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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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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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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Hanwha Defense eyes global armored vehicle market
Eurosatory defense exposition.[THE INVESTOR] Hanwha Defense Systems announced on June 17 that it has signed a 7.5 million euro (US$ 8.4 million) gun turret supply deal with CMI Defence at the Eurosatory defense exposition. CMI Defence is a Belgium based military equipment maker that specializes in weapons systems for armored vehicles.Under the contract, Hanwha will be supplied with 105 mm gun turret, which will then be used in building light infantry fighting vehicle based on the K21. The K21-ba
June 17, 2016
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Hanwha to issue bonds for 100 billion won
[THE INVESTOR] Hanwha is looking to raise 100 billion won (US$ 85 million) with new corporate bonds that will be issued on July 5. Hanwha had issued bonds worth the same amount in February. The sale will be overseen by Korea Investment and Securities. The company said that the move is in preparation for 150 billion won bonds that mature in October.By Choi He-suk (cheesuk@heraldcorp.com)
June 17, 2016
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Psychiatric test sought for Gangnam murder suspect
Prosecutors on Friday said that they will further look into the mental condition of the murder suspect who stabbed a woman to death near Gangnam Station, to identify whether the crime was driven by hatred toward women or a mental disorder. The Seoul Central District Prosecutors’ Office requested a state-run hospital in Gongju, South Chungcheong Province, to carry out a psychiatric test on the suspect’s state of mind before and after the crime, its officials said. “The hospital will keep experts
Social AffairsJune 17, 2016
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Reasons for divorce have changed since ’50s in South Korea: study
The reasons for divorce in South Korea have varied significantly each decade since the 1950s, changing from spouses that have gone missing to basic unhappiness, a study by the Korea Legal Aid Center for Family Relation showed Friday.The study, which analyzed a total of 1,469,900 pre-divorce counselling cases from 1956-2015, found that historical events and the social climate of each decade, such as the Vietnam War and the 1997 Asian Financial Crisis, influenced couples’ decisions to part ways. F
Social AffairsJune 17, 2016
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Korean builders seek new owner after court receivership
[THE INVESTOR] A handful of Korean companies, which have put under court-led restructuring programs, are seeking out new buyers, sources said on June 17. Financially troubled firms, mainly builders, are putting themselves on the mergers and acquisitions market after the Seoul Central District Court helps them to clean up their balance sheet during the debt workout scheme. “The local M&A market is expected to be packed by firms that underwent court-led revamp as more companies rely on the court a
June 17, 2016
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Saenuri feuding restarts
The ruling conservative Saenuri Party’s decision to reinstate controversial defectors has rekindled the factional divide between the pro-presidential leadership and the reformers’ group.At the heart of the dispute was Rep. Yoo Seong-min, Daegu’s fourth-termer and the party’s former floor leader, known for his deep rift with President Park Geun-hye. Whether or not he would make it back to the party has been considered a yardstick of Saenuri’s willingness to overcome the chronic strife between the
PoliticsJune 17, 2016
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[David Ignatius] Obama‘s year of resilience
A year ago this month, President Obama was delivering a eulogy in Charleston, South Carolina, after the mass shooting in a church there. As he neared the end, he took a long pause and then began singing “Amazing Grace.” It was an unforgettable, transcendent moment. Michelle Obama had reportedly cautioned him against singing, but Obama told her on the trip to Charleston that he might do it anyway. Until he began, even he probably wasn’t sure. Peter Manseau wrote in The Atlantic magazine about the
ViewpointsJune 17, 2016
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[Editorial] Border islands
The number of fishing boats and patrol boats from North Korea has recently surged around the Northern Limit Line. The situation has coincided with the South Korean Navy’s three-day maritime exercise in the West Sea this week. Tension is naturally increasing as the two Koreas fought several bloody battles along the NLL across the West Sea over the past decade. Further, the timing is quite uneasy as both of the battles around the South’s Yeonpyeongdo Island in 1999 and 2002 occurred in June. The N
EditorialJune 17, 2016
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[Editorial] Rate hike delay
The global economy has faced another extension of uncertainty as the U.S. Federal Reserve again chose to delay its base rate hike. Early this year, expectations of a hike during the first half were dominant in the market. The most likely timing for a hike was June, according to earlier bets of global investment banks. And the global market was fully bracing for temporary shocks from a U.S. rate hike, alongside hopes for a fast rebound, as the scenario was sufficiently reflected in the market. Th
EditorialJune 17, 2016
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[Clive Crook] How Europe pushed Britain toward door
So Britain might actually do it. With a week to go before the referendum on June 23, recent polls say the campaign to quit the European Union is ahead. The government and its allies in the Remain campaign are alarmed. Why is this happening? The excellence of the Leave campaign certainly isn’t the reason. Advocates of Brexit made a weak case, unable to say what leaving the EU would mean for the country’s future trade arrangements or which parts of EU law would be re-adopted and which discarded. I
ViewpointsJune 17, 2016
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[Weekender] Bank deposits offer poor returns
Following the Bank of Korea’s surprise cut in base interest rate last week, local banks have each been slashing their own rates on deposit and saving accounts. Citibank Korea’s easy-access deposit account for corporate clients has fallen to the negative return territory after the bank slashed its annual interest rate to 0.001 percent from 0.1 percent on Tuesday. This means that a deposit of 10 million won ($8527) earns 1,000 won a year in interest or 846 won after tax. Given that inflation has r
June 17, 2016
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[Weekender] Record low interest rates fuel property market
When visiting a real estate agency last Saturday, Choi Ho-rim, 40, was surprised to find that there were no apartments at the size of 25 pyeong on sale in Seocho Hills, a complex of 1,082 homes in Umyeon-dong, Southern Seoul. One pyeong is equivalent to about 3.3 square meters and it is a unit used to measure the size of rooms and buildings in Korea.“Things were quite different a few month ago. There were dozens of this size of apartments on sale,” she said. Visitors listen to the explanation of
IndustryJune 17, 2016
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LG Innotek projected to post two straight quarters of operating loss
[THE INVESTOR] Camera module maker LG Innotek’s second-quarter operating profit will likely miss the market consensus due to the lackluster sales performance of its partners that include U.S.-based Apple and LG Electronics, according to an investment report.The Seoul-based LG Group affiliate is expected to post an operating loss of 20.4 billion won (US$17.4 million), far below the average of 10.8 billion won in operating profit forecast by a group of investment firms, according to Hana Financial
TechnologyJune 17, 2016
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Hyundai Mipo Dockyard sees May sales drop 13.5% year-on-year
[THE INVESTOR] Hyundai Mipo Dockyard on June 17 revealed that May sales dipped 13.5 percent from a year ago, in a preliminary regulatory filing. The company’s May sales came in at 281.9 billion won ($US 240.9 million), down 13.5 percent from a year ago, and lower by 0.27 percent compared to the previous month. By Choi He-suk (cheesuk@heraldcorp.com)
June 17, 2016
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Hyundai Heavy posts drop in May sales
[THE INVESTOR] Hyundai Heavy Industries posted May sales of 1.64 trillion won (US$ 1.4 billion), down 13.96 percent compared to the same month last year. For the year so far, Hyundai Heavy’s sales came in at just under 9 trillion won, down 16.48 percent compared to the same period last year. Hyundai Heavy, the country’s largest shipbuilder, has been plagued by falling orders and rising costs, pushing it to draw up tough revival plans.Hyundai Heavy shares closed at 104,000 won, down 0.95 percent
June 17, 2016
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Conglomerates selling stakes in money-making affiliates to raise funds
[THE INVESTOR] Owners of the nation’s top conglomerates are increasingly selling their stakes in various money-making affiliates to raise funds needed for participating in capital increases of other key affiliates.On June 8, Hanjin Group chairman Cho Yang-ho sold a 6.87 percent stake in one of Hanjin’s real estate brokering affiliates for 25.1 billion won (US$21.3 million), according to a regulatory filing on June 16. The brokering affiliate had posted 41.3 billion won in sales and 14 billion wo
CompaniesJune 17, 2016