The Korea Herald

S. Korea opens school in Rwanda

Foreign affairsMar 15, 2011

An elementary school built by South Korea opened in Rwanda last week, ready to provide education to hundreds of young students, a state-run institute here said Tuesday.A ceremony was held on March 10 to celebrate the opening of the Wimana Elementary School in the city of Kamonyi, the Korea International Cooperation Agency said in a press release. Korean and Rwandan officials attend the opening cer
A third of Seoul’s overpasses not quake resistant

Social affairsMar 15, 2011

Roughly a third of bridges and highways here have not been retrofitted to withstand earthquakes, causing safety concerns in light of the devastating quake in Japan, said Seoul officials Tuesday.According to the Seoul Metropolitan Government, 111 bridges, highways and overpasses are in need of retrofitting, out of a total 348 located throughout the capital. City officials said, however, that all of
Kia bags two top design awards

IndustryMar 15, 2011

Kia Motors Corp.’s midsized sedan K5 and the compact SUV Sportage R are to receive the top prizes in this year’s Red Dot Design Award, the carmaker announced Tuesday.According to Kia, this is the first time Korean automobiles have been selected to receive the top honors in the German design award. K5 (top) and Sportage RThe K5 has been selected as the Best of the Best award winner in the automobil
KOGAS touts environmental, social contributions

IndustryMar 15, 2011

State-run natural gas developer Korea Gas Corp. said it will further boost its efforts for achieving mutual growth with its contractors and other philanthropic activities, the firm said. KOGAS’ service was recognized last year when it was made Fortune Magazine’s list of the World’s Most Admired Companies. The firm ranked the fourth in the energy firm category. It received good marks for its excell
Japan quake feared to hurt Korean exports

Mar 15, 2011

The massive earthquake that hit Japan last week could slow down Korea’s exports as demand from the nation’s second-largest trade partner might contract significantly due to a protracted economic slowdown, experts said Tuesday.Korea’s exports to Japan have been improving since the start of this year. During the first two months, Korea’s exports to Japan jumped 47.7 percent from a year earlier to $5
Seoul shares plunge on Japanese radiation fears

Mar 15, 2011

KOSPI plummets below 1,900 during trading session, shedding 2.4% at closeKorean stocks tumbled 2.4 percent to a 15-week low on Tuesday hit by rising worries over radiation leaks from Japan’s quake-stricken power plant.The benchmark KOSPI fluctuated during the day, plunging to 1,882.45 at one point though it later managed to contain falls to close at 1,923.92.A day before the index stood at 1,971.2
Yoon criticizes oil refineries over pricing

Mar 15, 2011

Korea is drawing up measures to induce price cuts by oil refineries, the nation’s top economic policymaker said Tuesday, expressing suspicion that they are not setting prices for domestic consumers in a transparent manner.The remarks by Finance Minister Yoon Jeung-hyun are the latest in his series of strong words against the nation’s oil refinery industry. He has been accusing the industry of keep
Ssangyong to invest W240b in rebuilding

IndustryMar 15, 2011

Mahindra and Mahindra completes acquisition of Korean automakerSsangyong Motor Co. will invest 240 billion won ($212 million) in developing new products and building its brand, new CEO Lee Yoo-il said at the press conference announcing the completion of Mahindra and Mahindra Ltd. on Tuesday.The Indian company was chosen as the preferred bidder for Ssangyong in August 2010, about 18 months after th
Five years old, Twitter changing the world

TechnologyMar 15, 2011

SAN FRANCISCO (AFP) ― At five years old, Twitter is just starting to change the world.Jack Dorsey fired off the first tweets on March 21, 2006, an automated “just setting up my twttr” message which he followed with the first “human” tweet ― “inviting coworkers.”It was Dorsey who proposed the idea for Twitter while working with Biz Stone and Evan Williams at podcasting company Odeo.Since then, Twit
Next 3-D war to be about content

TechnologyMar 15, 2011

Developing content will be key to success of new television setsWhat’s the use of having a high-fangled 3D TV or a smart TV if there is nothing to watch? This is a question that 30-year-old bride-to-be Kim Eun-jung keeps asking herself as she shops for appliances ahead of her wedding. Her concerns seem universal, as netizens are busily asking similar questions in online communities about whether t
Facebook launching Groupon-style service

IndustryMar 15, 2011

Facebook Inc. plans to test a Groupon-inspired service that will sell discount offers, an effort to use its 500 million-plus members to capitalize on the surging online-deal market.The service will get started in San Francisco, San Diego, Dallas, Atlanta, and Austin, Texas, the company said last week in a statement. It will be part of Facebook’s existing Deals program, which lets businesses offer
Toyota output may fall by 40,000 cars on power shortage

IndustryMar 15, 2011

Toyota Motor Corp., the world’s largest carmaker, may lose output of at least 40,000 vehicles after Japan’s strongest earthquake damaged factories and crippled nuclear power plants, causing electricity shortages. Toyota closed 12 plants in the nation through Wednesday, Shiori Hashimoto, a spokeswoman for the company, said by phone Monday. The manufacturer’s profit will be cut by 6 billion yen ($72
Japan quake may push up fuel imports

IndustryMar 15, 2011

Economists uncertain how Japan disaster will affect oil demand, though imports likely to riseNEW YORK (AP) ― The earthquake and tsunami in Japan took some steam out of the rally in oil prices by reducing the country’s oil imports. That won’t last long.Japan consumes about 4.4 million barrels of oil per day, most of it imported. Only the U.S. and China consume more. With steel plants, auto manufact
Japan feeds more money to banks

World BusinessMar 15, 2011

Bank of Japan injects another $61.2 billion into financial systemTOKYO (AP) ― Japan’s central bank pumped another $61.2 billion into the financial system Tuesday to quell fears that the country’s banks could be overwhelmed by the impact of the massive earthquake and tsunami.The injection of 5 trillion yen comes a day after the Bank of Japan fed a record 15 trillion yen into money markets and eased
HUFS EU Center aims to bridge gaps

PeopleMar 15, 2011

Hankuk University European Union Center will help bridge Korea with the largest economy in the world, according to the center’s president Park Chul.The Hankuk University of Foreign Studies EU Center aims to contribute to overcoming the limited awareness and understanding of the European Union as a whole, its institutions and its policies in Korea. The center, which opened yesterday, will extend it