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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Thousands rally in Seoul to call for Yoon resignation
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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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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Busan film fest determined to keep status as Asian cinema hub
While the Busan Metropolitan Government refuses to relinquish its influence over the Busan International Film Festival, the event’s organizers are more adamant than ever to protect its integrity and role in Asian cinema. “All we want to do is preserve BIFF and what it stands for,” the festival’s public relations manager Kim Jung-yun told The Korea Herald on Thursday. “BIFF has come to play a huge role in Asian cinema. It acts as the stepping stone for Asian directors, a route to earn recognition
FilmApril 21, 2016
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Operating profit of POSCO jumps 94% in Q1
POSCO Group posted an operating profit of 659.8 billion won ($582 million) in the first quarter, a 93.7 percent increase over the same period last year, the nation’s top steelmaker said Thursday.The combined net profit also skyrocketed 221.9 percent to 352.5 billion won in the same period, thanks to performance improvements in steel-making and trading businesses. Revenue of POSCO and its key affiliates including POSCO Daewoo, however, fell 10.3 percent to 12.46 trillion won in the January-March
IndustryApril 21, 2016
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Sex slavery victims offer funds for quake-hit Japan
Two South Korean victims of Japan’s sexual slavery during World War II on Thursday offered humanitarian assistance totaling 1.3 million won ($1,150) to quake-hit regions in Japan. Kim Bok-dong, 90, and Kil Won-ok, 87, offered the money to aid Japan’s rescue and restoration efforts for the disaster-stricken Kumamoto prefecture.The first quake on April 14 and the larger magnitude-7.3 quake 27 hours later left 48 people dead and more than 1,100 injured, with aftershocks continuing to strike the are
Social AffairsApril 21, 2016
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Feud-ridden Saenuri to elect floor leader in May
The ruling conservative Saenuri Party, reeling after last week’s parliamentary election debacle, has decided to elect new leadership next month through an official primary, officials said Thursday.Rep. Won Yoo-chul, whose interim leadership has triggered backlash within the party, is to serve as acting chairman until then.“The party’s floor leadership and policy committee have tentatively agreed to hold a primary on May 9 to elect a new floor leader,” said a party official.The elected top offici
PoliticsApril 21, 2016
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[Newsmaker] Reckitt Benckiser apologizes, offers funds
Amid the prosecution’s widening probe into Oxy Reckitt Benckiser Korea and other companies related to their toxic humidifier disinfectants, the British firm apologized on Thursday to victims and unveiled a plan to offer an additional 5 billion won ($4.4 million) in humanitarian assistance. In a letter released Thursday afternoon, the company addressed its “social responsibility” in deaths and diseases caused by its humidifier sterilizers, saying it would cooperate with investigators to solve the
Social AffairsApril 21, 2016
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Allies seek clues to N.K. nuke capacity
Officials and observers in South Korea and other countries are bracing for North Korea’s next widely expected nuclear test before early May, but questions remain on the credibility of the reclusive country’s claims of its advanced nuclear strike capacity.Pyongyang’s leader Kim Jong-un has publicly claimed his engineers have successfully miniaturized the nuclear warheads to be mounted onto ballistic missiles, along with acquiring reentry technology for the intercontinental ballistic missiles. Yon
North KoreaApril 21, 2016
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Korea to celebrate Earth Day
The South Korean government and municipalities reaffirmed their efforts to contribute to global initiatives to cut carbon use as the country joins in the 46th Earth Day celebrations Friday.To raise awareness on the urgency to save the Earth, the government and municipalities have been holding events throughout the week. Designating April 20-26 as Climate Change Week, the Environment Ministry has annually promoted environment-related events ranging from campaigns for using public transportation t
Social AffairsApril 21, 2016
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Korea’s pet culture evolves with more adoption, tailored care
Daniel Kim, who lives in Incheon, is a father of two -- both adopted and with their ages unknown. One of them is a shitzu, presumably 6 years old, that he found on the beach while traveling in Jebudo Island four years ago. Another is a black poodle, found abandoned near his apartment before being adopted by him last year.“My family started to have more conversations and bonding time thanks to these two that we vowed to love and take good care of,” Kim said. As the shitzu -- named Casso after the
Social AffairsApril 21, 2016
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Momentum builds for corporate reform
The two leading opposition parties on Thursday green-lighted the talks for corporate restructuring to overhaul the outdated industries, an agenda pushed by the ruling camp but shunned by the liberals for fear of massive job losses.The government and ruling Saenuri Party welcomed the gesture which seemed to be a conservative switch for the opposition camp, but also stressed that the passage of pending economic revitalization and labor reform bills should be prioritized.“We will take detailed, pra
PoliticsApril 21, 2016
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KOSPI rises to yearly high on revived risk appetite
Korean shares closed higher Thursday as foreigners and institutional investors increased their net buying. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.81 percent, or 16.27 points, to 2,022.10, the highest closing level this year. Trade volume stood at a moderate 387.84 million shares worth 4.71 trillion won ($4.2 billion), with winners outnumbering losers 487 to 305.Foreign and institutional investors bought a combined 303.79
April 21, 2016
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Park vows to boost economic momentum via R&D
President Park Geun-hye has pledged that the Korean government would make the utmost efforts to keep the nation’s economy strong by beefing up research and development in the information and communications technology and biotechnology sectors.“The government’s creative economy based on development of science technology and ICT is the one-and-only economic growth engine as well as a stepping stone for the nation’s economy to take the next big leap forward,” President Park said in a speech at the
TechnologyApril 21, 2016
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Foreign automakers stingy in charity, generous in dividends
Foreign automakers in Korea are very thrifty when it comes to local charity donations although they are generous in paying hefty dividends to their major shareholders, market data showed Thursday. The combined dividends of the major foreign automakers was around 83.6 billion won ($73 million) last year while their domestic donations stood at 4.2 billion won, according to their audited financial reports. Among the foreign automakers, Mercedes-Benz Korea paid dividends of 58.5 billion won, Audi Vo
MobilityApril 21, 2016
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Samsung Asset Management launches new retirement funds
Korea’s Samsung Asset Management launched a new type of retirement funds called target-date funds, jointly with U.S. asset manager Capital Group on Thursday, seeing opportunities in Korea’s aging society. Target-date funds, which are being introduced in the Korean market for the first time, provide a mix of stocks and bonds based on the investor’s age and planned retirement date. Fund managers increase the proportion of bonds and reduce that of stocks as the investor ages. Shaw Wagener, chairman
April 21, 2016
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[Photo News] LIG supports disabled soccer team
LIG SUPPORTS DISABLED SOCCER TEAM -- LIG Group and its affiliates donated 70 million won ($62,000) to the Korean Football Association For the Disabled to mark Korea‘s Disability Awareness Day on Wednesday. Group affiliate Huseco CEO Kim Gye-hong (right) poses with KFAD president Nam Young-woo during a ceremony to deliver the funds at the group‘s headquarters in Seoul. LIG has financially supported the soccer association since its founding in 2007. (LIG)
IndustryApril 21, 2016
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POSCO E&C collaborates with Italian designer
POSCO Engineering & Construction teamed up with Italian designer and architect Alessandro Mendini for the design of the exterior of its The Sharp apartments, according to company officials on Thursday. POSCO E&C previously collaborated with Mendini in 2013 for the design of its apartment entrance and signboards of apartment community facilities. The collaboration took place again this year by including square patterns of different colors to enhance the visual exterior of the apartment buildings.
IndustryApril 21, 2016
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[Photo News] LG paper laptop video crosses 3 ml views
LIGHT AS PAPER -- LG Electronics’ YouTube video featuring a paper replica of the firm’s laptop Gram 15, a 15.6-inch (40-centimeter) laptop weighing just 980 grams, has crossed 3.5 million views. The paper art piece is made only of paper based on the actual design of the laptop. (LGE)
TechnologyApril 21, 2016
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Luxury market on revolutionary path to openness, connectivity
Luxury has long been a subject of admiration and exclusivity. Fashion products created with expert craftsmanship and inspired by high-end culture, however, are likely to take a different path in the future, according to global fashion leaders gathered in Seoul for the Conde Nast International Luxury Conference. In the future, the concept of luxury may become more democratic and open, as technological advancements transform how people consume information and spend money, they said. “The velvet
IndustryApril 21, 2016
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Busan Motor Show woos Tesla
Despite the absence in the exhibition hall, the 2016 Busan International Motor Show continues to contact Tesla, the U.S.-based luxury electric vehicle-maker, with intentions of inviting a high-profile official from the automaker in the global spotlight with the recent launch of Model 3, its first mass-market EV model. “Tesla is one of three global automakers that we are striving to invite a speaker for a gala dinner to be held on June 1, one day before the opening,” said Yoo Dong-hyun from BEXCO
MobilityApril 21, 2016
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Korea overly stressed society: Deepak Chopra
Globally recognized author, motivational speaker and leading figure of the New Age movement, Deepak Chopra, has returned to Seoul after two years to share some of his spiritual insights into Korean society and his thoughts on the country’s overly stressed and work-centric society. Chopra presented his latest motivational presentation on the future of well-being, “Super Soul Relay,” to the local audience Wednesday. Doctor, author and alternative medicine motivational speaker Deepak Chopra speaks
TechnologyApril 21, 2016
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Time is ripe for structural reforms: finance minister
Strategy and Finance Minister Yoo Il-ho said that Korea cannot afford to hold off structural reforms, stressing that this should not just slip by the public’s attention without merit.In an email to the employees of the Finance Ministry on Thursday -- the 100th day since his appointment as the country’s top fiscal policymaker, Yoo said that reforms in the public, labor, education and finance sectors are necessary for a country facing limited growth. Strategy and Finance Minister Yoo Il-ho (Yonhap
April 21, 2016