Hyundai Motor Group announced Sunday that the combined sales of Hyundai Motor Co. and Kia Motors Corp. in China came in at 1.1 million units last year, up 28.2 percent compared to 2009.With the increase, the group took 9 percent of the Chinese market and became the second-largest automotive group operating in China, the company said.Hyundai was fourth with about 700,000 units sold in China while K

An era of high inflation is coming. China has raised its interest rates for the second time since mid-October. This move has been made to counter the country’s fastest-growing inflation rate in more than two years. Additional fiscal moves are expected as China is currently battling against various economic bubbles.In spite of Chinese officials’ efforts to curb real estate speculation, property pri

The Clean Air Act turned 40 this year, as did the Environmental Protection Agency, which was created to enforce that new law and others Congress adopted to reduce all types of pollution. But it has taken this many years for the EPA to begin flexing its regulatory muscles to reduce emissions of carbon dioxide, the principle culprit linked to climate change.For many years the agency claimed that the

North Korea has called for an end to confrontation with the South, urging inter-Korean dialogue and cooperation. In a joint New Year editorial issued on Saturday, the North Korean press said, “Confrontation between north and south should be defused as early as possible.” The editorial, considered Pyongyang’s New Year policy statement, also said, “Active efforts should be made to create an atmosphe

The Seoul Metropolitan Council has committed a serious violation of law in passing the capital city’s 2011 budget bill. No matter what the reason may have been, the council cannot avoid criticism for its undemocratic practice.The council, which is under the control of the main opposition Democratic Party, approved the municipal budget of 20.6 trillion won during a session held in the small hours o

Korea’s trade surplus reached a record $41.7 billion in 2010 as locally made products made solid inroads into overseas markets, a government report showed Saturday.The annual tally showed exports surging 28.6 percent on-year to $467.4 billion, with imports moving up 31.8 percent to $425.7 billion, the Ministry of Knowledge Economy said. The favorable trade balance for last year surpasses the previ

The global financial crisis has offered China a good opportunity to review its ability to manage its increasing national wealth. During the past three decades China has developed into the world’s largest foreign reserves holder and net capital exporter from a country that lacked reserves and foreign investment. The country has changed from being a debtor to become the world’s second largest credit

South Korea confirmed seven additional foot-and-mouth disease (FMD) outbreaks at beef and milk cattle farms and a pig farm in provincial areas on Sunday despite nationwide quarantine efforts to contain the spread of the highly contagious animal disease, central and provincial government officials said.The South Chungcheong provincial government said two milk cows at a farm in the central city of C

For better and for worse, Julian Assange pushes limits. In his work life and his sex life, he stands at the border dividing legal conduct from criminality, though it’s not clear which side of that border he occupies. U.S. officials are looking for a way to prosecute him for publishing secrets while women in Sweden say he crossed the line between consensual romps and rape. Mainstream journalists sa

Japanese politician Ichiro Ozawa describes himself as a mere ippeisotsu (foot soldier) in the ruling Democratic Party of Japan (DPJ), giving the innocuous term a whole new meaning.For despite what he claims, Ozawa is undoubtedly the most powerful politician in Japan today.No other politician in the country attracts as much attention or controversy ― not even Prime Minister Naoto Kan.Even though Oz