Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Korea, China, Japan vow to address yellow dust and climate change
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Immigration policy must go beyond labor supply: experts
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Victoria Beckham launches dress line for Asians in Korea
Fashion designer Victoria Beckham, better known as a former Spice Girls member and wife of retired footballer David Beckham, has unveiled a new clothing line initially in Korea exclusively designed for Asian customers, which she said has growth potential for luxury brands, in a press meeting held in Seoul, Monday.The Victoria Victoria Beckham line, composed of eight dresses, will go on sale in South Korea at the Munich-based mytheresa.com online shop from Monday afternoon and then be available f
World NewsMarch 21, 2016
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[Tobin Harshaw] Putin's Syria gamble has already paid off
Vladimir Putin says he is withdrawing most Russian forces from Syria because his “objectives” have been achieved. How to judge that boast? On such goals as keeping the dictator Bashar Assad in power, increasing Russian influence in the Middle East, restoring Moscow’s seat at the table of global power, and sending a message of strength to Islamic extremists inside Russia‘s own borders, the jury is still out. But it’s not too early to consider Russian success on another front: showcasing military
ViewpointsMarch 21, 2016
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[David Ignatius] The mistaken attack on free trade
Of the many dangerous trends in the 2016 election, the revolt against free trade that has captured both parties could do the most long-term damage. That’s because protectionism would undermine future growth of the U.S. economy and subvert America’s role as global leader. Globalization has undeniably hurt some American workers and cost some manufacturing jobs. But there’s strong evidence that trade has benefited the U.S. economy and created whole new industries in which America is dominant. That’
ViewpointsMarch 21, 2016
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Novelist Han Kang remains calm at sudden rise
South Korean novelist Han Kang was not too buoyant despite her nomination for the 2016 Man Booker International Prize and all the public attention the news has created in her home country.She rose to fame in South Korea after the prize's organizer announced on its website earlier this month that Han's "The Vegetarian," translated by Deborah Smith, was among the 13 books contending for the 2016 prize. She has become the first Korean nominee for the prize. "I'm really calm. I'm going to keep writi
Social AffairsMarch 21, 2016
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Gyeongbok Palace pavilion to open to public from April to October
A pavilion in Gyeongbok Palace in the heart of Seoul will open to the public from April 1 to Oct. 31, the Cultural Heritage Administration said Monday.Gyeonghoeru, or the "pavilion of joyous meeting," which has normally been off-limits, is considered the largest pavilion structure built during the Joseon Dynasty (1392-1910).Visitors will be allowed access to the pavilion, designated National Treasure No. 224, three times per weekday and four times per day on weekends. A maximum of 80 people will
Social AffairsMarch 21, 2016
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Saenuri ex-whip's fate hangs in balance
The fate of a former floor leader of the ruling Saenuri Party hung in the balance Monday as the party’s nomination committee ratcheted up pressure against him to voluntarily give up his bid to run in next month’s general election. With the Saenuri Party’s Supreme Council and nomination committee failing to reach a consensus over whether to select Rep. Yoo Seong-min as a parliamentary candidate, the committee’s key members noted that the only way to solve this gridlock would be if the third-term
PoliticsMarch 21, 2016
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Air Force conducts drills for strike against North Korea
The South Korean military on Monday carried out training designed to strike key facilities of North Korea as Pyongyang continued to stage provocations in a show of force against the allies for second consecutive day.North Korea fired five short-range projectiles into the East Sea at around 3:19 p.m. from a spot 20 kilometers south of Hamheung, South Hamgeyong Province, according to the Joint Chiefs of Staff. The projectiles flew for about 200 kilometers. It was unconfirmed whether the objects we
DefenseMarch 21, 2016
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Korea, Japan to follow up on 'comfort women' agreement
Senior officials of Korea and Japan are scheduled to hold their first bilateral meeting Tuesday to discuss follow-up steps since December’s agreement on resolving the “comfort women” issue, Seoul’s Foreign Ministry said Monday. Chung Byung-won, the new director general for Northeast Asian affairs at the Foreign Ministry here, will travel to Tokyo for talks with Kimihiro Ishikane, director general for Asian and Oceanian affairs at Japan’s Foreign Ministry.Protesters stage a sit-in demonstration
Foreign AffairsMarch 21, 2016
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Korean stocks end lower on institutional sell-offs
Korean shares edged down on Monday as institutional investors sought to lock in their gains, more than offsetting a net purchase by foreigners and retail investors. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.36 points, or 0.12 percent, to close at 1,989.76. Trading volume was slim at 320.6 million shares, with losers outnumbering winners 459 to 346. KOSPI (Bloomberg)Local shares opened a tad higher following a three-day r
March 21, 2016
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Hyundai Securities sale heats up; Kim‘s Club bid to close amid dwindling interest
Two of this year’s most anticipated corporate sales are to enter the final round of bidding in the coming days, but from the way things look now, they may be in for quite different outcomes. The race to take over Hyundai Securities is heating up, with the joining of another strong contender. Meanwhile, Kim’s Club, being put up for sale by E-Land Group, appears to have failed in drumming up interest from potential buyers, industry sources and local reports said. Hyundai Securities (Yonhap)KB Fina
March 21, 2016
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Celltrion to join ranks of Korea’s big businesses
South Korean biosimilar developer Celltrion is slated to become the first ever homegrown biopharmaceutical company to be classified as a “big business.”Last year, the value of the total assets held by Songdo-based Celltrion and its 11 affiliates surpassed 5 trillion won ($4.31 billion), which is the threshold used by the Fair Trade Commission to identify a given company as a “large corporation.” Celltrion’s headquarters in Songdo, Incheon (Yonhap)Celltrion’s status is slated to change before Apr
IndustryMarch 21, 2016
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Hyundai E&C bolsters CSR activities in Vietnam
Hyundai Engineering & Construction, the construction arm of Hyundai Motor Group, is strengthening its corporate social responsibility activities as part of efforts to cement its status as a global builder in Vietnam. “After a half-century since the entry to Vietnam back in 1966, the company is evolving into a global infrastructure builder there,” the nation’s top builder said in a press release on Monday. A group of students from the Hanoi Industrial Vocational College take part in the construct
CompaniesMarch 21, 2016
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Korea’s blue chip companies line up to issue bonds
South Korean conglomerates with high credit ratings are expected to tap investors’ demand for corporate bonds next month amid the declining yield in benchmark three-year government bond, industry sources said.Financial industry sources said S-Oil and Samsung C&T, both with credit ratings of “AA+,” will raise 300 billion won ($257 million) in bond sales. Lotte Shopping, with an “AA+” credit rating, is also to raise 250 billion won in debt. GS Caltex, with “AA0,” and CJ Korea Express, with “AA-,”
March 21, 2016
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Hyundai Motor dismisses rumor on HMM takeover
Hyundai Motor Group denied rumors that it could seek a takeover bid to save faltering shipper Hyundai Merchant Marine via its logistics arm Hyundai Glovis. HMM, which faces a liquidity crisis, is a key affiliate of Hyundai Group and so has been categorized as a member of the pan-Hyundai empire. “It is true that the group was invited to a takeover bid for the shipper, but the group has no interest in the deal due to little synergy effect,” a high-ranking official of the automotive group said Mond
IndustryMarch 21, 2016
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GM Korea releases new SUV Captiva
GM Korea, the local unit of U.S. automaker General Motors, launched the new 2016 Chevrolet Captiva SUV in Korea on Monday. The new Captiva is the latest version of the carmaker’s crossover SUV, encapsulating Chevrolet’s family look and performance.GM Korea’s Chevrolet Captiva SUV (GM Korea)Company CEO James Kim said, “I believe the new Captiva will significantly help the Chevrolet brand to increase its sales volume in the SUV segment, which is now the most competitive sector in the local auto ma
MobilityMarch 21, 2016
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GOT7 returns with eight-track album 'Flight Log: Departure'
Multinational boy band GOT7 released a new mini album, “Flight Log: Departure,” including one of its title tracks “Fly,” at midnight Sunday. Another title for the eight-track album, “Home Run,” has not been made public yet. The comeback was announced Feb. 26 by Korean music industry giant JYP Entertainment, home to the budding seven-member band. Its members contributed to writing lyrics and composing songs, according to JYP Entertainment.Multinational septet boy band GOT7 (JYP Entertainment)
March 21, 2016
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[Photo News] Posco Daewoo marks new name
POSCO DAEWOO MARKS NEW NAME -- POSCO Daewoo CEO Kim Young-Sang (right) waves the firm’s flag to mark its new name while POSCO chairman Kwon Oh-joon applauds during a ceremony at Incheon Songdo Convensia on Monday. (POSCO Daewoo)
CompaniesMarch 21, 2016
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[KOSPI Watch] Korean shipbuilders in difficulty amid slowdown
It seems like yesterday that Korea’s shipbuilding trio conquered the world, leading in the number of contracts and orders they secured with well-known shipping companies to build container ships and LNG and bulk carriers.If that was not enough, Korean shipbuilders, whose exports of those ships used to account for more than 8 percent of the total exports starting in the 1980s, ventured into supplying materials and equipment to offshore energy plants and platforms that looked highly “lucrative and
March 21, 2016
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Uniqlo leads fast fashion sales in Korea
Japanese fashion brand Uniqlo led sales in the fast fashion industry in Korea last fiscal year, followed by the home-grown brand Daiz of discount retailer E-mart.According to Uniqlo’s disclosure provided by the Financial Supervisory Service, the brand saw sales of 1.12 trillion won ($957 million) in the fiscal year beginning September 2014, breaking the coveted 1-trillion-won mark just 10 years after entering the Korean market in 2005.Following Uniqlo was E-mart’s private brand Daiz, which saw s
IndustryMarch 21, 2016
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Singapore Airlines appoints new Korean general manager
Singapore Airlines has appointed Seah Chee Chian as the new general manager for its Korean branch, the airline announced Monday.After joining Singapore Airlines in 2008 as a technical services engineer, Chian rose through the ranks as a direct sales executive and regional marketing manager for Southeast Asia. His most recent post was manager of Singapore Airlines‘ Southern Indian business, a post he served for two years starting in 2014. Seah Chee Chian (Singapore Airlines)At his previous positi
IndustryMarch 21, 2016