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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Versatility key to Olympic football squad: coach
When assembling the Korean team for the men's Olympic football tournament in Rio de Janeiro, versatility was the most important criterion for head coach Shin Tae-yong.On Monday, Korea unveiled their 18-man football squad for the Aug. 5-21 Rio Games, which included three players over the Olympic football age limit of 23. Each Olympic contestant can field up to three such players as wild cards. (Yonhap)Shin said taking 18 players to the tournament is different from taking 23 players to other major
SoccerJune 27, 2016
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Park promotes Korea's tailored welfare services
President Park Geun-hye on Monday stressed Korea's efforts to share its experience in creating social welfare services with developing nations, pointing out that such services have contributed to enhancing the quality of people's lives.In her video message to an international forum on social welfare, the president also introduced Seoul's ongoing program to provide services that are tailored to the specific needs of individuals at different life stages such as those for the elderly and the underp
PoliticsJune 27, 2016
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Korea on alert for market shocks on Brexit
[THE INVESTOR] The Korean financial market remained volatile on June 27 following the UK’s vote to leave the European Union last week, with the equity market opening with a loss on weakened sentiment.Brexit is expected to have a long-lasting impact on the global economy with Korean exports to the EU forecast to slow in the coming years, further weighing down investor confidence, hence, Korean President Park Geun-hye has called on her senior secretaries and financial authorities to increase monit
June 27, 2016
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[Editorial] Corrupt labor
The graft scandals involving the union of GM Korea show how corrupt some of the nation’s large unions are. It should serve as a reminder that we cannot eradicate labor corruption without reining in unions’ power and interference with management decisions like staff recruitment. The latest case at the local unit of the U.S. carmaker General Motors started with an investigation into bribery allegations over the company’s purchase of gifts for employees on major holidays like Chuseok and Seollal an
EditorialJune 27, 2016
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Culture ministry launches program for young artists
The government on Monday launched a program aimed at providing young, aspiring artists with the opportunity to regularly perform in public as part of its broader "Culture Day" event.The "Youth Mike" program aims to help young people achieve their dreams and grow to be professional artists by offering them a chance to perform on stage or in public places, according to the Ministry of Culture, Sports and Tourism. The artists will be able to perform and show off their skills on the last Wednesday o
Social AffairsJune 27, 2016
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[Editorial] Speaking up
National Assembly Speaker Chung Sye-gyun took helm of a legislature which had lost public trust so severely that it was often rated as one of the least respected public institutions in opinion polls. The problem was serious in the 19th Assembly and many called it “the worst-ever parliament” due to severe partisan strife that often paralyzed legislative business and involved its members’ endless series of ethical lapses. The 20th Assembly started its four-year term early this month under strong p
EditorialJune 27, 2016
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Power prices could surge by 97% if energy supply market privatized
[THE INVESTOR] Power prices could rise by 97 percent if the government opens the nation’s state-controlled energy supply market to the private sector, according to a study released on June 27. If the retail power market is privatized, electricity prices may drop in the initial phase but will rise continually, according to the report on major global economies’ policies related to the electricity supply. Under the plan announced on June 14 by the Ministry of Trade, Industry and Energy, the country
June 27, 2016
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[Jeffrey D. Sachs] The meaning of Brexit for the rest of the world
The “Brexit” vote was a triple protest: against surging immigration, City of London bankers and European Union institutions, in that order. It will have major consequences. Donald Trump’s campaign for the U.S. presidency will receive a huge boost, as will other anti-immigrant populist politicians. Moreover, leaving the EU will wound the British economy, and could well push Scotland to leave the United Kingdom — to say nothing of Brexit’s ramifications for the future of European integration.Brexi
ViewpointsJune 27, 2016
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S. Korea urges N.K. to halt making military threats
South Korea urged North Korea on Monday to halt making military threats as Pyongyang warned of a shelling attack on the South similar to the one it waged in 2010 in response to Seoul's crackdown on illegal fishing near the western sea border.North Korea on Monday condemned South Korea for its operation with the United Nations Command to repel Chinese fishing boats operating illegally in neutral waters between the two Koreas around the Han River estuary."They should stop their reckless military p
Diplomatic CircuitJune 27, 2016
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[Gita Gopinath] India’s economy after Gov. Raghuram Rajan
Raghuram Rajan’s decision not to seek a second term as governor of the Reserve Bank of India was met with shock from those of us who have been cheering on the Indian economy. While it is no secret that Prime Minister Narendra Modi’s government had its problems with Rajan, few believed that the government would take a step that so clearly undermines India’s interests.The government never liked Rajan’s insistence on pursuing interest rate cuts gradually in order to promote price stability; instead
ViewpointsJune 27, 2016
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Gold rises on Brexit worries
[THE INVESTOR] The price of gold on Korea Exchange’s gold market broke the 50,000 won (US$42.4) per gram mark for the first time on June 27, fueled by uncertainties arising from UK’s departure from the European Union.On June 27, gold closed at 50,200 won per gram, up 780 won or 1.58 percent from June 24. This is the first time the price has broken the 50,000-won mark since the KRX gold market was launched in March 2014. On June 27, gold began 1.1 percent up buoyed by private investors seeking mo
June 27, 2016
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[Cass R. Sunstein] On affirmative action, U.S. court rules for humility
In refusing to strike down a race-conscious admissions plan at the University of Texas at Austin on Thursday, the Supreme Court did more than uphold an affirmative action program. Just as important, it struck a much-needed blow for judicial modesty.The justices showed an awareness that others might know better than they do. We could use a lot more of that.The crucial part of Justice Anthony Kennedy’s majority opinion came toward the end. “Considerable deference is owed to a university,” he wrote
ViewpointsJune 27, 2016
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[Anders Aslund] What the EU must do now
The United Kingdom’s Brexit vote is arguably the greatest disaster ever to hit the European Union. Now, the EU must act fast -- not least by ending the postreferendum market turmoil -- if it is to survive.British Prime Minister David Cameron, having lost the referendum, did the obvious thing by resigning. But the other loser is the European Commission, whose president, Jean-Claude Juncker, did little to change the outcome of the Brexit vote. Not since Jacques Delors was president of the Commissi
ViewpointsJune 27, 2016
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[Albert R. Hunt] Trump, Clinton push divergent economic cures
The contempt that Hillary Clinton and Donald Trump express for each other will continue to play out in vitriolic sound bites. But their profound differences on what to do about the economy and the struggling middle class are far more important.“This election will be won by whichever candidate convinces middle-class voters they are better for their jobs and future prospects,” says Stephen Moore, a Heritage Foundation economist and Trump adviser.“This is about whether economic forces hollow out th
ViewpointsJune 27, 2016
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Iconic ’90s boy band member charged with sexual assault
Lee Juno, a member of the hit 1990s boy band Seo Taiji and Boys, has been booked on a charge of sexual assault, reports said Monday. Lee, 49, is suspected of sexually abusing two women at an Itaewon club at around 3 a.m. on June 25, the reports said, citing the Yongsan Police Station. Police are currently analyzing video footage from surveillance cameras inside the club. “We will summon Lee for questioning once the basic investigations are complete,” police said. Lee Juno (The Korea Herald) Po
PerformanceJune 27, 2016
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Opposition parties hit by sleaze accusations
The two leading opposition parties on Monday apologized and vowed zero tolerance upon the irregularity allegations implicating some of their incumbent members, as the issues were seen to hamper the parties’ momentum in starting off the new legislative term.“I sincerely apologize to the people over the recent reports on Rep. Seo (Young-kyo),” said The Minjoo Party of Korea’s interim chief Kim Chong-in at the party’s Supreme Council meeting, vowing “due measures based on internal audit results.”Th
PoliticsJune 27, 2016
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Experts call for long-term solution to N.K. human rights
Experts from international agencies and academia on Monday called for a more systematic and long-term solution to resolve North Korea’s human rights violations, looking beyond the naming-and-shaming tactics against its ruler. Marking the first anniversary of its launch, the U.N. High Commissioner for Human Rights’ Seoul office brought together dozens of specialists on human rights, international law and North Korea for a one-day symposium. Michael Kirby, chair of the U.N. Commission of Inquiry a
North KoreaJune 27, 2016
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Samsung to roll out reform measures next month
Korea's top conglomerate Samsung Group, which celebrates the 23rd anniversary of the Frankfurt Declaration this year, said Monday that it will announce a set of reform measures next month to break away from its traditional top-down management.In 1993, Samsung Electronics Chairman Lee Kun-hee made the landmark declaration to spearhead the new management strategy, calling on his employees to "change everything but your wife and kids," during a gathering with senior officials in Frankfurt, Germany.
IndustryJune 27, 2016
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Victims dismiss expanded Oxy RB compensation plan
Household products company Oxy Reckitt Benckiser, which has been blamed for the largest number of victims from the use of toxic humidifier disinfectants, released an expanded compensation plan for victims over the weekend. The victims and their families, however, remain opposed to the plan, saying the additional compensation still neglects victims with relatively less damage and overlooks different causes of death allegedly caused by the products.In a closed-door meeting attended by some 150 vic
Social AffairsJune 27, 2016