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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7 countries interested in K-9 guns: sources
Seven countries from Asia, Europe and Africa have expressed their intent to purchase South Korea’s K-9 Thunder self-propelled guns at Eurosatory international defense expo, military and industry sources said Wednesday.The five-day defense and security industry trade show brought together a total of 1,600 companies from 70 countries and is set to conclude on Friday.The 155-millimeter K-9 howitzer is on the forefront of the South Korean military technologies demonstrated at the Eurosatory. The Eur
DefenseJune 15, 2016
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Doubt over listing of KEPCO’s power generation units rising
[THE INVESTOR] The stock-listing of six power generation affiliates of state-run Korea Electric Power Co. that the government proposed Tuesday may face difficulties mainly due to insufficient investor interest, market watchers said. “Despite the government’s expected strong push in the latter part of this year, partial public stock offering of a state-run company is likely to face little interest from investors,” said Yoon Hee-do, a stock market analyst from Korea Investment & Securities. The ta
June 15, 2016
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KOICA helps Myanmar cope with effects of climate change
BAGAN, Myanmar -- Endless rows of yellow-green, tender young trees soughed in the breeze, churning out rustling sounds across a serene forest in Bagan, Myanmar. A 10-minute walk led to a more exuberant section where taller and lusher eucalyptuses, neems and acacias towered on the backdrop of a mountain. The once barren land is turning into a greener neighborhood for the agrarian residents thanks to assistance from the Korea International Cooperation Agency. A resident waters a tree on June 9 at
Foreign AffairsJune 15, 2016
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'Women face higher smartphone addiction risk'
Kim Ji-yeon, a 25-year-old Seoulite, starts her day by checking her Instagram. She usually posts selfies, photos of food she ate and sometimes pictures of her dog. “I usually post something before I go to bed,” she said. “And it feels nice to wake up in the morning and find out how people responded. It’s like my morning ritual.”Kim said she is addicted to her smartphone “just as much as everyone else she knows.” She carries it with her everywhere, all the time, every day. She charges her phone b
Social AffairsJune 15, 2016
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Hyundai Motor may partner with Uber
[THE INVESTOR] U.S.-based ride-hailing service provider Uber Technology’s employees attended Hyundai Motor’s autonomous technology seminar Wednesday, the automaker confirmed, raising speculation of the two firms’ possible tie-up in the self-driving sector. “It is true that Uber’s working-level employees have joined a two-day autonomous technology seminar held in Hyundai’s research center,” a Hyundai Motor spokesperson told The Korea Herald by phone. The closed-door seminar was held together with
BusinessJune 15, 2016
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Lotte chairman shows confidence amid widening probe
Lotte Group chairman Shin Dong-bin said Wednesday that he would push for an initial public offering of Hotel Lotte by the end of the year, despite the widening probe by prosecutors into his 90 trillion won ($76.7 billion) empire over alleged creation of slush funds and lobbying.Offering his first apology for causing public concerns, the chairman denied rumors that the listing of Hotel Lotte will be put off indefinitely, stressing that the plan is a pledge he made to the people. “I really feel so
June 15, 2016
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Korean stocks not likely to gain developed status in long run
[THE INVESTOR] South Korea is not likely to get its stock market included in the Morgan Stanley Capital International’s Developed Markets in the long run, as the financial authority remains unchanged over its currency exchange regulations, financial regulators and analysts said.The MSCI announced Tuesday in New York that the global index provider will not include Korea on its “review list” for potential reclassification of its stock market to advanced status at least until after 2017.“The recent
June 15, 2016
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Kakao to shut online video service Daum TV Pot
[THE INVESTOR] Mobile messenger Kakao will end its video service Daum TV Pot and combine it with streaming video service KakaoTV in September.Daum TV Pot features around 270 channels, in collaboration with TV broadcasters, content firms and individuals who run their own online broadcasting channels.Users can share video content posted on KakaoTV on Kakao’s other social network services including KakaoTalk and KakaoStory.Free on-demand movies, Web dramas, and live-streaming videos are available o
TechnologyJune 15, 2016
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Samsung lures game aficionados with VR tech
[THE INVESTOR] Samsung Electronics is showcasing its Galaxy S7 smartphone and virtual reality headset Gear VR at the E2 2016, the world’s largest game trade show, held in Los Angeles from June 14 to 16.The Galaxy S7 and its curved-display variant Galaxy S7 edge are the first smartphones that support the Vulkan, a cross-platform application programming interface which can improve the graphics of mobile games by fully utilizing multi-core mobile processors.At the trade show, Samsung also showcased
TechnologyJune 15, 2016
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KDB’s neglect fueled Daewoo Shipbuilding crisis
[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering’s current difficulties were fueled by neglect by its biggest shareholder Korea Development Bank, the Board of Audit and Inspection announced on June 15. According to the BAI, the state-run bank neglected its duty in monitoring the shipbuilder’s accounts and financial stability. The KDB holds 49.7 percent of DSME, making it the biggest shareholder as well as the shipbuilder’s main creditor. Daewoo Shipbuilding and Marine Engineering.Accor
IndustryJune 15, 2016
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[Ana Palacio] Tips for the TTIP
Three years ago, the United States and the European Union launched negotiations on the Transatlantic Trade and Investment Partnership, promising to complete them on “one tank of gas.” But now the talks are running on fumes, with sniping on both sides and the political window for an agreement closing fast.The obstacles that the TTIP negotiations have run up against are not exclusive to that agreement. They reflect a broader trend -- one that demands a fundamental rethink of the prevailing approac
ViewpointsJune 15, 2016
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[Gordon Brown] Britain’s future lies in leading, not leaving, EU
Can the United Kingdom ever reconcile itself to being part of Europe? If recent British newspaper headlines about the June 23 referendum on continued European Union membership are any guide, the answer appears to be a decisive “no.”Proponents of leaving the EU have campaigned on fear of runaway immigration and a cascade of purported dangers -- whether delivered by boat or bomb -- to the British way of life. Their opponents, who want the U.K. to remain part of Europe, highlight another fear: the
ViewpointsJune 15, 2016
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Record-low interest rates leading to weak deposit rates of Korean banks
[THE INVESTOR] With the Bank of Korea reducing its policy rate to a record low of 1.5 percent, interest rates paid by local banks have dropped to zero percent, which could mean negative returns on bank deposits when adjusted for price inflation, according to market observers on June 15. According to the observers, Citibank Korea has cut the annual interest rate on its savings accounts for companies to 0.01 percent from 0.1 percent. A 0.01 percent interest rate submits 1,000 won ($0.85) per year
June 15, 2016
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[Peter Sutherland] Saving our drowning humanity
In the last week of May, at least 1,050 migrants and asylum seekers died in the Mediterranean Sea, victims of the international community’s unwillingness to address the needs of the world’s most vulnerable people. More than 2,800 migrants have died at sea so far this year -- up nearly 40 percent from the same period in 2015. Almost all of those deaths could have been prevented. With every life that is extinguished, we are losing a bit of our humanity.Clearly, the international response to the re
ViewpointsJune 15, 2016
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[David Ignatius] Helping Venezuela off the ledge?
With Venezuela spinning into chaos and collapse, the Obama administration has pondered how to nudge the imploding nation toward political change -- without making Uncle Sam a target. The administration appears to have found the right formula this week. Secretary of State John Kerry announced Tuesday at a meeting of the Organization of American States that the U.S. would support an OAS plan for a “fair and timely” recall referendum that could replace the failing government of Venezuelan President
ViewpointsJune 15, 2016
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[Mohamed A. El-Erian] Bank of Japan faces a tough dilemma
As central banks in advanced economies -- including the Bank of England, the Bank of Japan, the Swiss National Bank and the U.S. Federal Reserve -- hold their policy meetings this week, they will all confront tricky questions about the management of national liquidity and cross-border influences.The most fascinating discussion, however, will take place at the Bank of Japan, which has an additional challenge: It has moved closest to the line that separates effective policy measures from ineffecti
ViewpointsJune 15, 2016
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KDB’s neglect fueled Daewoo Shipbuilding crisis
[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering’s current difficulties were fueled by neglect by its biggest shareholder Korea Development Bank, the Board of Audit and Inspection announced on June 15. According to the BAI, the state-run bank neglected its duty in monitoring the shipbuilder’s accounts and financial stability. The KDB holds 49.7 percent of DSME, making it the biggest shareholder as well as the shipbuilder’s main creditor. According to BAI, KDB did not analyze the shipbui
June 15, 2016
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Association demands swift decision on SKB-CJHV M&A
[THE INVESTOR] A group of cable TV operators on June 15 urged the government to make a swift decision on the merger and acquisition of IPTV firm SK Broadband and cable TV company CJ HelloVision.“Constant efforts should be made to restructure the broadcasting and communications market, and to attract new investment,” said the Korean Cable Television Association, asking state regulators to speed up the process of approving the M&A.The KCTA said the prolonged review sessions of the regulators are w
TechnologyJune 15, 2016