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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Korea’s IoT market to surge to W17tr by 2020
[THE INVESTOR] Korea’s market for Internet of Things services is expected to surge from the current 3.3 trillion won (US$ 3 billion) to 17.1 trillion won by 2020, a think tank predicted on July 12. The forecast means the nation’s IoT market will grow at an annual average of 38.5 percent in the next five years, outpacing 28.8 percent of the global market. Samsung ElectronicsHyundai Research Institute pinpointed smart home, smart city and smart car as top three promising industries in an era of th
TechnologyJuly 12, 2016
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AmorePacific suffers in Europe
[THE INVESTOR] AmorePacific has been thriving in Korea and China, ranking as the 14th biggest cosmetics company in the world (WWD Beauty, 2015) by revenue. In Europe, however, the K-beauty giant has been barely making its mark.Its European operations posted 10.1 billion (US$8.77 million) net loss last year, according to its regulatory filing released on July 11, for two years in a row. Its revenue dropped 22.9 percent on-year to 49.2 billion won. AmorePacific has pulled the plug on its skincare
IndustryJuly 12, 2016
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S. Korea’s growth rate to drop further in 2016, 2017: think tank
[THE INVESTOR] South Korea’s economic growth rate will come in at 2.5 percent this year, at drop further in 2017, a think tank projected on July 12. In its second half outlook report, the LG Economic Research Institute projected a growth of 2.1 percent for the final stretch of the year, bringing the annual average to 2.5 percent. For 2017, LGERI projected a growth rate of 2.3 percent. The government’s economic growth rate projection for 2016 is 2.8 percent. The report forecast that dropping expo
July 12, 2016
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Samsung C&T suffers AU$1b loss in Australia mining project
[THE INVESTOR] Samsung C&T, the construction and trading unit of Samsung Group, have lost AU$1 billion on a mine construction project in Australia, Financial Times reported on July 12. According to the report, the company recently completed work on the Roy Hill iron ore mine in Western Australia. But it is still fighting court battles with contractors for AU$65 million in unpaid subcontracting work. “The Roy Hill Project was the company’s first mining construction project, and there are no other
IndustryJuly 12, 2016
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Jennifer Lopez, Miranda release Orlando tribute
NEW YORK (AFP) -- U.S. pop diva Jennifer Lopez and Broadway superstar Lin-Manuel Miranda on Monday put out a musical tribute to victims of the Orlando nightclub attack, with proceeds going to charity.“Love Make the World Go Round” is tinged with an up-tempo synth-pop beat and resilient messages, such as when Lopez sings, “Those who hate us and fear us cannot keep us down.”Lopez and Miranda, who had teased the song a week ago, performed it on NBC’s “Today” show on a brilliant New York summer day
PerformanceJuly 12, 2016
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FM says S. Korea’s growth rate will drop more without supplementary budget
[THE INVESTOR] South Korea’s economic growth rate will drop to about 2.5 percent without supplementary budget, Finance Minister Yoo Il-ho said on July 12.Speaking to the parliamentary Special Committee on Budget and Accounts, Yoo, who doubles as deputy prime minister for economic affairs, said that if the government is not granted the supplementary budget, the country’s growth rate will hover around 2.5 percent.Finance Minister Yoo Il-hoHe said that the ministry will submit the supplementary bud
July 12, 2016
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Kolon Life Science seeks approval for degenerative arthritis drug
[THE INVESTOR] Kolon Life Science has filed for government approval for a drug it developed to treat degenerative arthritis, the company said on July 11. After 17 years of research, the pharmaceutical company introduced Invossa, Korea’s first gene therapy for degenerative arthritis. The new drug injects healthy human cartilage cells into the space between the bones to alleviate pain and treat the major symptoms. It can also be an alternative for surgical treatment, according to Kolon Life Scienc
IndustryJuly 12, 2016
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Korean gov’t tax revenue rises W19tr in first 5 months
[THE INVESTOR] South Korean government’s tax revenues for the first five months of the year has increased by 19 trillion won (US$ 16.50 billion) from a year ago, boosted by improvements in consumer spending and the property market. According to data released by the Minister of Strategy and Finance, the government collected 112.7 trillion won in taxes during the first five months of the year. In comparison, the figure for the same period last year was 93.7 trillion won. The Finance Ministry said
July 12, 2016
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Oculus Rift poised to debut in Korea
[THE INVESTOR] US tech firm Oculus has filed an application to receive a mandatory radio wave certification for its virtual reality headset in South Korea, an apparent move to release the VR device here soon. Oculus, owned by Facebook, excluded South Korea from the list of the global markets where its VR device went on sale in January. Oculus’ virtual reality headsetThe Gear VR, developed together by Samsung Electronics and Oculus, has been ruling the domestic market so far.The US VR firm has al
TechnologyJuly 12, 2016
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Google Korea to open arcade on July 29
[THE INVESTOR] Google Korea said on July 12 it will open an offline entertainment space Google Play Arcade at Dongdaemum Design Plaza in Seoul on July 29. The arcade will feature up to 30 games such as “Clash Royal,” “Despicable Me: Minion Rush,” “Infinite Stairs,” “Stone Age” and “Slugger Mobile” that have enjoyed considerable popularity both in Korea and overseas. A mobile game will be displayed on a large screen or on an interactive experience zone, bringing more fun to visitors with their fa
TechnologyJuly 12, 2016
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THAAD's components to be operated in package: Seoul
South Korea's defense ministry said Tuesday that main components of an advanced U.S. missile defense system will be operated in a package at a U.S. military base when deployed in South Korea.Seoul and Washington agreed last week to set up a Terminal High Altitude Area Defense system on South Korean soil where about 28,500 American soldiers are stationed. The system consists of five components: mobile launchers, interceptor missiles, radar, a fire control unit and a battery support center.The Min
DefenseJuly 12, 2016
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PM says THAAD deployment does not require parliamentary approval
Prime Minister Hwang Kyo-ahn on Tuesday reiterated the government's position that the recent decision by Seoul and Washington to deploy an advanced antimissile system here does not require parliamentary approval.Some opposition lawmakers have argued that the allies' decision to station a Terminal High-Altitude Area Defense battery in South Korea requires ratification by the National Assembly, while others have called for a referendum on the issue.Prime Minister Hwang Kyo-ahn attends a parliament
DefenseJuly 12, 2016