The Korea Herald

N. Korea may soon launch cyberattacks in earnest: U.S. firm

North KoreaJul 6, 2011

WASHINGTON (Yonhap News) ― North Korea or unidentified forces aligned with the communist nation may be preparing for full-fledged cyber-terrorism against South Korea or the United States, based on its “test” attacks in 2009 and earlier this year, a U.S. Internet security firm said Tuesday. In a special report, McAfee Inc. said North Korea or its “sympathizers” seem to have been responsible for t...
Readers’ VOICE

Jul 6, 2011

On food aid... Food is a basic human need with water, shelter, education and primary health care. It is a prerequisite for health -- the most important component of human resource development. Food security is now listed among the social determinants of health which is clearly a determinant of HRD - life, dignity, civil society, progress, justice and sustainable development. As an awakened acad...
Should food aid to N.K. be resumed?

Jul 6, 2011

Divisions over aid Ever since President Lee Myung-bak suspended food aid to North Korea upon taking office in 2008, the question of its resumption has been highly contentious. Lee ended the shipments of rice that had taken place under his liberal predecessors with the insistence that aid be tied to denuclearization by the North. The sinking of the Cheonan last March and the attack on Yeonpyeong ...
We can’t say where the aid will end up

Social affairsJul 6, 2011

We can’t say where the aid will end up By Kim Yong-soon There have been many voices heard from both in and outside of the South Korean government advocating the resumption of aid to North Korea. The debate between the doves and the hawks has raged on ever since the peninsula was divided in 1945. This is an overly politicized issue in our domestic society of which I have no inclination of adding...
It is a matter of responsibility, pragmatism

Social affairsJul 6, 2011

It is a matter of responsibility, pragmatism By Rudiger Frank Food aid to North Korea is a costly endeavor; food needs to be harvested, stored, packed, delivered and distributed. We can therefore assume that it is provided for a reason; or actually, a wide range thereof. From a humanitarian perspective, food is to feed the hungry. From the perspective of South Korean farmers, deliveries of rice...
Koo urges LGE to take the right path

Jul 6, 2011

Koo Bon-joon, vice chairman and CEO of LG Electronics, on Wednesday stressed the need for employees to take the “right path,” indicating he would be cracking down on corruption. “We will be dealing strictly with any violation or corruption to set an example,” Koo said in an emailed message. The chief executive lamented that since he created his email account on May 1, asking for employees to di...
Ssangyong launches new Chairman W

Jul 6, 2011

Ssangyong Motor unveiled the new Chairman W in the local market more than three years after it launched the Chairman W in February 2008. At a press conference in Seoul on Wednesday, the carmaker pledged to closely compete with global automakers in sales of premium luxury sedans. The sedans’ prices range between 57 million won ($53,200) and 107 million won, approximately equivalent to the Equus ...
Korea, Indonesia to meet on FTA this week

Jul 6, 2011

Korea and Indonesia will hold the first round of feasibility study talks on a bilateral free trade deal this week, the Trade Ministry in Seoul said Wednesday. In 2007, a free trade agreement between South Korea and the Association of Southeast Asian Nations, which includes Indonesia, went into effect. But Seoul has been seeking to forge higher-level separate free trade deals with Indonesia, Mala...
Korean auto exports hit record in H1

Jul 6, 2011

Korea’s automotive exports reached a record high in the first half of the year as local automakers increased their shares in overseas markets on the back of improved quality, a trade association said Wednesday. According to the Korea Automobile Manufacturers Association, local automakers exported a total of 1.55 million units in the first six months of the year, up 15.1 percent from a year earli...
Hyundai Heavy says it will not bid for Hynix

Jul 6, 2011

Hyundai Heavy Industries Co., the world’s leading shipbuilder, said Wednesday it will not bid for a stake in Hynix Semiconductor Inc., raising speculation that creditors may fail again to sell the world’s second-largest computer memory chipmaker. Hyundai Heavy had been regarded as the sole potential investor for the 15 percent stake up for sale. “We decided not to submit a bid for Hynix Semicon...
Samsung forecast to log lower Q2 profit on weak panels, TVs

Jul 6, 2011

Samsung Electronics Co. will likely report lower-than-expected earnings for the second quarter, hit by flagging demand for TVs and slumping display prices, analysts said Wednesday. Samsung, Asia’s largest maker of smartphones, TVs, chips and display panels, is estimated to have earned 3.35 trillion won ($3.14 billion) in the April-June period, compared with 4.28 trillion won a year earlier, acco...
Banks, brokerages face limited impact from Korea-EU FTA

Jul 6, 2011

Korea’s financial industry is to face limited impact from the Free Trade Agreement with the European Union as there are few barriers in market access. On the other hand, the insurance industry is expected to benefit from the overall increase of trade. The Korea-EU FTA, which took effect July 1, is pushing banks, insurance companies, asset managers and other financial institutions in both economi...
Hana Financial defends lending to Lone Star

Jul 6, 2011

Hana says regulators issued no edict against loan Hana Financial Group has refuted criticism that it issued loans to Lone Star Funds, the biggest shareholder of Korea Exchange Bank, in defiance of regulators’ instruction. A Hana official denied the speculation that “the financial group made a lending totaling 1.5 trillion won ($1.4 billion) despite tackling not to do it from the financial autho...
NPS fund managers accused of selling favors to ex-colleagues

Jul 6, 2011

The National Pension Service, the world’s largest public pension, is under fire for its alleged lack of supervision of its staff operating a huge fund after the nation’s top auditor found irregularities. The Board of Audit and Inspection said some NPS officials were found to have given business favors to brokerages with school background ties in exchange for entertainment and money. The public ...
KT expands campaign for mutual growth with vendors

IndustryJul 6, 2011

KT Corp., the nation’s largest fixed-line carrier, on Wednesday offered support and encouragement for its vendors at a forum it held for IT sector executives. KT said it would provide up to 1,000 free patents to its partner firms to help them offer better quality services and products to consumers. Those who receive licenses or other technological support from KT would be given more opportuniti...