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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Korea vows to take actions to ease Brexit fallout
South Korea on Saturday said it will keep close tabs on the impact of the Brexit on the local market and take actions swiftly and firmly to minimize its fallout if needed."For now, the uncertainties (on Britain's exit from the European Union) are big, and we cannot predict the consequences,"the government said.On Saturday, officials from the finance and industry ministries, as well as the central bank, held a gathering to check the repercussions of Britain's vote to leave the EU.Hit by the Brexi
June 25, 2016
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Brexit divorce 'not amicable' but must be quick: Juncker
European Commission chief Jean-Claude Juncker said Britain's planned departure from the European Union was "not an amicable divorce" but called for it to be quick."I do not understand why the British government needs until October to decide whether to send the divorce letter to Brussels," he told German public broadcaster ARD late Friday."I'd like it immediately."He admitted that the EU had hoped Britain would stay but that now it was key to make the separation process as speedy and painless
World BusinessJune 25, 2016
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China-backed AIIB approves first 4 loans worth $509 million
The China-backed Asian Infrastructure Investment Bank (AIIB) has approved its first four loans worth US$509 million as the bank holds its first annual meeting. Three of the four loans were co-financed with other multilateral lenders such as the Asian Development Bank and the World Bank. The loans will be funded for infrastructure projects in Pakistan, Indonesia, Tajikistan and Bangladesh, the bank said in a statement. The AIIB "looks to take its place as one of the leading multilateral financial
World BusinessJune 25, 2016
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European leaders to discuss EU future after Brexit shock
Founding EU members are to hold a crisis meeting Saturday on the future of the bloc after Britain's seismic vote to leave the union and the resignation of Prime Minister David Cameron.As the "Brexit" vote sent global financial markets into freefall, Moody's cut Britain's credit rating outlook to "negative", saying the vote to pull out of the European Union could hurt its economic prospects.After the shock result German Chancellor Angela Merkel and French President Francois Hollande led calls
World NewsJune 25, 2016
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Seoul shares to face increased volatility next week after Brexit
South Korean shares will face increased fluctuation next week as foreign investors are expected to reduce part of their risky assets following Britain's decision to exit the European Union (EU), analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,925.25 on Friday, down 3.09 percent, or the biggest daily loss in more than four years following the unexpected outcome of Britain's vote to leave the world's single largest economic bloc.Analysts said the country
June 25, 2016
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Market fluctuations over Brexit to run long: analysts
The South Korean stock market is expected to face fluctuations for the time being due to Britain's decision to leave the European Union, analysts said Saturday.Hit by the Brexit rout, the country's benchmark stock index dived 3.1 percent to close at 1,925.24 points on Friday, the biggest daily loss in over four years."It will take some time for the market to stabilize, and investors should seek to manage their risks," said Lee Kyung-min, an analyst at Daishin Securities Co. "For now, it is hard
June 25, 2016
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N. Korea's nuclear envoy returns home after 6-day visit to Beijing
A North Korean nuclear envoy returned home on Saturday after a six-day visit to Beijing where she declared that the North has no intention of returning to the negotiating table on its nuclear weapons program. Choe Son-hui, deputy director for North American affairs at North Korea's foreign ministry and the North's deputy chief nuclear envoy, was seen arriving at the Beijing airport earlier in the day. Choe made no comments upon her arrival at the airport and entered the departure gate for diplom
North KoreaJune 25, 2016
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PM says Pyongyang's dialogue offer 'deceiving'
Prime Minister Hwang Kyo-ahn on Saturday condemned North Korea's latest test of mid-range missiles, saying that the North's provocation proves its offer to hold inter-Korean dialogue is a fraudulent act."Although years have passed since the cease of gunfire, our security remains unstable as a divided country," Hwang said during a speech to commemorate the 66th anniversary of the outbreak of the 1950-53 Korean War. Prime Minister Hwang Kyo-ahn gives a speech to commemorate the 66th anniversary o
PoliticsJune 25, 2016
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Lotte chairman fends off elder brother's challenge for third time
The chief of South Korean business group Lotte won support of Japanese shareholders of Lotte Holdings, the group's de-facto holding company, in a vote on Saturday, cementing his grip on the retail giant currently embroiled in the slush fund scandal in South Korea.The shareholders' meeting was held at the request of Shin Dong-joo, the former vice president of Lotte Holdings and the elder brother of the incumbent chief. Lotte chairman Shin Dong-bin (Yonhap)The first son of Lotte founder Shin Kyuk-
IndustryJune 25, 2016
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Trump, in Scotland, links Brexit vote to his campaign
AYRSHIRE, Scotland (AP) -- Donald Trump, in a visit to Scotland on Friday, hailed Britain's vote to leave the European Union, drawing parallels to the anger driving his own presidential campaign."I love to see people take their country back,'' he told reporters at a news conference at one of his golf courses in Scotland. "And that's really what's happening in the United States'' and other parts of the world.The campaign leading to Thursday's stunning vote for Britain to leave the European Union
WorldJune 24, 2016
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Gov't, ruling party say they would not consider revising growth outlook, extra budget due to Brexit
The government and ruling Saenuri Party said Friday that they will not consider revising an economic growth outlook downwards or expanding an extra budget because of Britain's exit from the European Union.They reached the agreement as they believe the impact of Brexit on South Korea's economy would be "limited," party officials said.The two sides held an emergency meeting at the National Assembly after Britons voted to leave the EU in a historic referendum."We have sufficient capabilities to res
NationalJune 24, 2016
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Russia adopts controversial counter-terrorism amendments
MOSCOW (AP) -- The Russian parliament on Friday adopted a set of controversial counter-terrorism amendments which have sparked alarm among rights activists.The amendments that the Duma voted on Friday include introducing prison sentences for failure to report a grave crime and doubling the number of crimes that Russians as young as 14 years old can be prosecuted. Another forces telecommunications companies to store logs and data for months, a measure which threatens to eat almost all of the comp
WorldJune 24, 2016
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Brexit a possible boon for China, say analysts
BEIJING (AFP) -- Britain's decision to quit the world's largest single market presents China with a golden opportunity to seek better business terms with a more isolated UK, analysts said Friday, pointing out that London has not had its own trade negotiators for 40 years."Now that the referendum has happened, I would imagine that China will be quick to seize the opportunities," Guy de Jonquieres, senior fellow at the European Centre for International Political Economy, told AFP.If a departing Br
June 24, 2016
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[Newsmaker] Cameron’s luck runs out
LONDON(AFP) -- Prime Minister David Cameron may go down in history as the man who led Britain out of the European Union, with a strong chance that he will not survive the country’s political earthquake.As Britain voted to become the first state ever to withdraw from the bloc on Thursday, according to national media forecasts, Cameron’s epitaph could be sealed after six years in power.“He’s put himself front and center of the Remain campaign, and to have lost the campaign would be a massive blow
World NewsJune 24, 2016
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Britain votes to leave EU, Cameron to resign
LONDON (AP) -- Britain voted to leave the European Union after a bitterly divisive referendum campaign, toppling the government Friday, sending global markets plunging and shattering the stability of a project in continental unity designed half a century ago to prevent World War III.The decision launches a yearslong process to renegotiate trade, business and political links between the United Kingdom and what will become a 27-nation bloc, an unprecedented divorce that could take decades to compl
World NewsJune 24, 2016
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‘Nuclear bombs for sale’ ad in Korean newspaper
An advertisement satirizing U.S. presidential candidate Donald Trump will appear in this weekend’s The Korea Herald, a Seoul-based English-language newspaper. The half-page ad, which, according to the newspaper, was paid for by We The People Foundation, pretends to sell “magnificent, beautiful and spectacular” nuclear bombs, asking those with inquiries to contact Trump. (The Korea Herald)The advertisement also carries a mock invoice sent by U.S. “Supreme Commander” Trump to Korea’s Prime Ministe
Social AffairsJune 24, 2016
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[Weekender] What fine dust does to human body
The South Korean public is more sensitive to air quality these days, in light of increasing news reports on the negative impacts of fine dust and with a slew of released apps that send almost real-time updates on the concentration of harmful particles. So how bad is fine dust to one’s health?Fine dust particles do not just cause respiratory problems such as bronchial and asthmatic diseases, they also increase the chance of cerebrovascular diseases, according to the Korean Medical Association.Fin
Social AffairsJune 24, 2016
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[Weekender] Criticism mounts over government’s fine dust countermeasure plan
Earlier this month, the South Korean government released a set of fine dust countermeasures amid growing public anxiety over the peninsula’s grey skies.Considering neighboring countries’ climate conditions and the upcoming monsoon season, the government admitted that the current fine dust problem in Korea is “difficult to be resolved within a short period of time.”Regardless, the government said it would improve the air quality through several action plans. It set a goal to reach the air quality
Social AffairsJune 24, 2016
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[Weekender] Korea more vulnerable to air pollution
A latest report from the Organization for Economic Cooperation and Development has sent a solemn message to the world: If we do not effectively tackle air pollution, it could cause 6 to 9 million premature deaths and economic consequences of $2.6 trillion annually by 2060.South Korea was among countries singled out as those in greater danger. The report said that South Korea could see at least 1,109 early deaths per 1 million people in 2060 -- the only OECD member to exceed the 1,000 mark -- unl
Social AffairsJune 24, 2016