The Korea Herald

Steelers arrive ...in playful mood

More sportsFeb 1, 2011

FORT WORTH, Texas (AP)― Howdy, Hines. Welcome to Big D.Hines Ward was ready for a rodeo of a week leading up to the Super Bowl as he stepped off the Pittsburgh Steelers’ charter flight when the team arrived in Dallas.Pittsburgh’s star wide receiver, who embraces his reputation as one of the league’s most aggressive ― and some say, dirtiest ― players, was decked out in a big black cowboy hat, a bla
Two Koreas agree on Feb. 8 military talks

PoliticsFeb 1, 2011

The two Koreas have agreed to hold working-level military talks at the South-controlled Peace House in the inter-Korean border village of Panmunjeom on Feb. 8, Seoul’s Defense Ministry said Tuesday.The agreement to talk came after a string of proposals and counterproposals between the two sides. The North made a proposal last Saturday to hold the talks on Tuesday this week, which Seoul rejected, r
Jobless insurance claims decline

Social affairsFeb 1, 2011

The number of people seeking unemployment insurance claims has steadily declined for the past two months, possibly blueprinting a better job market for 2011, the Ministry of Employment and Labor said Tuesday. The number of new claimants for unemployment insurance stood at about 130,000 in January, down 6.5 percent from a year earlier. The figure was 82,000 in December, a 12.8 percent decrease from
Ex-official named Lee’s top aide for economic affairs

PoliticsFeb 1, 2011

President Lee Myung-bak on Tuesday named former chief of Statistics Korea Kim Dae-ki as his new top aide for economic affairs.Kim will succeed Choi Joong-kyung, who was appointed minister of knowledge economy last week.Having been in charge of financial management at the Ministry of Budget and Planning, which was later merged into the Ministry of Strategy and Finance, Kim became the chief of Stati
Rescued captain remains unconscious

PoliticsFeb 1, 2011

The captain of a rescued South Korean freight vessel is expected to spend the Lunar New Year holidays lying unconscious in a hospital bed, as his medical team said Tuesday he remains in a critical condition. South Korea’s 11,500-ton chemical freighter Samho Jewelry and its 21 crew members were rescued on Jan. 21 by the Navy days after it was seized in waters between Oman and India.All crewmen were
Foreign minister may add Libya to Mideast trip

PoliticsFeb 1, 2011

South Korea’s foreign minister will meet his counterparts in the United Arab Emirates and Algeria next week, during which he is also seeking to visit Libya to patch up a months-long diplomatic row, the ministry here said.“We are currently discussing the details with the Libyan government so that the minister can visit the country upon his trip to the Middle East,” a ministry official said, asking
Shin vows to tackle unemployment among young attorneys

PoliticsFeb 1, 2011

Shin Young-moo, a 65-year-old veteran lawyer whose election as chairperson of the Korean Bar Association was virtually predetermined, has vowed to tackle the unemployment issue facing new attorneys.“This year, the Judicial Research and Training Institute produced 1,000 new attorneys. Of the total, (nearly) 45 percent remain unemployed,” said Shin. “In the local legal market at crossroads, the live
Korea to have warmer spell during Seollal exodus

Social affairsFeb 1, 2011

Koreans all over the country are participating in the largest exodus of the year to spend the Lunar New Year holiday this week with loved ones, taking advantage of the mild temperatures.“I’m beyond the age of being excited about Seollal but it will be nice to see my relatives and we always have fun during the trip,” said Kwon Ji-won, a 26-year-old piano teacher in Seoul, headed for Gangneung, Gang
Diageo Korea offers dream-come-true Keep Walking event

IndustryFeb 1, 2011

Diageo Korea is staging a “dream contest” which enables people to follow unfulfilled lifelong goals that are unique enough to inspire others.Mark Edwards, marketing director for Diageo Korea, said the firm launched a global campaign here in November, accepting more than 1,400 applications for an event somewhat similar to other well-known local TV programs like Super Star K.“(What’s) similar is the
Hyundai E&C posts record sales in 2010

IndustryFeb 1, 2011

Hyundai Engineering & Construction Co., Korea’s largest builder, said Tuesday that it has posted record high sales last year of over 10 trillion won ($ 8.6 billion), up 7.8 percent from 2009, on strong overseas orders.Earnings rose 19 percent on-year to 544.8 billion won in 2010, the firm said, thanks to gains from equity investments. Operating profit surged 39.5 percent to 584.3 billion won.“Hyun
Overseas demand boosts carmakers’ sales in Jan.

IndustryFeb 1, 2011

All five local carmakers saw January sales increase from a year earlier on the back of strong demand from overseas markets, industry data showed Tuesday.Their total sales came to 626,806 vehicles, up 21.9 percent from 514,094 units sold in the same period last year.Their domestic sales grew 1.4 percent to 120,577 units and overseas sales, including exports, jumped 28.1 percent to 506,229 units.Kia
Kim of FSS tapped as CEO of Ex-Im Bank

Feb 1, 2011

Kim Yong-hwan, senior deputy governor of the Financial Supervisory Service, was recommended as president & CEO of the state-run Export-Import Bank of Korea on Tuesday.President Lee Myung-bak is expected to appoint Kim, who was recommended by the Ministry of Strategy and Finance, to the post soon. Kim Yong-hwanBorn in Boryeong, South Chungcheong Province, the 59-year-old nominee graduated from Sung
POSCO’s overseas project gains momentum

IndustryFeb 1, 2011

POSCO plans to inject about $12 billion into a project to construct a new plant and develop an iron ore mine in India, which received the green light from the Indian government on Monday after years of delay.India’s Ministry of Environment and Forests gave POSCO conditional approval to go ahead with buying up land for an integrated steelworks and to continue processes for its plans for iron ore ex
Consumer prices surge 4.1% in January

IndustryFeb 1, 2011

Inflation breaks BOK ceiling again, led by 30.2% jump in fresh food pricesKorean inflation accelerated for the second straight month in January, breaching the central bank’s 4 percent ceiling and adding to the case for another increase in borrowing costs. According to the report by Statistics Korea, the country’s consumer price index surged 4.1 percent last month from a year earlier, mainly due to
KORES bids for Mongolia coal mine

IndustryFeb 1, 2011

An international consortium led by Korea Resources Corp. recently submitted a bid to develop a coal mine lot in Mongolia, the state-run resources developer said Monday.The consortium of nine Korean, two Russian and four Japanese companies seeks to obtain the right to develop the Tavan Tolgoi mine. The region has one of the world’s largest untapped deposits of coal for making steel with around 1.2