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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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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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Where everybody knows your name: ‘Cheers’ coming to stage
BOSTON (AP) -- The bar where everybody knows your name is coming to the stage.“Cheers Live on Stage” is a comedy based on some of the most memorable moments of the celebrated TV show’s first season. It will feature retired Red Sox pitcher and shameless lothario Sam Malone, pretentious waitress Diane Chambers, rotund barfly Norm Peterson, and the rest of the regulars when it debuts in September in Boston.Even though it’s based on the TV show set in a Boston bar, loyal fans should see plenty of ne
TelevisionJune 21, 2016
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French writer Houellebecq lays himself bare in art show
PARIS (AFP) -- In one of the most eagerly awaited Paris art shows of the year, the ageing enfant terrible of French letters, Michel Houellebecq, does not disappoint.From a room full of erotic photographs of the women in his life, to a heartrending homage to his best ever friend -- his dog Clement – France’s most controversial novelist gives his wryly cynical, “reactionary” but oddly poetic world view full rein.There is even a bar reminiscent of the wife swapping clubs of his novel “Atomised” whe
PerformanceJune 21, 2016
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Korea ranks 1st in using smartphones for news consumption: survey
Nearly half of all South Koreans consume digital news on their smartphones, topping the list of 26 countries studied, a survey showed Tuesday.According to the Korea Press Foundation that released the Korean version of the survey, "Digital News Report 2016," by Reuters Institute for the Study of Journalism, 48 percent of Korean respondents said they used their smartphones when reading digital news, followed by Sweden (46 percent) and Switzerland (42 percent).The poll checked 53,330 respondents fr
Social AffairsJune 21, 2016
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Korean Army eyeing to launch committee to chart its future
The Army will soon launch a committee tasked with drawing up a master plan to proactively deal with future security risks, the Army chief of staff said Tuesday.South Korean senior military leaders have studied the U.S. National Commission on the Future of the Army, set up last year by Congress to study the future force and structure of the U.S. Army, as part of efforts to put the envisioned Future Committee in motion. The committee is called upon to establish the master plan based on socio-polit
DefenseJune 21, 2016
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Samsung unveils new budget tablet model
Samsung Electronics Co., South Korea's top tech firm, released the updated version of its budget tablet series, the Galaxy Tab A, on Tuesday, saying it guarantees a better connection with entertainment.The Android-based "2016 Galaxy Tab A" features a 10.1-inch full HD-level display, a 1.6 GHz octa-core processor, 2GB of RAM and a microSD card slot for up to 200GB of removable storage. It has a 7.300 mAh battery.The tablet is equipped with an 8-megapixel rear camera and a 2-megapixel front-facing
TechnologyJune 21, 2016
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Minjoo floor head vows to root out corporate irregularities
South Korea's main opposition Minjoo Party of Korea said Tuesday it will make an effort to root out irregularities in large businesses, adding that there is a need to limit the exercise of excessive power by the heads of family-run conglomerates."The role of the National Assembly is not to speak out for big businesses, but to keep watchful eyes on them," Kim Chong-in, the party's interim leader said, adding the parliament should refrain from defending local conglomerates. On the ongoing debate o
PoliticsJune 21, 2016
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Samsung SDS rules out steps to boost share price
Samsung SDS Co., a key IT unit of South Korea's top conglomerate Samsung Group, said Tuesday it has decided not to take measures to boost its share price as it mulls spinning off the logistic business.The decision came a week after a group of small investors demanded Samsung SDS buy back shares or pay interim dividends to bolster its share price."Samsung SDS has decided not to consider a share buyback or an interim dividend as a spinoff is under consideration," the company said in a regulatory f
June 21, 2016
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Korea will not punish local fishermen who seized Chinese boats
South Korean authorities said Tuesday they have decided not to punish the local fishermen who sailed beyond their designated fishing area to seize two Chinese boats that were illegally catching fish near the inter-Korean border earlier this month.A group of South Korean crewmen from 19 fishing boats seized the Chinese boats just south of the Northern Limit Line and dragged the boats and crew to Yeonpyeong Island on June 5.Though the seizure of the boats occurred without incident and the Chinese
Foreign AffairsJune 21, 2016
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Korea, Portugal promise to expand cooperation in culture-related areas
South Korea and Portugal agreed to expand bilateral cooperation in media, education, sports and other culture-related areas, the foreign ministry said Tuesday.The agreement was part of a three-year cultural exchange plan signed at a joint committee meeting in Seoul on Monday between Choi Young-sam, a director of the ministry's bureau in charge of cultural affairs, and Ana Paula Laborinho, head of Portugal's government agency leading international cultural exchanges.Under the plan, both agreed to
CultureJune 21, 2016
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Foreign banks' Korean exodus: Banco Santander to exit from Korea
[THE INVESTOR] Spanish lender Banco Santander will shut its Korean operations after seven years, joining foreign banks’ exodus from Korean market in a bid to slash costs through global restructuring, a source said on June 21.The eurozone’s largest bank by market value will close its office in Seoul before the end of the year and some of its employees will be dispatched to Hong Kong.Launched in 2009, the Seoul office has been serving as a liaison between Korean corporates and official institution
June 21, 2016
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Exports set to continue record-long decline
[THE INVESTOR] The downward spiral for Korea’s exports will likely continue for the 18th consecutive month, data showed on June 21. According to Korea Customs Service data, exports between June 1 and June 20 came in at about US$ 25.66 billion, down 12.8 percent compared to the same month last year. The customs office said that the fall in integrated circuit exports has contributed significantly to the figure for June so far. It noted that integrated circuit exports in June fell 9.1 percent compa
June 21, 2016
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Labor union opposes Hyundai Heavy’s spin-off plans
[THE INVESTOR] Hyundai Heavy Industries’ labor union is strongly opposing the company’s move to spin off its facility-assistance business unit, industry sources said on June 21.Although it is one of Hyundai Heavy’s key promises to its creditors, unionists claim that the move would lead to a rise in nonregular workers -- mostly the 994 employees who are currently working at the division. The union’s representatives decided to propose a general strike last week, denouncing the shipbuilder’s latest
IndustryJune 21, 2016
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Foreign investors keep buying Hana Financial stocks
[THE INVESTOR] Foreign investor are maintaining a strong appetite for Hana Financial Group, a major South Korean banking group, while overseas holders have reduced exposure to other Korean bank stocks as ongoing corporate restructuring weighs on local lenders. Foreign holdings of Hana Financial Group shares rose 0.9 percentage points during the past three months, from 64.8 percent in March to 65.7 percent in June. Foreigners bought some 3.27 million of Hana stocks since mid-March. In stark to co
June 21, 2016
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Korea to fine Volkswagen W80b: report
[THE INVESTOR] Korea’s antitrust agency will fine Volkswagen around 80 billion won (US$ 68.9 million) for deceiving customers with false advertisements in the German automaker’s emission rigging scandal that affected millions of cars globally, including here. The state-run Fair Trade Commission is probing VW’s false advertisement claims, the agency’s head Jeong Jae-chan said in an interview with local media on June 21. The agency has looked into VW’s advertisements from 2009 to 2015, which toute
MobilityJune 21, 2016
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New baby formula regulations to threaten Korean firms in China
[THE INVESTOR] China’s new tougher baby formula regulations could spell trouble for Korean producers, Seoul’s trade agency warned on June 21. According to Korea Trade-Investment Promotion Agency’s branch in Beijing, Chinese authorities will limit the number of brands and products a company can market in China from October. Under the measures announced by China Food and Drug Administration on June 8, a single company is limited to three brands, and nine products. China has been beefing up regulat
IndustryJune 21, 2016