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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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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Samsung, top banks to create W2tr green growth fund for SMEs
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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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Samsung denies rumors over its chief's death
Samsung Group denied rumors circulated Thursday that its chairman Lee Kun-hee, who has been hospitalized for over two years, has died.Earlier in the day, rumors that the 74-year-old has died and that the news will be made public at 3 p.m. were circulated around the local stock market and social media.Samsung Electronics Co., the flagship of South Korea's largest family-run conglomerate, said the rumors are "groundless," shortly after the Korea Exchange (KRX) demanded an explanation over the spec
Social AffairsJune 30, 2016
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Cram school tutor gets jail term for leaking SAT questions
The head of a private education institution has received a jail term for leaking questions from a U.S. college admissions test and teaching students with the material, court records showed Thursday.The Seoul Central District Court sentenced the defendant, identified only by her surname Kim, to a year in prison, suspended for two years, for obtaining questions of earlier Scholastic Aptitude Tests (SATs) from her acquaintances and students, and using them in classes in 2011. Previous tests are not
Social AffairsJune 30, 2016
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[Super Rich] Chaebol Cornell graduates with a hold on hotel business
With the prestigious Ivy League known to offer top-notch education, elites with a business family background are flocking to the U.S. universities to gain an edge for when they inherit the family business. One Ivy League institution located by the natural waterfalls in New York is especially known for its hotel management curriculum: Cornell. Graduates of Cornell University with a major in hotel management dominate the hotel industry. Cornell University (Cornell website)Of Cornell hotel manageme
IndustryJune 30, 2016
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[Graphic News] Single-income households account for 27%
The number of single-income households in Korea increased to 5 million last year, taking a 27.2 percent share of the total, according to data Thursday.Statistics Korea said the data also showed nearly half of all married couples were double-income families. The proportion of double-income families stood at 43.9 percent, which slightly increased from the previous year. What is notable is the increase of double-income couples living separately. Officials attributed the increase to massive relocati
June 30, 2016
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Juvenile delinquency increasingly violent
The number of teenagers committing violent crimes is rising at a rate that is cause for concern, according to the Korean National Police Agency on Wednesday. The KNPA’s data showed nearly 18,000 people below 19 were arrested nationwide between 2011 and 2015. Among the cases, 6,900 involved theft and robbery, while 4,500 involved violence and 2,700 were intellectual crimes. (Yonhap)In the period leading up to May this year, 1,044 teenagers were arrested and 547 of them had committed violent crime
Social AffairsJune 30, 2016
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Korean PEF to buy Outback Steakhouse Korea
[THE INVESTOR] South Korean private equity firm SkyLake Investment plans to acquire Outback Steakhouse Korea, the Australian-themed US restaurant chain. The Nasdaq-listed Bloomin’ Brands, which owns the chain, selected the PEF as a preferred bidder for its 100 percent stake in the restaurant, according to sources in the investment banks industry on June 30.Outback Steakhouse KoreaBloomin’ Brands and SkyLake Investment are expected to ink a stock purchase agreement as early as July 1 in a deal wo
June 30, 2016
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Good deed paid off 34 years later
The story of a woman who remembered to pay off a good deed 34 years later on Wednesday is receiving warm reactions from the public.The 63-year-old woman surnamed Kang remitted 7.1 million won ($6,150) to the Presbyterian Medical Center in Jeonju, North Jeolla Province, which was the amount she owed the hospital for the life-saving medical care her husband received some 34 years ago. Presbyterian Medical CenterKang’s husband suffered a serious car accident in April 1982 when his car collided head
Social AffairsJune 30, 2016
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Seoul Viosys wins US patent suit
[THE INVESTOR] Seoul Viosys announced on June 30 that it has won a patent suit against US-based firm Salon Supply Store. Seoul Viosys is a subsidiary of Seoul Semiconductor that specializes in UV light-emitting diodes. Seoul Viosys had filed the suit in March accusing Salon Supply Store of using patented technologies including technology related to UV ray-generating epi, fab technology, packaging technology that combines the devices, and curing technology.Salon Supply Store has been ordered to c
IndustryJune 30, 2016
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Nexon brings new mobile RPG ‘HIT’ to global markets
[THE INVESTOR] Game developer Nexon said on June 30 that its mobile role-playing game “HIT” will be released in global markets on July 7.The mobile game, which will support 10 languages including English, Chinese, German, French, and Thai, is to hit 140 global markets.But two neighboring countries Japan and China were excluded for the launch.“Japan is different from other markets as animation-inspired games featuring cute characters mostly top the mobile game chart, so we are planning to enter t
TechnologyJune 30, 2016
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Yozma hints at US$100m funding for Korean biotech ventures
[THE INVESTOR] Yozma Group chairman Yigal Erlich on June 30 hinted at new funding worth up to US$100 million in Korea’s biotech venture firms. Yozma Group chairman Yigal Erlich The head of the leading venture capitalist based in Israel was visiting Seoul to attend a conference among bioscience experts and industry officials. Touting Korea’s advanced medical techniques, he showed expectations about the growth potential of the nation’s biotech industry. During his visit, Yozma Group also signed a
Latest NewsJune 30, 2016
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Korea to hold biennial ADEX defense expo in late 2017
The Korea-hosted biennial defense expo Seoul International Aerospace & Defense Exhibition will be held in October next year to bring together some 400 global defense manufacturers, the event's organizer said Thursday.The exhibition, more widely known as ADEX, has been scheduled to run from Oct. 17-22 in 2017 at Seoul Air Base in Seongnam, adjacent to southern Seoul, according to the organizer.The biggest defense fair in the Asia Pacific region is expected to put together some 400 defense firms f
Social AffairsJune 30, 2016
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Korea to sell 7 tln won worth of state bonds in July
Korea plans to sell 7 trillion won ($6.07 billion) worth of state bonds next month, the finance ministry said Friday.The government will issue 1.7 trillion won worth of bonds with a maturity of three years and 1.5 trillion won worth of five-year bonds.It also plans to sell 1.9 trillion won worth of 10-year bonds and a combined 1.9 trillion won with a maturity of between 20 and 30 years.The ministry said it sold 10.7 trillion won worth of state debt in June. (Yonhap)
June 30, 2016