The Korea Herald

S. Korea's foreign reserves hit new high in July

Aug 2, 2011

South Korea's foreign exchange reserves climbed to a fresh high in July as a stronger British pound and Japanese yen boosted the dollar conversion value, the central bank said Tuesday.The country's foreign reserves reached US$311.03 billion as of the end of July, up $6.55 billion from June, accordin
U.S. still cautious about next steps on N. Korea

North KoreaAug 2, 2011

After "good and constructive" talks with North Korea last week, the United States on Monday maintained a guarded stance on next steps.U.S. officials neither confirmed nor denied Pyongyang's announcement that the two sides agreed to further dialogue when North Korean Vice Foreign Minister Kim Kye-gwa
No credit impact on Korea's securities from floods: Moody's

Aug 2, 2011

Moody's Investors Service said Monday that the recent deadly floods and landslides in South Korea will have no credit-ratings impact on the country's residential mortgage-backed security (RMBS) and asset-backed security (ABS).Last week's downpour-caused floods and landslides in Seoul, nearby Gyeongg
Record high radiation at crippled Japan nuke plant

InternationalAug 1, 2011

TOKYO (AFP) -- Tokyo Electric Power Co. (TEPCO) said Monday it had monitored record high radiation at the Fukushima Daiichi nuclear power plant crippled by the March 11 quake and tsunami.TEPCO said radiation levels reached at least 10 sieverts per hour near the debris left between the number on
Japanese lawmakers leave after entry ban

NationalAug 1, 2011

Criticism high over Tokyo’s repeated territorial claim　　Three Japanese lawmakers returned to their country after spending hours at a South Korean airport on Monday, after Seoul stopped them from visiting an eastern island in protest of Tokyo’s repeated territorial claims. Defying South Korea’s warni
Readers’ VOICE

Aug 1, 2011

On gambling ...Gambling should be legalized in Korea just like in other nations. First of all, gambling businesses stimulate the economy.Currently, the police in Korea restrict illegal gambling. If casinos were allowed in Korea, spending on the police would decrease and these units would be deployed
Class action suit may cost Apple up to W27b

IndustryAug 1, 2011

More than 27,800 Koreans have signed up to file a class action lawsuit against Apple Korea for breach of privacy to pave the way for a legal battle that may cost the company as much as 27 billion won ($25.5 million). Miraelaw law firm, which will be representing the plaintiffs, said the official fig
U.S. House passes bill to avoid default

World BusinessAug 1, 2011

WASHINGTON (AP) -- The Republican-controlled House of Representatives passed bitterly fought, compromise legislation Monday night that would prevent a U.S. default on its obligations but at a cost of deep cuts in government spending.U.S. President Barack Obama. (AP-Yonhap News)The measure still must
Trade surplus widens to $7.2 billion in July

Aug 1, 2011

‘FTA effect’ may be felt in the second half of the year, customs agency saysSouth Korea’s trade surplus widened sharply in July from the previous month as exports grew at a faster pace than imports, the government said Monday.The country’s trade surplus reached $7.2 billion last month, compared with
Korea turns back Japanese lawmakers

Foreign affairsAug 1, 2011

Criticism mounts over Tokyo’s territorial claim to DokdoThree Japanese lawmakers were asked to return to their country as soon as they arrived at a South Korean airport on Monday, as Seoul deterred them from visiting an eastern island in protest against Tokyo’s repeated territorial claims. Thr
Korea-U.S. FTA bill holds back August assembly

PoliticsAug 1, 2011

Parties are still conflicted as to whether to open the parliament’s August provisional session scheduled for this month, especially regarding the Korea-U.S. Free Trade Agreement.“The August session must be held to deal with urgent pending issues such as the recent flood damage and Hanjin Heavy Indus
Lawmakers’ visit tied to Japan politics

Foreign affairsAug 1, 2011

Attempt to visit island could chill bilateral ties, damage economic cooperationThree Japanese politicians denying Korea’s sovereignty over Dokdo arrived at Gimpo airport Monday for an attempted visit to Ulleungdo near Dokdo, despite the Seoul government’s warning that their entry to the countr
Minimum wage for N. Koreans at joint complex rises 5%

Social affairsAug 1, 2011

The minimum wage for North Korean workers being hired by South Korean companies operating at the inter-Korean industrial park in the North’s border town of Kaesong rose by 5 percent this year, the same annual rate of increase since 2007, the Unification Ministry said Monday. Despite frequent cross-b
N.K. official visited Seoul for UNESCO conference

North KoreaAug 1, 2011

A North Korean national visited South Korea for a regional conference of the U.N. cultural agency UNESCO, officials said Monday.The North Korean, identified only by his family name Jang, arrived in Seoul last Monday in the capacity of a UNESCO official to attend the annual meeting by education coord
Drenched nation braces for more rain

Social affairsAug 1, 2011

The nation is expected to see more rainfall, adding salt to the wound for many still facing restoration work after severe flooding and landslides last week, according to the state’s weather agency Monday. Amid record rainfall, the southwestern provinces of North and South Jeolla, the southern island