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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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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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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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Global drama stars gather for 2024 Seoul International Drama Awards
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Seoul stocks tumble to near 1-month low
[THE INVESTOR] South Korean share prices tumbled to near one-month low on June 16 on the cautious tone of the US Federal Reserve on the global economy amid rising risks involving Britain’s exit from the European Union. The local currency closed at 1,171.4 won against the US dollar, up 1.9 won from the previous session’s close.The benchmark Korea Composite Stock Price Index lost 16.84 points, or 0.86 percent, to close at 1,951.99, booking a sixth straight losing session. Trade volume was at 432.9
June 16, 2016
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4 state firms receive lowest grades in evaluations
[THE INVESTOR] Four state-run corporations -- Korea Resources Corp., Korea National Oil Corp., Korea International Broadcasting Foundation and Facility Management System -- have received the lowest marks in their work performance evaluation for last year. Announcing the results of its assessment on June 16, the panel, under the Ministry of Strategy and Finance, evaluated 116 state-run corporations and institutions based on their management performance last year. A total of 161 experts, including
June 16, 2016
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[HERALD INTERVIEW] Youths are solution to faltering democracy: Lawmaker
One of the most talked-about campaign ads in the last general election featured a candidate mimicking the main character of “House of Cards,” a popular U.S. show depicting the behind-the-scenes power struggle in the world of politics. In a parody video clip that went viral, then-candidate Keum Tae-sup plays Frank Underwood, a Machiavellian politician played by actor Kevin Spacey. As the main theme music of the show plays in the background, Keum exchanges text messages with one of his campaigner
PoliticsJune 16, 2016
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Samsung buys U.S. cloud services firm
South Korean tech giant Samsung Electronics Co. said Thursday it has acquired U.S. cloud service company Joyent Inc. to cope with rising demand for cloud platform services.Joyent, a San Francisco-based cloud provider, has come under Samsung's wing as of Wednesday (U.S. time), the South Korean tech firm said in a statement. Samsung's acquisition of the U.S. startup firm signals its interest in cloud computing that has become fundamental in providing users with reliable services on their mobile an
CompaniesJune 16, 2016
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Moody's says tax revenue growth positive for Korea's ratings
An increase in South Korea's tax revenues in the first four months of this year will have a positive effect on its credit ratings as it can support the government's costly stimulus packages, Moody's Investors Service said Thursday.In December, Moody's upgraded Korea's credit ratings to Aa2 from Aa3 and changed the outlook to stable from positive, citing its stronger economic and fiscal fundamentals compared to China and euro-zone countries. "The increased tax revenue reflects an increase in corp
June 16, 2016
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[Super Rich] Shinsegae to tap overseas liquor market
The recent takeover bid by Korean retail giant Shinsegae Group for “Jeju Soju” last week proves the passion of the group’s vice chairman Chung Yong-jin for the liquor business again.Chung, who is known to be a wine enthusiast, has expanded the company’s business in this area for the past few years by entering into the wine import and distribution business, and by opening the craft beer-centric bar Devil’s Door in Seocho-dong, an affluent part of southern Seoul. Shinsegae Group vice chairman Ch
IndustryJune 16, 2016
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[Editorial] Resource assets
As part of its campaign to reform the public sector, the government is pushing to scale back the overseas resource development business of state-owned corporations. The government’s reform plan, which was disclosed Tuesday, calls for selling off unprofitable assets held by these companies. Yet it should take care not to undermine the nation’s fragile energy security.Korean companies, both private and public, invested heavily in overseas resources under former President Lee Myung-bak. Amid high o
EditorialJune 16, 2016
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[Editorial] Fettering universities
Presidents of Korean universities seldom criticize the Education Ministry in public, as they know only too well that they gain nothing by falling into disfavor with a government agency that has the power to determine the amount of financial support they get. Yet principals of 10 major private universities in Seoul got what they had to say off their chests in a seminar held Tuesday to mark the launch of the “Future University Forum.” Choi Kyung-hee, president of Ewha Womans University, criticized
EditorialJune 16, 2016
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[Mahendra P. Lama] Implications of rising temperatures in Himalayas
Forests in the highlands act as a critical sink for carbon, thereby facilitating carbon sequestration to the highest order. And winter is the time when the forest cover is under a cold spell, which helps it to regenerate. But the Himalayan region has been witnessing unbelievably warm and pleasant winters in recent years. The rise in temperature in the region has not only affected the forest cover of the region but has also caused the drying up of many traditional sources of water. Mul phutnu (bu
ViewpointsJune 16, 2016
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Onerous overtime practice in Japan
Working efficiently in shorter hours and leading an enriched life both at home and at work. Employing a variety of personnel resources and dealing with the declining birthrate and aging society. In order to achieve these goals, it is vital to change the culture of working long hours. The Japan government’s plan for the dynamic engagement of all citizens and the Basic Policy on Economic and Fiscal Management and Reform, also referred to as the “big-boned policy,” regards reforming the culture of
ViewpointsJune 16, 2016
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[Cass R. Sunstein] The problem with U.S. Congress
The U.S. Congress is in the midst of a breakdown in longstanding institutional norms. The latest example is the Senate’s refusal to hold confirmation hearings for Merrick Garland, President Barack Obama’s nominee for the Supreme Court -- a refusal that is probably without precedent. But something broader is occurring, and it threatens to undermine the federal government’s ability to carry out its central functions. To see what has happened and what might be done about it, we should say something
ViewpointsJune 16, 2016
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Police raids civic groups over election violation charges
Police said Thursday they had begun raiding about 10 offices of civic groups in relation to suspected violations while campaigning against candidates for the April 13 general election.The National Election Commission has filed a report with the Seoul Metropolitan Police Agency against the “2016 general election citizens’ network” made up of progressive activists including the People’s Solidarity for Participatory Democracy. The NEC accused the network of holding a de facto rally under the guise
PoliticsJune 16, 2016
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[Jay Ambrose] Obama’s rhetoric causes spikes in gun sales
To start to do something about the horror, the pain, the awfulness of mass-murder terrorism in the United States, it would help if we focused more on real fixes instead of gun control. Some believe the instruments of evil are the evil themselves and here is what happens: President Obama advocates laws that would likely accomplish zip as his rhetoric puts record numbers of guns on the streets.“Fear of gun-buying restrictions has been the main driver of spikes in gun sales, far surpassing the effe
ViewpointsJune 16, 2016
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A dumb move on path to ‘smart’ nationhood
Lending a significant push to Thailand’s ambition to become a “smart nation,” the Information and Communication Technology Ministry is to be revamped in September as the Digital Economy and Society Ministry.However, realigning the ministry and its direction in pursuit of a fully “digital economy” will be the easy part. The greater challenge will be in implementing reforms in an entrenched and undeservedly proud bureaucracy that, as matters stand, might undermine any progress made towards that va
ViewpointsJune 16, 2016
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Celltrion applies for clinical trials for Remsima SC
[THE INVESTOR] Celltrion Inc. announced on June 16 that it has applied for a permit to carry out human clinical tests for Remsima SC.Celltrion is an Incheon-based biotechnology firm headed by Seo Jung-jin. Remsima SC is a new line of the autoimmune disease treatment Remsima. Unlike Remsima that requires intravenous injection, Remsima SC can be administered by the patient through subcutaneous injection, the company said. Remsima is a biosimilar based on Remicade developed by Jansen Global Service
IndustryJune 16, 2016
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Seoul, Paris to consider additional sanctions on N.K.
South Korea and France held a defense ministerial meeting Wednesday during which they agreed to jointly consider additional sanctions against North Korea, while boosting military and defense industry cooperation between the two countries.According to the Ministry of National Defense, South Korean Defense Minister Han Min-koo and his French counterpart Jean-Yves Le Drian have agreed that Pyongyang’s nuclear and missile programs pose grave danger to both countries, and to discuss joint actions to
DefenseJune 16, 2016