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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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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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An increasing number of K-pop idols are breaking free from big agencies. Why?
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KFA Chair denies unfair hiring of national coach
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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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Seongnam mayor's battle against government in spotlight
Seongnam mayor and potential presidential candidate Lee Jae-myeong ended his 11-day hunger strike at Gwanghwamun Square in central Seoul last Friday after the main opposition The Minjoo Party of Korea leader Kim Chong-in promised to resolve a controversial plan to adjust local government subsidies.Lee started the protest on June 7, calling for the repeal of the local government finance reorganization plan that was announced in April during the national fiscal strategy meeting. Seongnam Mayor Lee
PoliticsJune 23, 2016
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Kumho Asiana chief takes first win in fraternal battle
The first round of the legal battle between Kumho companies has gone to Kumho Asiana Group chairman Park Sam-koo.On June 23, the Seoul Central District Court sided with Park in the civil suit brought by his brother Park Chan-koo’s Kumho Petrochemical.Kumho Petrochemical had filed a suit against Park and former Kumho E&C chief Kee Ock, claiming that the two were behind the sale of Kumho Industrial’s commercial papers in 2009. The firm claims that the two orchestrated the sale of the commercial pa
IndustryJune 23, 2016
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Kia tops U.S. car quality survey
The nation’s second-largest automaker Kia Motors topped a car quality survey by the U.S.-based business consultancy agency J.D. Power, the carmaker said Thursday.It is the first time in 30 years that a Korean brand has topped rankings by the U.S. firm.Porsche ranks second, followed by Hyundai, Toyota and BMW. The initial quality survey is based on responses from purchasers and lessees of new 2016 model-year vehicles sold in the U.S. market. J.D. Power received more than 80,000 surveys from vehic
MobilityJune 23, 2016
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Hanwha to face profit squeeze after new preferred share issurance
[THE INVESTOR] Hanwha Corp.’s decision to raise 400 billion won by issuing new preferred shares may lead to profit squeeze due to growing dividend payments, NH Investment & Securities said in a report on June 23. The trading unit of Korean conglomerate Hanwha Group said that it would issue new 20 million preferred stocks to enhance its financial stability in a regulatory filing on June 22. Hanwha GroupShares of Hanwha shed 1.08 percent to trade at 36,700 won ($US31.90) as of 2:22 p.m.Kim Dong-ya
June 23, 2016
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[Herald Interview] Kisum gets ready to make her ‘Musik’ heard
Hip-hop artist Cho Hye-ryung, better known by her stage name Kisum, released her second EP “Musik” at midnight on Wednesday. “Musik,” which is Kisum spelled backwards, consists of five tracks – the two lead tracks “No Jam (Boring)” and “Ocktabbang (Rooftop house),” “2 Beer,” “Freedom” and “Cover Up.” She wrote all the lyrics while collaborating on the music, marking the first time she participated in composing.Rapper Kisum (Mapps Entertainment) It was not as a musician that she first gained pub
PerformanceJune 23, 2016
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Lotte operates 18% of overseas units in tax havens: research
Nearly one-fifth of Lotte’s overseas corporations are in countries that might serve as tax havens, which could impede prosecutors’ investigation into possible misconduct, according to a research institute on Thursday.The study by the Korea 20000 Corporate Research Institute analyzed Lotte Group’s 256 overseas corporations and found 46 of those companies operate in countries suspected of being tax havens.The majority of these companies were set up in Hong Kong, which does not yet have a ratified
IndustryJune 23, 2016
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Seoul stocks end 4-day straight rise ahead of Brexit vote
Korean shares closed lower Thursday snapping a four-day consecutive rise, as investors wait for Britons to cast their ballots to decide whether to exit from the European Union. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 5.87 points, or 0.29 percent, to 1986.71. Trade volume was moderate at 449.59 million shares worth 4.16 trillion won.As the biggest issue in the market is the upcoming British referendum, investors took to the sidelines
June 23, 2016
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Kakao Navi expects to see profits in H2
The nation’s top mobile messenger operator Kakao Corp. expects a profit from its navigation app Kakao Navi later this year, through marketing collaboration with local companies.Kakao Navi was launched in February after the company bought popular navigation service Kimgisa last year in a major merger deal. “We are in talks with several companies to better promote the app (and are) aiming to unveil it in the second half,” Kakao’s official told The Korea Herald. The new Landmark Service will enable
TechnologyJune 23, 2016
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With new chairman, Busan Film Fest pushes on in fight for autonomy
The leaders of the Busan International Film Festival, Asia’s largest film festival which has been mired in a turbulent battle for autonomy over the past two years, said they will strive to officially secure the festival’s full independence before its 21st installment set for this October. Kim Dong-ho, who was appointed BIFF’s chairman on May 24 after former chairman and Busan Mayor Suh Byung-soo stepped down, expressed a firm resolve to make the festival into one that is “operated by filmmakers
FilmJune 23, 2016
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Korean handball ready for new act in Rio
Korea has beaten steep odds in Olympic women's handball over the years -- so much that its remarkable run to the silver medal at the 2004 Athens Olympics became the subject of a popular local film, "Forever the Moment."The storyline hasn't changed as Korea gets ready for the Rio de Janeiro Olympics in August. As the lone Asian representative in the 12-team tournament, Korea will again be undersized against its opponents. The country will be ready for a new act in Rio, and head coach Lim Young-ch
SportsJune 23, 2016
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More tropical fruit as Korea grows warmer
The rise of average temperatures in Korea due to climate change is leading to higher tropical fruit production here, according to a research institute on Thursday.Production of tropical fruits rose 52.5 percent compared to last year, reaching 1174 tons, said the Korea Rural Economic Institute.Passionfruit was the most-produced fruit at 408.7 tons, followed by mangoes, pineapple, dragon fruit and papayas. The KREI said that the increase in production was due to rising temperatures, which allowed
IndustryJune 23, 2016
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Former SPC Group executive loses lawsuit against firm
[THE INVESTOR] A legal battle between SPC Group -- the operator of South Korea’s largest bakery chain -- and a former executive has ended in favor of the company.Former Paris Croissant chief executive Jung Tae-soo automatically lost the suit when he failed to appeal a lower court ruling that ruled in favor of SPC, industry sources said on June 23. SPC is the parent company of Paris Croissant, a popular bakery and coffee shop chain. In December 2014, Jung, 61, sued SPC for unjustified dismissal.
IndustryJune 23, 2016
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Fantastic Film Festival aims to widen scope
The Bucheon International Fantastic Film Festival, now in its 20th year, is hoping to broaden its international scope, organizers said Wednesday. This year’s festival will screen a record 302 titles -- up 67 from last year -- from 49 different countries. Two new programmers and three program consultants with expertise in Chinese and Southeast Asian films are included among the festival’s organizers to make it more international. BIFAN aims to “respect the artistic freedom of its participants,
FilmJune 23, 2016
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[Monitor] Korea’s exports to China keep falling
Korea’s exports to China continued to shrink from a year ago in May, recording 11 months of decrease, industry data showed Thursday.
June 23, 2016
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Korea to increase flights to France
[THE INVESTOR] Korea and France have reached an agreement to increase flights between the two countries, allowing more visitors to travel easily, the Transport Ministry said on June 23. The number of flights from Seoul’s Incheon International Airport to Paris’ Charles de Gaulle Airport will be increased to 14 from 12 every week, the ministry said. The agreement was reached during the bilateral aviation talks in Paris from June 21-22. As to the exact timing of increased flights, the two cities wi
IndustryJune 23, 2016