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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[Exclusive] Democratic Party of Korea forms US election task force
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Middle East’s big AI push lures Korean tech firms
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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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N.K. claims production tops target due to 200-day hard-work drive
North Korea claimed Tuesday that the country's industrial production exceeded its target last month as it started the 200-day campaign to push its people into working harder.North Korea's industrial production, including coal and electric power, increased 1.2 times in the first month that it launched its hard-work drive, according to the North's main newspaper, the Rodong Sinmun.After the ruling Workers' Party of Korea congress concluded in May, the North kicked off the so-called 200-day campaig
North KoreaJuly 5, 2016
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Demand for bank loans expected to shrink in Q3: survey
Demand for fresh loans from major commercial banks in Korea is expected to shrink in the third quarter, a poll showed Tuesday, amid a government move to stem a surge in household debt.The overall index measuring demand for fresh bank loans came to 9 for the July-September period, down from 10 in the previous quarter, according to the Bank of Korea.A reading above zero means bank lending will continue to increase, while a reading below the benchmark means demand will likely shrink. The quarterly
July 5, 2016
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Samsung Electronics' American employees form political committee
Local employees of Samsung Electronics America have reportedly established a political action committee in the United States in the run-up to the presidential and congressional elections in November, industry sources said Monday.Samsung Electronics America Inc. PAC officially registered with the Federal Election Commission earlier this year and has so far raised $17,000, they said.A PAC is an organization that pools campaign contributions and donates the funds to candidates that they support. Mo
IndustryJuly 5, 2016
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Visa says will raise card fees from 2017 in Korea
Visa Inc., a global payment network company, said Tuesday it will raise the fees for overseas credit card purchases using its networks it receives from South Korean credit card companies starting next year.In May, Visa notified Korean card firms of its planned fee hikes from October 2016. In June, the country's eight card issuers sent a joint letter to protest the planned hikes in Korea because there were no such plans in Japan and China. In a reply letter sent on July 1 to the Credit Finance A
IndustryJuly 5, 2016
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Beast returns as five-member group with new album
After a yearlong hiatus, boy band Beast has returned as a five-member group with its third full studio album “Highlight” released on Monday. This marks the group’s return to the spotlight after one of its members Jang Hyun-seung left the band in April to pursue a solo career. Within one day of the album’s release, its lead track “Ribbon” topped eight domestic music charts, including MelOn, Mnet, Bugs, Olleh Music, Naver Music, Soribada, Genie and Monkey3. The rhythm and blues tune “Ribbon” is a
PerformanceJuly 5, 2016
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Georgia O’Keeffe gets big London show
LONDON (AP) -- Georgia O’Keeffe has come to London, like a bracing American desert wind rippling the River Thames.An exhibition of more than 100 works opening this week at Tate Modern is the American art icon’s biggest-ever show outside the United States.Curators hope it will surprise visitors who know the artist mainly for her giant flowers and sun-bleached animal skulls. The exhibition also offers O’Keeffe the pioneering abstract artist, O’Keeffe the surrealist and O’Keeffe who painted New Yor
PerformanceJuly 5, 2016
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International art market to draw thousands to New Mexico
SANTA FE, New Mexico (AP) -- From the plains of Africa to war-torn countries in the Middle East, nearly 200 artists from around the world will be showing off their traditional crafts during the world’s largest folk art market. The International Folk Art Market, now in its 13th year, will feature wares from every corner of the globe, whether fine embroidery or handwoven baskets. Artists from more than 60 countries will help kick off the festivities that run Friday evening through Sunday on Santa
PerformanceJuly 5, 2016
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Korean gov’t overhauls service industry support measures
[THE INVESTOR] The service industry will get larger tax breaks and financial support funds, under the government’s “Service Economy Development Strategy” announced on July 5. The measures will be applied across the service sector, excluding adult entertainment businesses. The government also plans to review more than 200 regulations and remove those deemed detrimental to the industry. Regarding tax benefits, the service industry will be given the same benefits as the manufacturing sector, the go
IndustryJuly 5, 2016
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Naver upgrades tourist services ahead of PyeongChang Olympics
[THE INVESTOR] South Korea’s No.1 portal Naver has unraveled plans to beef up its online services aimed at foreign tourists ahead of the 2018 PyeongChang Winter Olympics, the company spokesperson said on July 5. Naver estimes 5 million tourists -- including 50,000 foreign visitors -- to participate in the Winter Olympics in 2018. The portal’s e-services -- mobile map, search engine, and booking – will be renovated. A global login and payment system is also being considered.The firm revealed its
TechnologyJuly 5, 2016
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N. Korea blasts U.S. deployment of B-52 bombers around the Korean Peninsula
North Korea blasted the United States for its recent joint training exercise with Japan which involved two long-range bombers being flown around the Korean Peninsula.Pyongyang's criticism was made by the country's official Korean Central News Agency, which said that the U.S. forces sent a pair of B-52 strategic bombers to fly over the skies near South Korea last month. It added that planes belonging to the Japanese Air Self-Defense Force took part in the maneuvers that targeted North Korea, the
North KoreaJuly 5, 2016
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Korean firms already outrun by Chinese rivals: KERI
Chinese companies have already outrun Korean rivals in competitiveness and are quickly catching up in the high technology sector, an analysis by a private economic think tank said Tuesday.The Korea Economic Research Institute evaluated the non-financial listed firms of the two countries with 2007 and 2014 as comparison points. Assessment guidelines had eight areas, such as profitability and asset size.According to the analysis for 2014, Chinese counterparts outperformed South Korean companies in
July 5, 2016
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Korean shares down in late morning trade
Korean shares remained in negative terrain late Tuesday morning as investors sought to lock in early gains.The benchmark Korea Composite Stock Price Index lost 5.96 points, or 0.30 percent, to hit 1,989.34 as of 11:20 a.m. Institutions and foreign investors were net sellers, offloading a combined net 127 billion won ($110 million).On Monday, the KOSPI advanced 0.03 percent, further recovering from losses sparked by Britain's vote to leave the European Union two weeks ago. Last week, the index ha
July 5, 2016
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Hyundai Motor to operate self-driving taxis at research center
[THE INVESTOR] Hyundai Motor Group plans to operate self-driving taxis at its research center in Namyang, Gyeonggi Province, from later this month, a local newspaper reported on July 6. MoneyToday, citing unnamed company officials, reported that a total of five autonomous taxis, based on Hyundai’s fuel-cell sport utility vehicle Tucson ix and the Ioniq hybrid compact, will be operated. Hyundai’s Genesis sedans drive on autopilot mode at the carmaker’s Nevada research center. / Hyundai MotorThe N
MobilityJuly 5, 2016
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Big Korean pharma firms launch venture capital biz
[THE INVESTOR] A handful of Korean pharmaceutical companies are scurrying to set up venture capital firms to find new revenue sources by investing in smaller firms in need of capital. Hanmi Pharm announced on July 4 that it has founded a 10 billion won (US$ 8.7 million) investment company that will invest into biotech and pharmaceutical fields. “We will contribute to create an open innovation ecosystem by focusing on discovering new drug candidates and pharmaceutical and biotech start-ups,” said
IndustryJuly 5, 2016