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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North Korean trash balloons cross border day after Seoul military parade
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Prosecution closes 'Dior bag' case amid opposition uproar
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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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[Kim Seong-kon] Understanding uniquely American things
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Korea seeking to expand investment in Uzbekistan
South Korea is seeking to expand investment in Uzbekistan as the Central Asian country moves to privatize state-run enterprises, the government said Wednesday. According to the Ministry of Trade, Industry and Energy, a delegation of government officials and businessmen will visit Tashkent on Friday to take part in an international investment forum. The forum will outline Uzbekistan's effort to privatize 68 state-run enterprises in the chemical, oil and gas and electricity fields. Foreign comp
Nov. 4, 2015
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NCsoft's net more than halves in Q3
NCsoft Corp., South Korea's leading online game developer, said Wednesday its third-quarter net profit tumbled nearly 60 percent from a year earlier due mainly to weak sales from its flagship products amid a lack of fresh titles. Net income amounted to 30.6 billion won ($27.1 million) in the July-September period, down 59.5 percent from 75.7 billion won the previous year, the company said in a regulatory filing. Operating profit came to 50.5 billion won, down 37.8 percent from a year ago, wi
IndustryNov. 4, 2015
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Seoul shares open higher on chemical gains
South Korean stocks started higher Wednesday as petrochemicals rallied on the back of a rise in crude oil prices. The benchmark Korea Composite Stock Price Index added 4.28 points, or 0.21 percent, to 2,052.68 in the first 15 minutes of trading. Refiners were up as crude oil prices rose about 4 percent as a rally in U.S. gasoline and diesel added support to oil markets. Top refiner SK Innovation increased 2.13 percent and No. 3 S-Oil surged 1.59 percent. SK, the de facto holding firm
Nov. 4, 2015
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Daewoo Shipbuilding to sell office building as part of restructuring
Daewoo Shipbuilding & Marine Engineering Co. is moving to sell its main office building in Seoul as part of restructuring efforts to stay afloat, company officials said Wednesday. The officials said three companies have already submitted closed bids to take over the building located in downtown Seoul, estimated to be worth between 170 billion won and 180 billion won ($150 million-$159 million). "The company will name a multiple number of preferred bidders this weekend at the earliest and by ea
IndustryNov. 4, 2015
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SMEs' production index jumps in Sept.
Growth in a key measure of production by South Korean small and medium enterprises hit a yearly high in September, a think tank said Wednesday, in a sign that they are on a recovery track amid signs of improving domestic demand. The output index covering 3,169 local SMEs reached 119.3 in September, up 2 points from a month earlier, according to the IBK Economic Research Institute affiliated with the state-run Industrial Bank of Korea. It is the largest monthly gain in nine months. Since it hi
IndustryNov. 4, 2015
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Global TV market to shrink further in coming years: report
Growth of the global TV market is forecast to further slow in the coming years on falling demand for liquid crystal display TVs, with local TV makers scrambling to beef up their premium lineups in a bid to secure profit, a report said Wednesday. Global TV sales are estimated to reach US$97.1 billion at the end of this year, down from $99.5 billion a year earlier, according to the latest report by market tracker IHS. Its global shipments had amounted to as high as $117.8 billion in 2010, befor
IndustryNov. 4, 2015
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Guidelines issued on sex discrimination in hiring
The South Korean government said Tuesday that it would send major companies guidelines on how to prevent sexual discrimination in the hiring processes in response to criticism over the lack of efforts to monitor and discipline workplaces against such violations. The Ministry of Employment and Labor said it would introduce a set of discrimination rules to 2,186 conglomerates and 82 major franchises to encourage them to root out sexual discrimination in the hiring process and at workplaces. While
Social AffairsNov. 3, 2015
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Buddhists from two Koreas meet in North
Buddhist leaders of the two Koreas gathered in the North Korean border town of Kaesong, joining voices for reconciliation and peaceful reunification.The representatives from South Korea's Cheontae Order and the North's Buddhist federation held a joint ceremony in Kaeseong to commemorate the 10th anniversary of the reconstruction of Ryongtong Temple.Believed to have been the first Cheontae temple in Korea, Ryongtong Temple was destroyed by fire in the 16th century and damaged further by the 1950-
North KoreaNov. 3, 2015
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[Newsmaker] Mystery surround Russian plane crash
Rescue workers investigate at the crash site of the Russian passenger airplane which crashed at the Hassana area in Arish city, north Egypt, on November 1, 2015. Egyptian and international investigators on Sunday have begun probing the reasons of the Russian plane that crashed in Egypt`s Sinai peninsula on Saturday which killed all 224 on board. (Xinhua/Ahmed Gomaa)/YonhapST. PETERSBURG, Russia (AP) ― Mystery and confusion surrounded the final moments of a Russian jetliner that plummeted suddenl
World NewsNov. 3, 2015
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A recap of Lotte founding family feud
Lotte Group chairman Shin Dong-binYonhap SDJ Corporation chairman Shin Dong-jooYonhap Lotte Group founder Shin Kyuk-hoYonhapMonday marked the 100th day of the internal feud at Lotte Group’s founding Shin family. And yes, by now we are sick and tired of the story where the eldest son and the father are attacking the second for dethroning them from the helm.But with their dispute now in court ― former Lotte Holdings vice chairman Shin Dong-joo filed an injunction against Lotte Shopping management
IndustryNov. 3, 2015
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Korean pharma firms set to tap halal market
Eyeing the vast market potential of the world’s burgeoning Muslim community, South Korea’s pharmaceutical companies are seeking halal certification for their drugs to diversify and ramp-up their market share. Halal -- which means “permissible” in Arabic -- certification ensures that a given product strictly complies with Islamic dietary law through production, storage and delivery. Halal foods must be made without blood and exclude meat from carnivorous animals, including pigs, and animals not s
IndustryNov. 3, 2015
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Korea confirms state textbook plan
Prime Minister Hwang Kyo-ahn announced Tuesday that South Korea would officially reinstate government-issued history textbooks for secondary education from 2017, saying that the current system had failed after four years of implementation.“It is realistically impossible to author a correct history textbook under the current system. It is the government’s conclusion that the privately-authored system has failed,” Hwang said during a joint press conference with Education Minister Hwang Woo-yea at
Social AffairsNov. 3, 2015
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Korean adoptees struggle for records access
When Annie Kim was 15, she was convinced that popular Korean actress Lee Young-ae was her birth mother after watching the famous TV drama series “Dae Jang Geum.” The Korean adoptee would gaze at photographs of the actress, secretly hoping to meet her one day. Born in 1988 and adopted by a U.S. couple at age 1, Kim arrived in South Korea last year in hopes of finding her birth parents. Kim finally began her search in Korea as an adult, but the process was far from easy. A visit to the Korea Ado
Social AffairsNov. 3, 2015
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U.S. historian calls state textbook unworkable
A prominent U.S. expert on Korean history bashed the Seoul government’s plan to reinstate government-issued history textbooks, raising concerns that President Park Geun-hye is attempting to unify viewpoints on history.Calling the plan “unworkable, retrograde and stupid,” Bruce Cumings, a University of Chicago professor specializing in modern Korean and international history, said it was a reminder of her father, who ruled the country with an iron fist in the 1960s and ’70s. He said the plan also
Social AffairsNov. 3, 2015
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‘Superstar K7’ Top 5 lacking star power
The seventh season of Korea’s largest audition program “Superstar K” prepares to draw to a close, and the five remaining individual and team contestants are proving to be an interesting bunch. For starters, for a show whose namesake purpose is to discover a “superstar,” none of them could say for certain what gives them star appeal. The finalists of "Superstar K7" (Mnet)Speaking to the media at a press conference held at Mnet’s M Academy in Gangnam-gu, Seoul on Tuesday, the top five contestants
TelevisionNov. 3, 2015
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Trade dependency on China reaches all-time high
Korea is more dependent on trade with China than ever, which could aggravate concerns over the prolonged slowdown in its exports as China’s economic growth slows. According to Statistics Korea, trade volume with China accounted for 23.2 percent of South Korea’s total trade for the first nine months of the year, up 1.8 percentage points over the same period last year.Statistics Korea headquartersKorea’s trade with the world’s largest economy by purchasing power came to $168.8 billion during the J
Nov. 3, 2015
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Turkey marks republican anniversary
At its 92nd republic anniversary last week, Turkey drew on inspirations from the past to confront present and future challenges.The holiday, which falls on Oct. 29, marks the birth of a democratic, secular and constitutional Republic of Turkey, following the victorious war of independence (1919-23) that repelled the Allies of World War I. “The Republic of Turkey is a source of hope for not only its own citizens, but all the victims, oppressed, kin and brother communities in our region and the wo
Foreign AffairsNov. 3, 2015
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Nexon seeks spotlight at G-Star game show
This year’s exhibition at the largest game trade show G-Star 2015 to be held in Busan next week will be full of hands-on experiences, according to Korean game developer Nexon on Tuesday. At a media briefing in Seoul for a preview, Nexon said it would unveil a total of 15 new online and mobile games during the event to be held from Thursday through Sunday in the nation’s second-largest city. Lee Jeong-hun, vice president of the game company, delivers a speech at the preview session for the G-Star
TechnologyNov. 3, 2015
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Textbook OK sparks fiery protests
Political tensions intensified Tuesday as the main opposition New Politics Alliance for Democracy boycotted parliamentary sessions in protest against the government and the ruling party’s final decision to adopt state-authored textbooks. But the ruling Saenuri Party urged the NPAD to return to the National Assembly and focus on legislative works, denouncing the opposition for crippling the Assembly by preventing the legislature from passing pending bills that the ruling party said would boost th
PoliticsNov. 3, 2015