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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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Middle East’s big AI push lures Korean tech firms
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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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Seoul seeks to improve foreign nanny program after two abscond
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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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Latecomer LG Pay to feature IC chip, one-time password
[THE INVESTOR] LG Electronics’ mobile payments service LG Pay -- expected to debut in September -- will feature more diverse functions such as an integrated circuit chip and one-time password, industry sources said on July 6. Unlike its app-based rivals such as Samsung Pay, the LG service is expected to come as a tangible smart card.LG had planned to launch the service within the first half of this year but the plan was delayed to extend partnership with local banks and card companies. Unlike ot
TechnologyJuly 6, 2016
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Samsung Display accelerates transition from LCD to OLED
[THE INVESTOR] Samsung Display, the display business arm of Samsung Electronics, is ramping up its efforts to outpace its rivals in the organic light-emitting diode display sector. As a part of this strategy, the firm is planning a quick transition from liquid-crystal display to OLED at its L7 plant in South Chungcheong Province. The plant currently runs two LCD assembly lines. “Samsung Display will cease the operation of both lines at the L7 plant by the end of this year and replace LCD equipme
TechnologyJuly 6, 2016
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Toshiba takes on Samsung with US$14.6b investment deal
[THE INVESTOR] Japanese tech firm Toshiba and US hard-disk maker Western Digital will jointly invest 1.5 trillion yen (US$14.6 billion) over the next three years to beef up their flash memory production. The partnership is expected to help Toshiba catch up with Samsung Electronics in the 3-D NAND flash memory sector. Under the latest deal, Toshiba and Western Digital will add a new chip fabrication facility in their existing joint chip-manufacturing plant in Japan’s Yokkaichi complex of Mie Pref
MobilityJuly 6, 2016
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Rep. Choi says he will not run in Saenuri leadership election
A leader of a Saenuri Party faction loyal to President Park Geun-hye on Wednesday said he won't run in the ruling party's leadership election slated for August, urging an end to relentless factional feuds.Rep. Choi Kyung-hwan, a former finance minister, also pledged to dedicate himself to fostering unity in the party and securing the party's win in the presidential election slated for December next year."For the Park Geun-hye administration and Saenuri Party to regain public trust, I will serve
PoliticsJuly 6, 2016
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Korea considers granting decoration to late Japanese journalist
Korea is considering granting a state decoration to a late Japanese journalist for his life-time contribution to improving bilateral ties between the two neighboring countries, a foreign ministry official said Wednesday.Yoshibumi Wakamiya, a former editor-in-chief of the Asahi Shimbun, died in April. The 68-year-old Japanese journalist was known for his articles and columns that placed great emphasis on the importance of Japan-Korea relations.Saenuri Party Rep. Choi Kyung-hwan speaks during a pr
Social AffairsJuly 6, 2016
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AIIB considers financing SK E&C-led consortium
[THE INVESTOR] The Asian Infrastructure Investment Bank plans to finance a SK Engineering and Construction-led infrastructure project, the Ministry of Land, Infrastructure and Transport said on July 5. The AIIB is considering lending US$ 75 million to the South Korean consortium to build a peripheral ring road in Almaty, Kazakhstan. During the AIIB’s first annual meeting held in Beijing in June, the bank announced its plan to finance the Almaty highway, along with four other projects The bank wi
IndustryJuly 6, 2016
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Tally shows S. Korea's companies mostly "middle-aged"
Close to half of Korea's top 500 companies are over 40 years old while less than 20 percent of them are young aspirants, a corporate analysis showed Wednesday, an indication that the country's corporate community is pretty much static.Business evaluation site CEO Score tallied the age of the 500 firms ranked by sales and found they averaged 37.6 years old. The birth date of the firms were measured by the date of their corporate registration, and state firms and companies formed through mergers a
Social AffairsJuly 6, 2016
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S. Korea, Russia to hold high-level talks on N. Korea, Far East
South Korea and Russia will hold a series of high-level talks this week to expand cooperation over North Korea's nuclear program and the development of Russia's Far East region, Seoul's foreign ministry said Wednesday.The meetings will take place in Moscow on Thursday and Friday, with Deputy Foreign Minister Kim Hyoung-zhin representing the South Korean side. Russia will be represented by Deputy Foreign Minister Igor Morgulov during the policy talks on Friday and by First Deputy Far East Develop
Diplomatic CircuitJuly 6, 2016
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Lotte Giants acquire new American outfielder
The Korean baseball club Lotte Giants have acquired a new American outfielder.The Korea Baseball Organization team on Wednesday announced the signing of Justin Maxwell to a $280,000 contract for the remainder of the season. The 32-year-old replaces Jim Adduci, who was waived last week after failing a doping test. (Lotte Giants)Maxwell has 441 major league games to his credit but has been playing for the Boston Red Sox's Triple-A affiliate Pawtucket, hitting .219 with five home runs and 25 RBIs
BaseballJuly 6, 2016
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Foreign carmakers' H1 sales show first year-on-year drop since 2009
[THE INVESTOR] Imported vehicle sales for the first half of the year dropped 2.6 percent from a year ago, industry data showed on July 6. This is the first time first half imported car sales have shown year-on-year decline since 2009. During the first half of the year, 116,749 units of imported cars were sold on the South Korean market, dipping 2.6 percent compared to the same period last year, Korea Automobile Importers and Distributors Association data showed.BMW320d / BMWJune sales declined 3
MobilityJuly 6, 2016
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Lotte Homeshopping’s massive entertainment expenses raise questions
[THE INVESTOR] Lotte Homeshopping racked up 6.2 billion won (US$ 5.3 million) entertainment expenses in 2014 and 2015, data showed on July 6.According to Chaebul.com’s analysis of Lotte Group’s consolidated financial statements for the 2008-2015 period, Lotte Homeshopping spent 13.9 billion won in entertainment expenses during the period. More than half of that was spent since the launch of the Park Geun-hye administration. The figure for 2013 to 2015 came to 8 billion won. Chaebul.com is a webs
IndustryJuly 6, 2016
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Hanwha chairman bets on solar energy for future growth
[THE INVESTOR] It can’t be denied that the South Korean economy is dominated by conglomerates. And while they may appear to be pretty much the same on the outside, each is busy seeking their own individual strategy for the future.Hanwha Group is no exception to this. On July 5, Hanwha Group chairman Kim Seung-youn visited the company’s solar energy cell plant in Chungcheong Province. During the hourlong tour, Kim proclaimed the group’s vision of fostering solar energy as its next growth engine.H
IndustryJuly 6, 2016
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Banks' loan delinquency rate rises in May
The delinquency rate for loans extended by Korean banks slightly rose from a month earlier in May, but largely due to an increase in bad corporate loans, the financial watchdog said Wednesday.The average delinquency rate for bank loans came to 0.74 percent in May, up 0.1 percentage point from the previous month, according to the Financial Supervisory Service.The May tally hit the highest level since November. The increase, however, was largely attributed to a rise in corporate loans, especially
July 6, 2016
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N. Korea to send at least 36 athletes to Rio Summer Olympics: report
North Korea will send at least 36 athletes to this year's Summer Olympics in Rio de Janeiro, Brazil, a U.S.-based media report said Wednesday.Radio Free Asia said North Korea will be represented in nine sports, including weightlifting and marathon. Olympic qualification is still underway in boxing and some other sports, and the North Korean delegation could grow in the coming days.The 31st Summer Olympics will take place from Aug. 5-21. RFA noted that six male and four female weightlifters were
SportsJuly 6, 2016
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N.K. warns of 'due punishment' over tension along border with S. Korea
South Korea and the United States will face "due punishment" if they continue to make military provocations along the tense inter-Korean border, North Korea warned Wednesday.The mission of the Korean People's Army at the truce village of Panmunjom released an open letter disclosing what it called the gravity of military provocations waged by South Korea and the U.S. along the military demarcation line, according to the North's official Korean Central News Agency."It is no exaggeration to say tha
North KoreaJuly 6, 2016