The Korea Herald

199 Koreans hold more than W5b in overseas accounts

Oct 3, 2011

A total of 199 private and corporate deposit holders in South Korea each have more than 5 billion won ($4 million) in their overseas financial accounts, data showed Monday.There were 199 cases reported for overseas financial accounts worth more than 5 billion won in June, with the reported amount to
KB chairman joins IIF board of directors

IndustryOct 3, 2011

Euh Yoon-dae, chairman and CEO of KB Financial Group, on Monday was appointed to the board of directors of the Institute of International Finance, the world’s largest industry group of financial institutions.KB said in a statement that Euh, the former head of the Presidential Council on National Bra
BOK won’t change key rate: investment banks

Oct 3, 2011

Foreign investment banks see that the Bank of Korea is unlikely to change the benchmark interest rate by the second quarter of next year. According to the new projection data, Barclays Capital, Citibank and Morgan Stanley projected that the central bank will keep steady the interest rate at 3.25 per
Nations using power of ‘weiplomacy’ in China

World NewsOct 3, 2011

Foreign embassies, diplomats quick to take up Chinese micro-blogging platform Weibo*Asia News Network is the world’sThe world became a smaller and flatter place thanks to the Internet. But with the emergence of Weibo, the micro blog, cyberspace has again become multidimensional, as Weibo has been ch
Climate change behind storms, flooding, drought, Manila says

World NewsOct 3, 2011

Officials have warned Filipinos to brace against the inconvenient truth of devastating storms, flooding and drought unless policies and projects are put in place to mitigate climate change.Undersecretary Graciano Yumul of the Department of Science and Technology (DOST) said that in the next 20 to 50
Wealthy Indonesians start sharing the wealth

World NewsOct 3, 2011

Assitance: A youth spends his time in the middle of the road in Jakarta. Yani Rodyat, vice-chairman of Medco Energi is trying to spread education to Jakarta’s street children by paying the school fees for hundreds of underprivileged children.There are few places in the word where such vast contrasts
Asbestos cancer cases to peak in 2045

Social affairsOct 3, 2011

Korea predicts a surge in number of asbestos exposure victims: expertsThe number of people suffering from malignant mesothelioma caused by exposure to asbestos is expected to peak in 2045, the Ministry of Environment said in a report Sunday. Comparing the trends of asbestos use and patients in Korea
Tigers stop Yankees in 9th to tie series

More sportsOct 3, 2011

NEW YORK (AP) ― Jose Valverde and the Detroit Tigers nearly let this one slip away.Instead, they’re on solid footing with ace Justin Verlander set to start back home at Comerica Park.The Tigers and their excitable closer somehow held off the Yankees’ furious rain-soaked rally in the ninth inning and
Liu Xiaobo’s wife still silenced

World NewsOct 3, 2011

BEIJING (AP) ― In a quiet, leafy neighborhood of Beijing, a woman has been living in enforced isolation in her book-lined, fifth-floor apartment. Her apparent misdeed: being married to a Nobel Peace Prize winner the Chinese government calls a criminal.In the year since jailed democracy campaigner Li
L.A.’s latest art project is 340 tons and rock solid

TheaterOct 3, 2011

LOS ANGELES (AP) ― King Sisyphus, it turns out, had little on the folks at the Los Angeles County Museum of Art.In Greek mythology, Sisyphus was condemned by the gods to push a giant rock up a hill for eternity. In modern-day LA, the city’s largest museum has spent months ― and $5 million to $10 mil
Netizen fined for defaming entertainer online

Social affairsOct 3, 2011

A man was fined for posting false rumors on the Internet and defaming entertainer Lee Kyung-shil, local court officials said Monday.According to the Seoul Southern District Court, the man surnamed Lee, whose name was not disclosed to the media, was fined 2 million won ($1,693) for uploading false ru
Lotte chairman hints at M&A of blue-chip companies

IndustryOct 3, 2011

Lotte Group chairman Shin Dong-bin recently emphasized efforts to turn the current economic crisis into an opportunity, urging executives to look for blue-chip companies for mergers and acquisitions. “This time of economic downturn could be an opportunity. We need to be more active in the M&A of hea
Number of young Korean students abroad rebounds

Social affairsOct 3, 2011

The number of young Korean students being sent to study abroad is back on the rise, apparently buoyed by recently improved economic conditions, said a government report released on Monday.The report by the Education Ministry and the Korean Educational Development Institute showed that in the 2010 ac
27 pianists from 13 countries compete in Louisiana

MusicOct 3, 2011

ALEXANDRIA, Louisiana (AP) -- A chance to perform in St. Petersburg, Russia and at Carnegie Hall is bringing 27 pianists from 13 countries to compete in Alexandria.The Louisiana International Piano Competition is also a chance for central Louisiana residents to meet and hear musicians from around th
Korean banks set for record Q3 profits

Oct 3, 2011

Bigger margins, troubles at savings banks a boon for major banksKorean banks are expected to post a record profit in the third quarter of this year, helped by wider margins as lenders hiked loan rates but lowered deposit rates. Margin in the banking sector refers to the percentage added to a market