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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Thousands rally in Seoul to call for Yoon's resignation
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Most teen sex offenders get away with slap on wrist
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Same-sex couple denied insurance clearance despite landmark ruling
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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Suicide attempts spike among youth in Korea
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Panmunjom tours for select Korean nationals may resume in October
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[Market Now] Sajo Haepyo guarantees affiliate loans
Sajo Haepyo, a listed soybean company of Sajo Group, said Tuesday that it will guarantee loans worth 5.7 billion won ($5 million) to its affiliate Sajo Bio Feed borrowed from NH Bank.Sajo Haepyo has set aside some 6.9 billion won as guarantee fund in case Sajo Bio defaults on its loans, the company said in a regulatory filing. Sajo Haepyo has a 25 percent stake in Sajo Bio Feed, which produces livestock feeds. Sajo Industries, a seafood giant, is the biggest shareholder with a 20.9 percent in Sa
April 12, 2016
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Information security solution “ZombieZERO” detects and kills new and modified malware in one minute
Information security solution company NPCore (CEO Han Seungchul) has recently upgraded its information security product “ZombieZERO,” giving it the capability to detect and root out ransomware*, a type of malicious software (malware). It also upgraded the mobile version of the product, which was launched last year. As a result, ZombieZERO is now a comprehensive information security product capable of protecting against a variety of malware threats, including data leakage, network disruptions, an
TechnologyApril 12, 2016
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A sibling fight leads to murder
A middle-aged woman was taken into police custody Tuesday on suspicion of murdering her younger brother. Gyeonggi Suwon Nambu police said that the 52-year-old is suspected of stabbing her brother aged 47 during an altercation, which led to his death. (123RF)The woman, surnamed Kim, had been staying with her younger brother’s family for a number of months. At the time of the alleged attack, Kim is said to have been under the influence of alcohol and angry at her brother’s usual disdainful attitu
Social AffairsApril 12, 2016
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Korean steelmakers accused of dumping in U.S.
U.S. steelmakers have accused South Korean rivals of selling their products at unfairly low prices in America after receiving illegal state subsidies, a trade body here said Tuesday.ArcelorMittal USA and two other American steel companies have filed antidumping and countervailing duty petitions against cut-to-length carbon-quality steel plate makers from South Korea, Austria, China, Brazil and eight other countries, according to the Washington office of the Korea International Trade Association.
IndustryApril 12, 2016
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Park asks people to cast ballots for new parliament
President Park Geun-hye encouraged people on Tuesday to cast their ballots this week to ensure that the new parliament can serve the people and do its job."A new National Assembly should be born," Park said in a Cabinet meeting, adding the new parliament should devote itself to stabilizing the people's livelihoods and revitalizing the national economy.The chief executive's comments came a day before South Koreans go to polls to elect new lawmakers.Park has repeatedly accused the outgoing Nationa
Social AffairsApril 12, 2016
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Forum to delve into smart, interactive design
Under the theme of “Smart Design; Interactive and Visual,” Herald Corp., in collaboration with Seoul Design Foundation, will host the Herald Design Tech 2016 workshop starting in June. The workshop is intended to help foster young, up-and-coming talent in technology and design. During the six-session workshop program, which will take place June through August, participants will be placed into teams where they are given free rein to develop a plan for a marketable product while receiving valuable
Arts & DesignApril 12, 2016
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Hotel Lotte steps up overseas push
Hotel Lotte, one of South Korea‘s leading hotel chains, said Tuesday it will seek more deals for managing overseas hotels to help expand its global reach. Officials of the hotel said Tuesday that the firm is working on deals to manage hotels in the Yantai and Shenyang areas of China, in addition to those in Yangon, the former capital of Myanmar, and Russia‘s Samara, by 2018. Lotte City Hotel Tashkent Palace (Yonhap)Hotel Lotte previously outlined plans to operate up to 50 hotels across the world
IndustryApril 12, 2016
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LGE, K-water to develop floating solar power plant
Local tech giant LG Electronics has teamed up with state-run Korea Water Resources Corp., better known as K-water, to develop floating solar power plants.Floating solar power plants produce electricity from solar panels that are placed on the surface of ponds or reservoirs. The plants are said to be 10 percent more energy-efficient than land-based solar power plants. LG Electronics’ energy business center chief Lee Sang-bong(right) and K-water president Choi Gye-woon pose at a memorandum of unde
TechnologyApril 12, 2016
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[Market Now] Homeplus, Kumho Petro Chemical added to debt watch list
Homeplus, Kumho Petro Chemical and Taeyoung have been newly included in a list of 39 Korean conglomerates with debt levels growing at a significant pace, according to the Financial Supervisory Service on Tuesday.Corporations that saw their debt increase more than 1.36 trillion won last year have been put on the financial regulator’s corporate debt watch list. The aggregate debt of the 39 groups stood at 300.7 trillion won last year, down 2.3 trillion won or 0.8 percent from 303 trillion won a ye
April 12, 2016
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France bewitched by ‘Bojangles,’ a book full of joy and tears
PARIS (AFP) -- It is the literary sensation of the year in France. A first novel by a dyslexic author that has had readers crying -- and laughing out loud -- on the Paris metro. Before he wrote “Waiting for Bojangles” in seven weeks at his parents' home, 35-year-old Olivier Bourdeaut had “failed at just about everything else in my life,” he told AFP. “I wish I was joking,” said the failed estate agent whose last job was a switchboard operator for an educational publishing company, “surrounded by
BooksApril 12, 2016
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Foreign holdings of Korean bonds regionally diversified: analyst
Foreign investors’ holdings of Korean bonds have become more regionally diverse and long-term focused, an analyst said Tuesday.According to data by the Financial Supervisory Service, foreign investors held a total of 97.4 trillion won ($85.2 billion) worth Korean bonds as of March 31, a 600 billion won increase from a month ago.By region, Asia held 37.3 percent of Korean bonds, Europe, 35.5 percent, and the U.S., 14.6 percent.“Since foreign investment in Korean bonds has diversified in terms of
April 12, 2016
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[Market Now] Korea’s tax revenue increases W11tr in first 2 months
The Ministry of Strategy and Finance said that the country’s tax revenue increased by 10.9 trillion won ($9.5 billion) in January-February from the same period last year.The ministry said in a report Tuesday that total tax revenue amounted to 42.7 trillion won in the first two months, despite growing economic uncertainties and slowdown.The report showed that its rate measuring actual tax collection in proportion to target revenue increased by more than 4 percentage points to 19.1 percent.It attr
April 12, 2016
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Fruit not fruity enough? Get your money back
Lotte Super, a major local retailer, will refund all fruit that customers found unsatisfactory in celebration of the 16th anniversary of its foundation.CEO Choi Choon-seok on Tuesday said, “Neither the price nor the size of a fruit has any effect on customers if it is not delicious. We promise to refund or exchange all fruits that fell short of our customers’ expectations.” (Lotte Super)This new policy will be put into practice from Wednesday’s 16th anniversary sales event. Lotte Super will also
FoodApril 12, 2016
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Investors borrowing more to buy Korean shares
More investors borrowed money from brokers to bet on Korean shares, causing the country‘s stock purchases made on credit to rise to a seven-month high.As of April 8, outstanding margin loans reached 7.05 trillion won ($6.15 billion), according to data from the Korea Financial Investment Association on Tuesday. Seoul share prices are displayed at the Korea Exchange. (Yonhap)The figure marks the first time since Aug. 24 last year that the amount surpassed the 7-trillion won mark. It was also up s
April 12, 2016
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[Interview] Vitaliy Raskalov on his Lotte World Tower climb
Vitaliy Raskalov, 21, and Vadim Makhorov, 25, are the first -- and probably the only -- people to scale the 555 meter-tall Lotte World Tower, Korea’s tallest skyscraper, without permission. In a written interview with The Korea Herald on Monday, Raskalov, the more responsive of the duo, said that “Security at the Lotte Tower is very, very good” and that “It was complicated” to break through. A 7-minute-long YouTube video by the two shows exactly how they avoided the security. On the day of the
Social AffairsApril 12, 2016
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From a Korean orphan to NFL owner
No one would have thought that superrich NFL owner Kim Pegula had a sad past. The co-owner of high-profile professional American football teams -- along with her husband Terry Pegula -- has an estimated combined net worth of a whopping $4 billion, according to Forbes. Kim Pegula (left) and Terry Pegula, owners of NFL Buffalo Sabres and Buffalo BillsHowever, Kim started her life penniless. Abandoned in front of a police station in Seoul, Kim became an orphan when she was five years old. Nonethele
IndustryApril 12, 2016
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[Newsmaker] Kakao’s profit estimates nosedive
Kakao, the operator of South Korea’s most-used mobile messenger, is likely to see its profits nosedive in the first quarter despite its aggressive moves to expand mobile and offline businesses, analyst reports said Tuesday. However, the company’s issuance of convertible bonds worth 250 billion won ($219 million) will clear the uncertainty over its funding needs, they said.Kakao’s net profit in the first quarter is expected to have plunged 45.3 percent year-on-year to 22.1 billion won, and operat
TechnologyApril 12, 2016
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Board room member pay 10 times higher than ordinary employees: report
The average annual paycheck of registered board members at major listed companies in Korea was about 10 times that of rank-and-file employees last year, with financial workers earning the most, data showed Tuesday.The average salary of registered board members of 241 companies under the wings of 52 major business groups was 626 million won ($545,771) in 2015, according to the data compiled by the Korea 20,000 Company Research Institute. (123RF)Their wage level was 10 times that of ordinary emplo
BusinessApril 12, 2016
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Sam Kim drops ‘honest’ debut album
Singer-songwriter Sam Kim’s debut album features six self-written, folksy tunes that tell personal stories of his family, hometown and boyish energy. The songs are honest and without pretense, much like the 18-year-old himself. “I feel shy and nervous, but excited. Everything’s unfamiliar. My Korean has improved a lot though, hasn’t it?” said Korean-American Kim on his newfound spotlight at a showcase for his album at Itaewon on Monday. It has been three years since Kim ventured to Korea alone
PerformanceApril 12, 2016
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[Photo News] Samsung rotating laptop
SAMSUNG ROTATING LAPTOP -- Samsung Electronics on Tuesday unveiled its Samsung Notebook 9 Spin, a laptop with a rotating touch screen display that also works like a tablet PC. (Samsung Electronics)
TechnologyApril 12, 2016