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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[Exclusive] Democratic Party of Korea forms US election task force
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Middle East’s big AI push lures Korean tech firms
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Seoul seeks to improve foreign nanny program after two abscond
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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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Imports of European cars soar on Korea-EU FTA
Imports of European cars have grown at a faster pace than exports of Korean cars to the European market since Seoul's free trade agreement with the European Union went into force five years ago, industry data showed Tuesday. Outbound shipments of Korean autos to the EU rose 28.6 percent from 2010 to 383,698 units in 2015, while the registration of European cars here skyrocketed 233.2 percent during the period to 197,396 units, according to the data compiled by the Korea Automobile Manufacturers
BusinessJuly 5, 2016
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[DECODED] Can Genesis survive in the luxury car market?
[DECODED] Hyundai Motor’s aspirations to separate its premium brand Genesis from the globally recognized budget Hyundai image may take much longer than the company expects, market experts said. The nation’s largest automaker plans to completely separate Genesis by 2020 with six models so that luxury-seeking consumers no longer associate it with the cheap and mass-produced Hyundai brand when buying Genesis. “More than 10 years is expected for Genesis to be recognized as a truly separate brand fro
MobilityJuly 5, 2016
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Nexon acquires stakes in server developer
[THE INVESTOR] South Korea’s top game developer Nexon said on July 4 that it has bought stakes in I Fun Factory, a game server engine developer, without disclosing the exact number of shares acquired.As a strategic investor, Nexon will strengthen its partnership with the company in various sectors by applying I Fun Factory’s game server engine technology into its game development and other services. “I Fun Factory has a competitive edge in the server engine sector ... we will closely cooperate
TechnologyJuly 5, 2016
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[ANALYST REPORT] POSCO: Separate earnings solid, but consolidated results to disappoint
Consolidated OP of W676bn, 10.7% below consensus We believe separate 2Q16 OP of W652bn (+12% QoQ, +7.3% YoY) will miss our previous estimate by 9.3% and consensus by 3%. Due to expansion work at theGwangyang #5 blast furnace (from 3,950 cubic meters to 5,500 cubic meters), 2Q16 shipments should reach only 8.76mn tonnes; shy of our previous estimate of 8.96mn tonnes and the biggest reason for the lower OP outlook. Meanwhile, consolidated OP should reach W676bn (+2.5% QoQ, -1.5% YoY), 16.3% below
July 5, 2016
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Samsung willing to learn from Google
[THE INVESTOR] Samsung Electronics on July 5 aired a 20-minute video, titled “Samsung Software Competitiveness Naked,” lamenting about its lack of software prowess directly comparing it with that of the US Internet giant Google. The video, aired early in the morning across Samsung Group’s key affiliates, pinpointed design architecture for software as the key to success stories of software powerhouses such as Google and Facebook. “Facebook’s key competitiveness is software architecture. We also s
TechnologyJuly 5, 2016
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ESTsoft receives W10b funding to push AI business
[THE INVESTOR] Korean software developer ESTsoft, best known for its anti-virus solution ALYac, said July 4 it has secured a new funding worth 10 billion won (US$8.7 million) from local venture capitalist Atinum Investment.The new investment was made through a 5-year convertible bond that was acquired by Atinum Investment. The company said the new funding will be used mainly for artificial intelligence-related development and other security businesses. ESTsoft has poured resources into AI-based
TechnologyJuly 5, 2016
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Hyundai Motor union says wage negotiations with management collapse
The union of Hyundai Motor Co. said Tuesday its negotiations with the management over wages have collapsed, a move that could lead to a strike at the largest Korean carmaker.The union made the announcement at its meeting with the management at Ulsan, the home to Hyundai's main assembly plants, located some 410 kilometers southeast of Seoul. "There is no more patience," the union said in a message posted on its website as it strongly suggested that the unionized workers could stage a strike.Some
IndustryJuly 5, 2016
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Lotte’s Shin Young-ja faces criticism for funneling company funds to her children
[THE INVESTOR] Embattled Lotte Foundation chief Shin Young-ja and her children are expected to face public scrutiny over some 4 billion won (US$3.47 million) worth of corporate funds they are suspected to have embezzled. Shin is elder sister of Lotte Group chairman Shin Dong-bin.And the bigger issue is that Shin funneled most of the money to her kids to be used as their personal allowances. Lotte Foundation chief Shin Young-ja /The Investor(Park Hyon-koo)Through a small company formed by Young-
CompaniesJuly 5, 2016
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Tourism Ministry unveils plans for boosting tourism spending to W40tr
[THE INVESTOR] The government will form a 4,500-kilometer trail around South Korea, and introduce medical-cultural tour packages.These and other measures were included in the Ministry of Culture, Sports and Tourism’s plans for boosting the country’s tourism industry revealed on July 5. The Tourism Ministry’s plans are included in the government’s strategy for the service sector. The plans are aimed at raising domestic and foreign tourists’ spending in Korea to 40 trillion won (US$ 34.7 billion)
IndustryJuly 5, 2016
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Italian Michelin star chef wins Korean cooking contest
An Italian owner chef of a Michelin-starred restaurant won a Korean cooking contest in Milan to promote the cuisine’s globalization Tuesday.Fabrizio Ferrari, the owner of Michelin one-star restaurant Al Porticciolo 84 in Lecco, north of Milan, won the “Global Taste of Korea Contest,” according to the General Consul of Korea to Milan, which organized the event.The Italian star chef topped the contest with roasted mackerel and broiled radish delicately set in the image of a fish.The event requires
FoodJuly 5, 2016
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Conferences on disability, religion, literature to be held in Seoul
Two international conferences will be held in Seoul from July 6-8, offering an opportunity for scholars from 30 countries to explore the topics of disability, ecology and religion.“Understanding Disability Through Literature” is slated for July 6, and is to be followed by the second conference, “The Story of Ecology and Religion,” from July 7-8. Both forums will take place at the Centennial Memorial Hall of Sahmyook University.“The conferences will provide a chance to draw up the future of human
CultureJuly 5, 2016
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International Youth Fellowship hosts cultural camp
The 2016 World Cultural Camp of the International Youth Fellowship, a Christian-based global youth initiative, opened in Busan’s Haeundae Beach Sunday. Some 4,000 university students from over 50 countries, about 30 ministers from 27 countries and the presidents of 23 universities attended the opening. In its 19th edition, this year‘s camp is organized under the slogan “The Ship of Change.” The annual event takes place each summer and includes diverse programs such as lectures, cultural performa
CultureJuly 5, 2016
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Civic group launches campaign to bring 'hanbok' into daily life
A local civic group launched a campaign to incorporate "hanbok" into daily life Tuesday, proposing that the traditional Korean attire be worn to schools and workplaces once every month.The nongovernmental organization Voluntary Agency Network of Korea said it will start sending emails to schools and companies to ask for their help in designating a day to wear the traditional garment."I always found it weird that staff at hotels, restaurants and other tourism agencies never wear hanbok though the
Social AffairsJuly 5, 2016
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Hanjin Shipping starts talks with creditors over debt maturity extension
[THE INVESTOR] Ailing Hanjin Shipping has begun negotiations with foreign lenders to extend the maturity of its debts, sources said on July 4.According to local creditors, the firm started talks on the extension of repayment of 150 billion won (US$130 million) worth of debt that matures at the end of next year.It is part of ship financing debts worth over 3.2 trillion won the company borrowed from foreign financial institutions to buy vessels. The move comes as the shipping liner seeks to secure
IndustryJuly 5, 2016
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‘Uncontrollably Fond’ set for global premiere
The new KBS television series “Uncontrollably Fond” is set to air in 11 countries, according to the show’s production company Samhwa Networks at a press conference on Monday.Samhwa Networks has sold the show’s broadcasting rights to Youku Tudou, one of China’s biggest online video platforms, for approximately 280 million won ($250,000) per episode. The hit series “Descendants of the Sun” was sold to iQIYI, China’s largest online streaming website, for a similar amount. In addition, “Uncontrolla
TelevisionJuly 5, 2016
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Korea, U.S. yet to determine when, where to deploy THAAD: defense ministry
Korea and the United States have yet to decide when and where to deploy the advanced American defense shield Terminal High Altitude Area Defense, Seoul's defense ministry said Tuesday, dismissing growing media speculation over an imminent deployment decision."The THAAD deployment is being discussed by (the allies') joint working group, and based on the results of the discussion, a final decision will be made at the South Korea-U.S.-alliance level," Moon Sang-gyun, spokesman at the Ministry of Na
Diplomatic CircuitJuly 5, 2016