Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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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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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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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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College is expensive? In S. Korea, English preschools cost much more
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Gov't spending more than planned by May: finance ministry
The South Korean government has exceeded its planned fiscal spending earmarked for the first five months of the year as part of its efforts to stimulate the sluggish economy, the finance ministry said Wednesday.The government earlier announced that it would spend some 60 percent of this year's 280 trillion won ($242 billion) budget set aside for the central government in the first half in order to get over tough challenges at home and abroad.The Ministry of Strategy and Finance said it has execu
June 22, 2016
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U.S. 'strongly condemns' N. Korea's missile launches
The United States strongly condemned North Korea's missile launches Tuesday, saying it will raise the issue at the U.N. Security Council to hold the communist nation accountable for the provocative actions."We strongly condemn these and North Korea's other recent missile tests, which violate U.N. Security Council Resolutions explicitly prohibiting North Korea's launches using ballistic missile technology," State Department spokesman John Kirby said in a statement."These provocations only serve t
North KoreaJune 22, 2016
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Korea rolls out measures responding to Gangnam murder
South Korea on Wednesday unveiled a series of measures aimed at creating a more equal society for women, about a month after a woman was killed by a stranger in a high-traffic neighborhood in Seoul.The murder sent a shockwave through a nation that has made strides in recent years but apparently leaves much to be desired in areas of gender equality. Gender Minister Kang Eun-hee (L) and National Police Agency Commissioner General Kang Sin-myeong talk during a ministerial-level talks held at Gover
Social AffairsJune 22, 2016
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S. Korea condemns N. Korea's launches of 2 mid-range missiles
South Korea on Wednesday condemned North Korea for launching two intermediate-range ballistic missiles, calling the launch a clear violation of existing U.N. resolutions.Earlier in the day, North Korea fired off what is believed to be two Musudan mid-range missiles from its east coast city of Wonsan."Relevant U.N. resolutions ban North Korea from using ballistic missile technology. North Korea's missile launches were clearly acts of provocation," Jeong Joon-hee, spokesman at Seoul's unification
North KoreaJune 22, 2016
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N. Korea unable to import luxury Swiss watches: report
North Korea has been unable to import luxury watches from Switzerland as the European country enforced tough sanctions on the reclusive country for its nuclear and long-range missile program, a U.S.-based media report said Wednesday.According to Radio Free Asia, North Korea's Swiss watch imports fell to zero in May, in sharp contrast to the monthly average of 20 watches from January through April this year. It said such a development will seriously affect leader Kim Jong-un's so-called "gift pol
North KoreaJune 22, 2016
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N. Korean envoy tight-lipped on mid-range missile tests
A North Korean nuclear envoy was tight-lipped on Wednesday when asked about the North's test launch of two intermediate-range ballistic missiles earlier in the day. South Korean defense officials said North Korea test-fired two mid-range ballistic missiles into the East Sea in the North's latest violation of U.N. Security Council resolutions that ban Pyongyang from using ballistic missile technology. The Wednesday tests come as North Korea sent its nuclear envoy, Choe Son-hui, deputy director fo
North KoreaJune 22, 2016
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People's Party head urges opening special committee on job creation
Ahn Cheol-soo, the co-chairman of South Korea's minor opposition People's Party, said Wednesday the National Assembly should establish a special committee on creating jobs to meet the changing industrial scope and deal with the soaring unemployment among youths."The fourth-industrial revolution is a huge challenge and opportunity for us," Ahn, an entrepreneur-turned-politician, said during his speech at the National Assembly. "The National Assembly should take the lead in kicking off the special
June 22, 2016
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Korean firms need speedier innovation: KCCI
Many South Korean companies lag behind their Chinese rivals in the speed of innovation, a survey by the business community here showed Wednesday.The Korea Chamber of Commerce and Industry conducted the poll of 300 manufacturing firms based in South Korea from May 12-18.Among them, 84.7 percent said the innovation pace of South Korean firms is slower than that of Chinese ones, according to the KCCI.In a hypothetical question, the KCCI put the innovation speed of Chinese companies at 100 kph and a
IndustryJune 22, 2016
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SK Telecom expands O2O business in China
[THE INVESTOR] SK Telecom is expanding its online-to-offline business in China in collaboration with a Korean start-up and local firms, the mobile operator said on June 22.The company signed a letter of intent on June 21 in China with Korean start-up 12CM and three Chinese firms -- Duolabao, BlueFocus, Heima Live -- to establish a joint venture. 12CM is highly evaluated in the O2O industry in Korea having invented Smart Stamp, which is widely used in coffee shops and restaurants, that has replac
TechnologyJune 22, 2016
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Asiana Airlines considering JV for in-flight food service
[THE INVESTOR] Asiana Airlines, the nation’s second-largest air carrier, is mulling a joint venture for in-flight catering, local news reported on June 22. Citing sources from the airline industry, the report indicated that Asiana has been discussing the plan with various companies here and abroad. “Asiana, which has outsourced catering, is planning on establishing a new JV,” a source was quoted as saying. Asiana began in-flight catering business in 1994 and continued until 2003 when it sold 80
IndustryJune 22, 2016
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Korea’s speed of innovation 70% that of China: survey
[THE INVESTOR] Korean manufacturers consider the country far behind China in terms of speed of innovation, a Korea Chamber of Commerce and Industry survey showed on June 22. In the survey on 300 manufacturing firms, local companies rated Korea’s speed of innovation as being 71 percent that of China. The respondents were asked to estimate the country’s speed of innovation in relation to China, whose speed of innovation was set at 100 kilometers per hour. The average Korea industries came in at 70
IndustryJune 22, 2016
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Samsung Electronics to lead Q2 earnings growth: analysts
[THE INVESTOR] Korea Inc. is expected to show steady growth in the second quarter but only if Samsung Electronics is included in the club. Local securities firms have revised up their projections for aggregate operating profit of 172 companies listed on the benchmark KOSPI to 33.83 trillion won (US$29.2 billion) as of June 22, up 1.67 percent from their forecast a month earlier. “The burden of KOSPI’s high valuation has been eased as major companies’ Q2 revenue forecasts have continuously increa
June 22, 2016
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Korea’s top four conglomerates focused in China
[THE INVESTOR] South Korea’s top four conglomerates -- Samsung, Hyundai Motor, SK and LG -- were found to be focusing their overseas operations in China. One out of four of their offshore companies are located in China as of March this year, according to a local think tank on June 22.In contrast, only 2.1 percent are located in the United Kingdom, which is set to vote June 23 whether to stay in the European Union.Samsung affiliates, such asSamsung Electronics, Samsung C&T and Samsung SDS have 18
IndustryJune 22, 2016
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Korea unveils list of 700 foreign students for this year's scholarship program
A total of 700 foreign students from 142 countries will be given opportunities to study in local universities via this year's government-sponsored scholarship program, a state-run organ on international education said Wednesday.The National Institute for International Education, affiliated with the Education Ministry, unveiled the list of students receiving scholarships under the Global Korea Scholarship program aimed at securing an outstanding potential workforce and expanding a global human ne
Social AffairsJune 22, 2016
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KT&G boosted by overseas sales
[THE INVESTOR] Korean cigarette maker KT&G’s performance will continue to improve buoyed by overseas sales, local brokerages projected. On June 21, NH Securities and Investment projected that KT&G’s second quarter sales will come in at over 1.12 trillion won (US$968.7 million), up 8.7 percent from the same period last year. For second quarter operating profits, NH Securities projected a figure of 340.4 billion won, up 12.3 percent over the same period.Other securities firms also projected a posi
IndustryJune 22, 2016
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Private donations slip amid economic slump
South Koreans donated less money in 2014 as more people felt the pinch of the prolonged economic slump, while companies donated more to charities, data showed Wednesday. Total donations were tallied at 12 trillion won ($10.3 billion) in 2014, retreating from 12.47 trillion in 2013, the National Tax Service said. It was the first time that the amount has contracted since tax authorities compiled the data in 2006.The amount of donations has steadily increased from 8.14 trillion won in 2006 to 9.61
June 22, 2016