The Korea Herald

[Newsmaker] KORAIL rapped for tardy response to crash

Sept 1, 2013

KORAIL, the nation’s state-run railway operator, is facing public criticism over its response to a train collision on Saturday. Two passenger trains collided near Daegu Station at 7:14 a.m. on Saturday, disrupting rail traffic between Seoul and Busan. A third train later crashed into the two stationary vehicles. The cause of the accident had yet to be confirmed as of Sunday afternoon. No one was seriously injured in the crash, but passengers on board the trains expressed outrage over what they
[Graphic News] Japan eyes defense budget increase

Sept 1, 2013

Japan’s Defense Ministry is looking for its biggest budget hike in two decades, partly to create a Marines-like force, as neighbors fret about Tokyo’s rising assertiveness.
S. Korea's exports grow 7.7 pct in Aug.

Sept 1, 2013

South Korea's trade surplus widened from a year earlier last month as the growth of its exports significantly outpaced that of its imports, the government said Sunday.In August, the country's outbound shipments came to about US$46.36 billion, up 7.7 percent from the same month last year, while its imports only inched up 0.8 percent on-year to some $41.45 billion, according to the Ministry of Trade, Industry and Energy.The country's trade surplus reached $4.91 billion, up from $2.75 billion in Au
Decisive role for Premier Nguyen Tan Dung

Aug 31, 2013

Vietnamese leader holds special influence over the future of this country’s economy
LGE signs sponsorship deal with German football club

Aug 30, 2013

South Korean tech giant LG Electronics Inc. said Friday that it has clinched a three-year sponsorship deal with German football club Bayer Leverkusen as part of its efforts to strengthen its sports marketing in Europe.Under the agreement, LG Electronics will be allowed to attach its corporate logos to the players’ jerseys and display its brand images on the walls of the team’s home stadium, the BayArena, said the company. The Leverkusen-based football club is one of the strongest teams in the Bu
Korea requests WTO settlement of U.S. duties against washers

Aug 30, 2013

The South Korean government said Thursday that it has requested the World Trade Organization to begin a settlement process for the United States’ punitive duties on South Korean washing machines.“The government has relayed its request for bilateral consultation under WTO’s dispute settlement understanding clause to the U.S. side through the U.S. mission in Geneva and to the WTO Secretariat,” the Ministry of Trade, Industry and Energy said in a press release.The move came after a request from Sou
Most bilingual pros saw salaries rise this year: report

Aug 29, 2013

More than 3 in 4 bilingual professionals in Korea saw their salaries rise this year, according to a global recruitment company specializing in finding senior-level bilingual officials for multinational companies.In its Employee Insights Survey 2013, Robert Walters Korea said that 75.4 percent of the respondents saw a salary rise this year, among which 18 percent received an increase of over 10 percent, officials said Thursday.Only 3.3 percent experienced a salary decrease and for 21.3 percent, t
Korean, Southeast Asian officials discuss REDD+ cooperation

Aug 29, 2013

High-level officials from Korea and four Southeast Asian countries discussed ways to cooperate in the so-called REDD+ projects aimed at reducing greenhouse gas emissions by preventing forest degradation and deforestation, officials said.The Korea Forest Service opened a two-day meeting with senior officials from Indonesia, Cambodia, Myanmar and Laos on Jejudo Island on Thursday.The focus of their discussion was on REDD+ activities and their positive effect on the mitigation of climate change, ac
KFS holds symposium on REDD+ projects

Aug 29, 2013

The Korea Forest Service hosted an international symposium in Seoul on Wednesday to discuss business on forest management to prevent deforestation and degradation. The one-day seminar was organized with the aim of providing opportunities with private companies and organizations to participate in the so-called overseas REDD+ projects. REDD+ is a climate change mitigation solution that many initiatives, including the U.N.-REDD Program, are currently developing and supporting.During the workshop, t
Korea seeks to assist forest management in developing countries

Aug 29, 2013

REDD+ schemes aim to reduce emissions from deforestation and forest degradation
Korea ranks 7th in H1 trade surplus among WTO members

Aug 28, 2013

South Korea has been ranked seventh in terms of trade surplus in the first half of the year among members of the World Trade Organization on the back of decreased imports, data showed Wednesday. According to the data by the Korea International Trade Association, the country’s exports rose 0.6 percent to $276.6 billion in the January-June period, with imports down 2.8 percent to $256.6 billion. The prolonged slump in domestic demand drove the country’s imports to fall, pushing up its trade surplu
Foreign ownership of land in Korea shrinks in Q2

Aug 28, 2013

The amount of South Korean land owned by foreign nationals dropped slightly from three months earlier in the second quarter, the government said Wednesday.The amount of land owned by foreign investors or companies came to 225.74 million square meters as of the end of June, down 0.42 percent from three months earlier, according to the Ministry of Land, Infrastructure and Transport.The land owned by foreigners accounted for 0.2 percent of South Korea’s total area with the estimated value of the la
CJ chief has successful kidney transplant

Aug 28, 2013

The chairman of South Korean food and entertainment conglomerate CJ Group, who had been arrested for massive slush funds, successfully underwent a five-hour kidney transplant surgery in Seoul Wednesday, the group said. Lee Jay-hyun has been taken to a recovery room of the Seoul National University Hospital in downtown Seoul after he had an operation to receive a kidney from his wife, CJ said.Lee had been behind bars since early last month under a court-issued arrest warrant pending trial on char
Korea needs to devise new energy plan: Chu

Aug 28, 2013

With the decline of primary energy sources, the world should now brace itself for the new energy technology era, said Steven Chu, former United States Secretary of Energy and Nobel laureate in physics.“Energy is no longer a birth right,” Chu said Wednesday in his keynote speech of Energy Tech Insight 2013, jointly hosted by the Ministry of Trade, Industry and Energy and the Korea Institute of Energy Technology Evaluation and Planning.This year’s forum, the fourth session of the annual series, wa
Top 30 firms to invest 155 trillion won in H2

Aug 28, 2013

South Korea’s 30 largest business groups plan to expand both their investment and employment in the second half in an apparent response to the government’s deregulation efforts, the government said Wednesday.For the entire year of 2013, the top 30 companies plan to invest a combined 155 trillion won ($138.8 billion), up 12.3 percent from 138 trillion won in 2012, according to the Ministry of Trade, Industry and Energy.The amount also represents a 4 percent increase from 148.8 trillion won planne