The Korea Herald

Myeong-dong reborn as mecca for young, trendy

TravelOct 14, 2011

Foreign travelers boost local retail, hotel industry around shopping districtOn a bustling street in Myeong-dong, 21-year-old Japanese college student Yuki Kinoshita was looking for a “gomtang” place to try out the milky-white Korean beef broth.“My map says it is here. But it’s gone,” Kinoshita told
Lee, Obama visit GM plant in Detroit to speak on FTA

PoliticsOct 14, 2011

Korean president stops by Hyundai Mobis factory to encourage workersDETROIT ― President Lee Myung-bak and U.S. President Barack Obama on Friday visited the General Motors plant in Detroit together in a show of “economic alliance,” two days after the U.S. Congress ratified the Korea-U.S. free trade a
Protest targets financial ‘greed’

Social affairsOct 14, 2011

Hundreds of civic activists are expected to express their anger with capitalists, financiers and economic policy makers on Saturday around Seoul.Inspired by “Occupy Wall Street,” a month-long protest against the “greed of capitalists” in the U.S., protestors here will urge financial institutions and
SNU to open Japanese dept.

Social affairsOct 14, 2011

Seoul National University, the nation’s most prestigious higher education institution, will open a Japanese department as early as next year, the school said Friday. According to SNU, the establishment of an East Asian linguistic and civilization faculty passed the dean’s council on Thursday and is
Sung Kim confirmed as U.S. envoy to Korea

Foreign affairsOct 14, 2011

WASHINGTON (Yonhap News) ― The U.S. Senate on Thursday confirmed Sung Kim, a career diplomat, as the new U.S. ambassador to South Korea, more than four months after his nomination, officials here said.The unanimous approval came as South Korea’s President Lee Myung-bak is on a state visit here. The
Turnout may decide Seoul mayoral race

PoliticsOct 14, 2011

Candidates remain neck-and-neck on day two of official campaign The Grand National Party’s candidate for Seoul mayor was leading the polls after three television debates and two days of campaigning, though by a small margin which experts say could easily be reversed on a strong turnout. On the secon
Institutional buying lifts shares 0.67%

Oct 14, 2011

South Korean shares finished 0.67 percent higher Friday as institutional investors including the National Pension Fund snapped up shares despite persisting eurozone worries, analysts said. The local currency edged down against the U.S. dollar.Reversing earlier losses, the benchmark Korea Composite S
Telephone monitoring decreases

Oct 14, 2011

The Korea Communications Commission announced Friday that the total number of interceptions of telephone calls and online messages by government agencies dropped more than 20 percent in the first six months of 2011 compared to last year, but interceptions by military authorities more than tripled.Ac
Government vows war on ‘fake’ gasoline

Oct 14, 2011

The government declared an all-out war on “fake” gasoline on Friday, significantly increasing fines for people selling unauthorized products and giving investigative jurisdiction to government officials.The crackdown starts with changing the commonly used name for such fuel, mostly chemical mixtures
LG Electronics wins tech-related awards

IndustryOct 14, 2011

LG Electronics said Friday it received two different awards for technology standardization and marketing skills.As part of the World Standards Day 2011, the company was granted the presidential award from the Korean Standards Association for contributing to technology standardization, according to L
Bidding for savings banks begins

Oct 14, 2011

Financial authorities Friday began the process of selling six savings banks suspended from business since mid-September due to poor financial health, in the hope of finding buyers by the end of December.State-run Korea Deposit Insurance Corp. made a public notice for the sale of the debt-saddled ban
Booyoung to donate $3m to Habitat

IndustryOct 14, 2011

Booyoung Group said Friday it has signed an agreement to support the United Nations’ human settlements program. Under the deal, the construction-centered Korean corporation will provide $3 million over the next decade to help urban development and habitat improvement in Africa.“With the funds, we wi
Samsung, Apple clash in Seoul court

Social affairsOct 14, 2011

Samsung and Apple locked horns once again over a Samsung patent technology used in two of the world’s best selling smart phones as a third open trial was held at the Seoul Central District Court on Friday. The iPhone maker denied having used Samsung’s patented technology without permission while Sam
Showdown looms between Wall Street protesters and cops

World NewsOct 14, 2011

NEW YORK (AP) ― Officials moved to end Wall Street protesters’ monthlong occupation of a park that spawned similar gatherings across America and is going global, setting up a potential confrontation Friday with police and an uncertain future for a movement that claims to speak for the disillusioned
Hedge fund exec jailed for insider trading

World NewsOct 14, 2011

NEW YORK (AP) ― Raj Rajaratnam, the Sri Lanka-born hedge fund billionaire at the center of the biggest insider-trading case in U.S. history, was sentenced Thursday to 11 years behind bars ― the stiffest punishment ever handed out for the crime.“His crimes and the scope of his crimes reflect a virus