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 Phil continues its search for Maestro Chung’s successor
Following the sudden departure of maestro Chung Myung-whun after his 10-year tenure as Seoul Philharmonic Orchestra music director last December amid a police investigation into a defamation suit brought on by the SPO’s former CEO against Chung’s wife and allegations of embezzlement, finding Chung‘s replacement is the orchestra’s top priority, said SPO CEO Choe Heung-sik. Choe first took rein of the city’s controversy-riddled orchestra on July 1 last year, and after nearly a year at the beleagu
PerformanceJune 15, 2016
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EXIM Bank poured 1.8 trillion won into ailing ship maker
[THE INVESTOR] The Export-Import Bank of Korea poured 1.8 trillion won ($1.5 billion) into an ailing shipbuilder for six years without keeping proper tabs on it, the Board of Audit and Inspection said on June 15. According to the BAI, the EXIM Bank neglected its duty in monitoring Sungdong Shipbuilding and Marine Engineering Co., 70.71 percent of whose shares are held by the bank. The shipbuilder has been under creditor-led restructuring since 2011. In laying out the recovery plans, the shipbuil
IndustryJune 15, 2016
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Seoul injects W60m in Jongno for senior citizens facilities
Two public parks in Jongno -- Jongmyo and Tapgol -- will turn into special zones for the elderly by offering a variety of welfare facilities and cultural activities, Seoul City said Monday. The two parks are frequented by senior citizens to rest, meet friends and have a meal at a soup kitchen in the neighborhood.The Seoul Metropolitan Government said it would inject 60 million won ($51,000) over the next four months to build more facilities and programs for the senior citizens. Public and privat
Social AffairsJune 15, 2016
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Seoul to reduce number of taxi stands by third
The Seoul Metropolitan Government announced its plan to gradually reduce the number of taxi stands in the city.The SMG said Sunday that it would cut 30 taxi stands each year over the next five years -- downsizing about one-third of the current 419 taxi stands installed throughout Seoul. YonhapA city official said the plan is intended to save on maintenance costs. The low level of income from advertising at taxi stands is another reason, the official added.Amid the increasing popularity of mobile
Social AffairsJune 15, 2016
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Teachers’ Pension eyes hedge fund foray
[THE INVESTOR] Korea’s Teachers’ Pension, the nation’s second-largest retirement pension, is preparing for its first foray into hedge fund investment this year, its chief investment officer told The Korea Herald. In an exclusive interview, Park Min-ho said the 13.1 trillion won fund was biding time for the move, as conventional stock and bond investments generate lackluster returns. “Many institutional investors turn to alternative investments now and the market has become more competitive. The
June 15, 2016
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[Monitor] Youth unemployment at new record high
Korea’s youth unemployment came in at 9.7 percent last month, the highest for the month of May since comparable data began to be collected in 1999. The jobless rate for the 15-29 age group has been on a record-breaking streak since February, as economic gloom continues in Asia’s fourth-largest economy. From a month earlier, the youth jobless rate marked a decrease of 0.4 percentage point. Overall unemployment stood at 3.7 percent in May, compared to 3.9 percent tallied in April, or 3.8 percent r
June 15, 2016
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[Editorial] Long overdue
As Speaker Chung Sye-kyun noted in his speech opening the 20th National Assembly, the new parliament faces daunting challenges in the coming four years.First and foremost is restoration of public confidence in the parliament, which dropped to its lowest level during the 19th Assembly. The new parliament should neither repeat the fierce partisan strife that often paralyzed legislative business nor tolerate corruption and abuse of power by its members. Chung added one more important task to those
EditorialJune 15, 2016
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[Editorial] Twin follies
The emissions cheating scandal surrounding the German automaker Volkswagen shows that a combination of dishonest, irresponsible business and incapable, negligent regulators can cause immense damage to innocent consumers. Korean prosecutors questioned a senior executive of the Korean unit of the carmaker Monday, about five months after the Environment Ministry asked them to investigate the case. Prosecutors suspect that the carmaker forged at least 48 fuel efficiency test records between June 201
EditorialJune 15, 2016
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DeGeneres shares a biopic with a blue fish in 'Finding Dory'
BEVERLY HILLS, California (AP) -- "Finding Dory" isn't just about a little blue fish looking for a home. The long-awaited sequel to "Finding Nemo" also reflects the journey of the woman behind the gills, Ellen DeGeneres. Like Dory, DeGeneres had been feeling a little lost 13 years ago, when she first voiced the happy little fish with short-term memory issues. DeGeneres had publicly come out as gay a few years earlier, and had the title character on her namesake sitcom do the same. It was a cultu
FilmJune 15, 2016
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[News Analysis] Korean stocks not likely to gain developed status in long run
South Korea is not likely to get its stock market included in the Morgan Stanley Capital International’s Developed Markets in the long run, as the financial authority remains unchanged over its currency exchange regulations, financial regulators and analysts said.The MSCI announced Tuesday in New York that the global index provider will not include Korea on its “review list” for potential reclassification of its stock market to advanced status at least until after 2017.“The recent changes announ
June 15, 2016
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Kanye West announces major N. America tour
NEW YORK (AFP) - Rap superstar Kanye West, who earlier this year topped music charts with his latest album “The Life of Pablo,” on Tuesday announced a major North American tour, set to begin in August.“The Saint Pablo Tour” will hit nearly 40 cities across the United States and Canada, including New York, Los Angeles, Toronto, Chicago, Montreal, Detroit, Washington and Miami, among others, according to Live Nation, which is promoting the event.West made history earlier this year when “The Life o
PerformanceJune 15, 2016
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[Newsmaker] Seoul Mayor struggles in quagmire
At the center of public criticism over the recent safety accident and prolonged conflicts with civic groups, Seoul Mayor Park Won-soon was recently seen taking steps to hear directly from interested parties.Park attended an event Sunday with citizens and a panel of a dozen experts in various sectors who came to state their views regarding lax safety regulations and unstable working conditions of contracted workers. The session was held following the death of a 19-year-old subway mechanic on May
Social AffairsJune 15, 2016
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Actor Lee Min-ho wins in Weibo Movie Awards
Korean actor Lee Min-ho has been named the most influential Asian film industry figure at a movie awards ceremony hosted by Weibo, the Chinese equivalent of Twitter, his agency said Wednesday.Lee was chosen as the “Asian Cinema Pioneer” at the inaugural Weibo Movie Awards Ceremony held in Shanghai on Monday night, MYM Entertainment said.Winners were selected based on an online vote of 100 million Weibo subscribers who are film fans, according to the organizer. Lee Min-ho (Official website)Lee ca
PeopleJune 15, 2016
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Organica acquires land for plant expansion
Organica Day, the juice-making arm of Herald Corp., said Wednesday that it had acquired around 8,600 square meters of new land for the expansion of its juice production plant in Anseong, Gyeonggi Province. “We decided on the major purchase to expand our facilities and respond to fast-growing demand for our Just Juice Cleanse products,” Organica Day CEO Lee Young-jin said in a statement.New land purchased by Organica Day in Anseong, Gyeonggi Province (Organica)The newly-acquired land lies adjacen
IndustryJune 15, 2016
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North Korea's nuclear arsenal growing: ISIS
North Korea’s nuclear arsenal has grown “significantly” to a total of 13 to 21 weapons, with the communist country procuring an additional 4 to 6 nuclear weapons in the last 18 months, a U.S. think tank said in a report Tuesday.The analysis by the Institute for Science and International Security comes days after media reports indicating that the hermit kingdom has resumed reprocessing nuclear fuel to harvest plutonium. The South Korean government had said that it is keeping a close eye on Pyongy
DefenseJune 15, 2016
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Military to use drones for munitions transportation
The Army on Wednesday revealed plans to use drones to transport war supplies as part of the military‘s “Creative Defense” initiative seeking to incorporate innovative technologies into military operations.The drones, jointly developed by the Army and Korea Aerospace University, will be able to carry up to 20 kilograms of supplies over 5 kilometers. They can stay airborne for a maximum of 30 minutes while escalating to 500 meters above the ground.Officials said ground-based computers will control
DefenseJune 15, 2016