Most Popular
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Over 82,000 Korean young people unemployed, not searching for job long-term
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40% of Korea's workers who reported bullying faced retaliation: survey
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600 evacuated as heavy rain floods roads, homes in southern regions
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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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[Weekender] Young Koreans more open to Japanese cultural products
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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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Jeju's solo traveler-friendly spots offer solitude as well as camaraderie
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Doctors defend colleague accused of blacklisting non-strikers
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Sales of processed foods, other goods soar on Olympics
Sales of processed foods, health tonics and other related products in South Korea have jumped amid the Olympic craze, industry data showed Tuesday, as more people consume them while or after watching TV.Due to the 12-hour time difference between South Korea and Brazil, plays of South Korean athletes are largely broadcast in late-night or early-morning hours, so handy processed foods or heath tonics that help relieve fatigue have become popular among sports fans.According to South Korea's largest
IndustryAug. 9, 2016
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Korea begins development of test bed for self-driving cars
South Korea has launched its project to develop a new test bed for self-driving cars that will also include the development of new technologies to test autonomous cars, the government said Tuesday.The new test bed, called the K-city, will be built around the Korea Transportation Safety Authority's existing proving ground in Hwaseong, Gyeonggi Province, according to the Ministry of Land, Infrastructure and Transport.A ceremony marking the start of the 18.8 billion-won ($17 million) project was he
MobilityAug. 9, 2016
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Car exports shrink for ninth consecutive month in July
South Korea's automobile exports retreated for nine months in a row in July due largely to contracted global demand and partial strikes in local carmakers, the government said Tuesday.Outbound shipments of vehicles came to 219,982 units last month, down 16.9 percent from 258,536 units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The July figure widened from a 13.9 percent on-year drop in June and a 12.4 percent fall in May. The figure was 19.7 percent in April,
MobilityAug. 9, 2016
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MMF's net value tops 130 tln won
The net asset value of money market funds in South Korea has exceeded 130 trillion won ($117 billion) for the first time, as investors have increasingly favored short-term financial instruments, data showed Tuesday.MMFs are short-term debt securities such as Treasury bills and commercial papers, considered as safe as bank deposits but with a relatively quick and high return.Their growing popularity here reflects an increase in "floating" capital amid unrelenting economic uncertainties at home an
Aug. 9, 2016
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Shipbuilders' order backlog falls further in July
The order backlog held by South Korea's top three shipbuilders has dropped to the lowest level in almost 13 years in July amid an industry-wide slump, data showed Tuesday.According to the data compiled by global research firm Clarkson Research Services, the combined order backlog by Hyundai Heavy Industries Co., and two other local rivals stood at 23.87 million compensated gross tons as of end-July, the lowest since November 2003 when the comparable figure was 23.51 million CGTs.Chinese shipyard
IndustryAug. 9, 2016
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Korea falls to Russia in women's volleyball
South Korea has fallen to Russia in women's volleyball at the Rio de Janeiro Olympics, unable to contain the opponent's relentless attack in the late stage.After an early seesaw battle, Russia came out on top 3-1 (25-23, 23-25, 25-23, 25-14) at Maracanazinho on Monday for its second consecutive victory in Pool A.Park Hae-mook/The Korea HeraldSouth Korea, which defeated Japan to open the Olympics, dropped to 1-1. It will next face Argentina on Wednesday at the same venue.Neither team led by more
Olympic GamesAug. 9, 2016
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Gov't report cites mix of upbeat domestic demand, export slump
The South Korean economy has hardly shown clear signs of recovery in recent months, as an apparent uptick in private consumption was offset by a slump in exports and industrial production, a government report said Tuesday."The economy has been experiencing improved domestic demand led by rising consumption, but the production front has remained in the doldrums due to faltering exports," the finance ministry said in its monthly economy assessment report called the "Green Book."The report is based
Aug. 9, 2016
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Samsung expected to raise capital spending by 120% in H2
Global chipmaker Samsung Electronics Co. is predicted to raise capital spending by 120 percent in the second half of this year, according to a market researcher IC Insights on Tuesday. Two other semiconductor heavyweights -- Taiwan Semiconductor Manufacturing Co. and Intel Corp. -- are also forecast to increase their capital spending in the second half, joining a race to boost production lines for vertical NAND memory chips and non-memory chips for smartphone applications. IC Insights expected S
IndustryAug. 9, 2016
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Saenuri Party to pick new leadership
The ruling Saenuri Party will hold a national convention on Tuesday afternoon to elect a new leadership tasked with promoting party unity, overcoming the opposition-led legislature and preparing for next year's presidential election.At the convention in Seoul, which begins at 2 p.m., the party will pick one chairman and four members of its decision-making Supreme Council. It has been led by an interim leadership since its crushing defeat in the April 13 parliamentary polls. Some 9,100 delegates
PoliticsAug. 9, 2016
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Heat wave boosts retail sales
A prolonged heat wave in South Korea is boosting sales of local retailers, cafes, hotels and theaters as people flock to those air-conditioned places to get relief, industry sources said Tuesday.The entire country has been hit by the scorching weather for the past two weeks, with daytime highs soaring above 35 degrees in Seoul and most other regions and the mercury staying above 25 C even at night.According to Lotte Department Store, its same-store sales climbed 4.1 percent between July 25 and S
IndustryAug. 9, 2016
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North Korean vice FM stresses nukes during talks with Angolan official
North Korea's vice foreign minister has defended Pyongyang's dual pursuit of nuclear and economic development during talks with his Angolan counterpart, the North's state media said Tuesday.The talks were held in Angola on Friday between the North Korean delegation, led by vice foreign minister Sin Hong-chol and Manuel Domingos Augusto, secretary of state for foreign affairs of the African country, according to the Korean Central News Agency.Sin stressed that the communist country is steadfastly
North KoreaAug. 9, 2016
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Korean sailors say Rio waters cleaner than before
South Korean sailor Ha Jee-min has been coming to Rio de Janeiro for three years for competitions, and he remembers seeing debris floating in the polluted waters of the Brazilian city.But when he began his Olympic campaign Monday in the Laser event at Marina da Gloria -- the starting point for sailing events in Guanabara Bay -- Ha found the waters "very clean."Park Hae-mook/The Korea Herald"My first year here, the waters were extremely bad, and there were sofas in them," Ha said. "But they weren
Olympic GamesAug. 9, 2016
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Hyundai, Kia ranked in top tier in China's customer service index
South Korea's leading automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp.continued to receive high marks for their customer service in China this year, a survey showed Tuesday, while rapid advances by local competitors caused some concerns.In an annual survey conducted by U.S. marketing information service firm J.D. Power, Beijing Hyundai, a joint venture of Hyundai Motor, received the third highest mark of 786 points out of possible 1,000 for its customer services, down one n
MobilityAug. 9, 2016
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Seoul stocks start higher on tech, auto gains
South Korean shares opened higher Tuesday on the back of gains in tech and auto stocks, extending gains after hitting fresh yearly highs a day earlier. The benchmark Korea Composite Stock Price Index rose 5.15 points, or 0.25 percent, to 2,036.27 in the first 15 minutes of trading.Large caps traded mixed with market kingpin Samsung Electronics gaining 0.06 percent. Major chipmaker SK hynix fell 1.14 percent. Top automaker Hyundai Motor rose 1.5 percent, and its affiliate Kia Motors inched up 0.6
Aug. 9, 2016