The Korea Herald

Lee, Sohn fail to bridge gap on FTA

PoliticsJun 27, 2011

President, opposition leader disagree on timing, extent of college tuition cutsPresident Lee Myung-bak on Monday declined main opposition leader Sohn Hak-kyu’s request for a revised supplementary budget bill, citing the proposal’s failure to meet legal conditions.The Democratic Party leader called for more government spending to help cut college tuition, create jobs, recoup damages from typhoons a
Seoul reaffirms its flexibility on N.K.

Foreign affairsJun 27, 2011

A senior South Korean official said Monday his government could temporarily put sensitive issues behind it once the stalled dialogue with North Korea resumes, hinting at growing flexibility to tackle the current stalemate. Since the latest attacks last year, Seoul has suspended aid and dialogue, with firm determination not to do the North any favors until it admits responsibility for the deaths of
Strengths and weaknesses of GNP runners

PoliticsJun 27, 2011

(from left) Park Jin, Nam Kyung-pil, Hong Joon-pyo, Na Kyung-won, Yoo Seong-min, Won Hee-ryong, Kwon Young-seSupport of Park Geun-hye faction expected to hold critical sway in electionWith the ruling Grand National Party’s internal elections to select its new chair less than a week away, the seven candidates are making their cases as to why they should lead the party through next year’s big races
More typhoons expected here

Social affairsJun 27, 2011

With typhoon Maeri fizzling out, sparing the Korean Peninsula from predicted damage, two more typhoons may hit here this season, according to the state’s weather agency on Monday.The Korea Meteorological Administration predicts that 23 typhoons will form this year, following the yearly average of 23.3 typhoons during the season, between June and December.Of those predicted, one or two typhoons are
S. Korea to send Navy elite forces to the UAE

PoliticsJun 27, 2011

South Korea will dispatch 10 members of its Navy’s Underwater Demolition Team to the United Arab Emirates next month to help train troops in the Middle East country, an official at the Ministry of National Defense said Monday.They will join the 130-member contingent, which was deployed there in January following the UAE’s request last August that South Korea help it nurture world-class special war
Defense Ministry steps up anti-corruption programs

DefenseJun 27, 2011

The Ministry of National Defense will implement a stringent inspection system next month as the government strives to root out corruption and enhance public trust, officials said Monday.From October, it will also apply the property registration rule to more military officials in a bid to boost the anti-corruption drive.Such measures came as some 120 officials from the ministry, the Joint Chiefs of
Hanjin Heavy signs fragile deal

Social affairsJun 27, 2011

Union agrees to end 190-day strike, but hardliners cry foul against accordLabor unionists of Hanjin Heavy Industries & Construction’s shipbuilding unit on Monday announced that they would return to their workplaces, ending their 190-day strike against the company’s massive layoff plan. Still, anxiety is suurrounding the back-to-work move as hawkish unionists cry foul against their leadership’s dec
Scholars talk about the past and future of Korean studies in Beijing

CultureJun 27, 2011

Korean education should pay more attention to Chinese students’ needs: LeeBEIJING ― Professor Lee Yu-seung arrived in Beijing in 2003, at the Korean department of Beijing International Studies University, where its Korean curriculum was officially launched as an undergraduate degree program the year before.“They needed a native Korean professor from Korea for the undergraduate degree program,” Lee
POSCO chief to head engineering academy

IndustryJun 27, 2011

POSCO chief executive Chung Joon-yang was appointed the new president of the National Academy of Engineering of Korea at the organization’s general meeting on Monday.Chung replaces Kim Doh-yeon who will now head the National Science and Technology Commission. Chung Joon-yang. (POSCO)The POSCO chief executive has been a full member of the National Academy of Engineering of Korea since 2008, and wil
Google, Apple top picks for Korean job seekers

IndustryJun 27, 2011

(AP-Yonhap News)Google Inc. and Apple Inc. are the two most sought-after foreign companies among South Korean job applicants, a market survey showed Monday, pointing to their popularity here.According to the latest survey of 1,428 job seekers by SaraminHR Co., 16.7 percent of the respondents selected Google Korea as the most desired company to work at among foreign firms, citing the company’s corp
Number of Chinese firms here triples in decade

IndustryJun 27, 2011

The number of Chinese firms making inroads into the local market has climbed almost three-fold over the past decade, reflecting its expanding presence as Korea’s No. 1 trading partner and the world’s second-largest economy, tax authorities said Monday.The National Tax Service said the number of companies headquartered in mainland China reached 620 as of the end of 2009, up from 225 in 1999. Combin
Korean women earn lower pay in spite of increase in social status

Jun 27, 2011

Korean women continue to be paid less than men despite improvements in their social standing.A Statistics Korea report showed that the average salary of women stood at 67 percent that of men last year. While the figure is higher than that for 2009 ― when it was 66.5 percent ― it remains disparate from the rapid rise in women’s presence in universities, professional vocations and as successful appl
Shin Ramyun Black fined for false ads

IndustryJun 27, 2011

NongShim, the country’s largest instant noodle maker, was fined 155 million won ($143,022) for deceptive advertising of its latest product, Shin Ramyun Black, the corporate watchdog said Monday.The Fair Trade Commission called the company’s description of the item as an “ideal product meeting the nutrition ratio” misleading and ordered them to fix the advertisement.“Some food manufacturers, of lat
Jeju United striker Shin awake from 50-day coma

More sportsJun 27, 2011

Jeju United striker Shin Young-rok is awake after a 50-day coma, resulting from a serious heart attack in May, Cheju Halla General Hospital announced on Jeju Island, Monday.Shin is now capable of communicating freely and will eventually be able to return to his normal life with the help of rehabilitation therapies, the hospital said. Jeju United manager Park Kyung-hoon (right) clasps hands with st
Securities firms could be hit by ban on short-term loans

Jun 27, 2011

The stock brokerage industry faces a revamping as financial regulators have decided to restrict transactions of “call money,” short-term loans provided to securities firms from financial companies.Citing the necessity of reducing the liquidity risk among securities firms, the Financial Supervisory Service said last week that it would ultimately ban brokerages from applying for call loans starting