The Korea Herald

Christians and Muslims clash in Cairo, one dead

World NewsMar 9, 2011

CAIRO (AP) ― Thousands of Christians and Muslims clashed Tuesday, with one Christian man killed and scores wounded as anger rose over the burning of a church in a Cairo suburb.It was the second burst of sectarian fighting in as many days and the latest in a string of violent protests over a variety of topics as simmering unrest continues nearly a month after mass protests led to the ouster of Pres
Fairness discussed in assessing Korean sports federations

More sportsMar 9, 2011

The South Korean government’s positive evaluation of two local sports federations has come under fire for its oversight of some recent wrongdoings by those bodies.The Korea Volleyball Association and the Korea Wrestling Federation each scored high marks in the recent evaluation by the Ministry of Culture, Sports and Tourism, and have received extra grants for training, according to sources.The vol
Korean baseball teams set sights on record crowds

BaseballMar 9, 2011

With about a month left until the start of the new season, teams in South Korea’s first-division professional baseball league said Wednesday they are hoping to draw a record number of fans in 2011.According to the Korea Baseball Organization, the combined number of fans that the eight teams hope to attract this season amounts to 6.63 million, surpassing the single-season record of 5.92 million set
Springtime in Paris, but Chanel feels an autumn chill

FashionMar 9, 2011

PARIS (AFP) ― It’s getting to be springtime in Paris, but for Karl Lagerfeld it was the moment to send a chill of autumn through the Grand Palais on Tuesday as he presented a tomboyish Chanel fall-winter collection.In a deliberate contrast to the Parisian garden theme that framed the spring-summer show, Lagerfeld sent darker, looser looks down a wooden boardwalk the length of a venue carpeted with
Beauty brands go outside the lab for ingredients

FashionMar 9, 2011

NEW YORK (AP) ― They do not quite stumble upon them, but high-tech, skin-care researchers and developers sometimes find new ingredients in unexpected places: under a rock, behind a tree, in the garden.The tips to look outside the laboratory can come from traditional medicine, alternative medicine, folklore and history.Just in the world of botanicals, where many beauty ingredients emerge, there is
Seoul again urges N.K. to receive its citizens

North KoreaMar 9, 2011

North Korean officials are free to come and meet four nationals to verify whether they really wish to defect to the South, a senior official here said Wednesday, as Seoul repeated its demand for the prompt repatriation of the remaining 27 North Koreans.In a message to the North on Wednesday, South Korea made its fourth request for the communist state to immediately take back the 27, who were among
Regulator to tighten savings bank rules

Mar 9, 2011

Korea plans to tighten supervision of savings banks after the government was forced to suspend eight lenders this year because they were unable to meet depositors’ withdrawal demands. The Financial Services Commission will stop setting favorable lending limits for savings banks that have a capital-adequacy ratio of more than 8 percent and a bad-loan ratio below 8 percent, the regulator said in a r
Asiana to open new Incheon-Istanbul route

IndustryMar 9, 2011

Asiana Airlines, the country’s No. 2 air carrier, said Wednesday that it began accepting reservations for its new route Istanbul-Incheon which will operate from March 29.The carrier will offer the flight three times a week ― every Tuesday, Thursday and Saturday ― to the Turkish city and each plane will be able to accommodate 299 people.The flights that will fly from Incheon every Tuesday and Satur
SKT’s iPhone reservations begin

IndustryMar 9, 2011

SK Telecom said Wednesday that about 28,000 people had signed up for its to-be-released Apple iPhone 4 in the first seven hours of registration.A total of 28,000 people made their registrations by 2 p.m. and the number was expected to increase to up to 100,000 people by the end of the day, according to company officials.The country’s leading mobile carrier also said that the first group of 10,000
KEPCO to spend $1.8b on smart grid by 2015

IndustryMar 9, 2011

Korea Electric Power Corp., Korea’s biggest electricity producer, plans to invest 2 trillion won ($1.8 billion) over the next five years in a smart grid as part of the government’s efforts to reduce carbon emissions. Adding two-way communications and other enhancements to the nation’s current power-transmission grid nationwide by 2030 may cut about 10 percent of Korea’s annual power consumption, w
Banks’ capital adequacy slips on Hana dividend

Mar 9, 2011

Korean lenders’ average capital adequacy ratio fell in the fourth quarter after Hana Bank helped finance its parent company’s purchase of Korea Exchange Bank. The ratio, a measure of capital reserves against assets at risk under the Basel II standard, slipped to 14.6 percent at the end of December from 14.62 percent three months earlier, the Financial Supervisory Service said in a statement. The a
Busan Jinhae gets $30m German investment

IndustryMar 9, 2011

Germany-based industrial pump maker Wilo SE will invest $30 million in the Busan Jinhae Free Economic Zone, the BJFEZ Authority announced Wednesday.A memorandum of understanding for the investment was plan was signed by BJFEZ Authority commissioner Ha Myeng-keun and the German firm’s chief operating officer Holger Krasmann at Busan City Hall on Tuesday. Under the agreement, Wilo SE’s Korean arm Wi
Central bank to focus on inflation

Mar 9, 2011

BOK officials point to drop in money supply growth to more than 5-year low in JanuaryThe Bank of Korea said Wednesday it would focus interest rate policy on firmly securing price stability as Asia’s fourth-largest economy will face upward inflation pressures on both the demand and supply fronts.The Korean central bank also said in a policy report to parliament that it would continue its effort to
KB Financial focuses on customer value

Mar 9, 2011

Group provides more financial services, upholds transparency in governanceKB Financial Group is stepping up efforts to improve financial services and maximize customer satisfaction to better meet a fast changing business environment. The group was established in September 2008 under a long term growth plan and an extensive stock transfer from major subsidiaries.Its units include Kookmin Bank, KB K
Japan machinery orders increase 4.2 percent

IndustryMar 9, 2011

Japan’s machinery orders rose more than economists expected in January, signaling that companies will boost spending as economic recoveries abroad strengthen. Factory orders increased 4.2 percent from December, when they rose 1.7 percent, the Cabinet Office said Wednesday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to climb 3 percent, according to the