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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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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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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Doctors defend colleague accused of blacklisting non-strikers
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Samsung Pay hits 2 tln won in accumulated transactions in Korea
Samsung Electronics Co.'s mobile-payment service, Samsung Pay, has hit 2 trillion won ($1.8 billion) in accumulated transaction volume in South Korea, the company said Wednesday. The record came about one year after Samsung launched the mobile-payment service at home. Of the accumulated transaction volume, the value of fingerprint-identification mobile payments, which started this year, stood at about 500 billion won, Samsung said. Samsung is expanding the mobile-payment service globally. The co
TechnologyAug. 24, 2016
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Korea to hold annual meeting with Fitch on credit assessment
The South Korean government will have an annual consultation with Fitch Ratings Inc. this week on the country's credit valuation, the finance ministry said Wednesday.Led by Thomas Rookmaaker, head of Asia-Pacific sovereigns at Fitch, the delegation will visit South Korea for meetings with the Ministry of Strategy and Finance from Wednesday to Friday.Fitch will look into South Korea's macroeconomic policies, including its mid- and long-term plans, and financial issues like household debt and corp
Aug. 24, 2016
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Tumbling cracking margins bode ill for refiners
A key measure of oil refining companies' profitability has tumbled in recent months due to surging crude prices, casting a cloud on South Korean refiners' third-quarter earnings, industry sources said Wednesday.The benchmark Singapore complex gross refining margin plunged to the $3 per barrel range this month from $4.80 in July after hovering at $9.90 in January, according to the sources.Singapore is the regional trading hub of the benchmark Dubai crude.The margin is the difference between the t
IndustryAug. 24, 2016
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Finance minister urges parliament to pass extra budget bill
Finance Minister Yoo Il-ho on Wednesday said the National Assembly must speed up deliberation to pass the extra budget plan, adding that the fund must be distributed as soon as possible to effectively revitalize the national economy.Political parties, including the ruling Saenuri Party and the main opposition Minjoo Party of Korea, failed to put the extra budget bill of 11 trillion won ($9.82 billion) to a vote by Monday's deadline.Yoo said the parties must promptly pass the bill, noting that th
Aug. 24, 2016
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Korea convenes NSC session over NK SLBM launch
The presidential office Cheong Wa Dae on Wednesday held an emergency standing committee session of the National Security Council to discuss North Korea's submarine-launched ballistic missile launch. Photo taken on Aug. 22, shows President Park Geun-hye (center) presiding over a National Security Council session at the presidential office Cheong Wa Dae in Seoul. (Yonhap)Seoul's Joint Chiefs of Staff said that the communist regime test-fired the SLMB near its eastern port city of Sinpo at around 5
DefenseAug. 24, 2016
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Korean regulations continue to hinder development of autonomous cars: report
South Korea needs to further remove regulations to support the development of domestic autonomous or self-driving vehicles, a private think tank here said Wednesday.In a report, the Korea Economic Research Institute claimed excessive or unnecessary regulations here created a major hurdle to local developers of self-driving cars, partly by adding to their costs.The report came amid government efforts to help develop and commercialize level 3 self-driving cars by 2020. A level 3 self-driving car r
MobilityAug. 24, 2016
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Private-gov't body launches to foster hydrogen car sector
The South Korean government on Wednesday launched a consultative body of the public and private sectors in order to steer the hydrogen car industry to a leading growth engine of Asia's fourth-largest economy, the trade ministry here said.Led by the Ministry of Trade, Industry and Energy, the alliance for hydrogen convergence is comprised of provincial governments and local automotive and energy companies including Hyundai Motor Co., the country's largest carmaker, SK Gas and the state-run Korea
MobilityAug. 24, 2016
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FTC closes investigation on two local humidifier sterilizer firms
South Korea's antitrust watchdog said Wednesday that it has closed an inspection on two local humidifier sterilizer manufacturers, citing a lack of evidence, amid a ballooning toxic disinfectant scandal that has resulted in numerous deaths and illnesses here.Aekyung Industrial Co. and E-Mart Inc. had allegedly manufactured and sold humidifier cleansers using the chemicals chloro-methylisothiazolinone and methylisothiazolinone between 2006 and 2011.The Fair Trade Commission had accused the two co
Social AffairsAug. 24, 2016