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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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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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An increasing number of K-pop idols are breaking free from big agencies. Why?
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KFA Chair denies unfair hiring of national coach
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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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Government to inject W10.5tr into renewable energy
[THE INVESTOR] The government will invest 10.5 trillion won (US$9.1 billion) into renewable energy in collaboration with the private sector, the Ministry of Trade, Industry and Energy said on June 23. In a press release before a parliamentary briefing on the same day, the ministry said that it will focus on issues concerning electric vehicles, solar power, energy storage systems and other energy-related fields. The ministry said that it will roll out measures to improve conditions for electric v
June 23, 2016
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FSC to draw up measures for shipbuilding, shipping-related firms
[THE INVESTOR] The Financial Services Commission will announce measures to support shipping- and shipbuilding-related industries in August. The top financial regulator said that vice chairman Jeong Eun-bo held a meeting with industry representatives in Busan on June 23, and the government is reviewing measures to support the concerned industries. “(The government) is reviewing diverse measures to relieve financial difficulties of the companies linked to the industries undergoing restructuring,”
June 23, 2016
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BioLeaders to go public in July
[THE INVESTOR] Korean pharma company BioLeaders will list on the secondary bourse KOSDAQ on July 7.Established in 1999, the company develops drugs for immune disorders and other incurable diseases. CEOs of BioLeaders: Sung Moon-hee (left) and Kim Sang-sukPrior to listing on the tech-heavy KOSDAQ, BioLeaders was traded on KONEX -- a securities exchange exlusively for small and medium enterprises and venture companies. It will issue 1.2 million shares within the range of 11,000 won (US$9.5) to 15,
June 23, 2016
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[Editorial] Evolving missile tests
North Korea test-fired what appeared to be two mid-range ballistic missiles Wednesday. The communist country managed to fly its intermediate-range ballistic missile for some hundred kilometers for the first time.While the first launch was deemed to be a failure, the second projectile’s flight, while well short of the 500 kilometer suspected minimum flight range of the Musudan, was assessed to have managed to sustain flight for a significant range.As the Ministry of Foreign Affairs has clarified,
EditorialJune 23, 2016
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[Editorial] Denomination change
A lawmaker from the main opposition Minjoo Party of Korea has raised the issue of abbreviating the unit of currency, and some of his colleagues are supporting his proposal for a redenomination.Rep. Choi Woon-yeol of the Minjoo Party said that it is the right time to start negotiating among lawmakers on whether to redenominate the currency. His suggestion indicates that the 20th National Assembly needs to take the initiative in garnering social consensus on the currency unit overhaul.The optimum
EditorialJune 23, 2016
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People’s Party lawmaker appears for questioning over rebate allegation
People’s Party’s Rep. Kim Su-min, who is the key person of interest in the party’s corruption allegation, appeared for prosecutors’ questioning Thursday.“There was no rebate of (any) sort. I will clarify everything with the prosecution,” the first-termer said before entering the Seoul Western District Prosecutors’ Office.The National Election Commission reported Kim, along with two other senior party members, to prosecutors on June 8 on charges of receiving kickbacks worth 238 million won ($207,
PoliticsJune 23, 2016
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Saenuri secretary-general resigns amid factional pressure
The ruling Saenuri Party’s Secretary-General Rep. Kweon Seong-dong offered on Thursday to resign, succumbing to pressure from the leadership during a factional feud over the party’s latest decision to readmit controversial defectors.Kweon, who is considered part of the faction that rivals those loyal to President Park Geun-hye, had initially refused to step down despite mounting pressure led by the party’s emergency chief Kim Hee-ok. Kim and the pro-Park faction had called on Kweon to resign to
PoliticsJune 23, 2016
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[NEWS FOCUS] Sejong resurfaces as hot politcal issue
Following the thwarted airport plan that left the southeast region in feuds, political parties promptly shifted their focus to the central administrative city of Sejong, seeking momentum there and in its surrounding Cheungcheong provinces.But their ambitious scenario, involving a partial relocation of the legislative branch and possibly moving the presidential office, rekindled concerns that these rosy promises may once again dwindle away to become mere stunt pledges ahead of key elections.“If w
PoliticsJune 23, 2016
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Man brandishes weapon, demands for female company
A man who threatened a bar owner with a weapon while demanding for a woman to attend to him was arrested in Suncheon-si, South Jeolla Province, the police said Thursday. (123RF)The 43-year-old man, identified by the surname Mun, had demanded in a drunken state for a woman’s company, but his request had been denied. The police said he then used a weapon to create a ruckus. He surrendered without protest when the authorities arrived. By Lim Jeong-yeo (kaylalim@heraldcorp.com)
Social AffairsJune 23, 2016
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Human rights watchdog opposes ban on students' cellphone use in Korea
Last year, Kim Ji-hoon, a middle school student, filed a complaint to the National Human Rights Commission of Korea, claiming his school’s ban on cellphone use limits his social life. Since 2012, all students attending school have been prohibited from bringing cellphones to class, except on specific circumstances such as school trips and outdoor field work. The ban was introduced in 2012 to prevent possible traffic accidents caused by cellphone use, as well as to encourage all students to focus
Social AffairsJune 23, 2016
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Private day cares go on strike over new limits
Some 14,000 day care centers nationwide started a two-day strike on Thursday in protest against the government’s new limit on their full-day services from next month, which they fear will lead to operating difficulties.The government recently announced a new child care policy for toddlers aged 48 months and younger, which aims to balance demand and supply.Under the new rule, which goes into effect from next month, toddlers aged 2 and younger with a stay-at-home parent can only use the day care c
Social AffairsJune 23, 2016
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Park Tae-hwan to take legal steps in S. Korea over Olympic ban
Former Olympic swimming champion Park Tae-hwan is taking legal steps at home in addition to his international appeal over an Olympic ban. Park's legal representatives said on Thursday they have applied for an injunction at the Seoul Eastern District Court on behalf of the swimmer, in a bid to force the Korean Olympic Committee to obey a ruling by the Court of Arbitration for Sport in favor of Park. (Yonhap)Because of his doping history, Park, the 2008 Olympic champion in 400m freestyle, has been
More SportsJune 23, 2016
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[Newsmaker] Syrians at airport win right to seek refugee status
A South Korean court ruled Thursday in favor of nine Syrian asylum seekers who had been denied entry into the country to apply for the status. They stayed at an airport for the past six months awaiting the decision. The Incheon Administrative Court ordered the Justice Ministry to allow the asylum seekers to apply for refugee status in the country, saying depriving applicants of the chance to claim asylum should only be made in exceptional cases. A total of 28 Syrian asylum seekers filed a law
Social AffairsJune 23, 2016
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[DECODED] Koreans turn cold shoulder on Lotte amid drama
When Kim Li-na first heard about the prosecution’s probe into Lotte on the alleged creation of slush fund and embezzlement, she was anything but surprised.“At this point, I doubt anyone expected anything less from them,” she said. “After the whole fiasco last year, I think Lotte’s image has pretty much hit rock bottom.” (Yonhap)She was referring to the mudslinging between the Lotte founder’s two sons Shin Dong-bin and Shin Dong-joo, who attacked each other publicly to gain controlling power over
IndustryJune 23, 2016
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U.N. aviation agency voices 'grave concerns' over N.K.'s GPS jamming
A U.N. aviation agency has expressed "grave concerns" over North Korea's attempts to jam GPS signals in the South and decided to send a letter to Pyongyang to warn against such activity that could cause serious safety problems, the foreign ministry said Thursday."The International Civil Aviation Organization held the 208th board meeting in Montreal, Canada, from May 16-June 17 and adopted the decision to send a warning to the North with regard to the GPS disruption issue," the ministry said in a
North KoreaJune 23, 2016
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N.K. claims success in ballistic missile test
North Korea on Thursday claimed its intermediate-range ballistic missile soared as high as 1,400 kilometers during Wednesday’s test, with its leader Kim Jong-un boasting the country now has the “overall, practical” ability to strike U.S. military bases throughout the Pacific. State media said the missile, formally Hwasong-10, or better known as Musudan, climbed 1,413.6 kilometers before falling into the “exact target area” in the sea 400 kilometers away. The experiment, the sixth involving the
North KoreaJune 23, 2016