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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Middle East’s big AI push lures Korean tech firms
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Arrival of fall calls for more outdoor festivals
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New Fifty Fifty off to strong start
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Assembly to review disputed appointment of national soccer team coach
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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Trump officially nominated as Republican presidential candidate
Donald Trump was officially nominated the Republican candidate for the U.S. presidential election on Tuesday, completing a meteoric rise from an outsider who was once considered a joke.The real-estate mogul received a total of 1,725 delegates, well over the majority of 1,237 needed, in the state-by-state roll call vote on the second day of a four-day national convention held at the Quicken Loans Arena in Cleveland, Ohio."Such a great honor to be the Republican Nominee for President of the United
WorldJuly 20, 2016
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S. Korean man indicted for trying to enter N. Korea
A 54-year-old South Korean man has been indicted on charges of attempting to enter North Korea in violation of the country's security law, prosecutors said Wednesday.The Seoul Central District Prosecutors' Office said the suspect, whose identity was withheld, allegedly left for China in September 2013 and sought support from Uriminzokkiri, Pyongyang's main internet-based media and propaganda website, to enter the North.He is also suspected of seeking similar support from the North Korean Embassy
Social AffairsJuly 20, 2016
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Hyundai Motor, Hyundai Heavy workers stage strike for 2nd day
Tens of thousands of workers at Hyundai Motor Co. and Hyundai Heavy Industries Co. downed tools for the second day of partial strikes on Wednesday, pressing the companies to accept their demands for a pay raise, better working conditions and a halt in tough restructuring moves.About 15,000 unionized workers at Hyundai Motor, the country's top automaker, walked off the job for four hours from 11:30 a.m. at the company's plant in Ulsan and other facilities. On Tuesday, they also launched a four-ho
IndustryJuly 20, 2016
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Starbucks drinks to sell for half price between Thurs-Sat
Drinks at Starbucks will sell for half price during the company’s 17th year anniversary event period this week, Starbucks Coffee Korea announced on Wednesday.The “Happy Hour” event will be held from Thursday to Saturday, between 3 p.m. and 5 p.m. at more than 900 Starbucks stores nationwide in Korea. (123RF)Exceptions to the event are stores at leisure complexes Vivaldi Park Ocean World and Phoenix Park, as well as expressway service station Majang Premium. Non-barista-made drinks such as Starbu
IndustryJuly 20, 2016
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Korean shares down in late morning trading
Korean shares traded lower late Wednesday morning, but pared part of earlier losses on gains in tech stocks.The benchmark Korea Composite Stock Price Index shed 5.32 points, or 0.26 percent, to 2,011.57 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics adding 0.26 percent.Global chipmaker SK hynix shed 1.54 percent, and POSCO, the country's leading steelmaker, dropped 1.14 percent.Naver, the operator of the country's top Internet portal, dipped 2.79 percent.In contr
July 20, 2016
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Korea secures manganese crust in Pacific Ocean
Korea has secured a combined 40 million tons of manganese crust in the western region of the Pacific Ocean as part of efforts to seek deep sea mineral resources in international waters, the maritime ministry here said Wednesday.The manganese nodules are located on the sea bed at a depth of 800 meters to 2,500 meters. They are rich in minerals such as iron, copper and manganese hydroxides.The International Seabed Authority has approved Korea's management of 3,000 ㎢ of manganese crust with nine se
Social AffairsJuly 20, 2016
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Saenuri urges Hyundai workers to end strike
Korea's ruling Saenuri Party said Wednesday that the unionized workers at Hyundai Motor Co., the country's top automaker, should end the latest strike, adding such actions are hurting numerous subcontractors."The average annual wage of Hyundai Motor workers stands at 96 million won ($83,900)," Chung Jin-suk, the floor leader of the party said. "Due to (the strike) of such high-income earners, those working at subcontractors that supply parts to Hyundai (and do not get paid as much) are being hur
PoliticsJuly 20, 2016
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KEPCO to use utility poles as electric vehicle charging stations
Korea's state-run power supplier has devised a way to use utility poles as charging stations for electric vehicles, drastically cutting installation costs, its officials said Wednesday.Working with an idea submitted by one of its employees, the Korea Electric Power Corp. said it will conduct a trial test within this year in the southeastern city of Busan. A memorandum of understanding will be signed with the city on July 28, officials said. (Yonhap)The pole-mounted EV charger, being developed fr
IndustryJuly 20, 2016
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Kiwoon Securities to acquire TS Bank
[THE INVESTOR] Kiwoom Securities will acquire a Seoul-based savings lender TS Bank to expand its revenue sources, the Korean brokerage firm said on July 20. Kiwoom plans to buy the entire stake -- 2 million shares -- in TS Bank for 88.5 billion won (US$77.52 million), according to the firm’s regulatory filing. Currently, TS Bank runs two branches in Yeoksam and Yeouido, Seoul. Kiwoom said the acquisition plan aims at “increasing revenue by entering the savings banking business.” The deal is the
July 20, 2016
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NPS' reliance on Samsung stocks grows
The value of Samsung Group shares owned by Korea's state pension fund jumped to 24.2 trillion won ($21.2 billion) in the first half of the year, reaching a quarter of its total investment in the local stock market, data showed Wednesday.The National Pension Service, which manages the world's third-largest public fund, allocates around 100 trillion won in its home market. (Yonhap)The NPS had 5 percent or more of a stake in 98 firms of Korea's 30 largest business groups, totaling 62 trillion won i
IndustryJuly 20, 2016
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Park reaffirms her desire to foster agricultural sector
President Park Geun-hye on Wednesday said fostering agriculture as a new growth engine and export industry is a "task of our times," stressing the government's ongoing efforts to boost the farming sector.In a video message at a ceremony that the National Agricultural Cooperative Federation held to launch an agricultural support center, she also highlighted the need to produce value-added farm products through a combination of creative ideas, information and communications technologies, and other
PoliticsJuly 20, 2016
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Koreans spend more than $3,000 a year on insurance
Koreans paid more than a combined $3,000 per policy holder in insurance premiums for the year ended in March, a market researcher said Wednesday.Koreans' insurance density stood at $3,034 in the financial year 2015-16, compared with $2,332 in 2010, Swiss Re, the world's second-largest reinsurer based in Switzerland, said in its sigma report, referring to per capita premiums.It said Korea's premium per person is the 18th highest in the world, five notches higher than in 2010.The Cayman Islands, a
July 20, 2016
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Korea's exports to China dip for 12th consecutive month
Korean exports to China fell 9.4 percent on year last month, marking the 12th straight month of declines, data showed Wednesday. Shipments to China declined to $10.2 billion in June, compared with $11.3 billion for the same month last year, according to the data from the Korea International Trade Association.China grappling with slow growth is South Korea's biggest export destination. The pace of declines in exports to China has slowed since May with exports dipping 9.1 percent on year during th
July 20, 2016