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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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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[Lee Jae-min] No more gifts and no more lunches
Come Sept. 28, Korea will see a drastic change (for the first time) in how people socialize and interact with government officials. Having survived the most recent challenge at the Constitutional Court, the controversial Kim Young-ran Law is set to enter into force on that day. This anti-corruption law is an ambitious legislation, ready to impose criminal punishment on government officials who respond to outside requests for favors or receive gifts or monetary equivalents from others. Unlike the
ViewpointsAug. 9, 2016
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Plan to install government app on Galaxy Note 7 faces backlash
A plan by Samsung Electronics to add a mobile application created and distributed by the Korean government to its new Galaxy Note phablet sparked a backlash from the main opposition party and civic groups, which called it an attempt to use technology as a propaganda tool. According to local reports quoting sources in the tech industry, Samsung Electronics has recently decided to include the government app service, named Government 3.0, on the list of apps to be installed automatically on the Gal
TechnologyAug. 9, 2016
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[Kim Seong-kon] Time bombs ticking in our society
The world is not normal these days. Something has gone terribly wrong on planet Earth. Recently, the United Kingdom shocked the world by voting in favor of Brexit and the U.S. is displaying leanings that are a throwback to the isolationism of the 19th century.Even though this might only be the result of the vitriolic rhetoric of a presidential candidate and the die has not been cast yet, I have a hunch that there is a consensus among many Americans on this. American isolationism is disappointing
ViewpointsAug. 9, 2016
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Korea vulnerable to Japan-style recession: IMF director
South Korea may face a protracted recession like that in Japan partly due to demographics, a Korea-born economist with the International Monetary Fund warned Tuesday."There is a possibility that South Korea will be exposed to a lengthy (economic) slump, just as Japan (did), for structural problems in population," Rhee Chang-yong, director of the IMF's Asia and Pacific department, told reporters here after a forum hosted by the Korean Economic Association.He pointed to the decline in the populati
Aug. 9, 2016
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Gamevil releases new mobile action game
Korean mobile game publisher Gamevil has released its latest role-playing action game for users worldwide via the Apple app store and Google Play, the company said Tuesday.“Masquerade: The Faceless” is an action game featuring characters who have lost their faces while fighting in a war with villains. Characters can enhance their quest capabilities by upgrading their masks, the publisher explained.Gamevil’s new game targets a global audience, having received positive feedback from a closed beta
IndustryAug. 9, 2016
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Hyundai Heavy bags order to build 2 large oil carriers
Hyundai Heavy Industries Co., a major shipyard, has secured an order from a Greek shipping company to build two very large crude carriers, or VLCCs, industry sources said Tuesday.The Korean shipbuilder clinched the deal, the first of its kind this year, the sources, estimating its value at US$180 million. The ships will be delivered during the first half of 2018, the sources said.South Korean shipbuilders have been under severe financial strain since the 2008 global economic crisis that sent new
IndustryAug. 9, 2016
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Strengthening won worsens woes of Korean exporters
Economic policymakers here are keeping a watchful eye on the recent rise in the value of the won against the dollar, which they worry will be a further drag on the country’s declining exports.Vice Finance Minister Choi Sang-mok suggested last week that if necessary, the government would take market-stabilizing measures against sharp currency swings.“We are concerned that the won is appreciating at a particularly fast pace, while the U.S. dollar has been weakening for weeks,” he said.The Korean c
Aug. 9, 2016
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[Photo News] Best TV in Russia
Song Dae-hyun (second from left), executive vice president and CEO of LG Electronics‘ Russia operation holds a letter of recommendation by a local media Hi-tech.mail that selected LG Signature OLED TV as the most recommendable product in the TV category this year. (LG Electronics)
TechnologyAug. 9, 2016
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Korea won’t change electricity charging scheme
South Korea’s Ministry of Trade, Industry and Energy said Tuesday that it is not considering changes to its electricity charging scheme for households, despite litigations against the state’s “unfair and excessive” billing amid the scorching summer heat.The government said that it would need social consensus before it can actually change the scheme, which it added was developed in favor of the low-income group.“This would need social consensus given that there are a variety of opinions on this s
Aug. 9, 2016
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KB Kookmin Card offers summer deals
Korea’s leading credit card issuer KB Kookmin Card is offering diverse benefits to its customers this summer, the firm said last week.The special offers under the firm’s 2016 Wish Festival Summer include discounts on tickets to 27 water parks and summer resorts in Korea such as Caribbean Bay and Ocean World. KB Kookmin card holders will enjoy up to 40 percent discounts. Models hold a placard to celebrate KB Kookmin Card’s summer promotions under the firm’s 2016 Wish Festival Summer (KB Kookmin
IndustryAug. 9, 2016
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[Photo News] Public statement on extra budget
Finance Minister Yoo Il-ho (center) and other economic policymakers attend a news conference to make a public statement on the government’s extra budget spending in Seoul on Tuesday. (Yonhap)
Aug. 9, 2016
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Lantus biosimilar developed by Merck, Samsung Bioepis under U.S. FDA review
The U.S. Food and Drug Administration has accepted for review a new Lantus biosimilar developed by U.S.-based Merck Sharp & Dohme with partial funding from Samsung Bioepis, MSD said last Friday.MSD’s biosimilar drug MK-1293 references Lantus, an insulin-based diabetes treatment originally developed by Sanofi. Samsung Bioepis has contributed to MK-1293’s development as an investment partner to MSD.A Samsung Bioepis employee (Samsung Bioepis)MK-1293 is already undergoing a marketing authorization
IndustryAug. 9, 2016
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Injected Botox floats around neurons
A research team in the U.S. proved that Botulinum toxin, often injected for medical purposes, moves around neurons, raising safety concerns, according to Science Daily Tuesday. The University of Wisconsin’s research team extracted nerve tissues from rats and placed the extracts in a microfluidic device for observation, said Science Daily, adding that the team witnessed and caught on camera the toxin floating around neurons. The result raises concerns as the toxin could reach the central nervous
IndustryAug. 9, 2016
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Samsung likely to spend more on chips than rivals in H2
Samsung Electronics is expected to spend more on facility investment than its rivals in the second half of this year to maintain its dominance in the 3-D NAND flash segment, amid heated rivalry in the global semiconductor market. According to market research firm IC Insights, Samsung is predicted to increase its capital expenditure by 120 percent in the July-December period from $3.4 billion in the previous half to $7.5 billion. The research firm had earlier forecast that Samsung would spend abo
TechnologyAug. 9, 2016
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Hyundai should boost EVs for China, analysts say
Korean automakers should push EV cars in China amid declining sales in the world’s largest car market, analysts said on Tuesday. The combined market share of Korean carmakers in China -- namely Hyundai Motor and Kia Motors -- declined to 7.3 percent in the first half of this year from 9 percent in 2014, while Chinese makers saw their share surge to more than 42 percent. Industry watchers said Korean automakers may further lose its share in the mid- to long-term in China if they fail to gain the
MobilityAug. 9, 2016
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Lube base oil business becoming crucial for local oil refiners
More and more Korean oil refiners are eyeing the lube base oil business as a potential cash cow, despite its current small proportion of the entire business. “The lube base oil business has recently been a cash cow as the high value added market expanded globally. (The production of the lube base oil) is also nearly limited to oil refiners as it is made from by-products of refined oils,” said an official from SK Innovation. The firm became the world’s first to start commercial mass production of
IndustryAug. 9, 2016