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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[Robert B. Reich] The perils of circus politics
The next president of the United States will confront a virulent jihadist threat, mounting effects of climate change and an economy becoming ever more unequal.We’re going to need an especially wise and able leader.Yet our process for choosing that person is a circus, and several leading candidates are clowns.How have we come to this?First, anyone with enough ego and money can now run for president.This wasn’t always the case. Political parties used to sift through possible candidates and winnow
ViewpointsNov. 22, 2015
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Korea's top nuclear envoy to visit Beijing
South Korea's chief nuclear envoy will visit Beijing this week for consultations on North Korea, the Foreign Ministry said Sunday amid signs that Pyongyang-Beijing ties are improving. Hwang Joon-kook, special representative for Korean Peninsula peace and security affairs, plans to make a two-day trip there starting Tuesday. He will hold talks with Wu Dawei, China's point man on Korea, on current security situations on the peninsula, the ministry said. They are also expected to discuss ties be
DefenseNov. 22, 2015
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KAI signs deal to clinch Indonesian partnership in KF-X
Korea Aerospace Industries Ltd. signed a deal with Indonesia on Sunday, clinching the Southeast Asian country's partnership in a lavish local fighter jet development program. Under the preliminary contract, Indonesia will shoulder 20 percent, or 1.7 trillion won ($1.5 billion), of the program's 8.7 trillion-won cost to develop the advanced multi-role combat jet, according to the airplane manufacturer. The Korean Fighter Experimental program is designed to develop and mass-produce homegrown du
DefenseNov. 22, 2015
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KDB sells $220 mln of bonds in Australia
State-run Korea Development Bank said Sunday it has succeeded in selling $220 million worth of debt in the Australian bond market as part of pre-emptive efforts to secure liquidity ahead of a U.S. rate hike. The three-year Kangaroo bonds carry an interest rate equivalent to the Australian swap rate plus a risk premium of 1.03 percentage points, KDB said. Kangaroo bonds refer to debt denominated in Australian dollars and issued by non-residents in the Australian domestic market. The state lend
IndustryNov. 22, 2015
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Pyongyang warns of retaliation in case of attack
North Korea said Sunday it will retaliate "mercilessly" if the South fires at its waters in the Yellow Sea, five years after the North bombarded a South Korean island, killing two soldiers and two civilians. A spokesman for the North's southwestern military unit said South Korea is "scheming to attack North Korean waters again." "The South Korean belligerents have forgotten their lessons from the bombardment of Yeonpyeong Island five years ago," the spokesman said, according to the KCNA, the No
North KoreaNov. 22, 2015
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Hotel Lotte set to seek preliminary IPO review in Dec.
Hotel Lotte, a unit of South Korea's fifth-largest conglomerate Lotte Group, plans to submit an application next month for a preliminary regulatory review of its initial public offering, group officials said Sunday. The listing of Hotel Lotte is one of the reform pledges that Lotte Group Chairman Shin Dong-bin has made to assuage public disgust over a bitter family feud over control of the retail-focused conglomerate, which has sprawling businesses both in South Korea and Japan. "Preparations
IndustryNov. 22, 2015
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Korean economy to grow some 3% in 2016: economists
The South Korean economy is expected to expand around 3 percent in 2016 from this year unless external uncertainties worsen further, local economists predicted Sunday. In a survey conducted by Yonhap News Agency, the heads of six major economic think tanks forecast Asia's fourth-largest economy will grow moderately next year on the back of recovering domestic demand. Their prediction is slightly lower than the government's estimate. The finance ministry has predicted Asia's fourth-largest econ
Nov. 22, 2015
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Korea's beer imports surge to new annual high
South Korea's beer imports have climbed to a new annual high in just the first 10 months of the year, data showed Sunday, due to what market observers here called growing consumer exposure to foreign delicacies amid a continued surge in the number of people going abroad. In the January-October period, the country imported some $118 million worth of beer, already surpassing the annual total of 2014, when beer imports surged to a record high of $112 million, according to the data from the Korea I
IndustryNov. 22, 2015
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Kia Motors to recall 6,500 Soul hatchbacks to fix steering wheel issue
Kia Motors Corp., South Korea's second-largest automaker, will recall over 6,500 Soul box-type cars due to a problem in the steering system that could cause excessive noise and possible loss of steering, the transportation ministry said Sunday. According to the Ministry of Land, Infrastructure and Transport, a bolt securing the pinion gear to the steering gear may become loose due to improper application of adhesives during the manufacturers' assembly process, possibly causing loss of steering.
IndustryNov. 22, 2015
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Samsung SDI to supply batteries for China EV maker
Samsung SDI Co., the battery-making unit of Samsung Group, will supply batteries for a newly launched electric vehicle of China's JAC Motors Co., company officials said Sunday. On Friday, the Chinese auto manufacturer unveiled its new iEV6S electric car at the ongoing Guangzhou motor show set to end later Sunday. Under the supply deal, the South Korean company is expected to provide millions of units of small, circular battery cells each month that will power China's first electric vehicle tha
IndustryNov. 22, 2015
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Political parties praise former President Kim's efforts for democracy
Rival parties and political heavyweights expressed condolences over the death of former President Kim Young-sam on Sunday for his lifelong achievement that helped establish the country's democratization. Kim, who served as president from 1993-1998, died at Seoul National University Hospital, earlier in the day. He was 88. "It is such a big shock and sadness," said Kim Moo-sung, chairman of the ruling Saenuri Party, noting that he still remembers days of fighting for democracy along with Kim.
PoliticsNov. 22, 2015
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Korea to hold state funeral for ex-President Kim Young-sam
The government said Sunday it will hold a national funeral for former President Kim Young-sam, who passed away earlier Sunday. Kim, who served as president from 1993-1998, was an iconic figure in South Korea's pro-democracy movement. He fought against military rulers for decades and laid the groundwork for a peaceful power transition in a country rife with military coups. He was 88. The Ministry of Interior said it has agreed with the bereaved families to hold a ceremony at the National Cemete
PoliticsNov. 22, 2015
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Operating profit of listed firms forecast to jump 16% in 2016
South Korea's listed companies are expected to see their 2016 operating profit increase more than 16 percent in 2016 on the back of improving external conditions, a market tracker said Sunday. The combined operating profit of 236 major companies trading on the country's main and secondary stock markets is projected to reach 135.1 trillion won ($117 billion) next year, up 16.1 percent from this year's estimate, according to FnGuide, which provides financial information. Their total sales are li
IndustryNov. 22, 2015
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Biz world lauds late President Kim's economic reform efforts
South Korea's business communities mourned the death of former President Kim Young-sam on Sunday, vowing to continue what they called his legacy of economic reforms that they said helped eradicate corruption. "Former President Kim greatly contributed to the country's fight against corruption, as well as its move toward a more transparent society, by introducing the real-name financial transaction system and the asset disclosure system for public officials," the Federation of Korean Industries
IndustryNov. 22, 2015
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New wave of layoffs to hit Korean financial sector
South Korea's financial industry is likely to undergo a fresh wave of layoffs down the road as companies are poised to restructure operations and adopt a new wage system, industry sources said Sunday. Standard Chartered Korea has announced a massive voluntary retirement program, with local banks and non-bank financial institutions set to cut jobs following their massive layoffs over the two years. In 2013 and 2014, financial companies in Asia's fourth-largest economy eliminated a combined 8,40
IndustryNov. 22, 2015
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Park meets with leaders on regional and global challenges
President Park Geun-hye began talks Sunday with more than a dozen leaders on regional and global challenges amid worries about terrorism and territorial disputes in the South China Sea. Park plans to ask for cooperation from the leaders of the East Asia Summit to help resolve the dispute over North Korea's nuclear program, Cheong Wa Dae, South Korea's presidential office, said ahead of the meeting in Malaysia. The annual summit is meant to discuss regional and international strategic issues. I
InternationalNov. 22, 2015
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Korea's beer imports surge to new annual high
South Korea's beer imports have climbed to a new annual high in just the first 10 months of the year, data showed Sunday, due to what market observers here called growing consumer exposure to foreign delicacies amid a continued surge in the number of people going abroad. In the January-October period, the country imported some $118 million worth of beer, already surpassing the annual total of 2014, when beer imports surged to a record high of $112 million, according to the data from the Korea I
IndustryNov. 22, 2015
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Hyundai, Kia top Chile's list of best-selling cars in Oct.
South Korean auto giant Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. became the two best-sellers in Chile last month, surpassing their long U.S. rival Chevrolet, data showed Sunday. According to the data from Chile's auto association ANAC, Hyundai Motor sold 2,353 vehicles in October to top the list of best-selling brands in Chile, closely followed by Kia with 2,306 cars. It marked the first time both the South Korean automakers outperformed Chevrolet in monthly sales in the Ch
IndustryNov. 22, 2015
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U.N. chief mourns death of ex-Korean President Kim Young-sam
U.N. Secretary-General Ban Ki-moon mourned the death of former South Korean President Kim Young-sam, crediting him for devoting himself to the country's democratization and carrying out bold reforms. "I cannot contain my sorrow after learning that former President Kim has passed away," Ban said in a Korean-language message released after his arrival in Malaysia for the East Asia Summit. "I pray for the soul of the deceased and express deep condolences to the bereaved family members." Ban said
PoliticsNov. 22, 2015
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U.N. chief remains mum on possible trip to Pyongyang
U.N. Secretary-General Ban Ki-moon kept silent on his possible trip to North Korea on Sunday, a move that could keep the world guessing about his intentions. Ban did not talk as he walked through the lobby of a hotel in Kuala Lumpur when asked by a Yonhap news reporter if he is willing to visit Pyongyang in December. Ban landed in the Malaysian capital Kuala Lumpur early Sunday to attend the East Asia Summit, an annual meeting meant to discuss regional and international strategic issues. It i
North KoreaNov. 22, 2015