The Korea Herald

HMA posts record sales amid recovering auto market

Jan 5, 2011

WASHINGTON (Yonhap) -- South Korea's Hyundai Motor Co. notched record sales in the United States last year amid a surging auto market in the world's biggest economy after the worst recession in decades.Hyundai Motor America (HMA) sold 538,228 vehicles in 2010, up 24 percent from a year earlier and an all-time sales and market share record, HMA said in a statement.Hyundai's affiliate Kia Motor Co.
Samsung to invest a record 43 tln won in 2011

Jan 5, 2011

Samsung Group, South Korea's top family-owned conglomerate, said Wednesday that it will spend a record 43 trillion won (US$38.3 billion) in capital expenditures this year to cement its market dominance and speed up a search for new growth engines.The figure represents an 18 percent increase from the 36.5 trillion won invested in new plants and equipment last year, according to the group. (Yonhap N
Daewoo signs $30m order for CNG buses

Jan 4, 2011

Daewoo International Corp., a Korean trading firm, said Tuesday that it has signed a $30 million deal to supply buses powered by compressed natural gas to Bangladesh.Under the deal with the Bangladesh Road Transport Corporation, Daewoo International will ship 255 CNG buses and necessary spare parts by July.The deal was partly financed by Korea’s Economic Development Cooperation Fund, the trading c
TV shareholder eligibility questioned

Jan 4, 2011

Eulji Hospital’s participation in Yonhap consortium accused of violating lawThe eligibility of a shareholder in the recently licensed Yonhap News TV has emerged as a matter in dispute.Local news media has raised the possibility that the Eulji General Hospital may have violated laws to join the tentatively named consortium led by the Yonhap news agency to get a news television license. The hospital
Showdown between Naver, eBay begins

Jan 4, 2011

eBay’s removal of database from Naver’s shopping section intensifies competitionEBay Inc., the world’s largest online marketplace operator, is seeking to remove its database from the shopping section of Korea’s top portal site Naver, amid an intensifying rivalry over the nation’s rapidly expanding online shopping market.EBay, which currently owns the biggest e-commerce websites Auction and Gmarket
Kia’s market share exceeds 30%

Jan 4, 2011

Kia Motors Corp.’s domestic market share exceeded 30 percent in 2010 for the first time in 15 years.According to industry data, Kia’s domestic sales in 2010 increased by 17.4 percent from the previous year to come in at about 485,000 vehicles, and pushing up the carmaker’s market share by 3.6 percentage points to 33.2 percent. While Kia held more than a 30 percent market share in the early 1990s,
Toyota aims for Prius to become top-selling U.S. vehicle by 2020

Jan 4, 2011

Toyota Motor Corp., the world’s largest maker of gasoline-electric autos, expects the Prius hybrid and related models bearing the same name to become its top-selling U.S. vehicle line by the end of the decade. “We will end the decade with Prius being the number one nameplate in the industry,” Bob Carter, Toyota’s group vice president for U.S. sales, said in a call with analysts Monday. The Camry,
Tycoons outline New Year plans

Jan 4, 2011

Samsung chairman pledges investment, mutual growthSamsung Electronics chairman Lee Kun-hee reiterated his commitment to aggressive investment and mutual growth with suppliers in his New Year address Monday. Lee Kun-heeIn a speech at a ceremony with about 1,200 executives in Seoul, Lee emphasized the importance of future growth engine businesses. “Ten years from now will be the challenge per
Samsung's 2011 investment likely to top 30 tln won

Jan 4, 2011

Samsung Electronics Co., the world's top computer memory maker, will likely spend more than 30 trillion won ($26.67 billion) in investment this year, industry sources said Tuesday. The forecast came a day after company chairman Lee Kun-hee said that the company's investment for this year will be larger and bigger than last year's. The company earmarked 26 trillion won(US$23 billion) for investm
Double investment ban victimizes TV applicant

Jan 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

Jan 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

Jan 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
Hyundai Heavy gives 5 billion won to charity

Jan 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

Jan 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

Jan 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