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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Park to invite all Saenuri Party lawmakers for luncheon this week
President Park Geun-hye will invite all lawmakers of the ruling Saenuri Party to her office Cheong Wa Dae for a luncheon meeting later this week, the party's floor leader said Tuesday, in a move to ensure their support for her management of state affairs.Saenuri floor leader Rep. Chung Jin-suk announced that all of the party's 129 lawmakers have been invited to a luncheon, which is scheduled to be held at the presidential office on Friday. This photo, taken on July 5, 2016, shows President Park
PoliticsJuly 5, 2016
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Troubled shippers, shipbuilders suffer rating downgrades
Korea's troubled firms, mostly shipbuilders and shippers, have faced rating downgrades amid their deepening financial woes and ongoing corporate overhaul efforts, industry sources said Tuesday.According to Korea Ratings Corp., a total of 31 firms suffered a rating downgrade in the first half of the year, compared with 43 companies a year earlier.But Daewoo Shipbuilding & Marine Engineering Co. and other shipbuilders, along with the country's major shipping lines such as Hanjin Shipping Co. saw t
IndustryJuly 5, 2016
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Korea to seek closer ties with foreign nuclear firms for exports
Korea will increase its partnerships with foreign atomic energy companies as part of efforts to expand the exports of its nuclear technology, a government ministry said Tuesday after a meeting with related public firms here.Vice Trade, Industry and Energy Minister Woo Tae-hee presided over the session in Seoul joined by representatives from the Korea Electric Power Corp. and the Korea Hydro & Nuclear Power Co.. This photo, provided by the Ministry of Trade, Industry and Energy, shows Vice Minis
Diplomatic CircuitJuly 5, 2016
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Gov't to issue approval to new budget carrier Air Seoul
The government plans to give a final approval to Air Seoul, a new low-cost carrier of Asiana Airlines Inc., this week for operations, an official said Tuesday.The Ministry of Land, Infrastructure and Transport is set to issue an Air Operator Certificate to Air Seoul on Wednesday, said Kang Jung-yun, an official handling the issue at the ministry.Winning the certificate is the final step before a carrier can begin its transport operations.Air Seoul plans to begin four daily flights starting next
Social AffairsJuly 5, 2016
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Weather agency issues downpour warning for Seoul
Korea's weather agency issued a heavy rain warning for Seoul and central regions of the peninsula Tuesday.The daily precipitation of the capital city was 52.5 millimeters as of 9 a.m.The Korea Meteorological Administration issues downpour warnings when the amount of rainfall within six hours is predicted to be 110 mm or over. The warning is also issued when the total amount of precipitation is expected to be 180 mm or more within 12 hours.The torrential rain warnings have also been issued for In
NationalJuly 5, 2016
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Korean biotech firms challenge gene medicine market
Korean biotech companies are working their way into the global gene-based medicine market that is estimated to exceed $790 million next year, an institutional report and researchers said Tuesday.Kolon Life Science, Sillajen and Viromed are conducting four of the 25 phase-3 clinical trials for gene medicine under way around the globe, with Kolon pursuing what may be the world's first such medicine for osteoarthritis.According to a report from the Biotech Policy Research Center, the global gene me
TechnologyJuly 5, 2016
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Korea to foster service industry as new growth engine
The Korean government said Tuesday that it will foster the local service industry over the coming five years as the country's new growth engine, while the country's backbone manufacturing sector has been struggling for years amid faltering exports.In an economy-related ministers' meeting held in Seoul, the government endorsed the plan to give higher tax rewards and research and development incentives to the service sector in a way that transforms the nation's manufacturing-oriented economy."The
BusinessJuly 5, 2016
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USFK veterans to launch fraternity group this year
Former United States servicemen who served in Korea will launch a fraternity group this year with a membership hovering at some 3.5 million veterans, local defense officials said Tuesday.Efforts are underway to establish the Korea Defense Veterans Association sometime within this year under the sponsorship of diplomatic and defense authorities of both the U.S. and South Korea, an official source said. The KDVA, if established as planned, will help bring together U.S. Forces Korea veterans who w
Diplomatic CircuitJuly 5, 2016
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Budget carrier Air Seoul ready for take-off
[THE INVESTOR] Air Seoul, Asiana Airline’s new low-cost carrier, has passed all government safety inspections and will begin services next week. The Ministry of Land, Infrastructure and Transport said on July 5 that it has given its final approval to Air Seoul and will issue an Air Operator Certificate the following day. The ministry had formed a team for document-screening and onsite inspection to check the airline’s facilities and other operational capabilities for the past five months. Starti
IndustryJuly 5, 2016
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Financial watchdog seeks foreign banks’ support in Brexit countermeasures
[THE INVESTOR] Financial Supervisory Service Governor Zhin Woong-seob on July 5 called on foreign financial institutions to cooperate with the government in responding to any fallout from UK’s departure from the European Union. “Cooperation between the supervisory agency and foreign financial companies is needed to minimize negative impact of Brexit,” Zhin said at a meeting with the CEOs of the 15 foreign financial companies’ Korean operations. FSS Governor Zhin Woong-seobHe added that the gover
July 5, 2016
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Liquor brands rely on top celebrities for marketing
Liquor companies, barred from public spaces and airtime, are resorting to top celebrities for maximized advertisement effect, according to industry officials Tuesday.The government has been tightening regulations on liquor ads, revising the law on national health improvement. Recent changes include barring liquor ads on TV from 7 a.m. to 10 p.m. to limit minors' exposure to them. Advertising on radio, the internet and public transportation are also restricted.Liquor companies are trying to work
IndustryJuly 5, 2016
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Korean shares open lower on institutional selling
Korean shares opened a tad lower Tuesday as institutions and foreign investors sought to lock in early gains.The benchmark Korea Composite Stock Price Index lost 5.15 points, or 0.26 percent, to 1,990.15 in the first 15 minutes of trading. Foreigners and institutional investors were net sellers.The KOSPI gained 0.03 percent Monday, further recovering from losses sparked by Britain's vote to leave the European Union two weeks ago. The index had gained 3.19 percent last week. Large market caps tra
July 5, 2016
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Doosan Bobcat applies for IPO approval in Korea
Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, has applied for preliminary approval for its initial public offering planned for this year, the country's main bourse said Tuesday.Doosan Infracore Co. and Doosan Engine collectively own a majority 78.4 percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. Doosan Bobcat is a leading player in the small-sized construction machinery sector in the United States and Europe, the main exchange
IndustryJuly 5, 2016