Most Popular
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Yoon warns North Korea against nuclear attack attempt
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Seoul mayor suggests shift in immigration policy
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AI textbook bubble could burst, expert warns
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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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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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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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Prosecution closes 'Dior bag' case amid opposition uproar
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Gov't to give SMEs more trade insurance discount to boost exports
The government said Wednesday that it will provide more trade insurance discounts to small and medium enterprises to help stimulate the country's falling exports.The Ministry of Trade, Industry and Energy said the insurance discount rate for SMEs will be raised from the current 30 percent to 50 percent. This, it said translates into some 17.5 billion won ($15.2 million) worth of indirect assistance being given to exporters on an annual basis.The announcement made at a meeting of trade-related mi
Nov. 11, 2015
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Uber joins hands with Kia for premium service relaunch in Seoul
Uber, the controversial ride-booking mobile app, will make a fresh start in Seoul with its high-end version to be serviced on a popular Korean-made luxury sedan, its U.S. operator said Wednesday, seeking to set foot here for the second time after the business hit a snag due to opposition from the local industry.Uber Technologies Inc. plans to relaunch UberBlack, the premium riding service, in South Korea by the end of the year, provided on the K9 model sold by the country's No. 2 carmaker Kia Mo
IndustryNov. 11, 2015
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Household debt grows at fastest pace in Oct.
Household loans extended by local lenders increased at the fastest clip last month, central bank data showed Wednesday, amid the rising possibility of a looming U.S. rate hike.Outstanding household loans extended by local banks reached 624.8 trillion won ($539.3 billion) as of the end of October, up 9 trillion won from the previous month, according to data from the Bank of Korea.The on-month gain is the largest-ever since January 2008 when the central bank started to compile related data, breaki
Nov. 11, 2015
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Korea's M2 money supply jumps at fastest pace in 5 years in Sept.
South Korea's M2 money supply grew at the fastest pace in five years in September due largely to ample liquidity amid a low interest rate trend, the central bank said Wednesday.The M2 reached 2,230 trillion won ($1.92 trillion) last month, marking a 9.4 percent growth from the same month last year and slightly speeding up from a 9.2 percent on-year gain in the previous month, according to the Bank of Korea.The September growth is the fastest pace since June 2010, when the figure hit 9.7 percent.
Nov. 11, 2015
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Volkswagen, Nissan, Mercedes-Benz, Maserati to recall 28,197 cars in Korea
Volkswagen, Nissan, Mercedes-Benz and Maserati will recall 28,197 cars sold in South Korea for safety-related mechanical defects, the transportation ministry said Wednesday.According to the Ministry of Land, Infrastructure and Transport, a combined 27,811 Passats, CCs, Jettas, Tiguans and three other models made by the German auto giant Volkswagen have problems with their clock springs that can lead to a malfunction in vehicle horns and cause air bag warning lights to light up.The spring is a co
MobilityNov. 11, 2015
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Gov't, ruling party to inject more than 200 bln won extra budget over drought
The government and the ruling Saenuri Party agreed Wednesday to inject an extra budget of more than 200 billion won ($180 million) to alleviate effects of the worst drought that has hit South Korea in more than a century.The budget will be used, among other things, to build irrigation pipelines to send water from the nation's four major rivers -- the Han, Nakdong, Geum and Yeongsan -- to drought-stricken areas."The measure is to make use of the four rivers to bring the water closer to the affect
PoliticsNov. 11, 2015
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At PyeongChang, bibimbap to get gourmet makeover
At first glance, Edward Kwon's "bibimbap" doesn't appear even remotely Korean. His take on the signature Korean dish, which typically mixes rice with vegetables, herbs and red pepper paste, is topped with a sesame tuile, a French-style baked wafer. Instead of plain rice, fried black rice and buckwheat nestle in a puddle of his special sauce combining "gochujang," the said red pepper paste, and mayonnaise.The dish is among 10 fusion recipes Kwon developed for the 2018 Winter Olympics, which will
Olympic GamesNov. 11, 2015
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North Korea-China trade on decline amid icy ties
Trade between North Korea and China has gone down in the first half, data showed Wednesday, due mainly to the weakening diplomatic ties between the two allies.North Korea's exports to China reached US$1.17 billion in the January-June period, down 10.6 percent from a year earlier, according to the data compiled by the Korea International Trade Association.Falling global prices of raw materials hurt the North's exports as well, the association said.The North's imports of Chinese goods also plunged
North KoreaNov. 11, 2015
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Grand Korea Leisure nixes bid for casino on Yeongjong Island
Grand Korea Leisure Co., South Korea's state-run casino operator, said Wednesday it will not apply for a casino resort on Yeongjong Island on worries Beijing's corruption crackdown could crimp demand from Chinese high rollers. The gaming unit of the Korea Tourism Organization aborted the plan after seeking a joint partnership to build an integrated resort on the western gateway island as Seoul is set to hand out two more casino licenses this year. The deadline is slated for Nov. 27."We have made
Social AffairsNov. 11, 2015
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Korea, Japan hold talks on 'comfort women'
South Korea and Japan began another round of talks Wednesday aimed at resolving the issue of Korean women forced into sexual servitude for Japanese soldiers during World War II.Japanese negotiator Kimihiro Ishikane refused to speak to reporters as he walked into the Foreign Ministry building for talks with his South Korean counterpart, Lee Sang-duk.Ishikane heads the Japanese foreign ministry's Asian and Oceanian affairs bureau.The working-level talks -- the 10th of its kind -- came amid skeptic
Foreign AffairsNov. 11, 2015
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Over 1,500 Koreans join class-action suit against Volkswagen
More than 1,500 owners of Volkswagen vehicles in South Korea are participating in a class-action lawsuit against the German auto giant, demanding the cancellation of their purchases and full refunds, industry sources said Wednesday.According to the sources, a total of 1,536 customers of Volkswagen and its luxury brand Audi joined the collective lawsuit filed with a Seoul court against the German carmaker, its local units and dealerships as of Friday.The number of people suing Volkswagen has been
IndustryNov. 11, 2015
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LG Electronics rolls out white color edition of G4
South Korean handset maker LG Electronics Inc. said Wednesday it has added a white color edition to its flagship G4 smartphones series in the latest effort to bolster sales amid the ailing handset business.The South Korean smartphone manufacturer said the new version of the G4 comes with a white cover with gold edges, adding it will appeal to female and younger consumers.The slightly curved G4 has a 5.5-inch in-plane switching (IPS) QHD display. It has a 16-megapixel camera whose performance is
TechnologyNov. 11, 2015
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Samsung, LG win int'l awards for key products
Samsung Electronics Co. and LG Electronics Inc., South Korea's top two tech firms, said Wednesday that they have garnered international awards for some of their latest home appliances, mobile devices and memory chips.Samsung won the Best of Innovation award for a total of 38 products, including the most recently released Galaxy S6 Edge Plus smartphone and the Samsung Gear S2 smartwatch. The titles were awarded by the U.S. Consumer Technology Association (CTA). The winner of the innovation awards
TechnologyNov. 11, 2015
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Korean plane flies back due to heavy smog in China
A passenger jet of a South Korean low-cost carrier bound for China's northeastern city of Harbin has flown back home due to the record heavy smog in China, the company said Wednesday.The ZE861 plane of Eastar Jet Co., carrying 144 passengers, took off at 2:50 p.m. on Tuesday but returned to Cheongju International Airport at 9:40 p.m. on the same day. "The smog near the airport in Harbin was so heavy that the plane could not make a landing," a company official said. "The plane made a temporary la
Nov. 11, 2015
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Seoul shares open higher after 4-day drops
South Korean stocks started higher on Wednesday following marked setbacks in recent days caused by worries over a rate hike in the U.S., analysts said.The benchmark Korea Composite Stock Price Index gained 2.79 points, or 0.14 percent, to 1,999.38 in the first 15 minutes of trading.The index bounced back from a 1.44 percent decline on Tuesday amid expectations that the Fed would raise its near-zero interest rate as early as December following recent strong labor market data.Tech bellwether Samsu
Nov. 11, 2015
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Hyundai Motor heir apparent raises company stake
Hyundai Motor Co. Vice Chairman Chung Eui-sun bought an additional stake in the country's leading automaker on Tuesday as part of efforts to tighten his grip on the company and protect shareholders' value, the company said.Chung, the son of Hyundai Motor Group Chairman Chung Mong-koo, spent nearly 300 billion won ($259.3 million) in purchasing around 1.84 million shares, or 0.84 percent, in Hyundai Motor from Hyundai Samho Heavy Industries Co.The purchase was made during after-hour trading and C
MobilityNov. 11, 2015
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Amb. Sung Kim: U.S. 'happy to meet' with North Korean 'anytime, anywhere'
The United States would be happy to meet with North Korea "anytime, anywhere" if the communist nation is ready to talk about giving up its nuclear program, Washington's chief envoy for the nuclear issue said Tuesday.Amb. Sung Kim, special representative for North Korea policy, said, however, during a Wilson Center discussion that the U.S. has seen no signs of willingness to hold such meaningful negotiations that would lead to concrete, irreversible denuclearization steps."I think for us it's pre
North KoreaNov. 11, 2015
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Hyundai Motor not to hike EQ900 prices just due to brand change: official
South Korea's leading automaker Hyundai Motor Co. will not raise the prices of its first Genesis model much just because of the recently announced brand change, a high-ranking company official has said. The EQ900, the top-of-the-line model of six Genesis models to be developed, will be officially launched Dec. 9 in the domestic market, the vice president-level official said. Its overseas edition, the G90, will be introduced early next year."We will not raise the prices of the EQ900 significantly
MobilityNov. 11, 2015
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Korea's jobless rate dips to 3.1% in October
South Korea's jobless rate fell in October as more people were hired in the manufacturing, and facility management and business support service sectors, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 3.1 percent last month, down from 3.2 percent in September. The jobless rate was also down 0.1 percentage point on-year, the first time since November 2013 that the number fell from a year earlier.The seasonally adjusted jobless rate for O
Nov. 11, 2015
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Korean web portals seek dual tactics for webtoon biz overseas
Gumiho, a nine-tailed, seductive vixen from South Korea's traditional horror tales, may soon make her international debut online in the 21st century. She will likely join Captain America, the Hulk and Iron Man in the official Marvel Heroes lineup, thanks to her appearance as White Fox in the "Avengers: Electric Rain," a webtoon series co-created by the Walt Disney Company and South Korea's No. 2 Internet portal provider Kakao Corp.Naver Corp., the operator of the country's top Internet search en
IndustryNov. 11, 2015