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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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Panel decision put prosecution in dilemma over Dior bag case
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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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 looks to reduce banks’ forex uncertainties
[THE INVESTOR] Seoul is looking to strengthen the ability of local banks to deal with sudden changes in the international market, the financial authorities announced after a meeting Thursday. As part of the plans -- finalized at a meeting between the financial regulators, central bank and Finance Ministry -- local banks will be required to raise their foreign exchange liquidity coverage ratio to 80 percent by 2019. pixabay.comThe FX LCR is maintained at a level between the net forex outflow ex
June 16, 2016
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Dollar opens lower on June 16
[THE INVESTOR] The U.S. dollar opened at 1,168.5 won on June 16, down from the previous day’s closing of 1,173.3 won. (theinvestor@heraldcorp.com)
June 16, 2016
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Investigators close in on ex-DSME chief
[THE INVESTOR] The probe into bribery allegations against Daewoo Shipbuilding and Marine Engineering has expanded with authorities looking at the role of former CEO Nam Sang-tae. According to reports, the investigators have found evidence that Nam received bribes in return for awarding contracts to HUMEX Shipping & Air Freight Corp.On June 15, the prosecution applied for an arrest warrant on HUMEX chairman, who is said to be a close acquaintance of Nam. The chairman, identified by his surname Ch
June 16, 2016
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Seoul seeks Interpol aid to track key suspect in DSME case
[THE INVESTOR] Seoul has requested Interpol to put out a red notice alert on a key suspect in Daewoo Shipbuilding and Marine Engineering corruption case. A red notice alert is placed on suspects wanted in Interpol member nations. According to the investigators, Seoul’s Ministry of Justice requested the alert on a suspect identified by his surname Lee, who is the elder brother of architect Lee Chang-ha.Lee Chang-ha, who held an executive level position at DSME from 2006 to 2009, was indicted in 2
June 16, 2016
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Seoul to introduce tighter FX liquidity guidelines in 2017
South Korea said Thursday that it will apply tighter liquidity regulations on foreign exchange reserves to its banking operations starting next year to strengthen the liquidity positions of local financial institutions.The Ministry of Strategy and Finance said that it will introduce the foreign exchange liquidity coverage ratio to the South Korean banking industry from 2017, with other minor liquidity regulations abolished. Ministry of Strategy and Finance in Sejong City (Yonhap)The LCR is one o
June 16, 2016
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247 Korea to launch self-defense smartphone case via Kickstarter next month
[THE INVESTOR] Start-up company 247 Korea announced that it would be launching a self-defense smartphone case through crowdfunding site Kickstarter in July. If the launch via Kickstarter is successful, the company plans to pitch its product on Indiegogo, another crowdfunding site, as well. Intended to serve as a means of self-defense, the smartphone case developed and produced by 247 Korea is equipped with a Taser-like stun gun that extends from the case upon the recognition of the user’s finger
TechnologyJune 16, 2016
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Trump says he would accept N. Korean leader to U.S. for negotiations
Republican presidential candidate Donald Trump said Wednesday he would "accept" North Korean leader Kim Jong-un to the United States and hold nuclear negotiations with him while eating hamburgers, according to news reports."If he came here, I'd accept him," Trump said during campaigning in Atlanta, reaffirming his willingness to meet with the North's leader, according to reports. "Who the hell cares? I'll talk to anybody."Trump first expressed his willingness to meet with Kim in an interview las
North KoreaJune 16, 2016
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Senate defense budget bill fails to include amendment calling for THAAD deployment in S. Korea
The recently approved Senate defense budget bill for next year has failed to include a proposed amendment calling for deployment of the U.S. THAAD missile defense system in South Korea, a congressional source said Wednesday.The Senate passed the National Defense Authorization Act for Fiscal Year 2017 in a 85-13 vote Tuesday, authorizing $602 billion in defense spending. The legislation will later be combined with a House version before being sent to President Barack Obama.Late last month, Sen. C
DefenseJune 16, 2016
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S. Korea, France agree to jointly consider additional sanctions on N. Korea
South Korea and France agreed Wednesday to jointly consider additional sanctions on North Korea while increasing military exchanges and defense technology cooperation between the two countries, officials said.South Korean Defense Minister Han Min-koo and his French counterpart, Jean-Yves Le Drian, reached the agreement during talks in Paris, sharing a view that nuclear and missile threats from the communist nation are serious, officials said.The two sides will use their regular defense informati
North KoreaJune 16, 2016
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Korea says its FTA with Colombia to enter into force next month
South Korea said Wednesday that its free trade agreement with Colombia will take effect next month, a move expected to further boost bilateral trade.Colombia informed South Korea earlier in the day that it has completed the ratification process of the deal clinched in 2013, the Ministry of Trade, Industry and Energy said, adding that the deal is set to go into effect on July 15.Trade volume between the two countries stood at $2.1 billion in 2014, up 36 percent from a year earlier.The sides are s
June 16, 2016
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THAAD was not issue during S. Korea-Russia talks: official
The top diplomats of South Korea and Russia barely discussed the controversial issue of deploying an advanced U.S. missile defense system on Korean soil during their talks earlier this week, a Seoul official said.The senior official told South Korean reporters during a luncheon in St. Petersburg on Tuesday that the topic of the Terminal High Altitude Area Defense system was raised in the meeting between South Korean Foreign Minister Yun Byung-se and his Russian counterpart, Sergey Lavrov, but on
DefenseJune 16, 2016
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N. Korea vows to bolster nuclear deterrent to cope with U.S. threat
North Korea threatened Wednesday to strengthen its nuclear deterrent as it accused the United States of plotting a preemptive strike against Pyongyang."We will further bolster up in quality and quantity the nuclear deterrence for self-defense in face of the U.S. reckless war moves," an unidentified spokesman of North Korea's Foreign Ministry said in English-language comments carried by the North's official Korean Central News Agency.He also warned that North Korea will "foil any slightest milita
North KoreaJune 16, 2016