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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E-mart to open first store in Mongolia
South Korean discount retailer E-mart said Thursday that it will open its first store in Mongolia later this month as part of efforts to expand presence overseas.The new branch will be opened in central Ulaanbaatar on July 28 and be the country's first large discount chain that will also house a bank, a kids cafe and a hair salon, E-mart said.The move comes as the discount outlet chain is moving to foster new growth engines and tap deeper into the new emerging market with a population of 3 milli
IndustryJuly 14, 2016
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Diesel consumption hits monthly record in May
South Korea's diesel consumption hit a monthly record in May, state statistics showed Thursday, an indication that diesel-powered cars are still dominant over electric and hybrid vehicles.According to an informational website operated by state-run Korea National Oil Corp., South Korea consumed a record 14.31 million barrels of diesel in May. The previous record was 14.1 million barrels in October last year. Gasoline consumption for May was 6.6 million barrels.Automobiles used 77.73 percent of th
IndustryJuly 14, 2016
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Hyundai Motor's labor unionists approve strike
Tens of thousands of unionized workers of Hyundai Motor Co. have voted in favor of a strike, officials said Thursday, setting the stage for another walkout that may cut the carmakers' vehicle output.The officials said 37,358 unionized workers, or 76 percent of the more than 48,800 unionized workers, authorized a strike in a vote on Wednesday in Ulsan, home to Hyundai's main assembly plants, located some 410 kilometers southeast of Seoul.Still, the unions are not allowed to down tools immediately
IndustryJuly 14, 2016
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Korea to pour nearly 6 tln won to prop up economy
South Korea will inject a net 6 trillion won ($5.2 billion) into a supplementary budget for the economy in order to invigorate Asia's fourth-largest economy struggling with faltering exports and flaccid domestic demand, the finance ministry said Thursday.Last month, the government announced a set of stimulus programs, including 10 billion won in extra budget for the second half of this year, citing rising uncertainties at home and abroad.South Korea's exports posted negative growth for a record
July 14, 2016
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Hyundai Motor union approves strike
[THE INVESTOR] Hyundai Motor’s labor union approved strike plans in a vote on July 13.The union said that more than 76 percent of its 48,800 members approved the strike.Hyundai Motor’s union plans to participate in a rally on July 20 led by the hardline umbrella union the Korean Confederation of Trade Unions in Ulsan. The July 20 rally will be the first time in 23 years that Hyundai Motor and Hyundai Heavy Industries’ unions are cooperating for industrial action. The carmaker’s union also plans
MobilityJuly 14, 2016
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Speculations rise over Park Sam-koo and Kumho Tire
[THE INVESTOR] The news of Kumho Tire creditors seeking a buyer for their stake is fueling speculations about Kumho Asiana Group chairman Park Sam-koo’s future course of action. Park holds pre-emption rights, and he has been working on rebuilding the group that was fragmented due to financial troubles in the late 2000s.However, the massive figures associated with Kumho Tire sale have prompted speculations that Park’s plans for the company may be difficult to achieve.Kumho Asiana Group chairman P
IndustryJuly 14, 2016
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Saenuri urges Minjoo to express clear stance on THAAD
South Korea's ruling Saenuri Party on Thursday urged the Minjoo Party of Korea to express a clear view on the deployment of an advanced U.S. missile defense system, as the main opposition continued to maintain a neutral position on the sensitive issue."The country's main opposition party should not be vague on the biggest security issue," said Chung Jin-suk, the ruling party whip. Chung Jin-suk, the floor leader of the ruling Saenuri Party, takes a seat for a meeting held at the party's headquar
DefenseJuly 14, 2016
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BOK holds key rate steady at record low 1.25% for July
South Korea's central bank kept its policy rate frozen for July on Thursday, one month after it sent the key rate to a record low to bolster growth in Asia's fourth-largest economy.In a widely expected move, the Bank of Korea's monetary policy board voted to keep the key rate steady at 1.25 percent.The board made a surprise rate cut in June after holding the key interest rate steady at 1.5 percent for 11 consecutive months in what many saw as a pre-emptive step to boost local spending, one of tw
July 14, 2016
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Korean corporate bonds gain global investor interest
South Korea's corporate global bonds have become an investment attraction in overseas markets, helped by the country's sturdy credit ratings, finance industry officials said Thursday.Korea Gas Corp. earlier this week sold $900 million in five- and 10-year dollar-denominated bonds. Presale estimated demand was for $4 billion from 240 institutions. The yield for five-year notes settled at 1.920 percent and 10-year notes at 2.325 percent. The yield for the latter was the lowest for a South Korean c
July 14, 2016
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Park to convene National Security Council meeting on THAAD
President Park Geun-hye will convene a session of the National Security Council on Thursday to discuss follow-up measures to the recent decision by Seoul and Washington to deploy an advanced U.S. antimissile system here, her office said.On Wednesday, the allies announced their official decision to deploy a Terminal High Altitude Area Defense battery in the southern town of Seongju to better cope with North Korea's evolving nuclear and missile threats.The decision triggered a strong protest from
DefenseJuly 14, 2016
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Seoul stocks open lower on profit-taking
South Korean shares opened slightly lower Thursday, bucking the trend on Wall Street, as investors sought to lock in recent gains.The benchmark Korea Composite Stock Price Index fell 1.34 points, or 0.07 percent, to 2,004.21 in the first 15 minutes of trading.Keen attention is being paid to whether the KOSPI will be able to maintain momentum after reaching a monthly high a day earlier.Traders are waiting for a statement on the results of the Bank of Korea's monthly monetary policy meeting later
July 14, 2016
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Samsung SDS invests in Darktrace, Blocko
[THE INVESTOR] Samsung SDS, the IT solutions unit of Samsung Group, said on July 14 it has recently decided to invest into UK-based security solutions developer Darktrace and Korean blockchain venture Blocko. “With the latest investments, we aim to carry out diverse ICT projects,” the company said in a statement. “We will strengthen our security solutions and services through Darktrace’s next-generation security solutions, while with Blocko we will apply blockchain technology to diverse areas su
TechnologyJuly 14, 2016