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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Seoul to require criminal records of new foreign sailors
Foreign sailors seeking to work for South Korean ships may be required to submit their criminal records while their South Korean captains and colleagues will be required to undergo anti-racism education, the government said Tuesday.The measures are largely aimed at preventing on-board crimes.They follow the recent alleged homicide of a South Korean captain and an engineer aboard a South Korean fishing boat by two Vietnamese fishermen.Under the government measures, approved at a Cabinet meeting o
Social AffairsJuly 26, 2016
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Hyundai Mipo wins contract for car ferry
[THE INVESTOR] Hyundai Mipo Dockyard announced on July 25 that it has won a contract for a car ferry. The vessel will be delivered to Weidong Ferry, a South Korea-China joint venture, in September 2018. Hyundai Mipo Dockyard and Weidong Ferry hold a signing ceremony on July 22. / Hyundai Mipo DockyardThe ferry will operate on the Incheon-Qingdao route, the company said. It will be designed to carry up to 724 passengers, and have a cargo capacity equivalent to 320 standard 20-foot shipping contai
IndustryJuly 26, 2016
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Korean chicken soup set to make inroads into China
South Korean food companies are set to begin official sales of the traditional chicken soup to China as the first shipments to the mainland have recently cleared customs, industry officials said Tuesday. Samgyetang is a traditional chicken soup made with a whole young chicken stuffed with ginseng, sticky rice and garlic. It is widely recognized in the country as an energy-boosting meal during the summer months.The first shipments of 20 tons of precooked and frozen soup by five Korean companies h
IndustryJuly 26, 2016
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Imports of German cars drop on Volkswagen scandal
Imports of vehicles produced in Germany or by German automakers dropped for the first time in 13 years, apparently due to a large cut in inbound shipments of Volkswagen and Audi cars mired in an emissions scandal, industry data showed Tuesday.In the first five months of the year, imports of German vehicles came to 51,736 cars, down 12.7 percent from the same period last year, according to the data from the Korea Automobile Manufacturers Association.This marks the first on-year drop since a 7.2-p
MobilityJuly 26, 2016
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Credit card spending jumps 14% on base effect
South Korea's credit card spending soared nearly 14 percent in the second quarter from a year earlier when the nation's economy was hit by the spread of the MERS viral respiratory disease, statistics showed Tuesday.Credit card purchases totaled 178.4 trillion won ($156 billion) during the April-June period, a 13.8 percent on-year rise, according to the data from the Credit Finance Association.The upswing is largely due to a base effect. South Koreans slashed their consumption in the second quart
July 26, 2016
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SK hynix profit falls 67.1% on weak chip demand
[THE INVESTOR] SK hynix, the world’s second-largest memory chipmaker after Samsung Electronics, posted a plunge in its second-quarter profit as chip prices continued to decline due to weaker demand for smartphones and PCs. Operating profit fell 67.1 percent to 452.9 billion won (US$390 million), the lowest in more than three years, during the April-June period. Revenue also dropped 15 percent to 3.9 trillion won. SK hynix headquarters in Icheon, Gyeonggi ProvinceDespite increased shipments of DR
IndustryJuly 26, 2016
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SK hynix reports lowest earnings in more than 3 years
South Korean chipmaker SK hynix Inc. on Tuesday reported its lowest quarterly profit in 13 quarters as falling demand for smartphones and computers hit chip prices. SK hynix posted a net profit of 286.1 billion won ($250.4 million) in the April-June period, down 74.2 percent from the same period last year. Second-quarter operating profit dipped 67.1 percent on year to 452.8 billion won. Sales fell 15 percent to 3.9 trillion won. Compared with the previous quarter, sales rose 7.8 percent as shipm
July 26, 2016
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Korea's economy grows 0.7% in Q2 on improved consumption, exports
South Korea's economy posted improved growth in the second quarter on increased exports and consumption, central bank data showed Tuesday.In the three months that ended June 30, the country's gross domestic product grew 0.7 percent from a quarter earlier, according to preliminary data from the Bank of Korea.The second-quarter estimate marks an improvement from a 0.5 percent on-quarter expansion in the previous quarter. From a year earlier, it marks a 3.2 percent improvement.Domestic consumption
July 26, 2016
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Toyota recalls 6,200 cars for defective airbags
Toyota is recalling over 6,200 cars sold in South Korea for defective airbags, the transportation ministry said Tuesday.The recall affects 6,209 units of three vehicle types -- the Prius, Prius PHV and Lexus CT200h -- that were produced between Feb. 26, 2009 and April 27, 2012 and sold here by Toyota Korea Co., the local unit of Japanese carmaker Toyota Motor Corp.The cars come with side airbags that deploy in some crashes.But due to some defective parts, the airbag and other components of the a
MobilityJuly 26, 2016
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Obama says U.S. commitment to Korea 'will never waver'
U.S. President Barack Obama said Monday the U.S. commitment to South Korea's security will never waver and the country will stand shoulder-to-shoulder with the Asian ally in defense of peace and prosperity.Obama made the remark in a message issued in honor of Korean War veterans to mark the upcoming 63rd anniversary of the 1953 armistice that ended three-year fighting in the Korean War. The message came as Republican presidential nominee Donald Trump increasingly questions the value of alliances
DefenseJuly 26, 2016
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Korean vice defense minister arrives in Washington for defense technology talks
South Korean Vice Defense Minister Hwang In-moon arrived in Washington on Monday for talks with U.S. officials about increasing defense technology cooperation between the two countries, an official said.The talks, set for Tuesday, represent the inaugural meeting of the Defense Technology Strategy and Cooperation Group that the defense ministers of the two countries agreed to establish at their annual meeting in November in an effort to bolster defense technology cooperation.Tuesday's meeting wil
DefenseJuly 26, 2016
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Democratic convention opens to nominate Hillary Clinton for White House
The U.S. Democratic Party opened its national convention Monday to formally nominate Hillary Clinton as its candidate for the White House and rally public support for her bid to become the first female president in U.S. history.The former secretary of state is scheduled to be officially anointed as the Democratic nominee on Tuesday and deliver an acceptance speech on Thursday, the final day of the four-day convention held at Wells Fargo Center in Philadelphia.Clinton's vice presidential running
World NewsJuly 26, 2016
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[EQUITIES] Kyobo Securities forecasts LG Corp.’s Q2 revenues to beat market estimates
[THE INVESTOR] Kyobo Securities said LG Corp. the holding company of LG Group is expected to post a second-quarter operating profit of 383 billion won (US$336.61 million), which is 12 percent higher compared to the same period in 2015. Sales were forecast to reach 2.58 trillion won, up 7.2 percent on-year. Both figures are higher than the current market consensus. Kyobo said the higher-than-expected revenues would stem from improved earnings from key affiliates such as LG Electronics and LG Chem
July 26, 2016
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Top U.S., Chinese officials reaffirm goal of Korean Peninsula denuclearization: White House
U.S. National Security Adviser Susan Rice and Chinese State Councilor Yang Jiechi held talks in Beijing and agreed on the "shared goal of denuclearization of the Korean Peninsula," the White House said Monday.Rice's visit to China drew attention as it came amid heightened tensions between the two countries after an international tribunal rejected China's territorial claims to most of the South China Sea in a victory for the Philippines and other Southeast Asian nations locked in maritime dispute
Foreign AffairsJuly 26, 2016