Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Thousands rally in Seoul to call for Yoon resignation
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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Hyundai denies rumor on sale of credit card unit
Hyundai Motor Group officially dismissed rumors Tuesday that it is seeking to sell its credit card affiliate. In a conference call for the first quarter performance of Hyundai Motor, Choi Byung-chul, chief financial official of the automaker, made it clear that there is no plan to sell any stake in Hyundai Card. Hyundai Motor currently holds a 37 percent stake in the group’s credit card business unit. The rumors of a sale gained ground as the group was reluctant to buy out General Electric Capit
MobilityApril 27, 2016
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Epik High to return to Japan
Hip-hop trio Epik High is due to release the Japanese version of “Don’t Hate Me” on April 27, ahead of its planned Japan tour, the group’s agency YG Entertainment announced Tuesday. “Don’t Hate Me,” a pop punk tune with the catchy refrain “Everybody hates me, but you love me and I love you,” was released in 2012. The Japanese version of the song is a collaboration with Gashima, a Japanese rapper and songwriter from White Jam. Korean hip-hop trio Epik High (YG Entertainment) The revised version o
PerformanceApril 27, 2016
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[Newsmaker] KDB burdened by corporate debt restructuring
State-owned Korea Development Bank was founded in 1954 with a specific goal and role -- to back the government’s industrial policies by providing necessary capital to help companies innovate, grow and most importantly, create jobs.But 62 years later, with a plethora of companies failing to meet their debt obligations and facing inevitable restructuring through asset sales and job cuts, the policy bank has now turned into a “fireman” who will have to put out the fire caused by corporate mismanage
April 27, 2016
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N. Korean diplomat all but deported from Vietnam over U.N. sanctions
Vietnam has virtually deported a North Korean diplomat included on a list of individuals blacklisted by the U.N. Security Council in a March sanctions resolution, political sources said Wednesday.The measure marked Hanoi's first implementation of the council's new sanctions in response to the North's fourth nuclear test in January and its subsequent rocket launch using ballistic missile technology.Choi Song-il, vice chief of the Hanoi branch of the North's Tanchon Commercial Bank and one of the
North KoreaApril 27, 2016
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Nokia speeds entry into digital health hardware
About a decade after Apple Inc.’s iPhone first hit the market, Nokia Oyj is seeking to relaunch its consumer business with health bands and connected scales by acquiring French startup Withings SAS. It’s out to revive a brand that was once one of Europe’s most valuable, but has slipped further as Nokia sold its phone business to Microsoft Corp. two years ago to focus on telecommunications networks.“The longer you’re out of a market, the more your brand value declines,” Ramzi Haidamus, who heads
TechnologyApril 27, 2016
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Korea eyes another strong Olympic performance at Rio 2016
South Korea marked the 100-day countdown to the 2016 Rio de Janeiro Summer Olympics Wednesday with a pledge to put on another strong performance in the medal race.Sports officials and national team athletes who gathered at the National Training Center in northern Seoul for an open house event all expressed their desire to accomplish a common goal: finishing in the top 10 in medals for the fourth consecutive Olympics with at least 10 gold medals."I am certain that all the hard work put in by our
Olympic GamesApril 27, 2016
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10 futuristic services in era of low growth
A future preparation committee affiliated with the Ministry of Science, ICT and Future Planning on Wednesday announced 10 promising services that would help the Korean economy to grow even in an era of low growth. The services include: customized health care; cashless financial transactions; unmanned transportation; crisis response using the Internet of Things; life extension; electricity charging; eco-friendly energy platforms; artificial intelligence; energy supply for wearable devices; and le
TechnologyApril 27, 2016
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Park Tae-hwan wins 400m freestyle with 4th best time of season
Former Olympic swimming champion Park Tae-hwan collected his third gold medal in a local competition Wednesday with the fourth best time of the season in the men's 400-meter freestyle as he continues to rally in his first competitive swimming in 18 months. At the 88th Dong-A Swimming Competition in Gwangju, some 330 kilometers south of Seoul, Park finished first in the 400m free with a time of 3 minutes, 44.26 seconds. It was his third gold medal in the competition at the Nambu University Intern
More SportsApril 27, 2016
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Korea's consumer sentiment improves in April
Korea's consumer sentiment slightly improved this month from a month earlier with more people also expecting better conditions for their livelihood down the road, central bank data showed Wednesday.The composite consumer sentiment index came to 101 for April, moving up from 100 the previous month and reaching the highest mark since the start of the year, according to data from the Bank of Korea. Consumers at a department store in Seoul (Yonhap)A reading above 100 means optimists outnumber pessim
April 27, 2016
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BOK chief says low interest rate only offers limited impact
The head of Korea's central bank on Wednesday expressed his apparent opposition to lowering the key interest rate too much, saying a low or negative rate may have only a limited, if not adverse, economic impact."We are beginning to see the adverse effects of low interest rates employed since the (2008) financial crisis, such as a drop in the profitability of financial institutes and a rise in private debts," Bank of Korea (BOK) Gov. Lee Ju-yeol said at an international financial forum in Seoul.
April 27, 2016
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Korea seeks to boost employment of young people
The government on Wednesday unveiled a set of comprehensive measures to boost employment of young people and women, vowing to help about 40,000 jobseekers land jobs by matching them up with employers and doling out direct payments in exchange for new hirings.The measures came after the unemployment rate for people under 30 reached an all-time high of 9.2 percent last year, with the overall jobless rate hitting a five-year high of 3.6 percent. Job fair in Seoul (Yonhap)Joblessness among the young
April 27, 2016
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Korean shipbuilders in trouble, but still in global top ranks
Korean shipyards may be in big trouble, but they still lead the global market in terms of order backlog, industry data showed Wednesday, possibly suggesting their guaranteed survival at least for a few years to come.According to the data from global research firm Clarkson Research Services, the country's three largest shipbuilders - Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, and Samsung Heavy Industries - are also ranked as the world's three largest in terms of order bac
IndustryApril 27, 2016
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Moral hazard issue flares up again amid corporate restructuring
With Korea on the verge of a massive corporate restructuring, controversy has resurfaced over entrepreneurial moral hazards following the sale of shares in a financially troubled shipper by the family of its former chairwoman, watchers said Wednesday.According to a recent regulatory filing, Choi Eun-yeong, former chairwoman of Hanjin Shipping, and her two daughters sold their entire 0.39 percent stake, or 669,248 shares, in Korea's biggest container carrier between April 6-20.
IndustryApril 27, 2016
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Korea's seaport cargo edges up in Q1
Cargo processed at Korean seaports edged up in the first quarter from a year earlier as a rise in domestic shipments made up for a drop in exports and imports, government data showed Wednesday.The country's seaports handled a combined 366.1 million tons of freight during the January-March period, up 1.5 percent from 360.7 million tons tallied a year earlier, according to the data compiled by the Ministry of Oceans and Fisheries.Export-import cargo, which accounted for 82.6 percent of the total,
IndustryApril 27, 2016
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[Photo News] Asiana donates water to China
WATER FOR CHINA -- Ahn Byeong-seog (third from right), president of Asiana Airlines’ China Regional Headquarters, Ren Jinyang (fourth from right), director of the Women’s Federation of Shanxi province, and other participants pose in Nangaohongkou, Shanxi province, on Tuesday. Asiana Airlines donated five water cellars, pipelines, and drinking water fountains for the arid village through the Chinese Water Cellar for Mothers Project. (Asiana Airlines)
IndustryApril 27, 2016
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Analysis of debris shows N. Korea‘s Feb. rocket launch was not for satellite: experts
An analysis of debris from the long-range rocket launched by North Korea in early February showed that it lacked the crucial mechanism necessary to protect a satellite through the course of its bumpy flight, military experts said Wednesday. The signs point to the February launch not being used to send a satellite into space as claimed by the North.On Feb. 7, North Korea launched the long-range missile in defiance of United Nations Security Council resolutions banning the country from nuclear and
North KoreaApril 27, 2016
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Youth, female employment needs boosting
Since its launch in 2013, President Park Geun-hye’s administration has put top priority on creating more jobs to achieve a goal of jacking up the country’s employment rate to 70 percent during her five-year term. The budget earmarked to finance various job programs has risen from 10.8 trillion won ($9.4 billion) in 2013 to 15.8 trillion won this year.Such an endeavor has resulted in a steady increase in the number of employees and the employment rate over the past years. As policymakers admit, h
April 27, 2016
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ING Life Korea sale process begins
The sale process for ING Life Korea has commenced, according to industry sources Wednesday.Asian buyout firm MBK Partners plans to sell its stake in the South Korea’s fifth-largest insurance company by assets in a deal estimated at $3 billion. MBK, which bought ING Life Korea in 2013 from ING Group at $1.7 billion, kicked off the sale process by sending out financial information to potential bidders. Morgan Stanley is the main manager of the deal. More than a dozen potential bidders including Ko
April 27, 2016
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Korean Air resumes Seoul-Pohang flights
Korean Air has received the green light to resume its route between Gimpo Airport in Seoul and Pohang Airport, the Transport Ministry said Wednesday.The route will run twice a day in the morning and afternoon starting May 3, pending the results of additional safety checks.Pohang Airport has been temporarily closed since July 2014 for construction to improve safety on its runways. It is scheduled to reopen in May, after 22 months.Tickets for the route will be priced from 69,000 won to 89,000 won,
IndustryApril 27, 2016
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Irish writer O’Connor and the strange music of unhappy families
TOULOUSE, France (AFP) - When the Irish novelist Joseph O’Connor reads his books aloud he almost sings them. Like his sister, the singer Sinead O’Connor, he is forever searching for “musicality.” In the famously tumultuous O’Connor household, art was a family affair. Joseph, the eldest, began writing at 14 and published his first book at 27. His youngest sister Sinead was a pop sensation at 21, while his other sister Eimear is a well-known painter and art historian. But there was price to pay.
BooksApril 27, 2016