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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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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Evicted guest burns down inn; 3 killed
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[Herald Interview] US election may unleash growth for Korea: Laffer
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Banks dented by corporate restructuring
The ongoing restructuring activities in the Korean shipbuilding and shipping industries have impacted local banks, pushing them into the red in the second quarter of this year, the country’s financial watchdog said on Thursday. According to the data by the Financial Supervisory Service, the total net profit of 17 banks, including commercial banks, provincial banks and state-owned banks, posted a 400 billion won deficit in the April – June period, largely due to losses at the government-run banks
Sept. 1, 2016
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[Photo News] Shinhan's anniversary
Shinhan Financial Group Chairman and CEO Han Dong-woo delivers a speech at a ceremony held at the firm’s headquarters in Seoul on Thursday to mark the 15th anniversary of the group’s foundation. He outlined five key strategies for a new era of growth, including transitioning to the digital era, globalization and proactive risk management. (Shinhan Financial Group)
Sept. 1, 2016
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1,200 detained for date abuse
More than 1,200 date abuse perpetrators were arrested in Seoul from June-August, as police conducted a special crackdown on violence against women, the Seoul Metropolitan Police Agency said Thursday.Police encouraged women to contact the agency whenever they felt their safety was threatened on both public and private property during the period. Some 7,810 women reported feeling unsafe via smartphone applications and by phone. Each case was handled by officers specializing in crime prevention. Al
Social AffairsSept. 1, 2016
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[Monitor] Current account surplus narrows in July
South Korea’s current account surplus hit its lowest point in three months in July, central bank data showed Thursday. The current account surplus reached $8.71 billion in July, compared to $12.06 billion in June, according to the preliminary data from the Bank of Korea.
Sept. 1, 2016
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Korea appoints World Bank specialist as head of FATF training institute
Korea has appointed a World Bank specialist as the director of a new educational institute on anti-money laundering that will open later this month, announced the Financial Intelligence Unit under the Financial Services Commission on Thursday. Kevin Stephenson, a senior specialist on the financial sector at the World Bank, will head the Training and Research Institute called TREIN under the Financial Action Task Force. It is slated for an official launch at Busan International Finance Center on
Sept. 1, 2016
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Park to hold summits with China, Russia to ease THAAD tension
President Park Geun-hye will visit and hold summits with her Russian and Chinese counterparts starting Friday as Seoul seeks to defuse tension with the two countries over its plan to station advanced US missile defense assets here, Cheong Wa Dae said Thursday. Park is scheduled to land in Vladivostok for a two-day stay during which she will deliver a keynote speech at the Eastern Economic Forum and hold a summit with her Russian counterpart Vladimir Putin. From Sunday, she is expected to attend
Foreign AffairsSept. 1, 2016
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Samsung unveils Gear S3 at IFA
Samsung Electronics unveiled its new smartwatch Gear S3 at the annual technology show IFA on Wednesday evening. “With the Gear S3, we continue to build on our wearables heritage of offering diverse choices to enhance consumers’ unique lifestyles,” said Lee Young-hee, executive vice president of Samsung Electronics’ global marketing and wearable business, at the event in Berlin. Lee Young-hee, executive vice president of Samsung Electronics’ global marketing and wearable business, presents Gear
TechnologySept. 1, 2016
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Saenuri calls for speaker's resignation
The 20th National Assembly officially kicked off its first regular session Thursday, but suffered an immediate roadblock, as the ruling Saenuri Party members boycotted the general meeting, demanding the speaker resign over his allegedly pro-opposition remarks on controversial issues.Rival parties were inches away from finally approving the 11 trillion won ($9.8 billion) budget plan, but once again clashed over the deployment of an advanced US anti-missile battery and the corruption scandal of a
PoliticsSept. 1, 2016
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Dongwon supports future leaders
Korea’s leading canned fisheries producer Dongwon Group is running various education-related projects to support children and students who will lead Korea in the future, the firm said Thursday. Living up to its vision of giving back to the community, the conglomerate provides one free children’s book a month for a year to recipients who are 6-years-old or younger, the company said. The project was started in 2007, based on group Chairman Kim Jae-chul’s belief that “In order for Korea to become a
IndustrySept. 1, 2016
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AmorePacific chairman donates W300b for his science foundation
Cosmetics giant AmorePacific chairman Suh Kyung-bae announced Thursday a plan to donate his private wealth of 300 billion won ($270 million) to the science foundation he will soon establish. “I wanted to personally contribute to the society as I owe a lot to many people for my success,” Suh said during a news conference in Seoul.AmorePacific Chairman Suh Kyung-bae speaks at a news conference in Seoul on Thursday. (AmorePacific)He stressed that the SUH Kyungbae Science Foundation is not related t
IndustrySept. 1, 2016
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Starbucks to launch tea brand next week in Korea
Starbucks will launch its tea brand Starbucks Teavana in Korea on Sept. 6 at some 930 stores nationwide, Starbucks Coffee Korea announced Thursday. Starbucks Corp. acquired the black tea brand Teavana, based in Atlanta, for $615.8 million in 2013 to tap into the $125 billion worldwide tea market, according to the U.S business magazine Fortune.Starbucks Coffee Korea staff promote Starbucks Teavana at the Starfield Hanam GL store on Thursday. (Starbucks Coffee Korea)“Starbucks Teavana will offer a
IndustrySept. 1, 2016
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Tesla to accelerate charging infratructure with Shinsegae
Tesla announced Thursday that it would open a retail location in the nation‘s largest shopping mall later this year.The American automotive company said the first store would be located in Shinsegae Group’s Starfield Hanam mall in Gyeonggi Province and more shops were expected to open in 2017 and 2018 in other Shinsegae locations. AP-YonhapTesla plans to expand partnerships with the retail giant to accelerate its charging infrastructure. “Shinsegae will support the rapid deployment of the Tesla
MobilitySept. 1, 2016
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[Editorial] Hesitant investment
According to Statistics Korea, three major engines for economic growth posted simultaneous slumps in July, raising uncertainty over the third-quarter gross domestic product.The three sectors -- industrial output, private consumption and corporate investment in facilities -- were in decline. Even though seasonal vacancies during the summer should be taken into consideration, the sharp drop in corporate facilities investment is especially worrying.Local businesses’ investment in facilities plunged
EditorialSept. 1, 2016
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[Editorial] Nuclear submarines
Calls are growing among ruling party lawmakers for the construction of nuclear-powered submarines as the threat of North Korea’s submarine-launched ballistic missiles looms large.North Korea successfully test-fired a SLBM last week. Launched near Sinpo on the North’s eastern coast, the missile flew some 500 kilometers and fell into waters 80 kilometers inside Japan’s air defense identification zone.Defense officials in Seoul said it would take the North one to three years to deploy SLBMs. North
EditorialSept. 1, 2016