Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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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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Malnutrition cases nearly triple in last 5 years
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KFA Chair denies unfair hiring of national coach
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An increasing number of K-pop idols are breaking free from big agencies. Why?
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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Korean automakers pressured to diversify supply chains as US bans Chinese tech
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[Herald Interview] Portraying a version of god for young people in 'Hadestown'
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Park's 'Vietnam' analogy causes diplomatic unease
President Park Geun-hye’s repeated reference to Vietnam’s forceful unification as a negative political analogy has come into dispute for lacking diplomatic courtesy toward a longstanding trade partner. “When (South) Vietnam was defeated and collapsed, the main reasons were internal splits and (public) apathy, the two most threatening elements of state crisis,” said the president on Monday in a meeting with chief secretaries.Park’s remarks came amid her calls for public unity in the face of North
PoliticsJune 28, 2016
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ViroMed initiates Phase 3 clinical study on diabetic neuropathy treatment
[THE INVESTOR] ViroMed, a Korean biotechnology firm, said on June 28 that it has started the Phase 3 clinical trials of VM202, a proprietary DNA based biopharmaceutical, for patients with painful diabetic peripheral neuropathy. According to the company, it is the first pivotal gene therapy trial specifically targeting the most common cause of severe neuropathy, and follows the successful completion of a Phase 2 trial conducted at Northwestern University and multinational sites in the US and Kore
IndustryJune 28, 2016
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S. Korea welcomes Putin-Xi agreement on N. Korea
South Korea on Tuesday welcomed China and Russia's resolve to oppose North Korea's nuclear and missile programs and implement U.N. sanctions against Pyongyang.Speaking at a regular press briefing, Foreign Ministry spokesman Cho June-hyuck said Seoul "welcomes" the statement issued after Saturday's summit between Chinese President Xi Jinping and Russian President Vladimir Putin, who expressed their opposition to the North's nuclear and missile strategy.The summit came days after Pyongyang claimed
Diplomatic CircuitJune 28, 2016
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Prosecutors confirm death of Korea's most notorious conman
Prosecutors confirmed Tuesday that the mastermind behind the country's largest-ever fraud case died in 2011, wrapping up their two-year-long investigation.The Daegu District Prosecutors' Office said Cho Hee-pal died of an acute myocardial infarction in Weihai, China in December 2011, confirming the police's announcement made earlier in 2012. He fled to the neighboring country in 2008 when an investigation was launched.He is suspected of orchestrating a 5 trillion won ($4.2 billion) fraud scheme,
Social AffairsJune 28, 2016
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[Newsmaker] Ex-DSME chief taken into custody
Former Daewoo Shipbuilding and Marine Engineering CEO Nam Sang-tae was taken into custody early Tuesday amid the widening probe into a massive accounting fraud. The Seoul Supreme Prosecutors’ Office said it was holding Nam in its custody, following a half-day questioning on Monday as a suspect in the alleged window dressing. It has found new allegations and spotted signs of destroying evidence, it added. (Yonhap)The office plans to ask the court to issue an arrest warrant for him on Wednesday. T
IndustryJune 28, 2016
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Ministry plans drug vending machines
The South Korean government said Tuesday that it will propose a revision bill to the current pharmaceutical law, in order to enhance the availability of medicine and first-aid medical supplies to citizens.The Ministry of Health and Welfare said they are preparing to propose the revision by Aug. 28. If the bill passes, pharmacists will be allowed to install medicine vending machines in front of their pharmacies.The Pharmaceutical Affairs Act states in Article 50 that an owner or a seller who runs
Social AffairsJune 28, 2016
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Korea needs W26tr in extra budget: think tank
[THE INVESTOR] Korea will need as much as 26.6 trillion won ($22.5 billion) in supplementary budget to weather negative elements from external and internal economic conditions, a think tank said on June 26. In a report published on June 26, Hyundai Research Institute said that Korea needs between 11.5 trillion won and 26.6 trillion won in supplementary budget to offset negative factors at home and abroad. According to the report, Korea has about 113 trillion won remaining in this year’s budget t
June 28, 2016
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Hyundai Merchant restructuring to be extended by one month
[THE INVESTOR] Hyundai Merchant Marine said on June 28 that it will stay bound to creditor-led reforms for one more month until late July. The firm said this was because it was taking longer than expected to meet some of the conditions put forth by its creditors for agreeing to the 90-day restructuring.One of the conditions was to join a global shipping alliance, and this has met some challenges, the firm said. The other two are a debt recast and a charter rate cut.Hyundai Merchant said it has b
IndustryJune 28, 2016
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Taeyeon tops charts with ‘Why’
Taeyeon of Girls’ Generation topped domestic music charts with “Why,” released at midnight on Monday.By Tuesday morning, the title track off her second EP had topped six domestic music charts: Mnet, Genie, Bugs, Naver Music, Olleh Music, Soribada. “Why,” a trendy pop tune composed by world-class producing team LDN Noise, presents a unique sound infused with rhythm and blues and electronic dance music, said the singer’s agency S.M. Entertainment.By Monday, more than 100,000 albums had been preord
PerformanceJune 28, 2016
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'How to be a good father': Ministry publishes parenting guide for men
As part of its efforts to encourage young fathers to actively participate in child care and eventually boost the nation’s low fertility rate, the South Korean government has come up with a parenting guidebook for fathers-to-be.The booklet, which looks like a notepad, consists of practical tips for men during and after their partners’ pregnancies, including what to bring to the delivery room, how to take care of children up to the age of 5 and things like how the sound of rubbing plastic bags can
Social AffairsJune 28, 2016
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Campaigners, experts blast use of police water cannons
Foreign and local experts from human rights organizations and academia addressed on Tuesday the danger of the use of water cannons by South Korean police at street rallies and called for better protection of human rights in keeping the public order. An association of human rights organizations investigating the use of police force in last year’s antigovernment rallies held a symposium in Seoul, bringing together a former German judge, a British campaigner and Korean activists and scholars.The ev
Social AffairsJune 28, 2016
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Budget carrier Jin Air to start Incheon-Cairns service
Jin Air Co., the budget unit of Korean Air Lines Co., said Tuesday that it will launch a flight service to Cairns, a holiday destination on the northeast coast of Australia, later this year.Jin Air said that it will deploy its B777-200ER aircraft equipped with 393 seats on the Incheon-Cairns route twice a week for about two months, starting Dec. 14.The carrier said it will decide whether to keep the route after the temporary service is over.Australia is a popular holiday destination for Koreans.
IndustryJune 28, 2016
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Market rebounds on Korea’s plan for extra spending
Investor confidence was restored Tuesday with the market responding positively to the South Korean government’s plan for extra spending in the second half of this year to cushion the economy from internal and external shocks.The benchmark KOSPI edged up 0.49 percent at 1,936.22 on continued institutional buying, after opening with a loss following overnight selloffs on Wall Street. (Yonhap)But the Seoul equity index soon headed for an upswing as the Finance Ministry announced that it will aggres
June 28, 2016
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[Michael Smerconish] Are we really that angry?
Anger is clearly the buzzword of the 2016 presidential campaign, especially on the GOP side of the aisle. Google the word with Republican and, like me, you might get more than 24 million hits (vs. 606,000 when matched with Democrat).I have watched the angry storyline take hold. On roughly a dozen occasions during this campaign season, I was a CNN election-night panelist. If you watched, you may have seen my colleagues and me with our faces buried in laptops. Often we were analyzing exit surveys
ViewpointsJune 28, 2016
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Jeonnam Dragons sign Aussie-born defender
Korean football club Jeonnam Dragons said Tuesday they are set to sign defender Tomislav Mrcela from Croatian club NK Lokomotiva Zagreb.Jeonnam, currently 10th in the top-flight K League Classic, said that the 25-year-old center back, who holds dual citizenship in Australia and Croatia, will join the club after a medical test. (Jeonnam Dragons)Jeonnam, three-time champions of the Korean Football Association Cup, have yet to disclose the details of his contract.Mrcela made his pro debut in 2011 w
SoccerJune 28, 2016
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Celltrion on track to release world’s first flu-targeting therapeutic antibodies
Celltrion said Tuesday that it is on track to introduce the world’s first therapeutic antibody for the treatment of universal influenza, as the new drug will begin the second part of its phase II clinical trials by the end of this year. The South Korean biopharma company, best known for its biosimilar drugs that reference blockbuster biologic drugs like Remicade, is currently preparing its new influenza drug CT-P27 for phase II 2b trials.Celltrion said it has yet to determine where the next-step
IndustryJune 28, 2016
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[Herald Interview] Korean-British artist duo creates physical expressions of light and space
GWANGJU -- The name of the Seoul-based artist duo Kimchi and Chips pretty much tells where the artists are from. Korean-British artist duo Mimi Son and Elliot Woods formed an art studio in 2009, adopting the quirky name. Since then, the two have been creating installations that challenge people’s perception of light and space and presenting them at museums and galleries throughout the world. One of the most well-known works is the first edition of the “Light Barrier” series in which the artist
PerformanceJune 28, 2016