Most Popular
-
1
Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
-
2
Host of Miss Korea apologizes for 'inappropriate question' about deepfake
-
3
Korea to face another massive shortfall in tax revenue
-
4
Who's lying? Hybe vs. Min conflict continues to intensify
-
5
[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
-
6
[Photo news] Faker Mercedes
-
7
SK hynix outpaces Samsung, Micron with more powerful AI chips
-
8
Power of nostalgia brings K-pop legends back together
-
9
North Korea unveiling uranium enrichment site a US election-conscious move: NIS
-
10
'Shaman says president will die,' caller warns
-
Employment policy worsens job market polarization
President Park Geun-hye’s administration has put top priority on increasing employment. In June 2013, it unveiled a roadmap to boost the country’s employment rate gradually to 70 percent by 2017.Finance Minister Yoo Il-ho, who also serves as deputy prime minister for economic affairs, last week acknowledged the goal might be unachievable.“To be candid, (I) think it may be a little difficult to accomplish the employment rate of 70 percent,” said Yoo during a lecture to a group of regional busines
May 30, 2016
-
Flight passengers for April up 7.4%
The number of flight passengers in April rose 7.4 percent on-year, the Transport Ministry said Monday.According to the ministry’s data, 8.36 million people took flights in April, continuing a steady increase from 2012. Of them, 5.7 million were international flyers, up 8 percent from last year thanks to expanded routes operated by low-cost carriers.The most notable increases were in flights to Oceania, Japan and Southeast Asia, regions well-served by budget carriers. Flights to those areas rose
IndustryMay 30, 2016
-
Lippert recalls last year's knife attack as chance to prove strong Korea-U.S. alliance
The near-fatal knife attack he sustained during a lecture event in South Korea last year turned out to be a good opportunity to prove the robust nature of the bilateral alliance between Seoul and Washington, U.S. Ambassador to Seoul Mark Lippert said Monday.The U.S. envoy was attacked by a knife-wielding South Korean man in March 2015, which left him with deep gashes that required more than 80 stitches and six days of hospitalization. The 56-year-old assailant, Kim Ki-jong, is currently serving
Foreign AffairsMay 30, 2016
-
Negotiations still ongoing for Kim’s Club sales: spokesman
Korea’s mid-tier business group E-Land Group’s negotiations to sell retail chain Kim’s Club to U.S. private equity giant KKR are still ongoing, the company’s spokesman said Monday.Hwang Woo-il, spokesperson of E-Land Group, denied a Yonhap News Agency report that said the group’s chief Park Sung-soo at a boardroom meeting ordered company officials to thoroughly reconsider the sales of Kim’s Club and listing of its operator E-Land Retail.“The news report is completely groundless. The deal is stil
May 30, 2016
-
Mirae Asset’s ETFs more than double over five years
The exchange traded fund assets held by Mirae Asset Global Investments have doubled over the past five years thanks to its diversified product portfolio, the company said Monday. “ETFs are typically designed to track stock and bond indices, but Mirae Asset Global Investments has boosted the portion of actively managed products for investors seeking higher returns,” the company’s official said. As of end-April, the company’s global ETF assets under management came to $11.1 billion, up 148 percent
May 30, 2016
-
Hyundai Motor beats rivals in registering U.S. clean energy patents in Q3
Hyundai Motor Group, South Korea's top automotive group, acquired the largest number of patents on clean energy technology in the United States in the third quarter of 2015, the Clean Energy Patent Growth Index showed Monday. Among 916 clean energy patents registered with the U.S. Patent and Trademark Office in the July-September period, the combined patents by Hyundai Motor Co. and its company Kia Motors Corp. ranked top with 54, according to the index released by the Cleantech Group.Japan's To
MobilityMay 30, 2016
-
Seoul city opens its first career support cafe
The Seoul city government opened its first career support cafe at a bustling university neighborhood on Monday as young people scramble to secure good positions in a very tough job market.The Seoul Metropolitan Government said it equipped the cafe, located near Hongik University in western Seoul, with seminar rooms, books and media boards that provide a wide range of information for those seeking employment."The new cafe is just like any other cafe, except for the fact that it has information jo
Social AffairsMay 30, 2016
-
Chinese firm proposes investing W211 bln into Dangjin marina project
A Chinese state-run company has proposed a plan to invest a total of 210.7 billion won ($177.2 million) in a South Korean marina project, the government said Monday.The Ministry of Oceans and Fisheries said Liaodi Group, a construction and engineering firm run by China's Liaoning Province, submitted a proposal last week for the marina project in Dangjin on the west coast. Dangjin, Korea (Yonhap)The South Korean government has announced a set of projects to build six marina harbors, including one
IndustryMay 30, 2016
-
Opposition criticizes Ban's 'political' remark
Officials from South Korea's opposition parties continued to criticize U.N. Secretary-General Ban Ki-moon on Monday following a remark that hinted at him possibly running in the next presidential race, as such a development is expected to seriously complicate their efforts to bring about regime change."Ban just came out and settled the battle between pro- and anti-Park Geun-hye factions within the Saenuri Party," said Park Jie-won, the floor leader of the minor People's Party, during an intervie
PoliticsMay 30, 2016
-
Sales at department stores rise in April
Sales at South Korea's major department stores gained at the fastest clip in three months in April from a year earlier on promotion events, government data showed Monday.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- jumped 4.3 percent on-year last month, the highest on-year gain since January, when it marked a 9 percent on-year gain, according to the data compiled by the Ministry of Trade, Industry and Energy.At the same time, the major discount stores of E-Mar
IndustryMay 30, 2016
-
Kim Whan-ki's painting fetches 4.56 bln won in H.K. auction
South Korean painter Kim Whan-ki garnered the third-highest price for a Korean painting in a recent auction in Hong Kong, an auction firm said Monday, proving once again that the late artist's unique artworks are in high demand among art collectors."Untitled 3-V-71 #203" painted in 1971 by the country's abstract art pioneer was auctioned off for 4.56 billion won (HK$30 million) in the art event by Seoul Auction, South Korea's biggest art auction company. It was held at the Grand Hyatt Hotel in H
CultureMay 30, 2016
-
More than half of senior Army officers overweight: study
More than half of South Korea's senior Army officers are either obese or overweight, many of them gaining weight with age and because of their career-related lifestyle, a study showed Monday.Based on body mass index, 34.9 percent were found to be obese while 25.9 percent were assessed as overweight, according to the study conducted jointly by Prof. Park Jung-sook of Keimyung University's Nursing College and a team led by Prof. Chang Soon-yang of Daegu University's Nursing Department. The study r
DefenseMay 30, 2016
-
Hyundai Merchant in last-ditch effort to cut charter rates
Financially troubled Hyundai Merchant Marine Co. is in its last-ditch effort to trim the leasing rates for its chartered ships, industry sources said Monday, as the country's No. 2 shipper has made some progress in the negotiations.Since February, Hyundai Merchant, the country's No. 2 shipper, has been in talks with the ship owners of its chartered vessels to slash the leasing rates, one of the key prerequisites demanded by its creditors, led by the state-run Korea Development Bank, to stay aflo
IndustryMay 30, 2016
-
3 N.K. overseas restaurant workers may arrive in Seoul this week: source
Three North Korean women, who fled from a restaurant where they worked in China, may arrive in South Korea as early as this week, a source familiar with North Korean affairs said Monday.The North Korean women in their late 20s and known to be seeking to defect, are staying in Thailand, awaiting to board a flight to Seoul, after escaping a North Korean-run restaurant in the Chinese northwestern province of Shanxi, according to the source."They may arrive in South Korea as early as this week," the
North KoreaMay 30, 2016
-
Korea, France to bolster cooperation on Fintech
Aiming to become a hub of Asia's financial technology (Fintech) sector, South Korea agreed Monday to join hands with France.The two sides signed a memorandum of understanding on sharing related information and supporting their Fintech firms on each other's soil.The deal between South Korea's Fintech Center and the French Tech Hub Seoul was reached on the sidelines of a joint Fintech seminar to commemorate the 130th anniversary of the two nations forging formal diplomatic relations."When South Ko
May 30, 2016
-
Bullard says world well prepared for U.S. rate hike
The president of the U.S. Federal Reserve Bank of St. Louis hinted at a possible U.S. rate hike in the near future Monday, claiming the world is well prepared for a U.S. rate hike."My sense is that markets are well prepared for a possible rate increase globally," James Bullard told reporters here. "My idea is that if all goes well, this will come out smoothly, and you won't get too much of a reaction in the global financial market."The St. Louis FRB president was on a visit to attend an internat
World BusinessMay 30, 2016
-
Park's approval rate gains ground on Africa visit
President Park Geun-hye's approval rating edged up last week from the previous seven-day period, data showed Monday, as the public cheered her efforts to expand diplomatic ties with Africa.According to the data compiled by RealMeter, Park's approval rating came to 33.9 percent, up 1.6 percentage points from a week earlier. The poll was conducted on 2,532 South Koreans last week.The disapproval rate of Park's performance came to 61.3 percent, down 1.6 percentage points over the cited period. The
PoliticsMay 30, 2016
-
Sales of hybrid cars jump on environmental concerns, new models
Sales of hybrid cars have fast risen in South Korea this year as the popularity of diesel vehicles is losing its spark due to the loss of consumer trust and rising concerns over air pollution, data showed Monday. Korean automakers sold a combined 14,173 hybrid cars in the first four months of the year, up 42.4 percent from a year ago, the Korea Automobile Manufacturers' Association said.A hybrid vehicle uses two or more distinct types of power, such as an internal combustion engine and an electr
MobilityMay 30, 2016
-
Chronic exposure to fine dust linked to high blood pressure: study
There is a correlation between long-term exposure to fine dust and cardiovascular diseases, such as high blood pressure, a study showed Monday, casting concerns among the public over the influx of pollutants from home and abroad.The annual rise in fine dust emissions increases the number of people with high blood pressure, or hypertension, by 4.4 percent, according to the study conducted by a team of scientists at Seoul National University.The study was conducted after analyzing data on more tha
TechnologyMay 30, 2016
-
More women joining, receiving benefits from national pension system
More women are getting state pensions for the elderly, now accounting for about one-third of the total recipients, the latest tally showed Monday.The National Pension Service had 3.16 million subscribers as of February this year after surpassing the 3 million line for the first time in 2015. The number compares with 2.49 million in 2011. National Pension Service (Yonhap)Of the total, elderly female recipients accounted for 995,693.This number is up from 764,719 in 2011.The NPS said more women we
May 30, 2016