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 Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Match-fixing scandal latest blow to baseball
From DUI to lewd conduct in public to match fixing, baseball, by far the nation's most popular sport, has taken a beating this year.The attendance figures in the Korea Baseball Organization may be gaudy -- just under 5 million through Wednesday and on pace to surpass the single-season record of 7.36 million from last season -- but if the players keep getting into trouble, even the most generous of fans may turn their backs on the sport.On Thursday, NC Dinos' pitcher Lee Tae-yang was indicted on
BaseballJuly 21, 2016
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[Graphic News] Telecom firms projected to record stable Q2 earnings
South Korea‘s three major telecom operators are projected to post stable earnings in the second-quarter of this year, on the strength of curbs on their marketing spending, an industry survey showed Thursday. Under a law that took effect early last year, telecom forms are banned from waging fierce competition by wooing customers with hefty subsidies. The combined revenue of SK Telecom, KT and LG Uplus is expected to grow 2.3 percent on year to 12.6 trillion won ($11.04 billion) in the April-June
July 21, 2016
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Shinhan Financial's H1 net jumps 13.3% on-year
Shinhan Financial Group Co., a major Korean banking group, said Thursday that it posted a 13.3 percent on-year jump in net profit in the first half on a stable increase in profits in its banking unit and improved performance in non-banking units.Net profit for the six months ending June 30 came to 1.454 trillion won ($1.2 billion), up 170.7 billion from a year earlier, Shinhan Financial said in a regulatory filing.Shinhan Financial said its banking unit saw a stable increase in profits, and the
IndustryJuly 21, 2016
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Shinhan aims to transform into major investment bank
[THE INVESTOR] Shinhan Financial Group, a major South Korean banking group, has decided to increase capital by 500 billion won (US$439.63 million) through rights issue in a bid to morph into an investment bank, the group said on July 21. With the proposed capital increase the firm’s equity capital will reach over 3 trillion won, the minimum threshold level to meet the government’s requirement to receive official permits to conduct a full-range of investment banking activities. From 2013, the nat
July 21, 2016
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Korean cosmetics in US could face racism criticism: KOTRA
[THE INVESTOR] Packages of Korean cosmetics selling in US contain expressions that could face criticism of racism, according to a report by Korea Trade-Investment Promotion Agency on July 21.The report notes that a disconcerting ratio of packages included incorrect translations and improper expressions, resulting in bringing down the overall image of Korean cosmetics.Whitening, for example, should be changed to brightening as customers can take it as an expression of racism, the agency pointed o
IndustryJuly 21, 2016
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Construction industry, shipbuilders see worst half on record for orders
The Korean construction and shipbuilding industries have seen the worst record of overseas orders in the first half of this year amid the sluggish economy and the aftermath of Brexit. According to the International Contractors Association of Korea, the total value of overseas orders of local major construction companies reached 12.6 trillion won ($11 billion), dropping by 38.7 percent on-year. This is one fifth of their initial goal of making 62 trillion for this year. Samsung C&T recorded the h
IndustryJuly 21, 2016
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Park keeps tycoons guessing over pardons
South Korean firms are pinning hopes on President Park Geun-hye possibly granting clemency next month to high-profile businessmen convicted of criminal charges. However, there are also jitters among companies over the uncertainties of the president’s decision. Hanwha chairman Kim Seung-youn, CJ chairman Lee Jay-hyun, SK vice chairman Chey Jae-hyun, LIG NEX1 vice chairman Koo Bon-sangThe scale of the pardons could be reduced on political considerations over a recent corruption scandal involving h
IndustryJuly 21, 2016
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E. coli found in restaurants, supermarket products
A survey of restaurants, supermarkets and food production plants showed instances of E.coli in popular foods such as gimbap and lunch boxes, the Food Safety Ministry said Thursday.The products that tested positive for E.coli were being sold in well-known franchises and supermarkets. (123rf)The bacteria were found in gimbap sold in places like fast food chain Pomato‘s branch in Dongjak-gu, Seoul, supermarket Homeplus in Seo-gu, Daejeon, and Lotte Mart in Jeonju.E.coli was also found in foods prod
IndustryJuly 21, 2016
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[Photo News] A cool half-million
Models celebrate surpassing 500,000 sales of Samsung Electronics’ premium refrigerators at an event in Seoul on Thursday. (Yonhap)
TechnologyJuly 21, 2016
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[DECODED] Samsung still retains automotive ambition
[THE INVESTOR] Renault Samsung Motors is a curious name for many foreign consumers even though they may be well aware that Samsung is not making cars. Back in 2000, right after the Asian financial crisis hit the nation hard, France’s Renault Group acquired then troubled Samsung Motor from Samsung Group. The deal price was 615 billion won ($562 million). Despite the sell-off, Samsung Card, the credit card unit, purchased a 19.9 percent stake in the company and has maintained the share until now.
TechnologyJuly 21, 2016
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[Editorial] Losing weight
Obesity has become a social concern that needs the attention of government officials, politicians, as well as individuals. One does not need the authorities to explain why being overweight is becoming a global phenomenon: People are consuming more calories, sugar and fat. They live in an increasingly stressful society and engage in little physical activity. Koreans are no exception. Figures back up the trend. A research center affiliated with the National Agricultural Cooperative Federation said
EditorialJuly 21, 2016
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[Editorial] Under siege
It is obvious that President Park Geun-hye is under siege. She faces hostility on many fronts -- the media, opposition parties and even ruling party members as well as residents from a region that had previously been loyal to her. First, the controversy over one of her most trusted Blue House aides is threatening to erode public trust in the presidential office and the civil service as a whole. It is ironic that a conservative newspaper -- which usually supports Park -- started the increasingly
EditorialJuly 21, 2016
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[Herald Interview] 'Future growth is not in your familiar markets'
JEJU -- Economic power is shifting to Asia and Africa, with technology challenging every sector. Add to these changes, ageing populations and more people feeling left behind, unhappy and even angry at society. Korea, which depends on global consumers to drive economic growth, must understand these worldwide changes and respond quickly to them, said Dominic Barton, a global managing director of consulting firm McKinsey & Company. “Korea did very well, responding to the (2008) crisis. It actually
July 21, 2016
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Convenience stores pay part timers least: survey
Part-time jobs in Seoul on average paid 6,718 won ($5.89) per hour in the second quarter of this year, with convenience stores paying the least, according to statistics from the Seoul Metropolitan Government on Thursday. Seoul’s hourly wage for part-timers is 688 won higher than the current minimum wage of 6,030 won and 192 won higher than the median hourly wage across the country. It also showed a 0.46 percentage increase compared to last year. The median hourly wage in Seoul was 6,687 won in t
Social AffairsJuly 21, 2016
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Beers fly off shelves thanks to scorching summer
[THE INVESTOR] As the sweltering hot weather continues, beer sales are hiking up. The sales of beer this month increased 10 percent from the same period last year, boasting the most popularity among spirits and liquors, according to a data released by the nation’s largest retailer Emart. “Beers are the most popular since they are relatively low in alcohol and offer a variety of choices at low prices,” said Shin Geun-jung head of alcoholic beverages at Emart. Convenience stores are also seeing a
IndustryJuly 21, 2016
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Korea’s first virtual reality cafe to open in Gangnam
[THE INVESTOR] The first virtual reality cafe in the country will be set up in Gangnam, a posh shopping and business district in southern Seoul.Named VR Plus Show Room, the cafe will open on July 22. It will be fitted with 102 desktops, four Oculus Rifts, and four HTC Vibes.A private firm called VR Plus will run the cafe, and is expected to offer a range of virtual reality content free of charge for an unspecified period of time.“I hope the first VR cafe will become a venue where users and virtu
TechnologyJuly 21, 2016