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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'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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Man calls 119, found dead 1 week later because officials went to wrong place
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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AI textbook bubble could burst, expert warns
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Fights, complaints, stalker fans among reasons passengers exit planes before takeoff
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[Photo News] Armed Forces Day
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New USFK assistant chief of staff named
The commanding general of the Army's 1st Cavalry Division at Fort Hood, Texas, was named as assistant chief of staff of U.S. Forces Korea, the Pentagon announced Tuesday. The appointment of Maj. Gen. Michael Bills to the new job came as some 4,500 troops from the 1st Cavalry Division's 1st Armored Brigade Combat Team are preparing to deploy to South Korea early next year as part of a regular rotation of forces. The troops will replace the 2nd Armored Brigade Combat Team that was deployed in Ju
DefenseDec. 16, 2015
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Foreigners turn to net sellers of Korean stocks in Nov.
Foreign investors turned to net sellers of local stocks in November amid rising global uncertainties stemming from an imminent U.S. rate hike and a slowdown in the Chinese economy, the financial watchdog said Wednesday. Offshore investors sold a net 1.17 trillion won ($989.4 million) worth of local stocks last month, shifting from 584 billion won in net buying the previous month, according to the Financial Supervisory Service. They had shifted into a net-buying position in September, when the
Dec. 16, 2015
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Pyongyang puts off party congress till Oct. 10
North Korea has postponed a major communist party congress until Oct. 10 next year, according to Pyongyang's state media Wednesday. During a report on leader Kim Jong-un's inspection of a catfish farm, the Korean Central News Agency said the 7th Congress of the Workers' Party will be held on Oct. 10. The KCNA said earlier the event, which would be the first of its kind in 36 years, would take place in early May. The reason for the delay is not yet known. (Yonhap)
North KoreaDec. 16, 2015
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Samsung to launch faster 128GB SD card for UHD contents
Samsung Electronics Co. said Wednesday it will roll out a new micro secure digital memory card with 128GB capacity that comes with a faster data transmission speed to handle Ultra HD video content. The South Korean tech giant, which released 32GB and 63GB editions of the PRO Plus SD cards in May. The data transmission speed stands at 90MB per second, which is around four times faster than other rival models, Samsung added. The company said the release came amid the booming popularity of UHD c
TechnologyDec. 16, 2015
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Hyundai, Kia log double-digit sales growth in Europe
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. logged double-digit sales growth in Europe last month, but their combined market share inched down, industry data showed Wednesday. According to the data by a local automotive association in Europe, the two South Korean carmakers sold a combined 66,517 vehicles there, up 10.7 percent from a year earlier. Hyundai Motor sold 35,897 units, up 12 percent from a year earlier, while Kia Motors logged 9.2 percent growth to 30,620 units.
IndustryDec. 16, 2015
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Seoul shares start higher ahead of imminent Fed rate hike
South Korean stocks got off to a strong start Wednesday on hopes that uncertainties tied to the U.S. rate hike will soon be eased. The benchmark Korea Composite Stock Price Index added 26.5 points, or 1.37 percent, to 1,959.47 in the first 15 minutes of trading. The Federal Open Market Committee kicked off its two-day meeting on Tuesday (U.S. time), which is expected to end the near-zero borrowing costs after nearly a decade. The results are to be available on Wednesday. On the back of expec
Dec. 16, 2015
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Korea's jobless rate stays pat at 3.1% in November
South Korea's unemployment rate stayed pat in November compared with the month before as gains in the manufacturing and hospitality sectors were offset by losses in the agrofisheries and retail segments, a government report showed Wednesday. According to the report by Statistics Korea, the rate stood at 3.1 percent last month, unchanged from October and the year before. The seasonally adjusted unemployment rate for last month reached 3.4 percent, also flat from the 3.4 percent figure tallied f
Dec. 16, 2015
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Business leaders, officials pledge family-friendly corporate culture
In tune with the government’s recent plan to tackle the nation’s record-low birthrate, business leaders said Tuesday that they would help firms create a family-friendly culture for their employees.“We share the view that the problem of marriage and births no longer belongs to individuals only, but is an urgent task that needs to be solved together with the government, businesses and individuals,” said representatives from South Korea’s five major business lobby groups in a declaration read durin
IndustryDec. 15, 2015
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S. Korea floats yuan-denominated FX stabilization bonds in China
South Korea finance ministry said Tuesday that it has successfully issued yuan-denominated foreign exchange stabilization bonds in the world's No. 2 market.The move comes after the People's Bank of China (PBOC) approved the issuing of upwards to 3 billion yuan (US$463 million) worth of bonds on Dec. 8.The sale marks the first time ever that a foreign government has floated yuan-based bonds in China."The sale took place at 5:30 p.m. Korea time with the bonds that mature in three years having an i
Dec. 15, 2015
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Former lawmaker arrested over accepting bribe
Prosecutors said Tuesday they have formally arrested a former lawmaker on charges of accepting a bribe in return for a business favor.The district court in the southeastern city of Daegu issued a warrant to arrest Sim Hag-bong, citing considerable reason to believe he committed the crime and concerns that he may try to flee or destroy evidence.Sim is accused of accepting 40 million won (US$34,000) from a company by arranging a public official so that the company could be selected in a government
Social AffairsDec. 15, 2015
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Park renews call for correct history education
President Park Geun-hye said Tuesday that history should be taught "correctly" for young South Koreans in what could be the latest move to advocate for state history textbooks."I think history achieved by our elders should be taught correctly in order for our country to leap forward," Park said during a luncheon she hosted for the elderly at Cheong Wa Dae, South Korea's presidential office.The invited guests included those who turned 100 this year, aged residents of foreign countries, and retire
Social AffairsDec. 15, 2015
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China still mum on N. Korean band's abrupt cancellation
China's foreign ministry on Tuesday remained tightlipped on the reason for the sudden cancellation of a concert in Beijing by an all-female band formed by the North's leader Kim Jong-un.North Korea's Moranbong Band had been scheduled to perform in Beijing last Saturday, but abruptly headed home hours before the concert began. China's official Xinhua News Agency attributed the cancellation to unspecified "communication issues." South Korea's intelligence agency told Rep. Joo Ho-young, head of the
North KoreaDec. 15, 2015
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Graduate job seekers to outnumber employment openings for next 10 years
A government report showed Tuesday that the number of university and college graduates will exceed demands in the job market by 792,000 from 2014 to 2024.According to a Labor Ministry report on job prospects by college degree, 3.02 million four-year university graduates and 1.72 million two-year college graduates are expected to enter the job market from 2014-2024. But the number of available jobs for them in that time will be roughly 2.69 million and 1.25 million, respectively.The report pointe
Social AffairsDec. 15, 2015
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More potential victims of humidifier disinfectants reported
Hundreds of more potential victims of toxic humidifier disinfectants were reported over the past month amid concerns over the government’s move to stop receiving health damage reports from next year, a civic group said Tuesday.The Asian Citizen’s Center for Environment and Health said a total of 310 potential victims made health complaints to the Environment Ministry to join the third round of the public health investigation into the humidifier disinfectant impacts. Of them, 38 were reported by
Social AffairsDec. 15, 2015
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Cheong Wa Dae urges Assembly speaker to push through bills
Cheong Wa Dae on Tuesday prodded the National Assembly speaker to exercise his authority to independently propose pending bills related to business regulations and counterterrorism that have been stuck in parliamentary committees. Hyun Ki-hwan, senior presidential secretary for political affairs, demanded Speaker Chung Ui-hwa put the overdue bills to the vote if the two main parties failed to resolve the deadlock over the contentious bills. Chung had refused to propose them by himself, except
Latest NewsDec. 15, 2015
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[SUPER RICH] The riches of chaebol scions
There is an old saying that a wealthy family loses all its fortune by the third generation. It is difficult to determine whether the saying holds true for the Korean chaebol, as many are still controlled by their second generation, with some not even setting the next succession process in motion. However, the third generation chaebol scions own incredible amounts of assets, usually in the form of stocks. The Superrich Team looked into the assets of third-generation descendants, including those i
IndustryDec. 15, 2015
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[Newsmaker] Ahn’s ‘new politics’ slogan fades out after NPAD exit
“New politics” is a catchphrase that has helped Ahn Cheol-soo become the political figure he is today.This vision for new politics was the reason voters welcomed Ahn with open arms in the 2012 presidential election campaigns, despite his total lack of political experience. It was also a title he clung to when merging with the opposition camp last year.But now that years have passed since his grand political debut, the information technology guru-turned-politician leaves crucial questions to obse
PoliticsDec. 15, 2015
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[Photo News] Starbucks awarded for job creation
AWARD FOR JOB CREATION -- Starbucks Coffee Korea CEO Lee Seock-koo (right) receives a government order of merit from Employment and Labor Minister Lee Ki-kweon for the company’s contribution to job creation on Tuesday in Seoul. The coffee shop operator hires an average of 10 staff members for every new store, all with a regular work contract instead of part-time. Starbucks Coffee Korea
IndustryDec. 15, 2015
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Ford’s Schuldt named new AMCHAM chief
John SchuldtThe American Chamber of Commerce in Korea on Tuesday named John Schuldt as the new president replacing incumbent Amy Jackson. Schuldt, who serves as the vice president and chief marketing officer at Ford Motor Korea, is currently the chairman of the golf committee and cochairman of auto committee of the business lobby group. He will start his term on Jan. 7 as a full-time AMCHAM executive, .“John comes to AMCHAM with a wealth of private sector experience that will serve him well in h
IndustryDec. 15, 2015
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‘Auto industry to still face challenges in 2016’
Hyundai Motor Group chairman Chung Mong-koo called for the conglomerate’s executives and employees to push ahead with changes next year despite challenges and difficulties facing the Korean automaker. “Economic indicators to gauge business conditions in advance show that the auto industry will continue to remain slow next year,” chairman Chung said in a meeting in Seoul with heads of overseas branches at Hyundai Motor on Tuesday. The car industry experienced difficulties due to a global economic
MobilityDec. 15, 2015