...e in the adoption of a huge austerity budget as the eurozone debt crisis savaged confidence. Milan’s main index, the FTSE MIB, fell steadily through the day and closed down 3.06 percent at 17.885,74 ...urope ― are struggling under the weight of the debt crisis in spite of news Friday that the country’s top five had passed the European Banking Authority’s stress tests. UniCredit closed down 6.45 per...

NEW YORK (AP) ― Gold’s reputation as a safe place for your money sent it above $1,600 for the first time. Investors are worried about debt problems on both sides of the Atlantic. So they bid gold up...that the U.S. won’t default and that the 27-nation European Union won’t be threatened by the region’s debt problems. “I wish this was all about the man on the street, pension funds, but it’s not,” Na...

Choi Jong-seok, son of former President Choi Kyu-hah, has been picked to head Korea Investment Corp., officials said. The country’s sovereign wealth fund and Ministry of Strategy and Finance have reviewed four applicants for the post and selected Choi, former chief executive of Allianz Global Investors Korea Ltd. and former vice president of Hana Bank. Choi, 60, will replace Chin Young-wook, wh...

...hich Lee serves as president, and The Korean Senior Citizens Association. About 13 models decked in some 30 court hanbok from the Joseon Dynasty (1392-1910), hanbok made of “mosi” or ramie, and 2011 S/S Paris Haute Couture collection will strut down the runways set on the plains and high up on the islet’s hills. The court costumes are to emphasize Korea’s dignity of having secured Dokdo long ago. ...

...to serve as the engine that pushes in new knowledge in a program that supports young entrepreneurs,” said Ko, who studied nuclear engineering and mathematics as an undergraduate and earned his master’s degree in cognitive science. Ko had been selected as the final candidate in Korea’s bid to produce its first astronaut through a Russian astronaut training program in 2008, but was abruptly replaced a month ahead of the flight into space on accusations that he stole a classified ma...

...ram over the next three months ― until the end of September, just prior to the arrival of this year’s harvest. This aid represents a much delayed response to an initial request for humanitarian assist...early crops this year. The Lee Myung-bak administration in Seoul, which had been testing Pyongyang’s resolve over Seoul’s self-selected Northern Limit Line as a maritime boundary since it took office...

... young people who belong to the soft generation are those who have been nurtured under their mother’s overprotective care, and thus have never been exposed to the harsh reality. Suppose there is a war...ys.” The article also disclosed another discouraging piece of news: when asked to name South Korea’s jujeok (primary enemy), 687 responders pointed to Japan and 307 students chose the United States; ...

It ain’t necessarily so. That’s what New York University economics professor William Easterly essentially says about crediting “benevolent autocrats” like South Korea’s Park Chung-hee for high growth...her immediately or within a short time after an autocrat dies suddenly or is assassinated, and that’s without a successor waiting-in-the-wings (in South Korea’s case, after a short dip, the economy to...