Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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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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An increasing number of K-pop idols are breaking free from big agencies. Why?
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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Korean automakers pressured to diversify supply chains as US bans Chinese tech
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[Herald Interview] Portraying a version of god for young people in 'Hadestown'
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Messaging app Line sets IPO price range
Japan-based global messaging app operator Line Corp. said Tuesday that it has set the price range of its initial public offering at between 2,700 yen and 3,200 yen ($31.60) a share, roughly matching its previously hoped-for price of 2,800 yen per share, amid increased market tumult sparked by Britain's unprecedented vote to leave the European Union.Earlier, Line said it will list its shares in Tokyo and New York next month in what could be the largest IPO by a technology company around the globe
IndustryJune 28, 2016
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Sulfuric acid leak at Korea Zinc halts maintenance work
[THE INVESTOR] A sulfuric acid leak at Korea Zinc’s plant in Ulsan on June 28 injured six workers from a subcontractor. Korea Zinc is the global number one nonferrus metal smelting company in terms of scale, productivity, and technology.According to the authorities, about 1,000 liters of sulfuric acid leaked during maintenance work, injuring six workers from a subcontractor. Three of them are reported to have sustained serious injuries. The leak was contained within the facility, and atmospheric
IndustryJune 28, 2016
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Hyundai Motor sees Brexit as threat, not opportunity
Hyundai Motor, South Korea’s largest carmaker, views Britain’s departure from the European Union as an imminent threat and not an opportunity to outpace its Japanese rivals that are expected to suffer from surging yen and tariff walls.“Internally, we view that threats from the faltering European economies are larger than opportunities presented from the stronger yen sparked by Brexit,” a source at the company told The Korea Herald. “This is because we have seen the European market as stable and
MobilityJune 28, 2016
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Seoul stocks rebound on eased Brexit woes
Korean shares advanced for a second straight session on Tuesday, rebounding from Friday's 3.09 percent plunge caused by Britain's decision to quit the European Union. The local currency also gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 9.37 points, or 0.49 percent, to 1,936.22. Some 368 million shares worth 4.36 trillion won ($3.72 billion) traded hands on the main bourse, with gainers outnumbering losers 614 to 206. Investors appear to have breathed a sig
June 28, 2016
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Labor disputes add to DSME woes
Daewoo Shipbuilding & Marine Engineering’s labor union is resisting restructuring measures out of layoff fears, adding to the woes at the country’s second-largest shipbuilder facing mountains of debt and allegations of over 5 trillion won ($4.3 billion) in accounting fraud. The union has launched an indefinite demonstration in protest, starting from late Monday. Yonhap“Creditors and the management are unilaterally pushing for the restructuring plan with no consideration of employees,” the union
IndustryJune 28, 2016
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Samsung Heavy pushes for speedy capital increase
(Yonhap)Embattled Samsung Heavy Industries Co. said Tuesday it will push for a capital increase as soon as its shareholders raise the upper limit of stock for sale in August, which is part of its 1.5 trillion won ($1.28 billion) restructuring plan. Samsung Heavy, a unit of Korea's top conglomerate Samsung Group, unveiled the self-rescue program earlier this month, including stock sales and job cuts, as it grappled with falling freight rates amid slackened global demand and tougher competition."W
IndustryJune 28, 2016
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Samsung Electronics’ Q1 operating profit to exceed W8tr: report
[THE INVESTOR] Tech giant Samsung Electronics’ operating profit is forecast to exceed 8 trillion won ($6.8 billion) in the second quarter of this year, surpassing previous market estimates. “The second-quarter revenue and operating profit will come in at 51.3 trillion won and 8 trillion won, respectively, beating market estimates,” said Lee Jae-yoon, an analyst from Yuanta Securities, adding that the firm’s IT and mobile communications business unit and consumer electronics business unit would s
IndustryJune 28, 2016
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Korean Air to offer tickets to speed skater Lee Sang-hwa for one year
Korean Air Lines Co., Korea's top air carrier, said Tuesday that it will offer business class tickets to speed skater Lee Sang-hwa free of charge for one year.The tickets are set to be provided to Lee when she participates in either an international competition or overseas training, the carrier said.Lee captured the gold medal in the women's 500 meters at both the Sochi Winter Games in 2014 and the Vancouver Winter Olympics in 2010.The sponsorship, called the excellence program, is meant to prov
SportsJune 28, 2016
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Minimum wage agreement in deadlock
[THE INVESTOR] A June 28 deadline for deciding next year’s minimum wage is unlikely to be met as labor groups and business representatives have failed to reach a consensus. The Minimum Wage Council -- consisting of business and labor representatives and government officials -- has held plenary sessions for three months since March 30 to set next year’s minimum wage. However, the parties were unable to narrow down their differences even at their last session on June 27, local news reported. Labor
IndustryJune 28, 2016
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Bizmen again seek gov't approval to visit Gaesong factory park
A group of South Korean businessmen has asked the government again to approve their plan to visit the now-shuttered joint industrial park in North Korea next week, government officials said Tuesday.Seoul's unification ministry said that 29 businessmen made the request on Monday to visit the Gaesong Industrial Complex in the North's border city of the same name, where their factories are located, next month."The government plans to not approve the group's bid," said a government official, adding
Diplomatic CircuitJune 28, 2016
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1 in 3 North Korean children undernourished: report
Nearly 1 out of 3 North Korean children in a northern province are undernourished, a U.S.-based media report said Tuesday, citing findings by the World Food Program.In its report on North Korea assistance, Voice of America quoted the United Nations organization as saying that some 32 percent of North Korean kids at child care centers in the North's Ryanggang Province are malnourished and undersized, showing the highest rate among eight North Korean provinces.The average percentage of malnutritio
North KoreaJune 28, 2016
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Korea, U.S. to discuss cooperation at cybersecurity meeting
Korea and the United States will hold a policy consultation meeting in Washington this week to discuss cooperation against the growing threat from hacking and other cybercrimes, the foreign ministry said Tuesday.The meeting will be held on Wednesday (local time) in Washington between a Korean delegation led by Shin Maeng-ho, the ambassador for the ministry's international security affairs, and U.S. officials led by Christopher Painter, the coordinator for cyber issues at the U.S. Department of S
Diplomatic CircuitJune 28, 2016