Most Popular
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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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Korea to face another massive shortfall in tax revenue
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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[Photo news] Faker Mercedes
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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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N.K.’s talks offer presents dilemma
South Korea on Saturday immediately snubbed North Korea’s proposal to hold an inter-Korea working-level military meeting, but with a bitter aftertaste.Observers here said Pyongyang is likely to continue sending overtures for talks as it faces tough sanctions by the international community against its nuclear programs, in a strategic attempt to shift the blame over to Seoul for the protracting standoff.Pyongyang, on the coattails of holding its first ruling party congress in 36 years, had called
North KoreaMay 22, 2016
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Debate grows over political realignment
A debate over possible political realignment is growing as signs of partisan split continue to loom large at the ruling Saenuri Party and moderate bigwig politicians volunteer to lead the new wave.At the center of the talks are independent veterans originating from mainstream parties. They suggest that new political entities are needed to overhaul factional strife and reform-minded moderates should rally behind the move.Fomenting such an atmosphere is the aggravating internal feud at the ruling
PoliticsMay 22, 2016
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Gangnam murder was not a hate crime: police
South Korean police concluded Sunday that the recent murder of a 23-year-old woman in southern Seoul was a random crime by a man suffering from mental illness. The Seoul Metropolitan Police Agency said in a press briefing that the killing by the 34-year-old man, only identified by his surname Kim, was a typical crime committed by the mentally disturbed.Kim was arrested last week on suspicion of stabbing the woman to death at a public bathroom near Gangnam Subway Station on May 17. He allegedly w
Social AffairsMay 22, 2016
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[HERALD INTERVIEW] Murayama urges Abe to offer written apologies to sex slavery victims
With many wartime sex slavery victims staunchly resisting the recent settlement with Seoul, Japanese Prime Minister Shinzo Abe should write a letter to each of them to deliver his sincere atonement and expedite the deal’s execution, a former Japanese leader told The Korea Herald. Tomiichi Murayama, who offered a watershed apology in 1995 for the country’s sexual enslavement of Korean women and other atrocities, said he “welcomes” Abe’s acknowledgement of the government’s responsibility and apolo
Foreign AffairsMay 22, 2016
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Seoul to survey pet breeding farms
The Agriculture Ministry said Sunday that it would be beginning a survey of all animal breeding farms, but that under current law it would be difficult to penalize those operating illegally.The announcement came after public outcry over the unsanitary and cruel conditions of a dog breeding farm in South Jeolla Province that was broadcast recently on a local TV show. The program showed hundreds of female dogs locked in tiny cages, forced to become pregnant and give birth repeatedly in squalid con
IndustryMay 22, 2016
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Koreans’ overseas card spending hits record for Q1
Overseas card spending by South Koreans hit $3.3 billion in January-March, the highest figure recorded for the first quarter, government data showed Sunday.According to the Bank of Korea, overseas spending -- made with credit cards, debit and direct payment cards -- in the first three months this year rose 2.7 percent year-on-year from $3.2 billion a year earlier.The number of Koreans who traveled overseas jumped 18.3 percent to 5.56 million in the first quarter from a year earlier, according to
May 22, 2016
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FTC confirms W500m fine for Namyang
Namyang Dairy Products will be fined 500 million won ($420,000) for its past unfair practices towards retailers instead of the original fine of 12.3 billion won, the Fair Trade Commission confirmed Sunday.The decision is in accordance with a court decision passed in January 2015 by the Seoul High Court and affirmed by the Supreme Court in June, citing lack of evidence for the full penalty.In 2013, the FTC reported Namyang to prosecutors for bullying sales agents and retailers into buying excess
IndustryMay 22, 2016
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[Photo News] LG OLED TV at Picasso exhibition
TechnologyMay 22, 2016
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Samsung to shake up employee titles
Samsung Electronics plans to announce a new structure of employee titles next month that aims to promote talented workers based on performance regardless of age or years of experience. According to industry sources Sunday, a task force team within the human resource management division has worked on the revision since the company’s announcement of a new corporate vision “Start-up Samsung” in March. Samsung has maintained a typical structure of five employee ranks that is common at other Korean
TechnologyMay 22, 2016
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Samsung widens gap with Apple in market share
Samsung Electronics further widened the gap with runner-up Apple in terms of smartphone sales in the first quarter.According to research firm Gartner, Samsung’s smartphone sales were slightly up at 81.2 million units in the first three months of the year, making it the world’s largest smartphone-maker and earning it 23.2 percent market share. Its archrival Apple sold 51.6 million smartphones, which compared to 60.2 million iPhones sold in the same period a year ago. Its market share was down fro
TechnologyMay 22, 2016
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Bill on hearings unlikely to be on table at this week's Cabinet meeting
A controversial bill empowering parliament to open hearings more often is not likely to be dealt with at this week's Cabinet meeting due to a lack of time for review ahead of President Park Geun-hye's overseas trip, officials said Sunday.Korea's presidential office on Friday called for a revision to the bill, passed on Thursday, on concerns that a possible abuse of the law and convocation of unnecessary hearings could hamper state affairs.The National Assembly could send the legislation to the g
PoliticsMay 22, 2016
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Carbon trading fails to take root in Korea
Korean companies have rarely traded their carbon emission rights on the South Korean main bourse this year due to a weak supply, data showed Sunday.According to the Korea Exchange, the total volume of traded emission rights stood at 1.08 million tons as of Thursday, a combined figure of 113,000 Korean allowance units and 968,000 Korean credit units. (123rf)Korean allowance units refer to the rights allocated directly by the government. Korean credit units are offset emission permits, converted f
IndustryMay 22, 2016
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NPS picks four candidates to run hedge funds-of-funds
Korea’s National Pension Service, which manages the world’s third-largest public pension fund after Japan and Norway, said it has shortlisted four companies as candidate operators of hedge fund of funds (FoHF).The four are BlackRock Alternative Advisors, Blackstone Alternative Asset Management, Grosvenor Capital Management and UBS Hedge Fund Solutions, the NPS said in a statement.The NPS will narrow them down to two finalists by September and assign them $1 billion investment in FoHF, it said.Th
May 22, 2016
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Korea's exports may be rebounding: data
Korea's exports have posted a 2.1-percent increase so far this month from a year earlier, raising hopes of an end to negative growth that lasted for more than a year, data showed Sunday.Outbound shipments totaled $24.8 billion from May 1-20, up 2.1 percent from the same period last year, according to the Korea Customs Service (KCS).It marks the first time in 2016 for South Korea's export volume to record an increase on-year in the first 20 days of a month.Korea, a major regional economy, suffere
May 22, 2016
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S. Korea set to unveil steps to help local firms at Kaesong complex
South Korea plans to unveil a set of measures as early as this week to support local firms that suffer from business setbacks due to the shutdown of a joint industrial park in North Korea, a Seoul official said Sunday.The government is likely to soon announce supportive measures to help South Korean firms facing financial losses from Seoul's decision to close the Kaesong Industrial Complex in the North in February. Kaesong Industrial Complex (Yonhap)On Feb. 10, South Korea shut down the complex,
IndustryMay 22, 2016
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Korean-American GOP members vow to play bridging role between Korea, Trump
Republican presidential candidate Donald Trump is expected to refine his foreign policy now that he's clinched the nomination, a senior Korean-American Republican Party official said.Michelle Park Steel, vice chair of California's Orange County Board of Supervisors, made the remark, vowing to play a bridging role between her native South Korea and Trump amid concerns about the negative effects a Trump presidency could have on the alliance between the two countries.Steel, the first Korean-America
InternationalMay 22, 2016
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N.K. proposes working-level meeting for military talks with Seoul
North Korea on Saturday proposed holding a working-level meeting with South Korea in late May or early June in preparation for military talks that can diffuse tension on the Korean Peninsula.Pyongyang's charm offensive toward Seoul came one day after it called on South Korea to immediately accept its latest proposal for inter-Korean dialogue made by the North's leader Kim Jong-un at the country's recently concluded ruling party congress."We propose to hold working-level contact for opening (the
North KoreaMay 22, 2016
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S. Korean prime minister calls for improved ties with Uzbekistan
South Korean Prime Minister Hwang Kyo-ahn called for efforts to boost economic ties and cooperation with Uzbekistan on Saturday, also urging additional efforts to jointly develop new overseas markets. The call came at a ceremony marking the construction of a chemical plant in Ustyurt, Uzbekistan, under a joint development project called "Surgil." "The Surgil gas plant is a milestone of cooperation between South Korea and Uzbekistan, and the success of the Surgil project was possible only bec
Foreign AffairsMay 21, 2016
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N. Korea pushes S. Korea to accept its dialogue proposal
North Korea again urged South Korea to accept its proposal for military talks Saturday in its latest charm offensive toward Seoul. In a statement carried by the North's official Korean Central News Agency (KCNA), a ranking official from the country's ruling Workers' Party called on the Seoul government to accept the dialogue proposal made by North Korean leader Kim Jong-un at the recently concluded party congress. "If South Korea is willing to improve its relations with the North, it should
North KoreaMay 21, 2016
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S. Korea, Portugal initial aviation pack to operate direct flights
South Korea and Portugal have initialed an agreement that may allow operation of direct flights connecting the two countries, the Seoul government said Saturday. The bilateral air transport agreement was initialed at the end of two-day talks held in Lisbon on Friday, according to the Ministry of Foreign Affairs. If signed, the agreement will provide the legal foundation for direct flights for passengers and cargo between the two countries. It will also allow code-sharing, under which one c
Foreign AffairsMay 21, 2016