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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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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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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[Editorial] Presidential veto
Following the April general election, the ruling and opposition camps both pledged to depart from their usual politics to establish a new tradition of collaboration in the 20th National Assembly. The new Assembly kicks off today, but the two camps are back in confrontational mode.What has strained relations between the two sides is a bill intended to allow parliamentary standing committees to hold hearings more frequently, thus helping them keep close tabs on state affairs.Under the current modu
EditorialMay 29, 2016
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[Megan McArdle] The danger of President Trump isn’t dictatorship
Let’s say Donald Trump manages to romp his way to the White House in November. The New Yorker’s Adam Gopnik paints a dire picture of what will follow: “If Trump came to power, there is a decent chance that the American experiment would be over. This is not a hyperbolic prediction; it is not a hysterical prediction; it is simply a candid reading of what history tells us happens in countries with leaders like Trump.”Gopnik goes on to assure us that “Countries don’t really recover from being taken
ViewpointsMay 29, 2016
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[Andrew Sheng] How do we escape the debt trap?
All of us are worried about growing global debt as a precursor to another round of crises. After the last global financial crisis, 2007-2009, global debt rose to more than $200 trillion or $27,000 for each person in the world. Since 2.8 billion or nearly 40 percent live on $2 per day, there is no way that the debt can ever be repaid. The bulk of debt owed by governments, banks and companies will be repaid by creating more debt. If we are happy to create money, we should be happy to create more
ViewpointsMay 29, 2016
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Hong Kong needs to work smarter, not longer
So much has been said and written about striking the proper work-life balance. And of all the people in the world, Hong Kong people must work the hardest to find the ideal balance, as we have the questionable honor of logging the longest period each week -- a staggering 50.1 hours, which does not even factor in the daily commute between our home and workplace. If included, it can be safely concluded that most Hong Kong employees, and very likely many of their employers as well, are left with les
ViewpointsMay 29, 2016
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[Justin Fox] Carmakers need a new (business) model
Toyota is investing in and planning to collaborate with Uber, the largest ride-hailing service. Volkswagen is investing $300 million in Tel Aviv-based Uber rival Gett. And that’s just Tuesday’s news. In January, General Motors put $500 million into Lyft, another Uber competitor. Earlier this month, Apple invested $1 billion in Chinese ride-hailing company Didi and Fiat Chrysler made a deal with Alphabet to develop self-driving minivans.After almost a century of making cars and selling them in mo
ViewpointsMay 29, 2016
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[Busan Motor Show] 2016 Busan Motor Show to put 46 new cars center stage
The Korean auto industry is gearing up in Busan this week as the nation’s second biggest city will host the 2016 International Busan Motor Show at BEXCO from June 2 for a 10-day run.Under the slogan “Inspiring Technology Making Waves in the Future,” the biennial motor festival in Korea will showcase about 230 vehicles from 25 domestic and foreign brands, the motor show’s organizing committee said in a press release last week.Genesis G80 (world premiere)Visitors to the auto show will have a chanc
MobilityMay 29, 2016
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[Gina Barreca] Voting for a proven leader
Here’s today’s Officially Reductive Question: Do you vote by party, policy or person?One of those three p’s usually drives citizens into a voting booth. In November, you’ll probably wear one of those “I Voted” stickers because you’re a staunch Republican or Democrat who turned up to support the party, or because you vote gun rights or women’s health issues and, therefore, choose candidates who most effectively argue for those causes, or because you think a particular candidate will be an intelli
ViewpointsMay 29, 2016
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[Herald Interview] Former New Zealand P.M. calls for inter-Korean talks
While ramping up global pressure is key to hampering Pyongyang’s nuclear development, Seoul should chart a path to restart denuclearization talks to defuse tension and move toward an ultimate reunification, former New Zealand Prime Minister Jim Bolger said Friday. “The crucial question is, what are the circumstances of starting dialogue? My observation is that it’s always sooner rather than later,” he told the Korea Herald in an interview on the sidelines of the Jeju Forum for Peace and Prosperi
Foreign AffairsMay 29, 2016
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[Busan Motor Show] GM to host premiere night for new cars
The Korean unit of General Motors will host a premiere night to draw more attention to its new car lineup for the Busan Motor Show on June 1, one day before the official media preview.The carmaker has remained low-key on which cars will take the stage at the premiere event “GM night,” but industry watchers predict GM Korea CEO James Kim will highlight three models from its Chevrolet and Cadillac brands. Cadillac’s new CT6 full-size luxury sedan (GM)For the mass market, GM is forecast to unveil t
MobilityMay 29, 2016
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‘Abe will not back down on comfort women issue’
Korean civic groups and victims of Japan’s wartime sexual slavery continue to criticize the Seoul-Tokyo “comfort women” settlement, but a Japanese historian says it is unrealistic to expect a better agreement from the ultraconservative Shinzo Abe administration.According to the scholar, the contentious deal should serve as a starting point for resolving the thorny issue in the long-term.“I thought Koreans would accept the deal on some level, considering the effort put into it,” Haruki Wada, prof
Social AffairsMay 29, 2016
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[Herald Interview] Ex-top U.N. official urges tighter sanctions against N.K.
Despite the recent passage of strengthened sanctions over North Korea’s latest nuclear and missile tests, the United Nations should further tighten its squeeze on Pyongyang’s trade and financial networks to thwart its military ambitions, a former top U.N. official said.Nobuyasu Abe, who served as under-secretary-general for disarmament affairs at the multinational body from 2003-2006, showed regret over past botched efforts to dissuade Pyongyang from building atomic bombs in return for economic
Foreign AffairsMay 29, 2016
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Seoul Metro under fire for continued accidents on subway tracks
Subway operator Seoul Metro came fire for lax safety after another worker died on Saturday from being trapped between a screen door separating the subway platform and the train on subway line No. 2. It was the third fatal accident of its kind to occur since 2013. According to Gwangjin Police Station, the 19-year-old Kim, an employee of a company that Seoul Metro had subcontracted for door maintenance, had been repairing the platform screen door at Guui Station on Saturday evening.He was working
Social AffairsMay 29, 2016
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[Newsmaker] Ban’s trip kindles presidential run rumors
U.N. Secretary-General Ban Ki-Moon’s six-day trip in South Korea would have been just a routine visit by the world’s top diplomat to his home state -- if not for the growing anticipation on his potential run in the 2017 presidential election Instead, Ban found himself at the center of national attention. Ever since the 71-year-old diplomat hinted on Wednesday at the possibility of his foray into politics, following his previous 10-year tenure, his every step has been interpreted to take on a pol
PoliticsMay 29, 2016
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[Feature] Why more Koreans are eating alone
For Jang Hee-seok, a 33-year-old Seoulite, visiting a convenience store near his office during lunch hour is an almost daily routine. He goes there to get his lunch, packed in a box. Out of some 30 choices, the popular options include rice with chicken breast, deep-fried pork cutlet or fried kimchi rice. His favorite is bulgogi stir-fried with gochujang, the Korean red pepper paste. He returns to his office, microwaves his food and eats it alone at his desk. Sometimes he also has cup noodles to
Social AffairsMay 29, 2016
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‘Huawei eyes Samsung’s LTE patents’
Samsung Electronics and Huawei are bracing for a legal battle after the Chinese tech giant sued its Korean rival for infringing its mobile patents last week. In its two lawsuits filed in China and the U.S., Huawei claimed Samsung’s Galaxy S phones had infringed 11 of its 4G network patents. The company asked for compensation but did not request a sales ban of the affected handsets. AP-YonhapSamsung fought back immediately, saying it would counter-sue Huawei. “What Huawei really wants is not cas
TechnologyMay 29, 2016
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Seoul Jazz Fest branches out, drawing mixed response
The Seoul Jazz Festival, which ran from Friday to Sunday at the Olympic Park in southeastern Seoul, boasted a particularly eclectic lineup this year, branching out from jazz into other crowd-drawing music such as indie rock and pop. While the festival has always offered a mix of genres, this year saw a greater number of popular non-jazz acts in the 40 music groups showcased, including English electronic-funk DJ Mark Ronson and Korean R&B-hip-hop singer-songwriter Dean. The new composition of t
PerformanceMay 29, 2016
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S. Korea's 19th National Assembly ends its term today
The 19th National Assembly of Korea finished its four-year term Sunday, pulling the curtain down on what critics say is one of the worst-performing parliaments of all time. It got off to a rough start due to a brewing controversy over surveillance by the state on ordinary people and a rigged election process involving a progressive minor political party. In 2014, the parliament didn't pass a single piece of legislation for nearly five months amid a political deadlock over a special law adv
PoliticsMay 29, 2016
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Woori Bank to take over Philippine bank
Woori Bank, South Korea's second-biggest bank by assets, said Sunday it has won final approval to take over a Philippine-based bank, in line with its efforts to tap deeper into overseas markets. The South Korean bank said it has won a nod from the Central Bank of the Philippines to purchase a 51 percent stake in the Wealth Development Bank. Woori Bank said it plans to complete the procedures in the first half of 2016. Established in 2002, the Wealth Development Bank boasts US$170 million in
May 29, 2016
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Top nine shipyards sit on over 100 trillion won of debt
The combined debt owed by Korea’s top nine shipbuilders exceeded 100 trillion won ($84.7 billion) in 2015, data showed Sunday, adding to concerns about the industry. The companies, many of which face government-led restructuring programs, owed lenders a combined 102.6 trillion won, up 15 percent from 89.1 trillion won in 2012, according to data compiled by market researcher Chaebul.com. “The shipbuilding industry’s crisis has been deepened as the government, the industry and the creditors have m
May 29, 2016
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Korean Air plane taxied 700 meters after engine caught fire: investigation
An investigation by the Japanese Transport Safety Board into a Korean Air Lines jetliner whose engine caught on fire at Haneda Airport in Tokyo said that the plane coasted 700 meters after the fire broke out, according to Kyodo News.The scan of the engine revealed that dozens of turbine blades towards the back of the plane‘s left engine had been shattered. Pieces of the blade and engine cover were found on the runway around the point the fire broke out, with track marks extending 700 meters past
IndustryMay 29, 2016