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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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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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Korea to consider bilateral free trade pact with Britain: foreign minister
Korea will consider a bilateral free trade deal with Britain in response to its exit from the European Union, Seoul's top diplomat said Friday.Foreign Minister Yun Byung-se told lawmakers during a session of the parliamentary foreign affairs and unification committee that his ministry, in coordination with the trade ministry, will draw up "various measures," including a Korea-Britain free trade agreement, after Britons opted to leave the EU in a landmark referendum Thursday."Some experts at home
June 24, 2016
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Brexit batters Seoul financial markets
Like elsewhere in the world, Seoul’s financial markets took a heavy beating from Britain’s decision to leave the European Union on Friday, as panicky investors dumped emerging-market assets in a global flight to safety. KOSPI stocks fell 3 percent, while the local currency shed nearly 2.6 percent against the dollar. Government officials swiftly went into emergency mode, vowing to use “all means possible” to help stabilize markets. Despite the panic on the financial markets, some private economis
June 24, 2016
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Park shifts focus to security after addressing airport quandary
After clearing a politically-charged quandary over the construction of a new airport earlier this week, President Park Geun-hye is now shifting her policy focus to security -- a topic that helps appeal to her conservative supporters and foster national unity.Over the last several days Park has made a series of public statements that warned of additional North Korean provocations and called for a "watertight" readiness posture in all security realms including cyberspace.Her security mantra was bo
PoliticsJune 24, 2016
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Latest test reveals N. Korean missile capable of flying 3,500 km: military
North Korea's latest test of its Musudan mid-range missile indicates that the country is capable of firing a missile with a range of 3,500 kilometers, South Korea's military officials said Friday.In the latest test fire of the intermediate-range ballistic missile (IRBM) which the North calls the Hwasong-10, one of the two that were launched soared to an altitude exceeding 1,000 km and flew some 400 km before hitting the East Sea.The North launched the missiles on Wednesday near Wonsan on their e
North KoreaJune 24, 2016
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Gyeonggi seeks additional duty-free licenses
Gyeonggi Province has proposed giving licenses to duty-free outlets in large exhibition facilities and changing the standard for additional licenses, according to the provincial government Thursday.On June 2, the Gyeonggi government submitted a proposal to the Korea Customs Service asking for changes to the current regulations concerning duty-free licenses in the area.Under current KCS regulations, each provincial government is permitted to grant one new duty-free license for on-year increases o
IndustryJune 24, 2016
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Lunch boxes top sales at convenience stores
The soaring popularity of lunch boxes has made it one of the top-selling products at Korea’s convenience stores, according to data Friday.Convenience store chain CU said that for the first time, a lunch box product recorded the most sales at its outlets. The retail chain’s “Baek Jong-won Hanpan Lunch Box” raised the most sales out of all its products this year. A customer walks into a CU outlet promoting its Baek Jong-won lunch boxes. (Yonhap)From January to June, sales of lunch boxes at CU tri
June 24, 2016
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Korea vows swift, firm response over Brexit if necessary
Korean Finance Minister Yoo Il-ho on Friday said Seoul will "swiftly and firmly" take measures to deal with volatility in financial markets if necessary as Britain voted to leave the European Union. Korea "has faithfully reviewed contingency plans and the government will swiftly and firmly deal with the development if necessary," the policymaker said in a statement, saying that the Brexit is expected to pose "long-term uncertainty" to the world economy and Korea. "In the short term, volatility i
June 24, 2016
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Kim Seong-min found unconscious after attempted suicide
Actor Kim Seong-min was found unconscious after a suicide attempt following a fight with his wife in the small hours of Friday, according to the police. (Yonhap)The Seocho police said they first visited Kim’s house past midnight on Thursday night leading to Friday morning when his 18-year-old son reported a domestic violence case at 1:15 a.m., claiming Kim was hitting his wife. Kim’s wife, however, said the fight was “only a minor conflict” between the couple.Instead of pursuing the case, she de
June 24, 2016
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Transport minister expresses apologies to Milyang, Busan
Korea's transportation minister apologized to the citizens of Milyang and Busan, who had both competed to host the new airport, adding that the decision to scrap the project reflected the nation's best interests."State projects must be rolled out based on the country's whole interest in mind taking into account the economy, potential, and competitiveness," Land, Infrastructure and Transport Minister Kang Ho-in said in a meeting with lawmakers.On Tuesday, Korea said it has scrapped a plan to buil
Social AffairsJune 24, 2016
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Woori Bank needs to sharply increase provisions to retain top rating
[THE INVESTOR] Woori Bank needs to set aside loan-loss provisions of 700 billion won (US$ 594 million) to maintain its credit rating of AAA, credit rating agencies said on June 24. Woori Bank’s BIS capital adequacy ratio declined to 13.5 percent as of the end of the first quarter, the lowest level among commercial banks. Due to its exposure to debt-laden shipping and shipbuilding companies, the ratio has been plunged from 15.5 percent to 13.7 percent during two years between 2013 and 2015. Accor
June 24, 2016
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THAAD seen as capable of intercepting N.K. mid-range missile: defense minister
The advanced U.S. missile defense system THAAD is believed to be capable of intercepting North Korea's intermediate-range ballistic missiles if it is deployed in South Korea, Seoul's defense chief said Friday.North Korea claimed Thursday that it has succeeded in test-firing its mid-range missile, boasting of its capacity to hit U.S. forces in the Pacific region. "The deployment of THAAD will help South Korea's move to counter (the North's missile threats)," Defense Minister Han Min-koo told repo
North KoreaJune 24, 2016
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Seoul stocks, currency stung by Brexit rout
Korea's financial market was roiled Friday by Britain's exit from the European Union, with the local stock market plunging over 3 percent and the local currency nosediving.The country's benchmark Korea Composite Stock Price Index shed 70.43 points, or 3.55 percent, to 1,916.53 as of 2:20 p.m. From a session earlier, the Korean won fell 28.20 won, or 2.6 percent, against the U.S. dollar to trade at 1,178.40 won. (Yoon Byung-chan /The Korea Herald)The main index opened up at 2,001.55 but turned l
June 24, 2016
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Nat'l football team coach named new boss of second-tier club
A Korean men's national football team coach on Friday was named the new boss for a second-tier pro club in Seoul.Seoul E-Land FC said Park Kun-ha, an assistant to Uli Steilike, will be their new skipper after signing a two-and-a-half year contract. The K League Challenge club, founded in 2014, struck the deal nine days after sacking Scottish head coach Martin Rennie."We decided to choose Park Kun-ha as the second head coach in club history," Seoul E-Land said. "He emphasizes communication with
SoccerJune 24, 2016