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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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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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Inconsistent fiscal policy draws criticism
The government is expected to unveil a plan to set aside about 10 trillion won ($8.4 billion) in supplementary budget Tuesday when it announces economic policy directions for the second half of this year.In a meeting with lawmakers from the ruling Saenuri Party on Friday, Finance Minister Yoo Il-ho said he would actively consider drawing up an extra budget if it was to pass parliament within the next month. Finance Minister, Yoo Il-ho (Yonhap)Two days earlier, Yoo, who doubles as deputy prime mi
June 27, 2016
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[Photo News] Brainstorming against Brexit fallout
Hwang Young-key (center), chairman of the Korea Financial Investment Association, speaks during a meeting with heads of brokerage houses convened to discuss the fallout in the nation‘s financial markets from Brexit on Monday. (Yonhap)
June 27, 2016
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K-ITC Born2Global Center and its Members ⑤ JD SOUND
Sound equipment company JD SOUND announced Monday that it will be holding a crowdfunding campaign through the U.S. crowdfunding platform Indiegogo on July 6. Its goal is to secure $2 million in funding for its new portable DJ device. In June 2016, JD SOUND managed to raise approximately 53 million yen ($520,667) through Makuake, a Japanese crowdfunding platform.JD SOUND has created a portable and mobile app version of its DJ device, enabling users to create and listen to premium quality music no
TechnologyJune 27, 2016
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Busan mayor accepts plan to expand Gimhae airport
Busan Mayor Suh Byung-soo on Monday accepted the central government's decision to expand the existing airport in the southern port city, giving a boost to the ruling Saenuri Party's efforts to unify the party that has been fractured by the divisive issue.Suh also apologized for failing to make good on his pledge to host a new airport on Gaedeok Island in Busan, but refused to bow out despite his earlier vow to resign should he fail to win the airport project that pitted the island against Miryan
Social AffairsJune 27, 2016
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DiYPRO to feature holographic display at KCON Los Angeles in July
Optics company DiYPRO announced Monday that it will be featuring a holographic display at the KCON festival next month in Los Angeles. DiYPRO’s display panel produces a holographic screen by combining multiple two-dimensional videos. CEO Kim Myung-joong said that the company will be featuring the display at CES next January as well.Holographic technology, which has been gaining attention for its potential applications to next-generation displays, is based on optics—in other words, lens technolog
TechnologyJune 27, 2016
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[Photo News] Meeting for new growth engines
Business leaders including Samsung Electronics vice chairman Kwon Oh-hyun (fourth from left) attend a meeting on government-company consultation for the nation’s new growth engines at a Seoul hotel on Monday. (Yonhap)
IndustryJune 27, 2016
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LSIS R&D campus named Asia’s No. 2 green building
Leading Korean electrical components manufacturer LS Industrial Systems’ Anyang research and development campus was named Asia’s No. 2 green building for its building energy management system, company officials announced Monday. The Asia Pacific Intelligent Green Building Alliance, an academic and technology exchange platform for green building technology was behind the list. LS Industrial Systems‘ Anyang R&D campus building in Anyang, Gyeonggi Province (LSIS)Built as the first domestic buildi
IndustryJune 27, 2016
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S. Korea, U.S., Japan set for 1st joint missile defense exercise in Hawaii
South Korea, the United States and Japan are to hold their first trilateral missile defense exercise this week against North Korea's ever growing ballistic missile threats.The antimissile drill set for Tuesday in waters around Hawaii will revolve around a hypothetical missile launch by North Korea, according to the Ministry of National Defense here.The three countries will each dispatch one Aegis Combat System-equipped warship to the trilateral antimissile drill, the first of its kind to be held
Diplomatic CircuitJune 27, 2016
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PyeongChang Olympics organizers move into new office in host city
Organizers of the 2018 PyeongChang Winter Olympics on Monday officially settled into their new headquarters in the host city, a move designed to ensure more efficiency in preparations for the first Winter Games in Korea.The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Games marked the occasion with a ceremony in PyeongChang, Gangwon Province, some 180 kilometers east of Seoul. (Yonhap)Lee Hee-beom, president of the POCOG, said the opening of the new headquarters has usher
SportsJune 27, 2016
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BET Awards full of Prince tributes and political moments
The BET Awards -- or “The Prince Tribute Show” -- featured emotional and energetic performances from Sheila E., Stevie Wonder and Jennifer Hudson honoring the Purple One, along with political statements on issues ranging from racial injustice to the U.S. presidential election.Sheila E., jamming on the drums and guitar, singing and dancing without shoes, closed the three-hour-plus show at the Microsoft Theater in Los Angeles with “Let’s Work,” “A Love Bizarre,” “The Glamorous Life,” “America” and
PerformanceJune 27, 2016
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Jang Keun-suk to kick off Asia tour
Actor and singer Jang Keun-suk, nicknamed “Asia Prince” by fans for his popularity throughout the region, will be touring the continent in the coming months. The tour, titled “2016 Jang Keun Suk Asia Tour, It’s Show Time” will kick off on July 2 in Seoul. It will then move on to Tokyo and Osaka in Japan and Shanghai and Shenzhen in China, before moving on to other cities in Asia. Actor Jang Keun-suk (Official Website) The tour marks Jang’s return to the stage following his regional tour last y
PerformanceJune 27, 2016
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Hanwha Techwin bags 240 bln won deal with Korea's aircraft maker
Hanwha Techwin, a Korean defense manufacturer, said Monday that it has signed a parts supply deal worth 241 billion won ($204 million) with Korea Aerospace Industries Ltd., the country's sole aircraft manufacturer.The deal is designed to localize parts of the engine for Korea's next-generation fighter jets, Hanwha Techwin said in a regulatory filing.In May, Korea picked U.S. company General Electric as the preferred bidder to supply engines for the KF-X project. KAI said Hanwha Techwin is set to
IndustryJune 27, 2016
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BOK chief says to ensure ample liquidity to counter Brexit-triggered chaos
The head of Korea's central bank on Monday said the bank is prepared to ensure ample market liquidity to minimize market uncertainty stemming from Britain's unprecedented vote to leave the European Union.Bank of Korea Gov. Lee Ju-yeol also insisted there is no need to react too sensitively to what he called "short-term" changes in the market. (Yonhap)"In the case of our country, which is relatively more open, not only its financial market but also its real economy may be exposed to a negative im
June 27, 2016
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[THE INVESTOR] Naver chief faces new challenges with Line
[The Investor] Naver chief faces new challenges with LineThe Korea Herald and The Investor are jointly publishing a series of in-depth articles analyzing rising business tycoons and their company’s governance structures. This is the first installment on Lee Hae-jin and Naver. -- Ed. Naver’s chairman Lee Hae-jin is something of an enigma in Korea’s corporate community. Unlike other businesspeople who are household names, Lee remains mostly out of the public eye. So far, his approach to “owning” t
IndustryJune 27, 2016
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Finance Minister opposes corporate tax hike
[THE INVESTOR] Korean Finance Minister Yoo Il-ho has expressed his opposition to corporate income tax hike, warning that it could take a toll on the country’s competitiveness.“For the time being, raising the corporate income tax is not a right thing to do,” Yoo said in a meeting with business journalists of local newspapers on June 27.His remark comes as the main opposition Minjoo Party of Korea seeks to propose a revision to raise the corporate income tax ceiling for big companies to 25 percent
June 27, 2016
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Doosan Heavy wins W220b deal in Iran
[THE INVESTOR] Doosan Heavy Industries and Construction has secured a 220 billion won (US$187 million) deal to build a desalination plant in Iran, the company said Monday. Doosan was the first global firm to have won a seawater purification plant construction project in the Middle Eastern country after international economic sanctions were lifted from it earlier this year, added the firm.The deal was signed with an Iranian private firm Sazeh Sazan. The South Korean builder will be in charge of d
IndustryJune 27, 2016