Molly Holt helps celebrate 50-years of adoption agency’s Ilsan centerILSAN ― She’s known by many names, from the Mother Teresa of Korea to the Mother of all Korea’s Orphans ― and 55 years on she is still living up to them. Molly Holt, chairwoman of Holt Children’s Services, was not only a witness to the nation’s rise from the ashes of the Korean War. Because of her selfless heart, she was knee deep in it. “I kept on delaying my college, because there was so much to do here, so much poverty, so m

Toyota Motor Corp.’s recovery is proving tougher than anticipated.Already poised to lose its crown as the world’s largest carmaker this year, Toyota yesterday cut its profit forecast by more than half after Thailand’s worst floods in almost 70 years disrupted output of Camry and Prius vehicles. While the rebound at rival Nissan Motor Co. accelerates, Asia’s largest automaker has lost four times more production in the floods.“It’s acts of God after other acts of God,” Jody Lurie, an analyst at Ja

WASHINGTON (AFP) ― Standard & Poor’s on Friday warned a swathe of European insurers that they could face a credit downgrade as a result of the continent’s fiscal crisis.Allianz, Aviva, Axa, Generali and Mapfre were among 15 firms warned by the U.S.-based ratings agency.S&P said the “creditwatch” was related to an earlier warning on the ratings of 15 of the 17 countries of the eurozone.S&P’s warning on Monday threatened a one-notch cut to the hallowed “AAA” ratings of Germany, the Netherlands, Fi

Lender pushes reform of compensation system, name change, manpower restructuringSC First Bank, the Korean unit of the London-based financial group Standard Chartered, will drop the “First” from its name starting next year. The bank’s name was a result of the British firm’s 2005 acquisition of Korea First Bank, established in 1929.Last week, a new signboard reading “Standard Chartered” appeared on its head office in Jongno, Seoul. Its nationwide branches are also replacing their signboards.For S

The Korea-America Good Neighbors Society celebrated the end of the year with the annual dinner for U.S. soldiers in Korea with exemplary service records Friday.KAGNS was founded in 2005 to strengthen relations with U.S. forces and to help U.S. military personnel to better understand Korea.The 63 soldiers honored at the event were selected from different branches of the armed forces for outstanding service in Korea. The selected service men and women were also taken on a two-day skiing trip.Digni