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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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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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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Korea to face another massive shortfall in tax revenue
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Korea keeps membership in U.N. body for economic, social issues
South Korea has been elected as a member of a U.N. council in charge of overseeing economic and social issues, keeping its membership in the body for 12 consecutive years, the foreign ministry said Wednesday.According to the ministry, South Korea was chosen to keep its membership in the U.N. Economic and Social Council (ECOSOC) from 2017-2019 in an election held in New York on Tuesday (local time).China, the United Arab Emirates and Tajikistan were other Asia Pacific countries elected as council
InternationalJune 15, 2016
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‘House of Secrets’ parodies thriller cliches
The truth is out there, and it may set you free, but can you really handle the truth? And, maybe, just maybe, every turn of events is really a conspiracy in disguise with a bit of truthiness. These and other pop culture axioms that have made their way into the lexicon of common speech are part of the foundation of the 11th novel by international best-seller Brad Meltzer.With “The House of Secrets,” Meltzer launches a new thriller series that will delve heavily into historical conspiracy theories
BooksJune 15, 2016
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Top chaebol owners' 5-year dividend income tallied at W1.46 tln
Dividend payments to the owners of South Korea's top 10 conglomerates were tallied at 1.46 trillion won ($1.24 billion) for the past five years, despite their firms' sluggish earnings, data showed Wednesday.Samsung Electronics Co. Chairman Lee Kun-hee, South Korea's richest man, topped the list with a total of 681 billion won in dividends from 2011-2015, according to the data by Chaebul.com, a corporate information provider on large businesses. Samsung Electronics chairman Lee Kun-hee (Yonhap)La
June 15, 2016
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Record low interest rates offer negative returns on deposits
Interest rates paid by local lenders are nearing zero percent after the country's central bank slashed its policy rate to a fresh record low, which translates into negative returns on bank deposits when price inflation is adjusted, market observers said Wednesday.According to the observers, Citibank Korea has slashed the annual interest rate on its savings accounts for companies to 0.01 percent from 0.1 percent.A 0.01 percent interest rate yields 1,000 won ($0.85) per year in interest on every 1
June 15, 2016
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N. Korea's trade volume drops 18% in 2015
North Korea's trade volume sank 18 percent last year from a year earlier, ending five years of straight growth, due largely to a drop in the prices of its key trading items such as coal and overall shipments, a South Korean trade agency said Wednesday.The North's overall trade volume came to $6.25 billion in 2015, compared with $7.61 billion the previous year, according to the state-run Korea Trade-Investment Promotion Agency.The reclusive country's outbound shipments fell 15 percent on-year to
North KoreaJune 15, 2016
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Woman drops suit against JYJ's Park Yoo-chun over sexual assault
A woman dropped a complaint against Park Yu-chun, a member of popular K-pop boy band JYJ, on Wednesday, on charges of sexual assault, police said.The 20-something woman, whose identity was withheld, filed the case with the Gangnam Police Station on Friday, claiming the singer raped her at a bar in southern Seoul early in the morning on June 4.She had claimed the incident took place in a bathroom located within a room where they had been drinking together, according to police. Park and the woman,
TelevisionJune 15, 2016
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Korea's jobless rate slips to 3.7% in May
South Korea's jobless rate fell slightly in May on a rise in the number of employees in the health and accommodation sectors, with the unemployment rate for young people still remaining high, a government report showed Wednesday.The unemployment rate in Asia's fourth-largest economy stood at 3.7 percent last month, compared with 3.9 percent tallied in April, according to the report compiled by Statistics Korea.The seasonally adjusted jobless rate stayed at 3.7 percent in May.Job creation edged u
June 15, 2016
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Cheil Worldwide to jack up investment, hiring: sources
Cheil Worldwide Inc., the advertising unit of the Samsung Group, plans to raise its investment and hiring this year after its negotiations to sell a controlling stake to a French advertising giant fell apart, industry sources said Wednesday.The company, part of South Korea's largest family-controlled conglomerate, plans to push forward with aggressive mergers and acquisitions and set a goal to expand its sales by more than 10 percent in 2016, they said.The country's No. 1 advertising company log
CompaniesJune 15, 2016
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N. Korea believed to have produced additional 4-6 nuclear weapons since late 2014: ISIS
North Korea is believed to have produced an additional four to six nuclear weapons since late 2014, with its total arsenal now estimated at between 13-21 weapons, a U.S. think tank said Tuesday.The Institute for Science and International Security released the assessment in a report, making estimates about the amounts of weapons-grade plutonium and highly enriched uranium the North is believed to have produced at its Yongbyon nuclear complex.The assessment came after recent reports that the North
North KoreaJune 15, 2016
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Korea's export prices drop 4% in May
South Korea's export prices continued to drop from a month earlier in May, central bank data showed Wednesday, partly contributing to a prolonged slump in the country's exports.In local currency terms, export prices fell 4 percent on-year last month, according to preliminary data from the Bank of Korea.May marks the fifth consecutive month there was an on-year drop following a revised 5.2 percent decline in the previous month.From a month earlier, export prices gained 2.4 percent.The on-month in
June 15, 2016
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Lotte chairman says 'sorry for causing concern' amid slush fund investigation
The chairman of embattled South Korean retail giant Lotte Group said Tuesday he is "sorry for causing concern" over corruption allegations and pledged to fully cooperate with the investigation.Chairman Shin Dong-bin made the remark to reporters at the groundbreaking ceremony for a joint venture chemical plant in Lake Charles as prosecutors stepped up the investigation into allegations that Lotte created slush funds through illicit means.It was the first time Shin has spoken to the media since th
IndustryJune 15, 2016
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U.S. welcomes China's ban on export of dual-use items to N. Korea
The United States on Tuesday welcomed China's decision to ban exports to North Korea of a series of so-called "dual-use" items that can be used not only for civilian, but also for military purposes, such as nuclear and missile development.China's Commerce Ministry announced the measure earlier Tuesday, adding about 40 items to the list of items banned for export to the communist neighbor. The ministry said the decision was part of efforts to implement the latest U.N. Security Council sanctions r
North KoreaJune 15, 2016
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Court rejects arrest warrant request for ex-Hanjin Shipping chief
A Seoul court on Tuesday rejected a prosecution request for an arrest warrant for a former Hanjin Shipping chief accused of illegal stock trading.Last Sunday, the Seoul Southern District Prosecutors' Office filed for a warrant to arrest Choi Eun-young, who is facing charges of misusing insider information to sell company stocks. Choi Eun-young (Yonhap)However, the Seoul Southern District Court said Choi is not considered a flight risk, nor is it concerned that Choi would attempt to destroy evide
IndustryJune 15, 2016
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Prosecutors seeking arrest warrant for ex-Oxy chief
Prosecutors on Tuesday filed for an arrest warrant for the former head of the scandal-ridden local unit of Oxy Reckitt Benckiser.John Lee, currently CEO of Google Korea, has been under investigation over Oxy's toxic humidifier sterilizer, which has caused dozens of deaths and illnesses in South Korea since 2011. John Lee, head of Google Korea (Yonhap)Lee led the South Korean unit of the consumer goods company from June 2005 to May 2010, while sales of its sterilizer product were at their peak.Th
IndustryJune 15, 2016
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Britain wins EU court fight on migrant child benefits
BRUSSELS (AFP) – The EU's top court on Tuesday backed Britain's right to limit child benefits to European migrants, a hot-button issue in Britain's referendum on its future in the European Union next week.The decision comes as a series of opinion polls show a growing lead for the campaign for a "Brexit," despite Prime Minister David Cameron's appeals for people to vote to remain in the 28-nation bloc.The European Court of Justice said it was lawful for Britain to apply a "right-to-reside" rule t
World NewsJune 14, 2016