Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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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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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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Samsung, top banks to create W2tr green growth fund for SMEs
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Malnutrition cases nearly triple in last 5 years
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KFA Chair denies unfair hiring of national coach
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What will Yoon, Han talk about at dinner?
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Vietnamese murder suspects to arrive in Korea
Two Vietnamese fishermen accused of murdering two Koreans aboard a vessel in the Indian Ocean were brought to Korea Thursday to face trial, the foreign ministry said.The suspects, both aged 32, are accused of killing the 43-year-old captain and 42-year-old engineer of the deep-sea fishing vessel Kwang Hyun 803 in waters near Seychelles on June 20.They arrived at Incheon International Airport later under the escort of Coast Guard officers."After holding active diplomatic negotiations with the rel
Social AffairsJune 30, 2016
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Seoul stocks open higher on US gains, stimulus steps
South Korean shares opened higher Thursday, tracking gains in U.S. stocks amid expectations that a new stimulus package along with market stabilization steps will ease the impact of Britain's vote to exit from the European Union. The benchmark Korea Composite Stock Price Index rose 9.68 points, or 0.49 percent, to 1,966.04 in the first 15 minutes of trading.The main index almost wiped out a sharp plunge sparked by the Brexit rebounding for three consecutive days on Wednesday.Investors will clos
June 30, 2016
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Coal consumption forecast to gain 2.7% this year
South Korea's coal consumption is expected to grow nearly 3 percent in 2016 from a year earlier, a report said Thursday, despite government efforts to cut back on coal-fired power generation to tackle growing concerns over fine dust.According to the report by the Korea Energy Economics Institute, the country's coal consumption will likely climb 2.7 percent this year from 2015 on increased demand from thermal power stations, with its total energy demand rising 1.5 percent on-year to 289 million t
IndustryJune 30, 2016
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Korea needs bold deregulation to spur growth
South Korea should ramp up efforts to ease regulations on its labor, corporate and financial sectors to help stimulate the sputtering economy, an expert said Thursday."The level of deregulation for the sectors has not improved much over the past 14 years," Choi Jin-woo, a professor who teaches at Korea University in Seoul, said at a seminar. "The country should push for stronger deregulation to induce tangible economic growth."The Korea Economic Research Institute under the Federation of Korean
June 30, 2016
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U.S.-Korea FTA effective in increasing American exports: U.S. report
The free trade agreement between the United States and South Korea resulted in an increase of $4.8 billion-$5.3 billion in total American exports, the second-largest among a total of 13 free trade deals the U.S. has concluded, the U.S. trade agency said in a report Wednesday.The International Trade Commission report shows that the Korea-U.S. pact, often dubbed "KORUS FTA," is highly effective in increasing U.S. exports, contrary to claims by Republican presidential candidate Donald Trump that th
World BusinessJune 30, 2016
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U.S. rejects China's concern about THAAD
The United States reiterated Wednesday that the THAAD missile defense system it wants to place in South Korea is a purely defensive system that won't affect China's strategic deterrent.The State Department gave the reaction in response to Chinese President Xi Jinping's expression of opposition to the potential deployment of a Terminal High Altitude Area Defense system in South Korea aimed at defending against missile threats from North Korea.Xi said during a meeting in Beijing with visiting Sout
DefenseJune 30, 2016
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N.K. leader given new state title at key parliamentary meeting
North Korea's parliament on Wednesday bestowed a new state title upon the North's leader Kim Jong-un, Pyongyang's state media said, in a move aimed at helping bolster his one-man rule.The Supreme People's Assembly, the country's rubber-stamp parliament, decided to appoint the North's leader as the chairman of a newly-created state apparatus, tentatively named the commission on state affairs, according to the North's state TV broadcaster. (Yonhap)The assembly was held in a follow-up to the congre
North KoreaJune 30, 2016
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Samsung joins project to develop smart grid in Jeju
[THE INVESTOR] Tech giant Samsung Electronics said June 30 that it would join a project to build a tourist complex on Jeju Island. The tech giant said it has joined hands with land developer JCC to develop a smart energy grid fitted with environmentally friendly energy management systems in the Jeju Ora Tourist Complex, which is scheduled to be built by 2021. The resort to be built on 3.6 million square meters of land by 2021 will feature 7,650-seat convention center, hotels, condos, shopping ma
TechnologyJune 30, 2016
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SsangYong Cement Industrial’s largest shareholder consolidates grip
[THE INVESTOR] SsangYong Cement Industrial’s largest shareholder Hahn & company has acquired the entire stake owned by the second largest stakeholder Taiheiyo Cement, it announced on June 29. The investment company established by a private equity fund manager purchased 25,989,010 shares from the holding company of the Japanese cement company for 450 billion won ($388.6 million), increasing its stake to 79.2 percent from 46.8 percent. This transaction will prevent any possibility of conflict ov
IndustryJune 30, 2016
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Conglomerates abusing CSR firms to tighten ownership
[THE INVESTOR] South Korean conglomerates are on high alert following the proposal of a bill limiting the voting rights of their shares in affiliated public goods corporations.This could be a major blow to the large industrial groups since many of them maintain their control over key affiliates via such corporations. “These public interest corporations have not spent a dime on promoting public interest. Their sole purpose is to perpetuate the current ownership structure of the chaebol,” said Kim
IndustryJune 30, 2016
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Korea’s industrial output picks up in May
[THE INVESTOR] South Korea’s industrial output swung back to growth in May on the back of increased production in chips and petroleum products, a government report showed on June 30. According to Statistics Korea, total output increased by 1.7 percent from April, reaching an all-time high in 15 months. It jumped 4.8 percent from May 2015. Pixabay.comThe mining, manufacturing, gas and electricity industries led the increase, logging an output growth of 4.3 percent last month from a year ago. It
June 30, 2016