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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Middle East’s big AI push lures Korean tech firms
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Arrival of fall calls for more outdoor festivals
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New Fifty Fifty off to strong start
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Assembly to review disputed appointment of national soccer team coach
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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Woori Bank Q2 net income jumps 35%
[THE INVESTOR] Woori Bank, South Korea’s largest bank in terms of consolidated assets, posted a 35 percent on-year surge in its second-quarter net profits as its exposure to debt-ridden companies abates.The lender’s second-quarter net income surged to 307 billion won (US$269.81 million), up 35.8 percent on-year. “Given that Woori spent some 92 billion won to carry out an early retirement program during the second quarter, it posted net profit of over 400 billion won for two consecutive quarters,
July 19, 2016
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Committee for UHD broadcasting launched in Korea
[THE INVESTOR] The Korea Communications Commission, the state media regulator, said that a preparation committee for starting ultra-high definition broadcasting in Korea was launched on July 19.The committee consists of 14 members from the government agencies, TV makers, research institutes, and academia, including the Ministry of Science, ICT and Future Planning, Samsung Electronics, and LG Electronics.Lee Ki-joo, a standing committee member of the KCC, and Second ICT Vice Minister Choi Jae-yoo
TechnologyJuly 19, 2016
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Hyundai Heavy clinches additional ITER component deal
[THE INVESTOR] Hyundai Heavy Industries has won an additional contract to supply two vacuum vessel sectors, the key component of the multibillion-dollar project International Thermonuclear Experimental Reactor, the company said on July 19. Under the US$101.6 million deal, HHI will build two of the nine vacuum vessel sectors (No.7 and 8) that make up the main body of the ITER, the world’s largest nuclear fusion machine being built in Cadarache, southern France. Each vacuum vessel sectors measures
IndustryJuly 19, 2016
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U.N. requests N. Korea to release fate of 14 abductees including former KAL crew
The United Nations has officially called on North Korea to release information on the fate of 14 people held captive in the reclusive country, including a South Korean plane crew kidnapped 47 years ago, a U.S.-based media outlet said Tuesday. Radio Free Asia said the U.N. Working Group on Enforced or Involuntary Disappearances also requested the Pyongyang regime confirm whether the five North Korean defectors who were forcibly taken back to North from China and six people who were arrested in No
North KoreaJuly 19, 2016
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Woori Bank Q2 net jumps 36% on less loan-loss reserves
Woori Bank, Korea's second largest bank by assets, said Tuesday its second-quarter net profit soared 35.8 percent on-year to 307 billion won ($300 million) thanks to a decrease in loan-loss provisions.It means the bank's net profit in the first six months of 2016 totaled 750.3 billion won, up 45.2 percent from a year earlier.(Yonhap)The bank said it spent 92 billion won in one-time cost for the voluntary retirement of some employees as part of its restructuring efforts in the second quarter."Tak
July 19, 2016
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Anyang project to explore role of public art in city
Short-lived art festivals and biennales abound in Korean cities, but the city of Anyang located 20 kilometers from the capital city of Seoul seeks to create art that can have a long-lasting impact on residents’ lives. “We are interested in interacting with Anyang and the public. We have worked together with artists to find out what the parameter of the public space is, what can define public art and how we can meet the public through artworks and production,” said Joo Eun-gie, the art director o
PerformanceJuly 19, 2016
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Comfort women film to be shown in 13 Japanese cities
A Korean film depicting the tragic lives of women forced into sexual slavery for Japanese troops during World War II will get rotational screening in major Japanese cities starting this week, the film's director said Tuesday."Spirits' Homecoming" will go on a screening tour of 13 Japanese cities beginning with Tokyo on Thursday, according to director Cho Jung-lae.Cho said he changed the way of distributing the film to free community screenings after it failed to find a theater in the country.A s
Social AffairsJuly 19, 2016
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Optopac gets approval for KOSDAQ listing
[THE INVESTOR] Optopac, a South Korean electronic part manufacturer, was approved for listing on the secondary bourse KOSDAQ, the Korea Exchange said on July 19.The company will be listed on July 20, and the indicative share price has been set at 5,900 won (US$5.19). Established in 2003, the company supplies image sensors for cameras in smartphones and laptop computers. It posted 31.66 billion won in sales and a net loss of 356 million won last year. By Park Han-na (hnpark@heraldcorp.com)
July 19, 2016
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Teetering S. Korean economy hit by spreading labor dispute
[THE INVESTOR] Labor disputes are spreading across South Korean industries with Hyundai Motor and Hyundai Heavy’s unions striking on July 19, while other major unions are taking steps to follow suit. The unions of Hyundai Motor and Hyundai Heavy Industries on July 19 staged a partial strike, collaborating in industrial dispute for the first time in 23 years. Hyundai Motor’s union is demanding a 7.2 percent raise and 30 percent of 2015 net profits as bonus of employees, among other conditions. Hy
July 19, 2016
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Saenuri faction leader in hot water over leaked tape
A taped telephone conversation between top lawmakers from the ruling party’s mainstream faction and a former lawmaker has sparked controversy over suspected influence-peddling during the party’s nomination for the April general election.According to the leaked conversation reported by local media on Monday, Reps. Choi Kyung-hwan and Yoon Sang-hyun -- who lead the faction close to President Park Geun-hye -- demanded a fellow member to change his constituency citing it is the president‘s intent.Re
PoliticsJuly 19, 2016
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Marriage losing appeal for Korean women
For Kim Eun-jin, a 36-year-old working mother in South Korea, being at work is her “break.” She gets up at 4:30 a.m. every morning, leaves for work and returns home at about 8:30 p.m. What awaits after her long commute -- she lives in Incheon and works in Seoul -- are dirty dishes and unfolded laundry. She makes dinner, does the dishes, mops the floor and folds the laundry. Then she spends about 30 minutes talking to her kids -- one 8, the other 12 -- who are looked after by Kim’s mother-in-law
Social AffairsJuly 19, 2016
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Stielike concerned about Chinese fans outnumbering Koreans in World Cup qualifier
Korean men's football team head coach Uli Stielike said Tuesday he is worried about Chinese fans outnumbering home supporters when his side hosts the neighbors in the FIFA World Cup qualifier in September.For the final Asian qualifying round for the 2018 FIFA World Cup, where 12 teams compete, Korea are paired with Iran, Uzbekistan, China, Qatar and Syria in Group A. Korea will open the final round on Sept. 1 against China at home and face Syria five days later on the road.Korea have collected 1
SportsJuly 19, 2016