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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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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Ministry confirms irregularities in national soccer coach hiring
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AmorePacific in controversy over ‘inappropriate job interview question’
South Korean cosmetics giant AmorePacific Group has been embroiled in a controversy over political questions asked during job interviews.An anonymous interviewee, who recently failed the final interview for the firm’s internship with guaranteed employment, wrote online that he was asked to talk about his opinion on the government’s attempts to reintroduce state-authored history textbooks. The history textbook issue has become a particularly sensitive one in Korea with the progressives and conse
IndustryNov. 2, 2015
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[Jean Pisani-Ferry] Social benefits in the age of personalized services
When it comes to compensation, the company you work for often matters more than how good you are at what you do. In 2013, the average employee of Goldman Sachs, the investment bank, earned $383,000 -- much higher than what the best-performing employee in most firms can hope to take home. Pay differences across companies are considerable. Research by Jason Furman, U.S. President Barack Obama’s top economic adviser, and Peter Orszag, Obama’s former budget director, has found that rising pay differ
ViewpointsNov. 2, 2015
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Mah, Hwang win Daesan literary awards
Poet Mah Chong-gi (left) and novelist Hwang Jeong-eun, winners of the 2015 Daesan Literary Awards (Daesan Foundation)Poet Mah Chong-gi and novelist Hwang Jung-eun have been named this year’s awardees for the 23rd Daesan Literary Awards, Korea’s largest annual literary accolade.Mah’s collection of poems “42 Shades of Green,” which deals with different colors the speaker encounters during a train ride, and Hwang Jung-eun’s “Let Me Continue,” a story of persistence through life’s hardships for one’
BooksNov. 2, 2015
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Pianist Yundi flubs Seoul performance, angers local fans
Chinese piano prodigy Yundi Li’s recent Seoul performance has been making headlines -- not for an outstanding performance, but because of his tempo blunders and seemingly shameless attitude afterward. The 33-year-old pianist returned to Korea to play alongside the renowned Sydney Orchestra, which performed two shows on Oct. 30 and 31 at the Seoul Arts Center -- with Li performing as a soloist with the orchestra Friday and violinist Vadim Repin performing Saturday. Despite being referred to as a
PerformanceNov. 2, 2015
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Hyundai Motor's Oct. sales grow 6.3%
Hyundai Motor Co., South Korea's top automaker, said Monday that its October sales grew 6.3 percent on-year, driven by robust domestic demand. Hyundai Motor said in a press release that it sold a total of 458,375 vehicles in October, up from 431,087 units a year before. Domestic sales jumped 16.7 percent to 67,807 units and overseas shipments also gained 4.7 percent to 390,568 units. The Avante subcompact maintained the best-selling status among Hyundai Motor models in the domestic market, wi
IndustryNov. 2, 2015
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Kia Motors' Oct. sales soar 16.1%
Kia Motors Corp., South Korea's No. 2 automaker, said Monday that its sales jumped 16.1 percent in October from a year earlier on the popularity of its new models. Kia sold a total of 268,954 vehicles last month, compared with 231,706 units a year earlier, the company said in a regulatory filing. Domestic sales soared 25.9 percent to 46,605 units, and overseas shipments climbed 14.2 percent to 222,349 units. The growth in the sales was attributed to the popularity of the all-new Sportage SUV,
IndustryNov. 2, 2015
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Seoul shares close 0.28% higher on insurer, tech gains
South Korean stocks closed slightly higher Monday as investors scooped up companies opting for big stock buybacks and more dividends, with insurance and tech shares leading the gain. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 5.77 points, or 0.28 percent, to 2,035.24. Trading volume was slim at 357.97 million shares worth 3.77 trillion won ($3.3 billion), with losers outpacing winners 467 to 347. Analysts said slowing South Korea's e
Nov. 2, 2015
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GM Korea's sales up 2.2 % in Oct.
GM Korea Co., the local unit of U.S. carmaker General Motors Co., said Monday that its sales in October grew 2.2 percent from the previous year amid strong domestic demand. The carmaker's total sales for last month came to 54,671 units, up from 53,503 units posted a year earlier, the company said in a press release. Its domestic sales came to 14,675 units, up 8.6 percent from a year earlier, while overseas shipments stayed unchanged on-year at 39,996 units. The carmaker attributed strong
IndustryNov. 2, 2015
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Ssangyong Motor's Oct. sales soar 16.3%
Ssangyong Motor Co., the local unit of Indian auto conglomerate Mahindra & Mahindra Ltd., said Monday that its sales shot up 16.3 percent on-year in October as soaring sales at home helped offset plunging exports. Ssangyong Motor sold 13,359 units last month, up from the previous month's 11,490 units, the company said in a press release. The figures do not include complete knockdown kits that are assembled abroad. Overseas shipments nosedived 44.5 percent to 3,351 units over the cited perio
IndustryNov. 2, 2015
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Renault Samsung Oct. sales shrink 9.3%
Renault Samsung Motors Co., the local unit of French auto firm Renault S.A., said Monday that its October sales shrank 9.3 percent on-year mainly due to slumping demand in China. The automaker said in a press release that it sold a total of 19,935 units last month, down from the 21,980 units tallied a year earlier. Exports dropped 11.6 percent on-year to 12,924 units. The company ascribed the decline to less demand from China, though it did not provide a breakdown of exports. Domestic sales
IndustryNov. 2, 2015
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Civic groups protest S. Korea-Japan summit
South Korean civic groups staged a series of rallies Monday, denouncing the government for holding a summit with Japan without a formal apology for its colonial past. Some 70 civic groups held a joint press conference in central Seoul, criticizing that the summit took place when Japan did not make an apology for its wartime misdeeds, including the sexual enslavement by Japan's troops of Korean women during World War II. Japan has so far refused to accept Seoul's demand that it formally apologi
Social AffairsNov. 2, 2015
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Korean rival parties split over summit with Japan
South Korea's ruling and opposition parties showed mixed responses Monday to the outcome of summit talks between President Park Geun-hye and Japanese Prime Minister Shinzo Abe. At the first summit between the leaders of the two neighbors in more than three years, Park and Abe agreed to speed up negotiations to resolve the issue of former South Korean sex slaves for Japan's World War II soldiers. The ruling Saenuri Party noted it was meaningful that the two countries reached a progressive agree
PoliticsNov. 2, 2015
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Seoul shares nearly flat in late-morning trade
South Korean stocks traded a tad higher late Monday morning as investors took to the sidelines amid rising speculation over a U.S. interest rate hike, while foreigners snapped up recently battered stocks. The benchmark Korea Composite Stock Price Index inched up 1.3 points, or 0.06 percent, to 2,030.78 as of 11:20 a.m. Samsung Life Insurance, a unit of top conglomerate Samsung Group, rose 3.67 percent after it announced a share buyback program worth 700 billion won ($613.1 million) on Friday,
Nov. 2, 2015
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Number of firms on antitrust watch list falls in Nov.
The number of business group affiliates subject to restrictions on mutual investments and loan guarantees fell by 22 in November from a month earlier, the antitrust watchdog said Monday. The Fair Trade Commission said the number of firms on its watch list came in at 1,656 as of Sunday, down from 1,678 on Oct. 1. Nine conglomerate affiliates were added, while 31 were removed.All the companies belong to the country's 61 largest business groups. A total of nine business groups, including Korea El
IndustryNov. 2, 2015
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SK Telecom's Q3 net dips 28%
SK Telecom Co., South Korea's top mobile carrier, said Monday its third-quarter net profit sank 28.1 percent from a year earlier due largely to a government-led discount policy for mobile phone users. Net income reached 381.8 billion won ($334.6 million) in the July-September period, compared with 531 billion won the previous year, the company said in a regulatory filing. Operating profit fell 8.6 percent on-year to 490.6 billion won, with sales also dropping 2.4 percent to 4.26 trillion won
IndustryNov. 2, 2015
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Chinese premier hopes for substantial outcome from agreement with Seoul
Chinese Premier Li Keqiang expressed hope Monday that the latest agreement reached by China and South Korea will bring a substantial outcome. On Saturday, President Park Geun-hye and Li Keqiang agreed to strengthen dialogue on North Korea's nuclear weapons program and the potential unification of the two Koreas. Park and Li agreed to "further strengthen strategic communication" on the situation on the Korean Peninsula, North Korea's nuclear ambition and the unification of South and North Korea
InternationalNov. 2, 2015
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Sept. retail sales hit 4-month high on tax cuts, Chuseok
South Korea's retail sales rose to a 4-month high in September as tax cuts and the Chuseok holiday propped up consumer spending, a government report showed Monday. Retail sales topped 31.13 trillion won ($27.28 billion) in September, up 4.1 percent from 29.9 trillion won a year earlier and the highest amount since May, according to the report by Statistics Korea. The number also represents a 5.7 percent increase from 29.45 trillion won reached in August. The on-year gain is the highest reac
IndustryNov. 2, 2015
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Any North Korean aggression, provocation won't be tolerated: Han, Carter
South Korea and the U.S. agreed on Monday that they will not tolerate any aggression or military provocation by North Korea, reaffirming the U.S.' commitment to provide "extended deterrence" against the communist country's growing nuclear threats. "Defense Minister Han Min-koo and Defense Secretary Ashton Carter reaffirmed that any North Korean aggression or military provocation is not to be tolerated and the Republic of Korea and the U.S. would work shoulder-to-shoulder to demonstrate our comb
DefenseNov. 2, 2015
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Park, Abe agree to speed up talks to resolve issue of former sex slaves
President Park Geun-hye and Japanese Prime Minister Shinzo Abe agreed Monday to speed up negotiations to quickly resolve the issue of former South Korean sex slaves for Japan's World War II soldiers, Cheong Wa Dae said. The agreement was reached at the first summit between the leaders of the two neighbors in more than three years. Japanese Prime Minister Shinzo Abe and South Korean President Park Geun-hye (Yonhap)"The two leaders agreed to speed up consultations to try to quickly resolve the
InternationalNov. 2, 2015
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Confirmed bird flu cases rise to 14 since mid-Sept.: gov't
The number of confirmed bird flu cases reported in the country has risen to 14 since mid-September, as quarantine authorities step up efforts to control the spread of the highly contagious disease, the government said Monday. Since the first suspected avian influenza cases were reported on two duck farms on Sept. 14, the Ministry of Agriculture, Food and Rural Affairs said two outbreaks have been confirmed in Gwangju, 329 kilometers south of Seoul, and 12 cases were reported in the surrounding
Social AffairsNov. 2, 2015