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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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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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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N. Korean ferry to sail on 3-country tour route: report
The North Korean passenger ferry Mangyongbong will be put on a China-North Korea-Russia tour route next month, a Washington-based broadcaster reported Tuesday. "Tourism officials (from the three nations) agreed on the trilateral project at their meeting in (the North Korean special economic zone of) Rason last Tuesday," Radio Free Asia quoted a tourism bureau official from the far eastern Chinese city of Hunchun, Jilin Province, as saying.The officials also agreed to make use of the North Korean
North KoreaJuly 19, 2016
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Presidential office denounces allegations involving Park's aide
The presidential office Cheong Wa Dae on Tuesday denounced allegations of murky connections between a senior presidential secretary, a prosecutor and two businessmen who have been involved in high-profile corruption scandals.The presidential office warned against any "political offensive" that would hurt the government's efforts to tackle a series of economic and security challenges facing the nation. Photo taken on March 7, 2016, shows Woo Byung-woo, top presidential secretary for civil affairs
PoliticsJuly 19, 2016
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World-class Mexican Museum being built in San Francisco
SAN FRANCISCO (AP) - San Francisco is getting another cultural treasure -- a world-class museum to showcase the largest collection of Mexican and Latino art in the nation. A dedication ceremony is set for Tuesday for the new Mexican Museum -- the realization of a dream by Mexican-American artist Peter Rodriguez, who opened the city's first museum for Latino art in a Mission District storefront in 1975. Rodriguez started a collection that now has more than 16,000 pre-Columbian, colonial and conte
CultureJuly 19, 2016
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PM says THAAD deployment does not require parliamentary nod
Prime Minister Hwang Kyo-ahn on Tuesday said the deployment of an advanced U.S. missile defense system does not call for parliamentary approval, reiterating his previous stance on the matter despite demands being made by some opposition lawmakers."Currently, there are numerous weapon systems deployed by U.S.military in Korea. They are stationed here on the basis of the Seoul-Washington defense agreement," Hwang said during a parliamentary session.He added that the decision to deploy the Termina
DefenseJuly 19, 2016
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[EQUITIES] LG Display to improve profits on growing panel prices
[THE INVESTOR] Samsung Securities on July 19 predicted that LG Display would benefit from growing panel prices in the latter half of this year, raising the target price from 24,000 won (US$21) to 33,000 won per share. The brokerage said Chinese rivals still have problems in beefing up larger liquid-crystal display panels, while the planned suspension of Samsung Display’s another LCD plant would cause a supply shortage to benefit LG Display. Considering the recent positive signs, the brokerage el
July 19, 2016
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BOK chief stresses accommodative monetary policy
[THE INVESTOR] The head of South Korea’s central bank has emphasized the need for an accommodative monetary policy to cope with a drawn-out economic slump but cautioned against its potential adverse impact causing financial instability.“It’s necessary to implement monetary policy in a direction that supports the recovery of a growth trend and also to pay keen heed to risks to financial stability,” Bank of Korea Gov. Lee Ju-yeol said in an international forum on July 19. BOK Gov. Lee Ju-yeolHe ci
July 19, 2016
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Korean biosimilars make inroads into Europe
[THE INVESTOR] Propelled by Samsung Bioepis and Celltrion, South Korean biopharmaceutical companies are gaining a foothold in Europe with their biosimilars, cheaper copycat versions of biologics. Celltrion’s Remsima -- biosimilar replication of rheumatoid arthritis treatment drug Remicade -- and Samsung Bioepis’ Benepali -- biosimilar copy of Amgen’s rheumatoid arthritis treatment Enbrel – along with Flixabi, another Remicade biosimilar, are already selling in Europe, one of the world’ largest m
IndustryJuly 19, 2016
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Construction worker killed in Seoul building collapse
A construction worker died in a sudden building collapse in Hongeun-dong, Seoul, Monday. The 57-year-old victim surnamed Baek was found unconscious 4 meters from the building exit after a six-hour rescue effort, according to the Seodaemun-gu Fire Department. Baek was taken to hospital but did not survive. (YTN News YouTube Capture)Seodaemun-gu Fire Department had deployed 175 rescue operators to save Baek. However, the operation only began after cutting off the electricity in the adjacent area.
Social AffairsJuly 19, 2016
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Foundation for former comfort women to be launched next week: source
A foundation dedicated to helping Korean women who were sexually abused by Japan during its colonial occupation period (1910-45) will be launched next week, an informed source said Tuesday.In December, Korea and Japan reached a landmark deal in which Tokyo apologized for its colonial-era atrocities and agreed to provide 1 billion yen ($9.6 million) for the creation of a foundation aimed at supporting the surviving victims, euphemistically called comfort women. "Preparations have been made to lau
Social AffairsJuly 19, 2016
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HHI to build training ship for Navy
[THE INVESTOR] Hyundai Heavy Industries will build a 4,500-ton training ship for the South Korean Navy by 2020, the Defense Acquisition Program Administration said on July 19. “A conference on launching the training ship development program was held with officials from Hyundai Heavy, military and other concerned organizations in attendance,” the DAPA said. “The basic development plans, detailed schedule and other elements were discussed.” The DAPA signed on HHI for the 260 billion won (US$ 228 m
IndustryJuly 19, 2016
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E-Land plans to add rental costs to Kim’s Club takeover deal
[THE INVESTOR] E-Land Group is in the final stages of negotiations with US private equity giant KKR to include the rental costs of its local retail chain Kim’s Club branches to a deal to sell over 70 percent stake in the hypermarket, according to sources on July 19. E-Land is pushing KKR, which was picked as the preferred bidder to acquire Kim’s Club in late March, to pay some 100 billion won (US$87.60 million) for five years of rental costs of the hypermarket franchise’ 37 branches in advance,
July 19, 2016
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Chairman of CJ Group, in custody for tax evasion, drops reappeal
The ailing chairman of Korea's CJ Group, Lee Jay-hyun, who is now in custody on charges of embezzlement and tax evasion, dropped the reappeal on Tuesday, the group said. The decision by Lee, who was sentenced to two and a half years in prison, raised the possibility that he could be included into next month's planned special pardon by President Park Geun-hye.If Lee is included into the planned pardon, his guilt verdict should be upheld. CJ Group, a food and entertainment conglomerate, said Lee d
IndustryJuly 19, 2016
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Korean shares down in late morning trading
Korean shares traded lower late Tuesday morning, on losses in automakers and some tech stocks.The benchmark Korea Composite Stock Price Index shed 9.1 points, or 0.45 percent, to 2,012.01 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics adding 0.53 percent.Global chipmaker SK hynix shed 2.29 percent, and POSCO, the country's leading steelmaker, dropped 3.29 percent.Top automaker Hyundai Motor fell 1.14 percent, and its smaller affiliate Kia Motors traded 0.85 perce
July 19, 2016
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8-term Saenuri lawmaker not to join leadership race
Rep. Suh Chung-won, an eight-term lawmaker of the ruling Saenuri Party who has been supportive of President Park Geun-hye, said Tuesday he will not compete in the party's leadership race.Political pundits have been watching closely to see if Suh will compete in the race for the chairmanship of party slated for August amid the on-going factional rivalry among lawmakers.So far, six lawmakers are vying to become the new chairman, but Suh has been seen as the favorite among the potential contenders.
PoliticsJuly 19, 2016
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Korea to strengthen anti-missile system in Seoul metropolitan area
Korea will beef up its anti-missile system in the Seoul metropolitan areas by 2018 to counter possible missile attacks from North Korea, its defense ministry said Tuesday. The Ministry of National Defense is in the process of upgrading the PAC-2 Patriot anti-missile system at a military base in Gangwon Province into the more effective PAC-3 Patriot system which employs "hit-to-kill" technology that has no warhead, a ministry official said. This undated computer graphic image shows a PAC-2 Patri
Social AffairsJuly 19, 2016
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LG Electronics launches W40m OLED TV
[THE INVESTOR] LG Electronics on July 19 unveiled a new 77-inch organic light-emitting diode TV with a hefty price tag of 40 million won (US$35,000), the latest model of its ultra-premium Signature brand that was launched in March. LG said it plans to launch the newest TV in phases in other markets such as North America, Europe and Asia with aims to strengthen its leadership in the premium TV market. LG Electronics' new 77-inch organic light-emitting diode TV / LG ElectronicsThe highest-priced O
TechnologyJuly 19, 2016
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Korea’s first generation start-up entrepreneur acquires Cyworld
[THE INVESTOR] Jeon Je-wan, a Korean first generation start-up entrepreneur, has acquired Cyworld, a social networking service considered a trailblazer in the SNS sector in Korea.Cyworld said on July 19 that Jeon, the head of streaming service Air, has recently taken over the firm after acquiring 100 percent stake in the company previously held by 29 shareholders. The exact cost of the takeover deal was not revealed, but it is estimated to be less than 1 billion won ($881,000).Jeon founded Web p
TechnologyJuly 19, 2016