Most Popular
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Yoon warns North Korea against nuclear attack attempt
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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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Court rules Itaewon tragedy was 'foreseeable'
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Samsung Engineering wins $550 mln plant order
Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group, said Monday that it has received a 649 billion won ($550 million) order to improve a refining plant in Mexico.Under the deal with Petroleos Mexicanos, Samsung Engineering will upgrade the plant with a capacity of 53,000 barrels of ultra-low sulfur diesel by the end of 2018.The deal also includes building a new plant in Salamanca, northwest of Mexico City, which produces 38,000 barrels of ULSD by
IndustryDec. 21, 2015
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Seoul shares start higher on Moody's credit upgrade
South Korean stocks opened higher Monday as the upgrade of the country's rating by Moody's over the weekend boosted investor sentiment here. The benchmark Korea Composite Stock Price Index added 4.51 points, or 0.23 percent, to 1,979.83 in the first 15 minutes of trading.Petrochemical shares bounced back from last week's loss.Top refiner SK Innovation rose 2.28 percent, and No. 3 S-Oil jumped 4.07 percent.Korea Aerospace Industries sank 3.6 percent after a T-50 trainer jet crashed during an air
Dec. 21, 2015
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Koreas divided over land use fee at joint industrial park
South and North Korea remain at odds with each other over how much South Korean firms operating at a joint industrial park in the North should pay for land use, government officials said Monday.The two Koreas are in talks over the payment by 124 South Korean firms of land use fees at Kaesong Industrial Complex where about 54,000 North Koreans are working, according to officials at the Unification Ministry.The complex in the North's border city of Kaesong was opened in 2004 as a symbol of inter-K
North KoreaDec. 21, 2015
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Credit upgrade mitigates risk of capital flight: Choi
Deputy Prime Minister Choi Kyung-hwan speaks at a press conference in Seoul on Sunday. (Yonhap)Deputy Prime Minister Choi Kyung-hwan said Sunday that Moody’s recent upgrade of Korea’s credit rating mitigates the potential risk of capital flight from Korea, a key concern for emerging economies after the U.S. initiated its first interest rate hiking cycle in nearly a decade. "There have been worries that Korea could be at the same risk with newly emerging markets, but Moody’s move could be seen a
Dec. 21, 2015
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SK launches W30b fund to support start-ups
SK Group on Sunday launched a 30 billion won ($25 million) fund that aims to support tech start-ups in the fields of agriculture and fisheries. The fund targets venture firms and young entrepreneurs based in Daejeon and the neighboring Sejong area where SK opened a start-up acceleration center in July to join a government-led initiative across industries. With the latest funding, SK has secured a combined 75 billion won to support venture firms and start-ups and create an ecosystem for business
TechnologyDec. 21, 2015
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Foreigners turn net sellers of Korean shares in 2015
Foreign investors turned net sellers of South Korean stocks this year, snapping their three-year buying streak, data showed Monday. Offshore traders sold a net $154 million on the main KOSPI market during the first 11 months of the year, according to the data compiled by the Korea Exchange. From Dec. 1 until last Friday, they offloaded $2.53 billion.It is the first time since 2011 that foreigners shunned local stocks. They picked up a net $5.89 billion worth of shares last year, $5.09 billion in
Dec. 21, 2015
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U.S. should more forcefully intervene in resolving Seoul-Tokyo tensions: expert
The United States should intervene more forcefully in improving relations between South Korea and Japan, an American expert said, stressing that tensions between the two key allies are hindering the U.S.'s ability to deal with North Korea, China and other challenges.Mark Manyin, an Asian affairs specialist at the U.S. Congressional Research Service, made the point in a paper to the Council on Foreign Relations, arguing that forceful intervention carries risks, but the "costs of nonintervention a
Foreign AffairsDec. 21, 2015
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EQ900 gives glimpse of what autonomous driving will look like
Push the "smart" button on the door and it asks your height and weight. It analyzes the data for a moment and then optimizes the position of the seat before you hit the road.The engine cranks up but the inside remains calm. And when you step on the accelerator, it moves smoothly as if it slides forward on silk. Still, fasten your "mental" seat belt and brace for more, since these might be just the beginning of what you could experience from Hyundai Motor Co.'s newly-launched EQ900 flagship luxur
MobilityDec. 21, 2015
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Hyundai, Kia Chinese market share to top 10% next year
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are likely to see their combined market share in China exceed 10 percent next year, driven by strong demand for their new models, industry data showed Monday.According to the data, the automakers' market share in China stood at 9.1 percent in November, the third highest after Volkswagen's 16.4 percent and GM's 12 percent.Last month's market share marks a rebound from the 7.2 percent in June, but still fell short of this year's record h
MobilityDec. 21, 2015
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Asia Culture Center holds free tours for visitors
Asia's largest cultural center in the southwestern city of Gwangju said Monday it has scheduled three tours daily to introduce its vast space to visitors.The Asia Culture Center opened last month in a government project to nurture Gwangju as the cultural center of Asia.ACC said it runs tours at 1 p.m., 2:30 p.m. and 4 p.m. daily to guide visitors through the old South Jeolla provincial office remodeled for the center.Among the areas available to visit is the Library Park, which is a combination
Social AffairsDec. 21, 2015
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T-50 trainer jet crashes at Indonesian air show, killing 2 pilots
A T-50 trainer jet fighter crashed during an air show in Indonesia on Sunday, killing two pilots aboard, local media reported. The light attack aircraft, made by Korea Aerospace Industries, crashed on the second day of an air show celebrating the 70th anniversary of the Air Force Flight School in Yogyakarta, a tourist city on the main island of Java. Indonesian Air Force spokesman Dwi Badarmanto said the pilot and co-pilot aboard the KAI T-50i Golden Eagle aircraft died instantly, while no one
NationalDec. 20, 2015
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Denmark marks 150 years since C. Nielsen’s birth
The Danish Embassy teamed up with communications company Jabra to hold a concert Tuesday to mark the 150th birth anniversary of Danish composer Carl Nielsen. The event at the Seoul National University Museum of Art attracted 150 guests from diplomatic missions, cultural industries, educational institutions and business communities, part of worldwide performances celebrating the occasion. Danish-Korean group “Trio con Brio Copenhagen” ― comprised of Korean sisters, violinist Hong Soo-jin and cell
Foreign AffairsDec. 20, 2015
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French language gets boost in Korea
The International Organization of the Francophonie (OIF), an agency dedicated to popularizing French language and culture worldwide, launched a support group in Seoul last week to widen collaboration with Korea.The Council of Promotion of Francophonie in Korea is comprised of diplomats with networks in Tokyo, Hanoi, Bangkok and Jakarta. The agency will support cultural events, academic conferences and business partnerships, meeting once or twice a year.“We are here to celebrate Francophonie’s es
Foreign AffairsDec. 20, 2015
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Tunisian Embassy celebrates quartet’s Nobel Peace Prize
The Tunisian Embassy on Tuesday held a reception to commemorate the awarding of this year’s Nobel Peace Prize to the Tunisian National Dialogue Quartet, a coalition of unionists, employers, lawyers and human rights activists that brokered peace and forestalled a civil war.The quartet is credited with preventing violence in 2013, following the Jasmine Revolution that overthrew longtime president Zine El Abidine Ben Ali and ended six decades of dictatorship. By facilitating compromise between dive
Foreign AffairsDec. 20, 2015
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Indonesia honors Korean Army general
The Indonesian Embassy on Friday awarded a former Korean military chief for his contributions to strengthening the bilateral alliance and Indonesia’s defense capacity. Former ROK Army Chief of Staff Kim Yo-han was awarded the Order of Service Medal, an honor bestowed to individuals who made distinguished achievements benefiting the Indonesian government or military. The medal is conferred by Indonesian President Joko Widodo. “The Indonesian government and army express deep gratitude to Gen. Kim
Foreign AffairsDec. 20, 2015
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KT steps up attack on SKT over takeover plan
Mobile carrier KT has ratcheted up criticism of its local rival SK Telecom’s plan to acquire CJ Hellovision, a cable TV and mobile virtual network operator. Lim Heon-moon, president of KT’s mass general business division in charge of the business-to-customer segment, said Friday that SKT’s acquisition of CJHV is something that would “wreak havoc to both telecommunications and broadcasting industries.” He went as far as saying that SKT, the No. 1 wireless carrier with its market share reaching
TechnologyDec. 20, 2015
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WTO members agree to end farm subsidies
The member countries of the World Trade Organization agreed to end agricultural export subsidies by 2023 during their latest ministerial talks in Nairobi, Kenya, on Saturday. The Korean Trade Ministry said Sunday that the 162 WTO members reached a dramatic agreement on some key issues in the agricultural sector, including the sensitive farm subsidies. (Yonhap)WTO director general Roberto Azevedo in a statement welcomed the agreement, calling it the “most significant outcome on agriculture” in t
Dec. 20, 2015
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Daewoo E&C seeks sale of mall near Yongsan Station
Daewoo Engineering & Construction Co. is promoting the sale of “Yongsan Summit Square,” a shopping mall in Yongsan, central Seoul, company officials said Sunday.The officials said the mall in front of Yongsan Station was part of the high-rise residential complex “Yongsan Prugio Summit” that the company has constructed. An artist’s rendering of Yongsan Prugio Summit (Daewoo E&C)The three-story mall includes 139 shops and is expected to draw high demand given that it is situated near AmorePacifi
IndustryDec. 20, 2015
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Korea enters into 3 new FTAs
Korea on Sunday entered into free trade pacts with three economies, including its largest trade partner and one of today’s major sources of global economic uncertainty ― China. (Yonhap)The FTAs with China, Vietnam and New Zealand are projected to bring to Korea an additional 1 percentage point in gross domestic product growth over the next decade through a $5 billion increase in annual shipments to the three markets. “Global trade outlook is not good, but we hope the FTAs will serve as a much-n
Dec. 20, 2015