The labor union of Korea Exchange Bank is bracing for an all-out struggle, including a general strike, to block Hana Financial Group from acquiring the lender, which they fear could lead to a massive restructuring, sources said Tuesday.U.S.-based Lone Star Funds plans to sell its controlling stake in the bank to Hana this year, which is opposed by a majority of the bank’s workers.“They had hoped t

The government will ease regulations to allow more discount stores to operate gas stations, hoping greater competition will help curb fuel price inflation, the Ministry of Knowledge Economy said Monday.The government is also seeking to cut taxes on diesel while raising rates on liquefied petroleum gas to reduce their price gaps, the ministry and state-run Korea National Oil Corp. said. The benchma

The government plans to step up its price monitoring of 22 food items and public services as part of its ongoing efforts to keep inflation under control ahead of the upcoming Lunar New Year holiday, the finance ministry said Tuesday.The government will also provide around 21 trillion won ($18.65 billion) worth of loans and guarantees for small and medium-sized companies in a bid to help support fi

In his desperate challenge to the opposition-dominated city council over the school free lunch issue, Seoul Mayor Oh Se-hoon has proposed a referendum in the capital city. Thus he is offering himself as the gladiator for the conservative forces in what can be a preview of the 2012 presidential election. The 50-year-old mayor in his second term said he could not tolerate the lives of the 10 million

Kang Hee-rak was the chief of the National Police until half a year ago. He is known for strong emphasis on clean service of the entire 150,000 members of the force. Kang now faces arrest in connection with a lobbying scandal in which a catering service businessman bribed a large number of police officers, administration officials and politicians.Yu Sang-bong, 65, who was indicted under arrest lat

The “N-word” has become so emotionally charged that its casual use can end a career, as radio shrink Laura Schlessinger discovered the hard way last year. But that doesn’t mean it’s a good idea to excise it from classic literature for fear of offending modern sensibilities.Alan Gribben, an English professor at Auburn University, is working with NewSouth Books in Alabama to publish a joint edition

Naoto Kan, Japan’s prime minister, likes to cast himself as an ‘Action Man’ bent on churning out new policies to tackle the country’s problems. And to his credit, one cannot say that Kan has done nothing since taking office in June. He has dealt with a crusty China over disputed islands, repaired ties with Washington, and dispatched a key political rival. Thus, it is not surprising that Kan has st

On Christmas day, China’s central bank raised interest rates for the second time in 2010 to check rising consumer prices and the heated real estate market. It would not be surprising to see the central bank lift the rates again in the near future. The move has left me wondering whether allowing interest rates to play their due role in the economy through liberalization, as opposed to raising them

Exactly one year ago on Jan. 12, 2010, a great earthquake hit Haiti located on the center of the emerald green Caribbean Sea. In less than a minute, 200,000 people died, more than 100,000 were missing and 1.5 million became homeless at one time. The National Palace and almost all government buildings collapsed. Thirty high-ranking U.N. officials including Hedi Annabi, special representative to the

The new speaker of the House, Rep. John A. Boehner of Ohio, isn’t the most brilliant statesman ever to hold the job (Newt Gingrich beats him on that count), the most groundbreaking (that was Nancy Pelosi) or the most charismatic (speakers rarely score high on that scale).But he is among the most modest, an attribute rare among politicians ― and one that should come in handy in the rough-and-tumble