Most Popular
-
1
Who's lying? Hybe vs. Min conflict continues to intensify
-
2
Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
-
3
Most teen sex offenders get away with slap on wrist
-
4
Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
-
5
Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
-
6
Same-sex couple denied insurance clearance despite landmark ruling
-
7
FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
-
8
Panmunjom tours for select Korean nationals may resume in October
-
9
Young Poong says no better offer for Korea Zinc
-
10
Thousands rally in Seoul to call for Yoon resignation
-
BoJ surprises as it holds off stimulus, delays inflation target
BoJ surprises as it holds off stimulus, delays inflation targetThe Bank of Japan shocked markets Thursday as it held fire on a fresh round of widely expected stimulus measures, sparking questions about whether it had anything left in its arsenal to kickstart the stuttering economy.Dealers were caught off guard by the decision, especially after another set of weak economic data in the morning had turned up the heat on policymakers to help ignite growth.The yen soared on the decision -- the BoJ al
World BusinessApril 28, 2016
-
Lighter, fizzier, fruitier: Alcohol trends for summer
Beer usually dominates the alcoholic beverage market in summer, but other alcoholic beverage manufacturers are hitting back this year with a slew of fruity, light, sparkling alternatives. The most visible trend is in carbonated alcoholic drinks.Lotte Chilsung Liquor, which set off a boom of fruit-flavored, soju-like liqueurs with its brand Soonhari Chum Churum, expanded into the carbonated category this year to make up for the declining sales of its Soonhari lineup. Soonhari Soda Tok Apple (Lot
IndustryApril 28, 2016
-
[Newsmaker] Samsung BioLogics to make blockbuster IPO
Samsung BioLogics on Thursday said that it would pursue an initial public offering on South Korea’s main bourse, the KOSPI, with plans to complete the IPO process within this year.The company stated plans to select advisers to lead its IPO by next month to decide on the exact timing and the volume of shares to be offered. Samsung BioLogics declined to comment on the potential size of the IPO. However, industry analysts estimate at least 3 trillion won ($2.6 billion) worth of new shares will be i
IndustryApril 28, 2016
-
Multi-brand cosmetic shops expand presence in Korea
Cosmetic shops that sell various brands under one roof have steadily expanded their presence in Korea, giving sophisticated customers more options, according to industry officials Thursday.AmorePacific, Korea's No. 1 cosmetic company, operates about 1,350 multi-brand stores, called "Aritaum," nationwide, which offer a wide selection of its products, including such mass brands as Laneige and IOPE. The company also operates single brand shops such as Innisfree and Etude House in the lower-end and
IndustryApril 28, 2016
-
Underdogs in summer movies include originality, opportunity
NEW YORK (AP) – Hollywood’s summer, which kicks off with the fittingly combative “Captain America: Civil War,” will be a season of struggle: for box office, for originality and for opportunity. More than ever, the big tent of summer moviegoing is held up by a forest of tentpoles stretching from May to August. The swelling size of the summer movie has turned the season into a game of survival. The possibility of bombing lurks as an ever-present threat, testosterone often dominates in front of an
FilmApril 28, 2016
-
Korea's industrial power consumption inches up in Q1
Korea's industrial electricity sales grew slightly from a year earlier in the first three months of the year on a business recovery in the chip and oil refinery sectors, the government said Thursday.The amount of electricity consumed by the country's industrial sector reached 69.36 billion kilowatt-hours in the January-March period, up 1.5 percent from the same period last year, according to the Ministry of Trade, Industry and Energy.It marked a turnaround from a 1.2-percent on-year drop in the
April 28, 2016
-
Korea to hold shopping festival for foreign tourists in fall
The Korean government said Thursday it will hold a shopping festival engaging major retailers, manufacturers and traditional markets to draw foreign travelers and boost stagnant domestic consumption. The Ministry of Trade, Industry and Energy said it will join hands with the Ministry of Culture, Sports and Tourism to hold the shopping campaign from Sept. 29 to Oct. 31 across the nation. "We will hold various cultural and entertainment events during the period to make it a global festival that co
April 28, 2016
-
Gov't to urge conglomerates to limit pay raises for management
The government said Thursday it will ask some of the nation's largest conglomerates to limit the amount of pay raises given to the highest earning management-level employees as the country moves to restructure struggling industries hurt by the global economic downturn and create more jobs for young people.The Ministry of Employment and Labor is set to meet with the CEOs of the nation's 30 largest conglomerates later in the day and urge them to refrain from giving generous raises to the highest p
IndustryApril 28, 2016
-
Pharmaceutical firms expect stronger sales during China's Labor Day holiday
Korean pharmaceutical companies are strengthening their promotions to sell more of their mainstay products to incoming Chinese tourists during China's Labor Day holiday, industry sources said Thursday. Local pharmaceutical firms such as Handok and Kyung Nam Pharm have rolled up their sleeves to attract as many Chinese tourists as possible during the three-day national holiday that starts on April 30, they said. Myeongdong shopping district in Seoul (Yonhap)Handok has supplied more of its Ready
IndustryApril 28, 2016
-
May's extended holiday to drive up travel demand
The latest government decision to designate May 6 as an extra holiday to pave the way for a four-day break is expected to sharply drive up people's leisure activities, as well as their reservations for domestic or overseas travel, local online shopping sites said Thursday. As the government has designated an extra day off between Children's Day on May 5 and the weekend, Koreans are rushing to make reservations for travel to Jeju Island or neighboring countries such as China, Taiwan and Hong Kong
April 28, 2016
-
Bank lending rates on household loans rise in March
Bank lending rates on new household loans climbed from a month earlier in March while interest paid on fresh bank deposits dipped to a six-month low, central bank data showed Thursday.The average interest rate on new household loans extended by local banks came to 3.24 percent in March, up 0.03 percentage point from the previous month, according to preliminary data from the Bank of Korea (BOK). Apartment complex in Seoul (Yonhap)The on-month rise marked a turnaround from a drop of 0.07 percentag
April 28, 2016
-
GM Korea gets over 2,000 preorders for all-new Malibu
GM Korea, the local unit of U.S. carmaker General Motors, said Thursday that it has received more than 2,000 preorders for the all-new Malibu midsize sedan in just a day after its official debut here.The figure is much larger than other competing models whose preorders usually stand at a daily average of around 400, experts say. GM Korea Malibu midsize sedan (Yonhap)During an unveiling event on Wednesday, when it started receiving preorders, GM Korea did not elaborate on any sales target for the
MobilityApril 28, 2016
-
Sales at department stores rise slightly in March
Korea's major department stores saw their sales edge up in March from a year earlier, but sales of discount chains retreated amid sluggish domestic demand, government data showed Thursday.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- edged up 0.3 percent on-year last month, while those of major discount stores of E-Mart, Lotte Mart and Home Plus fell 4.6 percent, according to the data compiled by the Ministry of Trade, Industry and Energy. Lotte Department Stor
IndustryApril 28, 2016
-
SK Telecom's Q1 sales, operating profit fall on higher costs
SK Telecom, Korea's top mobile carrier, reported a fall in its first-quarter sales and operating profit from a year earlier on Thursday amid the sluggish market and higher costs from some subsidiaries.Its revenue dropped 0.3 percent on-year to 4.22 trillion won ($3.68 billion) in the first three months of 2016, the Seoul-based firm said in a regulatory filing.It attributed the decline to the elimination of sign-up fees and increased number of subscribers using contract-based mobile fee discounts
IndustryApril 28, 2016
-
Stepfather arrested for beating high schooler
A stepfather who habitually beat his stepdaughter in the name of discipline was given 16 months in prison on Thursday. The 36-year-old beat the high schooler with iron bars, claiming he had only meant to discipline her for not studying enough or for sleeping in. (123RF)The Daegu court decided that the man’s use of violence went over acceptable boundaries of discipline and threatened the girl’s psychological development.While he was sentenced to 18 months in the original trial, however, the app
Social AffairsApril 28, 2016
-
Analysts failed to foresee collapse of Hanjin Shipping shares
Local analysts are under fire for failing to foresee a plunge in the share prices of Hanjin Shipping. On Monday, Hanjin shares plummeted by the daily limit of 29.94 percent after company applied for a creditor-led debt restructuring. Two days later, share prices closed at 1,900 won, down to just over half of their value on Jan. 4, when they were trading at 3,540 won. Hanjin Shipping (Bloomberg)Individual investors claim that the brokerages failed in their jobs, as none of the brokerage reports
April 28, 2016
-
Ministop selling 1,000-won iced coffee
Convenience store chain Ministop will be selling “Big Iced Coffee” for 1,000 won (80 cents) until May 8. The move to increase the size of the beverage and reduce its price was done to meet rising demand for convenience store coffee in larger sizes, according to Ministop. Customers should first grab a cup of ice before purchasing the coffee at the convenience store counters. (Ministop)By Lim Jeong-yeo (kaylalim@heraldcorp.com)
Expat LivingApril 28, 2016
-
New Paris museum for one of world's top art collections
PARIS (AFP) - One of the world's biggest private art collections, amassed by French billionaire Francois Pinault, is to be housed in a new Paris museum a stone’s throw from the Louvre, the city's mayor said Wednesday. Luxury goods mogul Pinault, who also owns the auction house Christie’s, is taking over the domed Bourse de Commerce in the centre of the French capital to show his 1.4-billion-dollar collection of modern masters. Mayor Anne Hidalgo, who negotiated the deal, described the museum as
PerformanceApril 28, 2016
-
N. Korea says U.S. sanctions tool for aggression
North Korea said Thursday that sanctions imposed by the United States are a major tool used by the superpower to carry out its aggression-oriented foreign policy.A spokesperson for the North's foreign ministry made the claim, saying that officials of the U.S. administration, including the Treasury Department, have suggested implementing a "sanctions doctrine" to ratchet up pressure against other countries.In an answer to questions raised by the North's official Korean Central News Agency, the un
North KoreaApril 28, 2016
-
Park warns against N.K. provocations
President Park Geun-hye on Thursday warned against North Korea's additional nuclear test, stressing that South Korea would never condone any provocative acts that would destabilize regional security.During a Cabinet meeting, she ordered the government to maintain robust preparedness to ensure national security. Her warning came amid signs of the communist regime preparing for yet another nuclear test at its northeastern Punggye-ri site."Ahead of its seventh party congress, Pyongyang has been pre
DefenseApril 28, 2016