Most Popular
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AI textbook bubble could burst, expert warns
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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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Prosecution closes 'Dior bag' case amid opposition uproar
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North Korean trash balloons cross border day after Seoul military parade
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SF Giants outfielder Lee Jung-hoo back home after injury-shortened rookie season
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Court confirms sentence for rapper who attempted to evade national service
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[Photo News] Armed Forces Day
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N. Korea may revoke 1991 Inter-Korean Basic Agreement in parliament: Seoul
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Korea's ODA to reach 0.2% of GNI in 2020
South Korea aims to gradually increase the amount of funds set aside for its official development assistance program to better meet its obligations to help developing economies, the government said Tuesday.The Committee for International Development Cooperation under the prime minister's office said the size of Seoul's ODA fund will be equal to 0.2 percent of its gross national income in 2020, up from around 0.13 in 2013."The 2020 goal takes into account the country's overall fiscal conditions a
Nov. 10, 2015
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Seoul shares dip 1.4% on Fed rate hike woes
South Korean stocks tumbled 1.44 percent Tuesday as investor sentiment worsened amid growing expectations for a rate hike in the United States following the latest brisk jobs data, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 29.11 points to 1,996.59, the lowest level since Oct. 6, when it dropped to 1990.65 points. Trading volume was light at 407.24 million shares worth 5.36 trillion won ($4.63 billion), with losers far su
Nov. 10, 2015
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Ruling party chief: North Korean regime's days are numbered
South Korea's ruling party chief has claimed North Korea may collapse in three years, a sensitive comment that could anger the communist country amid lingering tensions on the Korean Peninsula.Kim Moo-sung, chairman of the ruling Saenuri Party, said his argument is based on the notion that the Soviet Union collapsed 73 years after the Communists took power."It has become seven decades since Kim Il-sung regime took power. So three years are left," the ruling party chief said at a speech on Monday
North KoreaNov. 10, 2015
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Overseas investment up 17.1 in 9 months of 2015: data
South Korea's overseas direct investment surged more than 17 percent on-year in the first nine months of 2015 as more money was poured into financial and insurance operations, government data showed Tuesday.The country's overseas direct investment came to $27.05 billion in the January-September period, up 17.1 percent from the $23.11 billion posted for the same period last year, according to the data by the finance ministry."Investment in China was down due to a slowdown in the world's No. 2 eco
Nov. 10, 2015
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1 killed, 7 injured in fire at shipyard in southern Korea
A fire broke out inside a gas tanker being built in a shipyard in southeastern South Korea Tuesday, killing one worker and injuring seven others.The worker in his 50s died after inhaling toxic fumes. The seven workers were rushed to a nearby hospital for treatment.Fire officials suspect the fire was caused by a spark from a welder's torch inside the 85,000-ton tanker around 10:40 a.m. in the shipyard of Daewoo Shipbuilding & Marine Engineering Co. on Geoje Island.Police and fire officials said a
Social AffairsNov. 10, 2015
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Korea looking to extend winning streak vs. Myanmar in World Cup qualifier
South Korea will look to extend their winning streak when they host underdog Myanmar in a World Cup qualifier this week.The 48th-ranked South Korea will face the 161st-ranked Myanmar at Suwon World Cup Stadium in Suwon, Gyeonggi Province, at 8 p.m.Thursday. It will be South Korea's fifth match in Group G in the second round of the Asian qualification for the 2018 FIFA World Cup.Coached by Uli Stielike, South Korea have won their first four matches over Myanmar, Laos, Lebanon and Kuwait, scoring
SoccerNov. 10, 2015
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Creditors set to pump 4.2 tn won into ailing Daewoo Shipbuilding
Creditors of a loss-making shipbuilder are set to provide 4.2 trillion won ($3.63 billion) in financial aid to the financially shaky firm in their latest bid to salvage it, industry sources said Tuesday.According to the sources, the creditors, led by state-run Korea Development Bank, and Daewoo Shipbuilding & Marine Engineering Co. signed a memorandum of understanding on Monday to push ahead with large-scale restructuring and financial assistance.Daewoo Shipbuilding has suffered a more than 4 tr
IndustryNov. 10, 2015
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Korean lawmakers begin 4-day visit to China
A bipartisan South Korean parliamentary delegation arrived in Beijing on Tuesday for a visit expected to focus on further improving relations between the two nations, a Seoul diplomat said. The 10-member delegation, led by Rep. Suh Chung-won of the ruling Saenuri Party, plans to meet with Liu Yunshan, the fifth-ranked leader of the Chinese Communist Party hierarchy, during the four-day trip. Liu held talks with North Korea's supreme leader Kim Jong-un last month and attended a key anniversary of
Foreign AffairsNov. 10, 2015
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Korea's dollar deposits hit record high in Oct.
Foreign currency deposits at banks in South Korea gained in October from a month earlier for the first time in six months, with U.S. dollar-denominated savings reaching a record high, central bank data showed Tuesday.Outstanding foreign currency deposits held by local residents came to $63.4 billion as of the end of last month, up $4.21 billion from a month earlier, snapping its five-consecutive month losing streak, according to data by the Bank of Korea.The October figure also marked the larges
Nov. 10, 2015
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Korea, Japan to hold talks on 'comfort women'
South Korea announced Tuesday it will hold talks with Japan on one of the thorniest bilateral issues: Korean women forced to serve as sex slaves for Japanese troops during World War II.The working-level meeting will open in Seoul on Wednesday, according to the Foreign Ministry. The two sides have held nine rounds of relevant negotiations since April last year.The 10th round will fall just days after the first summit between President Park Geun-hye and Prime Minister Shinzo Abe in Seoul.They agre
Foreign AffairsNov. 10, 2015
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Park calls for quick resolution of sex slavery issue
President Park Geun-hye instructed officials Tuesday to quickly resolve the issue of former South Korean sex slaves for Japan's World War II soldiers.Park made the comment at a regular Cabinet meeting. Over a week ago, she met with Japanese Prime Minister Shinzo Abe in Seoul, and they agreed to accelerate negotiations to resolve the issue.South Korea and Japan have failed to produce any significant progress in their working-level talks on the issue. It remains unclear if the latest agreement wil
PoliticsNov. 10, 2015
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North Korea sees need to identify fate of separated families: Seoul official
South Korea's top pointman on unification said Tuesday that North Korea shares the need to identify the fate of families separated by the 1950-53 Korean War, though it has yet to push for a new round of family reunions.Unification Minister Hong Yong-pyo said that about half of some 66,000 South Koreans separated from their families have expressed a wish to confirm the fate of their relatives living in the North."The North also shares the need to identify whether their separated family members ar
North KoreaNov. 10, 2015
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Korea to boost ties with post-election Myanmar
South Korea expressed hope Tuesday for improved ties with Myanmar, lauding its peaceful general elections over the weekend.In a statement, the Foreign Ministry noted that the Sunday polls were staged in a "peaceful and orderly" manner with the active participation of local people.It described the general elections as a "historic milestone" in the development of the nation's democracy."Our government expects the Myanmar government to continue reform, opening and national development on the basis
Foreign AffairsNov. 10, 2015
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Seoul shares down in late-morning trade on U.S. rate woes
South Korean stocks traded 0.95 percent lower late Tuesday morning as investors remained concerned over a possible U.S. rate hike.The benchmark Korea Composite Stock Price Indexshed 19.32 points to 2,006.38 as of 11:20 a.m.Tech shares continued to lose ground, with market behemoth Samsung Electronics falling 0.74 percent and leading chipmaker SK hynix losing 0.48 percent. Top steelmaker POSCO shed 1.97 percent, and Korea Zinc shed 0.65 percent. No. 2 steelmaker Hyundai Steel plunged 1.36 percent
Nov. 10, 2015
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Domestic demand fueling growth momentum amid weak exports
Rising domestic demand in South Korea is stimulating industrial output and fueling growth momentum amid contracting exports and persistent overseas economic uncertainties, the finance ministry said Tuesday.In its latest economic assessment report called the Green Book, the ministry said consumer spending rose 1.1 percent in the third quarter from three months earlier and gained 2 percent on-year. In August, private spending began to improve following a poor showing in the second quarter.Producti
Nov. 10, 2015
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Korea names new envoy for global security ties
South Korea has appointed Paik Ji-ah, an envoy to the United Nations, as its new ambassador for international security affairs, the Foreign Ministry announced Tuesday.Paik will handle the country's international coordination largely in efforts to fight terror and promote cyber security.She joined the ministry in 1985 and has worked in Thailand and Malaysia. She has also served as deputy permanent representative to the South Korean mission to the U.N. in New York from 2013.Her predecessor Choi Su
PoliticsNov. 10, 2015
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Hyundai Motor unveils 1st Genesis model in media preview
Hyundai Motor Co., South Korea's largest automaker, unveiled rendered images and other details of the EQ900 on Tuesday, the first model under its new global brand name of Genesis that will officially be launched next month.The EQ900 is also the latest edition of Hyundai Motor's Equus flagship luxury model, which was consolidated with the Genesis brand, and the top-of-the-line of six models to be launched under the Genesis brand in the years to come. It was unveiled in Hwaseong, south of Seoul, w
MobilityNov. 10, 2015
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Chief of Korea military nurse academy awarded U.S. order of merit
The chief of South Korea's Armed Forces Nursing Academy has been awarded an order of merit from the U.S. for her contributions to expanded bilateral relations in the military medical sector, the academy said Tuesday.The U.S. Army Medical Command conferred the Order of Military Medical Merit also known as O2M3, to Brig. Gen. Choi Kyung-hye, the superintendent of the local nursing academy, during her visit to the U.S. in July.The award was in recognition of Choi's contributions to the development
Social AffairsNov. 10, 2015
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U.S. advised to be alert for North Korea's signals of willingness for engagement: expert
North Korea could send signals of willingness to re-engage the United States as the communist nation appears to have realized that all of its diplomatic efforts to break out of isolation have failed, a former senior American diplomat said Monday.Stapleton Roy, who served as ambassador to Beijing, made the remark during a Wilson Center discussion, citing "a prominent former" Chinese official he met when he visited China as a member of the National Committee on American Foreign Policy delegation."
North KoreaNov. 10, 2015
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LG Electronics wins 7 best product honors in U.S.
South Korean home appliances giant LG Electronics Inc. said Tuesday seven of its products have won this year's awards for the best performances from a U.S. reviewer.The company said its products, including an organic light-emitting diodeTV and a washing machine, won the "Best of Year" title from Reviewed.com, a consumer product analyst.Reviewed.com said the LG 65EF9500 OLED TV boasts outstanding resolution despite the relatively high sales price of around $5,000, along with a design "that stands
IndustryNov. 10, 2015