The Korea Herald

Over 8 million jobs taken by 50s or older

May 12, 2011

The number of employed people over 50 has exceeded 8 million for the first time, reflecting an older workforce brought on by Korea’s fast-aging society. Statistics Korea said Thursday that the numbe...
Safdie bids for Incheon Airport terminal No. 2

May 12, 2011

Famed architect Moshe Safdie on Thursday said his team aimed to incorporate elements unique to Korean culture in his design bid for a second terminal at Incheon International Airport. Addressing rep...
Real interest rates below zero percent

May 11, 2011

Real interest has stayed below inflation for the past year, devaluing returns on bond investments and deposits at banks, a government report said Wednesday. The interest rate on 1-year savings produ...
36% of recent college graduates out of work

May 11, 2011

The number of unemployed fresh college graduates increased by 0.2 percent in April from a year earlier despite a drop in the overall jobless rate, Statistics Korea said Wednesday. Some 63.6 percent ...
Ex-FSS, BOK officials on troubled banks’ payrolls

May 9, 2011

Data shows practice leads to collusion between lenders and watchdog One in three savings banks suspended in the last decade had hired former officials from the financial watchdog or the central bank...
Mega Mini is fun in traffic, seriously cool

TransportMay 8, 2011

The 2011 Mini Cooper S Countryman is a big Mini. Big, of course, is relative in this case, but this new four-door’s size rankles purists, who point to the name of the brand itself. You can’t have a s...
Bigger now better in fuel efficiency race

TransportMay 8, 2011

With Hyundai and Kia releasing gasoline-hybrid electric vehicles, you might want to consider something bigger than a compact model. Mid-sized cars can be just as fuel efficient. No compact cars were...
Korea to cut collusion in financial sector

May 6, 2011

The administration and the National Assembly have begun in earnest to reform the nation’s top financial watchdog, to cut its long-held collusive ties with financial companies it supervises. Assessin...
Finance chiefs vow to bolster regional safety net

May 4, 2011

Korea, China, Japan agree to double regional emergency liquidity fund Finance ministers of South Korea, Japan and China on Wednesday vowed to strengthen the crisis prevention function of the current...
Seoul pushes benefit sharing for mutual growth

May 3, 2011

New scheme suggested as alternative to controversial ‘profit-sharing’ plan The government will encourage big businesses to share the benefits of cost reduction and technology development with their ...
Inflation slows on price control, fresh food supply

May 2, 2011

Consumer prices rise 4.2 percent on-year in April Inflation in April slowed to 4.2 percent on-year, down from a 29-month high of 4.7 percent a month earlier on Seoul’s price controls and lower fresh...
Package of tax, loan supports set for builders

IndustryMay 1, 2011

Investors will also get tax benefits The government said Sunday it would extend tax benefits to real estate investors in the Seoul metropolitan area and widen financial support for local builders as...
Paralyzed Nonghyup banking system normalized

May 1, 2011

The nation’s largest banking network at Nonghyup has been normalized since Saturday after weeks of paralysis, which prosecutors suspect was caused by a cyber attack from North Korea. South Korea’s p...
FSS to claw back insider savings bank withdrawals

April 28, 2011

The nation’s top financial watchdog said Wednesday that it will retrieve deposits withdrawn improperly at Busan Savings Bank right before the agency suspended its businesses. The Financial Superviso...
Bioethics body approves first embryonic stem cell test

ScienceApril 27, 2011

A clinical test using embryonic stem cells was approved for the first time in Korea on Wednesday. The National Bioethics Committee said it had approved CHA Bio & Diostech’s request to conduct a cli...