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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[Hello India] Hyundai Motor inches closer to IPO in India
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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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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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Golden Blue seeks to develop real 'Korean whisky'
Golden Blue is fast expanding its presence in South Korea with a low-alcohol whisky brand to lead a new trend, but its ultimate goal is to develop "real Korean whisky" made with a homemade solution, its chief executive said. Golden Blue, a homegrown whisky released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, has been increasingly widening its base among whisky lovers who prefer a mild taste and affordable price tag.Golden Blue has imported an undiluted s
IndustryJune 20, 2016
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Samsung supports Korean War veterans' offspring
The Samsung Group, South Korea's largest conglomerate, has gone global not only with its smartphones and other products but also with steady financial support for those in need abroad.Major beneficiaries include Korean War veterans and their offspring.Samsung has provided them with a total of around US$8.5 million in various aid programs since the early 1990s, according to group officials on Monday.The campaign is based on the belief that the sacrifice of the war veterans is the reason for the r
CompaniesJune 20, 2016
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Kakao Pay users exceed 10m mark
[THE INVESTOR] Kakao’s mobile payments service Kakao Pay has logged more than 10 million users on its home turf since its September 2014 launch, the Internet giant said on June 20. Running on the immensely popular KakaoTalk mobile messenger, the service has become the first financial technology or fintech service to hit the 10-million milestone in terms of users. Currently, there are more than 50 million KakaoTalk users around the world. The company attributed the service’s wider adoption amo
TechnologyJune 20, 2016
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U.S. sold more cars in Korea than Japan last year
U.S. carmakers sold more cars in South Korea than Japan last year, industry data showed Monday, due mainly to the competitive advantages of the free trade deal between Seoul and Washington.Sales of American cars in South Korea came to 17,501 units last year, compared with 14,623 units of U.S. cars sold in Japan, according to the Korea Automobile Importers and Distributors Association and Japan Automobile Importers Association.It marked the first time that sales of American cars in South Korea ha
MobilityJune 20, 2016
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Presidential office denies presidential secretary hiring scandal allegations
The presidential office Cheong Wa Dae on Monday denied the allegations that a new senior presidential secretary helped three of his wife's students land jobs at a company established by a local university where he previously lectured.Cheong Wa Dae said that Hyun Dai-won, chief presidential secretary for future strategy, would take legal action against the allegations, which he stressed were "totally groundless." Undated Photo shows Hyun Dai-won, senior presidential secretary for future strategy.
PoliticsJune 20, 2016
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Public utility rates jump amid low inflation
South Korea's public utility rates rose at a much faster face than their overall consumer inflation in May due mainly to increased transportation fees, government data showed Monday.The country's public utility rates rose 2.2 percent in May from a year earlier, far higher than the headline inflation rate of 0.8 percent, according to the data by the nation's statistical agency, central government ministries and provincial administrations.After peaking at 2.1 percent in January 2010, the growth ra
IndustryJune 20, 2016
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Bank of China set to join Seoul's yuan futures market
The Seoul branch of the Bank of China, a major Chinese commercial bank, may soon begin offering futures contracts on the Seoul bourse, informed sources said Monday, a move that could help significantly boost the local market.The local branch of the Chinese bank has already submitted a request to South Korea's financial watchdog, seeking permission to sell futures contracts on the South Korean stock market, according to the market sources, who spoke on condition of anonymity.The state watchdog, F
June 20, 2016
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N.K. slams S. Korea's crackdown on China's illegal fishing
North Korea on Monday slammed South Korea for its operation with the United Nations Command to repel Chinese fishing boats operating illegally in neutral waters between the two Koreas, calling the move a "military provocation."This marks the North's first official reaction to South Korea and the UNC's joint crackdown on Chinese fishing vessels operating in the neutral waters of the Han River's estuary. The only vessels allowed to operate in the area are those manned by military police officers.S
North KoreaJune 20, 2016
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VW gasoline customers to file criminal charges
[THE INVESTOR] Korean customers of Volkswagen’s gasoline vehicles are set to file criminal charges against Audi Volkswagen Korea. The move comes in the wake of the recent disclosure by prosecutors that the German carmaker rigged software of its gasoline cars to cheat on emission tests, local news reported on June 19. “Following the diesel vehicle scandal, it has been revealed that gasoline cars were also manipulated. We plan to gather victims here and file a lawsuit against Audi Volkswagen Korea
BusinessJune 20, 2016
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Seoul stocks open higher on eased Brexit worries
South Korean shares opened higher Monday on eased Brexit concerns following the killing of a British politician who objected to Britain's exit from the European Union. Polls conducted after last week's murder of Labor politician Jo Cox, a fervent supporter of Britain remaining in the EU, show the "Stay" camp is now slightly ahead of the "Leave" camp in a reveral of their earlier positions. The benchmark Korea Composite Stock Price Index advanced 18.15 points, or 0.87 percent, to 1,970.38 in the
June 20, 2016
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FSC to approve Bank of China’s participation in yuan-based derivatives market
[THE INVESTOR] The Bank of China, one of China’s four major state-owned banks, has decided to participate in yuan futures market launched by the Korea Exchange last year, sources said June 20. Financial Services Commission, Korea’s top financial regulator, is expected to give a preliminary approval to the Seoul branch of BOC soon as the bank applied for operation license to trade yuan-based derivatives products here in March. Once the Chinese bank receives the green light, the Korean authority w
June 20, 2016
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Antigraft act will cause US$10b loss per year: think tank
[THE INVESTOR] The new anticorruption act set to take effect in September will cost local businesses 11.6 trillion won (US$9.96 billion) on an annual basis, a think tank claimed.Commonly known as the Kim Young-ran act, it will place a ceiling on the value of gifts -- cash and goods -- and meals individuals in selected professions can have in their professional capacities. The government announced its enforcement in May. According to a report compiled by the Korea Economic Research Institute, if
June 20, 2016
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City cars favored over compact sedans: data
[THE INVESTOR] City cars, such as the Chevrolet Spark and Kia Morning, are enjoying popularity among Korean drivers as carmakers are offering aggressive promotions to new buyers, industry data showed on June 20. According to the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the same period. The best-selling city car Chevrolet Spark.There are three such car models -- the
BusinessJune 20, 2016
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Samsung Display to pour W10tr into OLED production plant: report
[THE INVESTOR] Samsung Display will reportedly beef up its production capacity for organic light-emitting diode displays at its manufacturing complex in Asan City, South Chungcheong Province, in a bid to maintain the lead in the growing market for display technology.The Nikkei, a Japanese financial newspaper, reported last week that the company will spend around 10 trillion won (US$8.5 billion) in newly building production facilities for display panels and updating the existing ones this year. A
TechnologyJune 20, 2016
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Apple under antitrust scrutiny
[THE INVESTOR] The Korea Fair Trade Commission is looking into Apple on suspicion of imposing part of advertising costs on local mobile carriers.According to industry sources, the FTC suspects that local carriers were made to cover part of the advertising costs for the US company’s new products. Apple is also said to be suspected of making carriers cover a part of the costs arising from customer services. The FTC, however, declined to confirm the reports.By Choi He-suk (cheesuk@heraldcorp.com)
TechnologyJune 20, 2016
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Seoul shares open higher on eased Brexit fears
[THE INVESTOR] South Korean shares opened higher on June 20 due to eased Brexit concerns following the murder of a British politician who was in favor of remaining in the European Union.Polls conducted after her murder last week show that more citizens now favor staying in the EU rather than leaving, a contrast from earlier. The benchmark Korea Composite Stock Price Index soared 18.15 points, or 0.87 percent, to 1,970.38 during the first 15 minutes of trading. Most large cap stocks traded higher
June 20, 2016
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Tax-to-GDP ratio rises on increased taxpayers
[THE INVESTOR] The nation’s ratio of income tax revenue to gross domestic product has been rising at a fast pace in recent years largely due to the increasing number of taxpayers, data showed on June 20. The country’s revenue from earned income and global income tax came to 36.8 trillion won (US$31.4 billion) in 2014, accounting for 2.48 percent of the overall tax revenue of 1,485.1 trillion won, according to the report based on data from the Finance Ministry and the National Tax Service.Earned
June 20, 2016