Most Popular
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AI textbook bubble could burst, expert warns
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Ex-presidential official’s leaked phone call rattles conservative bloc
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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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Pay debate plagues foreign nanny pilot
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North Korean trash balloons cross border day after Seoul military parade
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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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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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Budget airlines watch Jeju Air IPO
South Korea’s low-cost carriers are seeking new growth avenues ― going public ― led by industry leader Jeju Air on the back of its growing market share in the domestic and international routes that threaten full-service carriers. Last week, the country’s No. 1 budget carrier Jeju Air said it expects to raise around 154 billion won ($128.4 million) by issuing 5.5 million shares at a price range of 23,000-28,000 won per share.The carrier owned by Aekyung Industrial is expected to list in November
IndustrySept. 29, 2015
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[Photo News] Samsung Pay available in U.S.
SAMSUNG PAY AVAILABLE IN U.S. -- Tech giant Samsung Electronics launched its mobile payment service Samsung Pay in the U.S. market Monday. Samsung Pay allows users to make purchases with either traditional magnetic stripe terminals or NFC-enabled terminals. (Samsung) SAMSUNG PAY AVAILABLE IN U.S. -- Tech giant Samsung Electronics launched its mobile payment service Samsung Pay in the U.S. market Monday. Samsung Pay allows users to make purchases with either traditional magnetic stripe terminals
TechnologySept. 29, 2015
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Applications for Internet-only banks begin
(123RF)Financial authorities will start accepting preliminary applications for Internet-only banks, a new banking business platform, Wednesday, the Financial Services Commission said Tuesday. The submission runs for two days, from 9 a.m. on Wednesday through 6 p.m. on Thursday. The financial regulators are planning to give preliminary approval to one or two bidders by December. Internet-only banks offer the usual savings, wiring and loan services online, without conventional brick-and-mortar b
Sept. 29, 2015
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Parties inch toward agreement on electoral rules
The monthslong political deadlock of rival parties over electoral rules showed signs of easing Tuesday after the leaders inched toward an agreement on nominating procedures for next year’s general elections. However, the prospects for an all-out agreement remained grim as they failed to see eye-to-eye on how to redraw electoral districts to reflect proper distribution of parliamentary seats between those elected from constituencies and those elected through proportional representation. The ruli
PoliticsSept. 29, 2015
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Pulmuone mulls suing striking truckers
The feud between management and truck drivers at Pulmuone, South Korea’s mid-weight food maker, has worsened over the Chuseok holiday as the four-week strike has turned into a legal battle. According to Pulmuone, the company is seeking damage compensation from about 40 truckers who have allegedly inflicted about 1 billion won ($835,000) worth of damage in the course of protests in front of the company’s logistics center in Eumseong, North Chungcheong Province, since Sept. 4. The company also cla
IndustrySept. 29, 2015
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Wildland fire forum to kick off in Pyeongchang
The world’s leading authorities in nature, forest and culture will kick off the sixth International Wildland Fire Conference next month, the South Korean forest agency said Tuesday. With the theme “Fire of the Past, Fire in Future,” the international fire summit will run from Oct. 12-16 in Pyeongchang, Gangwon Province, to discuss ways to protect natural and cultural heritage from fire. The five-day event will also address international cooperation for a cohesive global fire management strateg
Sept. 29, 2015
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Starbucks Korea to give out coffees to 560,000 soldiers
Starbucks Coffee Korea employees attend a promotional campaign to provide free coffees to soldiers. Starbucks Coffee KoreaStarbucks Coffee Korea on Tuesday said it will reward all military soldiers with free coffee as a token of appreciation for their patriotism. “Anyone who identifies themselves as military soldiers along with a coupon distributed at the military camp will be given a cup of tall-size ‘Today’s Coffee’ at any Starbucks outlet in the country,” the company said. The coupon is valid
IndustrySept. 29, 2015
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Hyundai Heavy sells stocks for cash
Hyundai Heavy Industries is actively selling off stakes in companies to secure more cash and offset losses from poor sales and ailing offshore plant business.Hyundai Samho Heavy Industries, HHI’s affiliate, reportedly sold 1.3 million shares in steelmaker POSCO for more than 226 billion won ($189.2 million). The figure is not even half the price it purchased initially -- 730 billion won. With the sell-off, HHI has sold its entire stake in POSCO. Hyundai Mipo Dockyard, another HHI affiliate, sold
IndustrySept. 29, 2015
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Sexism still prevalent in Korean media industry
Sexism is still prevalent in both TV and print journalism in South Korea, according to a number of studies released by a local think tank. According to the studies, which monitored a total of nine TV channels and their daily news shows from Aug. 1-8, male hosts were four times more likely to open the shows by delivering the first news segment of the programs compared to their female counterparts. Also, male anchors in general were significantly older -- on average by 10 to 20 years -- than fem
Social AffairsSept. 29, 2015
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[Editorial] Growing international role
Korea showed its readiness to play a more vital role in the international community during the U.N. Sustainable Development Summit held Sept. 25-27 in New York City. At the plenary session of the U.N. Sustainable Development Summit on Sept. 26, President Park Geun-hye pledged $200 million toward health care services and education of girls over a period of five years starting next year. Under the “Better Life for Girls Initiative,” Korea will provide health- and education-related official develop
EditorialSept. 29, 2015
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Samsung Electronics boasts prowess in chip fabrication
A report from a private research institute suggested tech giant Samsung Electronics once again outdid Taiwanese chip manufacturer TSMC in the competition for efficient chip technology.Both chip manufacturers are confirmed as the two suppliers of the mobile application processor deployed in California-based Apple’s latest iPhone S6 smartphone, a teardown report by research firm Chipworks showed. Samsung Electronics’ Exynos 7 mobile application processor, which deploys a 14nm process technology. (
TechnologySept. 29, 2015
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[Editorial] Park aims at N.K. at U.N.
While much of world is preoccupied by the unfolding refugee crisis in Europe, President Park Geun-hye used the podium of the U.N. General Assembly to bring renewed international attention to the issue of North Korean nuclear disarmament. Noting that the North Korean nuclear issue posed a serious threat to peace in Northeast Asia and beyond, Park urged giving highest priority to resolving it. With the Iranian denuclearization deal reached in July, North Korea is now the biggest unresolved nuclear
EditorialSept. 29, 2015
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A Helsinki Process for the Korean Peninsula?
Last month, North and South Korea narrowly avoided a catastrophic military confrontation. After 40 hours of strenuous negotiations, the South agreed to stop loudspeaker broadcasts into the demilitarized zone between the two countries in exchange for the North expressing “regret” for the South Korean soldiers killed by a land mine blast in the DMZ three weeks earlier.While the crisis featured North Korea’s familiar belligerence and aggressive rhetoric, there were also some interesting new twists.
ViewpointsSept. 29, 2015
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[Robert J. Fouser] Changing views of Korean tradition
Chuseok is a time for family gatherings to thank ancestors for a bountiful fall harvest. People travel long hours to return to their hometowns where their ancestral graves are located. Though less chaotic than in the past, more than half the Korean population travels. In recent years, Chuseok has become a commercial holiday, as people feel pressured to send gifts. Marketers use a wide range of traditional Korean iconography to push Chuseok gifts with the idea being that every good Korean should
ViewpointsSept. 29, 2015
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[Kim Seong-kon] Raising the profile of Korean literature overseas
Once again, the Nobel Prize season has come. Every year, we anxiously await the news that the Nobel Prize for literature is awarded to a Korean writer at last. And every year, we are disappointed. How, then, could we raise the profile of Korean literature overseas? In order to achieve the goal, three things are imperative: great writers, good translators and big-name publishers. As someone who is in charge of translating and publishing Korean literature overseas, I am always on the lookout for
ViewpointsSept. 29, 2015
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Financial groups still reliant on banking profits
South Korea’s financial sector has yet to mature in terms of diversifying its profit-taking structure, data from the Financial Supervisory Service showed Tuesday.According to an analysis of eight financial groups by the regulator, the commercial banking segment still accounted for their major earnings during the first half of the year.Further, the proportion of earnings reaped by their banking business rose to 67.1 percent during the January-June period of 2015, up more than 10 percentage points
Sept. 29, 2015
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Cost of Seoul travel surges
Daily travel expenses for visitors to Seoul have surged over the last year, making it one of the most expensive cities to travel in the world, a lawmaker’s report showed Tuesday. According to Rep. Park Dae-chul of the ruling Saenuri Party, the daily travel cost for foreigners visiting Seoul recorded $438 this year, ranking it as the 13th highest in the world and third in Asia. The cost includeS $310 for accommodation and $128 for food expenses. Korea Tourism Organization officials welcome Chine
Social AffairsSept. 29, 2015
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[Herald Interview] Korea seeks more roles in wild-land fire control
The Korea Forest Service and Gangwon Province will jointly host the sixth International Wildland Fire Conference at Pyeongchang from Oct. 12 to 16.The international conference was established when old ways of fire prevention became insufficient to deal with the frequent and intense fires happening worldwide due to climate change, and awareness increased on the need to exchange academic information through international assistance.“It is the first time that this conference is held in Asia, and it
IndustrySept. 29, 2015
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S. Korea can penalize Volkswagen for cheating on emissions: gov't
South Korea can penalize German automaker Volkswagen AG for cheating on its vehicle emissions under a free trade deal with the European Union, the government said Tuesday.According to the environment ministry, the free trade agreement reached between the EU and Asia's fourth-largest economy and South Korea's local law have provisions allowing authorities here to deal with emissions-related cheating by car manufacturers. "The FTA permits Seoul to randomly check if a carmaker adhered to technical
Sept. 29, 2015