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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Hyundai Motor still lukewarm in car-sharing, ride-hailing business
[THE INVESTOR] Global automakers are seeking to transform from mere car manufacturers into transportation providers -- offering diverse auto-related services such as car-sharing and ride-hailing services -- amid growing concerns that self-driving technology may bring down car sales in the future. This year, several auto giants have aligned themselves with tech firms or announced mobility plans, although Korean automakers including Hyundai Motor and Kia Motors have not yet made any big deals in
BusinessJune 19, 2016
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Rise in patients suffering herniated discs in neck
Increased use of smartphones is suspected as one of the reasons behind the rise in the number of herniated cervical disc patients in Korea, according to the National Health Insurance Service on Sunday.Newly released NHIS data showed the number of cervical disc patients rose from 699,858 in 2010 to 868,729 in 2015. The total amount of hospital fees for treatment of the condition also jumped 35 percent over the same period, from 166 billion won ($142 million) to 226 billion won. (123RF)Professor J
TechnologyJune 19, 2016
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Bank deposits on rise despite record low interest rates
Deposits at South Korea's major commercial banks grew at a fast clip last week despite significant cuts in interest rates paid by local banks following a rate cut by the central bank, market data showed Sunday.Outstanding deposits held by the country's five major lenders gained over 10 trillion won ($8.52 billion) in just one week after the Bank of Korea slashed its key interest rate to a record low of 1.25 percent on June 9, according to the data.Following the rate cut, some local banks have re
June 19, 2016
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Korea, Japan, China agree to boost cooperation on drones
South Korea, Japan and China will work together for the development of small drones and their markets, a local industry group said Sunday.A three-way agreement to this end was signed earlier Sunday on the sidelines of the ongoing 2016 Shenzhen International UAV Expo in the Chinese city, according to the Korea Drone Industry Promotion Association.Under the agreement, the three countries will work to standardize drone parts and technologies, a move that will ensure joint development of their respe
Foreign AffairsJune 19, 2016
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Peeping Tom gets 5 months in prison
A 34-year-old man was sentenced to five months in prison on Sunday for looking into a cubicle in a female toilet. The Gwangju District Court said the man had a previous record of being fined for similar misconduct and that he showed no regrets on this occasion. (123RF)The man claimed in court that he had only gone into the female bathroom to look for a woman he had met on the streets. However, the court decided the man was guilty based on how he had climbed onto a stool to look inside the occup
Social AffairsJune 19, 2016
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IS targets U.S. military installations here, S. Korean citizens
The Islamic State jihadist group has designated U.S. Air Force installations here and South Korean citizens as targets for attacks, Seoul's state spy agency said Sunday.In a press release, the National Intelligence Service said that the group incited terrorist attacks against them through Telegram, a messaging service, and revealed location data of 77 Air Force installations of the United States and North Atlantic Treaty Organization, and of individuals in 21 countries. Online information distri
DefenseJune 19, 2016
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Hyundai Motor cars to support Apple’s CarPlay
[THE INVESTOR] Korean automotive giant Hyundai Motor Group will be offering Apple’s CarPlay system in its vehicles sold here, starting with the Hyundai Sonata sedan this month. CarPlay aims to allow drivers to connect their iPhone to their cars’ infotainment system, making it easier and safer to use apps on their mobile phones, including GPS. Apple’s CarPlay in the Hyundai SonataHyundai Motor also seeks to attract more iPhone users by increasing CarPlay-compatible models, including the new Grand
BusinessJune 19, 2016
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More consumers reaching for affordable wines
[THE INVESTOR] Wine has found a new place in the lifestyles of Korean consumers who increasingly see it as a casual drink for everyday enjoyment due to falling prices and growing accessibility.According to the Korea International Trade Association, wine imports last year reached $189.8 million, surpassing the value of imported whisky for the first time. New trends indicate that much of the growth was fueled by Korean consumers’ increasing preference for affordable wines to enjoy at home. The vol
MobilityJune 19, 2016
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Chinese official's possible visit to N.K. wouldn't improve bilateral ties: expert
Strained ties between North Korea and China would not undergo a turnaround even if Beijing sends a high-ranking official to Pyongyang at a key anniversary next month, an expert at Seoul's think tank said Sunday.North Korea and China will mark the 55th anniversary of the signing of a military treaty on July 11 amid the possibility that Beijing may send a high-ranking official to Pyongyang in return for the latest visit by the North's party official Ri Su-yong to China.Chinese President Xi Jinping
North KoreaJune 19, 2016
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Incheon mayor pledges to institute inter-Korean fish sale system
Incheon Mayor Yoo Jeong-bok on Sunday pledged to push for an inter-Korean fish sale system under which South Korean fishermen pay for fish from their North Korean counterparts, and sell them here and elsewhere.The move came as South Korean fishermen have continuously suffered from income losses due to Chinese fishermen illegally operating in South Korean waters near the tense inter-Korean maritime boundary.Yoo made the pledge as he met with some 30 fishermen during his visit to the border island
North KoreaJune 19, 2016
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Hyundai Motor begins offering iPhone-friendly vehicles
South Korea's top automotive group Hyundai Motor Group is beginning to offer Apple's CarPlay system in its vehicles sold here, market observers said Sunday.Hyundai Motor Co., the bigger of the two automakers that make up the world's fifth-largest automotive group, began incorporating CarPlay into the infotainment system of the Hyundai Sonata this month, making it the first vehicle model produced and sold here that is CarPlay-compatible, according to the market observers.Apple CarPlay is a system
MobilityJune 19, 2016
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Korea to open embassy in Madagascar
South Korea will open an embassy in Madagascar early next month, government sources said Sunday, amid its stepped-up efforts to strengthen diplomacy with the resource-rich continent.The two countries established diplomatic ties in 1962, but Seoul has not opened any mission in Antananarivo, the capital of the southeastern African state. After a government with close ties to North Korea took power in the African state in the 1970s, the bilateral relations remained chilled for nearly two decades. P
Foreign AffairsJune 19, 2016
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[LOTTE CRISIS] Five major allegations against Lotte
[THE INVESTOR] Prosecutors are focusing on five main allegations against Lotte Group in their probe on the nation’s fifth largest conglomerate. 1. Shin Kyuk-ho and Shin Dong-bin’s 30 billion won (US$25.6 million)Prosecutors on June 16 secured testimony that Lotte group founder Shin Kyuk-ho and his son -- current group chairman Shin Dong-bin -- had collected 10 billion won and 20 billion won, respectively, from the affiliates under the conglomerate. The two Shins asserted that the amount was for
MobilityJune 19, 2016
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Korean, Chinese business leaders agree to reduce fine dust emissions
[THE INVESTOR] A group of South Korean and Chinese business leaders agreed on June 18 to join hands to reduce fine dust emissions amid growing health concerns in Korea. Twenty-one Korean and 23 Chinese business leaders, including Huh Chang-soo, GS Group chairman and the chairman of the federation of Korean Industries, renewed their commitment to reducing fine dust emissions at their regular meeting in the northeastern Chinese city of Harbin. Fine dust particles less than 2.5 micrometers in diame
June 19, 2016
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Lotte founder moves hospital amid escalating probe
[THE INVESTOR] Lotte Group founder Shin Kyuk-ho was transferred to another hospitals on June 18 amid prosecutors’ escalating probe into the retail and food giant. According to news reports, the 93-year-old was admitted to Asan Medical Center earlier in the day from Seoul National University Hospital where he had been hospitalized since Jun 9 due to high fever. Lotte Group founder Shin Kyuk-hoAn official close to his eldest son Shin Dong-joo was quoted as saying that there was medical opinion tha
MobilityJune 19, 2016
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Kia Motors named as highest quality brand in US
[THE INVESTOR] Kia Motors, the nation’s No. 2 carmaker, has recently been named one of the highest quality brands in the US, according to a leading automotive research company on June 18. According to Strategic Vision, Kia’s Sorento mid-size crossover utility vehicle and the Sedona minivan gained the highest scores on its Total Quality Impact, the automotive industry’s most complete measure of the quality of a new vehicle, in respective segments. Kia Motors’s Sedona minivanThe research firm sur
BusinessJune 19, 2016
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Korea's agricultural exports to U.S. jump nearly 10%
South Korea's agricultural and fisheries exports to the United States are on a steep increase, data showed Saturday, an apparent indication of the benefits from the bilateral free trade agreement between the two countries that went into effect four years ago.In the first four months of the year, shipments of South Korean agricultural and fisheries goods to the U.S. came to 310 million, up 9.8 percent from the same period last year, according to the data from the Los Angeles branch of the state-r
June 19, 2016
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Korean banks’ short-term foreign liabilities exceed W40tr
[THE INVESTOR] The net short-term foreign liabilities of major South Korean lenders have exceeded 40 trillion won (US$34.09 billion), raising concerns about the banks’ foreign currency soundness. According to analyst estimates, the combined foreign liabilities of the country’s six major banks that will mature in less than two years stood at 37.11 trillion won as of last week. The total owed by all local lenders currently stands well above 40 trillion won, considering the additional 2.9 trillion
June 19, 2016
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Eight in 10 lawmakers support constitutional revision
More than eight in 10 South Korean lawmakers support a constitutional revision, a survey showed Sunday, reflecting the growing recognition of the need for a change in the decades-old basic law.The survey, conducted by Yonhap News Agency on all 300 lawmakers, also found that more than 45 percent of the lawmakers favor a revision to change the current single-term, five-year presidency into two four-year terms. 123rf.The survey came as the politically sensitive issue of revision resurfaced last wee
PoliticsJune 19, 2016
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Korean banks' short-term foreign liabilities surpass 40 tln won
The net short-term foreign liabilities of major South Korean lenders have surpassed 40 trillion won ($34.09 billion), market sources noted Sunday, a potential threat to the banks' foreign currency soundness, especially following what many see as an imminent U.S. rate hike.According to the sources, the combined foreign liabilities of the country's six major banks that will mature in less than two years stood at 37.11 trillion won as of last week.The total owed by all local lenders currently stan
June 19, 2016