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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‘Well-dying’ law to take effect from 2018
Terminal patients will be given the right to decide whether or not to continue life-sustaining medical care measures.The Ministry of Health and Welfare on Wednesday promulgated the law on the life prolongation medical care decision for patients in the dying process, dubbed the “well-dying” law. Based on this new act, which is to take effect from February 2018, the minister is to establish a five-year implementation plan.The new measures will apply to terminal patients with no hope of surviving.
Social AffairsFeb. 3, 2016
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Korea mulls allowing Iranian fund to invest in Korean stocks
Iran is considering investing some 3 trillion won ($2.49 billion) in its current won-based bank accounts in the Korean capital market, according to Seoul officials Wednesday. The Korean government is examining possible measures to enable Iran to use the money in the accounts, owned by Iran’s central bank, for capital transactions, such as purchases of Korean stocks, bonds and derivative products, they said.“We are considering other options to use the won-based banks accounts which have been only
Feb. 3, 2016
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KDB chief tapped as AIIB vice president
The head of a South Korean policy lender has been appointed a vice president of the China-led Asian Infrastructure Investment Bank (AIIB), the finance ministry here said Wednesday.Hong Ky-ttack, the president of state-run Korea Development Bank, will serve as the chief risk officer of the AIIB. The new bank has five vice presidents. Hong Ky-ttackHe will start his three-year tenure after the AIIB sets the exact inauguration schedule, according to the ministry.It is the first time in 13 years for
Feb. 3, 2016
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Korea rolls out fresh stimulus
South Korea plans to jack up its fiscal spending by an additional 21 trillion won ($17.4 billion) in the first quarter in an effort to pump-prime the economy struggling with faltering exports, the finance ministry said Wednesday.It will also extend a consumption tax cut program on passenger cars, which was set to finish at the end of December, to June to bolster domestic demand.Asia's fourth-largest economy is grappling with plummeting exports in the face of a crippling downturn in oil prices an
Feb. 3, 2016
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Korea set to foster property market further
The government said Wednesday it will nurture the property market into becoming a high value-added service sector by boosting real estate investment funds in a bid to make it a new economic growth engine.The Ministry of Land, Infrastructure and Transport said it will lower barriers and give tax incentives to boost the real estate investment trusts sector to spearhead the development of the local properties market.REITS are a type of security that invests in real estate to be traded on major exch
BusinessFeb. 3, 2016
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Tokyo stocks down more than 3% by break, extending global slump
TOKYO (AFP) - Tokyo stocks slumped more than three percent Wednesday morning, extending a drop on global markets as a stronger yen hit exporters and falling oil prices reignited worries about the world economy.As the euphoria of Friday's Bank of Japan stimulus faded, oil's fresh collapse below $30 a barrel hammered energy shares and investor confidence."Since the BoJ cut last week, markets have been on edge, concerned that the global situation is considerably worse than initially envisaged and t
World BusinessFeb. 3, 2016
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Oil prices could jump 50% by end of 2016
Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year.Analysts are projecting prices will climb more than $15 by the end of 2016. New York crude will reach $46 a barrel during the fourth quarter, while Brent in London will trade at $48 in the same period, the median of 17 estimates compiled by Bloomberg this year show. A global surplus that fueled oil’s decline to a 12-year low will shift to deficit as U.S. s
World BusinessFeb. 3, 2016
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Professor acquitted of defaming late President Roh
The Seoul Western District Court on Wednesday dismissed a libel suit filed by the son of late President Roh Moo-hyun against a Hongik University law professor on charges of insulting the late president in his class.The professor, identified by his surname Lyou, had included in his U.S. contract law class exam last year a question which included the sentence: “Roh was 17 years old and his IQ was 69. He suffered brain defects caused by his jumping from the Owl Rock at age six.” Roh Gun-ho (Yonhap)
Social AffairsFeb. 3, 2016
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More seek counseling on domestic violence in South Korea
The number of people seeking domestic violence counseling in South Korea soared by 1.7 times since 2012, data showed Wednesday.According to the Women’s Human Rights Commission of Korea, domestic violence accounted for 58 percent or 159,081 out of 274,226 cases of emergency phone counseling last year. The corresponding figure was 42.6 percent or 94,985 cases in 2012. (123rf)A majority of the calls involved physical abuse, with 127,565 cases, or 80.2 percent of the total, and was followed by emot
Social AffairsFeb. 3, 2016
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[Photo News] SPC Group delivers tteokguk to elderly citizens
SPC’s NEW YEAR CHARITY -- Employees at SPC Group, which operates the nation’s largest bakery franchise Paris Baguette, give tteokguk (rice cake with soup) as well as baked goods to the elderly at the Yangjae Senior Welfare Center in Seoul ahead of the Lunar New Year, or Seollal. Since 2003, the company has provided roughly 1 billion won ($820,000) to various social institutions in Korea during Seollal and Chuseok, Korea’s two major holidays. (SPC Group)
IndustryFeb. 3, 2016
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[Photo News] S-Oil holds New Year's charity event
S-OIL’S NEW YEAR CHARITY -- S-Oil CEO Nasser Al-Mahasher (second from right) and company employees pass out tteokguk (rice cakes with soup) to hundreds of underprivileged citizens living in single-room occupancy housing in a shantytown near Yeongdeungpo Station in Seoul ahead of the Lunar New Year. The oil refiner has been carrying out this charity event annually since 2007. (S-Oil)
IndustryFeb. 3, 2016
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Korean film industry scores record sales in 2015
The Korean film industry beat its sales record for the sixth year straight year in 2015, driven by domestic hits and a record number of moviegoers, data by the official market tracker showed Wednesday. Total sales volume grew 1 percent year-on-year to 2.1 trillion won ($1.7 billion), mainly due to a record 200.1 million people watching movies in theaters, according to data from the Korean Film Council. These moviegoers generated 1.7 trillion won of sales, up 3.1 percent from 2014. The figure tra
FilmFeb. 3, 2016
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[Herald Interview] Winner up next in YG baton relay
YG Entertainment’s boy group Winner is the latest in the agency’s boy group lineup to take up the baton, following Big Bang in the first half of 2015 and iKON in the second half. After a 17-month hiatus -- a significantly long break considering that the group had only released their debut album before disappearing -- they’ve finally returned with the EP “EXIT: E.” The double lead tracks are the blues-infused, crooning “Baby Baby” and the more steadily rhythmic minor pop track “Sentimental.” At
PerformanceFeb. 3, 2016
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SXSW slate includes Reynolds documentary, McBride comedy
NEW YORK (AP) -- The South by Southwest Film Conference and Festival unveiled the slate for its 23rd edition, including premieres of a documentary on Burt Reynolds and an upcoming HBO series from Danny McBride.As usual for SXSW, the 139 films announced Tuesday by the Austin, Texas, festival are heavy on music documentaries, thrillers and comedies. Among them are Jesse Moss' "The Bandit," about Reynolds; the Ethan Hawke-starring revenge thriller from Blumhouse Pictures, "In a Valley of Violence";
FilmFeb. 3, 2016
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Lady Gaga to sing at Super Bowl, Grammys
LOS ANGELES (AFP) - Lady Gaga will perform at two of February's most-watched events as she sings the national anthem at the Super Bowl and leads a tribute to David Bowie at the Grammys. The National Football League announced that Lady Gaga would sing “The Star-Spangled Banner” at Super Bowl 50 on Sunday in San Francisco, where British rockers Coldplay will be the halftime entertainment. The Super Bowl is often the most-watched television event each year in the United States, and the league gener
PerformanceFeb. 3, 2016
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New Bosch painting unveiled on eve of 500th celebrations
THE HAGUE (AFP) - Art historians on Monday revealed that a painting stored for decades at an American museum was in fact a work by Dutch master Hieronymus Bosch. The surprise discovery comes as 's-Hertogenbosch, the hometown of the artist whose nightmarish visions on canvas earned him the moniker of “the devil’s painter,” marks the 500th anniversary of his death. The newly-uncovered painting has been lying forgotten for years in storage at the Nelson-Atkins Museum of Art in Kansas City, Missour
PerformanceFeb. 3, 2016
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NYC jury hears details of modern masters forgery scandal
NEW YORK (AP) -- In the latest chapter of a scandal that‘s jolted New York’s art world, a federal jury is hearing about a Chinese immigrant who forged fakes of modern masters such as Jackson Pollock and Mark Rothko in his garage, a once-reputable Manhattan gallery that sold them and the wealthy buyers who paid millions for the knockoffs."I got a fake painting for $8.3 million and they don't want to give my money back to me," Domenico De Sole, the chairman of the board at Sotheby’s auction house
PerformanceFeb. 3, 2016
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Haebora to release an earbud that “talks through the ear” in the U.S. next month
This month will see the release of a new earbud that “talks through the ear.” Haebora Co., Ltd., a corporation affiliated with the Gyeonggi Center for Creative Economy & Innovation, announced on January 29 that it will be officially releasing its latest product, RippleBuds, through Kickstarter (a U.S.-based crowdfunding platform for creative products) on February 23. Available in wired and wireless versions, RippleBuds is an earbud that features small speakers to transmit sound to the ears as we
TechnologyFeb. 3, 2016
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Ex-Interior Minister quits SNU professorship amid reproach
Former Interior Minister Chong Jong-sup, who announced his candidacy for the April parliamentary elections, came under fire Wednesday for having resumed his position at Seoul National University Law School. Faced by criticism that this may infringe upon students‘ rights, however, he immediately announced his resignation. Chong Jong-sup announces his bid to run in Donggu of Daegu for the April parliamentary election on Jan. 25. (Yonhap)Chong, who had taken a leave of absence upon taking his mini
Social AffairsFeb. 3, 2016
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Woman dies after getting trapped in Seoul subway screen door
A platform of the subway line No. 1 at Seoul Station where the accident occured on Wednesday. (Yonhap)An 81-year-old woman died on Wednesday after being stuck between a screen door separating the subway platform and the track of subway line No. 1 at Seoul Station in central Seoul. The woman, identified as her surname Seol, was getting off from the subway at 9:04 a.m. when the automatic screen door closed while she was trying to pass through, police said. The woman was dragged when the subway sta
Social AffairsFeb. 3, 2016