Most Popular
-
1
Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
-
2
Thousands rally in Seoul to call for Yoon's resignation
-
3
Most teen sex offenders get away with slap on wrist
-
4
FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
-
5
Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
-
6
Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
-
7
Suicide attempts spike among youth in Korea
-
8
[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
-
9
Panmunjom tours for select Korean nationals may resume in October
-
10
Young Poong says no better offer for Korea Zinc
-
POSCO to build processing center in Indiana
The nation’s top steelmaker POSCO plans to build a new wire-rod processing center in the United States to increase supplies to local carmakers, according to company officials Monday. The company said it would invest around $19 million to build a 34,000-square-meter plant in Jeffersonville, Indiana, with an annual production capacity of 25,000 tons of wire-rod -- a steel product used for premium vehicles.“We aim to supply more parts for premium cars of the U.S. automakers through the new center,”
IndustryApril 4, 2016
-
[KOSPI Watch] After brief rebound, underperformance to continue in banking
The Korea Herald is publishing a series of articles looking at the performance of various sectors on Korea’s main bourse, the KOSPI. The following is the sixth installment. -- Ed.Local commercial banks outperformed the benchmark Korea Composite Stock Price Index last week, thanks to a recent regulatory decision that is positive for their bottom line. But that may have been only a brief rebound, analysts said, as uncertainties stemming from low interest rates, volatile foreign exchange rate and s
April 4, 2016
-
Hyundai Securities may sell stake in soon-to-launch internet bank
Hyundai Securities may have to dispose of its stake in one of Korea’s first two Internet-only banks, if and when KB Financial Group acquires it as planned, a group official said Monday. KB Financial has been chosen as the preferred bidder for a controlling 22.56 percent stake in Hyundai Securities and is now conducting due diligence on the firm.Hyundai Securities holds a 10 percent stake in K-Bank, one of the two Internet banks that Korea’s financial authorities approved last year. KB Financial
April 4, 2016
-
LSIS seeks entry to U.S. energy storage market
LSIS, a leading Korean electrical components manufacturer, said Monday it is seeking to enter the U.S. energy storage system market, having secured the world’s first certification for its one-megawatt ESS from UL, a U.S.-based global certification company. “The UL-certified ESS will enable our company to compete with other global rivals in the fast-growing market in the U.S.,’’ said Kim Won-il, head of the power grid business division at LSIS. World’s first UL-certified one-megawatt energy stora
IndustryApril 4, 2016
-
[Market Now] WeMade downgraded on lackluster games
WeMade Entertainment, a KOSDAQ-listed game developer and publisher, once made a name for itself with hit titles such as “Wind Runner” and “Legend of Mir” in both PC and mobile gaming.The company even garnered attention from the market for its investment in Kakao, Korea’s most used mobile messenger, for a strategic partnership in mobile games. WeMade has a 4 percent stake in Kakao, and holds equities in notable game companies including 4:33 and Joymax. However, currently with hardly any blockbust
April 4, 2016
-
Guatemala opens honorary consulate in Busan
Guatemalan Ambassador Gustavo Lopez (second from left) and Honorary Consul of Guatemala Lim Soo-bok (second from right) pose beside their spouses at a ceremony marking the inauguration of the honorary consulate in Busan on March 23. (Guatemalan Embassy)The Guatemalan Embassy opened an honorary consulate in Busan in March. The inaugural ceremony on March 23 was attended by Guatemalan Ambassador Gustavo Lopez, Honorary Consul Lim Soo-bok, diplomats, related representatives and Guatemalans in Korea
Foreign AffairsApril 4, 2016
-
'Kinky Boots,' 'Hangmen,' 'Gypsy' win at UK's Olivier Awards
LONDON (AP) -- The high-stepping Broadway hit "Kinky Boots" was named best new musical at London's Olivier theater awards on Sunday, while Martin McDonagh’s killer comedy "Hangmen" won the prize for best new play. The ceremony at London's Royal Opera House opened with Imelda Staunton belting out the "Gypsy" number "Everything’s Coming Up Roses" -- and the words proved prophetic. Staunton was named best actress in a musical for playing showbiz matriarch Mama Rose, while "Gypsy" took four trophies
PerformanceApril 4, 2016
-
FDI pledges jump 19.3% on-year in Q1
New foreign direct investment (FDI) pledged to Korea jumped 19.3 percent in the first three months of the year due to a sharp rise in investment from the European Union and China, the government said Monday.Fresh FDI committed to the country in the January-March period came to $4.24 billion, up from $3.55 billion a year earlier, according to the Ministry of Trade, Industry and Energy.The amount of new FDI arriving here, however, tumbled 43.1 percent on-year to $1.83 billion over the cited period
April 4, 2016
-
Stricter rules slow growth in mortgage loans in Q1
The pace of growth in Korea's mortgage loans slowed down sharply in the first quarter compared to a year earlier due to stricter lending rules and falls in real estate transactions, bank data showed Monday.Under the government's new guidelines announced early this year, borrowers in the Seoul metropolitan area are required by begin to pay down the monthly installments of principal and interest at the same time, soon after the execution of loans. Apartment complex in Seoul (Yonhap)The accumulated
April 4, 2016
-
Cheap convenience store coffees enjoy growing popularity
Low-cost coffees at Korean convenience stores are increasingly popular among price-conscious consumers, posing a threat to coffee shop franchises, industry data showed Monday.Local convenience stores have served canned coffee and instant coffee with hot water for years, but they are expanding sales of higher-quality drinks through self-serve coffee bars to get a bigger chunk of the rapidly growing market.The nation's top three convenience store chains, which each have over 7,000 outlets nationwi
IndustryApril 4, 2016
-
Controversial Hong Kong movie wins ‘Best Film’ award
HONG KONG (AFP) - A controversial movie about the future of Hong Kong won the top prize at the city's film awards Sunday, after being a local box office hit but antagonizing Beijing over its portrayal of the semi-autonomous territory in 2025. “Ten Years” scooped the “Best Film” prize at the Hong Kong Film Awards, following a short cinema release that was widely believed to have been curtailed for political reasons. The film is made up of a series of five vignettes that tap residents’ worst fears
FilmApril 4, 2016
-
Online sales jump 22.7% in February
Online shopping sales in Korea jumped 22.7 percent in February from a year earlier on rising demand for tour packages and cosmetics, a government report showed Monday.Total online transactions reached 4.69 trillion won ($4.1 billion) in the second month of 2016, compared with 3.82 trillion won a year earlier, according to the report compiled by Statistics Korea.The February tally, however, retreated 10 percent from January's 5.21 trillion won, marking the second consecutive on-month decline sinc
IndustryApril 4, 2016
-
Business conditions of bars plunge to a 15-yr low in March
The business conditions of local drinking establishments fell to the lowest level in more than 15 years last month, reflecting a protracted slump in the Korean economy, government data showed Monday.According to the data compiled by Statistics Korea, the service industry output index of bars, pubs and other shops selling alcoholic beverages stood at a record 73 in March, marking the lowest since July 2000 when the statistical agency started to compile such data. Bars and pubs in Seoul (Yonhap)Th
IndustryApril 4, 2016
-
Western tale by a teenage Thurber published
NEW YORK (AP) -- Before becoming one of the great wits of the 20th century, James Thurber was a teenager hooked on Westerns. The Columbus, Ohio, native would remember fondly such “nickel novels” as “Jed, the Trapper” and “The Liberty Boys of '76,” and was so caught up in the gun duel of Owen Wister’s “The Virginian,” he became physically ill. Inevitably, Thurber sketched out a couple of tales himself, including “How Law and Order Came to Aramie,” completed when he was around 18 and unpublished f
BooksApril 4, 2016
-
Mirae Asset chief to spearhead consolidation with newly bought brokerage
The chief of Mirae Asset Financial Group, one of Korea's leading asset management companies, will assume the chairman position of KDB Daewoo Securities to assure its smooth consolidation with its own brokerage business, group officials said Monday.Mirae Asset Securities earlier signed a deal with the state-run Korea Development Bank to take a 43 percent stake in the country's second-largest brokerage along with KDB Daewoo Management in a package deal for a combined 2.45 trillion won ($2.14 billi
BusinessApril 4, 2016
-
Priceless tomes in Italy hold key to European identity
ROME (AFP) - As Europe struggles with an identity crisis, a new exhibition in Rome looks at the birth of European culture through ancient manuscripts and the earliest printed books, including a first edition of Dante's Divine Comedy. While mass migrant arrivals have fuelled xenophobia and threatened to undermine the EU’s core values, the exhibition extols the melting pot of cultures which shaped Europe -- beginning with the 13th century Italian poet, himself a political exile and migrant. “The e
BooksApril 4, 2016
-
Turkey to host world humanitarian summit
The following was contributed by Turkish Foreign Minister Mevlut Cavusoglu ahead of the United Nations World Humanitarian Summit on May 23 and 24. – Ed.Despite worldwide shock and indignation, it looks as if little Syrian boy Aylan Kurdi’s tragic death last summer has changed little. We are saddened by our collective negation.The power of image and social media, so effective in entertainment, has betrayed those less fortunate. Since Aylan’s death six months ago, countless more innocent men, wome
Foreign AffairsApril 4, 2016
-
Soy milk plant to nourish Afghan lives
Nutrition and Education International, a nongovernmental organization, hosted a ceremony marking the shipment of equipment for a sterilized soy milk plant in Afghanistan. Twenty-five containers were shipped from Busan to Karachi in southern Pakistan, to be transported to Afghanistan, where the plant is scheduled to be constructed and operational by September. The venue at Daesung Food Tech Corporation headquarters in Suwon, Gyeonggi Province, on March 25 was attended by representatives from Worl
Foreign AffairsApril 4, 2016
-
[Photo News] Samsung Activewash gains traction
SAMSUNG ACTIVEWASH GAINS TRACTION -- Samsung Electronics said Monday that sales of its Activewash top-load washing machine, featuring a plastic built-in sink on top for hand-washing fragile items, has surpassed the 2-million mark since its launch in February 2015. The company said the washer was sold every 20 seconds -- the fastest sales pace among Samsung washing machines -- in 33 countries, including Korea and the U.S. (Samsung Electronics)
TechnologyApril 4, 2016
-
Mexico, Korea strengthen strategic partnership
The following was contributed by Jose Luis Bernal, the Mexican ambassador to Korea. -- Ed.The people and government of Mexico warmly welcome President Park Geun-hye’s state visit to our country from Saturday to Tuesday. We are convinced that Park’s encounter with her counterpart President Enrique Pena Nieto, along with the bilateral business forum in Mexico City, will open new ways of friendship and collaboration. Her visit will enhance our strategic partnership forged over the last 10 years.The
Foreign AffairsApril 4, 2016