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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Thousands rally in Seoul to call for Yoon resignation
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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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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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China property boost to GDP risks fading after debt-fueled rise
China’s expansion may face stronger headwinds this year should the debt-fueled boost from real estate, a key driver of recent economic growth, prove unsustainable.The economy grew 1.1 percent in the first quarter from the prior quarter, the slowest quarter-to-quarter expansion in data since 2011, the National Bureau of Statistics said. Housing demand helped boost growth, with output of real-estate services adding 9.1 percent from a year earlier while construction activities rose 7.8 percent, NBS
World BusinessApril 18, 2016
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Oil meeting collapses without freeze
DOHA, Qatar (AP) -- A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia.Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in recent days, buoyed by the bullish talks surrounding the Doha summit.But instead of a quick approval of a production freeze, the meeting of 18 oil-producing nations sa
World BusinessApril 18, 2016
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EverSpin receives awards at domestic and overseas Fintech competitions for its mobile application security platform
On April 14, the mobile application security solution startup EverSpin (CEO: Steven Ha) announced that its technology had received excellent evaluations at major Fintech competitions in Korea and abroad. At an international Fintech contest held in February by Japan’s FIBC (Financial Innovation Business Conference), EverSpin received a Judge’s Special Award. The company also passed the preliminary round of a Fintech competition to be held at the ICT Spring Europe 2016 in May in Luxembourg and won
IndustryApril 18, 2016
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Korea faces global economic slowdown, President Park says
President Park Geun-hye warned Monday that a global slowdown and further provocations from North Korea could undermine signs of economic improvement.Speaking to her aides for the first time since the parliamentary election last week, Park said that South Korea is still facing economic difficulties even though there has been signals that the economy was improving.In the wake of her ruling party's defeat in the election, Park said that she would work closely with lawmakers to push through structur
April 18, 2016
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Household debt grows at fast pace in March
Household loans extended by local banks rose at a fast clip in March due to a large increase in mortgage loans, central bank data showed Monday.Outstanding household loans extended by lenders here came to 649 trillion won ($564.2 billion) as of end-March, up 4.9 trillion won from the previous month, according to the data from the Bank of Korea.The on-month gain marked a significant acceleration from the 2.9 trillion won increase the previous month or a 2.1 trillion won rise in January."Home-back
April 18, 2016
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KOSPI stocks yield record dividends of W19.1tr in 2015
Korea’s main stock market, the KOSPI, had its best ever dividend year in 2015, with a total shareholder bonus reaching a record high, Korea Exchange said Monday. According to the bourse operator, nearly 70 percent, or 492, of 719 listed firms with their fiscal year ending in December will pay, or have already paid, a combined 19.1 trillion won ($16.6 billion) in cash dividends to shareholders by the end of April.The amount represents an increase of 27 percent from 2014, when 66 percent of the KO
April 18, 2016
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Gong Cha Korea seeks to acquire global headquarters
Taiwanese milk tea franchise Gong Cha Korea confirmed Monday that it is in the process of potentially acquiring its global headquarters Royal Tea Taiwan Co.“Gong Cha Korea is currently in talks over potentially acquiring Royal Tea Taiwan Co.,” Gong Cha Korea spokesperson Hyun Ye-seul told The Korea Herald.“However, the details of the acquisition have yet to be determined, as the negotiations are still underway and still open to changes,” she said.If the deal goes through, Gong Cha Korea would be
IndustryApril 18, 2016
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Suicide or murder? Man found dead in car
A man was found dead in a parked car with stab wounds on his chest on Sunday at around 7 p.m. According to the police, the man also had self-inflicted wounds on his neck and left wrist. (123RF)“The car had been locked from inside and there seems to be no signs of struggle, but we are investigating with all possibilities open as there is no suicide note.”The man had been reported as missing last Wednesday at Gyeonggi Province’s Gwangju Police station.The Rexton vehicle, owned by the deceased, was
Social AffairsApril 18, 2016
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Growth target above 3% beyond reach
Finance Minister Yoo Il-ho said last week it would be possible to reach the government-set growth target of 3.1 percent this year.“The Korean economy will be able to post 3 percent level growth this year,” said Yoo, trumpeting the government’s efforts to boost investment, exports and structural reforms.But his forecast seems alienated from predictions by most economic institutes at home and abroad, which have revised down their growth outlook for Asia’s fourth-largest economy struggling with dec
April 18, 2016
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North Korea might conduct underground nuke test: defense ministry
North Korea may conduct an underground nuclear warhead test when it detonates another atomic device, the defense ministry's spokesman said Monday.The remarks by spokesman Moon Sang-gyun were in response to a media inquiry on whether North Korea's fifth nuclear test would involve a nuclear warhead.A nuclear warhead test could involve either the underground detonation of a missile-capable nuclear device or a warhead detonation without the use of nuclear materials, Moon said in a regular press brie
North KoreaApril 18, 2016
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Korea directs overseas missions to check earthquake
South Korea ordered its overseas missions in the quake-prone basin of the Pacific Ocean to check its preparedness against natural disasters after Japan and Ecuador were hit by massive earthquakes, Seoul officials said Monday.The government has directed its embassies and consulates in the countries along the so-called circum-Pacific belt to check the number of Korean residents and tourists in the areas under their responsibility, and see if their disaster response systems are functioning.The 40,0
Foreign AffairsApril 18, 2016
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KBO's Hanwha Eagles in complete disarray
The Hanwha Eagles have gone back to being their old selves in the Korea Baseball Organization, and it's not a good thing, if you know the recent history of this club.The Eagles have lost five straight games to drop to 2-11 in the young season, easily the worst record in the 10-team league. They lost the first two games of the season in extra innings and had a four-game slide earlier this month before dropping five in a row over the past week.To their faithful, the Eagles' woes early this season
BaseballApril 18, 2016
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Park: South Korea detects signs of preparations for nuclear test in North Korea
President Park Geun-hye said Monday that South Korea has detected signs of North Korea preparing for a fifth nuclear test.We are in a situation, in which we don't know whether North Korea could stage any provocation to avoid isolation and consolidate its internal unity," Park said in a regular meeting with her top aides at Cheong Wa Dae, South Korea's presidential office.She also said signs of "preparations for a fifth nuclear test have been detected."Park's comments came more than a month after
North KoreaApril 18, 2016
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'Realistic' hockey goalie says medal not necessary for Korean success at PyeongChang 2018
We often measure success at the Olympics by the color of medals. As the men's hockey team goaltender Matt Dalton sees it, however, South Korea won't necessarily have to reach the podium on home ice in 2018 to call its Olympic hockey debut a success.Dalton, born in Canada, obtained his South Korean passport last month after getting fast-tracked to the citizenship. He's among a handful of North American-natives who have been naturalized as South Koreans, and they will represent their adopted count
Olympic GamesApril 18, 2016
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Hyundai Merchant Marine shares test new lows on bankruptcy worries
Shares of Hyundai Merchant Marine fell to a 52-week low Monday on renewed worries that the debt-ridden shipping line may be heading for court receivership. The share price closed at 1,895 won ($1.65), 8.01 percent lower than the previous session’s close, against the benchmark KOSPI’s 0.28 percent decline. The stock’s slide came after Finance Minister Yoo Il-ho publicly expressed his concern over the country’s No. 2 shipping line struggling under mounting debt as marine trade continues to shrink
April 18, 2016
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KIC names new COO
Korea’s sovereign wealth fund Korea Investment Corporation said Monday it has named Kim Sang-joon, head of London office, as new chief operating officer.Kim joined KIC in 2009 after working at Samsung Life Insurance’s asset management division for more than 20 years. KIC COO Kim Sang-joon (KIC)Kim’s appointment came after KIC CEO Eun Sung-soo, who took office in January, vowed to enhance transparency of the $91.8 billion national wealth fund’s management under a KIC reform plan.The plan includes
April 18, 2016
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Ecuador digs for survivors after quake kills 246
Rescuers in Ecuador burrowed through rubble where towns once stood Sunday in an increasingly desperate attempt to find survivors of an earthquake that killed at least 246 people and allowed scores of inmates to escape prison.About 2,500 people were injured when the strong 7.8-magnitude quake hit Saturday evening, bringing structures crashing down, Vice President Jorge Glas said.President Rafael Correa, who cut short a trip to the Vatican, landed back in the country close to the disaster zone lat
World NewsApril 18, 2016
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Korean firms keeping tabs on fallout from Japan quakes
Korean companies are closely monitoring the impact of the recent earthquakes in Japan on the local and global manufacturing sectors as they have halted operations of major Japanese plants, industry sources said Monday.A magnitude-6.5 earthquake hit Japan's Kumamoto region Thursday, followed by a magnitude-7.0 tremor just 28 hours later. The temblors killed at least 42 people and injured some 1,500 people.The earthquakes have also disrupted supply chains of major manufacturing companies in the wo
IndustryApril 18, 2016
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Hyundai Heavy suffers massive loss from delay in ship construction
Hyundai Heavy Industries, a major Korean shipyard, suffered some 600 billion won ($523 million) in losses last year stemming from a delay in the construction of offshore facilities and ships, and other costs, industry sources said Monday.According to the sources, the shipyard logged a loss of 608 billion won last year coming from the failures to meet construction deadlines, work suspensions and other problems. The amount is equivalent to 2.5 percent of its total sales in 2015.Hit by an industryw
IndustryApril 18, 2016
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Strict lending rules force households to turn to savings banks
Korean households took more loans from savings banks last year compared with the previous year as banks tightened their lending rules to stay financially healthy, the central bank said Monday.As of the end of 2015, outstanding household loans extended by savings banks stood at 13.69 trillion won ($11.9 billion), accounting for 1.2 percent of overall household loans worth 1,141.83 trillion won, according to the data compiled by the Bank of Korea. Apartment complex in Seoul (Yonhap)The ratio of 1.
April 18, 2016