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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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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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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Ineligible for Olympics, swimmer Park Tae-hwan undecided on entering nat'l team trials
Disgraced former Olympic swimming champion Park Tae-hwan remains undecided on entering the upcoming national team trials, after he has been ruled out of this year's Summer Games, his agency said Tuesday.Park has registered to compete in the men's 100m, 200m, 400m and 1,500m freestyle races at the 88th Dong-A Swimming Competition starting on April 25 in Gwangju, some 330 kilometers south of Seoul, according to the meet organizers.The competition will double as the second round of the national tea
More SportsApril 12, 2016
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Seoul, Washington committed to democracy in elections: Lippert
U.S. Ambassador to Seoul Mark Lippert said Tuesday that Seoul and Washington are firmly committed to democracy through elections, as South Koreans are set to cast their ballots to elect new lawmakers this week."One of our key issues in bilateral relationship is our shared commitment to democracy in the elections," Lippert said in a congratulatory speech to mark the start of the 2016 Seoul International Forum on Elections held in Seoul.South Koreans go to the polls Wednesday to elect 300 lawmaker
Social AffairsApril 12, 2016
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[Market Now] Dongbu Securities acquires Hyundai Card bonds
Hyundai Card said Tuesday that Dongbu Securities acquired all of its bonds worth 40 billion won ($34.9 million).The credit card joint venture of Hyundai Motor, Korea’s largest automaker, and GE Capital will use the proceeds to finance its operations, according to a regulatory filing. Dongbu Securities (Yonhap)Hyundai and Kia Motors have a combined 48 percent stake in Hyundai Card, while IGE USA Investments, an affiliate of GE Capital, has a 43 percent stake.With an annual interest rate of 2 perc
April 12, 2016
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Korea, U.S. to hold first nuclear energy committee meeting Thursday
South Korea and the U.S. will hold the first general meeting of their high-level committee, charged with enforcing a bilateral nuclear energy partnership accord, this week in Seoul, the Foreign Ministry said Tuesday.The inaugural session of the High Level Bilateral Commission will be held on Thursday, led by Second Vice Foreign Minister Cho Tae-yul and U.S. Deputy Secretary of Energy Elizabeth Sherwood-Randall. Some 80 officials and experts on atomic energy policy from each side will attend the
Social AffairsApril 12, 2016
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[Market Now] Hyundai Wia raises W130b in bond issues
Hyundai Wia, a listed auto parts-maker of Hyundai Motor, said Tuesday that it has issued bonds worth 130 billion won ($114 million) in total to refinance its debt and pay for materials supplied from its partners.Korea Investment & Securities, KTB Investment, HMC Investment, Shinhan Investment and Hana Financial Investment acquired Hyundai Wia’s AA-graded bonds worth 100 billion won with a maturity period of April, 2021. Hyundai Wia said in its regulatory filing that it will use the proceeds of 1
April 12, 2016
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[Market Now] NH Investment issues bonds to finance operations
NH Investment & Securities has issued bonds worth 350 billion won ($306 million) to finance its operations, according to a regulatory filing.Hana Financial Investment, Shinyoung Securities and HI Investment & Securities were among institutional investors that acquired NH bonds graded AA-plus. The maturity period of the bonds is in April 2019, with annual interest rate of 1.84 percent.NongHyup Financial Group has a 49 percent stake in NH Investment, which is the country’s second biggest brokerage
April 12, 2016
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South Korea‘s export prices slip in March
South Korea’s export prices slipped from a month earlier in March due to a strengthening local currency against the U.S. dollar, central bank data showed Tuesday.The export price index stood at 80.72 last month, down 1.5 percent from a revised 81.96 in the previous month, according to preliminary data from the Bank of Korea.From a year earlier, the March reading marked a 4.5 percent decline. It was also a turnaround from an on-month gain in February. The central bank attributed the decline to a
April 12, 2016
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Seoul shares open higher despite losses in New York
South Korean share prices opened higher Tuesday despite some overnight losses in New York.The benchmark KOSPI rose 5.71 points, or 0.29 percent, to 1,976.08 in the first 15 minutes of trading. Traders monitor South Korea share prices at a local bank. (Yonhap)Market blue chips such as Samsung Electronics, Hyundai Motor and POSCO were trading higher in the early morning session. Overnight on Wall Street, the Dow Jones industrial average fell 20.55 points, or 0.12 percent, to 17,556.41 after U.S. c
April 12, 2016
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Major Korean firms suffer drop in sales and market cap
Major South Korean firms are facing a sales drop and the subsequent growth slowdown, while their foreign rivals are continuously expanding their presence, a report showed Tuesday.According to the Korea Economic Research Institute, 14 South Korean firms that were included in the world's top 1,000 companies in terms of market capitalization as of end-March saw their sales grow 1.12 percent in 2015, sharply decelerating from a 6.18 percent gain in 2014, an 8.48 percent rise in 2013 and a 5.75 perce
April 12, 2016
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Korea's homegrown hand-drip coffee brand to enter China
TERAROSA Coffee, a South Korean homegrown brand known for its hand-drip coffees, is gearing up to advance into China this year, as demand for premium coffee products will continue to rise in the world's most populous country, its founder and chief executive said Tuesday.Kim Yong-duek, president of Haksan Co., which runs the TERAROSA Coffee chain, said that the year 2016 will mark the beginning of his company's overseas expansion and China, the Middle East and Europe are among the first markets t
FoodApril 12, 2016
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Korean food widening appeal among Chinese people
A small cooking room in central Beijing is filled with the clatter of dishes and chatter of 15 young Chinese people wearing green aprons and plastic transparent gloves, the smell of spicy red pepper and garlic in the air.In front of the chamber, a female captain dressed in hanbok, or Korean traditional attire, rolled up her sleeve to give directions on how to make kimchi, a Korean side dish made with fermented cabbage and a variety of seasonings."When you go to the market and look for the right
FoodApril 12, 2016
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N. Korean FM to visit New York next week for signing of U.N. climate deal
North Korean Foreign Minister Ri Su-yong plans to visit New York next week to attend the signing of a landmark U.N. climate agreement, a U.N. official said Monday.The U.N. plans to hold a high-level signing ceremony on April 22 for the so-called Paris Agreement adopted in December to replace the Kyoto Protocol on climate change, and the North's Ri is scheduled to attend the ceremony, an official of the U.N. spokesman's office said.Ri attended the Paris conference and delivered a speech there.His
North KoreaApril 12, 2016
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Missile engine test shows N.K. ICBMs can deliver nuclear warhead to U.S. east coast: 38 North
North Korea's ICBM engine test last week showed that the communist nation could make its road-mobile long-range missiles deliver nuclear warheads as far as the U.S. east coast, including Washington and New York, a U.S. expert warned Monday.The North claimed Saturday that it successfully conducted a ground "jet test of a new type high-power engine" of an intercontinental ballistic missile, with leader Kim Jong-un saying that the test "provided a firm guarantee for mounting another form of nuclear
North KoreaApril 12, 2016
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Kerry warns N. Korea of harsher measures in event of additional provocation
U.S. Secretary of State John Kerry urged North Korea on Monday to forgo any provocative actions, warning the U.S. is ready to impose even harsher sanctions on the communist nation than the latest U.N. resolution.Kerry issued the warning at a news conference during a landmark visit to Hiroshima, Japan, amid concerns that Pyongyang could conduct another nuclear test, its fifth, ahead of the birthday of founding leader Kim Il-sung on Friday.He said sentiment was uniform at a meeting of the foreign
North KoreaApril 12, 2016
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[Newsmaker] Hyundai close to 100m sales landmark
April will be a landmark month for the global success of Hyundai Motor Group as its cumulative global sales is poised to surpass 100 million units. The Korean automotive giant said Monday that the combined global sales of its two automakers -- Hyundai Motor and Kia Motors -- reached 99.7 million units in March, and is expected to cross the 100-million mark this month. “Few automakers in the world have achieved such a sales record in the global market,’’ said Kim Pil-soo, an automotive engineerin
MobilityApril 11, 2016
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Senior N. K. intelligence officer, diplomats defect
A ranking official at North Korea’s military spy agency and two diplomats working outside the country have defected to the South, the government confirmed Monday, days after the joint arrival here of 13 workers from a North Korean restaurant in China. The colonel-level intelligence officer came to Seoul last year and gave a “detailed testimony” on the Reconnaissance General Bureau’s espionage operations against the South, Yonhap News Agency reported, citing an unnamed source with knowledge on th
North KoreaApril 11, 2016
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[Graphic News] VR headset market will be led by Oculus, HTC, and Sony
The “big three” of the world’s virtual reality sector -- Oculus, HTC, and Sony -- will go head-to-head this year, according to market research firm Strategic Analytics.Worldwide sales of virtual reality headsets are expected to stand at $895 billion this year, of which the three VR firms will account for 77 percent. The report did not give details on the market share of each firm. The research firm, however, anticipated that the three brands will only make up 13 percent of the global shipment vo
TechnologyApril 11, 2016
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Religion-affiliated parties want to ‘protect’ country from Islam, homosexuality
Granted everyone has their political freedom in a democratic country, but extremist views of any kind never fail to appall. Extreme views, mixed with a large helping of ignorance, flogged in the name of “religion” and “politics” may be the worst combination for bigotry. (Christianity Party)Korea’s Christianity Party recently pushed forth inflammatory policies to ostracize homosexual and Muslim population in Korea, disgruntling those in favor of diversity and freedom of expression. In the part
Social AffairsApril 11, 2016
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[Photo News] CJ chairman meets with Heilongjiang secretary
CJ MEETS WITH HEILONGJIANG -- CJ Group chairman Sohn Kyung-shik (left) and Wang Xiankui, secretary of China’s Heilongjiang province, meet at the CJ E&M headquarters in northwestern Seoul on Monday to discuss ways to expand their collaborative partnership in the realms of business and culture. CJ currently operates an animal feed factory boasting annual output of 70,000 tons and three CGV movie theaters in Heilongjiang province. (CJ Group)
IndustryApril 11, 2016
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LG Electronics sees nearly 70% surge in profit in Q1
Tech giant LG Electronics’ operating profit surged nearly 70 percent in the January-March period, according to its earnings guidance released Monday. The company said it posted 505 billion won ($441 million) in operating profit and 13. 4 trillion won in revenue, up 65.5 percent and down 4.5 percent, respectively, compared to the same period last year. LG Electronics CEO Jo Seong-jin attends a press conference in Seoul in March. (Yonhap)The operating profit beat previous market estimates in a ran
TechnologyApril 11, 2016