The Korea Herald

Dutchman returns home after detention in N. Korea: media report

North KoreaAug 15, 2011

A Dutch stamp collector, who was reported missing during a trip to North Korea last month, has returned home, saying he had been detained there on charges of anti-state activities, a Dutch media reported Monday.Willem van der Bijl entered North Korea on July 17 on a trip to buy stamps and propaganda
Rallies mark Liberation Day

Social affairsAug 15, 2011

Groups campaign against FTA, high tuition fees, Japan’s Dokdo claimVarious political and civic groups held rallies across Seoul on Monday, as the country marked the 66th anniversary of independence from Japan. The groups, many of which were separated along ideological lines, sought to take advantage
Streetwise Korea drops Japanese address legacy

Social affairsAug 15, 2011

After decades of confusion, Korea has ditched its traditional address system and adopted one based on named streets and consecutively-numbered buildings.But many residents are less than happy, saying a cultural legacy has been abandoned in the name of logic.From July 29 all the country’s 5.68 millio
Stark contrasts of post-retirement life

Social affairsAug 15, 2011

Gap between rich and poor underscores need for effective supportTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following is the seventh
More SMEs warm to shared growth

IndustryAug 15, 2011

The number of small and medium sized enterprises positively rating the government-led shared growth drive has almost doubled since the introduction of a comprehensive plan last year, the Ministry of Knowledge Economy said Monday.The government implemented a comprehensive plan for supporting shared g
LGE ships record amount of smartphones

IndustryAug 15, 2011

LG Electronics has shipped a record amount of smartphones in the second quarter of this year to step closer to its goal of rejoining the ranks of top-tier phone makers, sources said on Monday. The world’s third-largest handset maker showed a 590 percent increase in its shipment of smartphones in the
Conglomerates’ market cap slips near 20%

Aug 15, 2011

The sharp decline triggers concerns of revisit of 2008 financial crisisThe nation’s top 10 conglomerates’ market capitalization declined significantly, by about 130.46 trillion won ($120.59 billion) in the aftermath of the latest stock market volatility.The amount, tallied as of Aug.12, was roughly
Korea, China may begin FTA talks to boost exports

Aug 15, 2011

South Korea and China may start talks on a free trade agreement to increase the export of goods and services between the two countries, South Korean Trade Minister Kim Jong-hoon said. “This can be a win-win,” Kim said Aug. 13 in Manado, Indonesia, where he attended a meeting of Association of Southe
Woori privatization hits further snag

Aug 15, 2011

The process of privatizing Woori Financial Group may once again be stalled with Vogo Fund hinting that it will not take part in the preliminary bids for the financial group.The Korea Deposit Insurance Corp. currently holds 56.97 percent of Woori Financial Group. The state-run firm plans to sell more
Debt crisis may rekindle ‘currency war’

Aug 15, 2011

Skepticism over G20 pledge to refrain from manipulation is growingThe latest fiscal woes in Europe and the U.S. are expected to invite wider skepticism on the efficacy of the Group of 20 meetings despite pledges from the G20 members for coordinating their efforts to weather global economic difficult
When the ghosts see red

World NewsAug 15, 2011

It’s Hungry Ghosts or Phor Thor festival now. The Chinese equivalent of Halloween, the festival is still very much alive in predominantly Chinese areas like Penang, and believers are now busy appeasing the spirits through ritual food offerings, burning of joss paper, and stage shows.According to Tao
Hurdles in China’s race for the future

World NewsAug 15, 2011

China is watching nervously as the United States and Europe scramble to deal with their debt crises, fully conscious that events on both sides wwwof the Atlantic play an important role in the country’s own economic prospects.There is little doubt that there are concerns in China about potential knoc
Central bank action eases Europe’s crisis, for now

World BusinessAug 15, 2011

FRANKFURT, Germany (AP) ― The European Central Bank pulled Italy and Spain back from immediate financial disaster on Monday, driving down the countries’ dangerously high interest rates by buying up billions of euros worth of their bonds on the open market.But the rescue mission does not address the
[Joel Brinkley] Settlements keep Mideast unsettled

ViewpointsAug 15, 2011

GUSH ETZION, West Bank ― Shaul Goldstein knows that most everyone on earth dislikes him and his kind. For some it’s visceral hatred. For others he represents the largest obstacle to solving a problem everyone everywhere wants resolved.“We are the enemy of the world,” he volunteered without any promp
[J. William Leonard] When national secrecy gets out of hand

ViewpointsAug 15, 2011

Every 6-year-old knows what a secret is. But apparently our nation’s national security establishment does not.Consider this strange case from earlier this year. On June 8, the National Security Agency, a top-secret government spy agency, heralded the “declassification” of a 200-year-old publication,