Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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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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[Exclusive] Democratic Party of Korea forms US election task force
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[Grace Kao] NewJeans fights Hybe for their survival
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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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Seoul seeks to improve foreign nanny program after two abscond
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Environment laws to be eased for Pyeongchang-Gangneung area to boost development
[THE INVESTOR] The government is to ease environmental regulations concerning Pyeongchang-Gangneung area of Gangwon Province as part of the drive to boost investment and trade.According to the pan-government plans revealed on July 7, environment-related regulations near Pyeongchang, Gangwon Province, will be eased, removing barriers hampering development projects in the area. Wind turbines located in Daegwallyeong. Environmental regulations will be partially lifted in the area to allow developm
IndustryJuly 7, 2016
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N.K. claims it has capacity to counter U.S. new military strategy
North Korea claimed Thursday that it has the full capacity to counter the U.S.' new military strategy, warning that Washington will face dire consequences if it raises tension on the divided peninsula.A spokesman at the Institute for American Studies of the North's foreign ministry condemned Washington's "Third Offset Strategy," which aims to maintain the U.S. military's superiority over growing threats by building up the country's precision weapons capabilities and adopting new operational conc
North KoreaJuly 7, 2016
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[Super Rich] The pet superstars of the superrich
The local pet market -- or “petconomy”-- is growing, and along with it, the pets of the superrich are rising to the spotlight. Korea’s pet superstars of the superrich include two famous poodles called Mari and Molly owned by Chung Young-jin, the vice chairman and CEO of the Shinsegae Group, Korea’s largest retailer Shinsegae Group vice chairman and CEO Chung Young-jin with his pet dog Mari in this photo posted on his Twitter account.The two poodles rose to popularity when Mari was first featur
IndustryJuly 7, 2016
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Pro-park lawmaker to run for ruling party's chairmanship
A lawmaker of the ruling Saenuri Party loyal to President Park Geun-hye said Thursday he will run in the leadership election slated for August, adding his advantage as a conservative lawmaker representing a liberal, opposition-controlled region will help bring different voices together."I only have one goal in becoming party head," Rep. Lee Jung-hyun said. "It is to change South Korea's politics. I will make efforts to protect the country, the public, and the value of our nation." Rep. Lee Jung-
PoliticsJuly 7, 2016
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Military suspends flight of Surion choppers over defective gearbox
Korea's military has suspended the flight of locally-developed KUH-1 Surion helicopter after defects in the imported gearbox were reported following the deadly crash of a Norwegian chopper using the same European component, the defense procurement agency said Thursday.The EC-225 Super Puma chopper of Norwegian oil company Statoil crashed off the Scandinavian country's southwest coast on April 29, killing all 13 people aboard. Korea has recently been informed by the chopper's manufacturer, Airbus
DefenseJuly 7, 2016
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Components to drive up Samsung’s Q3 profits
[THE INVESTOR] Expectations are high on Samsung Electronics’ third-quarter profits after the company released its second-quarter earnings guidance that beat analyst estimates on July 7. According to its tentative earnings report, the Korean tech giant posted more than 8 trillion won (US$7.6 billion) in operating profits and 50 trillion won in sales in the April-June period. Analysts say the company will continue the current momentum in coming months. Samsung Electronics’ headquarters in Suwon, G
TechnologyJuly 7, 2016
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Naver most-favored employer again among college students
Korea's largest internet portal Naver is the most-preferred employer among college students this year, the second consecutive year of the honor for the company, a survey said Thursday.Job information site Incruit canvassed 1,357 college students in search of jobs and found 10 percent of them named Naver as their No. 1 choice among 160 firms to pick from. The company was generously assessed for its growth, development potential and corporate vision, Incruit said.The next choice was CJ Cheiljedang
IndustryJuly 7, 2016
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Samsung, SK hynix to benefit from rise of DRAM prices in Q3
[THE INVESTOR] With DRAM prices hitting rock bottom, the global DRAM market has been in the doldrums over the past couple years. According to a market report on July 7, however, the DRAM market will likely pick up steam in the July-September period thanks to increasing demand in the mobile and server markets.“The downward trend in DRAM prices over the past two years has reversed in June,” said DRAMeXchange in its recent report, forecasting the price increase rate would be in the range of between
TechnologyJuly 7, 2016
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Visitors wearing hanbok to get 10 pct off at restaurants in Seoul
Visitors wearing hanbok will receive a discount at restaurants in downtown Seoul where famous tourist spots are clustered, starting next month, a district ward office said Thursday.The Jongno Ward Office said it will recruit restaurants in the region to participate in the campaign and select over a hundred of them to provide a 10 percent discount on all dishes -- and 20 percent off for certain dishes -- to those wearing the traditional attire.Chinese tourists pose for a photo with two South Kore
Social AffairsJuly 7, 2016
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Coway recalls water purifiers containing nickel
[THE INVESTOR] Water purifier rental company Coway has decided to recall its ice water purifiers amid public outcry over the company’s cover-up of defective products containing nickel. “We deeply apologize to consumers regarding some of the ice water purifiers,” the company said in a statement on July 6. “We decided to compensate all buyers of the products to alleviate their concern.”The official apology posted by Coway on its website.The company said it will recall all three disputed models --
IndustryJuly 7, 2016
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Sempio Foods turns to holding company system
[THE INVESTOR] Sempio Foods has announced that it will split the company into a holding company Sempio and an operating company Sempio Foods. The holding company will be listed again.In accordance with the regulation that bans heading both holding company and operating company, Park Jin-seon, who has been co-CEO alongside his father Park Seung-bok, resigned from the post. As the eldest son and the largest shareholder of the company, Jin-seon has been the de facto manager of Sempio and will take
IndustryJuly 7, 2016
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Korean stocks up 0.97 pct in late morning trade
Korean shares were up sharply late Thursday morning as foreign investors turned to buying, one day after their massive selling led to a plunge in the local stock market.The benchmark Korea Composite Stock Price Index added 19 points, or 0.97 percent, to 1,972.12 as of 11:20 a.m.On Wednesday, the index closed 1.85 percent lower from the previous session as foreign investors ended their five-day buying streak and dumped 426.5 billion won ($369 million) worth of local shares.As of 11:20 a.m. foreig
July 7, 2016
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Gov't, Saenuri agree to cut interest on tuition loans
Korea's education ministry and the ruling Saenuri Party agreed to cut interest rates on tuition loans to ease the financial burdens of students, the parliament's education committee said Thursday.Following the decision, the interest rates on tuition loans will be revised down to 2.5 percent compared to the current 2.7 percent. The move will help students save 16.5 billion won ($14.2 million) annually, the committee said. The policy will go into effect starting the second semester of 2016. 123rf.
PoliticsJuly 7, 2016
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Chinese tourists are biggest foreign shoppers in Seoul: survey
Chinese tourists are the biggest shoppers in Seoul by spending an average of more than 2 million won ($1,730) per person on purchases, a think tank survey on foreign shopping in the country's capital said Thursday. According to the outcomes of the poll of 1,045 foreign tourists who visited the capital last December, they spent an average 1.06 million won each on shopping. The Seoul Institute conducted the survey. Chinese tourists were the biggest spenders with 2.13 million won per capita on aver
July 7, 2016
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Virtual reality cluster planned for Seoul
[THE INVESTOR] A virtual reality cluster will be formed in western Seoul, and up to 30 percent of related R&D costs will be tax exempt, government plans showed on July 7.According to the plans drawn up as part of the government’s strategy for boosting trade and investment, a VR cluster will be set up in Seoul’s Digital Media City and 60 billion won (US$ 51.8 million) will be invested in the field until the end of next year. The fund will be raised in equal parts by the government and the private
IndustryJuly 7, 2016