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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Gov't to issue approval to new budget carrier Air Seoul
The government plans to give a final approval to Air Seoul, a new low-cost carrier of Asiana Airlines Inc., this week for operations, an official said Tuesday.The Ministry of Land, Infrastructure and Transport is set to issue an Air Operator Certificate to Air Seoul on Wednesday, said Kang Jung-yun, an official handling the issue at the ministry.Winning the certificate is the final step before a carrier can begin its transport operations.Air Seoul plans to begin four daily flights starting next
Social AffairsJuly 5, 2016
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Weather agency issues downpour warning for Seoul
Korea's weather agency issued a heavy rain warning for Seoul and central regions of the peninsula Tuesday.The daily precipitation of the capital city was 52.5 millimeters as of 9 a.m.The Korea Meteorological Administration issues downpour warnings when the amount of rainfall within six hours is predicted to be 110 mm or over. The warning is also issued when the total amount of precipitation is expected to be 180 mm or more within 12 hours.The torrential rain warnings have also been issued for In
NationalJuly 5, 2016
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Korean biotech firms challenge gene medicine market
Korean biotech companies are working their way into the global gene-based medicine market that is estimated to exceed $790 million next year, an institutional report and researchers said Tuesday.Kolon Life Science, Sillajen and Viromed are conducting four of the 25 phase-3 clinical trials for gene medicine under way around the globe, with Kolon pursuing what may be the world's first such medicine for osteoarthritis.According to a report from the Biotech Policy Research Center, the global gene me
TechnologyJuly 5, 2016
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Korea to foster service industry as new growth engine
The Korean government said Tuesday that it will foster the local service industry over the coming five years as the country's new growth engine, while the country's backbone manufacturing sector has been struggling for years amid faltering exports.In an economy-related ministers' meeting held in Seoul, the government endorsed the plan to give higher tax rewards and research and development incentives to the service sector in a way that transforms the nation's manufacturing-oriented economy."The
BusinessJuly 5, 2016
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USFK veterans to launch fraternity group this year
Former United States servicemen who served in Korea will launch a fraternity group this year with a membership hovering at some 3.5 million veterans, local defense officials said Tuesday.Efforts are underway to establish the Korea Defense Veterans Association sometime within this year under the sponsorship of diplomatic and defense authorities of both the U.S. and South Korea, an official source said. The KDVA, if established as planned, will help bring together U.S. Forces Korea veterans who w
Diplomatic CircuitJuly 5, 2016
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Budget carrier Air Seoul ready for take-off
[THE INVESTOR] Air Seoul, Asiana Airline’s new low-cost carrier, has passed all government safety inspections and will begin services next week. The Ministry of Land, Infrastructure and Transport said on July 5 that it has given its final approval to Air Seoul and will issue an Air Operator Certificate the following day. The ministry had formed a team for document-screening and onsite inspection to check the airline’s facilities and other operational capabilities for the past five months. Starti
IndustryJuly 5, 2016
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Financial watchdog seeks foreign banks’ support in Brexit countermeasures
[THE INVESTOR] Financial Supervisory Service Governor Zhin Woong-seob on July 5 called on foreign financial institutions to cooperate with the government in responding to any fallout from UK’s departure from the European Union. “Cooperation between the supervisory agency and foreign financial companies is needed to minimize negative impact of Brexit,” Zhin said at a meeting with the CEOs of the 15 foreign financial companies’ Korean operations. FSS Governor Zhin Woong-seobHe added that the gover
July 5, 2016
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Liquor brands rely on top celebrities for marketing
Liquor companies, barred from public spaces and airtime, are resorting to top celebrities for maximized advertisement effect, according to industry officials Tuesday.The government has been tightening regulations on liquor ads, revising the law on national health improvement. Recent changes include barring liquor ads on TV from 7 a.m. to 10 p.m. to limit minors' exposure to them. Advertising on radio, the internet and public transportation are also restricted.Liquor companies are trying to work
IndustryJuly 5, 2016
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Korean shares open lower on institutional selling
Korean shares opened a tad lower Tuesday as institutions and foreign investors sought to lock in early gains.The benchmark Korea Composite Stock Price Index lost 5.15 points, or 0.26 percent, to 1,990.15 in the first 15 minutes of trading. Foreigners and institutional investors were net sellers.The KOSPI gained 0.03 percent Monday, further recovering from losses sparked by Britain's vote to leave the European Union two weeks ago. The index had gained 3.19 percent last week. Large market caps tra
July 5, 2016
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Doosan Bobcat applies for IPO approval in Korea
Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, has applied for preliminary approval for its initial public offering planned for this year, the country's main bourse said Tuesday.Doosan Infracore Co. and Doosan Engine collectively own a majority 78.4 percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. Doosan Bobcat is a leading player in the small-sized construction machinery sector in the United States and Europe, the main exchange
IndustryJuly 5, 2016
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Lawmakers seek tougher control on corporate governance
[THE INVESTOR] A revised Commercial Act that would strengthen measures to keep major shareholders in check was proposed on July 4 with the backing of 120 lawmakers. South Korea’s National Assembly consists of 300 seats. If approved, individuals who hold more than 1 percent stake in a company will be able to file a suit against a subsidiary’s management whose malpractice caused irrevocable damage to the concerned companies. Rep. Kim Chong-in / The Investor(Park Hae-mook)The revision also stipulat
IndustryJuly 5, 2016
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Korea to invest 42 tln won in renewable energy industry by 2020
Korea will invest a combined 42 trillion won ($36.6 billion) into the renewable energy sector by 2020 as part of efforts to expand the environmentally friendly power supply system in the country, the trade ministry said Tuesday.Under the plan, new renewable power stations will be built by 2020 to produce 13 million kilowatts of electricity annually, an equivalent to that of 26 coal plants, according to the Ministry of Trade, Industry and Energy.In order to attain the goal, the ministry said it w
Social AffairsJuly 5, 2016
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Dodgers' Ryu Hyun-jin to return from shoulder surgery this week
Los Angeles Dodgers pitcher Ryu Hyun-jin will return to the big leagues this week after recovering from shoulder surgery, his manager announced Monday.Before the Dodgers opened a three-game series against the Baltimore Orioles at Dodger Stadium, Dave Roberts told reporters the South Korean left-hander will start against the San Diego Padres at home Thursday.It will be a 7:10 p.m. start local time. That's 11:10 a.m. Friday in Korea.Ryu went under the knife to repair a torn labrum in his pitching
BaseballJuly 5, 2016
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Jaguar Land Rover Korea to recall 4,980 vehicles
Jaguar Land Rover Korea Co., the local importer of the British car brand, will recall a combined 4,990 units of Jaguar and Land Rover vehicles for safety reasons, the transportation ministry here said Tuesday.The license plate lamp of the Land Rover Discovery Sports Diesel has been found to sometimes separate from the car due to a possible crack, according to the Ministry of Land, Infrastructure and Transportation.Subject to the recall are 2,783 units of the vehicle model produced between Sept.
IndustryJuly 5, 2016