Most Popular
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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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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Exclusive] Democratic Party of Korea forms US election task force
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Grace Kao] NewJeans fights Hybe for their survival
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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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What will Yoon, Han talk about at dinner?
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BOK slashes growth outlook to 2.7%
South Korea's central bank on Thursday revised down its growth outlook for Asia's fourth-largest economy to 2.7 percent from 2.8 percent three months earlier, citing sluggish consumption at home and abroad.The quarterly revision by the Bank of Korea came shortly after the government slashed its outlook for 2016 to 2.8 percent from 3.1 percent."The local economy will maintain its modest growth trend on expansionary economic policies, but the bank believes local and external uncertainties surround
July 14, 2016
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Senior prosecutor summoned over suspicious stock dealings
Prosecutors on Thursday summoned a senior prosecutor who has come under public scrutiny over suspicious stock transactions.Jin Kyung-joon appeared before the Seoul Central District Prosecutors' Office in southern Seoul to face questioning over the wealth he amassed through shares of Nexon Co., the country's leading online game maker."I admit to my wrongdoings and take it seriously," Jin told reporters before entering the prosecutors' office."I sincerely apologize for hiding the truth to cover my
July 14, 2016
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Park to renew calls for expansion of free trade to curb protectionism
President Park Geun-hye plans to renew her calls for the expansion of free trade to curb the rise of protectionism during this week's Asia-Europe Meeting summit in Mongolia, she said in an interview on Thursday.In her written interview with Mongolia's Montsame news agency, Park stressed that promoting free trade among nations across the world is a "shortcut" to achieving a global economic recovery.The interview was published a day before the two-day ASEM summit in the Mongolian capital of Ulaanb
July 14, 2016
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E-mart to launch operations in Mongolia in July
[THE INVESTOR] South Korea’s No. 1 discount store chain E-mart will open its first outlet in Mongolia on July 28, according to local news reports. The retail chain of Shinsegae Group has been in talks with Altai Holdings, a local trading firm, since 2013 to open the franchise and signed a memorandum of understanding the same year. The process, however, was delayed due to the retailer’s internal issues.Altai Holdings will be in charge of running the store while E-mart will have a stake of 10 perc
IndustryJuly 14, 2016
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Korea to convert pay phone booths into rapid EV charging stations
[THE INVESTOR] KT linkus and the Ministry of Environment will embark on a partnership project to transform pay phone booths into rapid charging stations for electric vehicles to expand the EV market.KT linkus will team up with the Korea Environment Corporation affiliated with the Environment Ministry to install nine EV rapid charging stations in Seoul, Seongnam, Daegu and Suncheon, starting its service from July 15. Rapid charging station in Seoul. KT“We are planning to cooperate with governme
IndustryJuly 14, 2016
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Korea's home transactions sink 23.4% in H1
South Korea's home transactions tumbled 23.4 percent in the first six months of the year from a year earlier, the government said Thursday, in an apparent sign of a slowdown in the local real estate market.The number of home transactions came to 468,000 during the January-June period, compared to a record high of 611,000 over the same period last year, according to the Ministry of Land, Infrastructure and Transport.For June alone, home sales fell 16.1 percent on-year to 92,611, marking the seven
July 14, 2016
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Korea's ICT exports dip 5.1% in June
South Korea's exports of information and communication technology products fell 5.1 percent in June due mainly to a slump in sales of mobile phones and displays, government data showed Thursday ICT exports reached $13.48 billion last month, down from $14.21 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.Exports of ICT goods accounted for 29.8 percent of the country's $45.3 billion in overall shipments abroad over the cited period.South Korea's ex
TechnologyJuly 14, 2016
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Exports of industrial parts, materials sink in H1
South Korea's exports of industrial parts and materials fell in the first half of the year amid weak global demand and low oil prices, the trade ministry said Thursday.Outbound shipments of industrial parts and materials dropped 9.2 percent on-year to US$121.8 billion in the January-June period, accounting for 50.4 percent of the country's overall exports, according to the Ministry of Trade, Industry and Energy.Imports also retreated 8.2 percent on-year to $74.2 billion over the six-month period
IndustryJuly 14, 2016
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Korea-Colombia free trade pact to go into effect this week
The South Korea-Colombia free trade agreement will go into effect from Friday, immediately eliminating tariffs on 4,390 South Korean export products to the South American country, the trade ministry said.Trade volume between the two countries last year reached $1.45 billion, with South Korea exporting $1.13 billion's worth for a $800 million trade surplus, according to the Ministry of Trade, Industry and Energy on Thursday. Colombia, with the third-largest population in South America at 47.6 mil
July 14, 2016
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Samsung Serif TV launched in US market
[THE INVESTOR] Samsung Electronics officially introduced its Serif TV models in the US market on July 13, in collaboration with New York City’s landmark gallery Museum of Modern Arts. Designed by France’s Ronan and Erwan Bouroullec, the model takes its design and name after the shape of the alphabet “I” in the “Serif” font. Due to its stylish qualities, MoMA has uncharacteristically lent its venues for the launch event and will continue to offer support by displaying it in its stores.Samsung Ser
IndustryJuly 14, 2016
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LINE’s IPO 25 times oversubscribed
[THE INVESTOR] LINE Corp.’s simultaneous initial public offerings in Japan and the US this week were nearly 25 times oversubscribed with deposits totaling 2.77 trillion yen (US$2.66 billion), according to lead managers of the dual stock listings on July 14. LINE, operator of its namesake immensely popular mobile messaging app, will make its stock debut on the New York Stock Exchange on July 14 and Tokyo Stock Exchange the next day. Naver board chairman Lee Hae-jinReflecting keen interest among i
TechnologyJuly 14, 2016
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Hyundai Motor, BASF to collaborate on high-performance concept car
[THE INVESTOR] Hyundai Motor and German chemical producer BASF will collaborate in building the high-performance concept car N, industry sources said on July 14. Hyundai Motor concept car N. Hyundai MotorAccording to sources, Hyundai Motor plans to reveal the N concept at the Paris Motor Show in October. BASF’s role in the project is reported to be developing lightweight materials and boosting the engine’s output. The two companies had collaborated in 2010 in developing the midsized concept i-f
MobilityJuly 14, 2016
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GS’s 4th generation owners increase stake
[THE INVESTOR] The great-grandchildren of GS Group(chairman Huh Chang-soo) are steadily increasing their stake in the family business. On July 13, GS announced that GS Caltex executive vice president Huh Joon-hong has purchased 52,000 shares on July 7 and 8. He had the largest stake in the holding company among the fourth generation with 1.64 percent (1,556,327 shares) as of February 2016.GS Caltex executive vice president Huh Joon-hongHe is the great-grandson of GS Group founder Huh Man-jung an
CompaniesJuly 14, 2016