Most Popular
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Over 82,000 Korean young people unemployed, not searching for job long-term
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40% of Korea's workers who reported bullying faced retaliation: survey
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600 evacuated as heavy rain floods roads, homes in southern regions
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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[Weekender] Young Koreans more open to Japanese cultural products
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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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Jeju's solo traveler-friendly spots offer solitude as well as camaraderie
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Doctors defend colleague accused of blacklisting non-strikers
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Daewoo Shipbuilding swings to loss in Q2
Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder, said Tuesday that it returned to the red in the second quarter of the year from three months earlier, largely thanks to increased costs.Net loss came to 1.22 trillion won ($1.12 billion) in the April-June period, compared with a profit of 31.4 billion won in the previous quarter, the company said in a regulatory filing.Second-quarter operating loss came to 424 billion won, widening from an operating loss of 26.3 bill
Aug. 16, 2016
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Volkswagen Korea executive to be summoned this week
State prosecutors said Tuesday the managing director of Volkswagen Korea will be summoned later this week to be questioned over allegations the German automaker fabricated emissions results here. The Seoul Central District Prosecutors' Office said it will summon Volkswagen Korea Managing Director Thomas Kuehl on Thursday to gain reference over allegations the carmaker illegally changed parts of the Golf 1.4 TSI to obtain approval from the local government between 2014 and 2015.Kuehl has been in
IndustryAug. 16, 2016
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Park reshuffles Cabinet, keeps disputed aide
President Park Geun-hye on Tuesday carried out a partial Cabinet reshuffle, replacing three ministers and four vice-ministerial officials, to tighten her grip on state affairs during the remaining 18 months of her term.But the personnel list drew a sour response from political circles. They cited the president’s apparent partiality for close aides, and the failure to dismiss a senior presidential secretary accused of irregularities.Cho Yoon-sun, former minister of gender equality and president s
PoliticsAug. 16, 2016
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[Editorial] Rally’s continuation
The US’ three major stock price indexes including the Dow Jones industrial average reached an all-time high last week in the wake of brisk operating performances of major US businesses.The noteworthy American rally is fueling expectations that the Korea’s benchmark Kospi -- which is also a bull market -- could break through the physiological barrier of 2,100 points in the coming weeks.The Kospi, which peaked at 2,104.41 on July 3, 2015, has ranged between 1,830 and 2,030 over the past year. But
EditorialAug. 16, 2016
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[Editorial] Eleventh in GDP ranking
South Korea regained its position as the world’s 11th-largest economy in 2015. Its gross domestic product ranking had peaked at 11th place in 2006 but dropped to 13th in 2007 and 15th in 2008. It was 14th from 2009 to 2013 and 13th in 2014. However, the higher ranking is not that meaningful as the country’s competitors face unusual economic situations.Russia (10th in 2014) and Australia (12th in 2014) suffered slowdowns in due to the big drop in raw materials prices, one of their main growth en
EditorialAug. 16, 2016
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[Kim Seong-kon]Koreans refuse to take no for an answer
People who visit their hometown to spend time with their parents during the holidays in Korea are likely to experience one thing in common: your mother’s persistent attempt to feed you. Here is what usually happens. As soon as you arrive home, your mother approaches you with a dish or fruit and a direct order to eat it. You decline, saying, “Thanks, Mom. But I’m good.” But your mother never gives up. She tenaciously insists, “You should eat this. It’s delicious.” You decline it again, saying, “I
ViewpointsAug. 16, 2016
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Seoul shares fall on reduced foreign buys, weak Chinese markets
South Korean stocks trimmed earlier gains to end flat due to reduced foreign buying and poor-performing Chinese stocks. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 2.71 points, or 0.13 percent, to 2,047.76.The main index fell after marking a 1.61 percent increase for the whole of last week. On Friday, it closed at 2,050.47 points, hitting fresh yearly highs.Kim Ye-eun, an analyst at LIG Investment & Securities, said the local stocks fel
Aug. 16, 2016
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Hanwha chairman’s sons in succession race
Hanwha Group’s succession race is underway with all of chairman Kim Seung-youn’s three sons involved in the group’s key businesses. Kim’s eldest son and heir-apparent Dong-kwan, 33, is chief commercial officer for the group’s solar power unit Hanwha Q Cells while his younger brothers Dong-won, 31, and Dong-seon, 27, are working for Hanwha Life and Hanwha Engineering & Construction respectively. Kim Dong-kwan, chief commercial officer of Hanwha Q Cell (Hanwha Group)Industry watchers predict that
IndustryAug. 16, 2016
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Thailand paying high price for its unresolved crises
Thai tourism businesses are bracing for the economic fallout from the bomb attacks that killed four and injured dozens of people, including foreign visitors in the seaside resorts Hua Hin and Phuket, two of the country’s major tourist destinations.Eleven small bombs were detonated across seven southern provinces on Thursday night and Friday morning in unprecedented attacks that appeared to have required serious planning and some degree of professionalism.Authorities said the bombs were similar t
ViewpointsAug. 16, 2016
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[Dick Meyer] Is real political leadership still possible?
Donald Trump is perhaps the most widely condemned public figure to hit the spotlight in years. He has been indicted as unfit, unstable, crazy, immoral, narcissistic, greedy, cruel, racist and dangerous by all the best -- the president, ex-presidents, Republicans, politicians, generals, intellectuals, billionaires and the Pope.Yet Trump’s campaign to be president enjoys the support of something like 40 percent of all voters, according to the polls. One wonders what level or volume of public vilif
ViewpointsAug. 16, 2016
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[Robert J. Fouser] The boom in “city walks”
In the history of South Korean urbanism, the 2010s will most likely go down as the decade of city walks, or “dapsa.” Aided by social media in the early years of the decade, groups of citizens formed walking groups that explored old neighborhoods in Seoul. Local governments joined in and began to sponsor walks and train leaders for the groups. Most events are on Saturdays and many alternate between city walks and mountain climbing.What caused the boom in city walks and what does it mean? Several
ViewpointsAug. 16, 2016
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Four firms apply for gov't approval for fast-track corporate restructuring
Four South Korean companies applied for government approval on Tuesday to become the first beneficiary of the newly established law aimed at facilitating voluntary corporate restructuring, the trade ministry here said.The Special Act on the Corporate Revitalization, dubbed "one-shot act," came into effect on Saturday to help businesses carry out an intra-corporate merger and spin-off through simplified procedures including exemptions from the strict antitrust laws and financial market regulation
IndustryAug. 16, 2016
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[Harlan Coben] A crowd-pleaser’s theory of Donald Trump
Think Donald Trump has some grand scheme behind his outbursts? Think his rhetoric is carefully thought out to produce a certain reaction? Think he meticulously plans each call for his followers to take up arms? Sorry, no. There is no strategy here, folks. Sadly, this is the part of Trump I get too well. I do a lot of public speaking, and when I do, I try to gauge the audience because I love a reaction. Like any entertainer -- and that’s what an author tries to be on book tour -- I like to hear
ViewpointsAug. 16, 2016