The Korea Herald

University helps U.S. soldiers adjust to Korean life

PoliticsApr 24, 2011

PYEONGTAEK ― Pyeongtaek University is emerging as a major educational institution to help U.S. soldiers smoothly adjust to their new lives in Korea through a unique orientation program.Since 2006, the university in the western port city has run the Head Start Program for U.S. troops stationed at nearby Camp Humphreys, the 7th Air Force in Osan and other installations. Under the program, they learn
Derailing puts subway safety in focus

Social affairsApr 24, 2011

Union blames accidents on massive layoff of KORAIL maintenance workersKORAIL’s union has slammed staff cuts, blaming them for Saturday’s derailment of a metro train. While the operator discribes the accident as a minor error, its union attributes it to KORAIL’s downsizing of maintenance employees. Unionists said that the accident could have caused serious injuries, as well as damage.According to K
SK chairman suffers investment loss of over W100b

IndustryApr 24, 2011

The chief of SK Group, a South Korean conglomerate, has suffered a loss of more than 100 billion won ($92.5 million) from futures investment, sources said Saturday.The National Tax Service, the country’s tax agency, found that Chey Tae-won had invested in the futures, but lost most of his money, according to the sources. The tax agency launched tax probes into the group’s key affiliates, such as S
Hyundai Motor Group reaches new high in U.S. midsized market

IndustryApr 24, 2011

Hyundai Motor Group’s share of the United States’ market for midsized sedans for the first quarter of the year rose to a record high, industry data showed Sunday.According to industry data, 66,554 units of Hyundai Motor Co.’s Sonata and Kia Motors Corp.’s K5, known as the Optima in overseas markets, were sold in the U.S. during the first three months of the year, giving the companies’ a combined m
Struggling chaebol take out loans on stocks

IndustryApr 24, 2011

Owners of top industrial companies took out loans against their own shareholdingsOwners of some of the nation’s top “chaebol” industrial groups have obtained loans from creditors by offering nearly all of their own company stocks as collateral, data from the Financial Supervisory Service and online corporate sources showed on Sunday.Almost 80 percent of Dongbu Group Chairman Kim Jun-ki’s 15.41 mil
30 groups see debts surge 51% in 3 years

Apr 24, 2011

Combined debts of Samsung, Hyundai Motor grow by 89 trillion wonThe nation’s 30 biggest business groups saw their combined debts snowball over the past three years, which could undermine their financial soundness, the Fair Trade Commission said on Sunday.According to the antitrust regulator, debts held by the top 30 groups came to 1.03 quadrillion won ($925 billion) as of March 2011, up 51.2 perce
Jeep camping iPhone app

TransportApr 24, 2011

Chrysler Korea has launched an iPhone application that provides information on camping and off-road driving.The “Jeep Camping” application, available free on Apple’s App Store, provides information about 100 camping sites located across the country and tips for driving in off-road conditions provided by experts, the company said.The tips include those on vehicle maintenance, a checklist for driver
Chevrolet expansion fuels GM Korea exports

TransportApr 24, 2011

Chevrolet’s first quarter sales reached a new high this year with 1.1 million vehicles being sold worldwide in the period.While Chevrolet is a U.S.-based brand, the developments have significant implications for South Korea’s automotive industry.The most obvious beneficiary is GM’s Korean arm GM Korea Co. According to GM Korea chief executive Mike Arcamone, 93 percent of the company’s output is bu
Jaguar XJ named luxury car of the year

TransportApr 24, 2011

The Jaguar XJ has been named this year’s International Luxury Car of the Year, Jaguar Land Rover Korea announced Thursday. All New XJThe company said the All New XJ sedan was named the International Luxury Car of the Year at the International Car of the Year awards by a panel of automotive journalists from publications including Auto Week, Road & Travel Magazine, MSN Autos, Consumer Guide Automot
GM likely to retake No. 1 spot from Toyota

IndustryApr 24, 2011

The auto giant’s sales are up in U.S. and China, coming back from bankruptcyDETROIT (AP) ― General Motors is almost certain to claim the title of world’s biggest automaker this year, retaking the top spot from Toyota, which has been hurt by production problems since the Japanese earthquake and still can’t escape the shadow of major safety recalls.The No. 1 title, a morale booster for the winner’s
Little escapes cartoonist’s watchdog pen

PeopleApr 24, 2011

CAPE TOWN (AFP) ― South Africa’s apartheid state locked him up, Nelson Mandela was a fan and Jacob Zuma is suing for millions: all have been rich pickings for the fearless satire of cartoonist Jonathan Shapiro.From slapping down AIDS denials to taking a dig at Zuma’s multiple wives and offspring, his distinctive cartoons spark furious outrage to applause for their spot-on commentary of South Afric
[Editorial] Localization of parts

EditorialApr 24, 2011

Domestic companies are stepping up efforts to localize some of the parts and materials they import from Japan as their suppliers in the neighboring country are in trouble due to the March 11 earthquake.For instance, LG Electronics has decided to develop a microcontroller unit for its home appliances as Toshiba Corp., which accounts for 60 percent of the global MCU supply, has still not fully norma
[Editorial] Card crisis deja vu

EditorialApr 24, 2011

Korea suffered a severe credit card crisis in 2003 that not only disrupted the financial system but hit the real economy with a body blow. The crisis followed a massive credit card lending boom, which was fueled by the government’s misguided bid to boost consumption. As the government eased regulations on the credit card business, card issuers pulled out all the stops to recruit new cardholders. T
Debt at 200% of GDP dares S&P amid succession

ViewpointsApr 24, 2011

So Naoto Kan is a goner. That’s the word in traumatized Tokyo. Japan’s prime minister had a once-in-a-lifetime chance to get his mojo back in the five weeks since a record earthquake and tsunami. He failed, and pundits wonder if he will make it to his first anniversary in office in June. Kan would be the fifth to go in five years. Investors harbor a well-honed cynicism about Japanese leaders. They
Stop partisan politics and fill federal vacancies

ViewpointsApr 24, 2011

If you wanted to leave your job and your boss asked if you could stick around until your replacement was chosen, how long would you be willing to wait? A week? A month? Well, Daniel Hurley has been waiting two years.That would not be any concern to most of us except that Hurley is a federal judge. And his plight reflects a growing national problem: vacancies on the federal bench at a time when cas