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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[H2 ECONOMIC POLICY] Gov’t offers tax-breaks for middling firms returning home
[THE INVESTOR] Middling companies that replace overseas production facilities with those based in Korea will be given a three-year exemption from corporate and income taxes, the Ministry of Strategy and Finance announced on June 27. In addition, the two taxes will be cut by half for additional two years after the initial exemption period. Any foreign worker from concerned companies’ overseas facilities hired to work in Korea will be provided with the E-7 visa, the ministry said. Middling compani
IndustryJune 28, 2016
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[H2 ECONOMIC POLICY] S. Korea cuts 2016 economic growth outlook to 2.8%
[INVESTOR] South Korea slashed its 2016 economic growth outlook by 0.3 percentage point to 2.8 percent, joining other private institutions that have already made downward revisions of their own growth estimates.The Finance Minstry’s latest forecast is on par with those made in April by the Bank of Korea, but is slightly higher than the 2.7 percent estimate by the International Monetary Fund.In 2015, the South Korean economy expanded 2.6 percent annually, decelerating from the previous year’s 3.3
June 28, 2016
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Dayou Winia eyes Chinese electric cooker market
[THE INVESTOR ] Dayou Winia, a Korean electronics firm, has joined hands with Haier, one of China’s leading electronics makers, to jump into the Chinese market,The Korean firm, well known for its electric rice cooker and kimchi refrigerator brand Dimchae, said it has signed a memorandum of understanding with the Qingdao-headquartered electronics firm for a partnership to sell its electronic cookers in China. Executives of Dayou Winia and Haier participate in an event to sign a sales partnership
IndustryJune 28, 2016
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[H2 ECONOMIC POLICY] Tax breaks and cashback for eco-friendly goods:South Korea
[THE INVESTOR] Tax breaks for replacements of old diesel cars and high-efficiency home appliances will be rolled out in the second half of the year, the Ministry of Strategy and Finance announced on June 28.Under the plans, those replacing diesel vehicles registered before Dec. 31, 2006 will be given a 3.5 percentage point cut in the special consumption tax of 5 percent for automobiles. Hyundai Motor EV Ioniq.The Finance Ministry said that the measure is aimed at weeding out old diesel vehicles
June 28, 2016
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Korean film agency opens global industry forum
Korea's state film agency opened a global forum here on Tuesday to shed light on global trends in the film and media industries and examine ways for Korean films to reach wider audiences abroad.The two-day forum hosted by the Korean Film Council consists of two sessions on the future of virtual-reality cinema and the new global content distribution strategy in the information-technology era.Speakers include creative producer Yelena Rachitsky of the U.S.-based Oculus Story Studio, a leading playe
EntertainmentJune 28, 2016
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Italians compete to perform in K-pop World Festival
A local preliminary for the 2016 K-pop World Festival took place in Milan, Italy, organizers said on Sunday (local time).A total of 13 teams competed in the event at Elfo Puccini Theater in Milan on Saturday to secure a ticket to perform in the main event scheduled to happen in Changwon, 398 kilometers southeastern of Seoul, in September. In the "Sing" category, Carma, a four-member female team, won with Mamamoo's "Mr. Ambiguous," while M2B, a 10-member mixed team, topped the "Performance" categ
EntertainmentJune 28, 2016
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Korea lags behind Japan in senior employment rate
The employment rate of Koreans in their late 50s and early 60s is far lower than that of its neighbor Japan due to a lack of policy measures to help them find jobs, a report said Tuesday.As of 2015, the employment rate for Koreans aged 55 to 59 came to 70.6 percent, compared with 83.4 percent for Japan, according to the report by Hyundai Research Institute.The rate for Korean citizens aged 60 to 64 stood at 59.4 percent, also lower than Japan's 62.2 percent. However, the figure for those aged 65
Social AffairsJune 28, 2016
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Hyundai Steel stock price target cut due to weak momentum
[THE INVESTOR] Hyundai Steel stock price target has been reduced to 62,000 won (US$52.41) from 67,000 won by Eugene Investment & Securities, citing the steelmaker’s limited earnings momentum in the second half of this year. “Hyundai Steel’s sales (excluding affiliates) for the second quarter are expected to grow 0.3 percent to 3.71 trillion won and its operating profit will fall 16.6 percent to 354.1 billion won which is in line with analysts’ estimates,” Bang Min-jin, an analyst at Eugene said.
June 28, 2016
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Samsung's dryer gets top marks from U.S. consumer reviewer
A clothes dryer manufactured by Korean tech giant Samsung Electronics Co. has received the best evaluation from a U.S. consumer magazine, beating those by foreign rivals, its publication showed Tuesday.Samsung's dryer, the DV22K6800E, clinched the top spot with 70 points out of 100 in the most recent review by Consumer Reports in the compact category. (Yonhap)U.S. rival General Electric's DCVH480EKWW came in second, followed by Bosch's WTG86402UC and Asko's T754CW, the magazine saidThe magazine
TechnologyJune 28, 2016
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[H2 ECONOMIC POLICY] South Korea proposes W10tr extra budget
[THE INVESTOR] The South Korean government said on June 28 that it will draw up a 10 trillion-won (US$8.45 billion) extra budget to cope with a myriad of economic challenges including slumping domestic and overseas demand, and Britain’s recent vote to leave the European Union.Including the proposed extra budget, the Finance Ministry said it would need to inject 20 trillion won into Asia’s fourth-largest economy this year by utilizing tax revenue surpluses and various state-run funds.“We will map
June 28, 2016
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Air and Space Museum celebrates 40th with new exhibit
WASHINGTON (AP) -- The Smithsonian National Air and Space Museum is opening its newly renovated Milestones of Flight gallery to the public.The Washington Post reports (http://wapo.st/290ZD5f) that starting Tuesday, visitors can see the Boeing Milestones of Flight Hall, which now has a huge interactive touch-screen display, revamped artifacts labels, the USS Enterprise from Star Trek and a lunar module like the one in the 1969 moon landing.Space artifacts curator Allan Needell says he hopes the l
CultureJune 28, 2016