Most Popular
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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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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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'Smart pill'? ADHD treatment prescriptions spike this year
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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Israel targets Palestinian group in first strike on Beirut center
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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Man calls 119, found dead 1 week later because officials went to wrong place
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Lawyers bring history textbook row to court
A group of lawyers filed an appeal to the Constitutional Court on Tuesday over the government's move to reintroduce state-authored history textbooks for secondary school students.The Lawyers for a Democratic Society claim that the government's decision to publish national textbooks violates the Constitution, which stipulates autonomy in education.A little more than a month ago, the government announced it would revise the current textbook publication system so that middle and high school student
Social AffairsDec. 22, 2015
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Daewoo Shipbuilding set to sell 500 bln won new stocks
Shareholders of Daewoo Shipbuilding & Marine Engineering Co., a financially troubled shipbuilder, approved a proposal on Tuesday to increase the ceiling of new stock issuance, the latest in a series of steps to improve its shaky financial status.The shipbuilder plans to sell 414 billion won ($353 million) worth of new stocks, and may increase the figure to 1 trillion won depending on market conditions, it said.The new shares will be sold for 5,050 won each. Shares of Daewoo Shipbuilding closed a
IndustryDec. 22, 2015
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Six conglomerates fined for regulatory filing violations
South Korea's antitrust watchdog said Tuesday it has slapped a combined 1.54 billion won ($1.3 million) fine on six conglomerates for breaking regulatory filing rules as the country moves to better protect the rights of shareholders.The action by the Fair Trade Commission comes after a three-year probe that kicked off in April 2012, which checked the practices of the country's largest business groups.The FTC said 28 affiliates belonging to six conglomerates failed to complete or delayed filings
CompaniesDec. 22, 2015
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Opposition lawmakers get jail term for bribery
A local court on Tuesday handed down jail terms to two opposition lawmakers for taking kickbacks from a local vocational training school in return for helping pass a bill in favor of the school.The Seoul Central District Court sentenced Reps. Shin Geh-ryeun, 61, and Shin Hak-yong, 63, of the main opposition New Politics Alliance for Democracy party to 24 months and 30 months in jail, respectively.The court also ordered the 61-year-old Shin to pay a fine of 25 million won ($21,000) and forfeit an
PoliticsDec. 22, 2015
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Korea to issue 110.1 tln won in state bonds in 2016
South Korea will issue 110.1 trillion won ($93.4 billion) worth of state bonds in 2016 to finance its expansionary spending plans aimed at fueling growth, the finance ministry said Tuesday.The ministry said it will issue 9-10 trillion won worth of Treasurys evenly every month in the new year. Some 20-30 percent of state bonds will be issued with a maturity of three to five years, with 10-year bonds to account for 25-35 percent, it said. The government will also sell bonds with maturities of 20 a
Dec. 22, 2015
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Facebook most popular social media tool in Korea: poll
Facebook is the most popular social networking service in South Korea this year, a poll showed Tuesday, outpacing other global and local platforms.According to a survey by market researcher DMC Media on 780 SNS users aged between 19 and 59, 59.8 percent picked Facebook as their most-used SNS.KakaoStory, a photo-sharing service operated by Kakao Corp., followed with 17.1 percent. Kakao is the operator of KakaoTalk, a free mobile messenger that has 35 million local users in the country of 50 milli
Social AffairsDec. 22, 2015
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Seoul shares down 0.47% in late morning trade
South Korean stocks traded 0.47 percent lower late Tuesday morning, with losses in securities and engineering weighing down on the index. The benchmark Korea Composite Stock Price Index lost 9.22 points to 1,972.35 as of 11:20 a.m.Securities shares traded bearish as investors weighed the outlook for future interest rates in the United States.Samsung Securities shed 1.96 percent, and NH Investment & Securities declined 1.84 percent. Korea Aerospace Industries, South Korea's sole aircraft maker, r
Dec. 22, 2015
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Park: Korea credit rating may be downgraded if reform fails
President Park Geun-hye said Tuesday that South Korea's sovereign credit rating may be downgraded if structural reforms falter.Park described global rating agency Moody's recent upgrade of South Korea's sovereign credit rating as "a message of warning" that it could be downgraded if Seoul fails to make structural reforms."We will lose the trust of the international community" if South Korea fails to deliver innovation and reform, Park said in a Cabinet meeting.Three days ago Moody's upgraded Sou
PoliticsDec. 22, 2015
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Korean economy to grow 2.6% in 2016: think tank
The South Korean economy is expected to grow 2.6 percent in 2016 from this year amid a prolonged slump in exports and weak consumer spending, a major private think tank said Tuesday.The forecast by the Korea Economic Research Institute is grimmer than the government's prediction of 3.1 percent and the Bank of Korea's 3.2 percent projection. In its latest economic outlook, the think tank said the local economy "is forecast to show an L-shaped trajectory by logging a mere 2.6-percent expansion fol
Dec. 22, 2015
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U.S. rate hike may have 'considerable' impact on Korea: BOK
A recent U.S. rate hike may have little direct impact on the South Korean economy but its fallout may grow considerably should it cause financial instability in newly emerging markets in Asia, the country's central bank said Tuesday."There is a possibility the U.S. rate hike will reduce global liquidity, which in turn may significantly increase the burden of newly emerging market countries to repay their foreign debts while also expanding capital outflow from such countries," the Bank of Korea (
Dec. 22, 2015
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Korea to hike support for 'comfort women' by 21% in 2016
Government support for Korean women who were forced to become sex slaves for Japanese troops during World War II will increase 21 percent in 2016 from this year, the finance ministry said Tuesday.The increase will allow each of the 46 surviving victims to receive 1.26 million won ($1,070) in living subsidies per month, up from a little over 1.04 million won this year."The decision to sharply increase support comes as the average age of the victims, who were euphemistically called 'comfort women'
PoliticsDec. 22, 2015
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Cancer patient survival rate hits 69.4% in 2013: data
The survival rate of cancer patients reached 69.4 percent in 2013, with the total number of people being treated dipping slightly from the year before, government data showed Tuesday.The Ministry of Health and Welfare report showed that from 2009 to 2013, two out of three people diagnosed with cancer lived more than five years, up 15.6 percentage points from 53.8 percent tallied for the 2001-2005 period.The survival rate for stomach cancer reached 73.1 percent, with numbers for colorectal and pr
Social AffairsDec. 22, 2015
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Korea to intensify passenger pre-screening prior to flying
South Korea said Tuesday it will ban potential terrorists or other dangerous passengers from boarding any plane bound for the Asian country at the point of departure.The Ministry of Justice said it will analyze passenger information before airlines issue boarding passes to restrict inappropriate ones, such as terrorists, from flying into South Korea.The move will take effect in January. South Korea is also pushing for an anti-terrorism bill following the deadly attacks in Paris that killed more
Social AffairsDec. 22, 2015
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'Dokdo School' opens in Shanghai
A school dedicated to teaching the history of South Korea's easternmost islets of Dokdo has opened in Shanghai, a South Korean professor leading the program said Tuesday.The so-called "Dokdo School" is aimed at raising awareness of the rocky outcroppings in the East Sea, the subject of a territorial dispute with Japan.Seo Kyoung-duk, a professor at Seoul's Sungshin Women's University, said he set up the school in Shanghai following one in New York as part of efforts to expand education about Dok
Social AffairsDec. 22, 2015
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Korea, China hold first talks on EEZs in 7 years
South Korea and China opened the first talks Tuesday on their overlapping exclusive economic zones (EEZs) in seven years but skepticism is rampant over an early deal.Vice Foreign Minister Cho Tae-yul and his Chinese counterpart Liu Zhenmin began the negotiations here in an amicable mood as they cited good relations between Seoul and Beijing these days.Cho said the two sides are bracing for "difficult and lengthy" talks due to legal and technical issues."The negotiations are very difficult and im
Foreign AffairsDec. 22, 2015
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Korea's per capita coal consumption ranks 5th worldwide in 2014
South Korea's per capita coal consumption was the fifth largest in the world last year. Asia's fourth-largest economy still relies on fossil fuels for most of its energy, data showed Tuesday.The average coal use per person stood at 2.29 tons of coal equivalent in 2014, following Kazakhstan, Australia, Taiwan and South Africa, the report by the International Energy Agency showed.The amount surpasses the 2.07 TCE per capita consumption in China, the world's biggest coal consumer, and is double the
Dec. 22, 2015
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Moderate earthquake hits southwestern Korea
A magnitude-3.5 quake jolted South Korea's southwest on Tuesday, officials said, but there were no immediate reports of damage.The predawn quake hit Iksan, some 250 kilometers south of Seoul, and was also felt in Seoul and the second-largest city of Busan, according to the Gwangju Regional Meteorological Administration."The house windows shook hard for seven to 10 seconds and I heard banging sounds," a 58-year-old resident in Iksan told Yonhap News Agency, requesting not to be named.It was the s
Social AffairsDec. 22, 2015
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Trade commission recommends slapping antidumping duties on Chinese plywood
South Korea's trade commission said Tuesday that it will recommend slapping antidumping duties on Chinese plywood made with needleleaf trees.The Korea Trade Commission said it confirmed unfair price cutting practices that distorted the market and decided to set punitive tariff rates of 4.22-7.15 percent. It said these measures would be enforced for four year.It said the recommendations have been sent to the finance ministry, which will make the final decision on what actions will be taken.The KT
Dec. 22, 2015
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Corporate direct financing jumps 19% in Nov.
Sales of stocks and bonds by South Korean companies surged 19.3 percent from a month earlier last month with sales of both equity and debt showing significant growths, the financial watchdog said Tuesday.In November, local companies raised a combined 12.14 trillion won ($10.31 billion) by selling stocks and bonds, compared with 10.18 trillion won in the previous month, according to the Financial Supervisory Service .The monthly tally also marks an 8.5-percent rise from the same month last year.C
Dec. 22, 2015
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Card spending up nearly 10% in Nov.
South Korea's card spending grew sharply in November, data showed Tuesday, pointing to a gradual recovery in domestic demand. Purchases made with plastic cards reached 54.1 trillion won ($45.94 billion) last month, up 9.8 percent from a year earlier, according to data compiled by the Credit Finance Association. The data includes transactions on credit, debit and prepaid cards. Cash advances, overseas spending and card loans were not included.Of the amount, credit card spending increased 8.8 perc
Dec. 22, 2015