Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Thousands rally in Seoul to call for Yoon resignation
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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South Korea grew at slower pace in Q1
South Korea’s economic growth continued to slow in the first quarter on sluggish exports and weak consumption, preliminary central bank data showed Tuesday.From the previous quarter, the country’s gross domestic product grew 0.4 percent in the first three months of this year, reflecting a slowdown from the 0.7 percent on-quarter expansion in the final three months of 2015, said the Bank of Korea. Bank of Korea headquarters in Seoul (Yonhap)From a year earlier, the economy grew 2.7 percent.Broke
April 26, 2016
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[Market Now] Kakao to raise 230 billion won in convertible bonds overseas
Korea’s messaging app operator Kakao Corp. said Tuesday it will offer convertible bonds worth 230 billion won ($200 million) on the Singapore Exchange to raise operating capital.In a public filing in Seoul, Kakao said the convertible bonds will come with a zero percent coupon rate maturing on May 11, 2021. The conversion price is set at 104,933 won per common share of Loen Entertainment, a subsidiary of Kakao that operates the nation’s top online music streaming service. The price is 27.5 percen
IndustryApril 26, 2016
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SK hynix Q1 net profit falls on weaker demand
SK hynix, the world’s No.2 memory chipmaker, said Tuesday its first-quarter profit plunged 65.4 percent from a year earlier due to contracting demand.Net profit stood at 448.03 billion won ($390.3 million) in the January-March period, compared with a profit of 1.3 trillion won the previous year, SK hynix said in a regulatory filing. (Yonhap)Operating profit tumbled 64.6 percent to 561.8 billion won and revenue fell 24.1 percent on-year to 3.66 trillion won, the firm said. Shipments of dynamic ra
IndustryApril 26, 2016
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Ex-Oxy chief summoned over toxic sterilizer probe
A former chief of the South Korean unit of Oxy Reckitt Benckiser was summoned by Seoul prosecutors Tuesday to face questioning over suspicions that the British firm manufactured humidifier sterilizers that resulted in numerous deaths and illnesses.The summons came five years after the government confirmed there is a connection between people who died of lung problems and the chemicals used to clean household humidifiers. Former CEO Shin Hyun-woo showed up at the Seoul Central District Prosecutor
Social AffairsApril 26, 2016
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Seoul equities open lower on financial losses
South Korean share prices opened in negative territory Tuesday on losses in financial shares. The benchmark Korea Composite Stock Price Index edged down 0.9 point, or 0.04 percent, to 2,013.75, during the first 15 minutes of trading. (Yonhap)Financials were hit by pressure from the government to lead corporate restructuring efforts on faltering sectors, such as shipbuilding and construction. Shinhan Financial Group retreated 2.84 percent, and KB Financial Group lost 1.64 percent. Tech shares we
April 26, 2016
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N. Korea strengthens border control, punishment against defectors: report
North Korea has intensified its border control and imposed stronger punishment on those who were caught fleeing the repressive country, a report by a South Korean think tank showed Tuesday.Since 2014, North Korea has raised the level of punishment against people who have sought to escape the nation, according to the white paper on the North's human rights, released by the state-run Korea Institute for National Unification.The report was written based on interviews with 186 North Korean defectors
North KoreaApril 26, 2016
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Maryland high school includes Korean in foreign language curriculum
A high school in the U.S. state of Maryland has decided to adopt the Korean language as part of its official foreign language curriculum, sources said Monday.Eleanor Roosevelt High School, just outside of Washington, plans to teach Korean from the school year starting in August, the sources said. The school plans to announce the decision in a ceremony this week to be attended by Yumi Hogan, wife of Gov. Larry Hogan, according to a news report.The school has included Korean language in its after-
InternationalApril 26, 2016
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U.S. put travel restrictions on N.K. FM in wake of missile test
The United States had put travel restrictions on North Korean Foreign Minister Ri Su-yong while he was in New York for U.N. meetings, after the communist nation conducted a banned test of a submarine ballistic missile, an official said Monday.Since Saturday's missile test, Ri was allowed to travel only to four places -- the U.N. headquarters, his hotel, the North's mission to the U.N., and the airport, State Department spokesman John Kirby said at a regular press briefing."It was a decision that
North KoreaApril 26, 2016
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U.S. House committee calls for greater trilateral cooperation with S. Korea, Japan
The U.S. House Armed Services Committee called for greater security cooperation between the United States, South Korea and Japan as it put forward a draft defense budget bill for next year on Monday."Japan and the Republic of Korea are both treaty allies and critically important security partners of the United States," the legislation said. "Japan and South Korea confront a range of shared challenges to their national security and to stability in the Asia-Pacific region, including the multitude
DefenseApril 26, 2016
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Pentagon still scrutinizing N. Korea's SLBM test
The U.S. Defense Department said Monday it's still scrutinizing North Korea's latest test of a submarine-launched ballistic missile amid conflicting views about whether the launch was successful."We're still assessing the test," Pentagon press secretary Peter Cook said at a regular briefing. "I can't say from this podium at this point exactly how best to characterize it, other than they conducted a test that we feel as once again another provocative act by the North Koreans, one that does nothin
North KoreaApril 26, 2016
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Short-range in N. Korea's SLBM test doesn't signal failure: U.S. expert
North Korea's latest submarine missile test suggests the communist nation has shifted to developing a solid-fuel missile after repeated failures with a liquid-fuel engine, and the short flight distance in the latest test does not mean it's a failure, a U.S. expert said Monday.The North conducted the submarine-launched ballistic missile test on Saturday in the latest in a series of weapons tests aimed at defying international pressure over its nuclear and missile programs. The launch was seen as
North KoreaApril 26, 2016
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AmorePacific runs for breast cancer awareness
South Korean cosmetics giant AmorePacific and the Korea Breast Cancer Foundation kicked off the 2016 Pink Ribbon Love Marathon for breast cancer awareness in Busan on Sunday. The Busan race was the first of an annual series of races that aim to spread public awareness about breast cancer -- the most common form of cancer among women -- and raise funds for low-income breast cancer patients. Social and corporate leaders cheer with other supporters at the Pink Ribbon Love Marathon for breast cancer
IndustryApril 25, 2016
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Saudi to sell less than 5% of Aramco, create $2 trillion fund
RIYADH (AFP) -- Saudi Arabia will sell shares in state oil giant Aramco and set up the world‘s largest wealth fund under a long-term economic reform plan, the deputy crown prince said Monday. Prince Mohammed bin Salman said the plan, dubbed “Saudi Vision 2030”, aimed to end the country’s dependence on oil by 2020. “We have all developed an oil addiction in Saudi Arabia and this is dangerous and has hampered development in many sectors during past years,” Prince Mohammed said in an interview wit
World BusinessApril 25, 2016
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Exploding hoverboards on EU list of ‘made in China’ horrors
BRUSSELS (AFP) - From exploding hoverboards to cancer-causing children‘s pyjamas, the EU on Monday warned of a tide of dangerous products for sale with most still coming from China. Brussels said it had issued 2,072 alerts on unsafe products ranging from toys to clothing and appliances last year, down slightly on the figure for 2014 but still a cause for concern. China remains by far the number one country of origin for dangerous goods, accounting for 62 percent of all dodgy products detected b
World NewsApril 25, 2016
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Park Tae-hwan wins race in long-awaited return
Former Olympic swimming champion Park Tae-hwan won a race in his first competition in nearly 18 months on Monday. Park captured the men‘s 1,500m freestyle race at the 88th Dong-A Swimming Competition in Gwangju, some 330 kilometers south of Seoul. He clocked 15 minutes and 10.95 seconds. He was nearly 15 seconds faster than the runner-up, Park Seok-hyun. It was Park’s first competitive appearance since the National Sports Festival in November 2014. Park served an 18-month international doping su
More SportsApril 25, 2016
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Hyundai Motor to roll out electric SUV by 2018
Hyundai Motor said Monday that it plans to roll out its first electric sport utility vehicle by 2018. Hyundai’s Namyang R&D Center is currently developing the electric SUVs, which can go up to 320 kilometers on a single charge, nearly double the mileage of sedan-type Ioniq Electric’s 180 kilometers. “It is true that we will launch a new electric SUV,” a company spokesman said.Hyundai Motor vehicles bound for export await shipment at a port near the company’s plant in Ulsan. (The Korea Herald fil
MobilityApril 25, 2016
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[Newsmaker] Obama pushes for global trade deals in face of opposition
HANNOVER, Germany (AP) -- President Barack Obama mounted a strong defense of international trade deals Sunday in the face of domestic and foreign opposition, saying it‘s ``indisputable’‘ that such agreements strengthen the economy and make U.S. businesses more competitive worldwide. But he acknowledged that the clock is ticking on his faltering trade agenda. Obama, on a farewell visit to Germany as president, is trying to light a fire under stalled talks about a trans-Atlantic trade deal, a m
World NewsApril 25, 2016
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Fate of Hanjin Shipping in hands of creditors
The fate of Korea’s two largest container carriers, which handle the bulk of Korea’s exports, now rests in the hands of creditors, after years of overcapacity and slowing trade globally led to a free fall in shipping prices. Hanjin Shipping, the nation’s No. 1 carrier by capacity, on Monday officially filed for creditor-led rehabilitation, becoming the second major shipping line to succumb to a mountain of debt this year. Along with the application for debt restructuring, the firm submitted a w
April 25, 2016
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Paradigm shift of financial consumer protection
“I just signed the contract because the salesperson told me that the financial product is safe so that I don’t need to take the risk of losing money. The salesperson didn’t give me an explanation about the possibility of loss.”“The life planner explained that the product covers every relevant disease, so I decided to buy it. And the planner said, I just need to say yes to every question a telemarketer asks. So I did, but I never expected this situation.”Kim Soo-ilThese are consumer complaints wh
April 25, 2016
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[Graphic News] Cigarette consumption rebounds
Cigarette sales rebounded in the first quarter of this year, after a sharp decline early last year due to an increase in prices, according to a Yonhap news report. The report, which compiled data from several financial investment firms, said about 17.7 billion sticks of cigarettes were sold in the first three months of this year, a 40.4 percent increase from the 12.6 billion sticks sold in the same period last year. The government’s increase of the tax on cigarettes by 2,000 won per pack in Janu
IndustryApril 25, 2016