Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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1 in 5 households to have breadwinner over 80 in 30 years
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Middle East’s big AI push lures Korean tech firms
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Arrival of fall calls for more outdoor festivals
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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New Fifty Fifty off to strong start
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Assembly to review disputed appointment of national soccer team coach
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KT&G would rise on recovering exports and domestic sales: Nomura
KT&G, Korea’s largest tobacco and red ginseng provider, would not be hit hard by a new anti-graft law backed by robust export growth and sales recovery, said a report by Nomura Financial Investment. “We remain positive on KT&G, as we anticipate that structural export growth momentum will continue,” wrote Cara Song, an analyst at the securities firm based in Seoul in a report. “Export earnings grew swiftly in all KT&G’s divisions and look likely to record a 21.7 percent gross profit contribution
Sept. 8, 2016
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Chinese tourists‘ card spending in Korea hit record
Chinese tourists’ credit card spending in Korea recorded 4.3 trillion won ($3.93 billion) in the first half of 2016, a more than fivefold increase compared to the same period in 2012, a report showed Thursday.Among foreign visitors’ card expenditures, the Chinese spending accounted for 62 percent, up more than 30 percent from 2012, according to the joint report by Korea Culture & Tourism Institute and Shinhan Card big data center.The largest Yuan spending was for shopping, at 2.4 trillion won. T
IndustrySept. 8, 2016
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Fall art shows in full swing
A strong lineup of art shows are being offered this fall, more so than other seasons. With two big biennale events -- the Gwangju Biennale and Busan Biennale -- kicking off last week, major Korean museums and galleries have opened a plethora of exhibitions to attract the influx of international art professionals and local art lovers. Some of the more notable exhibitions are taking place in the tranquil art district of Samcheong-dong near Gyeongbokgung and the National Museum of Modern and Contem
PerformanceSept. 8, 2016
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Despite Russia’s volatile economy, LG sees market potential
MOSCOW/RUZA -- Inside the electronics store M.video, near Sheremetyevo International Airport in Moscow, customers flock to a 65-inch LG Signature organic light-emitting diode TV displayed at the front of the TV section. People check the front and the rear of the luxury TV set, marveling at how thin the TV screen has become thanks to technological advancements. A Russian worker checks the progress of washing machines being produced at LG Electronics’ Russia plant in Ruza, west of Moscow, Monday.
TechnologySept. 8, 2016
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[Newsmaker] Apple unveils new iPhones, waterproof smartwatch
Apple Inc. unveiled an iPhone 7 with high-resolution cameras and no headphone jack at its annual launch event Wednesday, though the biggest surprise was the debut of a three-decade-old Nintendo game franchise, Super Mario Bros, on the smartphone.While shares of Apple barely budged, Nintendo‘s US-listed shares jumped 29 pct on investors’ hopes that Super Mario would be another mobile gaming hit for the Japanese company akin to the wildly popular Pokemon Go. Apple inc. CEO Tim Cook discusses the i
BusinessSept. 8, 2016
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Kia Motors to use Mexico as bridge to Americas
South Korea’s second-largest automaker Kia Motors aims to use its plant in Mexico as a base to target the North and South American auto markets, Hyundai Motor Group chairman said Wednesday. Kia’s new manufacturing plant -- the automaker’s sixth overseas production base -- has an annual production capacity of 400,000 units with an investment of $3 billion, the company said. Hyundai Motor Group Chairman Chung Mong-koo at the opening of Kia Motors' new plant in New Leon, Northeastern Mexico on Sept
MobilitySept. 8, 2016
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Assembly slams handling of Daewoo, Hanjin
South Korea’s political circles began their parliamentary probe into the government’s mismanagement of the debt-laden shipping and shipbuilding industry, particularly state-owned Daewoo Shipbuilding & Marine Engineering at the National Assembly on Thursday.The two-day hearing, which was supposed to analyze the root cause of the industry downturn and find solutions to the problem, already turned into a heated debate with the conservative and progressive lawmakers blaming each other over the lates
Sept. 8, 2016
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Asset managers see largest Q2 earnings in 7 years
Asset management businesses in South Korea saw the biggest earnings in seven years in the second quarter, but the number of unprofitable firms also rose due to fiercer competition in the market. According to data by the Financial Supervisory Service on Thursday, the combined net profits of asset management companies in South Korea shot up 18.8 percent to reach 160.7 billion won ($147 million) during the April-June period this year, compared to the same quarter last year. The number of asset mana
Sept. 8, 2016
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Chaebol firms owned by heirs depend more on intragroup deals
Chaebol companies owned by potential heirs from the business-controlling family make easy money, relying on contracts from affiliate companies, a phenomenon that latest data shows is strengthening despite increased scrutiny. According to an analysis by the Fair Trade Commission of 47 large conglomerates and their 1,274 affiliate companies, intragroup trade accounts for 59.4 percent of all sales at companies wholly owned by the heirs as of end-2015, up 7.6 percent from a year earlier. The share o
Sept. 8, 2016
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Solar energy and ESS to bring industrial paradigm shift
Solar energy and energy storage systems would fundamentally change people‘s lives, said Hanwha Group heir-apparent Kim Dong-kwan on Wednesday.“The energy revolution along with the integration of the energy storage system, or ESS, and the solar power system would integrate together, and this synergy would provide us with totally different ways of living,” said Kim, chief commercial officer of the group’s solar energy unit of Hanwha Q Cells Co. “Solar energy is set to possess 26 percent of the ren
IndustrySept. 8, 2016
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Korea hosts synergistic, dynamic, decisive dialogue
The concept of military power has two starkly different subcategories: hard and soft power. The former normally involves the use of coercive military means such as the conventional forces or nuclear weapons, while the latter is achieved by noncoercive means of persuasion, including personal exchanges, joint military drills and military diplomacy.In the 21st century, many states are opting to focus more on military soft power. Direct military confrontations not only pose a grave risk to national
DefenseSept. 8, 2016
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S-Oil’s new CEO begins term with sharing for Chuseok
S-Oil’s newly appointed CEO Othman Al-Ghamdi participated in a volunteer event on Thursday to support the underprivileged in his first official appearance as CEO, the company said. Some 100 employees and executives of Korea’s third-largest oil refiner visited a community center in central Seoul, run by Ewha Womans University, to deliver presents for neighbors in need ahead of the Chuseok holiday, which will begin on Sept. 14. S-Oil‘s new CEO Othman Al-Ghamdi (left) delivers a box filled with so
IndustrySept. 8, 2016