Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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Over 82,000 Korean young people unemployed, not searching for job long-term
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[KH Explains] Can smart chargers ease tensions over EV fires?
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40% of Korea's workers who reported bullying faced retaliation: survey
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1 in 5 households to have breadwinner over 80 in 30 years
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New Fifty Fifty off to strong start
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Assembly to review disputed appointment of national soccer team coach
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[Weekender] Young Koreans more open to Japanese cultural products
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Evicted guest burns down inn; 3 killed
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Arrival of fall calls for more outdoor festivals
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S. Korea urges more global efforts against N. Korea's WMD financing
A top South Korean financial regulator on Tuesday called on the international community to intensify joint efforts to fight against North Korea's financing for its weapons of mass destruction program."The steady growth of WMDs has been threatening the whole world. We are facing an imminent nuclear threat from North Korea," Jeong Eun-bo, vice chairman of the Financial Services Commission, said in a speech at an annual workshop of the Asia Pacific Group on Money Laundering in Seoul."We must urgent
DefenseAug. 23, 2016
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Rooting out false rumors priority in THAAD deployment: intelligence commission
The South Korean parliamentary intelligence body on Tuesday said easing the public's health concerns over the deployment of a US missile defense system must take top priority, adding the government's move to choose an alternative spot cannot end protests.Earlier this week, South Korea said it will consider an alternative site for the Terminal High Altitude Area Defense system, as residents of Seongju, a southern county designated earlier to host the system, staged protests claiming the system ha
DefenseAug. 23, 2016
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Samsung, LG widen lead in global TV market
Samsung Electronics Co. and LG Electronics Inc., two major South Korean TV makers, increased their share of the global television market in the second quarter, widening their lead over Japanese and Chinese competitors, according to industry data on Tuesday.Samsung's share of the global TV market in terms of shipments rose to 22.2 percent for the April-June period, compared with 21.4 percent for the same quarter last year, data compiled by industry tracker IHS Inc. showed.LG's market share slight
TechnologyAug. 23, 2016
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Korea warns of Zika spread in Southeast Asia in H2
Mosquito-borne illnesses such as the Zika virus and dengue fever could increase in Southeast Asia in the second half of the year, South Korean health authorities said Tuesday.The Korea Centers for Disease Control and Prevention forecast that the viral diseases transmitted by mosquitoes could thrive in countries such as the Philippines and Vietnam starting in October when the rainy season begins.South Korea has so far confirmed 10 Zika virus cases, with three of the infected returning from the Ph
Social AffairsAug. 23, 2016
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Parliamentary speaker urges parties to overcome differences on THAAD
National Assembly Speaker Chung Sye-kyun on Tuesday said South Korean parties must overcome differences on the deployment of an advanced U.S. missile defense system in the country, adding the issue should not weigh on the unity of the political segment."Now is the moment to come up with a conclusion that overcomes ideologies and political tensions to minimize public division," Chung said. South Korean parties have been divided over the deployment of the Terminal High Altitude Area Defense in the
DefenseAug. 23, 2016
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Duty-free sales hit record high in July: data
Sales at South Korea's duty-free stores reached an all-time high in July thanks to a rising influx of Chinese travelers and last year's low base in the wake of the Middle East Respiratory Syndrome outbreak, data showed Tuesday. Sales at duty-free stores nationwide reached $954 million last month, up 4.1 percent from the previous month's $869 million, according to the data compiled by the Korea Duty Free Association. July sales marked the highest since the association began compiling related data
IndustryAug. 23, 2016
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Korean investors rush to safer bond funds
South Korean investors have been pouring a large amount of money into safer bond funds since July amid jitters over a possible US rate hike, with stock funds suffering a massive outflow, data showed Tuesday.According to the data by fund researcher Zeroin, local investors added a net 2.37 trillion won ($2.11 billion) into funds investing in domestic and overseas bonds between July 1 and last Friday.In contrast, a net 2.95 trillion won was withdrawn from investment funds reserved for local stocks
IndustryAug. 23, 2016
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NK leader obsessed with erasing executed uncle's legacy: source
North Korea's leader seems to be obsessed with erasing all remaining vestiges of his uncle Jang Song-thaek, who he executed in 2013 for treason, a source familiar with the North's affairs said Tuesday.The North's leader Kim Jong-un has reacted sensitively to anything related to Jang, ordering overseas restaurants' names to be changed and the dismantling of a folklore theme park in Pyongyang, according to the source.Kim has ordered his officials to change facilities named "Haedanghwa," which mean
North KoreaAug. 23, 2016
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Hyundai Heavy resolves drilling rig dispute with Norwegian customer
Hyundai Heavy Industries Co., a major South Korean shipbuilder, said Tuesday that it has reached an agreement with a Norwegian customer to end their dispute regarding the canceled order of an offshore drilling rig.Under the agreement, Hyundai Heavy will pay back US$176 million to Fred Olsen Energy ASA, in return for ownership of the Bollsta Dolphin semi-submersible drilling rig.The dispute dates back to May 2012 when Hyundai Heavy won a $620 million deal from Fred Olsen, which called for the shi
IndustryAug. 23, 2016
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Korean athletes depart for Rio Paralympics
South Korea's main delegation for the Rio de Janeiro Paralympics departed Tuesday as they begin the quest for a solid performance at the quadrennial competition.Eighty athletes from seven sports -- swimming, archery, judo, tennis, rowing, table tennis and athletics -- flew to Atlanta where their training camp is based. They will train in the US city about a week before landing in Brazil.This is the first time that the South Korean Paralympic delegation will have an overseas training camp before
Olympic GamesAug. 23, 2016
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Korean shares open slightly higher on auto gains
South Korean shares opened slightly higher on Tuesday, rebounding from a sharp drop in the previous session.The benchmark Korea Composite Stock Price Index gained 3.63 points, or 0.18 percent, to 2,045.79 in the first 15 minutes of trading.On Monday, the index lost 14.08 points, or 0.68 percent, to close at 2,042.16.Large caps traded mixed with most tech shares in negative terrain.Market bellwether Samsung Electronics shed 0.12 percent, while global chipmaker SK hynix remained flat at 36,000 won
MobilityAug. 23, 2016
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Korea, Ecuador to hold 3rd round of talks for trade deal
South Korea and Ecuador will hold the third round of talks to discuss ways to boost economic and investment exchanges, the trade ministry here said Tuesday.The negotiations on the strategic economic cooperation agreement, a type of free trade pact, will be held in the Ecuadorian capital of Quito starting Monday (local time) and run through Friday, according to the Ministry of Trade, Industry and Energy.Officials from the two countries will discuss various trade issues involving manufactured good
IndustryAug. 23, 2016
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Golfer Park In-bee returns home with Olympic gold
Olympic golf champion Park In-bee returned home to South Korea to a hero's welcome on Tuesday. Park was crowned the first Olympic women's golf champion in 116 years, with a comfortable five-shot victory over the world No. 1 Lydia Ko in Rio de Janeiro on Saturday. The victory made Park the only golfer, male or female, with an Olympic gold and a career grand slam -- which entails winning four different majors at least once."In Korean time, I played the game early in the morning," Park said after s
Olympic GamesAug. 23, 2016
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Korea to host int'l fest on world's oldest metal-type book
An international festival on the world's oldest extant book printed with movable metal type will kick off in Cheongju in September to shed new light on its creative value, bringing together world-renowned writers and scholars, organizers said Tuesday.The Jikji Korea Festival will open Sept. 1 in the central South Korean city, some 130 kilometers south of Seoul, for an eight-day run under the theme of "Jikji, Enlightening the World," with the main venues including the Cheongju Arts Hall and the C
CultureAug. 23, 2016
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Insurers' assets jump in H1 amid weak earnings
Insurance companies in South Korea saw their assets surge more than 10 percent on-year in the first half of 2016, but life insurers suffered a plunge in earnings due mainly to increased insurance payments, data showed Tuesday.The combined assets of the country's 25 life and 32 nonlife insurance firms came to 1,002.2 trillion won ($890 billion) as of the end of June, up 10.9 percent from a year earlier, according to the data by the Financial Supervisory Service. It marks the first time for their
Aug. 23, 2016
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Korea recoups 66.5% of bailout funds: FSC
The South Korean government recouped 436.4 billion won ($389 million) of bailout funds, mostly used to help ailing financial firms during the 1997-98 Asian financial crisis, in the second quarter of 2016, the nation's top financial regulator said Tuesday.The retrieval of taxpayers' money came largely from dividends from bailed-out firms, according to the Financial Services Commission.The government spent a total of 168.7 trillion won to bail out financial firms and help stabilize the financial s
Aug. 23, 2016