The Korea Herald

Learning Korean in London

CultureJun 20, 2011

SOAS attracts students with broad exchange programsLONDON ― Majoring in Korean might sound a little intimidating to most Europeans, but Kevin Fry, a senior at the School of Oriental and African Studies, University of London, was up to the challenge.“I tried to learn Chinese, but didn’t find it particularly enjoyable. So I started to learn Korean, and initially got interested in it,” he said. Kevin
Berlin becomes hub of Korean studies in Europe

CultureJun 20, 2011

Free University educates German experts in Korean social sciencesBERLIN ― After speaking with Hannes Mosler for five minutes, one might wonder whether he is German or Korean.Although he has no Korean background, Mosler not only speaks flawless Korean, but also perfectly understands its culture and customs. “I first got interested in Korea in 1994, when I visited the country during my backpacking t
Hyundai-Kia top Asian carmaker in Europe

Jun 20, 2011

Hyundai Motor and its affiliate Kia Motors have secured the No. 1 position in sales among Asian carmakers in the European market, outstripping Toyota Motor.According to the European Automobile Manufacturers’ Association, Hyundai-Kia sold 58,585 vehicles in 28 European countries in May, grabbing 4.7 percent of the market.Though the two affiliated companies saw their market share inch down 0.5 perce
Korea may struggle to meet power demand

Jun 20, 2011

Korea may be hard pressed to meet an expected hike in summer power use as demand growth is likely to exceed the country’s supply capabilities, the government said Monday.The country’s maximum power demand from June through August is forecast to rise 7 percent on-year to 74.77 million kilowatts, while supply will likely go up 6.2 percent to 78.97 million kilowatts, the Ministry of Knowledge Economy
Samsung Electronics enters Japanese LTE market

IndustryJun 20, 2011

Samsung Electronics marked its splash into the global fourth-generation telecom market in earnest with a contract for providing long-term-evolution equipment to Japan’s second-largest mobile phone operator.Samsung will be offering its LTE equipment to KDDI to help the firm launch its LTE services starting next year, the Seoul-based electronics company said on Monday.LTE is the fourth-generation of
Softbank aims for world top 10 in 30 years

IndustryJun 20, 2011

CEO Son says company will help renewable energy industry through Internet technologyMasayoshi Son, chairman of Softbank Corp., said Monday that the company aims to be listed as one of the world’s top 10 firms in market capitalization in the next 30 years.In a press conference held in downtown Seoul, the 53-year-old chief executive officer said the firms belonging to the top 10 list have changed ra
Economy to expand 4.5% in 2011: KIET

Jun 20, 2011

Korea’s economic growth is expected to expand 4.5 percent on-year in 2011 as the steady pace of the global economic recovery contributes to more exports, a state-run think tank said Monday.The forecast by the Korea Institute for Industrial Economics and Trade is up from its earlier prediction of 4.3 percent.Last year, the Korean economy, Asia’s fourth-largest, expanded 6.2 percent. “The economy wi
Think tank chiefs call for additional rate hike

Jun 20, 2011

The heads of Korea’s major think tanks Monday emphasized the importance of the nation’s continued efforts to “normalize” macroeconomic policies, citing a sufficient amount of liquidity unleashed in the domestic market.In their meeting with Finance Minister Bahk Jae-wan in central Seoul, they also shared the view that Korea’s economy is faced with growing external risks from slowing recovery in adv
POSCO listed as world’s most competitive steelmaker for 2nd time

IndustryJun 20, 2011

The steelmaker POSCO announced Monday that it was ranked top in the U.S.-based steel industry analysis firm World Steel Dynamics’ World-Class Steelmaker’s list for the second consecutive year. In this year’s report, World Steel Dynamics rated 34 steelmakers in 23 categories including technological capability, profitability and access to raw materials. POSCO scored 8.12 points to take the top spot.
STX to build shipyard in Russia

IndustryJun 20, 2011

STX Corp. announced Monday that it signed a memorandum of understanding on building a shipyard for Russia’s state-run shipbuilder United Shipbuilding Corp. at the international economic forum held in St. Petersburg on Friday.Under the agreement, STX, which counts construction and shipbuilders among its subsidiaries, will undertake the $1 billion project to build a shipyard in St. Petersburg. The c
40-hour week means no new mobiles on Saturdays

IndustryJun 20, 2011

Mobile retail outlets will not be able to activate new mobile phones on Saturdays starting from next month as the government plans to enforce the 40-hour per week work scheme for smaller workplaces.The country’s three mobile carriers ― SK Telecom, KT Corp. and LG Uplus ― said that electronics systems at the mobile retail outlets will not function on Saturdays beginning July 1.The move comes as the
Hyundai Securities hit by network glitch

Jun 20, 2011

Cyber network problems have occurred again in the nation’s brokerage sector, following similar cases in NH Investment & Securities, Leading Investment & Securities, and Dong Yang securities earlier this year.Customers of Hyundai Securities suffered troubles in their online investment in stocks for about an hour early Monday due to a glitch in the brokerage firm’s network system.The investors could
Customs agency uncovers overseas money laundering

Jun 20, 2011

The largest money-laundering scam conducted through overseas tax-havens has been uncovered by the Korea Customs Service.According to reports, the Korea Customs Service uncovered a money laundering scam by a local intermediate trading firm involving foreign currencies valued at 762.5 billion won ($704.1 million).The company imports petrochemical products, which it then exports to other markets. The
[Herald Inteview] Korean banks’ short-term external debt rising: Fitch

Jun 20, 2011

Credit rating agency Fitch noted the rising short-term external debt held by Korean banks in recent months, but said its portion relative to overall external debt was still sustainable.“The South Korean government has been trying to reduce the industry’s short-term external debt but the level is back on the rise,” Andrew Colquhoun, Fitch’s head of Asia Pacific sovereign ratings, said in an intervi
OECD chief sees no double dip

Social affairsJun 20, 2011

The world economy is seeing some signs of a slowdown due to the eurozone’s debt problems and a weak U.S. housing sector, but is not headed for a double-dip slump, Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said Monday.“No, that is not the case,” Gurria said when asked if recent signs of a slowdown pointed to the global economy facing another downt