Most Popular
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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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1 in 5 households to have breadwinner over 80 in 30 years
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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Evicted guest burns down inn; 3 killed
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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Korea's land prices rise 1.25% in H1
South Korea's land prices continued to grow in the first half of the year, government data showed Wednesday, amid a residential building construction boom partly created by a series of government measures aimed at boosting the property market.In the six months ended June 30, land prices gained 1.25 percent from six months earlier, accelerating from a 1.07 percent increase over the same period last year, according to the Ministry of Land, Infrastructure and Transport.The tally marks the steepest
July 27, 2016
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Industrial power consumption growth hits 2-year high in Q2
South Korea's industrial electricity sales in the second quarter grew at the fastest pace in nearly two years on the back of a recovery in the chipmaking and oil refinery sectors, the government said Wednesday.The amount of electricity consumed by the country's industrial sector reached 69.55 billion kilowatt-hours in the April-June period, up 1.6 percent from the same period last year, according to the Ministry of Trade, Industry and Energy.The on-year growth in the second quarter marked the la
IndustryJuly 27, 2016
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Korea brings back remains of fishermen from Spain
Seven South Korean fishermen who died during pelagic fishing some four decades ago were repatriated to their relatives on Wednesday for reburial, the maritime ministry here said.The late fishermen had been buried in graveyards in Spain after years of ocean fishing in the 1970s and 1980s.The Ministry of Oceans and Fisheries has carried out a project to find the remains of the fishermen since 2002 as part of its efforts to commemorate their contribution to South Korea's economic development. South
Social AffairsJuly 27, 2016
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Korea, World Bank agree to widen cooperation
South Korea's finance minister on Wednesday held a meeting with the president of the World Bank Group to discuss ways to expand the country's participation in the organization, the ministry here said."It is time to come up with projects to utilize South Korea's experience of economic development and create synergy in the World Bank," Finance Minister Yoo Il-ho said in a meeting with Jim Yong Kim in Seoul.The South Korea-born president has been in Seoul since Monday, following a Group of 20 meeti
July 27, 2016
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Number of foreigners in Korea exceeds 2 million
In nearly a decade the number of foreigners in Korea has doubled, hitting 2 million this year, government data showed Wednesday.According to the Justice Ministry, the number of foreign residents was 2.18 million as of June 30, accounting for 3.9 percent of the nation’s entire population. Considering the size of the foreign population grew by an annual average of 8 percent during the 2011-2015 period, the Justice Ministry expects the number to exceed 3 million and make up 5.82 percent of the popu
Social AffairsJuly 27, 2016
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LG Display’s Q2 operating profit down 91%
[THE INVESTOR] South Korea’s display maker LG Display saw its operating profit drop 91 percent on-year in the April-June period, due largely to fierce competition in the global display market. The Seoul-headquartered company posted operating profit of 4.4 billion won (US$3.88 million) while its revenue came in at 585 billion won, down 13 percent compared to the same period in 2015.The TV and smartphone displays together account for more than half of the quarterly revenue -- 39 percent and 27 per
Latest NewsJuly 27, 2016
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N. Korea fired 31 ballistic missiles in past 5 years
North Korea has launched a total of 31 ballistic missiles in the past five years under Kim Jong-un, twice the number of missiles test-fired when his late father was in power, the defense ministry here said Wednesday.North Korea has test-fired 16 short-range Scuds with a range of 300 to 1,000 kilometers, six mid-range Rodongs that can fly 1300-1500 km, six intermediate-range Musudans with a range of 3,500-4,000 km and three submarine-launched ballistic missiles since late 2011. The incumbent lead
North KoreaJuly 27, 2016
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Saenuri vows to organize joint consultation group to tackle THAAD
South Korea's ruling Saenuri Party said Wednesday it will move quickly to form a joint consultation group made up of the military, the government and Seongju residents to discuss the deployment of an advanced anti-missile defense system in the country.Residents of Seongju, located 296 kilometers southeast of Seoul, have strongly protested the deployment of the Terminal High Altitude Area Defense system, amid lingering rumors of health risks caused by its powerful X-band radar. Locals have also v
PoliticsJuly 27, 2016
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S. Korea blocks N. Korea's participation in martial arts competition: report
The South Korean government has blocked North Korea's participation in a martial arts competition here in September, after Pyongyang accepted an invitation, a Washington-based news media report said Wednesday.According to Voice of America, the organizers of World Martial Arts Masterships asked George Vitale, the spokesman of the North Korea-led International Taekwondo Federation, to check whether North Korean taekwondo practitioners are willing to participate in its inaugural event in Cheongju,
North KoreaJuly 27, 2016
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Nexon founder tops list of stock rich among self-made entrepreneurs
The founder of leading online game maker Nexon Co. is South Korea's richest man among 50 self-made entrepreneurs ranging in age from the 30s to 50s, data showed Wednesday.Kim Jung-ju, the chairman of Nexon's holding firm NXC Corp., holds stock assets worth 2.87 trillion won ($2.5 billion), according to the data compiled by CEOSCORE, a website that tracks conglomerates, financial firms and state-run companies.Kim was summoned by prosecutors for the second time last week over his alleged involveme
CompaniesJuly 27, 2016
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Hanjin Shipping pressed to raise more money to tide over cash shortage
Cash-strapped Hanjin Shipping Co. has come under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, industry sources said Wednesday.According to the sources, Hanjin Shipping, the country's No.1 shipping line, has proposed raising some 400 billion won ($353 million) via stocks sales to its affiliates, but creditors want the shipping firm to jack up the figure to some 700 billion won.Hanjin Shipping needs some 1.2 trillion won over the next 18 months t
IndustryJuly 27, 2016
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PM expresses gratitude to U.N. troops' devotion during Korean War
Prime Minister Hwang Kyo-ahn on Wednesday said South Korea wishes to express gratitude to the invaluable support provided by the United Nations during the Korean War (1950-53), adding Seoul will continue to take steps to protect the country from Pyongyang's relentless provocations."Due to the efforts made by the war veterans and its people, South Korea achieved miracle-like industrialization and democratization, making it stand strong today," Hwang said in a ceremony marking the signing of the A
InternationalJuly 27, 2016
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Kia Motors Q2 net jumps 10.6%
Kia Motors Corp., South Korea's No. 2 automaker, said Wednesday that its second-quarter net income surged over 10 percent from a year earlier on a large increase in sales.Net profit came to 825.7 billion won ($727 million) in the April-June period, up 10.6 percent from the same period last year, the company said in a regulatory filing.Sales jumped 16.1 percent on-year to 14.45 trillion won, marking the highest quarterly tally since 2010, when the company adopted international financial reporting
July 27, 2016
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Former Gyeonggi governor to skip Saenuri leadership race
Kim Moon-soo, a former governor of Gyeonggi Province who has been cited as one of the prominent contenders for the ruling party's leadership election, said Wednesday that he will not join the race.In a statement, Kim, who was elected to parliament three times in the past, said he will not be running in the chairmanship election slated for next month, and instead will devote himself for the betterment of South Korea and the Saenuri Party. Kim Moon-soo, a former governor of Gyeonggi Province (Yonh
PoliticsJuly 27, 2016
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LG Display bets big on OLED to take on Samsung
[THE INVESTOR] South Korea’s display manufacturer LG Display announced on July 27 that it would invest around 2 trillion won (US$1.80 billion) to build manufacturing facilities for plastic organic light-emitting diode displays, a type of flexible display mostly used for mobile devices like smartphones. The company will add the new facilities with the monthly production capacity of 15,000 sheets of the sixth-generation plastic OLED -- measured 1,500 millimeters by 1,859 millimeters -- at the firm
TechnologyJuly 27, 2016
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Samsung BioLogics to make IPO debut in November
[THE INVESTOR] Samsung BioLogics, the biosimilar drug producer of Samsung Group, is expected to make its long-awaited stock debut on Korea’s main bourse KOSPI in November. According to industry sources on July 27, the company will submit its IPO application on Aug. 2 that will be reviewed by the Korea Exchange for 45 days. Samsung BioLogics plantBioLogics’ stock debut will become this year’s largest IPO in Korea after the much-hyped 5 trillion won (US$4.40 billion) IPO of Hotel Lotte was delayed
IndustryJuly 27, 2016