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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40% of Korea's workers who reported bullying faced retaliation: survey
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[KH Explains] Can smart chargers ease tensions over EV fires?
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600 evacuated as heavy rain floods roads, homes in southern regions
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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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[Weekender] Young Koreans more open to Japanese cultural products
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Evicted guest burns down inn; 3 killed
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Jeju's solo traveler-friendly spots offer solitude as well as camaraderie
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South Korea opens center to support trade, investment in Iran
South Korea opened a business center on Monday to help local firms expand trade and investment in Iran as part of its efforts to tap deeper into the Middle East country following the lifting of international sanctions, the trade ministry here said.Located in southern Seoul, the center will provide information and consulting services on trade and investment with Iran, backed by related government agencies including the Korea Trade-Investment Promotion Agency, state-run Woori Bank and the Industri
Aug. 8, 2016
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Samsung's iris-reading Note 7 draws attention worldwide
The new Galaxy Note phablet by Samsung Electronics Co. is drawing attention worldwide with its iris-scanning feature that allows a user to unlock the smartphone in the blink of an eye. Samsung unveiled the phablet, the successor to the Note 5, in New York earlier this week in a bid to keep up the momentum of its smartphone sales after widening its lead over Apple Inc. in the global smartphone market this year. The launch of the Galaxy Note 7 came ahead of the latest iPhone launch, expected in th
TechnologyAug. 8, 2016
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South Korea signs agreement for cooperation in Thai water project
South Korea and Thailand agreed Monday to jointly check the feasibility of Thailand's planned water management project, a move that could also lead to Seoul's participation in the project valued at 680 billion won (US$609 million), the Seoul government said.Under a memorandum of intent signed Monday, South Korea will help review the technical feasibility of the two-stage water management project, according to the Ministry of Land, Infrastructure and Transport.The project mainly seeks to build fl
InternationalAug. 8, 2016
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Insurance complaints drop 7.7% in H1
South Korean consumers' complaints of insurance companies fell more than 7 percent in the first half of 2016 from a year earlier, industry data showed Monday, on the back of efforts to better protect policyholders.The country's 24 life insurance companies and 16 nonlife insurers received a combined 33,343 consumer complaints in the January-June period, down 7.7 percent from a year earlier.Complaints against life insurers sank 13.3 percent on-year in the first half, with those against nonlife ins
Aug. 8, 2016
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Samsung BioLogics set to start IPO process this week
Samsung BioLogics Co., a biosimilar firm affiliated with Samsung Group, will apply for preliminary approval this week for its initial public offering, estimated at around 3 trillion won (US$2.68 billion), South Korea's bourse said Monday.The firm, one of the world's largest manufacturers of biosimilar medicine, plans to submit its IPO application on Thursday, according to the Korea Exchange.It is seeking to be listed on the main Korea Composite Stock Price Index market within this year.It would
IndustryAug. 8, 2016
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Nexen Heroes owner summoned over fraud, embezzlement allegations
The owner of the South Korean baseball club Nexen Heroes was summoned by prosecutors Monday over allegations of fraud and embezzlement.Lee Chang-suk, 50, appeared before the Seoul Central District Prosecutors' Office as a suspect as another business executive claimed that he did not get his stake of the ball club that Lee had promised in return for 2 billion won (US$1.7 million)."I will fully cooperate with the prosecution's investigation," he told reporters before entering the prosecutors' offi
IndustryAug. 8, 2016
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More people prefer small apartments in Seoul: data
Nearly half of new apartment units in Seoul are smaller than 60 square meters, industry data showed Monday, reflecting the trend that more people prefer smaller housing.Of 15,980 apartment complexes built between January and August of this year, 45.1 percent, or 7,205 units, have a total floor area of under 60 square meters, compared to 26.1 percent in 2000, according to the data by Real Estate 114, a real estate information provider. A typical home for South Koreans is an 82 square-meter or 109
Social AffairsAug. 8, 2016
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Park congratulates South Korean women’s archery team on winning gold medal
President Park Geun-hye on Monday congratulated three South Korean archers for winning the gold medal in the women’s team competition at the Rio de Janeiro Olympics on Sunday, saying the country's eighth consecutive win in the event is an "honorable record” that will go down in history.Park Hae-mook/The Korea Herald"The eight consecutive win that the women’s archery team, which stayed focused till the end, clinched is an honorable record that will go down in history," the chief executive said in
Olympic GamesAug. 8, 2016
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Six opposition lawmakers leave for China to discuss THAAD
A group of lawmakers from the main opposition Minjoo Party of Korea visited China on Monday for talks with Chinese officials and scholars over the planned deployment of an advanced U.S. anti-missile system to South Korea, a major thorn in the relations between Seoul and Beijing.The six first-term MPK lawmakers brushed off intense opposition from the presidential office, ruling party and even those within their own party ranks who warned their visit would worsen the division among South Koreans o
Foreign AffairsAug. 8, 2016
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Anti-graft law to have mixed impact on industries
South Korea's controversial anti-graft law governing free meals and gifts is expected to have a negative impact on department stores, while coming as a boon to discounters, convenience stores and food makers, sources said Monday.Slated to go into effect on Sept. 28, the Kim Young-ran anti-graft law named after a former head of the Anti-Corruption and Civil Rights Commission is designed to bring more transparency among public officials, journalists and private school faculty. The law makes it ill
IndustryAug. 8, 2016
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Sales of OEM vehicles plunge in July
Vehicles produced in other countries and sold here by South Korea-based automakers dropped sharply from a year earlier last month amid advances by their local competitors, industry data showed Monday.In July, Renault Samsung Motors Co., the local unit of French automaker Renault S.A., sold 1,066 units of the QM3 crossover SUV, down 55.5 percent from the same month last year, according to the data.QM3 cars are imported to South Korea after being produced overseas through the so-called original eq
MobilityAug. 8, 2016
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More investors join race to take over Tongyang Magic
SK Networks Co. and some local investors have expressed their interest in buying local home appliance vendor Tongyang Magic Co., a deal estimated at some 500 billion won (US$448 million), industry sources said Monday.A consortium of homegrown private equity fund Glenwood and NH PE has put Tongyang Magic up for sale. The consortium took over the home appliance vendor in 2014 for 280 billion won.According to the sources, the consortium is planning to receive preliminary bids from potential investo
IndustryAug. 8, 2016