The Korea Herald

Slovenians sweep FIS Cup

More sportsJan 13, 2011

Take top 3 spots in ski-jumping event in PyeongChangPYEONGCHANG, Gangwon Province -- Slovenian ski jumper Matjaz Pungertar cleared 135 and 129.5 meters to win the FIS Continental Cup on Thursday at the Alpensia ski jump stadium in PyeongChang. Fellow Slovenian Rok Zima, who claimed second place at the first round Wednesday, finished just 9 points behind the winner after nailing 134 and 128.5 meter
Voting campaign launched to pitch Jeju for ‘New7Wonders of Nature’

TravelJan 13, 2011

JEJU ISLAND ― South Korea has launched a campaign to encourage people to vote for Jeju Island in an initiative to list seven natural wonders of the world. The island is one of the final 28 global candidates for “New7Wonders of Nature.”Lead by the Swiss-based, non-profit New7Wonders Foundation, the New7Wonders of Nature initiative started in 2007.With 300 days left before the final voting date on N
Seoul all-out to contain prices

Jan 13, 2011

Measures include tariff cuts, crop and housing suppliesThe government plans to cut food tariffs, increase crop supplies and freeze public service costs in what it calls a “war against inflation.” A pan-government task force headed by the Finance Ministry on Thursday reported to President Lee Myung-bak a package of measures to rein in skyrocketing food, energy and home rental costs that are threate
Politicians fight to score with welfare

Social affairsJan 13, 2011

Welfare has emerged as a keyword for the 2012 presidential election as the main opposition Democratic Party finalized a package of “universal welfare” pledges as its central campaign strategy on Thursday. The move came weeks after Rep. Park Geun-hye, the leading presidential hopeful of the ruling Grand National Party by far, suggested what she called “tailored” welfare policies for Koreans: limiti
O’ngo teaches classic Korean cuisine

Expat LivingJan 13, 2011

O’ngo teaches classic Korean cuisineO’ngo Culinary School is offering cooking classes for Korean cuisine on Saturdays in January and February. Classes cover Korean classics such as “Bibimbap,” “Japchae,” and “Sundubu.” This Saturday’s class covers “dakdoritang” -- a spicy chicken and potato soup. The classes will be in English and take place at 11 a.m. and 3 p.m. Classes cost 55,000 per session, o
S. Korean, Japanese coast guard ships in confrontation near Dokdo

PoliticsJan 13, 2011

ULLEUNG ISLAND -- A South Korean coast guard ship is in confrontation with a Japanese patrol ship in waters near the South Korean islets of Dokdo over an issue of violating an exclusive economic zone, an official said Thursday.(Yonhap News)
U.S. more cautious on N.K. threats

PoliticsJan 13, 2011

Expert warns of Pyongyang’s possible missile test-firing, more provocations this yearAs regional powers coordinate terms under which they can resume peace talks with North Korea, Washington appears to be growing more cautious about what impatience and instability could push the nuclear-armed state to do. Nuclear and missiles threats by the impoverished communist state go “beyond the region to the
Defense procurer toughens vetting of military equipment

PoliticsJan 13, 2011

Blocking defects in weapons and military equipment is to be a key goal of South Korea’s military acquisition agency this year, the agency said on Thursday.This goal is apparently aimed at addressing public concerns over several military accidents due to flaws in military supplies and equipment in recent years.The Defense Acquisition Program Administration also said that it would seek this year to
K-21 armored vehicles back in use

PoliticsJan 13, 2011

K-21 armored vehicles will return to military use in April after defects that sank two of them in 2009 and last year were fixed, an official at the military acquisition agency said Thursday.After it sank during a river-crossing training session in July, killing one solider, the domestically-built K-21, which was touted as a high-tech amphibious infantry fighting vehicle, was found to have a series
Watchdog chief vows to fight corruption

PoliticsJan 13, 2011

Kim Young-ran, the new chief of the Anti-Corruption and Civil Rights Commission, said Thursday the rights watchdog would focus on rooting out irregularities among high-ranking officials this year.“Most corruption starts from asking for special favors,” Kim said in a meeting with auditors of public organizations including government ministries and local administrations at the panel’s office in Seou
BOK hikes rate to 2.75%

Jan 13, 2011

South Korea’s central bank unexpectedly raised the key interest rate by a quarter percentage point on Thursday as economic growth and rising raw material prices are exerting mounting inflationary pressure.Bank of Korea Governor Kim Choong-soo and his fellow policymakers hiked the benchmark seven-day repo rate, dubbed the base rate, to 2.75 percent. It marked the third rate increase since the onset
Japanese foreign minister to visit Seoul on Saturday

PoliticsJan 13, 2011

Japanese Foreign Minister Seiji Maehara will make a one-day trip to South Korea on Saturday for talks with his counterpart, instead of staying overnight from Friday as originally planned, an official said.Maehara called South Korean Foreign Minister Kim Sung-hwan on Thursday to ask if he could change the travel schedule, citing “various circumstances,” a ministry official said on condition of anon
Hyundai unveils new Grandeur

IndustryJan 13, 2011

Hyundai Motor Co., Korea’s top automaker, unveiled Thursday the long-awaited new version of its upper-end passenger vehicle, the Grandeur.The fifth-generation Grandeur, sold as the Azera in overseas markets including the United States, is the first version out in nearly five years since May 2005.“We are confident the new Grandeur will add to the class and pride of its customers as it comes with a
Hana faces delay in approval of KEB buy

Jan 13, 2011

Regulatory approval for Hana Financial Group Inc.’s acquisition of Korea Exchange Bank may come later than expected, which could push up the group’s cost for the takeover deal, sources said Thursday.Hana Financial expected to receive regulatory approval around February for its Nov. 25 contract with U.S. buyout firm Lone Star Funds to take over a 51.02 percent stake in KEB for 4.69 trillion won ($4
Portugal claims success in bond sale

Jan 13, 2011

Demand strong for bond, but bailout worries lingerLISBON (AFP) ― Portugal said it passed a key test on Wednesday with a successful bond sale but analysts were cautious, arguing that a bailout remains a real possibility to ease its debt problems ― and those of the eurozone.The government raised 1.25 billion euros ($1.6 billion), the maximum it sought, attracting strong interest and slightly lower r