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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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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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[Editorial] Fast-aging Korea
Recent government data sounded the alarm on the need for South Korea to urgently brace itself for a rapidly aging society. Statistics Korea said that the number of citizens aged 100 or older had surged 72 percent from 2010. The figure showed that 3,159 centenarians were living in the country as of November 2015, up from the 1,835 five years earlier.As life expectancy gets longer steadily, 13.1 percent of South Korea’s 50.6 million population were 65 or older in 2015, said the state statistical
EditorialJuly 26, 2016
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NPS lending stocks worth W718b
The National Pension Service has lent out some 700 billion won ($617 million) worth of its shares to other parties, a lawmaker revealed Tuesday. NPS is South Korea’s largest investor, with 90 trillion won worth of local stocks. According to Rep. Park Yong-jin of the liberal opposition Minjoo Party, the pension fund’s stock loaning has risen steadily from an average balance of 425 billion won in 2013 to 697.9 billion in 2015. As of June 30, the balance has risen to 718 billion won, with shares in
July 26, 2016
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[Kim Seong-kon] What if humans were perceived as a virus?
It is so hot and humid these days that the weather forecast says, “Earth is like a furnace.” In fact, Earth seems to be gradually turning into an inhabitable place.While watching a Hollywood movie on TV recently, I heard a persuasive, even enlightening, line of dialogue. A character in the movie humorously quipped, “When a virus enters our body, our body temperature goes up in order to eliminate the harmful foreign entity. Likewise, global warming occurs in order to eradicate human species that
ViewpointsJuly 26, 2016
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Lotte Group founder's daughter indicted over string of corruption
The head of the Lotte Foundation and daughter of the Lotte Group's founder was indicted on a string of charges, including embezzlement and bribery, on Tuesday.The indictment marks the first time that a member of the family that runs South Korea's fifth-largest conglomerate will stand trial.The Seoul Central District Prosecutors' Office said Shin Young-ja, 73, is suspected of pocketing a total of some 3.53 billion won ($3.1 million) of kickbacks from various companies, including local cosmetics b
IndustryJuly 26, 2016
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Korean economy grows 0.7% in Q2
South Korea’s economy grew 0.7 percent in the second quarter of this year, remaining in zero percent growth territory for three straight fiscal quarters, according to the Bank of Korea on Tuesday.Even though the country’s second-quarter growth exceeded that of the first quarter when Asia’s fourth largest economy expanded merely 0.5 percent, Korea’s economy performed slightly better mostly due to improved domestic consumption backed by government policies.Other key drivers of growth such as gover
July 26, 2016
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N.K. has no plans for press conference after ARF, decision remains up to Ri: N.K. official
A North Korean official said Tuesday that the North has no plans at the moment to hold an official press conference on the sidelines of the Asia-Pacific countries' meetings underway in Laos, but it could have a chance to let its position be known before the end of the gathering.Asked if there is a press conference, the official accompanying North Korean Foreign Minister Ri Yong-ho told a group of reporters, "We don't have enough time for it, but the decision is up to the minister.""I don't know
North KoreaJuly 26, 2016
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[Lee Jae-min] Time to take hands off the wheel?
Self-driving cars are destined to be the first seismic change for automobiles since Ford introduced affordable cars in 1908. Granted, automation is already part of driving. Think about all the cruise control, blind-spot monitoring, collision warning and the like. But what companies are attempting to put on the market in the near future are driverless vehicles, with Volvo estimating that the first fully self-driving cars will be on the road by 2020.Good for us, basically. Computer-driven or robot
ViewpointsJuly 26, 2016
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Gov't says it will test THAAD radar waves again to allay health concerns
South Korea will again check the electromagnetic waves coming from the powerful radar used in the advanced U.S. anti-missile system to help allay fears about the health risks associated with the equipment, the defense ministry said Tuesday. The move comes after the Ministry of National Defense carried out a test on electromagnetic waves generated from the X-band radar system used on the Terminal High-Altitude Area Defense system stationed in Guam on July 18.In the test carried out at the U.S. mi
DefenseJuly 26, 2016
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Huawei Korea under tax probe
South Korea’s National Tax Service is conducting an investigation into Huawei Korea, the local branch of Chinese tech giant Huawei Technologies, the company said Tuesday. Investigators from the Seoul branch of the National Tax Service are currently conducting a tax audit on Huawei Korea, the firm said, calling it a regular process that takes place every five years.“The NTS has been investigating our company as part of a regular audit that takes place every five years,” a Huawei Korea spokesperso
TechnologyJuly 26, 2016
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Zafgen halts development of CKD Pharm obesity drug in U.S.
U.S.-based biopharma company Zafgen Inc. has suspended the development of beloranib, an obesity drug originally created and licensed out by South Korea’s Chong Kun Dang Pharmaceutical Corp. in 2009.Zafgen’s decision, announced on July 19, came six months after the U.S. Food and Drug Administration asked the company to halt the drug’s clinical trials following the death of two patients.(123RF)Beloranib, administered through an injection, had been considered a promising treatment for Prader-Willi
IndustryJuly 26, 2016
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Seoul shares rise to yearly high on tech gains
South Korean shares closed at their highest level this year on Tuesday as investors snapped up major tech shares, helped by foreigners loading for a 14th consecutive session. The Korean won fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 15.02 points, or 0.75 percent, to close at 2,027.34. Trade volume was slim at 332.2 million shares worth 3.92 trillion won ($3.45 billion), with winners outnumbering losers 474 to 320.Market analysts say the KOSPI has hovered
July 26, 2016
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Kia Motors unveils new Carens
[THE INVESTOR] Kia Motors, South Korea’s second-largest automaker, released its new version of compact minivan Carens that features more power, dynamic exterior and affordable price tag on July 26. The new Carens, better known as Ronda in overseas markets, shares the same external dimension with the older model launched in June 2015. “We improved the design of the radiator grille, head lamps, rear lights and wheels to emphasize strong appearance and voluminous body,” a company official said. Kia
MobilityJuly 26, 2016
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Hyundai Motor posts 0.6% increase in Q2 operating profit
[THE INVESTOR] Hyundai Motor, the world’s fifth-largest carmaker, said it posted a second-quarter operating profit of 1.76 trillion won ($1.54 billion), up 0.6 percent on-year. Compared to the first quarter of 2016, operating profit rose 31.2 percent, the carmaker said Tuesday.Sales rose 8.1 percent to 24.67 trillion won -- the highest in terms of second-quarter figures. In total Hyundai sold 1,285,860 units during the cited period. “An improved sales mix, combined with increased car finance rev
MobilityJuly 26, 2016