The Korea Herald

Samsung named No. 3 most reputable firm in U.S.

South Korea's No. 1 tech firm Samsung Electronics Co. was named the third-most reputable company in the United States, an industry tracker said Wednesday, while its top rival Apple Inc. remained out of the top 100.According to research conducted by U.S.-based Reputation Institute, the South Korean tech giant came in behind Amazon.com Inc. and Hallmark Cards Inc. in terms of reputation in the country. Samsung Group headquarters in Seoul (Yonhap)Foodstuffs maker Kellogg Company, Japanese tech gian

Industry March 30, 2016

Samsung named No. 3 most reputable firm in U.S.

China to end state corn stockpiling amid glut: Xinhua

China will end its state corn stockpiling program this year, replacing it with other subsidies, amid surging reserves in the world’s second-biggest grower, the official Xinhua News Agency reported.The government will encourage state and private firms to buy corn at market prices and offer credit support to farmers, Xinhua reported late Monday, citing a press briefing by the National Development and Reform Commission. It will also promote changes in crop cultivation and move to reduce existing st

World Business March 30, 2016

Japan factory output falls in February at worst pace since 2011

Japan's factory output plummeted in February at its sharpest pace since the aftermath of the 2011 earthquake and tsunami disaster, government data showed Wednesday, the latest setback to efforts to rejuvenate the world's third-largest economy.Prime Minister Shinzo Abe has been trying for more than three years to pull Japan out of years of deflation, stagnant wages and weak consumer spending.Unorthodox measures including a massive bond-buying programme by the Bank of Japan have brought the yen do

World Business March 30, 2016

Brexit will hurt world economy: US Treasury chief

If Britain exits the European Union it will have a negative impact on the British, European and world economies, US Treasury Secretary Jacob Lew warned Tuesday.Britons are set to vote in a crucial referendum on June 23 to decide whether to back a so-called Brexit -- or exit from the European Union.The consequences of a Brexit -- in terms of the flow of trade and economic relationships -- would have far-reaching repercussions, Lew told Charlie Rose on public television PBS."I don't think it's goo

World Business March 30, 2016

Samsung to post better-than-expected earnings for Q1: analysts

Global smartphone giant Samsung Electronics Co. is anticipated to post better-than-expected earnings for the first quarter following the better-than-expected performance of the Galaxy S7 series, industry analysts forecast Wednesday.South Korean analysts and industry watchers expect the first-quarter operating profit of the tech giant to reach 6 trillion won (US$5.14 billion), in line with 5.98 trillion won posted a year earlier. Samsung Electronics headquarters in Seoul (Yonhap)Analysts earlier

Technology March 30, 2016

Samsung to post better-than-expected earnings for Q1: analysts

China has enough tools to keep economy stable: Li

China has enough policy tools to keep the economy stable despite “deep rooted” structural problems and downward pressure, Premier Li Keqiang said on Thursday, according to a report by Reuters. Speaking at an annual forum in Boao on the southern Chinese island of Hainan, Li said high economic growth rates are not sustainable, so the government will pay more attention to the quality and efficiency of economic growth.The comments echoed previous statements by policymakers who are grappling with the

Industry March 24, 2016

China has enough tools to keep economy stable: Li

Dollar strengthens against major peers on Fed talk

The dollar strengthened against its major peers on Thursday as fresh signs emerged that the US Federal Reserve could raise key interest rates as early as next month.Recent statements by several Fed members have boosted expectations the bank may start to take a more bullish approach than signalled last week, when it held interest rates steady."You get another strong jobs report, it looks like labour markets are improving, you could probably make a case for moving in April," said James Bullard, pr

World Business March 24, 2016

Thailand calls for Korea's participation in infrastructure projects

The Thai prime minister has expressed hope that South Korean investors will participate in massive infrastructure projects in Southeast Asia's second-largest economy as he vowed to make efforts to address their concerns, South Korea's presidential office said Tuesday.Thai Prime Minister Prayuth Chan-ocha made the comments in a message conveyed to South Korean President Park Geun-hye through Deputy Prime Minister Somkid Jatusripitak, Cheong Wa Dae said.Thai Prime Minister Prayuth Chan-ocha (Bloom

Business March 23, 2016

Thailand calls for Korea's participation in infrastructure projects

Korea's terms of trade improve in Febuary on falling import prices

South Korea's terms of trade improved from a year earlier in February as import prices dropped at a faster clip than export prices, central bank data showed Wednesday.The terms of trade index for products came to 103.54 last month, up 3.4 percent from the same month last year, according to preliminary data from the Bank of Korea (BOK).The February reading also marks a 2.4 percent increase from a revised 101.12 in the previous month.The index measures the amount of imports a country can buy for e

Business March 23, 2016

Korea's terms of trade improve in Febuary on falling import prices

Korea boosts partnership with China for VR field

South Korea said Monday it will strengthen cooperation with China for the development and marketing of virtual reality gear and related products, to take a lead in the burgeoning but promising sector.The Ministry of Science, ICT and Future Planning plans to organize a "South Korea-China VR business day" event in Shanghai on Tuesday, setting the stage for more than 60 firms from neighboring countries to explore partnerships in the rapidly growing industry.They include South Korea's SKONEC Enterta

Industry March 21, 2016

Korea boosts partnership with China for VR field

Growth-focused China signals it hasn’t forgotten leverage

Chinese policy makers underscored their concern about a surge in leverage in the world’s second-largest economy, days after the conclusion of a gathering of the national legislature that showed their top priority is securing at least 6.5 percent annual growth for years to come.The comments from People’s Bank of China Governor Zhou Xiaochuan and Vice Premier Zhang Gaoli suggest China’s leaders are trying to avoid a repeat of what happened under their predecessors, when unbridled stimulus created

World Business March 21, 2016

Korea ranks world's 6th most financially advanced market

South Korea ranked as the world's sixth most financially advanced country among 183 countries, a survey showed on Thursday.Korea's financial institutions earned the sixth-highest score of 0.854 in financial advancement, following Switzerland with 0.951, Australia with 0.890, Great Britain at 0.882, the United States' 0.877 and Spain's 0.860, according to the survey conducted by the International Monetary Fund (IMF).The results were based on an analysis of three factors in the subjected countries

March 17, 2016

Korea ranks world's 6th most financially advanced market

Fed now foresees fewer interest rate increases during 2016

WASHINGTON (AP) _ The Federal Reserve is keeping a key interest rate unchanged in light of global pressures that risk slowing the U.S. economy. As a result, Fed officials expect to raise rates more gradually this year than they had envisioned in December. The officials now foresee two, rather than four, modest increases in their benchmark short-term rate during 2016. The Fed said Wednesday that the economy has continued to grow moderately but that the global economy and financial markets still

March 17, 2016

Fed now foresees fewer interest rate increases during 2016

Korean banks, brokerages adopt robo advisers

South Korean banks and brokerages have launched robo-advisory services to deliver consistent returns to investors at slimmer fees, the companies said Thursday, allowing artificial intelligence to encroach upon asset management handled by human beings. In the past few years, robo advisers have emerged globally as an alternative to human financial advisers who are active but often make costly investment mistakes, according to industry people.Korea has recently joined the growing trend to take adva

March 14, 2016

Korea's home transactions plunge in February

South Korea's home sales plunged 24.9 percent last month from a year earlier as the local property market has shown some signs of a slowdown, government data showed Sunday.The number of home transactions reached 59,265 in February compared with a record 78,864 tallied a year ago, according to data compiled by the Ministry of Land, Infrastructure and Transport.It also marked a 5 percent drop from the previous month's 62,365 and a 12.2 percent fall from a five-year average of 68,000.February's sha

March 14, 2016

Korea's home transactions plunge in February

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