The Korea Herald

U.S. charges gunman in lawmaker shooting

InternationalJan 10, 2011

Suspect claims he planned attack alone; prosecutors charge five countsTUCSON, Arizona (AFP) ― U.S. prosecutors Sunday charged a lone young gunman over the attempted assassination of a congresswoman as doctors voiced guarded hope she would recover from the attack that killed six others.President Barack Obama called on Americans to observe a moment of silence on Monday for victims of the attack in A
Crimes up but arrests down in 2010

Social affairsJan 10, 2011

The number of violent crimes went up here last year, with arrests going down, compared to previous years, according to police officials Monday.The data from the National Police Agency showed the number of violent crimes, including assault and robbery, increased by 10 percent to 579,751 last year from the five-year average from 2005 to 2009.Rape went up 28 percent, theft by 25 percent and murder by
Military service to benefit jobseekers

Social affairsJan 10, 2011

As early as April, people who have served in the military will get extra credits when they apply for jobs in public sectors, the Ministry of National Defense said Monday. The measure is expected to benefit mainly men, who spend 21 to 24 months in military camps as their compulsory military duty. However, the plan is likely to trigger resistance from women’s rights groups and others who claim the e
KEB union files injunction to block Hana’s deal with Lone Star

Jan 10, 2011

The labor union of Korea Exchange Bank filed a court injunction Monday to block U.S.-based Lone Star Funds’ plan to sell its controlling state in the bank to Hana Financial Group. In its filing with Seoul Central Court, the unionized workers called for KEB executives named by Lone Star, including bank CEO Larry Klane, to suspend the scheduled share selling.Lone Star signed a contract with Hana Fin
Eco-friendly crude ship built by Hyundai

IndustryJan 10, 2011

Hyundai Heavy Industries has delivered the world’s first crude oil carrier fitted with equipment for treating ballast water, the firm announced Monday. Empty vessels are balanced by ballast water, which is then emptied out when cargo is loaded at ports. This practice can transport non-indigenous organisms to waters across the world, damaging foreign ecosystems.With the International Maritime Organ
GS Group to invest W2.2tr, aim for W55tr sales

IndustryJan 10, 2011

Energy, retail giant plans to hire 2,800 new employeesGS Group plans to increase its investments 10 percent to more than 2.2 trillion won ($1.9 billion) this year to strengthen its core businesses of energy, retail and construction and expand overseas activities. Korea’s seventh largest business group said on Monday it aims to post 55 trillion won in sales, up 5.7 percent from last year. “While fo
Korea to tighten inspection of capital flows

Jan 10, 2011

Korea’s financial regulator said it plans to tighten inspections of capital flows this year to improve the soundness of its foreign-currency market.“There are persisting destabilizing factors in the global financial markets following the Group of 20 meeting, such as volatile capital movements and currency wars among major countries,” the Financial Supervisory Service said Monday in an e-mailed sta
Multinational drug makers bet on young CEOs

IndustryJan 10, 2011

Multinational drug companies are installing young and aggressive leaders to head their Korean operations in an increasingly competitive local market. Ranga Welaratne, 38, was appointed on Jan. 3 as the new head of the Korean branch of Sanofi-Pasteur, Sanofi-Aventis group’s vaccine division, becoming the latest CEO in their 30s to 40s to lead a multinational pharmaceutical firms’ Korean branch. Hav
Conglomerates sign up for Yeosu Expo facilities

IndustryJan 10, 2011

Seven conglomerates including Samsung Group, Hyundai Motors Group, and SK Group signed up to participate in the 2012 World Expo in Yeosu, its organizing committee said.Other participating business groups include LG, Lotte, Posco and GS. The fact that leading local conglomerates decided to participate in the Yeosu Expo shows that expectations for the event are very high, organizers said. The expo i
Shinsegae store tops W1tr in turnover

IndustryJan 10, 2011

Shinsegae Department Store announced Monday that its Gangnam branch became Korea’s second retail outlet to surpass the threshold of 1 trillion won ($894.1 million) in sales last year. The branch store in southern Seoul registered 1.09 trillion won in revenue, about 18 percent up from 920 billion won in 2009, the company said.Korea’s retail industry is estimated to have grown 7-8 percent in 2010 as
Korea Express eyes W2.35tr in sales

IndustryJan 10, 2011

Korea Express Co., Korea’s largest logistics firm, said Monday that it is seeking to post 2.35 trillion won ($2.09 billion) in sales this year, up around 10 percent from last year.The company is also targeting an operating income of 157 billion won in 2011.Last year, Korea Express was estimated to have logged an operating income of 130 billion won on sales of 2.16 trillion won.Major shareholders o
Samsung to reveal new phones, tablets in Feb.

Jan 10, 2011

Electronics bellwether aims to sell 60 million smartphones this yearLAS VEGAS ― Samsung Electronics plans to unveil in February its next generation of smartphones running on an upgraded operating system and a dual core processorThe new phones to be revealed at the Mobile World Congress will run on the Gingerbread operating system ― an upgraded Android platform ― with a super AMOLED plus display fo
Boy bands performing in pairs to generate heat in 2011

MusicJan 10, 2011

Expect a fierce rivalry on the Korean music scene this year, as top boy bands are ready to make a comeback.Until now, the Korean music channels were mostly dominated by popular girl groups or singers like the Girls Generation, but this year the boys are expected to take the lead. Even before the release of their albums, the long-waited returns of TVXQ and Big Bang have generated heat among K-Pop f
Verizon may sell 12 million iPhones

WorldJan 10, 2011

Verizon Wireless, the largest U.S. mobile-phone company, will sell 9 million to 12 million iPhones this year, the Wall Street Journal reported, citing analyst estimates. The lower number would boost Apple Inc.’s overall sales by 5 percent, according to Gene Munster, an analyst at Piper Jaffray Cos., the Journal said. The iPhone may capture 5 percent of Verizon’s customers in its first quarter on s
Samsung chairman Lee celebrates 70th birthday

PeopleJan 10, 2011

After wrapping up a hectic itinerary of the Consumer Electronics Show in Las Vegas last week, all family members of Samsung Electronics chairman Lee Kun-hee got together at the Silla Hotel on Sunday.The event was to celebrate his 70th birthday. All his family members and some 130 senior executives of Samsung subsidiaries attended his birthday party. It is the first time for him to invite senior ex