The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

Samsung Lions capture third straight Korean Series title

BaseballNov 1, 2013

The Samsung Lions are the champions of South Korean baseball for the third straight year.The Lions defeated the Doosan Bears 7-3 on Friday to capture the Korean Series in seven games, earning their third consecutive Korea Baseball Organization championship.At their home Daegu Stadium, about 300 kilometers southeast of Seoul, the Lions blew the game wide open with a five-run sixth inning, as they became the first club to win the pennant and the Korean Series in three straight years.They are also
Economists cut fourth-quarter U.S. growth forecast on shutdown

World BusinessNov 1, 2013

The U.S. economy will probably expand at a 2 percent annualized rate in the final three months of the year, less than economists projected at the start of the budget impasse that resulted in a 16-day government shutdown.The median projection of 71 economists surveyed by Bloomberg yesterday compares with a 2.4 percent forecast in an Oct. 4-9 survey.Gross domestic product, the sum of all goods and services produced in the nation, will accelerate to a 2.6 percent growth rate in the first three mont
Germany says ready to talk to Snowden but rejects asylum

World NewsNov 1, 2013

BERLIN (AFP) -- The German government said Friday it would like to talk to US intelligence leaker Edward Snowden in Russia but that he did not meet the requirements for asylum.After a meeting between a German lawmaker and Snowden in Moscow in which the former NSA contractor offered to provide insider knowledge on U.S. espionage activities, Interior Minister Hans-Peter Friedrich said Berlin was interested.“If the message is that Mr Snowden wants to give us information, then we would gladly accept
U.N. says nearly 1,000 Iraqis killed in October

World NewsNov 1, 2013

BAGHDAD (AP) -- The United Nations says that 979 Iraqis died in attacks in October, a monthly death toll that is exactly the same as the figure for September.U.N. envoy to Iraq, Nickolay Mladenov, is urging Iraqi political leaders to take bold actions to halt the “current mayhem.”Violence has spiked recently amid political and sectarian tensions, raising fears that Iraq might be heading toward a second round of sectarian strife.The grim report released on Friday by the U.N. mission says that out
IMF still not confident about Korean stocks

Nov 1, 2013

The International Monetary Fund has taken a wait-and-see position over some global investors’ view that Korea’s financial market, including the two major bourses, has become safe to invest in.In its assessment on the Korean economy released on Friday, the Washington, D.C.-based organization said the country “has emerged as a safe haven of sorts in the summer’s market turmoil.”The IMF acknowledged that low inflation and ample foreign exchange reserves have strengthened Korea’s attractiveness to r
[Photo News] French connection

IndustryNov 1, 2013
Korea’s exports surge to new monthly high

Nov 1, 2013

South Korea’s exports surged to a new monthly high last month on growing shipments to the United States and Europe, posting a trade surplus for the 21st consecutive month, the government said Friday.The country’s total outbound shipments came to $50.5 billion last month, up 7.3 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.The previous monthly record was at $48.95 billion posted in July 2011. It also marks the first time the country’s monthly expo
FTC to probe conglomerates’ deals with overseas affiliates

Oct 31, 2013

The antitrust regulator is considering cracking down on irregular deals between conglomerates and their overseas subsidiaries, whereas only domestic units have been subject to probes for intra-group trading.The new potential policy of the Fair Trade Commission was proposed after some lawmakers argued that “big firms’ overseas units have been a regulatory loophole as the authorities focus on the illegal cross-affiliate trading in the domestic market.”During a parliamentary hearing on the FTC, Rep
Shinhan Financial Group poised to choose new chairman

Oct 30, 2013

Shinhan Financial Group has launched the process to select its next chief to succeed incumbent chairman Han Dong-woo, whose three-year term ends in five months.While Han’s tenure expires in March 2014, market insiders predict he will seek a second term, citing his success in resolving woes in the wake of the group’s internal feud among senior executives in late 2010.Shinhan had suffered a management crisis due to allegations surrounding its top three executives, who eventually resigned.While a n
Korean investment banks to debut in financial market

Oct 29, 2013

The Financial Services Commission is set to approve the investment banking businesses of major brokerage firms here to improve the local financial market.Officials at the FSC said Tuesday that the authorities would unveil the list of approved IB-oriented securities firms later this week.According to market insiders, the list may include KDB Daewoo Securities, Woori Investment & Securities, Samsung Securities, Korea Investment & Securities and Hyundai Securities.Each of the five holds equity capi
Samsung, Hyundai dominate corporate profit

Oct 28, 2013

Samsung Electronics, the flagship unit of Samsung Group, and the two automakers of Hyundai Motor Group make up more than a quarter of the combined net profit of about 460,000 companies in the nation.According to the Bank of Korea and financial data provider FnGuide, the three firms ― Samsung Electronics, Hyundai Motor and Kia Motors ― collectively logged 24.8 trillion won ($22.5 billion) last year.The figure takes up 28.6 percent of the total 86.6 trillion won in earnings reaped by 464,425 enter
HSBC Korea named best cash management bank

Oct 28, 2013

HSBC Korea was voted the best domestic cash management bank in South Korea for the fourth consecutive year in U.K.-based magazine Euromoney’s survey on the cash management sector.The bank also won Best Global Cash Management Bank in both the financial and nonfinancial institution categories for the second year running.The recognition is based on a recent poll of more than 24,000 senior finance executives, cash managers and treasurers worldwide.HSBC Korea president Martin Tricaud said that “the a
Foreign firms’ tariff evasion on rise: report

Oct 27, 2013

An opposition lawmaker claimed Sunday that customs authorities have serious difficulty in collecting back taxes from multinational companies manipulating prices of goods for tariff benefits.The Korea Customs Service levied multinational companies 285 billion won ($260 million) in back taxes in 2011 for seeking to evade or enjoy lower tariffs on goods, according to Rep. Lee In-young of the Democratic Party.Citing the KCS data, the main opposition lawmaker said that the authorities have collected
Doosan beats Samsung to take Korean Series opener

BaseballOct 24, 2013

The Doosan Bears defeated the Samsung Lions 7-2 to open the Korean Series here on Thursday, taking a major first step toward the Korea Baseball Organization championship.Visiting Daegu Stadium, the Bears pounded the Lions' pitching for 12 hits, including two solo home runs, in the resounding victory to start the best-of-seven showdown.Shortstop Son Si-heon, making his first postseason start this year, went 3-for-4 with a home run and two RBIs to pace the Bears' offense.The second game will be ba
More Americans than forecast filed jobless claims

World BusinessOct 24, 2013

More Americans than forecast filed applications for unemployment benefits last week as California continued to work through a backlog.Jobless claims decreased by 12,000 to 350,000 in the week ended Oct. 19 from a revised 362,000 in the prior period, a Labor Department report showed today in Washington.The median forecast of 48 economists surveyed by Bloomberg called for a decrease to 340,000. Applications in California remained elevated and analysts weren’t able to determine how many non- federa