The Korea Herald

Samsung’s Lee Kun-hee top dividend earner in 2015

Samsung Group head Lee Kun-hee trumped all business tycoons in the country in terms of dividend earnings in 2015, data showed Friday.The 2015 dividend income of Lee, chairman of Samsung Electronics, reached 177.16 billion won ($143.3 million), according to data by financial information provider FnGuide. Samsung’s Lee Kun-hee (Yonhap)Lee, who has been hospitalized since May 2014 after suffering a heart attack, will receive 99.71 billion won in dividends from Samsung Electronics alone, the group’s

IndustryFeb. 26, 2016

Samsung’s Lee Kun-hee top dividend earner in 2015

Sharp shares plunge as takeover thrown into question

Sharp's shares dived nearly 15 percent on Friday, after the Taiwanese multinational that owns Foxconn said it would delay its multi-billion-dollar takeover to review new information it had received about the ailing Japanese giant.Analysts had cheered Hon Hai Precision's bid for Sharp -- the first overseas acquisition of a major Japanese electronics firm -- which has teetered on the edge of bankruptcy for years as its consumer electronics division piled up massive losses.But after markets closed

IndustryFeb. 26, 2016

Sharp shares plunge as takeover thrown into question

Korean household spending dips to record low in 2015

Korea's household spending fell to an all-time low in 2015 despite a slight increase in income, as households repaid debts and spent less amid an economic slump, a government report showed Friday.The average consumption propensity, or the ratio of total consumption spending to disposable income, came to 71.9 percent, down 1 percentage point from a year earlier, according to a report from Statistics Korea. Shoppers at a department store in Seoul (Yonhap)It is the lowest reading ever since the sta

Feb. 26, 2016

Korean household spending dips to record low in 2015

Korea's auto market grows to world's 10th largest in 2015

Korea's automobile market grew 10.3 percent in 2015 in the face of an economic slump, becoming the world's 10th largest in vehicle sales, data showed Friday.More than 1.83 million domestically made and imported cars were sold here last year, accounting for 2 percent of auto sales around the globe, according to the data compiled by the Korea Automobile Manufacturers' Association (KAMA).In 2014, the country was the 11th-largest auto sales market.The organization said the increase in auto sales was

MobilityFeb. 26, 2016

Korea's auto market grows to world's 10th largest in 2015

Korea's card spending jumps 16% in January

Korea's card spending rose sharply in January, data showed Friday, on the back of increased consumption for the Lunar New Year holiday and a gradual recovery in domestic demand.Purchases made with plastic cards reached 56.1 trillion won ($45.4 billion) last month, up 15.9 percent from a year earlier, according to data compiled by the Credit Finance Association (CREFIA). (Bloomberg)The data includes transactions on credit, debit and prepaid cards. Cash advances, overseas spending and card loans

Feb. 26, 2016

Korea's card spending jumps 16% in January

Lending rates on new household loans rise in January

Bank lending rates on new household loans ticked up in January from a month earlier, central bank data showed Friday, possibly indicating local lenders' anticipation of rate hikes down the road.The average interest rate on new household loans gained 0.05 percentage points from a month earlier to 3.28 percent last month, according to the data from the Bank of Korea (BOK).January marked the third consecutive month of a rise in the average rates on new household loans.Such an increase apparently ca

Feb. 26, 2016

Lending rates on new household loans rise in January

Korean shares up in morning trade

Korean shares traded bullish on Friday morning as investors eyed a meeting of the world’s top finance officials in China. The benchmark Korea Composite Stock Price Index wrapped up the morning session in the positive, rising 0.21 percent to trade at 1922.51 points. Traders monitor share prices at a local bank. (Yonhap)Finance ministers and central bankers from the Group of 20 economies gathered in Shanghai today for a two-day discussion on ways to stabilize the global market and spur growth. To

Feb. 26, 2016

Rayence to go public in April

Rayence, a manufacturer of detectors for digital X-rays, plans to get listed in April on Korea’s tech-heavy secondary bourse KOSDAQ, the company said Thursday. The company said it filed a registration statement for an initial public offering to sell 4 million shares in an expected price range of 22,000 won ($17.8) to 25,000 won per share. (Rayence)The subsidiary of a Korean X-ray manufacturer Vatech, it provides imaging solutions for medical, dental, veterinary, and industrial X-ray application

Feb. 26, 2016

Cardinals' Oh Seung-hwan to stick to trusted arsenal

Having thrown live batting practice for the first time with the St. Louis Cardinals, South Korean reliever Oh Seung-hwan said Thursday he will mostly stick to his tried and tested arsenal in the majors.Oh faced hitters for the first time Wednesday to solid reviews. Infielder Greg Garcia said Oh's ball "was jumping" and the right-hander didn't offer up anything straight.Oh, a lights-out closer in both South Korea and Japan for a decade before joining the Cards this offseason, built his career mos

BaseballFeb. 26, 2016

Korean sports chiefs to meet IOC next week over merger

The South Korean sports ministry plans to meet the International Olympic Committee next week with two leaders of local sports governing bodies at odds over their merger, a government official said Friday.An official at the Ministry of Culture, Tourism and Sports told Yonhap News Agency that the ministry is preparing to send its vice minister Kim Chong, along with the Korean Olympic Committee head Kim Jung-haeng and the Korea Council of Sport for All chief Kang Young-joong, to Lausanne, Switzerla

Olympic GamesFeb. 26, 2016

U.N. ban on mineral exports to hurt North Korea's revenue: Seoul

North Korea's foreign currency earnings would be cut drastically if the United Nations adopts sanctions on the country's mineral exports, the South Korean government said Friday.The United States and China have agreed on a package of new sanctions against Pyongyang for its fourth nuclear test on Jan. 6 and long-range missile test on Feb. 7.The reclusive country is banned from such tests under previous U.N. resolutions that seek to counter North Korea's development and proliferation of weapons of

North KoreaFeb. 26, 2016

Politicians collected least amount of donations last year since 2012

South Korean lawmakers collected the lowest amount of political donations last year since 2012, official data showed Friday, in an apparent reflection of growing political apathy.A total of 291 lawmakers received just over 36.2 billion won ($29.2 million) in political donations through their supporters' associations, according to the country's election watchdog the National Election Commission.On average, each lawmaker collected 124 million won in donations, about 25 million won short of an uppe

PoliticsFeb. 26, 2016

'Strongest' U.N. sanctions agreed, but implementation still challenging

The United States and China have agreed on tougher-than-expected U.N. sanctions on North Korea, if not "terminating," government officials here said Friday.But they acknowledged the challenges inherent in enforcing the resolution likely to be adopted at the U.N. Security Council early next week.It contains "unprecedented strong and comprehensive" sanctions on Pyongyang for its Jan. 6 nuclear test and a long-range rocket launch a month later, a South Korean official said. "If the resolution is im

North KoreaFeb. 26, 2016

Debate heats up over Korea's nuclear armament

A debate is heating up over whether South Korea should pursue nuclear armament after North Korea has fueled security jitters here by conducting a fourth nuclear test last month.Experts and politicians are sharply divided as they contemplate the potential benefits and perils of the South's nuclearization, which they say is bound to reshape the contours of regional politics and security. The Seoul government has said that its vision of a nuclear-free peninsula will remain unchanged with the U.S.'

DefenseFeb. 26, 2016

Official renews call for parliamentary approval of anti-terrorism bill

The presidential office on Friday asked the parliament to endorse an anti-terrorism bill in the latest push to try to better protect South Korea from any possible terror attacks.Presidential spokesman Jeong Yeon-guk expressed hope that the National Assembly "would take into account public safety exposed to terror threats."Opposition lawmakers staged a marathon filibuster for the third straight day Friday, dimming prospects of any bipartisan breakthrough on the bill.The rival parties have been at

PoliticsFeb. 26, 2016

New U.N. resolution expected to dent North Korea-China trade

A draft U.N. resolution aimed at imposing more stringent sanctions on North Korea after its nuclear test and rocket launch is expected to curtail bilateral trade between Pyongyang and its ally China, but it remains to be seen how far Beijing will go in limiting trade with the country. The draft resolution came after an agreement between the United States and China, which has been reluctant to put crippling economic sanctions against North Korea due to fears over a collapse of the North Korean ec

North KoreaFeb. 26, 2016

Daniel Russel in South Korea for talks on North Korea

A senior U.S. diplomat arrived in Seoul Friday for talks with South Korean officials on how to deal with North Korea after the imminent adoption of a U.N. resolution.Assistant Secretary of State Daniel Russel is scheduled to meet with Vice Foreign Minister Lim Sung-nam and Deputy Foreign Minister Kim Hong-kyun to discuss the allies' joint response to North Korea's nuclear and missile tests, according to the ministry.Washington and Beijing agreed Wednesday on a draft resolution calling for the st

North KoreaFeb. 26, 2016

Dodgers' Ryu Hyun-jin pleased with breaking pitches in long toss

Recovering from a May shoulder operation that ended his 2015 season before it began, Los Angeles Dodgers left-hander Ryu Hyun-jin said Thursday he was pleased with breaking pitches that he threw in his long toss.At Camelback Ranch, the site of the Dodgers' spring training in Arizona, Ryu said he mixed in curves, changeups and sliders with his fastball."The spins weren't too bad," Ryu said with a smile in the club house while icing down the surgically repaired left shoulder.Ryu, who didn't throw

BaseballFeb. 26, 2016

U.S. Pacific commander: THAAD talks don't necessarily mean deployment

The decision by South Korea and the United States to begin consultations on the potential deployment of the THAAD missile defense system doesn't mean the two sides have agreed to deploy the system, the U.S. Pacific commander said Thursday."Neither South Korea nor the United States have agreed to put a THAAD in Korea," Adm. Harry B. Harris Jr. said at a Pentagon briefing. "The decision to discuss it is not necessarily a decision to do it, not yet. So, we're having the discussions now, and we'll s

DefenseFeb. 26, 2016

China FM: THAAD could jeopardize, threaten China's security interests

Chinese Foreign Minister Wang Yi said Thursday that China's national security interests could be "jeopardized or threatened" by the THAAD missile defense system the U.S. and South Korea are considering deploying to better cope with threats from North Korea.Speaking at a think tank in Washington, Wang said he understands the U.S. and the South want to ensure their own security, but the "X-band radar" associated with the Terminal High Altitude Area Defense (THAAD) system "has a radius that goes fa

Foreign AffairsFeb. 26, 2016