Most Popular
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Yoon warns North Korea against nuclear attack attempt
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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81-year-old model awarded ‘best dressed’ in Miss Universe Korea
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Shut up and dance
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Seoul mayor suggests shift in immigration policy
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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Israel targets Palestinian group in first strike on Beirut center
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Brit pop legend Oasis to perform in Seoul next year
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'Smart pill'? ADHD treatment prescriptions spike this year
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Soldier completes rehab after double amputation by North Korean
An Army staff sergeant who lost both legs in the North Korean landmine attack in early August was discharged from the hospital Tuesday after five months of treatment and rehabilitation that has enabled him to use prosthetic limbs.Twenty-one-year-old Staff Sgt. Hah Jae-hun was conducting a patrol mission on the South Korean side of the Demilitarized Zone when landmines buried by North Korea exploded and maimed him and another soldier on Aug. 4. The landmine attack, followed by North Korean artil
DefenseDec. 29, 2015
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Seoul shares down 0.3% in late morning trade
South Korean stocks traded 0.3 percent lower late Tuesday morning as institutional and foreign investors trimmed their holdings. The benchmark Korea Composite Stock Price Index lost 5.89 points to 1,958.17 as of 11:20 a.m.Tech giant Samsung Electronics was among marked decliners, trading down 1.73 percent. Bank and insurance companies also weighed on the market. SK Group shares traded bearish after media reports over its chairman's plan to divorce his long-estranged wife. SK Telecom plunged 5 pe
Dec. 29, 2015
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Market cap of Korea's 3rd bourse skyrockets
South Korea's young venture-driven stock market saw its market capitalization more than double over the past year, data showed Tuesday, on the back of the government's push to foster small- and medium-sized companies.The Korea New Exchange had a market cap of 3.6 trillion won (US$3.08 billion) as of Monday, soaring from 1.4 trillion won posted at end-2014, data compiled by bourse operator Korea Exchange showed.It also marked a giant leap from 0.9 trillion in 2013, when the market first opened it
Dec. 29, 2015
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Chinese media cast wary eye on Korea-Japan deal on wartime sex slaves
A newspaper published by China's ruling Communist Party on Tuesday took a wary and skeptic note on a landmark deal between South Korea and Japan on the issue of Korean victims of Japan's wartime sexual slavery, insisting that the deal will have "little influence" in Northeast Asia. Both South Korean President Park Geun-hye and Japanese Prime Minister Shinzo Abe said their bilateral relations entered a new era with the Monday deal. The United States praised the deal on the issue that has seriousl
InternationalDec. 29, 2015
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Biz outlook remains gloomy for Jan.
A majority of companies in South Korea are pessimistic about their business outlooks for next month, citing the impact from the recent rate hike by the U.S. and other downside factors such as falling commodity prices, a poll showed Tuesday.According to the survey of 600 South Korean companies conducted by the Federation of Korean Industries, the business survey index for January stood at 93.2.A reading below 100 means that companies that are pessimistic about business conditions down the road ou
Dec. 29, 2015
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Korea opens office cluster for content industry
South Korea opened an office cluster in Seoul on Tuesday to develop the country's creative content industry and nurture its future talent, the culture ministry said.The "Cel" cluster is located in a former office building of the Korea Tourism Organization in central Seoul and will house more than 90 startups by the end of this year, the Ministry of Culture, Sports and Tourism said."Cel" stands for "Creative Economy Leader" and "Cultural Enrichment Leader."President Park Geun-hye expressed hope t
IndustryDec. 29, 2015
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Large businesses worry about destabilizing relations with labor next year
Three out of 10 large businesses in South Korea are voicing worries over the possibly of worsening relations with labor unions next year due in part to the ongoing controversy over the government-led labor reform drive, a poll showed Tuesday.In a survey conducted by the Korea Employers Federation of its 304 member companies, 67.1 percent of respondents expected labor-management relations to destabilize further next year.Of those polled, 46.2 percent cited the ongoing controversy over the governm
Social AffairsDec. 29, 2015
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Samsung to showcase IoT-based TVs at CES 2016
Samsung Electronics Co. said Tuesday it will showcase smart TVs equipped with Internet-of-Things platforms at a major consumer electronics exhibition to be held in the U.S. early next year.The South Korean tech giant said it will be using the IoT platform in its entire smart TV lineup for 2016, which will be first introduced at the Consumer Electronics Show 2016 to be held in Las Vegas on Jan. 6-9.The IoT is a concept in which all tangible objects are connected to the Internet and can identify t
TechnologyDec. 29, 2015
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Sales grow at department stores but drop at discount outlets in Nov.
Sales at major department stores here continued to grow in November while those at major discount outlet chains again suffered a drop partly due to reduced operating hours, government data showed Tuesday.The combined sales of three major department store chains gained 1 percent from a year earlier last month, according to data compiled by the Ministry of Trade, Industry and Energy. The three department store chains are Hyundai, Lotte and Shinsegae.November marked the second consecutive month of
IndustryDec. 29, 2015
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Hyundai Motor workers approve annual wage deal
Unionized workers at Hyundai Motor Co., South Korea's leading carmaker, voted on Tuesday in favor of a tentative wage deal reached with the management that promises a pay raise, bonuses and other benefits.In a yes-or-no vote, 25,172 workers, or 59.72 percent of votes cast, supported the deal, wrapping up about six months of talks complicated by several labor strikes.Leaders of the labor union and management earlier agreed to raise the base salary by 4.2 percent, or 85,000 won ($72.7), along with
Social AffairsDec. 29, 2015
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LNG price to be cut by 9% from next month: gov't
The price of liquefied natural gas used by South Korean households and private firms will be reduced by an average 9 percent from the start of next month, the government said Tuesday.The rate reduction reflects recent cuts in global oil prices, while the exact rate of the cut was decided at a policy coordination meeting with the ruling Saenuri Party, according to the Ministry of Trade, Industry and Energy."The price of LNG supplied by the Korea Gas Corp. has been cut by 20.7 percent this year, a
Dec. 29, 2015
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Japanese NGOs express disappointment over Seoul-Tokyo deal on sex slavery
Japanese civic groups said Tuesday that a South Korea-Japan deal on Tokyo's wartime sex slavery is insufficient to heal the pains of Korean victims, raising doubts about whether Japan has sincerely apologized for its atrocity.South Korea and Japan reached a rare deal Monday to resolve the issue of South Korean women coerced into sex slavery for Japanese soldiers during World War II.The deal included Japan's apology for Korean victims and a 1 billion yen ($8.29 million) fund to be created with Ja
Foreign AffairsDec. 29, 2015
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BAT Korea appoints new CEO
Erik Stoel (BAT Korea)Erik Stoel, marketing director of British American Tobacco Korea, has been appointed its new chief executive, the company announced Tuesday. Stoel will take office on Jan. 1, replacing the incumbent CEO Guy Meldrum who has been transferred as head of BAT Australasia. “Over the past 3 years, in his role as marketing director of BAT Korea, Mr. Stoel has made a substantial contribution to the company by strengthening the company’s flagship brand Dunhill to establish BAT Korea
IndustryDec. 29, 2015
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SK chairman to divorce, admits to affair
SK Group chairman Chey Tae-won has revealed that he “has a child with another woman” and plans to divorce his wife Roh Soh-yeong, personally putting an end to the speculations surrounding his shaky marriage. In a three-page letter to the daily Segye Ilbo, which was confirmed by SK Group on Tuesday, Chey said his marriage with Roh “had been falling apart over the past 10 years” despite “several efforts to restore the relationship.” SK Group chairman Chey Tae-won (Yonhap) While the two were “discu
IndustryDec. 29, 2015
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Korea says deal on 'comfort women' reached with principle
Cheong Wa Dae said Tuesday that a landmark deal with Japan on the issue of Korean women forced into sexual slavery for Japanese soldiers during World War II was reached in accordance with principle.On Monday, the two countries announced the agreement on the former sex slaves that centered on Japan's admission of responsibility for the wartime crime and plans to pay reparations to the victims."(The deal) was reached in accordance with the firm principle that victims' honor should be restored, and
Foreign AffairsDec. 29, 2015
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Korea to expand flexible tariff list in 2016
South Korea will increase the number of products on its flexible tariff list next year to boost exports and spur growth in Asia's fourth-largest economy, the government said Tuesday.The number of products eligible for preferential tariff rates will rise to 51 in 2016, up from 41 this year, according to the Ministry of Strategy and Finance.Flexible tariffs, which cover both tariff quotas and adjustment duties, are used by the government to temporarily raise or lower basic tariff rates on particul
Dec. 29, 2015
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Korea sees record movie-goers for 5th straight year
The number of movie-goers in South Korea has reached a new high for a fifth consecutive year in 2015, thanks in part to the popularity of domestic movies, data by the official market tracker showed Tuesday.More than 215.2 million people went to the movies from Jan. 1 to Monday, surpassing the previous year's record of 215.1 million, data by the Korean Film Council showed.The number of movie-goers has risen every year since 2011, when 159.7 million people opted for big screens over home cinema.Th
FilmDec. 29, 2015
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Senior gov't officials to visit 'comfort women'
South Korea's No. 2 diplomats will pay a visit to victims of Japan's wartime sexual slavery Tuesday to discuss a landmark agreement aimed at ending the two countries' dispute over the crime, the Foreign Ministry said.South Korea and Japan reached a breakthrough deal Monday, which centers on Tokyo's admission of responsibility for the atrocity and plans to pay reparations to the victims.First Vice Foreign Minister Lim Sung-nam and Second Vice Foreign Minister Cho Tae-yul plan to meet with the vic
PoliticsDec. 29, 2015
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North Korea condemns South Korea-Japan deal on sex slaves
North Korea criticized South Korea Tuesday for reaching a deal with Japan over Tokyo's wartime sex slavery, calling it a "humiliating agreement" that missed holding the Japanese state responsible for such atrocities.A day earlier, Seoul and Tokyo reached a rare deal to resolve the issue over Korean women forced into Japan's sex slaves during World War II. The agreement included Japan's apology for Korean victims and a 1 billion yen ($8.29 million) fund to be created with Japan's money, but it fa
Foreign AffairsDec. 29, 2015
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Seoul shares start lower on financial, telecom losses
South Korean stocks opened lower Tuesday, led by declines in financial, telecom and other large-cap shares.The benchmark Korea Composite Stock Price Index shed 6.13 points, or 0.31 percent, to 1,957.93 in the first 15 minutes of trading.Blue-chip shares opened in negative terrain, with institutions and foreign investors trimming their holdings. Financial and telecom issues were leading the downward move. The local currency was trading at 1,167.65 won against the U.S. dollar as of 9:15 a.m., down
Dec. 29, 2015