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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‘Workload, sexism, lack of voice ail Asian teachers’
Many teachers in countries across the Asia-Pacific region are suffering from a series of problems including overtime work, gender discrimination against females and the lack of opportunities for professional development, a recent UNESCO report said.Released to mark “World Teachers’ Day” on Oct. 5, the report examined the status and rights of teachers across eight participating countries: South Korea, Uzbekistan, Mongolia, Samoa, Pakistan, Sri Lanka, Cambodia and Indonesia. The report, “Teachers
Social AffairsOct. 4, 2015
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[J. Bradford DeLong and Michael M. DeLong] Shedding sunlight on tax havens
Tax havens are by design secretive and opaque. The entire point of their existence is to conceal the wealth hidden within them. And a new book by Gabriel Zucman, The Hidden Wealth of Nations: The Scourge of Tax Havens, reveals, as never before, the extent of their role in the global economy. J. Bradford DeLong (left) and Michael M. DeLong Zucman examines discrepancies in international accounts to provide the most precise and reliable figures we are likely to obtain about the amount of money stor
ViewpointsOct. 4, 2015
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Opportunity for the globalization of hansik
As the end of the 6-month long Milan Expo is fast approaching, the eyes of the world seem to focus on the fashion capital of Milan. Beginning May 1, the world’s largest event under the theme of “Feeding the Planet, Energy for Life” has attracted more than 12 million visitors for the last four months. More than 2.5 million visitors came from major European countries such as France, Germany and Switzerland. The Expo is a huge open platform that transcends time and space. For a limited time within
ViewpointsOct. 4, 2015
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[John Kass] Rahm, Hillary -- birds of a private emailing feather
Hillary Clinton and Chicago Mayor Rahm Emanuel have so much in common, in politics, in truthiness, and now in their questionable use of private email. They both know politics and muscle the Chicago Way. They worked together in those Bill Clinton presidential years, Hillary as the first lady who wouldn’t bake cookies; Rahm as the servant, the future “leaker in chief” who would go so far as to send a dead fish to his enemies. Oh, and did I mention that both are suspected of using private email acc
ViewpointsOct. 4, 2015
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Chevrolet Impala outsells Hyundai Aslan in Sept.
The Chevrolet Impala — a large sedan launched by GM Korea in August — surpassed Hyundai Motor’s Aslan in sales volume last month, rising as a strong player in South Korea’s premium large sedan market. A total of 1,644 units of the Impala were sold in September, compared to just 821 units of the Hyundai Aslan, according to the Korea Automobile Importers and Distributors Association. Moreover, the Impala’s total sales have reached 11,000 units as of September, according to KAIDA. GM Korea debu
MobilityOct. 4, 2015
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[Editorial] Infant mortality
President Park Geun-hye’s administration needs to pay a serious heed to a recent report on North Korea’s infant mortality. The report by the National Assembly Research Service noted the North was in need of an outside supply of drugs and medical equipment to cope with its high infant mortality rate. According to data from the U.S. Central Intelligence Agency’s World Factbook, which was cited in the report, North Korea ranked 74th among 223 countries surveyed in 2014 in terms of the number of dea
EditorialOct. 4, 2015
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All-new Jeep Renegade runs high in SUV market
In line with the growing number of people who are heading outdoors to camp or partake in various recreational activities, sport utility vehicles have recently been enjoying heightened popularity in South Korea. At the forefront of the continued SUV boom is Jeep, the world’s leading SUV brand under Fiat Chrysler Automobiles. Eyeing new SUV buyers, FCA Korea debuted the all-new Renegade here last month in Seoul. The Renegade, Jeep’s latest and first compact SUV, has been recognized for its high p
MobilityOct. 4, 2015
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[Editorial] A loose tongue
A former South Korean intelligence chief sparked controversy last week with remarks that the leaders of the two Koreas operated a hotline for years until 2008. Kim Man-bok, who served as director of the National Intelligence Service under the late President Roh Moo-hyun, said the hotline was set up during the administration of President Kim Dae-jung, Roh’s predecessor, and maintained into the Roh presidency. But he said the secret highest-level communication channel was severed after Lee Myung-b
EditorialOct. 4, 2015
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LG Chem to supply batteries for Yamaha golf carts
LG Chem said Sunday it would supply lithium-ion batteries for Yamaha Motors’ new golf carts by 2016. Yamaha, a Japanese manufacturer of engines and electric motors, is also one of the top golf cart makers globally. An LG battery cell of 5.5 kilowatt-hours and 74 ampere hours has cut the weight in half while doubling battery life, compared to existing lead-acid batteries. They can be used for up to five years without maintenance unlike lead-acid batteries that require maintenance once in two year
TechnologyOct. 4, 2015
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Samsung denies rigging TV energy efficiency tests
Samsung Electronics, the world’s largest TV maker, said Saturday it doesn’t cheat on TV energy efficiency tests, responding to a news report that its TVs appear more energy efficient under test conditions than in everyday use. Tests conducted by ComplianceTV, a testing group funded by the European Union, has recently found the discrepancy, U.K.'s Guardian reported Thursday.According to the report, the European Commission was also considering investigating allegations of cheating the tests even t
TechnologyOct. 4, 2015
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[Photo News] Hyundai Motor sponsors 2015 Presidents Cup
SPONSORSHIP FOR 2015 PRESIDENTS CUP -- Hyundai Motor’s director of domestic sales Chang Jae-hoon (right) delivers 67 Hyundai vehicles to Matt Kamienski, vice president at PGA Tour, in a ceremony held Friday in Incheon. Hyundai Motor is an official sponsor of the 2015 Presidents Cup, which will take place in Incheon from Oct. 6-11. (Hyundai Motor)
MobilityOct. 4, 2015
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Progress in comfort women to lead to Park-Abe summit: FM Yun
If South Korea and Japan make any progress in their stalled negotiations over the wartime sexual slavery issue, it could open the door to a summit meeting between their leaders, Foreign Minister Yun Byung-se said Sunday.The remarks come ahead of a trilateral summit of President Park Geun-hye and her Japanese and Chinese counterparts, Shinzo Abe and Xi Jinping, which will likely take place later this month or early next month.South Korea and Japan have yet to decide whether Park and Abe would use
InternationalOct. 4, 2015
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[Photo News] Prudential Life Insurance Korea celebrates 19th Global Volunteer Day
GLOBAL VOLUNTEER DAY -- Prudential Life Insurance Company of Korea employees and their families and friends participate in a baking project for the patients of the Red Cross Hospital in Majang-dong, Seoul, Saturday. As a global project, about 2,600 volunteers get involved in 78 Prudential community service projects to celebrate the 19th Global Volunteer Day on Oct. 5. (Prudential Life Insurance Company of Korea) (Prudential Life Insurance Company of Korea)
Oct. 4, 2015
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Mortgage loan growth hits 5-year high in Sept
(123RF)Mortgages issued by Korean banks grew at the fastest pace in five years last month due to rising rents and seasonal factors, industry data showed Sunday. In September, the mortgage loans of the country’s six major banks – KB Kookmin, Shinhan, Woori, KEB-Hana, Nonghyup and Industrial Bank of Korea – stood at 331.9 trillion won, ($280.6 billion), up 3.9 trillion won from a month ago. The monthly growth marks the sharpest rise since relevant data was compiled in 2010. Mortgage loans have gr
Oct. 4, 2015
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IAEA chief to visit Seoul for talks on N.K. nukes
The head of the U.N. nuclear watchdog will visit Seoul this week to meet with Foreign Minister Yun Byung-se and other officials on ways to denuclearize North Korea, the Foreign Ministry said Sunday.The two-day visit starting on Tuesday by Yukiya Amano, director general of the International Atomic Energy Agency, will allow for serious discussions on the North Korean nuclear issue as the country threatens to conduct a nuclear and long-range rocket test, the ministry said in a statement.The visit c
DefenseOct. 4, 2015
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'Zombie companies' weigh on Korea Inc.
A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt, potentially raising downside risks in Asia's fourth-largest economy, data showed Sunday. Out of 628 listed companies excluding financial firms, 34.9 percent of the companies failed to make sufficient profit to pay down the principal on their debt, up from 24.7 percent in 2010, according to LG Economic Research Institute. "As the economy still remains repressed, mo
IndustryOct. 4, 2015
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Russia won't recognize N. Korea as nuclear power: Russian deputy FM
Russia said Sunday it will not recognize North Korea as a nuclear power, noting the country is making multi-faceted efforts to resuscitate the six-party talks on ending North Korea's nuclear ambitions."It is never acceptable for Russia to effectively recognize North Korea's status as a nuclear possessing country," Igor Morgulov, Russia's deputy foreign minister, said in an interview with Yonhap News Agency, conducted on the occasion of the 25th anniversary of Russia's diplomatic ties with South
North KoreaOct. 4, 2015
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Korea to allow pension funds to invest in ETFs
The financial regulator said Sunday that it will allow public and private pension funds to invest in exchange traded funds in a bid to provide a safer and decent yield-generating investment tool in the low rate environment.An ETF refers to an investment fund traded on stock exchanges and represents a basket of stocks that reflects an index, which provides retail investors and institutions with a more liquid and risk-hedging tool. The Financial Services Committee will revise related regulations t
Oct. 4, 2015
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Foreign investment inflow tops $10 bln mark in first nine months of 2015
Foreign direct investment that arrived in South Korea surpassed the $10 billion mark in the first nine months of 2015, up 9 percent compared to the year before, the government said Sunday.The total that arrived by the end of September stood at $10.82 billion compared to $9.92 billion tallied for the same three quarters last year, the Ministry of Trade, Industry and Energy said."After a weak start in the January-March period, FDI numbers clearly showed signs of improvement coming into the second
Oct. 4, 2015
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Korea to resume pear exports to Australia
South Korea will resume exporting pears to Australia that were halted after the outbreak of fire blight in the country, the government said Sunday.According to the Ministry of Agriculture, Food and Rural Affairs, the ban on locally grown pears that has been in place since June will be lifted Monday. Joint inspections carried out by South Korean and Australian officials confirmed that Seoul is keeping the highly contagious disease under control, and that it has not spread across the country, it a
Oct. 4, 2015