Most Popular
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AI textbook bubble could burst, expert warns
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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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Ex-presidential official’s leaked phone call rattles conservative bloc
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North Korean trash balloons cross border day after Seoul military parade
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Pay debate plagues foreign nanny pilot
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Prosecution closes 'Dior bag' case amid opposition uproar
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Man escapes DUI charges by downing bottle of soju while pulled over
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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Ford, Jaguar Land Rover, GM Korea to recall over 9,700 cars in Korea
Ford Sales & Service Korea, Jaguar Land Rover Korea and GM Korea will recall 9,779 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 6,431 Ford Escapes, Fusions, Mondeos and MKZs made by the U.S. automaker's luxury car division, Lincoln, have been found to have faulty air bags and steering column issues.Air bag problems involve cars made between April 15, 2012, and
MobilityOct. 7, 2015
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Suwon beckons with cultural festival
King Jeongjo, the 22nd king of the Joseon Dynasty (1392-1910) and the son of ill-fated Crown Prince Sado, wanted to build a “utopian city” in Suwon, Gyeonggi Province that could be benchmarked by other cities across the country.This was where King Jeongjo wanted to retire after handing over his throne to his son, King Sunjo.The reenactment of King Jeongjo taking a stroll at Hwaseong Fortress (Suwon City)Hwanseong Fortress and Hwaseong Haenggung Palace in the region have gained attention from loc
CultureOct. 7, 2015
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Volkswagen, Audi to apologize for emission rigging
Local units of Volkswagen and Audi will apologize to their customers for the deepening emission rigging scandal and promise to take "every necessary measure," including a recall, to minimize inconvenience, company officials said Wednesday.Volkswagen Korea plans to send out an apology letter to about 92,000 customers owning its cars, whose emission results are suspected of having been manipulated, the officials said."We are drafting the wording of the apology, which will be sent out sooner or lat
MobilityOct. 7, 2015
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Samsung Electronics' profits jump 79.8% in Q3
South Korea's top tech behemoth Samsung Electronics Co. said Wednesday its third-quarter operating income spiked nearly 80 percent from a year earlier on its robust chip and display businesses, far beating market estimates.Operating income was estimated at 7.3 trillion won ($6.25 billion) for the July-September period, up 79.8 percent from the 4.06 trillion won posted a year earlier, Samsung said in a regulatory filing. (Yonhap)The third-quarter operating income also marks a 5.8 percent rise fro
Oct. 7, 2015
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Korea seeks to reach more free trade deals: official
South Korea is seeking more free trade pacts and is committed to the establishment of a global value chain, the country's vice trade minister has said.Speaking at a two-day G-20 trade ministers meeting which ended in Istanbul on Tuesday, Vice Minister Moon Jae-do said that following the 2008 global financial crisis, heightened uncertainty and volatility have become the "new normal" on the international stage."Asia's fourth-largest economy is seeking to reach more free trade agreements with partn
Oct. 7, 2015
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Large firms' labor costs growing faster than earnings: data
The labor costs for South Korean conglomerates have risen at a pace over the past decade faster than the growth in their bottom lines, data showed Wednesday. The average salary paid by 72 out of the country's top 100 companies by market capitalization to their workers, came to 69.6 million won ($59,900) last year, up 46.3 percent from 2005, according to the data compiled by corporate researcher CEO Score. In contrast, the surveyed firms' operating income grew at the slower pace of 20.3 percent o
Oct. 7, 2015
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No. of feature phone users dropping in Korea: data
The number of people who use feature phones has been decreasing fast in South Korea, government and industry data showed Wednesday, reflecting a consumer trend shift to smartphones. The number of feature phone owners stood at 10.8 million at the end of August, down nearly 15 percent from 12.7 million 10 months earlier, according to the data by mobile carriers and the Ministry of Science, ICT and Future Planning.Feature phones, also known as "dumb phones," refer to older cellphone models before s
IndustryOct. 7, 2015
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U.S. senators introduce new N. Korea sanctions legislation
A group of U.S. senators, including presidential hopeful Marco Rubio, introduced legislation Tuesday calling for imposing new sanctions on North Korea for its nuclear program, human rights abuses and cyber attacks.Sen. Cory Gardner (R-CO) led the introduction of the North Korea Sanctions and Policy Enhancement Act of 2015, with Rubio (R-FL) and Jim Risch (R-ID) as co-sponsors, saying the U.S. should not forget "the severe risk posed by the nuclear-armed and increasingly belligerent regime.""The
North KoreaOct. 7, 2015
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Korean professor elected to lead U.N. panel on climate change
A South Korean sustainable development expert was elected as the new chief of the Intergovernmental Panel on Climate Change on Tuesday, the organization said.Lee Hoe-sung, a Korea University professor known for his expertise in energy-environment policy, was selected to succeed Rajendra Pachauri as chairman of the U.N. panel in a vote at a meeting in Croatia, the IPCC said in a press release on its website.Lee, 69, who has served as a vice chairman of the panel, was among six candidates for the
Oct. 7, 2015
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THAAD is China's only concern about Park-Obama summit: Chinese professor
The only concern China has about the upcoming summit between South Korean President Park Geun-hye and U.S. President Barack Obama is the possibility of the two leaders discussing the deployment of the THAAD missile defense system to the South, a Chinese expert said Tuesday.Beijing has voiced vehement opposition to the U.S. desire to deploy a Terminal High Altitude Area Defense battery to South Korea, claiming it could be used against the country, despite repeated assurances from Washington that
Foreign AffairsOct. 7, 2015
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Pyroprocessing's economic viability 'different question': U.S. negotiator
A new nuclear fuel reprocessing technology, which the United States has allowed South Korea to research into, may work technically, but its viability economically and in terms of security is a "different question," a senior U.S. diplomat said.The remark by Assistant Secretary of State Thomas Countryman, who represented the U.S. in negotiations on a civil nuclear cooperation pact with Seoul, suggests the U.S. is negative about allowing South Korea to take advantage of the "pyroprocessing" technol
TechnologyOct. 7, 2015
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Samsung Electronics' profits jump 79.8% in Q3
South Korea's top tech behemoth Samsung Electronics Co. said Wednesday its third-quarter operating income is estimated to have risen 79.8 percent from a year earlier, far beating market estimates.Operating income is estimated at 7.3 trillion won ($6.25 billion) for the July-September period, compared with the 4.06 trillion won posted a year earlier, Samsung said in a regulatory filing. (Yonhap)The third-quarter operating income also marks a 5.8 percent rise from the 6.9 trillion won posted for
TechnologyOct. 7, 2015
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IMF cuts growth outlook of Korea to 2.7 percent
The International Monetary Fund on Tuesday revised its outlook on the 2015 economic growth of South Korea down to 2.7 percent, from its forecast of 3.1 percent in May.The Washington-based organization also lowered its forecast of the world’s gross domestic product growth by 0.2 percentage point from 3.3 percent (estimate in July) to 3.1 percent.Apart from the likelihood of Korea’s growth falling short of the global average, there is a possibility that the United States ― the world’s second-large
Oct. 6, 2015
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Park, Obama to show unity over N. Korea in next week's summit: Blinken
SEOUL, Oct. 6 (Yonhap) -- President Park Geun-hye and U.S. President Barack Obama will send both a strong warning message and overtures to North Korea when they hold summit talks next week, a top U.S. official said Tuesday.They are scheduled to meet each other in Washington on Friday amid Pyongyang's threats to launch a long-range rocket and conduct another nuclear test."We are absolutely united in solidarity with regard to the challenge posed by North Korea," Deputy Secretary of State Antony Bl
Foreign AffairsOct. 6, 2015
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Nobel Prize for missing piece in neutrino mass puzzle
STOCKHOLM (AP) – Takaaki Kajita of Japan and Arthur McDonald of Canada won the Nobel Prize in physics on Tuesday for discovering that tiny particles called neutrinos change identities as they whiz through the universe, proving that they have mass.By uncovering the ``chameleon-like'' nature of neutrinos, the laureates had solved a long-standing puzzle in particle physics that could alter our grasp of the cosmos, the Royal Swedish Academy of Sciences said.``The discovery has changed our understand
World NewsOct. 6, 2015
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Asia’s hottest young stars on casting board
BUSAN ― Kim Woo-bin, Kim Go-eun, Mark Chao, Sandrine Pinna, Takeru Satoh and Masami Nagasawa ― the hottest rising stars from Korea, Chinese-speaking countries and Japan ― sat onstage together Monday at BEXCO in Busan.The unlikely gathering of young A-listers was for “Casting Board,” a new event added to the schedule for this year’s Asian Film Market, part of the ongoing Busan International Film Festival. “We are so glad to present Casting Board and Curtain Call, an expansion of last year’s pilot
FilmOct. 6, 2015
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‘Convergence’ diverges from genre at Busan film festival
BUSAN ― “Convergence” is the kind of movie that reaffirms why fans of genre films go to film festivals. It sits somewhere in the space of an action, mystery, thriller, indie, ghost, horror feature, yet finds an original way to bust its genres open and surprise audiences ― both in twists of the story itself and the conversations it evokes about life, theology and what is truly horrifying. Coming off his overall win at FirstGlance Film Fest Los Angeles, writer and director Drew Hall brought “Conve
FilmOct. 6, 2015
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[Newsmaker] Twitter founder given a second chance as CEO
Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned cofounder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses.The hiring revealed Monday in a regulatory filing ends Twitter’s three-month search for a new leader. It marks Dorsey’s second stint as CEO since he helped start the San Francisco company more than nine years ago with Evan Williams, Biz Stone and Noah Glass.Jack Dorsey, chairman of Twitter Inc. (Bloomber
World BusinessOct. 6, 2015
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Retailers offer bigger deals for Korean Black Friday
Retailers have marked down prices further for a government-led nationwide sales event dubbed Korean Black Friday after it faced ridicule for the lack of preparation.Lotte Department Store in Myeong-dong, central Seoul, is crowded with shoppers during the Korean Black Friday event on Monday. (Lotte Department Store)On Tuesday, the sixth day since the grand sale event launched, major department store chains said they will offer additional bargain deals on the trot only a day after the government
IndustryOct. 6, 2015