The Korea Herald

‘No hasty decision on N.K. food aid’

Foreign affairsJun 26, 2011

Clinton: U.S. to engage Pyongyang only on condition Koreas resolve own disputesWASHINGTON (Yonhap News) ― U.S. Secretary of State Hillary Clinton said Friday a decision on food aid to North Korea is on hold due to concerns over transparency in distribution and outstanding issues from the suspension of Washington’s previous food shipments.Speaking after talks with South Korean Foreign Minister Kim
Lee to visit Africa for PyeongChang bid

PoliticsJun 26, 2011

President Lee Myung-bak on Saturday will fly to South Africa for a weeklong tour of three African countries, Cheong Wa Dae said Sunday. The trip is part of last-minute efforts to promote Korea’s PyeongChang as the host of the 2018 Winter Olympics and to strengthen economic ties.The president will arrive in Durban, South Africa, on Saturday evening, four days before the International Olympic Commit
S. Korea, U.S. sign development accord

Foreign affairsJun 26, 2011

WASHINGTON (Yonhap News) ― In what is billed as another “milestone” initiative, South Korea and the United States on Friday signed an agreement to work together for the development of impoverished nations, particularly in central Africa.Under the deal signed here by South Korean Foreign Minister Kim Sung-hwan and U.S. Secretary of State Hillary Clinton, the allies will hold annual consultations on
Police take action against investigative rights bill

Social affairsJun 26, 2011

Police officers have taken collective action against a revised bill on the investigative rights of the police and the prosecution, signaling a bumpy road ahead for the compromise reached a week ago.Top government officials including Presidential Chief of Staff Yim Tae-hee, Justice Minister Lee Kwi-nam and National Police Agency chief Cho Hyun-oh agreed on a compromise draft last Monday to let the
Hurdles remain for Korean adoption

Social affairsJun 26, 2011

Red tape means many de-facto adoptions not included in official figuresFor 46-year-old housewife Yoo Hyun-mi, mornings are a nightmare. Her three daughters, Cha Hye-in, Cha Hye-seon and Cha Hye-ju quarrel over clothes, hairstyles and other trivial matters before going to elementary school. Yoo always has to mediate to make them go to school on time. “Sometimes I don’t have time to breathe,” Yoo sa
From backpacker to self-made media man

Expat LivingJun 26, 2011

Editor of 10 Magazine tells of how he’s embraced Korea’s many opportunitiesAs 2008 drew to a close and the world’s economies spiraled into the depths of recession, the already struggling media industry braced for the fallout. One American in South Korea, however, with no prior experience in the field, had spotted a gap in the market and decided to launch his own magazine. “It was a nightmare. 2008
Korea to top $1tr in trade this year: report

Jun 26, 2011

South Korea’s trade volume will likely cross the $1 trillion threshold this year on the back of brisk recovery, a report showed on Sunday.According to the study by the Korea International Trade Association, the country will log $561 billion in exports and $530.5 billion in imports by the end of the year. The trade surplus would amount to $30.5 billion, the association said. This would make Korea a
Samsung Electronics wins 2 British consumer awards

IndustryJun 26, 2011

Samsung Electronics announced Sunday that it has been named the best manufacturer for portable media and home audio-visual products by U.K.-based “Which?” Magazine. Samsung outstripped other finalists ― Panasonic Corp. and Sony Corp. ― in the “Best Home Audio-Visual Brand” category. “Samsung has a strong presence across many of our product areas we cover,” the judges said. “Its innovation and atte
Seoul bourse expected to gain ground

IndustryJun 26, 2011

South Korea’s stock market is expected to continue its upward movement this week as investor worries over high energy prices may ease and outlooks for major economies could improve, analysts said Saturday.Still, anxiety remains that the debt crisis in Greece might hurt investor sentiment significantly and reverse the market course, they noted.The country’s key stock index, the KOSPI, gained 2.89 p
S-Oil gets new home in Mapo, Seoul

IndustryJun 26, 2011

S-Oil Corp. begins operating out of its new office in Mapo, Seoul, on Monday. This is the first time the company, which previously rented offices in the 63 City building in Yeouido, has set up headquarters in its own building since its establishment in 1976. S-Oil’s new office in Mapo, Seoul. (S-Oil)According to the company, the new building was designed to resemble the square-sailed boat used dur
Work starts on second Incheon Airport terminal

IndustryJun 26, 2011

Work has started on the third phase of the Incheon International Airport expansion plan that will fuel growth of the key Northeast Asian transportation hub, the Incheon International Airport Corp. (IIAC) said Sunday.The state-operated corporation said that it picked blueprints for the airport’s second passenger terminal drawn up by a consortium led by Heerim Architects and Planners Co.It said the
Samsung Electronics may face penalty for obstruction: FTC

IndustryJun 26, 2011

Samsung Electronics may be penalized for obstructing an investigation by the Fair Trade Commission.Sources from the antitrust watchdog said the agency is considering penalties over an incident in March when employees of Samsung Electronics’ Suwon plant barred the commission’s investigators from entering the facility.The investigators had been dispatched to monitor the manufacturing price of mobile
Hyundai, Kia rank No. 1 in U.S. for mid-size cars

IndustryJun 26, 2011

Combined market share of mid-sized sedans made by Hyundai Motor Co. and its sister company Kia Motors Corp. ranked first in the United States last month, industry sources said Sunday.Sources said sales of Hyundai’s popular Sonata sedan reached 22,754 units in May, while Kia sold 7,401 Optima sedans in the one month period. This pushed up market share of the two models to 19.0 percent of all mid-si
SC First Bank faces mass strike

Jun 26, 2011

Bank offers ‘final proposal,’ but union sees no differenceAbout 3,000 unionized workers of Standard Chartered First Bank Korea are poised to go on an indefinite strike this week as they have failed to reach a compromise with management on salary.Despite continued efforts at persuasion and proposals by management, the union still opposes plans from the U.K.-based bank’s Korean unit to introduce a p
Mercedes-Benz introduces new CLS 63 AMG

TransportJun 26, 2011

Mercedes-Benz Korea, the local unit of the luxury car division of Daimler AG, has introduced the second-generation of its passenger vehicle, the CLS 63 AMG, in Korea.The new CLS 63 AMG comes with a new V8 5.5-liter biturbo engine that is smaller than the 6.2-liter engine in the previous version, but generates more horsepower and torque while consuming less gasoline. Mercedes-BenzThe new engine pro