Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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Over 82,000 Korean young people unemployed, not searching for job long-term
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[KH Explains] Can smart chargers ease tensions over EV fires?
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40% of Korea's workers who reported bullying faced retaliation: survey
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1 in 5 households to have breadwinner over 80 in 30 years
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New Fifty Fifty off to strong start
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[Weekender] Young Koreans more open to Japanese cultural products
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Assembly to review disputed appointment of national soccer team coach
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Evicted guest burns down inn; 3 killed
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Arrival of fall calls for more outdoor festivals
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Golfer defies odds for gold
With a dominant performance that silenced her critics and wowed her rivals, LPGA star Park In-bee won South Korea its ninth gold medal in the Rio de Janeiro Olympics on Saturday.Park ran away with the women's golf tournament at 16-under thanks to a five-under 66 on the blustery final day at Olympic Golf Course. With seven birdies and two bogeys, Park defeated world No. 1 Lydia Ko by five shots.It was one of Park's most impressive performances -- which is saying something because the 28-year-old
Latest NewsAug. 21, 2016
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FSC to announce Woori Bank privatization plan Monday
The South Korean financial regulator will announce a set of confirmed measures to privatize Woori Bank, the single state-owned commercial bank, on Monday. It is the fifth attempt by the Financial Services Commission and its Public Fund Management Committee to sell a controlling stake in the bank, currently held by the Korea Deposit Insurance Corp. (Yonhap)The KDIC holds a 51 percent stake in Woori Bank. The Korean government established Woori Bank by merging five struggling banks with a total o
Aug. 21, 2016
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[Herald Interview] Former Saenuri whip says South Korea needs nukes
With North Korea continuing to hone its nuclear and missile capability, possibly to push ahead a fifth nuclear test, South Korea should have its own nuclear weapon for self-defense, the ruling Saenuri Party’s former floor leader told The Korea Herald. Rep. Won Yoo-chul urged the government to shift away from observing a decades-old non-nuclear policy toward embracing nuclear armament for self-defense, proposing to use the North’s potential nuclear test as a “trigger” to begin the armament proces
PoliticsAug. 21, 2016
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Total market cap of top 10 conglomerates surges
The total market capitalization of South Korea’s 10 biggest business groups surged nearly 30 trillion won ($27 billion) in August alone, according to data provider FnGuide Sunday. According to the online financial information provider, the total market cap of the top 10 groups listed on the Kospi as of Friday stood at 690.2 trillion won, up 29.8 trillion won or 4.5 percent from late July. Samsung Group`s head office in Seocho-dong, southern Seoul (Samsung Group)The market cap of Samsung Electron
Aug. 21, 2016
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FCA boasts Jeep’s originality as SUV
The popularity of sports utility vehicles in South Korea is expected to continue with local and foreign carmakers trying to lure local drivers with exquisite designs, fuel efficiency and engine power. But there’s nothing more original than Jeep is, said Fiat Chrysler Automobiles Sunday, stressing its efforts in continuing the brand’s legendary heritage for 75 years.“Since the World War II, when the first Jeep was built, the brand has become one of the most successful SUV brands in the world, tha
MobilityAug. 21, 2016
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[Photo News] Shoppers flock to department store to avoid heat
Customers shop at the Lotte Department Store in Myeong-dong, central Seoul on Sunday, where diverse foreign luxury goods are being sold at discounted prices as part of a clearance sale. Korean shoppers have been heading indoors to local department stores lately, to avoid the heat wave that has swept the nation over the past few weeks. (Yonhap)
IndustryAug. 21, 2016
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Korea’s household savings increase twofold on weak economy
South Korea’s economy saw its household saving rate increase among the fastest in the Organization for Economic Cooperation and Development, according to the OECD.The OECD forecast that Korea’s household saving rate is expected to increase more than twofold this year, compared to four years ago, from 3.9 percent in 2012 to 8.66 percent in 2016. This would rank Korea as the fifth highest in the OECD following Switzerland with 20.13 percent, Sweden with 16.45 percent; Luxembourg with 17.48 percent
Aug. 21, 2016
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[David Ignatius] Fleeing IS fighters could spur ‘boomerang effect’
The Islamic State group hasn’t had much success yet in recruiting militants among the vast Muslim populations in Southeast Asia. But what happens when the caliphate’s capitals in Syria and Iraq are destroyed, and hundreds of foreign fighters from Indonesia, Malaysia and the Philippines try to go home?Experts here in Australia see the counterterrorism challenge as a regional problem, rather than simply an affliction of the Middle East and North Africa. They fear that a potentially dangerous new p
ViewpointsAug. 21, 2016
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Infiniti bets on with new QX60 in Korea
Infiniti, the luxury division of Japanese automaker Nissan, is slated to unveil its new luxury crossover QX60 later this month in the South Korean auto market, the company’s official said. Already having been a great crossover vehicle, the new QX60 is to offer some upgrades. “We aim to attract Korean consumers with QX60’s unique design, advanced safety systems and a reasonable price this autumn,” the company‘s official said. Infiniti QX60The company said its new QX60, a key model of Infiniti’s
MobilityAug. 21, 2016
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10-year wait for Korean firm’s Apple car battery: analysts
Amid reports that Apple is in talks with a small Korean firm to make batteries for a secretive car project, local experts said that it would take more than 10 years to be mass produced.A local news media recently reported that Apple is working with an unidentified Korean firm comprised of around 20 battery experts. The small Korean battery firm Orange Power is considered a strong candidate as it is the first and only Korean firm to have a patent on such technologies. An Apple store in Santa Moni
MobilityAug. 21, 2016
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[Park Ji-hyun] Surviving human trafficking in China
China’s human-rights abuses against its own people are no secret. But its abuse of North Korean women who flee to China to escape human-rights violations at home has remained largely hidden. I, however, know the truth, because I am one of those women.Since North Korea’s great famine in the 1990s, human trafficking of North Koreans, especially women, into China has become big business. Women who had watched family members starve to death began to cross the border through brokers, in order to earn
ViewpointsAug. 21, 2016
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[Antonio Garza] Don’t let this presidential election rip us apart
Every four-years we have an election that stretches our country thin along the political spectrum. As the left and right poles tug at our beliefs, the social fabric tightens and tensions rise across the country. But after each November, our political divisions slowly fade and the social fabric waves freely once again. This time, however, I’m worried that we may not get that far, I’m worried that we are watching it rip. Take a look at the anger foaming over at rallies. The slurs hurled at those
ViewpointsAug. 21, 2016
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[Andrew Sheng] The imminent threat of climate change
Until very recently, few mainstream economists took climate change seriously in projecting growth. Weather is something the polite talk about when they have nothing to say. Today, climate change is moving onto center stage. Most people equate climate change with global warming. But climate change could be excessive heat, cold, or simply larger variations in temperature that could cause drought, floods, typhoons and other disasters at the same time. The large volcanic eruption like Krakotoa in
ViewpointsAug. 21, 2016
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[Park Sang-seek] Current challenges to US global leadership
Recently, a debate on whether US hegemony in the world is declining and whether it is necessary for world peace has intensified in both West and non-West. This debate has also become a top campaign issue in the American presidential election. The leaders of the non-Western countries antagonistic to the US, including Russia and China, vehemently condemn American hegemony and its ideological foundation, American exceptionalism. A majority of the intellectuals in the non-West are also critical of
ViewpointsAug. 21, 2016
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Galaxy Note 7 sales boost Korean telecom businesses
The soaring sales of Samsung Electronics’ newly-released Galaxy Note 7 smartphone are boosting South Korea’s telecom businesses as customers are subscribing to new network operators when purchasing the new smartphone.According to the nation’s three major telecom operators SK Telecom, KT and LG Uplus, a total of 57,904 subscription swaps — switching from one telecom operator to another — took place over the weekend since Galaxy Note 7’s local release last Friday. Korean consumers line up to atte
TechnologyAug. 21, 2016
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Korean IT firms to offer options to refuse mobile gifts
South Korea’s leading internet technology companies are planning to grant local smartphone users an option to refuse mobile gift certificates sent by a third party within this year.Korean IT firms which operate mobile gift-giving and exchange platforms such as Kakao, SK Planet and KT Mhows said Sunday they will soon add such features to their services.The companies say that the decisions were made to enhance user convenience. But industry watchers suggest that a new antigraft law that takes effe
TechnologyAug. 21, 2016