Most Popular
-
1
[Exclusive] Democratic Party of Korea forms US election task force
-
2
NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
-
3
Seoul seeks to improve foreign nanny program after two abscond
-
4
Samsung, top banks to create W2tr green growth fund for SMEs
-
5
An increasing number of K-pop idols are breaking free from big agencies. Why?
-
6
Malnutrition cases nearly triple in last 5 years
-
7
KFA Chair denies unfair hiring of national coach
-
8
Couple welcoming quintuplets to receive over W170m in childbirth grants
-
9
College is expensive? In S. Korea, English preschools cost much more
-
10
[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
-
Location of new southeastern airport to be announced Today
[THE INVESTOR] The location of a new airport in the country’s southeast will be announced at 3 p.m. on June 21, the Ministry of Land, Infrastructure and Transport said.The location of the new airport has been narrowed down to Miryang and Busan’s Gadeokdo Island, with the former considered to be the more likely choice. A bird's eye view of Gadekdo new airport.With the project estimated to require as much as 10 trillion won (US$ 8.6 billion), the project has been at the center of heated debate and
June 21, 2016
-
Koreans shifting to second-car ownership: data
The number of registered passenger vehicles in South Korea is expected to top 20 million this month, heralding the advent of the "one household with two cars” era, data showed Tuesday.The number of registered passenger cars here came to 19,964,178 as of the end of May, according to the data compiled by the Ministry of Land, Infrastructure and Transport. Ministry of Land, Infrastructure and Transport (Yonhap)It marked a steady increase from 19.7 million in January, 19.75 million in February, 19.8
MobilityJune 21, 2016
-
Nine in 10 seniors forecast to live on state pension in 2060
Nine in 10 South Korean seniors are expected to live on the state pension in 2060, when the country's national pension fund is estimated to dry up, a report said Tuesday.According to the report by the National Pension Research Institute, 91.3 percent of 17.62 million South Koreans aged 65 and older are projected to receive various state pensions in 2060.Last year, 36.4 percent of 6.78 million senior South Koreans received state pensions, but the ratio will likely soar to 41 percent in 2020, 50.2
June 21, 2016
-
Hyundai Heavy seeking to spin off biz unit, labor union in opposition
Embattled Hyundai Heavy Industries is seeking to spin off a business unit, while the labor union strongly opposes the move, claiming that it would lead to a massive number of non-regular workers in the end, industry sources said Tuesday.According to the sources, Hyundai Heavy said in its emailed statement that the spin-off of its facility-assistance business division is one of its key promises to its creditors, which demand a tougher restructuring program, pledging to push ahead with related pro
IndustryJune 21, 2016
-
Young Chinese public officials visit Korea for exchanges with municipalities
A delegation of young Chinese public officials is visiting South Korea at the invitation of the Korea Foundation to seek exchanges with South Korean municipal governments, the foundation said Tuesday.The 177-member delegation, led by Wang Yunzhe, vice chief of the China-South Korea Friendship Association, arrived the previous day on an eight-day trip that will take them to the South Korean cities of Gwangmyeong and Daejeon.The arrival of the group, comprising young public officials in Beijing an
Foreign AffairsJune 21, 2016
-
Tesla set to start sales in Korea
[THE INVESTOR] The US electric car manufacturer Tesla Motors is hiring new staff, including shop manager, sales advisor and software engineer, to work in Seoul, hinting that its first Korean store is imminent. Tesla has long gauged the marketability of full-electric sedans in a market where Hyundai and Kia cars dominate almost 70 percent of total car sales, even though it has continued supply talks with Korean battery and display makers. Tesla Model 3 prototype.In November last year, the firm re
MobilityJune 21, 2016
-
Ruling party urges gov't to roll out 'significant' extra budget
South Korea's ruling Saenuri Party on Tuesday urged the government to provide a "significant" amount of extra budget to bolster the country's economy that is struggling with a prolonged slump."The country is facing challenges in the job market due to youth unemployment and corporate restructuring issues," the party said during its special meeting arranged to find solutions to the country's employment issues. Ministry of Strategy and Finance in Sejong City (Yonhap)"As the central bank is rolling
June 21, 2016
-
Presidential office says announcement over new airport will be made 'promptly and fairly'
The presidential office Cheong Wa Dae said that the announcement over the site of a new airport in the country's southeastern region will be made in a "prompt and fair" manner amid growing political tensions over the selection process.With the announcement slated for this week, the presidential office has been walking a tightrope, striving to fend off any possible fallout from the politically tinged race between the two candidate sites: Milyang, South Gyeongsang Province, and Gadeok Island in th
IndustryJune 21, 2016
-
Customer deposits at brokerages soar amid low rates
Customer deposits at South Korean securities companies have hit a new high, data showed Tuesday, as investors search for high-yielding vehicles amid record-low interest rates.In a blitzkrieg move, the Bank of Korea slashed its key interest rate by a quarter percentage point to 1.25 percent on June 9 in an apparent bid to cushion any fallout from the ongoing corporate restructuring drive and bolster the sputtering economy.It was the first rate cut in 12 months.According to the data by the Korea E
June 21, 2016
-
Major banks reduce loans to large firms
Apparently spooked by problems facing the country's top-ranked companies in the shipping and shipbuilding industries, major commercial banks here are beginning to reduce the amount of their loans to large firms, market data showed Tuesday.According to the data from the country's five commercial banks, their outstanding loans to large firms came to some 89.59 trillion won ($77.21 billion) as of end-May, down 1.83 trillion won from 91.42 trillion won at the end of 2015.The five banks are KEB Hana
June 21, 2016
-
U.S. rejects N. Korea's threat over detainees
The United States on Monday rejected North Korea's threat to keep detaining two American citizens unless a former detainee stops criticizing Pyongyang, saying the freedom of speech is guaranteed in the U.S. and urging Pyongyang to immediately free detainees.The North's official Korean Central News Agency issued the threat earlier in the day, claiming that Kenneth Bae, a Korean-American missionary who spent two years at a North Korean labor camp, "keeps spouting invectives against the DPRK."After
North KoreaJune 21, 2016
-
Korean students set to embark on bicycle tour cross U.S. to raise awareness of 'comfort women'
Three South Korean college students have arrived in Los Angeles on a mission to travel 6,000 kilometers across the United States by bicycle in an effort to raise awareness of Japan's wartime sexual slavery.The students -- Kim Hyun-koo, 25, of Hansung University and Kim Han-kyun, 25, and Kim Tae-woo, 24, of Kyung Hee University -- flew in to the Los Angeles airport Sunday evening, and plan to embark on the journey on Saturday.They plan to reach Chicago on Aug. 7, Washington on Aug. 22 and New Yor
InternationalJune 21, 2016
-
Pompidou Seoul branch: Culture meets economy
[THE INVESTOR] The French cultural platform Pompidou Centre is set to open a Seoul branch in March 2017 in a move that could help revitalize the Korean economy that is increasingly becoming more diverse. However, there are also doubts and concerns surrounding the plan due to the rumored royalty payment, which is expected to reach 1.5 million euros (2 billion won). The amount would be paid annually to the Paris Pompidou Centre. The Korean art industry is questioning whether the branch’s contribut
June 21, 2016
-
Hyundai, Kia merge China departments
[THE INVESTOR] The Chinese operations of Hyundai Motor Group’s two carmakers have been placed under a single control tower as the group seeks to strengthen operations in the world’s largest automotive market. According to the carmakers, Beijing Hyundai Motor, Dongfeng Yueda Kia, and China marketing divisions of Hyundai Motor and Kia Motors have been placed under the body that oversees the group’s operations in China.The organization in charge of the group’s operations in China is headed by Kim T
MobilityJune 21, 2016