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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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Panel decision put prosecution in dilemma over Dior bag case
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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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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Hanjin chairman asks Seaspan’s Wang for price cut
[THE INVESTOR] Hanjin Group chairman Cho Yang-ho sat down with Gerry Wang, the owner of the world’s largest container firm Seaspan Corp., to persuade him to cut chartering prices. Wang reportedly responded “positively” to Cho’s overtures, according to Hanjin Shipping executives. This is the first time that Cho stepped up to directly intervene in ship charter cost issues. Cho met with Wang on June 14 at the Korean Air headquarters in downtown Seoul. Cho Yang-ho(left) and Gerry Wang.In May, Wang
June 15, 2016
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[Graphic News] Korea‘s net worth surpasses W12 quadrillion
Korea’s total net worth surpassed 12 quadrillion won ($10 trillion) for the first time last year. According to preliminary data from the Bank of Korea, the country’s wealth, calculated as total assets minus total liabilities, came in at 12,359.5 trillion won ($10.54 trillion) at the end of 2015, up 5.7 percent from a year earlier. That is 7.9 times the size of Korea’s gross domestic product in 2015. Nearly 87 percent of that wealth was in land and buildings. The net worth of Korean households an
June 15, 2016
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Drinking ban sought for Seoul City parks
Twenty-two members of the Seoul City Council proposed Monday a bill to impose a 100,000 won ($85) fine on people who consume alcohol in Seoul’s parks and playgrounds.According to councilor Kim Gu-hyun, the regulation is anticipated to foster a responsible drinking culture that will cut down on the social and economic problems caused by excessive drinking. (Yonhap)The proposed ordinance gives the Seoul mayor the right to designate parks and children’s playgrounds, among other public spaces, as
Social AffairsJune 15, 2016
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Seo In-guk and Choi Soo-young swindle tax-evaders on ‘Squad 38’
Actor Ma Dong-seok, singer and actor Seo In-guk and singer and actress Choi Soo-young are set to star on the OCN’s first Friday-Saturday TV series “Squad 38.”“Squad 38” centers on a task force that uses the extraordinary measure of “white swindling” to collect taxes from those who evade large tax sums.In the upcoming comedy-drama series, a fair-minded tax collector (Ma Dong-seok) becomes frustrated with injustice and recruits “Squad 38,” a task force to swindle the tax evaders. After a clever sw
TelevisionJune 15, 2016
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[Herald Review] Harvard Krokodiloes fuse a cappella and humor
Harvard University’s oldest a cappella singing group, the Harvard Krokodiloes, made its way back to a Seoul stage Tuesday as part of its 2016 summer tour of Asia. The 12-member all-male Kroks performed their one-night solo show at the Mirae Asset Center’s West Tower on the KF Gallery Open Stage, coupling the nostalgic sounds of barbershop vocal harmonies with cheeky, innocent humor. Founded in 1946, the Krokodiloes is a group of chic tuxedo-sporting undergraduates who perform songs from the Gr
PerformanceJune 15, 2016
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Taxi-driving, most coveted job in N.K.:RFA
North Koreans are paying bribes to become taxi drivers, Washington-based Radio Free Asia said Monday.RFA reported that driving taxi is one of the most sought-after jobs now in the reclusive regime pinched under global financial sanctions, as the job brings in foreign currency and provides privileged working condition.The media quoted a North Korean informant who was available for an interview during a brief trip to China, that taxi passengers in North Korea often pay in U.S. dollars or Chinese y
North KoreaJune 15, 2016
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Blue House says no specific date for new airport announcement
Amid escalating tensions over a new airport site in South Gyeongsang Province, the presidential office said Wednesday that no specific date has been set for the government‘s announcement on the 10 trillion won ($8.5 billion) project. “The Transport Ministry will make an announcement as soon as a preliminary feasibility study on the new airport project in Yeongnam region is completed,” said presidential spokesman Jung Youn-kuk. “No specific date has been set yet.”Transport Ministry in Sejong City
IndustryJune 15, 2016
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[LOTTE CRISIS] Who is Hwang Gak-kyu?
[INVESTOR] Hwang Gak-kyu, a close aide to Lotte Group chairman Shin Dong-bin, is under the spotlight amid the widening probe by prosecutors into Korea’s retail giant over alleged creation of slush funds and embezzlement. Hwang is the president in charge of policy coordination of the group, which is regarded as the control tower of the retail giant. The team is responsible for various mergers and acquisition deals of the conglomerate and was also in charge of constructing Seoul’s 123-story skyscr
MobilityJune 15, 2016
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[DECODED] Park Hyeon-joo’s men
Park Hyeon-joo is recognized as the brains behind the launch of Mirae Asset, one of Korea’s first asset managers to launch mutual and real estate trust funds in the country. As the founder and chairman of the firm, Park -- a graduate of Korea University in business administration -- worked his way up the corporate ladder at brokerages, and gained a keen trading sensibility. But like any great entrepreneur who has changed the world, Park was not alone in his quest to found Mirae Asset. The firm i
June 15, 2016
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[DECODED] Next in line at Mirae Asset?
Attention is now being drawn to who chairman Park Hyeon-joo, although just 58 and in the prime of his life, will groom as his successor at Mirae Asset Financial Group. The founder, openly critical of the father-to-son transfers of control common in Korea’s large family-owned conglomerates, has said on multiple occasions that he will not pass down control of the group to his children. Local media paid keen attention, however, when Park Ha-min, Park’s eldest daughter, joined Mirae Asset Global Inv
June 15, 2016
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‘The Vegetarian’ translator speaks out
Award-winning translator Deborah Smith said Wednesday that staying faithful to the spirit of a text was her priority. And the spirit that she tried to preserve in Han Kang’s “The Vegetarian” was one of “tenderness and terror at the same time, never too far one way, always this very perfect balance,” said Smith at a press conference held at the Seoul International Book Fair on Wednesday.“The style was so controlled, restrained, without being cold and indifferent, and so those two things were the
BooksJune 15, 2016
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Tax agency to crack down on 36 tax evaders
[THE INVESTOR] South Korea will start an intensive investigation targeting dozens of individual and corporate offshore tax evaders who did not voluntarily pay taxes, the National Tax Services said on June 15. The NTS, the country’s tax authority, said that some 36 people are subject to the probe, including three or four suspects who hid assets in tax havens and were listed in the leaked files known as the Panama Papers. The crackdown comes as a six-month grace period offered by the tax agency en
June 15, 2016
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[DECODED] A reality check on ‘Korean IB’ dream
Global investment banking giants lament that their glory days are over. But for many Koreans, investment banking is still finance’s final frontier, all the more fascinating because it seems far beyond their reach. Park Hyeon-joo, arguably the most successful financier born in Korea, eyes Korea’s presence in the world of investment bankers, from which existing players have been retreating. He aims to grow his Mirae Asset Financial Group into Asia’s leading investment bank. “I have been dying to d
June 15, 2016
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Samsung to launch cheapest smartphone Galaxy On7 in Korea
[THE INVESTOR] Samsung Electronics is expected to launch another budget smartphone Galaxy On7 in Korea in the coming weeks via SK Telecom, sources said on June 15. The model is the Korean tech giant’s cheapest smartphone that is sold at 10,190 rupees ($153) exclusively in India currently. Launched in November, the phone features a 5.5-inch HD Display, a 13 million pixel rear camera, a 5 million pixel front camera and a 3000mAh battery. Samsung's cheapest smartphone Galaxy On7Sources said the K
TechnologyJune 15, 2016
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State auditor uncovers gross malpractice of KDB officials
[THE INVESTOR] State-run Korea Development Bank officials used debtor companies’ funds for housing, vehicles and entertainment, audit results showed on June 15.According to the Board of Audit and Inspection, KBD officials dispatched to oversee management of companies undergoing restructuring used the companies’ funds for unnecessary conveniences and entertainment.The audit showed that 16 KDB staff received housing from seven companies they were sent to oversee, while 36 bank officials used vehic
IndustryJune 15, 2016
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247 Korea to launch self-defense smartphone case via Kickstarter next month
Start-up company 247 Korea announced Monday that it would be launching a self-defense smartphone case through crowdfunding site Kickstarter in July. If the launch via Kickstarter is successful, the company plans to pitch its product on Indiegogo, another crowdfunding site, as well. Intended to serve as a means of self-defense, the smartphone case developed and produced by 247 Korea is equipped with a Taser-like stun gun that extends from the case upon the recognition of the user’s fingerprint vi
TechnologyJune 15, 2016
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Seoul stocks decline on 5th straight day
[THE INVESTOR] South Korean stocks fell for five straight sessions on June 15 as sentiment was down on the possibility over Britain leaving the European Union. Investors were also sitting on the sidelines ahead of the Federal Reserve‘s rate decision. The Korean won fell slightly against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 3.2 points, or 0.16 percent, to close at 1,968.83. Trade volume was at 371.5 million shares worth 4.49 trillion won ($3.82 billion), with loser
June 15, 2016
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EU on alert over Korea’s stance on diesel cars
[THE INVESTOR] European countries are on alert after the Korean government decided to curb diesel-fueled cars as part of measures to counter fine dust in the country. The European Commission, the executive body of the European Union, has put Korea’s diesel-related measures as one of the agendas to discuss during its regular meeting next week, according to a report by local media Herald Business, which cited a government official. The move indicates that the countermeasure will be a serious hit t
BusinessJune 15, 2016