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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Gwangju International Center offers tour to Suncheon
The Gwangju International Center is running a GIC Tour to Suncheon on May 28.The tour will stop at Soggwangsa Temple, which was built in the 11th century and is one of the three jewel temples of Korea.After lunch, the group will move on to Suncheon Bay, a nature reserve famous for its views and its reed beds where you can see mudskippers and crabs.In the afternoon there will be a stop at the Naganeupseong Folk Village, where participants will be able to get a glimpse of the Korea of the past and
Expat LivingMay 19, 2016
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Mass market, Macau’s new target
MACAU -- Pinched by a prolonged economic slowdown as well as toughened regulations by authorities in mainland China, Macau, Asia’s largest gaming market, has been in a downward trend for the last two years. Its revenue dropped by 34 percent last year. The numbers of visitors -- both from the mass and VIP market -- declined, raising concerns of stakeholders in the region about its sustainability.G2E Asia participants look around the event venue inside the Venetian Hotel in Macau on May 17. (G2E A
IndustryMay 19, 2016
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NPS bolsters expat support services
The National Pension Service is providing a ‘Total Care Service’ to foreign residents in Korea that allows them to receive the same national pension provided to Korean nationals. The service includes educating foreigners about the national pension scheme at various counseling centers operated by the NPS. These are located in areas where many foreigners live such as Ansan in Gyeonggi Province. Foreigners receive counselling on their pension at the Ansan Foreign Counseling Center. (NPS)There were
May 19, 2016
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Enhancing consumer goods, service sectors needed to boost growth
It seems only a matter of time for Korea’s economic policymakers to revise down the country’s growth target for this year below 3 percent. This downward revision may come next month when the Ministry of Strategy and Finance announces directions of policies to be pursued in the latter half of the year.The Organization for Economic Cooperation and Development this week cut its 2016 growth forecast for Korea to 2.7 percent from 3.1 percent, citing sluggish global trade and a slowdown in China. It w
May 19, 2016
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[Herald Interview] Christine Cho’s vegan classics come alive in new cookbook
Herald Corp.’s organic food developer Organica has released a new cookbook featuring 40 vegan and raw food recipes penned by its head chef Christine Cho. “When I came (to Organica) last June, we started the blog Christine’s Vegan Kitchen. The recipes started to grow, and we thought we wanted to share them in a book form,” Cho told The Korea Herald in an interview on Wednesday. According to Cho, “Organica Vegan Kitchen” is a guide for Koreans who want to pursue a healthy vegan diet, but do not kn
IndustryMay 19, 2016
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Park calls for fair, transparent trade
President Park Geun-hye called Thursday for "fair and transparent" trade, expressing concerns that a global economic slowdown is fueling a move toward nontariff barriers and unfair trade practices.During an international forum on trade remedies, Park also stressed that Korea will remain a staunch supporter of free and open trade. President Park Geun-hye (Yonhap)"As the volume of trade has recently contracted due to a global economic slump, the temptation has also been increasing for nontariff ba
May 19, 2016
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Government seeking more ways to warn of health risks of drinking
Health warnings put on alcohol labels are scheduled to change for the first time in 21 years starting September to highlight the health risks to pregnant women and youths, and the government is thinking of further raising the severity of the warnings through follow-up revisions, officials said Thursday.A public health law amended in March, to take effect from Sept. 3, requires all alcoholic beverages to carry a label that warns of the increased chances of liver-related ailments and additional se
PoliticsMay 19, 2016
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Government, parties to hold meeting on economy, quality of life
Korean government, ruling and opposition party officials are set to gather for a meeting later this week, political sources said Thursday, where they will discuss challenges facing the national economy and ways to improve people's quality of life.The meeting, slated for Friday, came after President Park Geun-hye agreed earlier this month to organize talks between the finance minister and top policymakers from major parties.She also vowed to hold consultative discussions with heads of political p
PoliticsMay 19, 2016
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Switzerland joins toughened global sanctions on N. Korea
Switzerland has joined the United Nations-led efforts to impose toughened sanctions on North Korea for its nuclear test and other provocative actions earlier this year, a U.S.-based media outlet said Thursday.Radio Free Asia (RFA) said in a report posted on its website that the sanctions, which also included halting financial transactions related to the North, were enforced by the Swiss federal government as of 6 p.m. on Wednesday local time. The move is in tandem with the toughened United Natio
North KoreaMay 19, 2016
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Contemporary Korean artist Kim Hyun-jung opens exhibition in Berlin
Korean artist Kim Hyun-jung opens an exhibition on Thursday in Berlin, the Korean Cultural Center in Germany said.The opening ceremony, attended by the artist herself, will take place at 6 p.m. local time in the center's gallery. One of the most promising young Korean artists, she is widely credited for pushing the boundaries of Korean art by presenting thought-provoking themes with prickly yet humorous wit and experimenting with new artistic techniques in her paintings. Last September she was t
CultureMay 19, 2016
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Korea, Indonesia seek better cooperation in sports after MOU
Korea and Indonesia will bolster cooperation in sports as they signed a memorandum of understanding (MOU) this week following a summit between two countries. The Korean Ministry of Culture, Sports and Tourism confirmed Thursday that it has signed the MOU with Indonesia's Ministry of Youth and Sports after President Park Geun-hye and her Indonesian counterpart Joko Widodo held a summit at Cheong Wa Dae, South Korea's presidential office. The two sides on Monday signed 11 MOUs in areas like infras
More SportsMay 19, 2016
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PM heads to Uzbek, Saudi Arabia, Turkey
Prime Minister Hwang Kyo-Ahn left Korea on Thursday to visit Uzbekistan, Saudi Arabia and Turkey, his office said, in a move aimed at forging closer ties with his counterparts and finding new business opportunities for local companies.During his trip, Hwang will hold a meeting with Uzbek President Islam Karimov, as well as the country's Prime Minister Shavkat Mirziyoyev. He will also hold talks with Saudi King Salman bin Abdulaziz Al Saud to discuss ways to expand ties in energy, construction an
PoliticsMay 19, 2016
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Consumers to include Renault-Nissan CEO in lawsuit over fabricated emissions results
Korean consumers planning a class-action suit against Nissan Korea will also target Carlos Ghosn, CEO of Renault-Nissan, naming him as one of the defendants, a local law firm handling the case said Thursday.Barun Law has about 30 Korean owners of Qashqai, an SUV made by Nissan, who have expressed intent to file the lawsuit against Gosn and Takehiko Kikuchi, the head of Nissan Korea, according to the law firm and industry sources. The filing is expected next week at the Seoul Central District Pro
MobilityMay 19, 2016
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Producer prices rise in April
Korea's producer prices rose from a month earlier in April, marking the first on-month growth in eight months, central bank data showed Thursday.The producer price index for April came to 98.60, up 0.2 percent from 98.42 the previous month, according to preliminary data from the Bank of Korea (BOK). Bank of Korea (Yonhap)Producer prices serve as an indicator of future consumer inflation.The increase marked the first on-month rise since August 2015. The April tally also marked the highest reading
May 19, 2016
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90% of industry groups see overcapacity
Ninety percent of industry organizations see their areas of business running at overcapacity, a survey showed Thursday, mostly from competing nations entering the local market.The survey conducted by the Federation of Korean Industries (FKI) took answers from 30 organizations by industries, including construction, automobiles, shipbuilding, steel and textiles. Results showed 27 groups responding that the key products in their industries were in excess supply. Federation of Korean Industries (Y
IndustryMay 19, 2016
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Samsung, SK hynix suffer setbacks in Q1 chip sales
Korean chipmakers saw their sales of dynamic random access memory (DRAM) chips drop in the first quarter of the year due mainly to falling prices and increased competition.According to the data compiled by industry tracker DRAMeXchange, Samsung Electronics, Korea's top chipmaker, logged sales of $3.97 billion in the January-March period, down 16.6 percent from $4.76 billion the previous quarter.SK hynix posted sales of $2.32 billion in the first quarter, also down 19.2 percent from $2.86 billion
TechnologyMay 19, 2016
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Korean shares open lower on Wall Street losses
Korean shares opened slightly lower Thursday, tracking overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.27 percent, or 5.35 points, to 1,951.38 in the first 15 minutes of trading.(Yonhap)On Wednesday, the Dow Jones industrial average slipped 0.02 percent to 17,526.62.Most large caps were in negative terrain.Cosmetics giant AmorePacific plunged 1.31 percent, with top portal operator Naver tumbling 1 percent.Top cap Samsung Electronics added 0.08 perce
May 19, 2016
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Shipbuilders pull out of wind power biz amid slump
South Korea's major shipbuilders are pulling out of wind power generation projects as they are reeling from massive losses and a drawn-out slump in the global economy, industry sources said Thursday.Since 2009, local shipyards, led by Hyundai Heavy Industries Co., have been tapping the alternative energy business sector as part of efforts to diversify their business portfolios.But lower oil prices and mounting losses stemming from their mainstay business are forcing them to close down the loss-g
IndustryMay 19, 2016
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[Market Now] Logen Logistics may find new owner in June
Logen Logistics, Korea’s fourth-largest package delivery firm, may find a new owner in early June, as its main bidding has been set for later this month, local news reports said Thursday.The company is currently owned by Hong Kong-based Baring Private Equity Asia, which acquired 100 percent stake from Mirae Asset Private Equity in 2013 for 158 billion won ($132 million).Deal manager JP Morgan is expected to complete due diligence and hold the main auction in late May, they said.Earlier in March,
May 19, 2016
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N.K. leader calls for factory's modernization by party's founding anniversary
North Korean leader Kim Jong-un has called on a factory to modernize the process of producing machines by the founding anniversary of the ruling party in October, the North's state media said Thursday.Kim's remarks were made while inspecting a machine manufacturing plant in North Pyongan Province. The visit marks the third time he made an on-site inspection after the country concluded its key party congress on May 9.Pyongyang used the four daylong event to help strengthen Kim's heavy-handed rule
North KoreaMay 19, 2016