The Korea Herald

S. Korea has less forest per capita than OECD average

Social affairsJun 23, 2011

South Korea had one of smallest per-capita forest areas among major economies, an international report said Thursday, indicating the country’s dense population.The nation’s forest area was 1.3 square kilometers per every 1,000 people as of 2008, the “Toward Green Growth” report by the Organization for Economic Cooperation and Development showed.The reading marks the seventh-lowest level among thos
Electronic ID card plan hits resistance

Social affairsJun 23, 2011

A controversial government plan to introduce electronic personal identification cards is unlikely to be realized as scheduled in 2013, faced with strong opposition from those fearing human rights infringements and a waste of taxpayers’ money.A related government bill has yet to be submitted to a parliamentary committee for deliberation although a committee session was held recently, the Ministry o
Bill to support livelihood of freelance artists

Social affairsJun 23, 2011

From as early as next year, screen playwrights and other freelance artists in film, performance and publishing industries may be insured against unemployment or industrial disasters like salaried workers.According to a bill submitted to parliament this month, the government will draw up policies to guarantee the social and legal status of artists. It also calls for the government to fund a finance
Father’s fight to save his family

Social affairsJun 23, 2011

Mom, two daughters stricken by mysterious lung diseaseAt 0:30 on Sunday morning, Jin-ju finally stopped breathing.It was the 93rd day since the 15-month-old baby girl had been hospitalized with flu-like symptoms, which turned out to be an unidentified acute lung disease that has claimed the lives of four patients since May. “I went to Busan (where she was hospitalized) upon hearing the news, had h
Promoting Korean culture in Beijing tastes success and challenges

CultureJun 23, 2011

By Claire Lee, Korea Herald correspondentBEIJING ― The city is booming, huge, commercial and industrial. Its gigantic roads are filled with countless vehicles, high-rise buildings and almost unbearably polluted air.It is lunch time in Dongcheng District, an urban district in Beijing covering the eastern half of the city’s urban core. And what’s located on the ground floor of Park Plaza Mall, one o
Korea to foster local growth engine sectors

IndustryJun 23, 2011

The government said Thursday it plans to boost support for growth industries in the country’s provincial metropolitan areas by injecting 285 billion won ($265 million) this year.The program is the latest in a string of projects that the Ministry of Knowledge Economy has pushed since 2009 to develop regional technology hubs.Under the plan, the ministry will fund nearly 20 billion won this year for
Ministry, refineries differ on how to end temporary oil price cut

Jun 23, 2011

The government is seeking to alleviate the fallout of local oil refiners’ move to raise product prices that were temporarily lowered to help stem inflationary pressure, sources said Thursday.The Ministry of Knowledge Economy recently held talks with local oil companies and called for a “soft landing” approach when they move to mark up gasoline and diesel fuel after July 6, they said.In April, SK I
HTC unveils first 4G phone, tablet

IndustryJun 23, 2011

HTC on Thursday unveiled its EVO 4G smartphone and Flyer 4G tablet, the first fourth-generation smart devices to hit the nation. Starting July 1, the Taiwan-based smartphone maker will be distributing the phones via KT Corp. Prices have yet to be set. Both the phone and the tablet will be capable of transmitting data at up to three times as fast as current smartphones, HTC said. HTC unveils its EV
Ministry plans heavier speeding fines

Jun 23, 2011

The Ministry of Land, Transport and Maritime Affairs unveiled a draft package of traffic safety measures at a public hearing in Seoul on Thursday, which consists of increased speeding fines, brighter crosswalks and tougher penalties for drunk driving. Though the number of deaths from road accidents in Korea has declined by nearly half over the last decade to about 5,500 in 2010, the figure per 10,
Business leaders call for lower taxes

IndustryJun 23, 2011

Local chambers of commerce join to press government to stick to tax policyRepresentatives of one of the nation’s top private economic organizations on Thursday called for the government and politicians to stay committed to tax reduction to help the corporate sector. “Tax reduction is necessary to enhance corporate competitiveness and attract foreign capital,” the heads of the country’s 71 regional
Global chip market forecast to grow 7.2%

IndustryJun 23, 2011

The worldwide semiconductor market is forecast to expand 7.2 percent in 2011 from last year, driven by robust demand for smartphones and tablet PCs, a market researcher said Thursday.Revising up its earlier forecast, IHS iSuppli estimated that global semiconductor revenues will reach $325.9 billion this year, compared with $304.1 billion in 2010. It previously estimated 7 percent annual growth.The
Watchdog vows to curb household debt

Jun 23, 2011

Korea’s financial watchdog plans to curb excessive growth of household debt by tightening banks’ loan-to-deposit ratios and requiring non-bank institutions to raise loan-loss reserves, its head said Thursday.Korea is grappling with snowballing household debt as heavy indebtedness is feared to crimp economic growth by putting restraints consumer spending. The government plans to unveil a set of mea
Eximbank should focus on overseas projects: minister

Jun 23, 2011

Korea Eximbank should focus on long-term projects of a global scale as the key export credit agency of the country, Finance Minister Bahk Jae-wan said Thursday. Speaking at a forum organized by the state-run bank, Bahk said, “The Bank should reduce short-term products such as trade financing, which can be mainly provided by the private sector, but increase mid- to long-term financing for large-sca
Emergence of big investment bank not in sight

Jun 23, 2011

Failure of two brokerages’ merger dims prospectsThe nation is facing a stumbling block in establishing a large-scale investment bank although the chief financial regulator has unveiled a policy toward activation of IB businesses.The pessimistic view comes after KDB Financial Group failed to take over Woori Financial Group amid an uneasy sentiment between the two state-run financial companies.There
Samsung launches Galaxy S2 in Japan

IndustryJun 23, 2011

Samsung Electronics Co., the world’s No. 2 mobile-phone maker, said Thursday that it has released the Galaxy S2 smartphone in Japan through the country’s largest mobile carrier, hoping to build on the popularity of its earlier model. NTT DoCoMo Inc. has started sales of Samsung’s latest Android smartphone earlier in the day, Samsung said in a statement. The Korean company added that the latest Gal