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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[Herald Interview] US election may unleash growth for Korea: Laffer
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Evicted guest burns down inn; 3 killed
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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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‘Free trade still backbone of global prosperity’
Following Britain’s anticipated exit from the European Union, the U.K. economy will suffer from its self-inflicted withdrawal, while the impact on Europe will be minor, an influential economist has said.Klaus Regling, managing director of the European Stability Mechanism -- an intergovernmental organization based in Luxembourg City that provides financial assistance to eurozone member states in an emergency -- came to Korea to participate in the Global Financial Stability Conference 2016 in Seou
Foreign AffairsJuly 31, 2016
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Tokyo elects 1st female governor to lead city into Olympics
Tokyo on Sunday elected its first female governor to lead the city as it prepares to host the 2020 Olympics, as voters turned to a leader promising clean politics after two predecessors resigned over money scandals.Yuriko Koike was announced the winner by Japanese media as soon as voting ended, based on her definitive lead in exit polls. She will take charge of a sprawling capital with a population of more than 13 million and an annual budget bigger than Sweden's. “I am pushing for a Tokyo where
World NewsJuly 31, 2016
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[Newsmaker] Rowling hopes Harry Potter play goes global
LONDON (AP) -- London is under Harry Potter’s spell once more -- and J.K. Rowling hopes the rest of the world will eventually follow. The stage play “Harry Potter and the Cursed Child” had its gala opening Saturday in London’s West End and is already the theater event of the year. JK Rowling arrives at the Palace Theatre in London, Saturday. (Yonhap)Rowling joined director John Tiffany, playwright Jack Thorne and the cast onstage to receive a raucous standing ovation at the end of the two-part
World NewsJuly 31, 2016
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China's nuclear power ambitions sailing into troubled waters
China’s ambitions to become a pioneer in nuclear energy are sailing into troubled waters.Two state-owned companies plan to develop floating nuclear reactors, a technology engineers have been considering since the 1970s for use by oil rigs or island communities. Beijing is racing Russia, which started developing its own in 2007, to get a unit into commercial operation.In China's case, the achievement would be tempered by concern its reactors might be sent into harm’s way to support oil exploratio
World NewsJuly 31, 2016
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[Graphic News] Road fatalities highest in Yongsan
Yongsan-gu showed the highest number of deaths caused by traffic accidents last year, Road Traffic Authority data showed Sunday.A total of 7.26 deaths per 100,000 people was caused by vehicle-related accidents in the central district, the highest among 25 districts in Seoul.Yeongdeungpo-gu and Jung-gu followed, with 6.7 deaths and 5.96 deaths per 100,000 respectively.An average of 3.18 people per 100,000 in Seoul lost their lives from traffic accidents last year.The least amount of traffic fatal
Social AffairsJuly 31, 2016
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[Monitor] Finance industry tops average monthly wage
Workers in finance and insurance earned the most at a monthly average of 5.37 million won ($4,830) in May, followed by employees working at electricity, gas and water supply services with 4.89 million won, according to the Labor Ministry. The average monthly wage of a regular worker at a business with more than five employees stood at 3.13 million won, up 2.9 percent from a year ago.
July 31, 2016
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Shares forecast to remain range-bound this week
South Korean shares are expected to remain in a tight range this week as investors are forecast to take the sidelines ahead of key economic events around the globe, analysts said.The benchmark Korea Composite Stock Price Index closed at 2,016.19 points on Friday, up 0.40 percent from a week ago.The index started almost unchanged this week as investors took to the sidelines waiting for the U.S. Federal Open Market Committee meeting results. This week, investors are forecast to await the release o
July 31, 2016
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Oxy offers up to W350m for victims
Household goods manufacturer Oxy Reckitt-Benckiser announced Sunday that it would provide up to 350 million won ($315,000) in compensation each to Korean victims of its lethal humidifier sanitizers. “The compensation package took into consideration the delay in preparing a proper response, and the severity of the issue (of the humidifier sanitizers’ danger),” the company said in a statement via its website. The company said it would begin taking applications for compensation Monday.Under the fin
IndustryJuly 31, 2016
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North Korean children learn more about Kim Jong-un than English: study
Elementary schools in North Korea devote 171 hours of their curriculum teaching students about leader Kim Jong-un’s childhood, found a state-run institute. According to a report by the Korea Institute for Curriculum Evaluation on the 2013 revision of the North Korean curriculum, state criteria for the elementary schools stipulates that each student learn about the childhoods of Kim, his father Kim Jong-il, his grandfather Kim Il-sung and grandmother Kim Jong-suk for 684 hours during the five-yea
North KoreaJuly 31, 2016
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Korea‘s income tax exemption rate tops 48% in 2014
The ratio of South Korean workers exempt from paying earned income taxes reached 48.1 percent in 2014, higher than numbers found in other advanced economies, a local report said Sunday.According to the July edition of the Finance Forum released by the Korea Institute of Public Finance (KIPF), the percentage of Korean workers who did not pay taxes on their income has been falling from 47.6 percent in 2006 to 32.4 percent in 2013, but jumped sharply the following year. The sharp increase in 2014 f
July 31, 2016
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Air purifier companies agree on stricter product regulation: source
Air purifier companies found to have used toxic air filters agreed recently to revise product regulation standards, a source said Sunday.According to the source from the Korea Air Cleaning Association, the decision was made after a closed-door meeting last week to discuss how to deal with disputed air filters manufactured by 3M.An experiment last month by the Environment Ministry showed that the filters contained Octylisothiazolinone (OIT), which has been classified as a harmful substance since
Social AffairsJuly 31, 2016
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[Photo News] Policy briefing to CEOs
Finance Minister Yoo Il-ho speaks about the nation’s economic policy direction for the second half of this year during a CEO Summer Forum organized by the Federation of Korean Industries in PyeongChang, Gangwon Province, Saturday. (Finance Ministry)
July 31, 2016
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Tycoons face screening for financial firm ownership
The chiefs of the financial arms of major conglomerates -- including Samsung, Hyundai and Hanwha groups -- will face eligibility screenings as the government recently toughened regulations on managing financial companies, officials said Sunday.Under the nation’s revised corporate governance law, major shareholders of nonbanking financial entities, such as credit card, insurance and securities firms, are subject to periodic review by the Financial Services Commission on whether they are eligible
IndustryJuly 31, 2016
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Singapore to exclude N. Korea from visa waiver countries list in Oct.
Singapore will exclude North Korea from its visa waiver countries list starting in October as part of its efforts to sanction the reclusive country for its nuclear and missile development programs, diplomatic sources said.Sources here said the Southeast Asian country's Immigration and Checkpoints Authority announced that all North Koreans will be required to have a valid visa.Authorities added that the decision follows a review of the island city state's regular visa process and reflects a move
North KoreaJuly 31, 2016
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Incheon airport marks 500 million passengers
Incheon International Airport served its 500 millionth passenger Sunday, setting a new record for the largest number of daily passengers. According to Incheon International Airport Corp., the 500 millionth passenger, Kim Yong-geun, arrived at Incheon from Bangkok on Asiana Airlines flight OZ7423 at 10 a.m. He was greeted by a water salute from fire trucks and presented with a golden key by Incheon International Airport CEO Chung Il-young at a special ceremony. Incheon International Airport Corp.
IndustryJuly 31, 2016
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[Editorial] Elite N.K. defectors
A growing number of affluent North Koreans are defecting, suggesting the country’s elite are increasingly shaken up by the tightening global sanctions imposed on it. Most recently, a North Korean teenage mathematics genius sought refuge at the South Korean consulate in Hong Kong. The defector was a member of a North Korean delegation to the annual International Mathematical Olympiad, which was held in Hong Kong from July 6 to 16. The 18-year-old student is reportedly part of the privileged class
EditorialJuly 31, 2016
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POSCO Daewoo picked as single preferred bidder for Myanmar‘s power plant
Korea’s top trading arm, POSCO Daewoo, was picked as the single preferred bidder for a multimillion dollar project to build a power plant in Myanmar, the company said Sunday.The nation’s biggest steelmaker POSCO’s subsidiary said it won the qualification during an international competitive bid held by Myanmar’s Electric Power Generation Enterprise.The bid winner will build a steam power plant in Shwetaung, northwest of largest city Yangon, to provide electricity to households, industrial plants
IndustryJuly 31, 2016
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[Editorial] Scratching one’s own back
The Supreme Prosecutors’ Office is set to launch a reform drive to strengthen the moral fiber and integrity of prosecutors and overhaul its top-down organizational culture. The prosecution has created a reform council under instructions from Prosecutor General Kim Soo-nam. The council consists of four task forces that would address such problems as corruption among prosecutors, a military-style command culture, abuse of prosecutorial powers and unreasonable division of labor. The push for refo
EditorialJuly 31, 2016
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Gimpo Airport plagued with accidents linked to remodeling
Gimpo International Airport is coming under fire for continued safety concerns linked to its ongoing remodeling project after consecutive fires and flooding.The latest incident broke out Friday at approximately 6:30 a.m., when water leaked from the ceiling near the convenience store on the first floor and restrooms on the second floor, according to Korea Airports Corp., which operates the Gimpo airport.“The water came into the waiting area when heavy rains flooded the canopy in the remodeling si
IndustryJuly 31, 2016
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[Cass R. Sunstein] Why it pays to tell Americans who they are
When President Barack Obama is trying to persuade Americans not to do something, he has a go-to line: “That’s not who we are.” Whether the issue involves discrimination, immigration, torture, criminal violence or health care, he invokes the nation’s very identity. And he likes to follow it by adding, “We are better than that.” In this way, throughout his political career, Obama has embraced the American tradition of rugged individualism, while arguing that it has always been bound by “an endurin
ViewpointsJuly 31, 2016