The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

Samsung Life, KB may seek alliance to buy ING unit

Mar 11, 2012

Samsung targets Asian markets; KB seeks growth at homeSamsung Life and KB Financial Group may seek to form a strategic alliance if ING Group’s Asia-Pacific unit goes up for sale, market observers said.Analysts have said the two financial companies are not competitors as Samsung and KB target different units ― overseas and local, respectively.ING Group’s project to sell its Asia-Pacific operations coincides with Samsung Life Insurance’s strategies for global expansion.Under the reported instructi
Automakers snazz up small cars to lure wary buyers

TransportMar 11, 2012

The small cars premiering at the Geneva Motor Show last week were not the boxy fuel-savers of yesteryear.European automakers have downsized SUVs and put all the luxury they can into premium subcompacts as they seek to dazzle consumers back into confidence after years of crisis.European manufacturers are facing one of their toughest seasons yet. Unemployment and austerity measures have made consumers in Europe skittish, factories are idle, and yet there is little automakers can do to close plants
Mercedes-Benz reveals design revamp with new A-Class

TransportMar 11, 2012

Mercedes-Benz unveiled a radical redesign of its A-Class vehicles on Tuesday, the first in a series of facelifts for the German luxury automaker’s fleet. The sleek, sporty look of the new A-Class contrasts sharply with its dowdy predecessor, favored by the over-50s since it was launched more than a decade ago. “We’re looking for younger and more female customers,” said Dr Dieter Zetsche, the chief executive officer of Mercedes’ parent company Daimler. The customer reaction so far had been positi
Will FTA boost U.S. car sales here?

TransportMar 11, 2012

GM, Ford, Chrysler seek to attract consumers by lowering price tagsChrysler was the biggest-selling U.S. auto brand in Korea last month excluding Chevrolet of GM Korea. But Chrysler’s sales ranking among all import brands, including the likes of BMW and Mercedes-Benz, was just eighth.Further, its February sales of 301 units included Jeep and Dodge vehicles as well as Chrysler sedans. Ford, including the Lincoln brand, ranked 10th with 230 units while Cadillac of General Motors was 18th with 59 u
Top regulator promises transparency under FTAs

Mar 9, 2012

The chief financial regulator pledged to improve Korea’s supervisory systems to promote a level playing field for local and foreign players.At a forum for foreign financial firms in Seoul, Friday, Financial Supervisory Service Gov. Kwon Hyouk-se stressed the necessity of bolstering regulatory transparency in “the era of free trade pacts.”His promise came during his speech at the 4th annual event, dubbed “FSS Speaks,” on the nation’s regulatory policy directions.“One (policy) is steps we are taki
Banks face heavy sanctions for irregular lending

Mar 8, 2012

FSS chief says it is time for households to cut spendingThe nation’s top financial regulator has vowed stern punitive action against banks engaged in irregular lending practices.Since he took office as chief of the Financial Supervisory Service on March 27, 2011, Gov. Kwon Hyouk-se has taken the initiative in conducting intensive inquiries into major banks for alleged business irregularities.The regulator’s full-fledged probe has been focused on the allegation that banks urged many individual an
FSS chief says social responsibility required of foreign financial firms

Mar 8, 2012

The nation’s chief financial regulator said the foreign investment community needed to have a deeper engagement with charities and causes for their own business interests.“Corporate social responsibility has been a global response exiting the crisis,” Financial Supervisory Service Gov. Kwon Hyouk-se said in a recent interview with The Korea Herald.The FSS expects foreign financial institutions to contribute to the community as much as it expects from local companies, he said.He plans to comment
Hyundai chief stresses creativity

TransportMar 7, 2012

Chairman Chung wins award for ‘2011 Top Manager in the World’Hyundai Motor chairman Chung Mong-koo reiterated that the company should make a breakthrough in Europe with unique strategies.Chung, who is visiting the 82nd Geneva International Motor Show in Switzerland, called for Hyundai’s European corporations to cope with the European crisis with a creative mindset.Chung was quoted by Hyundai executives as saying, “Though the European market is the origin of the global economic slowdown, Hyundai
Professor Yoon named to head KIF

Mar 7, 2012

Prof. Yoon Chang-hyun of University of Seoul has been named chief of the Korea Institute of Finance.The Korea Federation of Banks, the majority shareholder of the state-run KIF, is poised to appoint Yoon to the post in the coming weeks as the incumbent chief Kim Tae-joon will see his term expire this month.The 52-year-old nominee is a professor of Business Administration at University of Seoul and has worked as the secretary of Citizens United for Better Society.He is also known as a conservativ
FSS to punish Samsung Card for massive customer data leak

Mar 7, 2012

The Financial Supervisory Service is set to take disciplinary action against Samsung Card for leaking customer information.The credit card firm’s CEO Choi Chi-hun also faces a regulatory sanction for allegedly negligent internal control.According to the FSS and police, the personal information of about 1.92 million customers of Samsung Card was leaked by a former employee between January 2010 and August 2011.FSS officials say punitive measures against the company and its CEO are inevitable.The r
Mitsubishi, Citroen, Fiat to reenter Korea

TransportMar 6, 2012

Three foreign automakers will soon make inroads into Korea as the nation’s import car market continues to expand.Mitsubishi Motors and Citroen have decided to reenter Korea in March and April, respectively. Fiat is fine-tuning the timing of its advancement.Mitsubishi Motors will resume sales in the local market in mid-March after a year-long hiatus.Its official importer and distributor has been changed to CXC Motors from the former MMSK.CXC Motors is poised to open large showrooms for the Japane
Hyundai, Kia, BMW to provide vehicles for nuclear summit

TransportMar 5, 2012

Hyundai Motor and its affiliate Kia Motors will help support the 2012 Nuclear Security Summit in Seoul, slated for March 26-27.The two companies delivered 262 vehicles, produced for protocol and guard of the global leaders, to the preparation committee for the summit on Monday.The vehicles included the Equus limousine by Hyundai Motor and the Starex van from Kia Motors, which will be used for the figures from more than 50 countries.The automakers will also run a maintenance team of 70 experts fo
Shinhan Card draws most complaints

Mar 5, 2012

Regulators examining credit card companies’ cyber security measuresShinhan Card drew the highest number of complaints from customers last year in the local credit card industry.According to the Credit Finance Association, Shinhan Card was responsible for 447 dispute cases filed with financial regulators in 2011.Shinhan has been capturing more than 20 percent of the credit card market since acquiring LG Card, formerly No. 1 before the 2003 credit card fiasco.Disputes between customers and card is
Hana Financial names top figures

Mar 5, 2012

Hana Financial Group selected the group’s new president, the No. 2 figure in the group, and its flagship Hana Bank’s CEO, the No. 3 figure.The group’s move comes after its ad hoc committee picked incumbent Hana Bank CEO Kim Jung-tai as the new chairman, the No. 1 post, following its takeover of Korea Exchange Bank.Choe Heung-sik, CEO of Hana Institute of Finance, was nominated as a candidate for group president to replace Kim Jong-yeol, who expressed his intention to resign in January.“I will t
Hyundai, Kia cars post record sales in U.S.

TransportMar 2, 2012

Hyundai Motor and Kia Motors saw their February sales in the U.S. market reach an all-time high.Hyundai Motor sold 51,151 units last month in the U.S., up 18 percent from 43,533 units a year earlier. It is a record-high performance for the carmaker’s February sales.Sales of the Sonata and Avante, called the Elantra in the U.S., came to 17,425 and 13,820 units, respectively.Kia Motors, an affiliate of Hyundai Motor, reported 37.3 percent growth with sales of 45,038 units in the world’s biggest au