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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New Fifty Fifty off to strong start
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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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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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[Editorial] Extended slowdown
A local think tank has warned that South Korea will suffer deterioration of growth potential in the coming decade, predicting a 1 percentage point drop or more by 2030.The nation’s potential growth rate posted 3.2 percent per annum between 2011 and 2015. Hyundai Research Institute projected that the rate will continue to fall to 2.7 percent between 2016 and 2020, 2.3 percent between 2021 and 2025 and 2 percent between 2026 and 2030.Korea’s potential growth rate was 3.9 percent between 2006 and 2
EditorialAug. 8, 2016
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[Albert R. Hunt] Democrats are hoping for a wave
In 1980, Democratic pollster Peter Hart warned Gaylord Nelson, Wisconsin’s champion vote-getter as governor and senator, that he was going to lose. Hart saw a Republican wave coming. Ronald Reagan would defeat President Jimmy Carter and carry other GOP candidates to victory as well.The opposite of the wave effect in elections is the so-called Eisenhower jacket, a term coined by Democrats predicting that the immensely popular Ike wouldn’t have the coat-tails to help other Republicans down the bal
ViewpointsAug. 8, 2016
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[Joseph E. Stiglitz] Globalization and its new discontents
Fifteen years ago, I wrote a little book, entitled “Globalization and its Discontents,” describing growing opposition in the developing world to globalizing reforms. It seemed a mystery: People in developing countries had been told that globalization would increase overall well-being. So why had so many people become so hostile to it?Now, globalization’s opponents in the emerging markets and developing countries have been joined by tens of millions in the advanced countries. Opinion polls, inclu
ViewpointsAug. 8, 2016
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Seoul stocks hit yearly highs on positive U.S. jobs data
South Korean stocks rose to hit fresh yearly highs Monday as positive U.S. jobs data eased concerns about the pace of an economic slowdown. The Korean won gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 13.18 points, or 0.65 percent, to close at 2,031.12. Trade volume was slim at 266 million shares worth 4.09 trillion won (US$3.68 billion), with gainers outnumbering losers 420 to 387.Last Friday, fueled by stronger than expected job data, U.S. stocks set more
Aug. 8, 2016
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KBO players' association apologizes for match-fixing scandal
The umbrella group for South Korean professional baseball players on Monday apologized for a recent match-fixing scandal involving their members and pledged to come up with strict punishment for those who commit such wrongdoings.The Korea Professional Baseball Players Association said it feels responsible for the match-fixing scandal involving players in the Korea Baseball Organization that is still being investigated by the police. So far, three players -- Lee Tae-yang of the NC Dinos, outfield
BaseballAug. 8, 2016
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[Monitor] Top 10 chaebol take up half of stock market cap
Listed units of Korea’s top 10 conglomerates account for slightly over half of the country’s stock market capitalization, showed data by corporate tracker CEO Score last week. The 181 listed subsidiaries of the 10 largest family-controlled business groups had a combined market capitalization of 778.5 trillion won ($700 billion) as of end-July, or 51.2 percent of the value of all shares traded on the main bourse.
Aug. 8, 2016
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[Photo News] Graduation day
A senior education ministry official of the Malawian government presents a graduation certificate to a student who attended Green Light school operated by South Korean carmaker Kia Motors in Lilongwe, the capital of the southeastern African country, on Aug. 4. The graduation ceremony was held with Kia Motors officials attending during their week-long volunteer trip to the country last week. The carmaker operates Green Light projects to provide educational opportunities for children and their fam
MobilityAug. 8, 2016
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[Photo News] IOC chief visits Galaxy studio
International Olympic Committee chairman Thomas Bach (left) meets Samsung Electronics mobile device president Koh Dong-jin during his visit the company‘s Galaxy Studio in Rio de Janeiro, Brazil, on Saturday. (Samsung Electronics)
IndustryAug. 8, 2016
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PEF industry suffering from indigestion
In Korea’s young, yet fast-evolving private equity market, the road to investment exits is the weakest link, fraught with difficulties and a lack of valid options, said veteran lawyers who have witnessed the local industry’s very inception and rapid growth over the past decade. “By any measure, growth in private equity in Korea has been exponential -- the money committed, executed or the number of private equity houses registered,” Lee Haeng-gyu, a lawyer and partner at law firm Jipyong said in
Aug. 8, 2016
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Cathay Pacific appoints new country manager Korea
Cathay Pacific Airways said Monday it appointed James Conlin as the carrier‘s new country manager for South Korea.A graduate of Oxford, Conlin joined John Swire & Sons Ltd. in 2008 and served in various posts at the company’s Asia-based offices in China and Hong Kong, the company said in a statement. “I am happy to be located to Korea, which has a growing market,” Conlin said. “Korea is a strategically important country, so Cathay Pacific will provide various promotions and the best service poss
IndustryAug. 8, 2016
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U.S. antidumping tariffs may have limited impact on Korean steelmakers: analysts
Korean steelmakers will not suffer a direct impact from the U.S.’ antidumping tariffs, local analysts said Monday. The U.S Department of Commerce on Friday made a decision to impose nearly 60 percent of antidumping duties on hot-rolled flat steel exported by Korean companies. Korea’s largest steelmaker POSCO, which is also the country’s No. 1 steel exporter to the U.S., received a total of 57.04 percent in duties, including the subsidy rate and the dumping margin.Hyundai Steel received 13.38 per
IndustryAug. 8, 2016
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Hancom challenges Microsoft in office programs
If there is a South Korean word-processing developer that can take on the almighty Microsoft Word in the local market, it would be Hancom.The Kosdaq-listed Hancom is the only company here that develops the Korean word processor Hangul.And its presence continues to grow in the local word processing scene, especially after Hancom was exclusively selected by the Gyeonggi Provincial Office of Education last June as the lead provider of Office suite programs.Microsoft is clearly the leader and consum
Aug. 8, 2016
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Chinese smartphone-makers pose rising threat to Samsung
Samsung Electronics is facing competition from the Chinese companies Huawei, Oppo and Vivo, whose combined smartphone market share was 20 percent globally in the second quarter of this year, industry watchers said Monday.According to data from research firm IDC, Samsung Electronics, the world’s largest smartphone-maker, held a 22.4 percent share of the market and Apple’s share stood at 11.8 percent. Huawei took a 9.4 percent share, while Oppo had 6.6 percent and Vivo had 4.8 percent. When the ma
TechnologyAug. 8, 2016
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Scorching heat amplifies calls to reform Korea’s power rate system
Amid sweltering heat, South Korea’s electricity rates came under fire Monday, with a growing number of consumers lodging complaints against the system, saying they have been charged heavy bills calculated by an “outdated and unfair” cumulative scheme.According to legal sources, more than 2,000 people expressed their intentions to file complaints against the government-controlled Korea Electric Power Corp, demanding the return of money they paid for bills under the progressive billing system.Cons
IndustryAug. 8, 2016
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Two swimmers die at open water swimming
Two amateur swimmers who participated in a national open water swimming event off the southern coast of South Jeolla Province died during the event, police said. The Yeosu Coast Guard confirmed Sunday that a 64-year-old man surnamed Kang and a 44-year-old woman surnamed Cho were found dead while participating in a 1-kilometer swim hosted by the Yeosu Swimming League on the same day. (The Yeosu Coast Guard)After passing the halfway point, Kang passed out, and Cho followed suit five minutes later
Social AffairsAug. 8, 2016
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S&P raises Korea’s sovereign rating to ‘AA’
S&P Global Ratings announced on Monday it raised South Korea’s sovereign rating to “AA” from “AA-” with a “stable” long-term outlook, citing steady growth of the economy, improving external financial conditions and sufficient fiscal and monetary policy efforts. “The upgrade reflects our assessment that Korea‘s strong record of steady growth has generated a prosperous economy, greater fiscal and monetary flexibility, and continual improvements in external metrics,” S&P said in its report. “Althou
Aug. 8, 2016
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Samsung BioLogics to begin IPO process this week
Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday.The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under this timeline, Samsung BioLogics will likely complete its public listing by November as scheduled. Samsung BioLogics declined to comment on the potenti
TechnologyAug. 8, 2016
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Samsung SDS seeking to expand retail solution business
Samsung SDS, Samsung Group’s IT unit, is seeking to expand its overseas business after signing a deal to supply its latest innovative retail solution Nexshop to Samsung Electronics and other global businesses, company officials said Monday.According to the company, Nexshop helps companies enhance marketing and retail management, boosts employees’ sales capabilities, and maximizes promotion effects. Nexshop is being used in all mobile device shops run by Samsung Electronics across the world. Sams
IndustryAug. 8, 2016