Most Popular
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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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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Panel decision put prosecution in dilemma over Dior bag case
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Global drama stars gather for 2024 Seoul International Drama Awards
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Coreana signs W285b supply deal with Chinese retailer
[THE INVESTOR] Korean cosmetics maker Coreana on June 20 signed a 285 billion won (US$ 245 million) supply deal with China’s Y&F.Under the contract, the Chinese firm will import and market Coreana’s Orthia brands cosmetics products over the next five years. Korean retailer Songjung will act as Y&F’s import channel for the cosmetics. Coreana said that the deal will provide the company with diverse marketing channels in China. By Choi He-suk (cheesuk@heraldcorp.com)
June 20, 2016
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[FROM THE SCENE] Hansen's patients testify at on-site court hearing
GOHEUNG, South Jeolla Province -- The South Korean appeals court visited Sorokdo Island on Monday to hear a case involving people with Hansen disease who were allegedly forced to undergo sterilizations and abortions by the government.In a compensation suit filed against the government by 139 leprosy patients, judges from the Seoul High Court traveled to the island off the southern coast to conduct an on-site inspection and hear the victims and witnesses testify. The courtroom temporarily set up
Social AffairsJune 20, 2016
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Railway-related stocks surge on national railroad network plan
[THE INVESTOR] Railway-related stocks surged on June 20 as the Korean government confirmed its national railroad network plan . Shares in Hyundai Rotem, the country’s train manufacturer, rose 6.69 percent to close at 18,350 won (US$15.79). The company’s first vendor Daeho AL closed at 2,750 won, up a whooping 21.41 percent. Stocks listed on the secondary market KOSDAQ including Woowon Development and DAEATI hit the upper price limit. Korea Train Express.On June 17, the Ministry of Land, Infrastr
June 20, 2016
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Opposition camp demands dismissal of veterans affairs minister
The three opposition parties said Monday they would ask for the dismissal of Park Sung-choon, minister of patriots and veterans affairs, for attempting a controversial march at an upcoming national commemoration day.“The three opposition parties will motion within this week a joint resolution to dismiss Minister Park,” said Rep. Woo Sang-ho, floor leader of The Minjoo Party of Korea at the Supreme Council meeting.The ministry, whose mission is to honor war veterans and patriots, recently came un
PoliticsJune 20, 2016
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South Korean politicians play hide-and-seek
In South Korea’s raucous politics, there has been one well-known gimmick favored by the nation’s power brokers to prove their point and turn things around: Going into hiding until someone finds you. Over the weekend, the ruling Saenuri Party’s interim leader Kim Hee-ok vacated his seat and stayed home to protest against the party’s decision to accept its defectors. The former justice threatened to leave his post, saying that the decision-making process was “undemocratic” and “offensive” to his l
PoliticsJune 20, 2016
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Pantech to release new smartphone
[THE INVESTOR] Smartphone-maker Pantech will release a new model on June 30, its first after being acquired by a consortium led by telecom equipment firm Solid in December last year.The firm, once the third largest in Korea after Samsung Electronics and LG Electronics, was on the brink of bankruptcy due to decreasing sales and financial constraints in 2015.After it was acquired by the consortium, the firm has focused on rolling out connected devices for automotive, defense and home automation in
TechnologyJune 20, 2016
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N.K. warns against Seoul-UNC crackdown in neutral waters
North Korea on Monday lambasted the South’s joint crackdown with the U.N. Command on Chinese boats illegally fishing in neutral waters, threatening another provocation similar to the 2002 scuffle in the West Sea. In its first reaction to the operation, Pyongyang’s state media condemned it as a “military provocation,” saying it will never accept such a “reckless maritime intrusion.” Calling it a “vicious, evil plot,” the official Korean Central News Agency said that the campaign is aimed at escal
North KoreaJune 20, 2016
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Samsung C&T shares rally on hopes of holding firm transformation
[THE INVESTOR] Shares of Samsung C&T, the fashion and trading arm of Samsung Group, continued to rally June 20 on expectations that it would benefit from the group’s ongoing corporate restructuring. Its shares closed at 122,000 won (US$105.04), up 2.09 percent from the last trading session on June 17 when it climbed 3.46 percent. “If Samsung C&T successfully transform itself as the holding company of Samsung Group, it will secure more than 20 percent of Samsung Electronics’ business units and ot
June 20, 2016
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[Park Sang-seek] English as second official language in Korea
There are 67 sovereign states which recognize English as their official language. Among the 67 states, 36 countries use English as the only official language, while 31 countries recognize English as one of the official languages.Those countries recognizing English as the only official language are either the countries whose majority of the people are English-speaking ethnic groups or are former colonies of the U.K. and are populated by one dominant language group or equally numerous language gro
ViewpointsJune 20, 2016
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Sri Lanka reneges on rights probe resolution
Colombo has reneged on its resolution to probe alleged human rights abuses during its 30-year civil war The ethnic problem in Sri Lanka defies solution as Colombo has gone back on the resolution it cosponsored with the U.S. at the 31st session of the U.N. Human Rights Council in Geneva.The resolution required Sri Lanka to take a number of measures, including the setting up of a credible justice process with the participation of Commonwealth and other foreign judges and defense lawyers, to inves
ViewpointsJune 20, 2016
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[Andrew Sheng] Dealing with the new abnormal
How can this be normal? Twenty-nine countries with roughly 60 percent of the world’s GDP have monetary policy rates of less than 1 percent per annum. The world is awash with debt, with sovereign, corporate and household debt of over $230 trillion or roughly three times world GDP. To finance their large debt and deal with deflation, both the European Central Bank and Bank of Japan are already experimenting with negative interest rate policies. If these do not work, look out for helicopter money,
ViewpointsJune 20, 2016
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[Laura Black] The first Father‘s Day without Dad
My mother calls me and says, “We need to figure out what to put on Daddy’s headstone.”“How about beloved husband, father, grandfather and great-grandfather?”“No, that’s so ordinary.”She’s right. It doesn’t begin to capture who he truly was.“Can we think about it for a couple of days?”“OK, but keep in mind, the funeral home said that inscriptions cost $15 a letter.”Fifteen dollars a letter. With the meter running, I try to think of as few words as possible to capture my father’s life story.He was
ViewpointsJune 20, 2016
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[Ramesh Ponnuru] Republicans should fear losing House
Republicans need to start worrying about losing their majority in the House of Representatives.Republicans accept the conventional wisdom that Hillary Clinton is favored to win the presidency, and they know that her election would probably end their majority in the Senate. But in a year that has upended political expectations, they have clung to one comforting assumption: Their hold on the House is secure.Their majority is protected by gerrymandering, the geographic distribution of Republican vo
ViewpointsJune 20, 2016
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Seoul shares close higher on eased Brexit concerns
[THE INVESTOR] South Korean stocks closed higher on June 20 on eased concerns over the UK’s exit from European Union following a lawmaker’s murder. The benchmark Korea Composite Stock Price Index increased 27.72 points, or 1.42 percent, to close at 1,981.12. Trade volume was moderate at 385 million shares worth 3.9 trillion won (US$3.3 billion), with winners outnumbering losers 658 to 169. The KOSPI rose from the revived risk-on appetite after the latest Brexit polls showed voters favor Britain
June 20, 2016