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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[Exclusive] Democratic Party of Korea forms US election task force
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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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Seoul seeks to improve foreign nanny program after two abscond
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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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Samsung, top banks to create W2tr green growth fund for SMEs
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[Newsmaker] Johnson withdraws from race for British PM
Leading Brexit campaigner Boris Johnson on Thursday ruled himself out of the race to succeed Prime Minister David Cameron in a bombshell announcement just a week after Britain voted to leave the EU.The decision by the former London mayor upended the leadership contest in the ruling Conservative Party and added to the deep uncertainty over how and when Britain will split from the bloc.The shock outcome of the June 23 referendum has led to massive political upheaval, with warnings about the count
World NewsJuly 1, 2016
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S&P cuts EU rating as warnings grow on Brexit’s impact
Ratings agency Standard and Poor‘s cut the credit rating for the European Union by one notch on Thursday saying that the bloc had grown more uncertain after Brexit.“After the decision by the U.K. electorate to leave the EU as a consequence of the June 23 consultative referendum, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” the agency said in a statement.According to the statement, S&P cut the EU’s rating to “
World BusinessJuly 1, 2016
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Green Climate Fund to inject $256.6m in climate change projects
[THE INVESTOR] The UN-operated Green Climate Fund has decided to inject US$ 256.6 million in climate change projects in nine developing countries, the Ministry of Strategy and Finance said July 1. The decision was made during the 13th board meeting of the GCF, held at its headquarters in Songdo, Incheon, from June 28 to 30. The newly approved projects include solar energy development program in Chile, projects to make coastal communities in Vietnam more resilient to climate change impacts and su
July 1, 2016
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[Highlights] Arts and entertainment calendar
Exhibitions “Wellknown Unknown”: Kukje Gallery is holding a group exhibition featuring seven young artists whose works cover a wide range of genres in contemporary art. Curated by Kim Sung-won, an independent curator, critic and art professor, the exhibition introduces seven artists and teams, including Kim Hee-cheon, Nam Hwa-yeon, Oh Min, Kim Young-na, Yi Yun-yi, EH and VERYTHINGS. They explore different and opposite sides of contemporary society such as appearance and disappearance, emergence
EntertainmentJuly 1, 2016
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End of tax cut casts shadow on H2 auto sales
[THE INVESTOR] The outlook for South Korea's automotive market in the second half of the year appears uncertain with the special tax cut ending as of July 1. The special consumption tax cut which was introduced to boost consumption ended on June 30. The government had cut the special consumption tax rate from 5 percent to 3.5 percent in August 2015 as a temporary measure. While the measure contributed to first half sales rise, its ending is expected to weigh down local carmakers in the second ha
MobilityJuly 1, 2016
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[Editorial] Abolishing privileges
One positive aspect of the multiparty system created by the April general election is that political parties are under stronger pressure than before to project a pro-reform image to win support from the public. The three major parties -- the ruling Saenuri Party, the main opposition The Minjoo Party of Korea and the minor opposition The People’s Party -- are acutely aware of the growing public demand for a new political culture. The public also demands higher ethical standards for lawmakers tha
EditorialJuly 1, 2016
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[Editorial] Protecting consumers
German carmaker Volkswagen’s $14.7 billion deal with U.S. customers and regulators is fueling a debate over the need for Korea to introduce punitive damages and class action lawsuits to bolster consumer protection. To settle its emission cheating scandal in the U.S., Volkswagen has offered to pay U.S. owners of its polluting vehicles -- nearly 475,000 TDI diesel cars -- as much as $10,000 per car in compensation. It has also agreed to buy back or repair the defective vehicles. While offering fa
EditorialJuly 1, 2016
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[Leonid Bershidsky] German chancellor is Britain’s best hope
The leaders of the remaining 27 European Union members have spoken on Brexit, and it would appear that they spoke with one voice. Could it be, however, that France and Germany, the EU-27’s two leaders, really have different approaches to handling the U.K.’s departure? The statement from their Brussels gathering this week was calm and firm: The U.K. should start the formal withdrawal process “as soon as possible,” but hopefully it will remain a close partner. It can, however, only be part of th
ViewpointsJuly 1, 2016
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[David Ignatius] Saudi Arabia‘s agent of change
For a kingdom that has survived by hedging its bets and resisting change, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman proposes a series of sweeping reforms: Saudi Aramco and other big, state-owned enterprises would be privatized; cinemas, museums and a “media city” would be created for a young population starving for entertainment; the power of the religious police would be curtailed; and, at some point, women would be allowed to drive. MBS, as the 30-year-old prince is known, propos
ViewpointsJuly 1, 2016
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Asiana replacing parts in A380 from delayed New York-Incheon flight
[THE INVESTOR] Asiana Airlines has grounded the Airbus A380 aircraft that experienced mechanical problems at the John F. Kennedy International Airport, it was revealed on July 1.According to industry sources, Asiana Airlines has grounded the concerned aircraft to replace the parts that caused the issue.On June 24, Asiana Airlines flight OZ2217 from New York to Incheon was delayed after sparks erupted from near one of the engines. The flight was delayed until the following day while Airbus and As
IndustryJuly 1, 2016