Most Popular
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Opposition mulls delay of financial investment income tax
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Immigration policy must go beyond labor supply: experts
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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KMA chief under pressure after surveyed doctors refuse to back him
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SK Innovation seeks to bolster petrochemicals business in China
SK Innovation, the energy business holding unit of SK Group, is looking to bolster its petrochemicals business in its main export market China by pursuing more strategic partnerships along with mergers and acquisitions. SK Innovation vice chairman and CEO Chung Chul-khil on Thursday visited SK Global Chemical’s main office in Shanghai and ordered the firm to step up its efforts to drive up its performance in the country. “Despite rising concerns about the global economic downturn and slowdown of
IndustryFeb. 4, 2016
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Government pushes for business restructuring
The government will step up efforts to restructure the manufacturing industry and reinvigorate the sagging corporate sector, officials said Thursday.Industry Ministry officials said the government will seek industry-wide reorganization after the National Assembly passes a reform bill aimed at helping firms to sell or purchase businesses. “The ministry will move fast to support companies to fasten their business restructuring with the legislation of relevant law,” Industry Minister Joo Hyung-hwan
Feb. 4, 2016
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Seongnam City Mayor Lee draws attention for ‘grassroot politics’
When U.S. Sen. Bernie Sanders joined the fray to be the Democrats’ next presidential candidate in April 2015, he had just 3 percent in the polls. However, several political analysts predicted he could be a dark horse, and appears to have become a reality. Although Sanders previously had a lot of enthusiastic supporters, his drawback was that he did not have national popularity. However, CNN stated that his stance on solving inequality by reflecting public sentiment in his policies caused his sud
IndustryFeb. 4, 2016
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Parliament passes corporate revitalization bill
The National Assembly on Thursday passed the much-delayed corporate revitalization bill to allow easier restructuring processes for financially pressed companies.Other contentious bills related to the redistribution of electoral districts and labor reforms have been pushed back to an extraordinary session later this month.In a plenary session delayed by half an hour due to last-minute hesitation from the main opposition party, the corresponding bill passed with 174 votes in consent, 24 in dissen
PoliticsFeb. 4, 2016
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LG Electronics becomes street name in Changwon
LG Electronics said Thursday a new street named after its corporate name has been created within an industrial complex in Changwon, the capital city of South Gyeongsang Province. LG Jeonja-ro, meaning “LG Electronics Street” in English, stretches some 500 meters in the neighborhood of its production plant. The Changwon city government said the street was designated to honor the company’s continuing investments and job creations in the city even at a time of economic difficulties. The name has
TechnologyFeb. 4, 2016
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[Editorial] North Korea ups the ante
North Korea has demonstrated its determination to up the ante in its confrontation with the United States and the world community by deciding to push ahead with a long-range missile test later this month. The North has notified international maritime and telecommunications agencies of its plan to launch an “earth observation satellite” between Feb. 8 and 25 pursuant to its space development program. Yet the satellite launch is widely seen as a cover for another long-range missile test, as it in
EditorialFeb. 4, 2016
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[Editorial] Performance culture
As part of its labor reform campaign, the government is set to launch a drive aimed at transforming the wage systems of domestic financial institutions. As a first step, the Financial Services Commission is pushing to introduce performance-based pay to the nine state-invested financial institutions, including Korea Development Bank and the Industrial Bank of Korea. Currently, the nine institutions only apply a performance-linked pay system to their executives. For other employees, they use step
EditorialFeb. 4, 2016
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LG CNS to build bus traffic control systems for Malaysia’s MRT
LG CNS, the information technology solutions unit of LG Group, said Thursday it has won a deal to install bus traffic control systems for Malaysia’s Mass Rapid Transit railway stations. (LG CNS)The $120 million MRT project aims to connect every corner of Kuala Lumpur via high-speed trains. The Line 1, stretching about 51 kilometers with 31 stations, is under construction and slated for completion by 2017. LG CNS has already participated in the project, as it secured a deal in 2012 to build tele
TechnologyFeb. 4, 2016
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Ex-Groupon COO joins Samsung
Kal Raman, former CEO of Xome and chief operating officer of Groupon, has joined Samsung Electronics America as chief digital officer to lead the company’s e-commerce business, the Seoul head office confirmed Thursday. Raman, 47, has served in executive roles at Amazon, eBay, Drugstore.com and Groupon. He is currently based in Seattle.Over the past year, he was CEO of Xome, an online home-buying service affiliated with Nationstar Mortgage.A veteran in technology and retail business, Raman was a
TechnologyFeb. 4, 2016
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Seongnam at forefront of expanding welfare
On Seongnam Mayor Lee Jae-myeong's Facebook page is a cover photo with a campaign slogan reading “South Korea cannot, but Seongnam can."The slogan might sum up a series of challenges Seongnam, the second largest city in Gyeonggi Province, has taken on to improve its citizens’ living standards through welfare programs aimed at helping those on the edge of society. Seongnam, some 20 kilometers away from Seoul, has drawn attention among other cities and provinces nationwide in recent months as the
Social AffairsFeb. 4, 2016
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Seoul shares soar 1.38% on rebounding oil prices
Korean stocks rallied 1.38 percent on Thursday as a sharp upturn in crude oil prices lifted investor sentiment, analysts said. The local currency rose sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 26.04 points to end at 1,916.71. Trade volume was moderate at 358.8 million shares worth 5.13 trillion won (US$4.27 billion), with winners outpacing losers 561 to 249.The U.S. dollar tumbled on Wednesday after comments from a Federal Reserve official and
BusinessFeb. 4, 2016
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More Koreans interacting less with family members
Kim Ji-eun (not her real name), a mother of two young school children and public servant in Seoul, has been living away from her husband for the past 18 months. Her husband, who lives in another province due to work, returns home on weekends. “When we were living together, we would spend at least an hour talking to each other every night. Now, we only talk about twice a week. Most of our phone conversations don’t last 30 minutes.”Kim belongs to an increasing number of South Korean married couple
Social AffairsFeb. 4, 2016
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Seoul will intercept if North Korean missile falls in its territory: ministry
With North Korea gearing up for a fresh long-range missile test, South Korea is stepping up its capabilities to intercept any incoming rocket or its parts within its territory and take “due” retaliatory measures in self-defense, the Defense Ministry said Thursday. President Park Geun-hye once again urged Pyongyang to shelve its professed plans to fire what it claims to be an Earth-monitoring satellite between Feb. 8 and 25, stressing any launch entailing ballistic missile technology would be a “
North KoreaFeb. 4, 2016
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New gender minister vows to eradicate child abuse
Kang Eun-hee, the newly appointed gender minister, said Thursday she will strengthen parental education to eradicate child abuse in the country.Extreme cases of violence against children have shocked the country every year, with the latest one having surfaced just a day earlier. On Wednesday, a pastor and his wife were arrested over suspicions of beating their daughter to death and keeping her body at home for almost a year."At this rate, child abuse cases will probably continue," Kang told Yonh
PoliticsFeb. 4, 2016
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Ex-N.K. military chief says its long-range rocket can hit U.S.
The former chief of the North Korean military's general staff had said in 2012 that the North is capable of hitting the United States with a nuclear weapon atop a long-range missile, a report showed Thursday.Ri Yong-ho, who was purged in July 2012, said earlier that launching a satellite amounts to firing a rocket, effectively acknowledging that the North's rocket launch is a covert test of an intercontinental ballistic missile, according to South Korea's state-run broadcaster KBS."If we put a n
North KoreaFeb. 4, 2016
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Jobless Korean arrested for airport bomb scare
Police said Thursday that they have arrested an unemployed South Korean man for allegedly leaving a box suspected to contain explosive devices at the nation’s main airport. The 36-year-old man told police that he had left the box containing a butane gas canister and a warning message in Arabic in a men’s restroom at Incheon International Airport out of anger towards society. “I was irritated because I could not find a job and I was in need of money,” the man allegedly said, admitting to his crim
Social AffairsFeb. 4, 2016
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Police seek warrant for child-killer couple
Police on Thursday sought an arrest warrant for a couple who beat their 13-year-old daughter to death and kept the body hidden and mummified last year.According to Sosa Police in Bucheon, investigators charged a 47-year-old pastor surnamed Lee and his wife Baek, 40, with manslaughter due to child abuse. If convicted, the suspects face a minimum of five years and up to a lifetime in prison. The couple had admitted to beating the girl, but said her death was unintentional.Suspects in the death of
Social AffairsFeb. 4, 2016
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Hanwha establishes fintech JV with China’s Dianrong
Hanwha Group has officially embarked into the newly emerging fintech, or financial technology, industry in partnership with China’s leading peer-to-peer lending platform Dianrong. Hanwha said that Hanwha S&C, the group’s information technology unit, and Dianrong signed an agreement to establish an equal joint venture in Seoul Thursday. The new joint venture, unnamed as of yet, will launch an open P2P marketplace lending service -- a modern service that matches lenders directly with borrowers on
IndustryFeb. 4, 2016
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[Photo News] Hanwha carries out New Year's charity event
HANWHA’S NEW YEAR CHARITY — Hanwha Corp. CEO Choi Yang-soo (right) and company officials deliver tteokguk, or rice cake soup, to elderly citizens at the Yurak Community Welfare Center in Sindang-dong, Seoul, Thursday. The firm also delivered lunchboxes to senior citizens living alone in the area as part of its charity efforts ahead of the Lunar New Year, known as Seollal in Korean. (Hanwha Group)
IndustryFeb. 4, 2016
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Green Cross posts record high sales in 2015
Green Cross, a South Korean biopharmaceutical company, said Thursday it posted record-high profits of 1.48 trillion won ($1.23 billion) in sales last year, up 7.4 percent over the previous year. At the same time, its operating profit declined on-year by 5.5 percent to 91.7 billion won in 2015, while its net profit rose by 10.3 percent on-year to 95.7 billion won. The firm cited the decline in its operating profit -- the largest in the industry -- to its expanded research and development spending
IndustryFeb. 4, 2016