The Korea Herald

Parties gear up for April by-elections

PoliticsMar 3, 2011

Polls to elect three lawmakers, 23 other officialsRival parties are speeding up preparations for the April 27 by-elections as their lists of potential candidates take shape.The ruling Grand National Party and the main opposition Democratic Party are striving to field more competitive personalities for the elections, which are expected to serve as a political weathervane ahead of parliamentary and
Air Force cuts flying hours as oil prices soar

Social affairsMar 3, 2011

A significant rise in oil prices has forced the Air Force to slash its authorized flying time and other military wings to take energy-saving steps, the Defense Ministry said Thursday. The measures are in line with a government-wide campaign as the price of Dubai crude, which makes up the bulk of South Korea’s imported oil, is hovering around $110 a barrel, following turmoil in the Middle East and
Seoul unveils teachers’ guidelines on Dokdo

Social affairsMar 3, 2011

South Korean schools will systematically reinforce their students’ education regarding the nation’s easternmost islets of Dokdo under special teaching guidelines newly distributed by the Education Ministry, officials said Thursday.The Ministry of Education, Science and Technology sent comprehensive teaching guidelines to the municipal and provincial education authorities and schools across the nat
Rights panel opposes proposal on corporal punishment

Social affairsMar 3, 2011

The government’s proposed alternatives to corporal punishment at schools could also be a violation of human rights if they cause students physical pain, South Korea’s rights watchdog said Thursday.The Education Ministry in January started taking steps to revise an enforcement ordinance for a related education law, aiming to ban corporal punishment and introduce various other forms of punishment, i
Seoul shares rebound on recovery hopes

Mar 3, 2011

Korean stocks closed 2.2 percent higher on Thursday, recouping losses from earlier this week, as a series of encouraging economic data spurred strong foreign and institutional buying, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 42.42 points to 1,970.66. Trading volume was moderate at 277.2 million shares worth 5.13 t
Hyundai pushes into premium market

IndustryMar 3, 2011

Korea’s No. 1 carmaker launches i40 D-class vehicle at Geneva auto showGENEVA (AP) ― Fast-growing Hyundai may be best known for its small cars, but plans to break into the premium market with a new sedan has the big guys looking over their shoulders.The Korean automaker is not half as well known in Europe as Toyota, for example, and consumers typically associate its cars with affordability rather
‘Inflation ...rising in Asia, emerging economies’

World BusinessMar 3, 2011

WASHINGTON (AFP) ― A top International Monetary Fund official expressed concern Wednesday about overall inflation in emerging countries beyond the current spike in food and commodity prices.Naoyuki Shinohara, IMF deputy managing director, highlighted signs of a broadening upward pressure on prices in a speech to Asian central bankers in Colombo, Sri Lanka. Vendors sell vegetables at a produce mark
‘10 years to rebuild Christchurch’

World NewsMar 3, 2011

Quake-hit city concludes there are no more trapped survivorsCHRISTCHURCH, New Zealand (AFP) ― It will take at least 10 years to rebuild Christchurch, officials said Thursday, warning it would be months before they could even begin to reopen the quake-hit New Zealand city.The timeline, outlining the scale of damage to the country’s second largest city, came as the death toll from last week’s devast
Sony apologizes for J-pop band’s Nazi garb

MusicMar 3, 2011

TOKYO (AFP) ― Sony Music apologized on Wednesday for the Nazi-style uniforms worn by a Japanese pop band under its management in an MTV broadcast that triggered a protest from a U.S.-based Jewish rights group.The Simon Wiesenthal Center in Los Angeles had voiced its “shock and dismay” at the appearance of the six-member J-Pop band Kishidan in SS-style uniforms with Nazi insignia such as the Iron C
GRE offered more frequently

Social affairsMar 3, 2011

The Graduate Record Examinations, the most widely accepted set of tests adopted by graduate schools, will now be offered up to twice every month in Korea, saving students a flight to Japan.Starting this August, a revised format of the GRE will be offered once or twice every month here in the form of computer-based testing, according to the Educational Testing Services and the Ministry of Science,
SNU mulls in-house human rights panel

Social affairsMar 3, 2011

Move follows dismissal of professor for abusing studentsSeoul National University is considering establishing an in-house human rights watchdog to monitor abuses within the community including violence, corruption and embezzlement.Students will be encouraged to inform the school of their professors’ irregularities under a tight witness protection system and violence among students will be thorough
Making the most of educational investment

ViewpointsMar 3, 2011

Korean college system needs market forcesThe following was contributed by Daniel E. Suh, professor of economics and finance, Graduate Program for Technology and Innovation Management, Pohang University of Science and Technology (POSTECH). ― Ed. Daniel E. SuhIn the first class of my investment course, I always toss out a question to my students: Have they ever made any investments? For a moment, t
Hynix seeks delay of patent trial

Mar 3, 2011

Hynix Semiconductor Inc., Micron Technology Inc. and Nanya Technology Corp. asked a federal judge in California to delay a patent-infringement trial scheduled for May 2 over claims brought by Rambus Inc. Jared Bobrow, a lawyer representing the memory-chip makers, said in a letter Wednesday to U.S. District Judge Ronald M. Whyte in San Jose, California, that the trial should be taken “off calendar”
Korea to spend W9b on renewable energy projects

IndustryMar 3, 2011

The government will set up a 9 billion won ($7.8 million) fund this year to assist local firms’ clean energy projects overseas. The government’s latest move is part of the country’s efforts to make $40 billion from exports related to renewable energy such as photovoltaic and wind power by 2015.“The global renewable energy market is projected to be highly prospective, and thus will likely push up t
Korean, Japanese firms to buy Brazilian rare metal miner

IndustryMar 3, 2011

The National Pension Service and POSCO will acquire 5 percent stakes in a Brazilian producer of a rare earth metal used in steel, oil pipes and automotive components, they said on Thursday.They will each invest 400 billion won ($356 million) to acquire 5 percent of Brazil’s Companhia Brasileira de Metalurgia e Mineracao, the world’s largest producer of the scarce mineral niobium.CBMM controls the