Most Popular
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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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[Hello India] Hyundai Motor inches closer to IPO in India
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College is expensive? In S. Korea, English preschools cost much more
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Panel decision put prosecution in dilemma over Dior bag case
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Global drama stars gather for 2024 Seoul International Drama Awards
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Dollar opens lower on June 20
[THE INVESTOR] The US dollar opened lower at 1,168.0 won on June 20, a slide from the previous day’s closing of 1,172.7.(theinvestor@heraldcorp.com)
June 20, 2016
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Small cars favored over compact sedans this year: data
The sales of city cars in South Korea, such as the Spark and the Morning, have remained firm this year on the back of aggressive promotions by automakers, with their combined sales exceeding those of compact sedans, industry data showed Monday.According to the data compiled by the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the cited period.Currently, there are three
MobilityJune 20, 2016
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Ratio of income tax revenue to GDP rising fast: report
South Korea's ratio of income tax revenue to gross domestic product has been rising at a fast pace over the past years due largely to the increased number of taxpayers, a report showed Monday.The country's revenue from earned income and global income taxes came to 36.8 trillion won ($31.4 billion) in 2014, accounting for 2.48 percent of the overall tax revenue of 1,485.1 trillion won, according to the report based on data from the finance ministry and the National Tax Service. National Tax Servi
June 20, 2016
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Producer prices drop on decline in farm goods in May
South Korea's producer prices dropped slightly from a year earlier in May on a large cut in prices of agricultural and fishery products, central bank data showed Monday.The producer price index for May came to 98.68, down 3.1 percent from the same month last year, according to preliminary data from the Bank of Korea.The May index marked a slight increase from a revised 98.67 in the previous month.May marked the second consecutive month of an on-month gain following eight straight months of decli
June 20, 2016
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Samsung’s Joyent buy not enough to take on AWS: analyst
[THE INVESTOR] Samsung Electronics is expected to get a big boost with its recent acquisition of US-based cloud service start-up Joyent but it would be still not enough to compete head-on with the market No. 1 Amazon Web Service, or AWS.Samsung did not reveal the acquisition price for the deal that was announced on June 16. Global Innovation Center, its Silicon Valley start-up accelerator, is said to have led the whole process. After the acquisition, Joyent will be run as a separate entity under
TechnologyJune 20, 2016
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Sri Lanka beckons with tourism jewels
Sri Lanka -- an island nation in South Asia -- has emerged from decades of national conflict to reveal its mystic beauties.Known as the “Pearl of the Indian Ocean,” the lush tropical isle is famous for its golden beaches with palm trees, Buddhist temples of glittering relics as well as exotic wildlife and sundry vegetation. Its fledgling tourism industry has registered a 230 percent growth over the last five years, and more than 1.8 million travelers visited last year, including 14,000 Koreans.
Foreign AffairsJune 20, 2016
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Azerbaijan, Korea to cooperate on infrastructure, energy
Azerbaijan and Korea on June 14 held the first round of a joint commission on economic cooperation aimed at bolstering partnerships in infrastructure, industrial plants and trade and investment. The meeting in Seoul was led by the Korean Ministry of Trade, Industry and Energy, and Azeri Ministry of Communications and High Technologies, and produced a protocol agreement on economic cooperation covering technology transfer, renewable energy, information communications technology and other areas. S
Foreign AffairsJune 19, 2016
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Uzbekistan glitters with Silk Road wonders
For those that long for the ancient Silk Road splendors from Central Asia, Uzbekistan serves snippets of those former glories, arranged with modern conveniences. The doubly landlocked country in the heart of Eurasia offers a peculiar mishmash of cultural relics: luminous minarets, voluptuous domes and tortuous mosaics, often next to classical Russian architectures and ideological socialist sculptures. Coming out of seven decades of soviet rule through independence in 1991, Uzbekistan has steadil
Foreign AffairsJune 19, 2016
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Two Saenuri leaders take fence-mending step
The two leaders of the ruling Saenuri Party on Sunday took a fence-mending step to address their conflict over the issue of accepting independent lawmakers and shore up the party plagued by a persistent factional rift. During their meeting at a cafe in southern Seoul, Rep. Chung Jin-suk, the party's floor leader, apologized for having used "rough and inappropriate" language against interim leader Kim Hee-ok last week. Kim accepted the apology. Their relationship soured Thursday after Chung c
NationalJune 19, 2016
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Rome set to elect first female mayor
ROME(AFP) -- Voters in the Italian capital headed to the polls Sunday with all signs indicating that they will elect Virginia Raggi as the first female mayor of the Eternal City. Raggi, a 37-year-old lawyer and local councillor, has leapt from anonymity to become one of the best-known faces in Italian politics in the space of only a few months on the campaign trail. The telegenic brunette, whose victory would be a blow for Prime Minister Matteo Renzi, is the rising star of the populist Five
World NewsJune 19, 2016
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Opposition submits bill against state-authored history textbooks
Dozens of lawmakers from the opposition parties introduced on Sunday a bill aimed to block middle and high schools from adopting history textbooks authored by the state. .The government decided last year to mandate that secondary schools use state-authored history textbooks, claiming that the previous books contained “ideologically-biased” descriptions. The Education Ministry plans to finish writing the book by this November and begin distributing them in March 2017. The measure prompted vehemen
PoliticsJune 19, 2016
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[Graphic News] Korean products make up one-tenth of Chinese import market
Korean products’ market share in the Chinese imported goods market grew 1.7 percent in the past two years, data showed Sunday.Just over one-tenth of imported products in China, worth $174.3 billion, came from Korea as of 2015, according to data from the Korea International Trade Association’s Institute for International Trade. Korean products were strongest in the petrochemicals and flat-panel display markets, where they hold about one-third of the market share.Between 2013 and 2015, the most no
IndustryJune 19, 2016
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[Newsmaker] Two more women file rape claims against Park Yoo-chun
Sexual assault charges continue to pile up against JYJ member and actor Park Yoo-chun, 30, with two more women claiming that the idol star raped them, bringing the current total to four potential victims. According to police on Friday, a third and fourth complainant have come forward to file separate charges against Park. One woman claimed that Park had raped her in the bathroom of a karaoke establishment in February 2015, while another told police he had raped her in the bathroom of his house
PerformanceJune 19, 2016
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Memorial shows highlight two art legends
The Seoul Museum of Art commemorates two great Korean art masters -- Nam June Paik (1932-2006) and Chun Kyung-ja (1924-2015) -- in separate memorial exhibitions this summer. Following a series of anniversary exhibitions at galleries and museums in Korea marking the 10th anniversary of Nam June Paik’s death, the new Nam June Paik exhibition at SeMA sheds light not only on his artworks, but also on the Fluxus Movement that laid the foundations for Paik’s creations. Nam June Paik (Gallery Hyund
PerformanceJune 19, 2016
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Constitutional reform drive gains pace
The move at the National Assembly to start discussing constitutional changes gained momentum over the weekend, with a survey showing that a majority of lawmakers support an amendment and senior members of political parties pushing for a related debate.The survey, conducted by Yonhap News Agency on all 300 lawmakers, showed Sunday that more than 45 percent of the lawmakers favor a revision to change the current single-term, five-year presidency into two four-year terms.The survey comes as the pol
PoliticsJune 19, 2016
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Korea to open embassy in Madagascar
South Korea is expected to open an embassy in Madagascar as early as next month, officials said Sunday, as part of Seoul’s move to expand cooperation with the resources-rich continent.The Foreign Ministry has been gearing up for the launch since it secured approval from the southeastern island country last year. An inaugural ceremony might take place in Antananarivo in early July, officials said. The two sides established diplomatic relations in 1962 but Seoul’s mission in South Africa had been
Foreign AffairsJune 19, 2016
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[Editorial] Extra budget
The government is leaning toward creating a supplementary budget in the second half of the year to boost the sluggish economy.Finance Minister Yoo Il-ho said Friday that the government would come up with aggressive fiscal measures to cope with growing downside pressures at home and abroad.A day earlier, he had said the government would examine the option of drawing up an extra budget in its search for the right mix of policies to revitalize the economy.The minister’s remarks represent a shift in
EditorialJune 19, 2016