The Korea Herald

POSCO steps up resources development

IndustryJan 27, 2011

Steelmaker boosts magnesium capabilities in its diversification driveAs magnesium alloys emerge as next-generation material for vehicles, POSCO, the world’s fourth-largest steelmaker, is betting on the metal to fuel the next stage of its drive to become an all-round materials developer.While the market for magnesium alloys remains relatively small, such materials have become key candidates for use
Ex-military band drummer soldiers on

PeopleJan 27, 2011

First-generation jazz percussionist talks about the music genre in KoreaHolding a small bongo, Ryu Bok-sung commands the stage instantly. His performance outshines the brass instruments in front of him, and sweeps the audience off their feet.Ryu is Korea’s a first-generation jazz percussionist who has devoted 54 years to the discipline. Now 72, he continues a to lead a life of jazz. The Bible says
Late songwriter remembered in pop musical

TheaterJan 27, 2011

‘Gwanghwamun Younga’ features songs by Lee Young-hoon, whose work is enjoying a revivalLate composer Lee Young-hoon, known for working with ballad singer Lee Moon-sae for more than 20 years, will have his dream posthumously fulfilled in the upcoming musical “Gwanghwamun Younga.” Actors cast for the musical “Gwanghwamun Younga” at a press call in Seoul on Monday. From left are Yoon Do-hyun, Song Ch
Korea aims to leave on high note

SoccerJan 27, 2011

Park, Lee hint at retirement from national squadSouth Korean manager Cho Kwang-rae has stressed he is determined to keep his squad to playing their best football on Friday night against Uzbekistan, despite a heartbreaking loss to Japan only three days earlier in the Asian Cup semifinals.Cho was left crestfallen after watching his side lose 3-0 to its archrival in a penalty shootout, following a 2-
Seoul steps back on apology from N. Korea

PoliticsJan 27, 2011

South Korea has said this week it will not link an apology from North Korea for last year’s attacks with resuming multinational disarmament talks, taking a step toward making peace with its nuclear-armed rival. The change of attitude could lead to early resumption of the six-nation talks aimed at North Korea’s denuclearization, an issue that has sparked a months-long tug of war among regional powe
Army send-off held for 350 troops bound for Lebanon

DefenseJan 27, 2011

South Korea’s Army held a send-off ceremony Thursday for 350 troops set to depart for Lebanon to replace its military contingent serving as U.N. peacekeepers in the Middle East nation. The “Dongmyeong” (East Light) unit has been stationed in Lebanon since 2007 as part of the U.N. interim forces’ efforts to oversee a cease-fire and set up a buffer zone between Lebanon and Israel.About 1,200 people
GNP to push for constitutional revision committee

PoliticsJan 27, 2011

The ruling party will push to organize a special legislative committee for a constitutional amendment during next month’s extraordinary parliamentary session, its floor leader said Thursday, a move aimed at putting the sensitive issue to an open public debate.The Grand National Party’s internal discussion about revising the Constitution to allow the president to seek re-election has recently gaine
Lee installs new minister despite opposition protest

PoliticsJan 27, 2011

Overriding the main opposition party’s strong resistance, President Lee Myung-bak on Thursday pressed ahead with the appointment of his new knowledge economy minister.Lee gave the letter of appointment to Choi Joong-kyung, a long-time financial bureaucrat, following a month of heated partisan strife over whether he is qualified for the post handling the government’s export and corporate policy.Cho
Business sentiment turns negative for Feb.

Jan 27, 2011

Korea’s business sentiment for February turned negative for the first time in 17 months amid rising prices of imported raw materials and signs of rate hikes, a poll showed Thursday.The Business Survey Index (BSI) for February came in at 98.0, compared with 101.4 in January, according to the Federation of Korean Industries, the largest industry lobby in Korea.The BSI reading has stayed above 100 si
Creditors to pick Korea Express managers

Jan 27, 2011

The state-run Korea Development Bank, main creditor of Korea Express, said Thursday that it will pick two arrangers next month to find a new owner for the country’s top logistics company.Creditors are seeking to sell over 35 percent of their total 47.9 percent stake in Korea Express, held by Daewoo Engineering & Construction Co. and Asiana Airlines Inc., the airline unit of liquidity-squeezed Kumh
Seoul shares up on global recovery hopes

Jan 27, 2011

Korean stocks closed 0.22 percent higher on Thursday as investor sentiment was lifted by the U.S. Federal Reserve’s vow to keep its bond-buying program to support an economic recovery, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 4.55 points to 2,115.01, the fourth straight session of gains.Trading volume was moderate at 347.
China-bound Korean investment drops in 2010

Jan 27, 2011

The portion of Korea’s direct investment in China shrank last year amid intensifying competition from other global companies in the world’s second-largest and fastest-growing economy, a report said Thursday.In the first nine months of 2010, the proportion of foreign direct investment made by Korean firms in China dropped to 2 percent from 2.7 percent in 2009, according to the report from the Korea
Per-capita rice consumption lowest in 2010

Jan 27, 2011

Korea’s per-capita annual consumption of rice declined to a record low last year as a growing number of people chose other food alternatives for their daily meals, a report showed Thursday.Rice consumption per person in the household sector here came to 72.8 kilograms last year, down from 74 kilograms the previous year, according to Statistics Korea. The figure was the lowest since related data st
Bottled water imports hit record high

Jan 27, 2011

Korea’s imports of bottled water jumped to a record high last year as demand grew for premium brands from European countries, the nation’s customs office said Thursday.Korea imported a record $7.9 million worth of bottled water last year, up 19 percent from a year earlier. The import figures have grown an annual average of 23 percent over the past five years, according to the report by the Korean
EU passes safeguard act for Korea FTA

Jan 27, 2011

BRUSSELS (Yonhap News) ― The European Parliament’s trade committee passed an enactment bill that outlines the use of trade safeguards once a free trade agreement with Korea goes into effect, local sources said Wednesday.Parliamentary insiders said the Committee on International Trade passed the bilateral safeguard act with no objections raised by those taking part in the vote.A safeguard arrangeme