The Korea Herald

Police: 8 shot to death in Ohio, including child

World NewsAug 8, 2011

COPLEY, Ohio (AP) -- A family argument Sunday in Ohio ended in the shooting deaths of eight people in two places, including an 11-year-old, and two more people were wounded, authorities said Sunday.Members of the Akron Police Department talk to an unidentified woman who claimed to be a relativ
Applications open for BFIA Korean classes

Expat LivingAug 8, 2011

Applications are open for the next semester of Korean classes run by the Busan Foundation for International Activities.The course, which uses Yonsei University textbooks, runs from Aug. 16 to Oct. 14.Five levels of tuition are available. Classes are twice a week, with daytime and evening timeslots.
Savings banks to suffer additional losses from sour PF loans

Aug 8, 2011

South Korean savings banks are expected to suffer additional losses of around 3 trillion won ($2.8 billion) from soured project financing (PF) loans, a report showed Monday.The local savings bank industry has to additionally set aside reserves totaling 2.98 trillion won in a bid to cover its bad PF
Foreign direct investment in Seoul more than doubles in first quarter

Aug 8, 2011

Foreign direct investment (FDI) in Seoul rose more than twofold in the first half of this year from the same period last year thanks to an improved business environment in the capital city, officials said Monday.The FDI in Seoul totaled $1.8 billion in the January-June period, up 116 percent from la
Seoul shares open lower

Aug 8, 2011

Korean shares opened down 1.4 percent Monday following last week's market turmoil and the downgrade to the United States' credit rating by Standard & Poor's.The weak start came even after the Group of Seven nations said they were committed to taking coordinated action to ensure liquidity and to supp
S. Korean shares open 1.4% lower

Aug 8, 2011

SEOUL (AFP) -- South Korean shares opened down 1.40 percent Monday following last week's market turmoil and the downgrade to the United States' credit rating by Standard & Poor's.The benchmark KOSPI index was down 27.18 points at 1,916.57 at the open, but it made up ground and had declined 0.5 perce
G7 vows to back stability, growth as nervous markets re-open

World BusinessAug 8, 2011

PARIS (AFP) -- Financial chiefs and central bankers of the G7 nations early Monday pledged to "take all necessary measures to support financial stability and growth" as nervous global markets re-opened."We are committed to taking coordinated action where needed, to ensuring liquidity, and to support
World-class athletes to gather in Daegu for int'l event

Aug 8, 2011

Usain Bolt, Yelena Isinbayeva, Asafa Powell and other world-class athletes will gather in Daegu next month to take part in the International Association of Athletics Federations (IAAF) Championships.About 2,400 athletes from 207 countries will compete at the 13th IAAF Championships, one of the world
Activists say Syrian troops kill at least 52

World NewsAug 8, 2011

BEIRUT (AP) -- Syrian forces intensified their crackdown on an eastern city Sunday as they try to keep the anti-government uprising from escalating during the Muslim holy month of Ramadan. The assault and similar operations in at least two other towns killed at least 52 people, according to hum
Finance leaders urgently discuss market stability

World BusinessAug 7, 2011

TOKYO (AP) -- The world's leading economies on Sunday urgently discussed the stability of financial markets after a historic U.S. credit downgrade rattled investors already worried about European debt crises.Deputies from the Group of 20 advanced and emerging economies talked by telephone Sunda
Typhoon Muifa pounds west coast cities as it nears Seoul

Social affairsAug 7, 2011

Typhoon Muifa pounded South Korea's west coast, leaving at least one dead and two others missing as it proceeded northward to reach the capital of Seoul Monday morning, the meteorological office and the emergency control agency said.As of 6:00 a.m., Muifa, the ninth typhoon of the year spawned in th
Seoul policymakers strive to preempt market volatility

Aug 7, 2011

Korean policymakers were striving Sunday to contain the impact from the historic cut in the U.S.’s sovereign credit rating and the European debt crisis amid growing concerns over the domestic markets’ vulnerability to external uncertainties.Senior officials from the Finance Ministry, the Bank
Retirement of baby boomers looms

Social affairsAug 7, 2011

Iconic generation behind Korea’s growth set to exit workforce unpreparedTo 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
Foreign currency liquidity vital for nation: FSC chief

Aug 7, 2011

Financial Services Commission chairman Kim Seok-dong called for stronger measures to secure foreign exchange reserves to stave off debt woes abroad spilling over into local financial markets.“Inflation doesn’t undermine a nation immediately, but the foreign currency liquidity problem does topple a n
N. Korea, U.S. agree on family mail exchanges

North KoreaAug 7, 2011

North Korea agreed three months ago to allow 10 Korean-Americans to exchange mail with their kin in the communist country, a South Korean Red Cross official said.The U.S. Red Cross and North Korea’s U.N. diplomatic mission agreed in New York in May on the trial mail exchanges through the Red Cross a