Most Popular
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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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Korea to face another massive shortfall in tax revenue
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Photo news] Faker Mercedes
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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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'Shaman says president will die,' caller warns
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[Graphic News] Migrant death toll on rise again
More than 2,500 migrants have drowned in the Mediterranean while attempting to cross into Europe so far this year, the U.N. Refugee Agency says, with at least 880 drowning in the past week alone.William Spindler, spokesman for the agency, said 2,510 people have died making the perilous crossing so far this year, compared to 1,855 in the first five months of 2015 -- an increase of 35 percent. Fewer than 60 died in the same period in 2014.Most migrants in the recent wrecks were from Syria, Afghani
World NewsJune 1, 2016
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Bondholders’ approval gives tailwind to Hyundai Merchant
Troubled Hyundai Merchant Marine has won bondholders’ full support on restructuring total bond debt over 800 billion won ($670 million), bringing much needed relief to the cash-strapped firm. Bondholders approved the nation‘s second-largest container transporter’s proposal to reschedule debt worth 174.2 billion won with nearly full consent during two meetings held at Hyundai Group’s headquarters in Seoul on Wednesday. “I agreed with the plan with the expectation that the company has survival pro
June 1, 2016
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[Editorial] Rough waters ahead
The outlook for the Korean economy is getting increasingly murky as uncertainty is growing over U.S. monetary policy, the referendum in Britain on European Union membership, and the ongoing restructuring of ailing companies.A strong headwind is blowing for Korea, as the U.S. central bank is likely to raise its key interest rate in the coming months. Federal Reserve Chair Janet Yellen said Friday that an interest rate hike in the coming months would “probably” be appropriate. She did not specific
EditorialJune 1, 2016
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[Editorial] Quarrel over dust
Although President Park Geun-hye called for “drastic” measures to improve the worsening air quality three weeks ago, the administration has not come up with any solutions yet.The delay is attributable to the inability of the related ministries to iron out their differences.The Environment Ministry is seeking to raise diesel prices to curb the demand for diesel vehicles. In its view, no significant improvement in air quality can be expected from measures such as installing emissions reduction equ
EditorialJune 1, 2016
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[David Ignatius] Trump would hand China the world
Hong Kong television commentator Wu Jun observed recently that despite Donald Trump‘s anti-Beijing rhetoric, he “could in fact be the best president for China.” The Chinese analyst is right: A Trump presidency could open the way for China’s strategic dominance in Asia and elsewhere. Wu‘s comment was focused on Trump’s mercantilist style, evoking a world in which Trump and President Xi Jinping, two “big guys,” might sit around a table at Mar-a-Lago and cut deals without worrying about human righ
ViewpointsJune 1, 2016
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[J. Bradford DeLong]Uncertainty about the Fed’s rate policies
The U.S. Federal Reserve is increasingly at risk of losing credibility — and for good reason. As Narayana Kocherlakota, former president of the Federal Reserve Bank of Minneapolis, recently argued, Fed officials seem to be balancing their stated aim of keeping inflation near 2 percent over the long term with a host of other, inexplicit, considerations.In public statements, officials have given some hints as to what these other considerations may be. They seem to include the risk of distortion in
ViewpointsJune 1, 2016
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[Jean Pisani-Ferry] A British test of reason
If voters in the United Kingdom decide in the country’s referendum on June 23 to leave the European Union, it will not be for economic reasons. They may choose “Brexit” because they want full sovereignty, because they hate Brussels, or because they want migrants to return home, but not because they expect great economic benefits.The pro-Brexit camp initially appeared to be holding two strong economic cards. The first was U.K. citizens’ overwhelming rejection of their country’s net fiscal transfe
ViewpointsJune 1, 2016
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[Noah Smith] Two ways to encourage Japanese to have kids
Japan would like to stabilize its rapidly aging population, and there are really only two ways to do that.It can let in tons of immigrants, or it can find some way to raise fertility. Otherwise, it had better resign itself to decades of sluggish economic growth, as hard-working young people are required to carry a larger and larger pyramid of retired old people on their backs. Its social security system will go bankrupt, the health care system will struggle, and interest rates might stay at zero
ViewpointsJune 1, 2016
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[Theda Skocpol] Republicans ride the beast they created
During a typical week in late May, Donald J. Trump, the presumptive Republican nominee for the U.S. presidency, grabbed headlines yet again. He declared a popular former president to be a “rapist,” flipped his position on one policy after another, bragged that his running mate could be “anyone” who supported him, and told the National Rifle Association that Hillary Clinton, the likely Democratic nominee, would “release violent criminals from jail.”Perhaps most worrisome from a global perspective
ViewpointsJune 1, 2016
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Korea runs pell-mell over fine dust measures
President Park Geun-hye’s recent calls for plans to reduce fine dust have certainly sent out a powerful signal to the government, pushing it to find an immediate solution to a problem that has been around for years.But with the lack of a policy direction or a pangovernmental control tower to take charge, individual ministries continue to remain at odds on how to accomplish the suggested goal.“A state-level measure should be established to address fine dust, which is a crucial problem threatening
PoliticsJune 1, 2016
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First shamanism museum opens
South Korea’s first shamanism museum, located at Geumseongdang Shrine, opened its doors in Eunpyeong-gu, northwestern Seoul last week. The shrine, close in style to the traditional Korean house, or hanok, was founded to appease the spirit of Prince Geumseong (1426-1457), who was ordered a lethal dose of poison upon charges of trying to reinstate the deposed King Danjong. Shamans and a Korean traditional percussion band celebrate the opening of the Shamanism Museum in Eunpyeong-gu in northwester
Social AffairsJune 1, 2016
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NPS to expand investment in private equities in Asia
Korea’s largest institutional investor National Pension Service said it will increase the proportion of overseas investment in private equities in the Asian region to around 30 percent in its long term strategy.Out of the 512 trillion won ($429 billion) pension fund, 19.5 trillion won is allocated as global private equity investment, according to Yang Young-sig, the head of global private market at the investment division of the National Pension Service.National Pension Service (Yonhap)“NPS aims
June 1, 2016
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Three booked for destroying controversial sculpture
Three college students who destroyed a controversial sculpture at Hongik University in Seoul were booked Wednesday. Seoul Mapo Police Station said it booked two Hongik University students and one public service worker for destroying an outdoor sculpture early Wednesday. Titled “It is Anywhere but Nowhere,” the artwork showed a hand gesture that symbolizes the ultra-right online community Ilbe. It was displayed from Tuesday as a graduation project of a 22-year-old arts major student surnamed Hong
Social AffairsJune 1, 2016
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Big Bang to release World Tour movie
At the end of June, Big Bang will release a movie tracing the world tour concerts the group held last year, YG Entertainment said Wednesday. The film, titled “Big Bang MADE,” will open June 30 exclusively at CGV theaters in Korea. The group’s agency YG released a poster for the film on its official blog and social media outlets Wednesday. “Big Bang MADE” recounts the group’s 66 concerts held across 32 cities throughout 13 countries in North and South America, Australia and Asia from last April t
PerformanceJune 1, 2016
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Dream Concert boasts stellar lineup
The 2016 Dream Concert, one of the largest K-pop concerts in Asia, will be held Saturday at the Seoul World Cup Stadium in Mapo-gu, Seoul. This 22nd edition will feature a stellar lineup of 28 acts this year, ranging from established superstars EXO and Taemin of SHINee to recent fan favorites like Mamamoo and VIXX. Other acts include popular girl groups GFriend and Red Velvet, as well as rising newbies CLC, I.O.I and NCT U. Model and actor Hong Jong-hyun, actress Kim So-hyun and Super Junior mem
PerformanceJune 1, 2016
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Women's groups slam crime prevention plan
A number of women’s groups expressed concerns over the government’s new measures to combat crimes against women, such as forced hospitalization of the mentally ill and getting rid of public unisex bathrooms, calling them impractical and even discriminatory. In a joint press release issued by nine agencies, including the ministries of gender equality and justice, the government on Wednesday introduced a number of measures to protect women against violent crimes.They included installing more surve
Social AffairsJune 1, 2016
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Bolshoi dancer jailed for acid attack released
MOSCOW (AFP) - The Bolshoi ballet dancer who masterminded an acid attack on the troupe’s artistic director has been released on parole, his lawyer told Russian media on Tuesday. Bolshoi soloist Pavel Dmitrichenko, who was sentenced to six years in prison in 2013 for orchestrating an acid attack on artistic director Sergei Filin, has been granted parole and is already “back at home in Moscow,” his lawyer Sergei Kadyrov told TASS news agency. Kadyrov did not specify when his client, who had been s
PeopleJune 1, 2016
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Chungmu Arts Center’s new head talks future of Korean productions
Newly appointed Chungmu Arts Center CEO Kim Seung-up has unveiled his vision for the arts center, which includes a heavy emphasis on creating and exporting more original Korean productions. Kim officially became head of the Chungmu Arts Center, formerly the Chungmu Art Hall, on Jan. 18, following the retirement of the center’s former leader Lee Jong-deok. On Wednesday, Kim met with press to announce his plans to make the Chungmu Arts Center the new “mecca of original Korean productions” and t
PerformanceJune 1, 2016
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Debate persists over redevelopment of Okbaraji Golmok
An old, narrow alley located in central Seoul’s Muhak-dong, Jongno-gu, known as Okbaraji Golmok or Inn Alley, is now 80 percent demolished, with very few buildings left to be knocked down in the area designated as a redevelopment zone in 2006.As is often the case with redevelopment plans, residents are split on its urban renewal. The alley was approved for redevelopment by Seoul Metropolitan Government in July 2015, citing it as “suitable for redevelopment considering the area’s poor infrastruct
Social AffairsJune 1, 2016
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Seoul Metro apologizes, vows to strengthen safety
Seoul Subway operator Seoul Metro apologized for the fatal accident on Saturday admitting that it was due to lax safety standards and flawed management system, vowing to implement preventive measures.“It was Seoul Metro’s fault for the loss of 19-year-old employee Kim, who was just like one of our sons and brothers,” said Jeong Su-young, head of Seoul Metro’s Infrastructure Management department during a press conference Wednesday at subway line No. 2 Guui Station. Kim worked for a company that
Social AffairsJune 1, 2016