The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

FSS probes financial firms over sales of retirement pensions

Nov 6, 2012

The Financial Supervisory Service has launched a full-fledged investigation into 58 financial firms for their allegedly irregular sales of retirement pension products.“The 58 firms which sell retirement pensions are composed of commercial banks, insurance companies and brokerage houses,” the FSS said in a statement. “Their overheated competition and irregularities will closely be examined.”As the retirement pension market has swiftly expanded over the past few years, many financial firms are sus
Big 4 grab 66.4% of import car market

IndustryNov 5, 2012

Amid the rapid growth of the import car industry, the sales gap between the top four German brands and other players widened over the past year, according to the October data of a lobby group for foreign automakers.The four major German carmakers ― BMW, Mercedes-Benz, Volkswagen and Audi ― captured 66.4 percent of the local import automobile market last month among 24 members of the Korea Automobile Importers & Distributors Association.The top four brands’ combined market share climbed 5.3 perce
FSC criticized for lax supervision of brokerages

Nov 5, 2012

Financial regulators were under criticism for their apparently negligent supervision of the brokerage industry as evidence of a group of securities firms’ interest rate-fixing was revealed by antitrust regulators.Last Sunday, 20 local securities firms were reprimanded by the Fair Trade Commission with fines amounting to a combined 19.2 billion won ($17.5 million) for colluding to fix rates on some “small-denomination bonds.”The antitrust regulator also filed a complaint with the prosecution agai
BMW narrows Mercedes’ lead in U.S.

TransportNov 4, 2012

BMW’s U.S. sales rose 21 percent in October, narrowing the lead of Daimler AG’s Mercedes-Benz in luxury-auto deliveries this year. Sales for BMW climbed to 26,451 vehicles last month, boosted by a 26 percent gain for its 3-Series. Mercedes yesterday reported a 5.9 percent increase from a year earlier to 23,978, helped by updated versions of the C-Class small sedan. Toyota Motor Corp.’s Lexus rose 9.7 percent to 19,850.The October results trimmed Mercedes’s lead to 2,748 vehicles, from 5,221 at t
VW threatens to end GM’s 8-year China lead

TransportNov 4, 2012

After trailing General Motors Co. in China for eight years, Volkswagen AG edged ahead in the third quarter, putting it one step closer to its goal of becoming the world’s biggest automaker. VW’s deliveries in the country jumped 21 percent last quarter, almost triple GM’s growth, to 704,991 vehicles, according to figures the company reported.That beat the 664,765 that GM reported earlier this month. At stake is supremacy in the world’s biggest auto market, which analysts say will likely exceed th
FTAs boost import vehicle sales: KAMA

TransportNov 4, 2012

Korea’s import car industry’s sales growth is rapidly rising mainly thanks to the nation’s free trade agreements with the United States and the European Union, according to a local car industry lobby group.In its report last week, the Korea Automobile Manufacturers’ Association said that import brands saw their vehicle sales increase by 15.5 percent for the first three quarters of 2012 on a year-on-year basis.Their brisk performance was “on the back of the Korea-EU FTA and the Korea-U.S. FTA,” t
Shares gain 1.07% on U.S., China data

Nov 2, 2012

Korean stocks advanced 1.07 percent Friday, cheered by improved U.S. and Chinese economic indicators, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 20.28 points to finish at 1,918.72. Trading volume was moderate at 434.9 million shares worth 5.46 trillion won ($5 billion) with gainers outpacing losers 518 to 307.“Good economic data in the U.S. and China offset the prolonged eurozone and fiscal cliff risks, though the gain w
Department stores offer wine at discounted prices

IndustryNov 2, 2012

Major department stores will offer a huge discount for wine products in November when the nation’s big three players are scheduled to celebrate the anniversary of their foundation, respectively.The three department stores ― Lotte, Hyundai and Shinsegae ― have launched a fair or event which feature sales at a discount for wine from special vineyards.Lotte, which kicked off a seven-day wine fair on Friday, will provide consumers with premium wine products with a maximum discount of 90 percent.All
Instant coffee makers seek success abroad

IndustryNov 1, 2012

Some instant coffee mix producers are tapping or aiming at the global stage amid heated competition in the local market.Korea’s typical instant coffee product features three-in-one coffee mix sachets containing powdered coffee, powdered cream and sugar for a single serving.Namyang Dairy has initiated the moves abroad, called “coffee reexports,” by recently making inroads into countries such as China, the United States and Australia.Though the company’s current sales target in the overseas market
‘House poor’ become social issue

IndustryOct 31, 2012

The number of so-called “house poor,” or burdened by mortgage and loan debt, has emerged as a social woe amid the protracted slump in the property market.When real estate prices surged between 2005 and 2006, many middle-income earners purchased houses that were out of their budget and have been financially pinched after housing prices plummeted following the 2008 global crisis.The number of “high-risk” house poor, or those with no ability to pay off their mortgage debt in full even if they sell
Nation’s IT giants to hire more overseas Koreans

IndustryOct 31, 2012

The nation’s big enterprises and information technology-oriented venture firms will hold a job fair in Silicon Valley in the United States in November to recruit overseas Koreans.The job fair, slated for Nov. 12-13 in Santa Clara, California, is part of the first premier technology conference organized by the Ministry of Knowledge Economy.Among the estimated 30 sponsors and recruiters are Samsung Electronics, LG Electronics, SK Hynix and Asiana Airlines.Ministry officials said the recruitment ta
Auto imports to equal 10% ...of exports

IndustryOct 30, 2012

The ratio of Korea’s automobile imports to its exports is likely to exceed 10 percent this year, for the first time in 20 years since 1992, a trade data showed.According to the Korea Automobile Manufacturers’ Association, the nation imported vehicles worth $3.46 billion (3.8 trillion won), which is equivalent to 10.8 percent of its vehicle exports worth $32.07 billion, for the first nine months of the year.The ratio last recorded a double-digit figure in 1992 when Korea’s vehicle exports stayed
SK to revamp management system

IndustryOct 30, 2012

SK Group will revamp its decision-making process in a bid to induce voluntary participation and the growth of subsidiaries, company officials said.The plan was unveiled by group chairman Chey Tae-won, who said during the 2012 CEO seminar that the currently “vertical” decision-making process would be shifted to a “horizontal” one.“We attained a surplus of all affiliates in 2005 and leaped again in 2007 by changing the group into a holding firm,” Chey told some 30 CEOs from each business unit.He s
Dongbu offers tailored financial planning

IndustryOct 30, 2012

Dongbu Financial Network is a total brand which operates six subsidiaries ― Dongbu Insurance, Dongbu Life Insurance, Dongbu Securities, Dongbu Asset Management, Dongbu Capital and Dongbu Savings Bank.We are committed to constructing an overall image by making advertisements since 2003. We are in the stage of expanding the image we have gained from past efforts and combining it with Dongbu Group’s concept.Dongbu has been delivering the message of “individualized financial planning” for the past d
Your No. 1 creative partner in technology

IndustryOct 30, 2012

LS Cable& System has a management philosophy of creating harmony with customers and is following a new vision to become “Your No.1 Creative Partner.”We are on the way to becoming a leading provider of customer specific solutions. LS Cable&System is a company where its employees can achieve their dreams.All employees share in the vision of creating a world-class company that can be the No.1 creative partner for customers.The state-of-the-art technologies of LS Cable&System meet the needs of consu