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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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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Panel decision put prosecution in dilemma over Dior bag case
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Korea to face another massive shortfall in tax revenue
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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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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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S. Koreans fined for unauthorized contact with N. Koreans
South Korea has imposed fines on seven members of a local civic group for their unauthorized contact with North Koreans in China last month, officials said Monday.Without the government's approval, they held a meeting with their North Korean counterparts in Shenyang in late May to discuss how to hold a joint summit event designed to commemorate the historic inter-Korean summit in 2000.Seoul's unification ministry earlier rejected the group's request for approval of their contact, citing the grav
North KoreaJune 13, 2016
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The Investor, a global hotline for corporate Korea and investors
English online business news service The Investor opened Monday, with the aim of providing investors with timely, accurate and influential information on Korea’s business scene. Founded by Korean media and lifestyle company Herald Corp., The Investor delivers expert analysis, breaking stories and in-depth market coverage in English for people who make decisions around the globe. Foreign investments currently make up around 50 percent of ownership in major conglomerates in Korea. Despite signifi
June 13, 2016
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Carmakers intensify competition in plug-in hybrid car sector
Kia Motors Corp., South Korea's second-largest carmaker, said Monday it plans to roll out a plug-in hybrid version of its K5 midsize sedan next month, the latest in a series of moves by carmakers to jostle for a position in the country's nascent market for eco-friendly vehicles.The vehicle, debuted at the Busan International Motor Show earlier this month, can travel up to 44 kilometers in electric mode. When the battery runs out, the vehicle can be switched to hybrid mode.Kia's larger sister com
MobilityJune 13, 2016
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Creditors urge Daewoo Shipbuilding workers not to sit down
Creditors of Daewoo Shipbuilding & Marine Engineering Co. on Monday urged the embattled shipbuilder's workers to refrain from going on strike, saying that a potential walkout would deter the ongoing efforts to salvage the financially shaky firm, industry sources said.According to the sources, some 7,000 unionized workers at Daewoo Shipbuilding are scheduled to vote on whether or not they will launch a strike, claiming that the shipbuilder's restructuring schemes submitted to its creditors only c
IndustryJune 13, 2016
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Certificate of origin issuance hikes for exports to China
The Korea Chamber of Commerce and Industry said Monday its issuance of certificates of origin (C/O) has sharply risen for local export items bound for China.A total of 31,488 certificates of origin were issued by the end of May for tariff cuts under a free trade agreement with China, according to the chamber.A C/O is a key shipping document needed for preferential tariffs under an FTA. South Korea and China’s bilateral FTA went into effect on Dec. 20 last year.The Seoul-based KCCI, which has reg
IndustryJune 13, 2016
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Foreigners pick marinated crab as most challenging Korean food
Foreign visitors to South Korea chose "ganjang gejang," or raw crab marinated in soy sauce, as the most challenging Korean food, a survey showed Monday.According to the survey of 726 foreigners who visited the country between April and May, 508 respondents, or 65 percent, said the marinated crab is the most difficult dish to eat. (Instagram upload by seungtae.kim) Instagram upload by guun_95"Cheonggukjang," or soup made out of fermented bean paste, came second with 16.7 percent, followed by "san
FoodJune 13, 2016
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Prosecutors summon executive of Volkswagen Korea over emissions scandal
Prosecutors summoned an executive of the local unit of Volkswagen on Monday over their widening probe into the German carmaker's alleged irregularities that came into light following its emissions scandal.The Seoul Central District Prosecutors' Office summoned the executive in charge of the certification process, identified only by his surname Yoon, for questioning to gain a reference.Prosecutors said his status can change to that of a suspect following the investigation, if necessary.Yoon is th
IndustryJune 13, 2016
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Korea, Senegal strengthen ties
The newly established Korea-Senegal Commerce, Industry and Culture Association held its first meeting at the Korea-Africa Center in Seoul on May 26.The KOSECICA was established to strengthen ties between Korea and Senegal by promoting economic, social, cultural and educational cooperation between the two countries. Former Korean Ambassador to Senegal and first KOSECICA president Choi Dong-hwan revealed during the meeting that the association planned to especially put an emphasis on bolstering in
June 13, 2016
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Park calls for parliamentary support to pressure N.K. over nuke program
President Park Geun-hye on Monday urged for parliamentary support to pressure North Korea into renouncing its nuclear ambitions and breaking out of international isolation, stressing that Pyongyang's nuclear program poses a "fundamental" hurdle to enhancing cross-border relations.During her speech marking the launch of the newly elected National Assembly, Park also criticized Pyongyang's recent overtures for dialogue, casting them as a "deceitful" tactic and expressing concerns that they would b
North KoreaJune 13, 2016
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Deposits at non-bank institutes hit record high in April
Deposits at non-bank financial institutions, including savings banks, have reached a record high, central bank data showed Monday, as people sought to maximize their interest earnings while the key rate remains at a record low.As of end-April, deposits held at non-bank financial institutions came to some 2,022.15 trillion won ($1.725 trillion), according to the data compiled by the Bank of Korea.The April reading marks a great increase from 1,911.1 trillion won tallied at the end of 2015. It als
June 13, 2016
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Nami Island visited by 7% of foreign tourists in Korea
TravelJune 13, 2016
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Ruling party to hold national convention on Aug. 9
The ruling Saenuri Party said Monday that it would hold a national convention on Aug. 9 to elect a new leadership, which will replace the current interim arrangement launched in the wake of the party's crushing defeat in the April parliamentary polls.Currently, the party is led by the so-called emergency planning and innovation committee tasked with reorganizing the party and shoring up public support, which has waned in the wake of the factional rift and high-profile infighting.The committee is
PoliticsJune 13, 2016
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8 Chinese firms among top 12 smartphone makers in Q1: data
Eight of the world's top 12 smartphone vendors were Chinese brands, while market leader Samsung Electronics Co. and No. 2 Apple Inc. suffered a slight decline in their market shares in the first quarter of the year, industry data showed Monday.The South Korean tech giant sold 81.5 million smartphone units around the globe in the January-March period, according to the data compiled by the industry tracker IC Insights.Its archrival Apple sold 51.6 million units during the cited period, the data sh
TechnologyJune 13, 2016
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Foreigners shed Korean stocks in May for profit-taking
Foreign investors turned to net sellers of South Korean stocks last month to lock in recent gains, the country's financial watchdog said Monday. Foreigners sold a net 142 billion won ($120 million) worth of local stocks in May, the Financial Supervisory Service said in a statement. Foreign investors' accumulated holdings of domestic stocks reached 433.96 trillion won, or 29 percent of the total market capitalization, the statement said.But they bought a net 3.05 trillion won in stocks in the fir
June 13, 2016
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Korean card firms to protest Visa over fee hike
South Korea's eight credit card companies are moving to protest a decision by U.S. industry giant Visa Inc. to increase fees local card users pay for their overseas use, industry sources said Monday.Last month, Visa informed the local card firms that it has decided to hike fees on six types of overseas services, including overseas settlements. The decision also calls for a rise in commissions the South Korean firms pay to Visa.The fee increase, however, doesn't apply to credit card holders in Ja
June 13, 2016
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Korea sees rise in self-employed 30-somethings
The number of self-employed South Koreans in their 30s has been on a steady rise since late last year as a prolonged economic slump forces more young people to set up one-man operations instead of finding jobs, a report showed Monday.According to the report by the Korea Labor Institute, thirtysomethings with one-man operations increased by 17,000 in March from a year earlier, compared with a rise of 14,000 in February.The number has been on the rise since October last year, hitting as high as 25
June 13, 2016
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Park to deliver speech to mark opening of new legislature
President Park Geun-hye will deliver a speech on Monday morning to mark the opening of the newly-elected National Assembly with a focus on securing legislative support for her management of state affairs, aides said.It will mark the fifth time for Park to deliver a speech at parliament.After her speech, the president is set to meet with parliamentary leaders, including National Assembly speaker Chung Sye-kyun and the leaders and floor chiefs of the ruling and opposition parties, her aides said.S
PoliticsJune 13, 2016
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N.K. leader vows nuke development during visit to defense university
North Korea's leader Kim Jong-un has reaffirmed his intent to stick to nuclear weapons when making his first military-related public activity since the party congress in May, the North's state media showed Monday.Kim conducted the so-called field guidance at National Defense University, which the communist country says contributes to its defense industry, according to the North's official Korean Central News Agency. It did not specify the date of his visit.Kim was quoted as saying by the KCNA th
North KoreaJune 13, 2016
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U.S. should propose comprehensive peace treaty talks with N.Korea: Joel Wit
The United States should increase pressure on North Korea but at the same time make clear its willingness to hold comprehensive negotiations encompassing not only denuclearization, but also a peace treaty and normalization of diplomatic relations, a U.S. expert has said.Joel Wit, a former State Department negotiator with Pyongyang, made the suggestion in a recent policy suggestion report, stressing that President Barack Obama's policy on the North failed to achieve any progress towards U.S. obje
North KoreaJune 13, 2016
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Approximately 20 killed in Florida club shooting
ORLANDO -- A gunman wielding an assault-type rifle and a handgun took hostages and opened fire inside a crowded Florida nightclub, killing approximately 20 people dead and wounding 42 others before dying in a gunfight with SWAT officers, police said Sunday.Police Chief John Mina also said the shooter had some sort of “suspicious device.'' He said the suspect exchanged gunfire with an officer working at the club around 2 a.m., then went back inside and took hostages. Around 5 a.m., authorities se
InternationalJune 12, 2016