The Korea Herald

Uncertainty still high over Lone Star-Hana deal on KEB

Oct 7, 2011

The Seoul High Court’s Thursday ruling that the ex-head of Lone Star Korea was guilty of manipulating stock prices cleared legal issues on the fund’s deal to sell its Korea Exchange Bank to Hana Financial Group. But uncertainty still lingers in the financial market as the U.S. buyout fund has yet to
Gadhafi urges resistance to Libya’s new leaders

World NewsOct 7, 2011

TRIPOLI (AP) ― Moammar Gadhafi called on Libyans to take to the streets and wage a campaign of civil disobedience against the country’s new leaders Thursday ― the first word from the fugitive leader in just over two weeks.Gadhafi said the National Transitional Council, which has assumed leadership o
Wall Street protesters fed up with both parties

World NewsOct 7, 2011

Obama acknowledges economic insecurities fueling three-week demonstrationsNEW YORK (AP) ― Their chief target is Wall Street, but many of the demonstrators in New York and across the U.S. also are thoroughly disgusted with Washington, blaming politicians of both major parties for policies they say pr
Moody’s downgrades a dozen U.K. banks‘

World BusinessOct 7, 2011

LONDON (AP) -- Moody’s Investors Service has downgraded the debt ratings of a dozen British banks because of doubts over the strength of the government’s support.Moody’s said Friday that the downgrades include a two-notch downgrade to “A2” for government-controlled Royal Bank of Scotland, and a one-
BOE mulls extra stimulus measures

World BusinessOct 7, 2011

LONDON (AP) ― The Bank of England surprised markets Thursday by sanctioning another 75 billion pounds ($116 billion) injection into a British economy that’s suffering from the shockwaves of Europe’s debt crisis and the British government’s austerity program.The Bank’s rate-setting Monetary Policy Co
[Editorial] Brace for the worst

EditorialOct 7, 2011

The nation’s foreign exchange reserves fell by a margin of $8.8 billion to $303.3 billion between the end of August and the end of September, the largest drop since November 2008. The decline, government officials say, resulted mainly from the weakening value of assets held in euros and pounds.There
[Editorial] Post-court ruling action

EditorialOct 7, 2011

With Lone Star Funds found guilty of stock-price manipulation, the Financial Services Commission is set to take post-ruling measures, including ordering the Texas-based private equity firm to dispose of the stake it holds in Korea Exchange Bank in excess of a 10 percent stake.In a retrial ordered by
[William Pesek] Sex gap isn’t just stupid, it squanders billions

ViewpointsOct 7, 2011

Paul Hogan’s reptile-wrestling tough guy from the 1986 movie “Crocodile Dundee” typified Australia’s reputation for “mateship,” a creed of male friendship that often excludes women. A quarter of a century on, it’s costing the country billions. Don’t take my word for it ― take the prime minister’s. “
[David Ignatius] Drone strategies against al-Qaida

ViewpointsOct 7, 2011

WASHINGTON ― Here’s the trickiest counterterrorism puzzle for U.S. policymakers: How do you stop al-Qaida from attacking the American homeland, without getting bogged down in protracted wars against insurgents? One answer would be to establish deterrence in the long war against Islamic extremis
Digitized textbooks key to educational future

ViewpointsOct 7, 2011

Change does not always come easy. It often comes with the sacrifice of people whose livelihoods depend on the old way of things and against the influence of the powerful who are heavily invested in keeping the status-quo. However, sometimes change is not an option but rather a challenge a nation sho
Find common ground with Okinawa on Futenma

ViewpointsOct 7, 2011

The issue of relocating the U.S. Marine Corps’ Futenma Air Station in Okinawa Prefecture cannot be delayed any further.How can we avoid a situation in which the air station will remain where it is? The central government must talk with the Okinawa prefectural government earnestly and search for comm
[Andrew Sheng] European debt crisis: IMF as enforcer of last resort

ViewpointsOct 7, 2011

Travelling in Europe before the IMF Annual Meetings in Washington D.C., there was an air of worsening crisis. A series of bad news fed the fear factor. Shortly after the Swiss National Bank intervened in the Swiss franc, a UBS rogue trader was charged with losing 2.3 billion euros in unauthorized tr
Korea’s first ‘Slow City’ in limbo

TravelOct 7, 2011

Some grow impatient for quick progress in go-slow JeungdoJEUNGDO ― On this small island off the shore of Sinan County, South Jeolla Province, postmen don’t bother reading the addresses written on the envelopes. For them, the names are more than enough. “Everyone knows everyone here,” says a resident
Calendar

TheaterOct 7, 2011

Exhibitions"Swedish Contemporary Craft Art": Korea Foundation Cultural Center Gallery in Suha-dong, central Seoul, presents Swedish contemporary crafts which have recently been drawing attention at world design fairs. It showcases craftworks by 17 Swedish artists including Per B. Sundberg, Ulla Fors
Box Office

FilmOct 7, 2011

Sleeping Beauty (Australia) Opening Oct. 20Thriller. Directed by Julia Leigh. Lucy (Emily Browining), an attractive university student, takes many part-time jobs to pay her expensive tuition and rent. While working as a server for a sex-themed party hosted by high-earning figures in town, Lucy is as