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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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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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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Seoul to update emissions trading rules
[THE INVESTOR] The government will update the country’s emissions trading system to allocate more permits to industries that claim shortage, Vice Minister of Trade, Industry and Energy Woo Tae-hee said on July 18. “(The Energy Ministry) will work with the Ministry of Strategy and Finance, and related ministries to improve the system,” Woo said. (123rf)“In the mid- to long-term, a support system will be established to encourage the industry to reduce emissions, and improve the system so that (cor
IndustryJuly 18, 2016
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Korea's duty-free shop sales surpass 5 tln won in H1
Sales at Korea's duty-free stores jumped 26.1 percent in the first half of this year from a year ago, helped by a rising influx of Chinese travelers, the customs agency said Monday. The combined revenue of 50 duty-free outlets nationwide was tallied at 5.77 trillion won ($5.07 billion) in the January-June period, surpassing the 5 trillion won mark for the first time, the Korea Customs Service said. If the current trend continues in the latter half, this year's duty-free sales are expected to rea
Social AffairsJuly 18, 2016
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Seoul report draws renewed attention to Pyongyang's human rights abuses
A South Korean report on the realities of torture carried out in North Korea is drawing renewed attention to deep-rooted human rights abuses continuing in the reclusive country.In a seminar held in Seoul, the state-run Korea Institute for National Unification released a report based on years of surveys and interviews of North Korean defectors who suffered from merciless torture in labor camps.Under the theme of "North Korea's Tortures and Inhumane Treatment," KINU research fellow Lee Sang-sin sa
North KoreaJuly 18, 2016
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Duty-free sales in H1 top W5tr for first time
[THE INVESTOR] Duty-free stores in Korea performed well in the first half of this year, as a total of 50 outlets recorded sales of 5.77 trillion won (US$5.08 billion), a 26.1 percent increase from the same period last year, according to customs data released on July 18. This is the first time that duty-free sales in H1 have passed the 5 trillion won mark, and if the upward turn continues into the second half, it might reach 12 trillion won, doubling from that of 2011. (123rf)A total of 22 urban
IndustryJuly 18, 2016
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Samsung to supply connected car solution to AT&T from August
[THE INVESTOR] Samsung Electronics will supply its own connected-car solution Samsung Connect Auto to U.S. telecom behemoth AT&T from August in its latest push to make inroads into the futuristic car market. According to news reports on July 18, AT&T will offer the service based on a monthly payment plan. After gauging market reactions, Samsung aims to diversify corporate clients in the coming months. (123rf)The Korean tech giant first unveiled the Connect Auto solution during the Mobile World C
TechnologyJuly 18, 2016
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U.S. Supreme Court to hear Samsung’s iPhone patent appeal
[THE INVESTOR] The U.S. Supreme Court will hear oral arguments in a drawn-out legal battle between Samsung Electronics and Apple on Oct. 11, the court announced recently as it posted its schedule for the October 2016 term. In March, the court announced it would hear the case, the first time the top court has looked at a design patent case since the 1800s. (123rf)The rare decision comes after Samsung filed a request with the court last year to reexamine the case that it lost to Apple, which resu
TechnologyJuly 18, 2016
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Korean gov’t to lower cost of EV recharging, develop electric truck
[THE INVESTOR] South Korea will halve the cost of recharging electric cars, and increase investment in related fields as part of its EV development strategy.Under the Ministry of Trade, Industry and Energy’s plans revealed on July 18, the government will also launch R&D programs aimed at doubling EVs’ driving range, and to develop electricity powered small truck with 1 metric ton load capacity. Hyundai Motor's IONIQ“(The government) will speed up providing support in R&D, incentives and other me
MobilityJuly 18, 2016
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Korea, Mongolia hold biz forum
Korea's business community voiced hope Monday to expand economic partnerships with Mongolia and unite the Eurasian countries that have great potential to become a major global economic bloc."It is important for Eurasian countries to unite and connect to 'one continent' in order to develop Eurasia to the next level,"Park Yong-maan, president of the Korea Chamber of Commerce and Industry, said at a business forum held in the Mongolian capital of Ulaanbaatar.Park noted that the Eurasian region has
Diplomatic CircuitJuly 18, 2016
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[Editorial] THAAD disputes
The latest developments surrounding the deployment of the Terminal High Altitude Area Defense system here are exposing problems this country faces whenever it confronts an issue like this: incompetent government, populist politicians and selfish residents.The primary blame for the U.S. antimissile system becoming another contentious issue should go to the Park administration. The way President Park Geun-hye, her ministers and aides are handling the issue shows how incompetent the government is.F
EditorialJuly 18, 2016
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[Editorial] Safeguarding justice
Rep. Kim Cheol-min and 14 other members of The Minjoo Party of Korea have drafted a bill to restrict the power of the president to grant special amnesties. The bill should prompt the National Assembly to address the issue, which comes up whenever there is a presidential pardon.The bill aims, among other things, to exclude convicts from amnesty unless they have served a certain period of their prison terms. For instance, those facong the death penalty should have served at least 15 years; those w
EditorialJuly 18, 2016
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FSC to toughen rules on stock trades by its officials
Korea's top financial regulator will tighten internal rules on stock trades by its officials, an informed source said Monday, a day after a top prosecutor was arrested on charges of taking bribes in stocks.The Financial Services Commission plans to revise the ethics code to ban new share trading by officials with a rank of 4 or higher. There are nine ranks for Korean civil servants with grade 1 being the highest and 9 the lowest.Under the nation's current equity market law, its public servants a
July 18, 2016
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S. Korea to host 8th Asian Business Summit
[THE INVESTOR] South Korea has been selected as host of the eighth Asian Business Summit that is to be held in 2017.The decision was made during this year’s summit on July 16 in Singapore. The Asian Business Summit is an important forum for leading business organizations across Asia to meet and deliberate upon the key challenges, identify new partnership opportunities, as well as build a roadmap for accelerating growth. This year, a total of 24 representatives from 15 corporate organizations in
IndustryJuly 18, 2016