travel for vacation

Jul 17, 2011

Less than 10 percent of salaried Koreans intend to spend their summer vacation abroad this year, a survey said Sunday.The survey of 600 people by the Korea Chamber of Commerce and Industry comes amid soaring inflationary pressure and global economic uncertainties from possible insolvency of the governments of the United States and several European countries.About 9.6 percent of the respondents sai