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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[KH Explains] Can smart chargers ease tensions over EV fires?
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[Weekender] Young Koreans more open to Japanese cultural products
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New Fifty Fifty off to strong start
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1 in 5 households to have breadwinner over 80 in 30 years
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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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[Graphic News] Budget for 2017 set to exceed W400tr
South Korea’s national budget for next year is expected to exceed 400 trillion won ($362 billion) for the first time, as the government plans to spend more to generate jobs as well as tackle the low birthrate and rapidly aging population. As the government and the ruling Saenuri party have recently agreed to raise the 2017 budget by 3 to 4 percent, the annual budget is likely be around 398 trillion won to 402 trillion won next year, according to government officials.This year, the government’s o
Aug. 15, 2016
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CCF to invite global leading culture figures to Korea
An international cultural forum will bring together the world’s creative opinion leaders to experience Korean culture and discuss cultural strengths in September. The Culture Communication Forum, organized by the Corea Image Communications Institute, will be held from Sept. 4-6 in Seoul. It will invite 18 cultural figures from around the world, including Russian publisher Irina Prokhorova of “New Literary Observer,” New Zealand musician Tama Waipara, Spanish writer and anthropologist Javier Mo
CultureAug. 15, 2016
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[Whitt Flora] Let nations compete to host Olympics
It would be very wrong to diminish the majesty and international scope of the Olympic Games by, as some are suggesting, anchoring them in Greece or on permanent sites on five continents.The seemingly endless problems with this year’s Rio Games have prompted calls to stop having nations compete to host the contests and hold them instead in permanent facilities in North and South America, Europe, Asia and Africa.This would be a serious mistake. It would deprive nations of a chance to show national
ViewpointsAug. 15, 2016
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[Herald Review] Weezer, Panic! at the Disco electrify Pentaport Rock Fest
Despite the scorching heat wave that has swept across the nation, thousands of music fanatics flocked to the Penta Park in Incheon to partake in one of the country’s time-honored summer traditions -- the Incheon Pentaport Rock Festival. This year’s three-day festivities kicked things up a notch with some big-time heavy hitters including the alternative punk icons Weezer, Panic! at the Disco, Two Door Cinema Club, Suede and Group Love. The 11th annual festival kicked off Friday with the sounds
PerformanceAug. 15, 2016
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[Robert B. Reich] Biggest threat to American sovereignty
“Without a border, we just don’t have a country,” Donald Trump says repeatedly. For him, the biggest threats to American sovereignty are three-dimensional items that cross our borders, such as unwanted imports and undocumented immigrants.He’s wrong. The biggest threats to American sovereignty are invisible digital dollars wired into U.S. election campaigns from abroad.Yet Trump seems to welcome foreign influence over our democracy.Sovereignty is mainly about a government’s capacity to govern. A
ViewpointsAug. 15, 2016
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[Michel Forst] Development should do no harm
International financial institutions, including the World Bank Group, the European Bank for Reconstruction and Development, and other regional development and investment banks, have increasingly emphasized the importance of participation, good governance, and accountability in the countries where they disburse funds. Added scrutiny from these institutions is welcome, because development finance can be a powerful tool for safeguarding human rights, so long as the communities it most affects have
ViewpointsAug. 15, 2016
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[Andrew Sheng] Why do Chinese think differently?
We live in an age of science and technology, so strictly speaking science should be able to forecast the future and help us make decisions better. But in this age of uncertainty, the best economic models did not predict the global financial crisis. How did the ancients attempt to make better decisions? They relied on history, their own experience or oracles, astrology or mumbo jumbo. In a situation of uncertainty, you make decisions on the basis of information that you have, and if don’t hav
ViewpointsAug. 15, 2016
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Getting from here to Brexit
Nobody said quitting the European Union would be easy. U.K. Prime Minister Theresa May has declared that “Brexit means Brexit,” but Britain still hasn’t decided what it wants. There’s not much clarity in the rest of the EU either. As a Bloomberg survey of officials across the union makes clear, its 27 other members have their own ideas about how they want Brexit to play out and where to draw red lines.This process is going to take time -- longer than the two years the Article 50 exit process pro
ViewpointsAug. 15, 2016
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Half of Korean workers exempted from paying taxes
The main opposition party fueled debate on changing the taxation system early this month by proposing to raise taxes for big corporations and high income earners.The proposal by the Minjoo Party of Korea was met with an immediate objection from Finance Ministry officials, who had left tax rates unchanged in a draft tax code revision disclosed days earlier.The party’s chief policymaker said he was ready to engage in a heated debate with the government on the direction of taxation overhaul in the
Aug. 15, 2016
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[Editorial] Unprotected data
The Korea Communications Commission has imposed 180 million won ($163,000) in fines on Lotte Homeshopping for selling the personal information of its customers to other companies.But the fines were too small compared to the revenue Lotte earned through the sale of customer data. The home shopping channel earned 3.7 billion won between 2009 and 2014 by selling 3.24 million pieces of customer data to insurance companies.The fines were small because they were levied for a fraction of the personal i
EditorialAug. 15, 2016
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[Editorial] Cash allowances
Disputes are escalating between the central government and the Seoul Metropolitan Government over the provision of cash allowances to job seekers. The row was ignited by the city government’s scheme to provide 3,000 young job seekers with 500,000 won ($450) a month for up to six months.The central government opposed the plan, calling it a typical populist program. It argued that the scheme could not be seen as an employment promotion program as it allowed the recipients to use the allowances for
EditorialAug. 15, 2016
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Dokdo Research Institute works to raise youth awareness
Japan’s claims over the Dokdo Islets in the East Sea have long created tension with South Korea, but this has not stopped researchers here from collecting relevant data about the disputed islets. Hong Seong-Kun, director of Dokdo Research Institute at Northeast Asian History Foundation, told the Korea Herald he has been working to spread awareness about the islets, especially among young people.“It’s important for us to think of ways on how to say ‘Dokdo Islets are Korea’s,’ as Japan continues t
Foreign AffairsAug. 15, 2016
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[DECODED] Hanwha beefs up under Kim Seung-youn
When Hanwha Group announced in late 2014 a 1.9 trillion won ($1.72 billion) deal to buy four assets from Samsung Group, the market sensed the return of Kim Seung-youn, the group’s deal-loving boss who had stayed away from corporate affairs since his conviction of breach of trust two years ago. The deal, hailed by media as a win-win solution for both sides, was the most fitting comeback for the tycoon whose more than three-decade reign at the group saw its transformation from a gunpowder producer
IndustryAug. 15, 2016
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Lawmakers visit Dokdo on Liberation Day
Lawmakers from major parties visited Korea’s easternmost Dokdo Islets on Monday to mark the 71st anniversary of the nation’s liberation from Japanese rule (1910-1945).Ten lawmakers landed on the Dokdo Islets by helicopter at around 8 a.m. for a tour. They met with the coast guard stationed there as well as civic groups. It was the first such trip by Korean lawmakers since 2013 when a group of politicians visited the Dokdo Islets to counter Japan’s territorial claims to it. “(The visit) is a part
PoliticsAug. 15, 2016
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[KOSDAQ Star] Strong Japanese partner to defend YG from THAAD risk
Big Bang, Psy, 2NE1, iKON, Akdong Musician -- these are just a few of the performing artists under YG Entertainment run by Yang Hyun-seok, an influential producer of K-pop and a former member of Korea’s first hip-hop group Seo Taeji and the Boys. Established in 1998, YG Entertainment went public on the KOSDAQ in 2011. In the same year, the company created the joint venture YGEX with AVEX, one of the biggest entertainment businesses in Japan.The company’s market value is traded at 34,150 won ($30
Aug. 15, 2016
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South Koreans work more, earn less: OECD report
South Koreans worked the second most hours, but earned less than average compared to other countries last year, an Organization for Economic Cooperation and Development report showed Monday. Out of the 35 OECD member countries, a South Korean laborer worked 2,113 hours on average last year, 347 hours more than the OECD average of 1,766 hours. This amounted to 43 extra working days, considering eight working hours per day based on the law here. According to prices and purchasing power parities, d
Social AffairsAug. 15, 2016
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[NEWSMAKER] South Korea hit by abnormal heat wave
Seoul has seen the most heat wave days this summer since 1994, while southern port city Busan has recorded its highest temperature in more than a century, according to the state weather agency.Over the weekend, Seoul continued to see daily high temperatures of around 33 degrees Celsius that began last week and daily lows of over 25 degrees Celsius, according to the Korea Meteorological Agency.The temperature soared to 37.3 degrees Celsius in Busan on Sunday, a record high since 1904. Its morning
Social AffairsAug. 15, 2016
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Korean makers to face tough global DRAM competition in 2018: reports
Leading global DRAM-makers -- Samsung Electronics and SK hynix -- may face tough competition from 2018 as the mass production of Chinese chipmakers is predicted to raise oversupply concerns, according to industry reports. According to the latest report from market research firm IC Insights, the average selling price of DRAM, or dynamic random access memory, chips is expected to rise through the end of this year and into 2017 due to growing demand for enterprise systems -- for the use of “big dat
TechnologyAug. 15, 2016
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[FEATURE] DNA test reunites Korean adoptee with birth mother
Kyung Eun Davidson’s earliest memories are of missing her birth mother. Born in 1983 in South Korea, she grew up in Oregon after being adopted by a couple in the U.S. in 1986. Ever since she was 3, Davidson would constantly daydream about her birth mother throughout her childhood.“I remember wishing every night she would come back,” the 33-year-old, who currently lives in Everett, Washington, told The Korea Herald. “I’ve never remembered a time that I did not miss her and want to be with her. My
Social AffairsAug. 15, 2016
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Samsung Securities eyes Indian investment through ETNs
Samsung Securities, the brokerage firm of Samsung Group, said that it listed three types of Samsung India Nifty50 Futures Exchange-Traded Notes on the stock market earlier this month to make it easy for customers to invest in India. Introduced on Aug. 4, the financial derivatives are Korea’s first ETN investment in the Indian market, the securities house said. A model promotes Samsung India Nifty50 Futures Exchange-Traded Notes. (Samsung Securities)According to the brokerage, customers can set
Aug. 15, 2016