Most Popular
-
1
Thousands rally in Seoul to call for Yoon's resignation
-
2
Suicide attempts spike among youth in Korea
-
3
Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
-
4
FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
-
5
[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
-
6
Delta Air Lines to launch new Incheon-Salt Lake City route in June next year
-
7
S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
-
8
4 in 10 illegal aliens entered S. Korea without visas last year: data
-
9
Korea, China, Japan vow to address yellow dust and climate change
-
10
Korean American documentary ‘Free Chol Soo Lee' wins Emmy
-
NHN eyes Facebook patent war
Korean online game developers have often fallen prey to patent trolling.U.S. 3-D content firm Worlds.com filed a lawsuit against Korean game developer NCSoft in 2008, claiming the latter violated the U.S. firm’s patents for communication technology in the virtual space, while U.K game company King Digital Entertainment sued Avocado Entertainment of Korea in 2014 for infringing their game intellectual property rights.NHN Entertainment’s head office in Pangyo, Gyeonggi Province (Yonhap)In order to
TechnologyMarch 29, 2016
-
China's Anbang trumps Marriott with $15b bid for Starwood
The fight for Starwood Hotels swung back in favor of China’s Anbang after the insurance company offered $15 billion in a counterpunch to Marriott International. Starwood Hotels & Resorts Worldwide, which has a tony stable of hotels including the St. Regis New York, said Monday that the offer from the Anbang group is "reasonably likely" to trump a sweetened bid that Marriott submitted last week.Some industry analysts now believe Marriott will wind up on the losing end of this battle, unless other
World BusinessMarch 29, 2016
-
Kia Motors aims to sell 40,000 hybrid SUV Niro this year
Kia Motors launched its first hybrid compact sport utility vehicle Niro on Tuesday, targeting sales of 40,000 units worldwide this year. “We have set a goal of selling 18,000 units of Niro domestically and 20,000 cars globally, targeting young singles and couples in their 20s and 30s,” said Kim Chang-sik, executive vice president of domestic sales, at the launch of Niro in Seoul. Kia Motors president Park Han-woo (right) and executive vice president Kim Chang-sik pose at the launch of compact S
MobilityMarch 29, 2016
-
NH-CA Asset Management to enhance overseas fund sales
NH-CA Asset Management, a joint venture between NH Financial Group of Korea and Amundi of France, will strengthen its sales and marketing of overseas funds this year, with more weightage given to overseas stocks and alternative investments, its chief executive said Tuesday.CEO Han Dong-joo said the company hopes to raise its assets under management to 36 trillion won ($30.9 billion) this year from 29 trillion won in 2015, and hopefully to 60 trillion won by 2020.NH-CA Asset Management CEO Han Do
March 29, 2016
-
LG honors neighbor for saving child’s life
LG Group said Tuesday it has decided to honor Lee Jae-deok, a 34-year-old man who recently rescued an 8-year-old child from a burning apartment last week.On Friday, a fire broke out at an apartment complex in Gwangju. While other residents evacuated safely, the boy at home alone was trapped in the flames. LG Group chairman Koo Bon-mooLee saw the boy and climbed onto the balcony to rescue him with other two neighbors helping him out.In order to honor such heroic behavior, LG said it will offer hi
TechnologyMarch 29, 2016
-
'Subway masseur’ to be retried as sex offender
Korea’s Supreme Court ruled Monday that a man who “massaged” an inebriated woman in a late night train fits the profile of a sex offender and he must be retried accordingly. The man, previously acquitted on grounds that he lacked intent, will be tried again at the Seoul Central Court, according to Justice Park Bo-young of the Supreme Court. (123RF)Justice Park’s announcement said the “act of semi-coercive molestation does not require deliberate objective for sexual gratification” and that “layin
Social AffairsMarch 29, 2016
-
Divorce-seeking wife tortured by husband
A woman pursuing divorce was locked up for over 24 hours and tortured by her husband, Seoul’s Seocho Police Station said Monday. (123RF)The husband, whose identity was withheld by the police, met with his estranged wife at his bar in Seocho-gu to discuss custody rights. When she turned up, he locked her in an underground storage house where he is suspected of torturing her with a hot iron. He then took the victim to a hospital for emergency treatment and kept watch to prevent her from contactin
Social AffairsMarch 29, 2016
-
7 public funds to come under simultaneous long-term survey in 2018
South Korea will conduct an integrated survey of its seven public funds' long-term fiscal estimation in 2018 in a bid to map out proper fund management plans based on an accurate assessment, the Ministry of Strategy and Finance said Tuesday.The survey by the National Pension Service and six others -- the Government Employees Pension Service, the Korea Teachers Pension, the Military Pension Service, the National Health Insurance Service, Workers' Compensation Insurance and Employment Insurance -
March 29, 2016
-
Korea to cut discretionary spending by 10% in 2017
South Korea has decided to cut the discretionary spending of government agencies by 10 percent next year in a bid to focus its fiscal policy on job creation, the finance ministry said Tuesday.The 2017 budget guidelines, which passed the Cabinet on Tuesday, call for a thorough examination of spending earmarked for public works projects and welfare outlays.Out of the nearly 380 trillion won (US$326.2 billion) of the state budget last year, some 53 percent, or 200 trillion won, is discretionary spe
March 29, 2016
-
[Photo News] Samsung TV in style
SAMSUNG TV IN STYLE -- Samsung Electronics on Tuesday launched a stylish I-shaped TV, called Serif TV that was designed by renowned French designer brothers Ronan and Erwan Bouroullec. The Korean launch comes after the TV debuted in Europe last year. (Samsung Electronics)
TechnologyMarch 29, 2016
-
TonyMoly appoints chairman‘s daughter to board
Cosmetics brand TonyMoly appointed Bae Jin-hyung, the chairman’s daughter, to its board of directors at a shareholders meeting Monday.The decision of the chairman, who holds 30.93 percent stake, to appoint his 26-year-old daughter to the board was seen by some as being reckless and premature. A graduate of New York University, the junior Bae has been with TonyMoly for just six months, joining the company last September. She is currently working at the company’s overseas sales department.Industry
IndustryMarch 29, 2016
-
Lotte founder’s daughter appears to be taking sides with Dong-bin
Shin Young-ja, the eldest daughter of Lotte founder Shin Kyuk-ho, appears to be taking sides with her younger brother Lotte Group chairman Shin Dong-bin in a family feud over the 90-trillion-won ($77.3 billion) business empire, according to group insiders.The founder’s daughter who currently serves as the chairwoman of Lotte Samdong Welfare Foundation, attended a music concert last week with the Lotte chairman. Lotte Group chairman Shin Dong-bin (Yonhap)She was the only family member to sit clo
IndustryMarch 29, 2016
-
Pyongyang clamping down on people making phone calls with South Koreans
North Korea has been intensifying a "sting operation" to arrest people making contact with South Koreans using mobile phones, especially in border areas near China, sources said Tuesday.Sources familiar with North Korean affairs said that nearly 10 people have been arrested by security forces since the start of the ongoing 70-day campaign to encourage its people to work harder as the ruling Workers' Party gets ready to host its first congress since 1980.The event is expected to allow North Korea
North KoreaMarch 29, 2016
-
Korea‘s overseas voting for parliamentary elections to begin
South Koreans living outside of the country will begin casting their ballots for the April 13 parliamentary elections later this week, the state election office said Tuesday.The overseas vote for the general elections will kick off on Wednesday for a six-day run at 198 polling stations in 113 different countries worldwide, the National Election Commission said.The first polling station will be opened at a South Korean mission in Auckland, New Zealand, according to the commission.A total of 154,2
PoliticsMarch 29, 2016
-
Wait time for foreigners' alien registration, extension of stay slashed
The wait time for foreigners filing for alien registration or extension of stay has been sharply decreased with the extended implementation of the online reservation system, the government said Tuesday.The Ministry of Justice said since it adopted the full-scale online reservation system at six immigration offices in the Seoul metropolitan area in February, 45,635 cases have been processed via the Internet as of last week, accounting for 44.4 percent of the total. The online system allows foreig
Social AffairsMarch 29, 2016
-
Government seeks retail giants' help in exports
Korea's trade minister requested the country's major distribution chains Tuesday to support the government's desperate efforts to boost exports."Local distribution firms doing business abroad can play a role as the spearhead of exporting our consumer goods," Joo Hyung-hwan, minister of trade, industry and energy, said in a roundtable meeting with representatives from the industry. Trade minister Joo Hyung-hwan (Yonhap)A dozen CEOs of online and offline retail giants operating both here and in fo
March 29, 2016
-
Samsung kicks off mobile payments in China
Samsung Electronics said Tuesday it has launched its mobile payment service Samsung Pay in China, speeding up efforts to expand the scope of its flagship mobile payment platform.The Korean tech giant said Chinese users of high-end Galaxy smartphones can now use Samsung Pay in cooperation with China-based bank card giant UnionPay. A model demonstrates Samsung Pay (Yonhap)The mobile platform supports magnetic secure transmission technology that works on traditional credit card machines. Like rival
IndustryMarch 29, 2016
-
More flyers in February as LCCs continue to expand
Over 8 million people flew on passenger planes in February 2016, marking a strong increase from last year, according to the Ministry of Land, Infrastructure and Transport on Tuesday.In February, about 2.28 million people took domestic flights in Korea while 5.85 million people took international flights. The numbers showed an approximate 15 percent increase in passengers both domestic and international, relative to February 2015.The Transport Ministry said that the 15.3 percent increase in inter
IndustryMarch 29, 2016
-
[Market Now] Hanjin Shipping sells London office building to repay debt
Facing a liquidity shortage and high debt ratio, Hanjin Shipping, a listed subsidiary of Korean Air, has sold its London office building to an undisclosed real estate investment company, according to a regulatory filing.Hanjin Shipping Seoul office (Hanjin Shipping)The shipping company said that it would use the proceeds from the sale worth about 66.7 billion won ($57.4 million) to improve finances. Industry sources say this means that Hanjin Shipping would use the cash it secured from the sale
March 29, 2016
-
Air Force checks anti-terror readiness of military-private airports
The South Korean Air Force said Tuesday it has inspected the anti-terror preparedness of six civilian airports that share runways with the military.In the eight-day emergency inspection that ended on Tuesday, the Air Force examined the readiness posture of the airports in Gwangju, Gimhae, Daegu, Cheongju, Sacheon and Wonju.The security inspection came amid a heightened terrorist attack alert in the wake of North Korea's recent threats to launch strikes on South Korea and specifically Cheong Wa D
DefenseMarch 29, 2016