Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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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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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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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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College is expensive? In S. Korea, English preschools cost much more
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[Hallyu Power] What it takes to be a K-pop fan
Following four sexual assault claims last week against Park Yoo-chun of boy band JYJ, a group of his fans announced that they will stop supporting the once-beloved celebrity. The fans, who were members of a popular online community said in a statement that they felt “deep disappointment and outrage” toward Park, adding that he had “betrayed the trust of 13 years and devoted support.” “We will strictly boycott all content or activities related to him,” the statement added. The fans said they wo
PeopleJune 21, 2016
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Korean institutions commit $700m in Brookfield Infrastructure fund
[THE INVESTOR] Major Korean institutional investors have invested some 800 billion won ($ 689 million) in one of the world’s biggest private equity-style infrastructure vehicles.Six large institutions including Teachers’ Pension and Public Officials Benefit Association have committed to the new global infrastructure fund by Brookfield Asset Management, a Toronto-based asset manager. The move comes as investors allocate more to the asset class amid low fixed-income yields. “Institutions that seek
June 21, 2016
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Banco Santander to exit Korea
[THE INVESTOR] Spanish lender Banco Santander will shut its Korean operations after seven years, joining foreign banks’ exodus from Korean market in a bid to slash costs through global restructuring, a source said Tuesday.The eurozone’s largest bank by market value will close its office in Seoul before the end of the year and some of its employees will be dispatched to Hong Kong.Launched in 2009, the Seoul office has been serving as a liaison between Korean corporates and official institutions a
June 21, 2016
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[Editorial] Suicidal strikes
The news that the unions of South Korea’s three major shipbuilders are moving to strike against restructuring plans is truly distressing. Workers at Hyundai Heavy Industries and Samsung Heavy Industries proclaimed last week a labor dispute with management -- the first legal step for collective action. They said workers will cast ballots soon whether to authorize a strike or not. The union of the third shipbuilder -- Daewoo Shipbuilding and Marine Engineering -- had already voted for walkout, wit
EditorialJune 21, 2016
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[Editorial] Wrong conclusion
As expected, investigations into incumbent prosecutors over the Jung Woon-ho bribery scandal is going nowhere. This raises a fundamental question -- whether it is legitimate to leave the investigation in the hands of the state prosecution. Prosecutors indicted a key figure in the case – former vice minister-level prosecutor Hong Man-pyo -- on Monday on charges of accepting kickbacks from Jung and evading taxes. The indictment accused Hong, already in custody, of receiving 300 million won ($251,0
EditorialJune 21, 2016
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Future studies society to discuss Korea's future challenges
An inaugural conference will be held Wednesday by the Korea Association of Futures Studies to discuss the challenges of the future, organizers said.The forum will be held at the Seoul building of the National Information Society Agency under the theme “Challenge New Futures,” to address such issues as the rise of artificial intelligence and robots and their social impact. The conference will cover a total of 38 theses authored on topics such as technology to predict and manage natural disasters,
Social AffairsJune 21, 2016
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Korea’s competitiveness in advanced manufacturing drops
[THE INVESTOR] Korea’s competitiveness in advanced manufacturing sector has declined over the past years, due mainly to sluggish performance in semiconductor and mobile industry, according to a report by Hyundai Economic Research Institute released on June 21. From 2010 to 2014, added value in Korea’s advanced manufacturing industry -- which includes aerospace, semiconductor, IT and pharmaceutical, among others -- declined by 4.7 percent. Japan is the only other major country that dropped, by 9.
June 21, 2016
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N. Korean defectors tallied at 1,103 worldwide: U.N.
The U.N. refugee agency said in an annual report that there were 1,103 North Korean defectors living as refugees around the world in 2015, down 1,282 from the year before.An additional 230 are currently pending decision on their asylum applications, according to the Global Trend 2015 report by the U.N. High Commissioner for Refugees, while a total of 74 are being assisted by the UNHCR.The report did not specify the distribution of defectors per country. As the figure does not include defectors w
North KoreaJune 21, 2016
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Women’s presence in politics still limited in South Korea
While the 20th National Assembly has the highest proportion of seats held by women in its history, at 17 percent, gender disparity was still prevalent during the general election in April, a study showed Tuesday.The study, organized by a group of former and current women politicians, found that only 10.5 percent of all 934 nominated candidates who ran for constituency seats were women. Among the 51 women who secured seats in the parliament, 25 of them were elected by proportional representation.
Social AffairsJune 21, 2016
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Saenuri Party calls for 'sizable' extra budget
The ruling Saenuri Party on Tuesday urged the government to compile a “sizable” amount of supplementary budget, highlighting that extra spending is needed to bolster the nation’s faltering economy marred by rising unemployment. In a meeting with high-profile officials from the Ministry of Strategy and Finance and the Ministry of Employment and Labor, the Saenuri lawmakers belonging to a special in-house committee on employment recommended that the government increase the amount of extra budget t
PoliticsJune 21, 2016
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[NEWS ANALYSIS] Saenuri faces double jeopardy over scrapped airport plan
The government’s decision on Tuesday to scrap the southeast airport plan altogether spared the conservative political camp from the risk of having its largest stronghold region split in half. But it also evoked strong backlashe from both candidate cities which have been counting on the 10 trillion ($8.64 billion) state-led project to revitalize their local economies. “Instead of building a new airport in (the southeast) Yeongnam, we have decided to expand the (existing) Gimhae Airport (in Busan)
PoliticsJune 21, 2016