Competition heats up for tanker procurement deal

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[Graphic News] Household income, spending grow 3% on-year in Q3

Household income in South Korea grew 3 percent during the third quarter from the same period last year as a hike in employment led to more earnings, a government report said Friday. When adjusted for ...

Updated : 2014.11.23 21:35

Tax agency launches probe into medicine rebates

Major South Korean pharmaceutical companies may soon face a heavy penalty, with the Seoul Regional Tax Office investigating into charges of their tax evasion using illegal sales practices, according to industry sources. Seoul’s tax probe came after the National Tax Service found out irreg...

Updated : 2014.11.23 21:13

One-third of fisheries imports coming from China

One-third of South Korea’s fisheries imports up to September this year were from China, a study said Sunday, adding the figure is expected to further increase when a bilateral trade deal takes effect.The tally by the Korea Maritime Institute showed Korea imported some 959,000 tons of fish...

Updated : 2014.11.23 21:13

[Herald Interview] Korean rich should pay more tax: ADB

An economist from the Asia Development Bank urged Korea to consider levying more taxes on the rich to create a more balanced wealth distribution. “Korea, which was considered a success story in gener...

Updated : 2014.11.23 21:13

Samsung loses market share in mobile phones, TVs

Samsung Electronics’ global presence in mobile phones and high-end TVs declined in the third quarter while its market share in DRAMs and displays rose, industry data showed Sunday.Analysis of quarterly reports released by the tech company showed Samsung’s market share in the IT mobile se...

Updated : 2014.11.23 21:13

[Herald Interview] Finnair to halve carbon emissions by 2050

Finnair, the flagship carrier of Finland, on Thursday said it will go carbon neutral by 2020 and halve its carbon emissions by 2050.In an aggressive attempt to make its operations greener, the company...

Updated : 2014.11.23 21:12

S. Korean car market to grow 2% in 2015

South Korea’s automobile market will grow 2 percent on-year to record-high sales of 1.65 million units in 2015, a report by the Korea Automotive Research Institute showed Sunday.The research arm of Hyundai Motor Group said next year’s car sales will surpass the 1.64 million cars sold in ...

Updated : 2014.11.23 21:12

Banks’ overseas earnings jump 32.1% in H1

South Korean banks saw their combined net profit from overseas operations jump 32.1 percent in the first six months of the year from a year earlier due mainly to a drop in bad debt expenses and a rise in interest income, the financial watchdog said Sunday.Earnings by 156 overseas units and...

Updated : 2014.11.23 21:11

Seoul stocks likely to creep up on signs of global economic recovery

South Korean stocks are predicted to pull off modest gains this week as the global economy, led by the United States, may grow steadily at least until early 2015, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,964.84 last Friday, up 1.01 percent, or 19...

Updated : 2014.11.23 21:11

At BMW, sustainability takes front seat

SPARTANBURG, South Carolina ― “Sustainability” and “going green” are buzzwords that get overused, but a growing number of companies are discovering that looking at their operations through a gree...

Updated : 2014.11.23 21:10

Ford says aluminum pickup’s fuel economy will rise 29%

Ford Motor Co. said its aluminum-bodied F-150 pickup will get as much as 29 percent better fuel economy than its mostly steel predecessor as the automaker gambles with a new design for its top-selling...

Updated : 2014.11.23 21:08

VW to spend $106 billion chasing Toyota for sales lead

Volkswagen AG will keep pouring money into new vehicles, technology and factories as it chases Toyota Motor Corp. for the lead as world’s largest automaker.VW will invest 85.6 billion euros ($106 billion) over the next five years, Europe’s biggest manufacturer of cars, vans and heavy tru...

Updated : 2014.11.23 21:08

[Herald Interview] Kia Motors pins hopes on luxury sedan sales

LOS ANGELES ― Kia Motors’ U.S. sales chief Wednesday expressed confidence in selling the carmaker’s first luxury sedan, the K900, despite its lukewarm sales over the past year since its debut. “Th...

Updated : 2014.11.23 21:08

S. Korean banks' overseas earnings jump 32.1 pct in H1

South Korean banks saw their combined net profit from overseas operations jump 32.1 percent in the first six months of the year from a year earlier due mainly to a drop in bad debt expenses and a rise in interest income, the financial watchdog said Sunday.Earnings by 156 overseas units and...

Updated : 2014.11.23 15:42

No. of S. Korean patents increases, but quality declines: report

The number of South Korean patents has risen sharply in the past four years, but the overall quality of the patents has declined, a government report showed Sunday.According to the Ministry of Science, ICT and Future Planning and the Korea Institute of S&T Evaluation and Planning (KISTEP),...

Updated : 2014.11.23 15:39