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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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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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Seoul approves 2 new nuclear reactors
[THE INVESTOR] The Nuclear Security and Safety Commission on June 23 approved the construction of two nuclear reactors in Ulsan.The plans for the two reactors -- Shin-Kori 5 and 6 -- were submitted by Korea Hydro & Nuclear Power in September 2012. The state-run KHNP plans to begin work immediately, and complete Shin-Kori 5 in March 2021, and Shin-Kori 6 in March 2022. The two reactors are estimated to cost about 8.6 trillion won (US$7.4 billion). By Choi He-suk (cheesuk@heraldcorp.com)
IndustryJune 24, 2016
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Park appoints new personnel management minister
President Park Geun-hye on Friday appointed Kim Dong-keuk, her secretary for personnel affairs, as the new personnel management minister, the presidential office Cheong Wa Dae said. Kim will replace Lee Geun-myeon, who has resigned due to "health issues."During some three decades of public service, Kim has specialized in personnel affairs and has a firm grasp of Park's statecraft philosophy and policy line regarding personnel management, presidential spokesman Jung Youn-kuk told reporters. "As h
PoliticsJune 24, 2016
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Ex-LPGA top rookie enters int'l event in place of injured stars
Former LPGA Tour Rookie of the Year Ryu So-yeon will enter an international match play competition this summer in place of injured stars.Ryu, the tour's top first-year player in 2012, was announced Friday as one of four South Koreans at the July 19-24 International Crown. Ranked 11th in the world, Ryu was the second alternate for the team after world No. 3 Park In-bee and No. 9 Jang Ha-na pulled out citing injuries.The International Crown will feature the four highest-ranked golfers representing
GolfJune 24, 2016
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Widening PX spreads bode well for refiners, petrochemicals firms
Widening paraxylene spreads stemming from firm demand and reduced supply are forecast to help Korean oil refineries and petrochemicals firms rack up decent earnings this year following last year's stellar performance, industry sources said Friday.According to the sources, PX spreads stood at $382.96 per ton this month. PX spreads dipped to below $300 per ton in 2014 due to a supply increase amid sluggish demand, after staying between $500 and $700 per ton in the early 2010s. PX spreads have been
IndustryJune 24, 2016
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Saenuri urges gov't to put priority on job creation in H2
Korea's ruling Saenuri Party called on the government Friday to put priority on generating more jobs in the second half of 2016, amid rising concerns that ongoing corporate restructuring will lead to serious unemployment issues."South Korea lacks jobs for the youth while the job market is facing challenges," said Chung Jin-suk, the party's floor leader during the meeting with the finance ministry. "There also needs to be special policies centered on workers who may lose their jobs following the
PoliticsJune 24, 2016
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Korea to take market stabilization measures on British referendum results
The Korean government said Friday that it will take market stabilizing measures if the foreign exchange market becomes wildly volatile due to the results of the landmark British vote."As South Korea has low exposure to Britain in terms of trade, a final decision (to quit the European Union) will have a limited impact on the South Korean economy," Vice Finance Minister Choi Sang-mok said at an emergency meeting with officials of the financial authorities and the central bank.Vice Finance Minister
June 24, 2016
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Twins' Park Byung-ho falls to Mendoza Line after hitless day
Park Byung-ho of the Minnesota Twins fell to the dreaded Mendoza Line, after his second straight hitless day at the plate.Park went 0-for-3 with two strikeouts against the Philadelphia Phillies in Minneapolis on Thursday (local time), as his batting average slipped to .200. The Twins lost the game 7-3. (Yonhap)The South Korean infielder is batting only .161 (9-for-56) in June, with three home runs and six RBIs, while striking out 20 times. The big league rookie has fallen on hard times, after be
BaseballJune 24, 2016
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Gloomy outlook for Hanjin Shipping
[THE INVESTOR] On news that ailing Hyundai Merchant Marine is likely to join the prestigious vessel-sharing 2M Alliance, all the attention is now focused on its bigger local rival Hanjin Shipping, to see whether the shipper can normalize its business to stave off bankruptcy. Hanjin Shipping, which joined a new alliance named The Alliance in May along with five shippers including Germany’s Hapag-Lloyd, Japan’s Nippon Yusen Kaisha and Taiwan’s Yang Ming, took the early lead on the industry-wide re
IndustryJune 24, 2016
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Truman's statement firing MacArthur declassified
In the middle of the 1950-53 Korean War, then U.S. President Harry Truman sacked Gen. Douglas MacArthur, saying military commanders must be governed by the policies and directives issued to them according to law, a recently declassified document showed Thursday.When the Korean War broke out in 1950 with the communist North's invasion of the South, Truman quickly committed American forces to a combined United Nations military effort and named MacArthur commander of the U.N. forces.But he fired Ma
World NewsJune 24, 2016
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GM Korea CEO warns employees over corruption
[THE INVESTOR] GM Korea chief executive James Kim warned that any employee found to be taking part in illegal activities will be dealt with sternly.“Any illegal activities or customs concerning the company will be dealt with sternly,” Kim said in an email sent to employees on June 23.GM Korea chief executive James Kim. “Remember that the actions of an individual can create negative situations for the entire organization,” Kim said, calling on GM Korea employees to focus on further raising domest
MobilityJune 24, 2016
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VW Korea official arrested over emissions scandal
[THE INVESTOR] An executive of Volkswagen Korea was arrested by prosecutors on June 24 for his alleged involvement in the firm’s irregularities in the emissions scandal.The Seoul Central District Court issued an arrest warrant for the official in charge of the vehicles’ certification process, surnamed Yoon, on a charges including forging documents and violating the Clean Air Conservation Act.The court said there are enough reasons indicating that he is responsible for the crimes.The 52-year-old,
MobilityJune 24, 2016
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U.N. Security Council strongly condemns N. Korea's missile test
The U.N. Security Council on Thursday adopted a press statement strongly condemning North Korea's latest missile tests, saying they contribute to the communist nation's development of nuclear weapons delivery systems."The members of the Security Council strongly condemned the most recent ballistic missile launches," the council said in the statement issued a day after it held an emergency meeting to discuss the North's launches of two Musudan intermediate-range ballistic missiles on Wednesday.Th
North KoreaJune 24, 2016