The Korea Herald

Sony apologizes for J-pop band’s Nazi garb

MusicMar 3, 2011

TOKYO (AFP) ― Sony Music apologized on Wednesday for the Nazi-style uniforms worn by a Japanese pop band under its management in an MTV broadcast that triggered a protest from a U.S.-based Jewish rights group. The Simon Wiesenthal Center in Los Angeles had voiced its “shock and dismay” at the appearance of the six-member J-Pop band Kishidan in SS-style uniforms with Nazi insignia such as the Iro...
GRE offered more frequently

Social affairsMar 3, 2011

The Graduate Record Examinations, the most widely accepted set of tests adopted by graduate schools, will now be offered up to twice every month in Korea, saving students a flight to Japan. Starting this August, a revised format of the GRE will be offered once or twice every month here in the form of computer-based testing, according to the Educational Testing Services and the Ministry of Scienc...
SNU mulls in-house human rights panel

Social affairsMar 3, 2011

Move follows dismissal of professor for abusing students Seoul National University is considering establishing an in-house human rights watchdog to monitor abuses within the community including violence, corruption and embezzlement. Students will be encouraged to inform the school of their professors’ irregularities under a tight witness protection system and violence among students will be tho...
Making the most of educational investment

ViewpointsMar 3, 2011

Korean college system needs market forces The following was contributed by Daniel E. Suh, professor of economics and finance, Graduate Program for Technology and Innovation Management, Pohang University of Science and Technology (POSTECH). ― Ed. In the first class of my investment course, I always toss out a question to my students: Have they ever made any investments? For a moment, the class ...
Hynix seeks delay of patent trial

Mar 3, 2011

Hynix Semiconductor Inc., Micron Technology Inc. and Nanya Technology Corp. asked a federal judge in California to delay a patent-infringement trial scheduled for May 2 over claims brought by Rambus Inc. Jared Bobrow, a lawyer representing the memory-chip makers, said in a letter Wednesday to U.S. District Judge Ronald M. Whyte in San Jose, California, that the trial should be taken “off calenda...
Korea to spend W9b on renewable energy projects

IndustryMar 3, 2011

The government will set up a 9 billion won ($7.8 million) fund this year to assist local firms’ clean energy projects overseas. The government’s latest move is part of the country’s efforts to make $40 billion from exports related to renewable energy such as photovoltaic and wind power by 2015. “The global renewable energy market is projected to be highly prospective, and thus will likely push ...
Korean, Japanese firms to buy Brazilian rare metal miner

IndustryMar 3, 2011

The National Pension Service and POSCO will acquire 5 percent stakes in a Brazilian producer of a rare earth metal used in steel, oil pipes and automotive components, they said on Thursday. They will each invest 400 billion won ($356 million) to acquire 5 percent of Brazil’s Companhia Brasileira de Metalurgia e Mineracao, the world’s largest producer of the scarce mineral niobium. CBMM controls...
Korean airlines plan massive recruitment

IndustryMar 3, 2011

The country’s air carriers are planning to recruit the highest-ever number of new employees this year, thanks to their record-breaking earnings reached in 2010. Korean Air is expected to hire up to 2,700 new workers, including flight attendants, pilots and technicians, in 2011. The nation’s No. 1 local airline employed 2,300 new hires last year and 2,050 new employees in 2009. Asiana Airlines,...
Businesses declare energy emergency

IndustryMar 3, 2011

Korea’s business community declared an “energy emergency” Thursday, pledging to implement energy conservation measures to help the country cope with high-flying oil prices. The resource-poor country relies almost entirely on imports for its oil needs, with 82 percent being imported from the Middle East. In a meeting with Knowledge Economy Minister Choi Joong-kyung in Seoul, business leaders fro...
Industrial output rises faster than expected

Mar 3, 2011

Experts remain cautious due to oil prices, external uncertainties Korea’s industrial output grew faster than expected in January on strong overseas demand, with semiconductor and auto makers leading the way, official figures showed Thursday. But the government remained cautious about future economic trends, citing higher oil prices and other external factors that might serve as a drag on recove...
Foreigners turn to big net stock sellers

Mar 3, 2011

Foreign investors swung to massive net selling of Korean stocks in February as mounting inflation threats and political uprisings in Arab countries put a damper on sentiment, the financial regulator said Thursday. Foreigners pulled 3.7 trillion won ($3.3 billion) of Korean shares out of the local bourse last month, compared with net buying worth 1.4 trillion in January, the Financial Supervisory...
Korea urges 3-way FTA with Japan, China

Mar 3, 2011

Korea needs to sign a three-way free trade deal with Japan and China in a bid to boost prosperity in Asia and better prepare for external shocks, a senior finance ministry official said Thursday. “Economic integration should be pursued to help the East Asian countries flexibly deal with global uncertainties and realize their co-prosperity in this region,” Vice Finance Minister Yim Jong-yong told...
Middle East unrest could push oil over $140: Roubini

World BusinessMar 3, 2011

Nouriel Roubini, an economist who predicted the credit-market collapse, said an expansion of troubles in the Mideast could push oil prices as high as $140 to $150 per barrel, triggering a double-dip recession in parts of Europe. “If troubles spread to other countries such as Bahrain and Saudi Arabia, this could push oil prices up to $140 to $150 per barrel, which could trigger a double-dip reces...
Portugal to get EU rescue this month

World BusinessMar 3, 2011

Portugal will accept a financial bailout “within the next few weeks” as the cost of issuing debt becomes unsustainable, said Axa Investment Managers, which oversees $714 billion in assets. “The borrowing costs are just too high” for Portugal, Christopher Iggo, London-based chief investment officer for fixed income at Axa, France’s fourth-largest fund manager, said in a telephone interview two da...
Booyoung chairman donates center to SNU

PeopleMar 3, 2011

Booyoung Group Chairman Lee Joong-keun has pledged to make a donation for the construction of a social contribution center on Seoul National University campus, the university said Wednesday. The 10 billion won in construction costs will be fully covered by the donation, and the university has decided to name the building the Woojung Global Social Contribution Center after Lee’s pen name, Woojung...