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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AI textbook bubble could burst, expert warns
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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Man calls 119, found dead 1 week later because officials went to wrong place
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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Samsung tightens its belt amid crisis winds
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Hanwha supports college start-ups
Hanwha Group announced Wednesday the launch of the Hanwha Membership Program to foster and support those who wish to operate a global start-up or work as single-person content creators.The program is intended to combine Hanwha’s global talent fostering program with entrepreneurially minded Korean college students and foreign exchange students who wish to work abroad (particularly in China) and innovative ideas across a variety of interests. The program does not put a limit on the students’ age o
IndustryNov. 26, 2015
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Asiana's support for Chinese children
Executives and officials from Asiana Airlines pose with Indian schoolchildren after attending a charity event Wednesday to support poor children in New Delhi, India. (Asiana Airlines)
IndustryNov. 26, 2015
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U.S. rate hike will not guarantee rise in Korea's rate: board member
South Korea's central bank may not immediately raise its policy rate following an imminent U.S. rate hike, a member of the monetary policy board of the Bank of Korea said Thursday, calling the U.S. rate hike only one of many elements that need to be considered before such a decision. "While the monetary policy board makes a decision on the key rate, policy rates of other major countries certainly are an element that need to be considered, but the most important element still is local economic c
Nov. 26, 2015
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Tongyang ordered to compensate investors for issuing nonperforming debts
A Seoul court on Thursday ordered a local securities firm to compensate its investors for deceiving them into buying fraudulent corporate bonds and commercial papers. The Seoul Central District Court said Tongyang Securities Co. is to compensate six plaintiffs, out of 19 in total, amounts ranging from some 1.7 million won ($1,560) to 25 million won each. The company failed in the first round of restructuring on Aug. 20, 2013 but issued corporate bonds and recommended investment about a week l
IndustryNov. 26, 2015
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South, North Korean students divided over unification: survey
South and North Korean college students have divergent views on reunification, a survey showed Thursday. A majority of South Korean students disapprove of unification if it would have a negative impact on the economy, while those from the North support it, according to the poll conducted by a group of young adults, which calls itself "Story K." From Nov. 1-7, it interviewed 257 South Korean college students and 180 others who defected from the North. Asked if they believe an early unification
North KoreaNov. 26, 2015
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Air Force introduces 3-D printing in maintenance of fighter jets
The Air Force has introduced three-dimensional printing in its production of engine components for fighter jets which helps cut budget and time on maintenance, it said Thursday. So far this year, 14 of the Air Force's F- 15K fighter jets have been repaired with 3-D printed high-pressure turbine shrouds, an engine component, according to the Air Force. The engine part originally costs 40 million won ($34,900) per unit and takes about 60 days to procure from abroad, With the introduction of the
DefenseNov. 26, 2015
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Seoul shares jump 1.06% on bargain hunting
South Korean stocks surged 1.06 percent on Thursday as investors hunted for bargains amid a brighter outlook of their earnings. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 21.26 points to 2,030.68. Trading volume was moderate at 445.9 million shares worth 4.35 trillion won ($3.81 billion), with gainers outpacing losers 518 to 298. Analysts said Seoul shares gained ground as investors loaded up on undervalued blue chips amid eased uncerta
Nov. 26, 2015
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Korea bans travel to parts of Philippines
South Korea has imposed a travel ban on some areas of the Philippines following a series of violent crimes against its nationals there, the Foreign Ministry said Thursday. Starting next Tuesday, South Koreans will be banned from visiting or residing in four regions of the southern island of Mindanao -- Zamboanga, Sulu, Basilan and Tawi-Tawi, the ministry said in a statement. The decision comes after a South Korean man in his 70s was found dead last month after being kidnapped by Muslim militan
InternationalNov. 26, 2015
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Park bids farewell to late President Kim
President Park Geun-hye bade farewell to former President Kim Young-sam on Thursday ahead of the state funeral at the National Assembly. She met with Kim's son and offered her sympathy at Seoul National University Hospital. Kim's son expressed thanks to Park for caring for the funeral. Park later watched the hearse carrying Kim's body depart to the National Assembly and bowed her head slightly. Still, she did not attend the state funeral on the grounds of the National Assembly in freezing te
PoliticsNov. 26, 2015
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Woori celebrates 200th overseas branch opening
Woori Bank celebrated the opening of 200th overseas branch on Thursday, widening the scope of Korean financial industries on the foreign soil. “The opening of 200th global branch is the fruit of Woori’s successful adaptation to financial environments of different countries,” Woori Bank president Lee Kwang-goo said at a launching ceremony in Seoul for the new branch in Myanmar. The ceremony was attended by Financial Services Commission chairman Yim Jong-yong, Korea Deposit Insurance Corp. presid
Nov. 26, 2015
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Foreign carmakers keep rosy sales outlook
Despite the setback due to Volkswagen’s emissions-rigging scandal and local protests against Mercedes-Benz and BMW for alleged malfunctions, foreign automakers here remain upbeat on future sales, a group of imported car brands suggested Wednesday. “We expect to sell 235,000 units of imported cars this year, and forecast a growth of 8.5 percent at 255,000 next year,” said Yoon Dae-sung, executive managing director of the Korea Automobile Importers & Distributors Association, at a press conference
MobilityNov. 26, 2015
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Korea opens exhibition to promote creative economy
South Korea kicked off a four-day exhibition Thursday to promote the country's creative economy policies, inviting local firms to share their achievements in the technology realm. The creative economy refers to President Park Geun-hye's flagship policy that aims to merge different industrial sectors, mostly with information and communications technologies, to generate new business opportunities and foster the growth of startups. "The creative economy became a symbolic policy of South Korea to
Nov. 26, 2015
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Sales rise at department stores but down at discount outlets in Oct.
Sales at major department stores here rose in October amid a nationwide sales event, but major discount outlet chains suffered a slight drop in sales, government data showed Thursday. The combined sales of three major department store chains -- Hyundai, Lotte and Shinsegae -- surged 11.4 percent from a year earlier last month, according to the data compiled by the Ministry of Trade, Industry and Energy. The large on-year gain was partly attributed to the government-initiated spending promotio
IndustryNov. 26, 2015
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Seoul shares up 0.91% in late morning trade
South Korean stocks traded 0.91 percent higher late Thursday morning as investors went bargain hunting after the previous session's fall. The benchmark Korea Composite Stock Price Index added 18.34 points to 2,027.76 as of 11:20 a.m. Market behemoth Samsung Electronics added 2.16 percent, and SK hynix moved up 5.02 percent. LG Display climbed 0.8 percent. Mobile carriers were mixed, with SK Telecom advancing 0.43 percent to 232,500 won while KT fell 0.34 percent. LG Uplus climbed 0.47 percent
Nov. 26, 2015
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Tonymoly to open cosmetics factory in China
South Korean cosmetics maker Tonymoly said Thursday it will invest $25 million to build a production line in China. The factory will be built in the eastern province of Zheziang next year and start mass production in 2017 to better reach Chinese customers. "The facility will improve the price competitiveness of our cosmetic products," the company said in a regulatory filing. Tonymoly has made an aggressive foray into China since its first launch last year, operating about 40 shops in major
IndustryNov. 26, 2015
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Korea confirms VW emissions rigging, suspends sales
The government Thursday confirmed that Volkswagen used software to manipulate emissions levels in cars sold in Korea and ordered a recall of over 120,000 vehicles, a decision expected to lead to more lawsuits from local customers.The Environment Ministry said it found the defeat device software working in the Volkswagen Tiguan Euro 5 equipped with the EA189 engine. The device turned on the exhaust gas recirculation system in the indoor test to fake the emissions levels and turned off the system
Nov. 26, 2015
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Ex-foreign minister questions Korea's efforts to improve ties with Japan
South Korea should reflect on whether it has done enough to improve its stormy ties with Japan, a former South Korean foreign minister said Thursday. Yu Myung-hwan, who served as Seoul's top diplomat from 2008-2010 under the previous Lee Myung-bak administration, made the remark during a symposium on South Korea-Japan ties, which mark the 50th anniversary of normalization this year. Relations between the two countries, however, have been strained due to disputes over issues stemming from Japan
InternationalNov. 26, 2015
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More Koreans burdened by social security outlays: poll
More South Koreans are feeling the pinch of rising social security outlays as the country moves to expand its welfare infrastructure, a nationwide poll showed Thursday. The 2015 society trend survey on 39,000 people across the country in May revealed that 65.6 percent of respondents said outlays for health are becoming a burden, while 63.9 percent of them said the same thing about national pension premiums. These numbers are up from 64.9 percent and 62.3 percent, respectively, from the year be
Social AffairsNov. 26, 2015
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Bank lending rates on household loans drop in Oct.
Bank lending rates on new household loans sank in October, central bank data showed Thursday, while local banks offered more on new deposits ahead of a possible U.S. rate hike. The average rate for new loans to households slipped 0.05 percentage point from the previous month to 3.06 percent in October, according to the Bank of Korea. October marked the fifth-consecutive month of decline since June, when the central bank announced a surprising rate cut, sending its policy rate to a record low
IndustryNov. 26, 2015
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Manufacturing, mining sector shipments dip in 2014: report
South Korea's manufacturing and mining industry shipments contracted in 2014 mainly due to minus growth in the electronics and refined petroleum sectors, a government report showed Thursday. Statistics Korea said total shipments by companies with more than 10 employees topped 1,490 trillion won ($1.3 trillion), down 0.3 percent, or 4.4 trillion won, from the year before. The decrease is attributable to a 4.6-percent on-year drop in electronics and a 4.4-percent decrease in shipments from local
IndustryNov. 26, 2015