The Korea Herald

Market competition crucial for curbing inflation: minister

Jun 13, 2011

Korea needs to boost market competition further in order to fight high inflation, the biggest headache for the economy, the top economic policymaker said Monday.The remarks by Finance Minister Bahk Jae-wan come as South Korea is struggling with high inflation. The country’s consumer prices surged 4.1 percent on-year in May, hovering above the 4 percent level for five months running and well above
FSC faces hurdle over Woori sale

Jun 13, 2011

Opposition party against revising law on financial holding firmsThe sale of state-run Woori Financial Group faces a significant showdown this week as to whether financial authorities can gain the momentum needed to push for the revision of laws on financial holding companies.The Financial Services Commission is considering proposing a revision to a bill allowing a financial group to own another fi
Samsung Electronics, SKT most favored workplaces

IndustryJun 13, 2011

Samsung Electronics and SK Telecom were picked as the best companies for people to work in a survey released by an economic consulting firm on Monday.The Korea Management Association Consultant said Samsung Electronics received the highest marks in manufacturing and SKT was rated No. 1 in service providers when selecting the top company to work for in Korea in a survey answered by 5,214 people.Sam
POSCO’s China subsidiary completes plant expansion

IndustryJun 13, 2011

Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also
LGE commits to basics, quality

IndustryJun 13, 2011

Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in
Machinery orders drop in Japan

IndustryJun 13, 2011

Japan’s machinery orders fell for the first time in four months in April, an indication that companies are reluctant to spend after the March 11 earthquake and tsunami. Factory orders declined 3.3 percent in April from March, when they rose 1 percent, the Cabinet Office said Monday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to increase 1.7 percent, ac
Could prenatal DNA testing open Pandora’s box?

World NewsJun 13, 2011

NEW YORK (AP) ― Imagine being pregnant and taking a simple blood test that lays bare the DNA of your fetus. And suppose that DNA could reveal not only medical conditions like Down syndrome, but also things like eye color and height. And the risk for developing depression or Alzheimer’s disease. And the chances of being gay.So far that’s still science fiction. But scientists have been taking some b
[Editorial] Tuition politics

EditorialJun 13, 2011

One of the ugliest political scenes took place last week at the narrow Cheonggyecheon square in Seoul which was packed with university students holding candle lights in a rally demanding “halved tuition.” Opposition Democratic Party chairman Sohn Hak-kyu climbed onto the makeshift stage and urged the rallying students in his high-pitched voice to mount their pressure on the Lee Myung-bak governmen
[Editorial] K-pop in Europe

EditorialJun 13, 2011

Two sold-out performances at Le Zenith de Paris concert hall last week marked a successful venture for K-pop groups in Europe, which we attribute first to the talents of the singers and then to their management’s “culture technology” of aggressive marketing. Of course, YouTube, Facebook and all other high technology tools helped introduce the stars to Europe before they landed in Paris. TVXQ, Girl
Afghan troop withdrawal must be significant

ViewpointsJun 13, 2011

President Obama must soon choose whether to order a “significant” withdrawal of U.S. troops from Afghanistan ― as he promised ― or content himself with a token drawdown. After nearly a decade of war and a troop buildup that seems to have produced results, the president should abide by his commitment, even if it means overriding his military advisors.In December 2009, when he authorized a surge of
[Shashi Tharoor] India turning itself into a donor

ViewpointsJun 13, 2011

NEW DELHI ― The recent India-Africa summit in Addis Ababa, Ethiopia, at which India’s government pledged $5 billion in aid to African countries, drew attention to a largely overlooked phenomenon ― India’s emergence as a source, rather than a recipient, of foreign aid.For decades after independence ― when Britain left the subcontinent one of the poorest and most ravaged regions on earth, with an ef
[Meghan Daum] What’s with the ‘hiker hate’ in the U.S.?

ViewpointsJun 13, 2011

The story of Shane Bauer, Josh Fattal and Sarah Shourd, the American hikers who in July 2009 crossed the border ― inadvertently, all evidence suggests ― from Iraqi Kurdistan into Iran and were imprisoned for espionage, is back in the headlines. Shourd, who was released in September on humanitarian grounds and after paying $500,000 in bail, has been promoting a “rolling hunger strike” to remind us
Nuclear proliferation: Engaging with Iran

ViewpointsJun 13, 2011

As ambassadors to Iran during the last decade, we have all followed closely the development of the nuclear crisis between Iran and the international community. It is unacceptable that the talks have been deadlocked for such a long time.The Arab world and the Middle East are entering a new epoch in which no country is immune from change. This includes the Islamic Republic of Iran, which is facing t
[Trudy Rubin] Ex-bin Laden colleague sees al-Qaida’s influence waning

ViewpointsJun 13, 2011

LONDON ― Abdullah Anas, a jovial, bearded onetime Algerian imam, was a close colleague of Osama bin Laden in the jihad against the Soviets in Afghanistan.He considered bin Laden a friend, but broke with him over the slaughter of innocents on 9/11. Today, Anas thinks al-Qaida’s grip on the minds of radical Muslim youth is finally ending.“I think the philosophy of al-Qaida is failing now,” Anas says
Syria’s army seizes back restive town

World NewsJun 13, 2011

BEIRUT (AP) ― Elite Syrian troops backed by helicopters and tanks regained control Sunday of a town where police and soldiers joined forces with the protesters they were ordered to shoot ― a decisive assault from a government prepared for an all-out battle to keep power.Troops led by the president’s brother shelled Jisr al-Shughour as the gunships hovered overhead, paving the way for scores of tan