The Korea Herald

Korea’s external debt hits fresh high of $398 billion

Aug 23, 2011

Korea’s external debt hit a fresh high of $398 billion as of the end of June on steady inflow of foreign capital on bonds, the Bank of Korea said Tuesday.The growth of short-term foreign debt, considered more volatile to external shocks, grew $1.3 billion to $149.7 billion in the three months. Overs
S. Korean workers return from N.K. mountain resort

North KoreaAug 23, 2011

Workers sent by South Korea to Mount Geumgang Resort in North Korea have returned to the South, Seoul said Tuesday, a day after Pyongyang demanded they leave its territory.A total of 16 people, including two Chinese nationals, crossed the border back to South Korea around 11:30 a.m., leaving no more
Kim expected to meet Medvedev on Wednesday

North KoreaAug 23, 2011

Kim Jong-il arrived in an eastern Siberian city for talks with Russian President Dmitry Medvedev, reports said Tuesday, as the leader of impoverished North Korea was expected to discuss a natural gas pipeline deal with its Cold War ally. Pyongyang’s reclusive leader is expected to hold the summit ne
Russia seeks N.K. guarantee on gas pipe

Foreign affairsAug 23, 2011

Envoy: First economic multilateral deal with Pyongyang could benefit allNorth Korea’s reclusive leader Kim Jong-il is visiting Russia this week for the first time since 2002 hoping to score political, economic and diplomatic support for several key projects. On the Russian front, the conditions were
Insect warning issued after rainy spell

Social affairsAug 23, 2011

Seoul City government warned Tuesday that more bees and wasps will emerge in the city from late August to September and asked citizens to be cautious during outdoor activities. During the period, the number of bees and wasps will increase from 600 to 3,000 in a single hive and will tend to be more a
‘366 minors registered for work as entertainers’

Social affairsAug 23, 2011

A total of 366 elementary, middle and high school students are working as entertainers here, a governmental report showed Tuesday. However, the number is estimated to be higher as entertainers or celebrities are among the most admired occupations among youths. According to the Ministry of Education,
Busan to host international AIDS forum

HealthAug 23, 2011

4,000 experts from 70 countries to attend 10th Asia-Pacific AIDS CongressA major international conference on AIDS kicks off its five-day run on Friday at BEXCO in the southern port city of Busan, the local organizing committee said Tuesday. The 10th International Conference on AIDS in Asia and the P
Defense ministry requests revision of history textbooks

DefenseAug 23, 2011

The Defense Ministry has requested that the Education Ministry revise the criteria for high-school modern Korean history textbooks to strengthen students’ security awareness, officials said Tuesday.In a formal request to the Education Ministry on Aug. 12, it expressed concern that some current textb
Polarization at breaking point

Social affairsAug 23, 2011

Experts say widening gap threatens social stability, sustained economic growthA 51-year-old man was found hanging in his rented room in a Seoul multi-family house last week, leaving a note in which he said, “(I’m) too lonely and tired.” The man, surnamed Shin, had lived from hand to mouth as a day w
With sense of crisis, Korea braces for software war

IndustryAug 23, 2011

Korea’s information technology industry is facing crisis after enjoying a top spot for about 20 years with the government only stressing hardware and thinking less of software.Following recent mergers of global firms, such as Google’s acquisition of Motorola and Hewlett-Packard’s takeover of Autonom
Samsung’s Lee stresses role of female executives

IndustryAug 23, 2011

Samsung Electronics chairman Lee Kun-hee on Tuesday said women must be encouraged to become corporate CEOs when he lunched with a handful of the group’s female executives.“Women whose careers end before having a chance to become a CEO may not have fully exerted their potential,” Lee was quoted as sa
Top 4 firms lose big in bearish market

IndustryAug 23, 2011

Companies with greater global exposure lost almost W130trThe stock value of local conglomerates took a nosedive this month, with the total market capitalization of the nation’s top four companies shedding 128.8 trillion won ($11.8 billion).The decline over the past 15 days was an average 22.8 percen
Sales of Samsung 3-D TVs plunge in China

IndustryAug 23, 2011

South Korean electronics behemoth Samsung Electronics Co. is suffering a decline in sales of its 3-D TVs in China due to increased competition, an industry report showed Tuesday.According to the report by market research firm DisplaySearch, Samsung Electronics accounted for 9.3 percent of the 3-D TV
Exports to Libya plummet 88 percent

Aug 23, 2011

Korea’s exports to Libya dove nearly 88 percent between January and July in the wake of a civil war that has pummeled the North African economy, a report showed Tuesday.According to the Korea International Trade Association, Korean exporters shipped a mere $119 million worth of goods to Libya in the
‘Jeonse’ deposits exceed 50% of home prices

IndustryAug 23, 2011

“Jeonse” prices soared in the metropolitan area to exceed half the value of new homes last month, research found Tuesday. The lump sum deposit that a tenant has to pay to the landlord reached 50.1 percent of home prices last month, the highest since 2006, research firm Real Today said. A passe