Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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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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[Exclusive] Democratic Party of Korea forms US election task force
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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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Seoul seeks to improve foreign nanny program after two abscond
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Gov’t to increase support for steel, petrochemical R&D
[THE INVESTOR] The government will increase its support for R&D in steel, petrochemical and shipbuilding industries as part of its strategy to improve exports and investments. Key R&D areas specified in the plans, revealed on July 7, include that for developing lightweight steel for automobiles, developing plastics with structural strength matching that of steel, and developing eco-friendly ship-related technologies. Posco's Finex steel millFor the steelmaking industry, the government hopes that
IndustryJuly 7, 2016
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Price of biosimilar, new drugs to increase
[THE INVESTOR] The price of biosimilars and new drugs that are covered under the national health insurance will increase from October, government plans showed on July 7. The price of biosimilar drugs will be priced up to 80 percent of the branded drugs, a 10 percent increase from the current 70 percent rate. The Health and Welfare Ministry unveiled a set of measures to foster the local pharmaceutical industry in a trade and investment promotion meeting chaired by President Park Geun-hye on July
IndustryJuly 7, 2016
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Samsung unveils superfast 256GB UFS
[THE INVESTOR] Samsung Electronics, the world’s largest chipmaker, on July 7 unveiled the industry’s first 256GB Universal Flash Storage, or UFS Card, with a reading speed five times that of a conventional MicroSD Card. The card has the highest capacity in the market for an external memory card and boasts a reading speed of 530 MBps, equivalent to that of a 2.5-inch solid-state drive, or SSD, the company said. The latest card can read a full HD video (5GB) in 10 seconds. It will also be useful f
TechnologyJuly 7, 2016
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LG Electronics partners with Volkswagen for connected car platform
[THE INVESTOR] LG Electronics said July 7 that it would join forces with German carmaker Volkswagen to develop a platform for connected cars. The South tech firm recently signed a partnership deal with VW to develop a smart car platform allowing drivers to directly connect their cars over cloud systems with other connected devices at home. Smart car solution on a screen. LG Electronics“LG’s expertise in smart technology and VW’s leading automotive tech will pave new ways for drivers to communica
TechnologyJuly 7, 2016
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Number of NK defectors up 22% on-year in H1
The number of North Korean defectors grew 22 percent in the first half from a year earlier, government data showed Thursday, as more people are seeking to flee North Korea amid their leader's iron-fist rule. The number of North Koreans who escaped the North and arrived in South Korea reached 749 in the January-June period, compared with 614 the previous year, according to the data by the Ministry of Unification.As of end-June, the total number of North Korean defectors reached 29,543, it showed,
North KoreaJuly 7, 2016
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KT to nurture 20 start-ups this year
[THE INVESTOR] KT, South Korea’s leading telecommunications company, will pour 2 billion won (US$1.7 million) to foster 20 start-ups this year, the company said on July 7. In line with the investment plan, the company held the so-called “speed dating” pitching event, at its headquarters in Seoul on the same day. At the event, start-ups suggest their ideas to attract investment and KT executives choose candidates to receive marketing and financial support on the spot. Among the start-ups selected
TechnologyJuly 7, 2016
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Korea eyes larger presence in halal, kosher markets
[THE INVESTOR] Eyeing the fast growing Middle East markets, the government announced its plans to expand certified halal and kosher products within the local industry on July 7. Halal and kosher refers to products manufactured according to religious guidelines in Islamic and Jewish cultures, respectively. CJ’s Metier Yogurt Powder manufactured to appeal to Muslims.Korea has been making efforts to attract tourists from the Mideast by increasing halal and kosher certified restaurants and now plan
IndustryJuly 7, 2016
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Gov’t to give ‘robot land’ a push
[THE INVESTOR] The government will designate an area of Masan, South Gyeongsang Province, to give the planned robot-themed development project(Masan robot land) a push, government agencies said on July 7.The Daewoo E&C-led consortium’s 400 billion won (US$ 346.4 million) project had been hampered due to its inability to obtain land. Artist's impression of the project after completion. Gyeongnam Robot Land FoundationThe government will now review support measures, including designating the concer
IndustryJuly 7, 2016
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Samsung Venture Investment one of world’s top 5 strategic investors
[THE INVESTOR] Samsung Venture Investment is one of this year’s top five strategic investors funding start-ups in terms of investment volume, the company said on July 7.“We are in the top bracket, and have been there for several years now,” said Kim Young-min, a spokesperson for the firm. He added that the specific amount or recipients of the funding could not be revealed, other than those that have already been released to the media. Samsung Venture Investment‘s main function is to invest in st
July 7, 2016
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Gov’t to offer tax credit to firms investing in ventures
[THE INVESTOR] South Korean companies investing in venture companies will be given tax credits, as part of the government’s measures for boosting investment revealed on July 7. According to the plans, local companies that directly invest in ventures, or place money in investment funds specializing in venture companies will be given tax credits on 5 percent of the funds involved. The measure, which will apply to local companies and financial institutions, will be established during the final quar
July 7, 2016
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Eight business groups engage in cross-shareholding: FTC
Eight Korean conglomerates rely on controversial cross-shareholding among their affiliated companies to strengthen their owner families' control over the entire group, the antitrust watchdog said Thursday.Korea's large business groups are accused of having wielded extra influence over their subsidiaries through complicated intra-group stakeholding arrangements. The Fair Trade Commission revised the local antitrust law in 2014 to tighten a ban on the cobweb-like shareholding system among subsidia
IndustryJuly 7, 2016
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Seoul court says expulsion of pro-N. Korea American was legitimate
A local court ruled Thursday the government's decision to expel a Korean-American woman for making pro-North Korean remarks during her on-stage talk shows here was legitimate.The Seoul Administrative Court dismissed the suit filed by Shin Eun-mi against the chief of a local immigration office, seeking nullification of the expulsion order. The 55-year-old dodged indictment last year after being accused of making comments sympathetic to the North Korean regime at talk shows she hosted in Seoul and
Social AffairsJuly 7, 2016
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Korea, France to discuss nuclear energy cooperation
Korea said Thursday it will hold working-level talks with France this week on promoting a partnership in the nuclear energy field.The two-day bilateral "joint coordinating committee" meeting is due to open in Seoul later in the day, according to the Ministry of Science, ICT and Future Planning.It would mark the 22th biennial session since the two sides launched the committee on nuclear energy cooperation in 1982.The two sides will focus on three main fields: R&D, nuclear safety and industry, a m
Diplomatic CircuitJuly 7, 2016
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Trading value plunges on Brexit woes
[THE INVESTOR] The value of daily share trading on the Korean stock market has significantly declined in July as market volatility has spiked in recent weeks due to the UK’s decision to leave the European Union, following an upward trend during the second quarter this year, according to the local bourse operator Korea Exchange on July 7.Average daily trading value of the benchmark KOSPI and the tech-heavy KOSDAQ stood at 8.46 trillion won (US$7.3 billion) during the first six days of July, down
July 7, 2016