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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Chinese people cancel planned travels to Japan's quake-hit areas
A growing number of Chinese people are canceling their planned travels to Japan's earthquake-hit areas, as China's tour industry and the Hong Kong government have issued a travel warning for Kumamoto Prefecture, which was hit by deadly earthquakes last week, China's media reported Sunday.A 7.3-magnitude temblor hit Kumamoto Prefecture on the southern island of Kyushu at around 1:25 a.m. Saturday, less than two days after a 6.5-magnitude quake struck the same region. The quakes killed 34 people a
InternationalApril 17, 2016
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Reagan refused to support Korean constitution in 1985: dossier
Then U.S. President Ronald Reagan refused to express public support for South Korea's constitution in 1985 due to concerns over public backlash at home, declassified diplomatic documents showed Sunday.South Korea's then president, Chun Doo-hwan, wanted Reagan to back the country's constitution as public calls grew here for an amendment that would allow direct presidential elections to take place, according to the documents released by Seoul's Foreign Ministry.Chun, a former army general, took po
Social AffairsApril 17, 2016
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Korean rapid response team arrives in quake-hit Japan
A South Korean rapid response team arrived in Japan on Sunday to help any possible South Korean victims in the wake of deadly earthquakes that struck Japan's Kumamoto Prefecture last week.After arriving in Japan, the four-member team will look into whether any South Koreans have been affected by the quakes although no South Korean casualties have so far been reported. If any damage is found, the team will provide assistance to South Koreans who need help, according to the foreign ministry in cha
Social AffairsApril 17, 2016
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Seoul officials say busy movements at N. Korea's nuke site indicate imminent detonation
South Korea has recently detected a sharp increase in vehicle and human activities at North Korea's Punggye-ri nuclear test site and concluded the country is likely to carry out an additional nuclear test before early May, officials said Sunday."Compared to last month, the frequency of vehicle, workforce and equipment movements increased two- to threefold recently" at the nuclear test site in the country's northeast, multiple government sources said."Related officials concluded that it is a conv
North KoreaApril 17, 2016
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[News analysis] Will Samsung merge Daewoo Shipbuilding?
Speculation grows over a possible merger between the country’s two major shipbuilders -- Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering -- as the government is pushing for restructuring of the faltering shipbuilding industry, amid concerns over falling shipbuilding orders.The sense of crisis over idling shipyards is on the rise this year as the number of shipbuilding orders won by the top three shipbuilders in the first three months of this year hit a record low of nine
IndustryApril 17, 2016
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CJ Foodville to sell wedding business unit to Unison Capital
CJ Foodville, a food services company under South Korean conglomerate CJ Group, is selling off its premium wedding and banquet business unit to Japan-based private equity fund Unison Capital. A CJ Foodville official on Friday said that the firm is “in the process of selling off Apelgamo, CJ’s premium wedding hall and banquet services brand in Seoul, to Unison Capital.” The firm will soon spin off the division for the sale. (Apelgamo)The official selling price of Apelgamo has yet to be disclosed,
IndustryApril 17, 2016
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SKT signs export deal for smartphone projector
SK Telecom, South Korea’s leading wireless firm, said Sunday that it has struck a deal to export its pico projector, worth 300 million yen, to Japan.The telecom firm said that it would supply its projector, UO Smart Beam Laser, to Taisei Express of Japan for one year starting from this month. Kim Sung-han(right), head of SKT’s device planning division poses with Taisei Express CEO Hwang Kyong-ho after signing a supply deal in Hong Kong on Saturday. (SKT)The two partners reached the deal at the H
TechnologyApril 17, 2016
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Trade dependence declines to 8-year low
Korea’s dependence on overseas trade fell to an eight-year low last year as export suffers setback, data showed Sunday. According to data by the Bank of Korea, the nation’s trade dependence ratio or the proportion of trade to gross national income plunged to a record 88.1 percent in 2015, down 10.5 percent points from a year earlier. It is the lowest reading since the gauge stood at 81.6 percent in 2007. The ratio had stayed at a level as high as around 90-110 percent between 2008 and 2014 as th
April 17, 2016
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Hana Financial joins tech consortium
Hana Financial Group said Sunday that it has joined notable financial companies in a consortium to apply and standarize innovative financial technologies.The “R3 CEV” group consists of 43 financial conglomerates, including Citigroup, Bank of America, JP Morgan Chase, Goldman Sachs and UBS. Hana Financial Group (Yonhap)Hana Financial will be participating in this group to apply emerging blockchain technology into services such as global transactions and security protection. Blockchain enables sto
April 17, 2016
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7-Eleven to launch new Gong Cha drinks this month
Korea Seven, the local operator of major convenience store chain 7-Eleven, on Sunday said it has signed a deal with milk tea chain Gong Cha Korea to launch two new drinks under the Gong Cha brand at 7-Eleven stores nationwide.Under the agreement, the two firms will jointly develop a range of ready-to-drink Gong Cha products to be exclusively sold at 7-Eleven outlets in Korea. The first two products will be introduced by the end of this month, with more to come in the future, according to Korea S
IndustryApril 17, 2016
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Korea to push for longer forex trading hours
Korea plans to extend its foreign exchange trading session by 30 minutes in line with its push for longer stock market trading hours, according to the nation’s chief financial policymaker. Currently, the local currency exchange market is open for six hours between 9 a.m. and 3 p.m. The government now seeks to extend the market hours to 3:30 p.m. “The Financial Services Commission is pushing for the extension of stock market hours, and (we) will push for that of foreign exchange trading together,
April 17, 2016
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Korea’s tax benefits for families with children low among OECD countries
Korea’s average tax burden for wage earners with and without children differ by roughly 2.3 percentage points, the fifth lowest among the Organization for Economic Cooperation and Development countries, recent data showed Sunday. According to the OECD’s Taxing Wages 2016 report, Korea’s “tax wedge” -- the proportion of taxes in an individual’s wage income -- for households with one earner and two children stands at 19.6 percent, compared to 21.9 percent for working single-person households. The
IndustryApril 17, 2016
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Chipmakers betting big on solid state drive storage system
Competition in the global solid-state drive market is heating up as more players are rolling out the storage system built on technology that stacks cells vertically.An SSD is lighter and more compact than a conventional hard disk drive. It also boasts shorter booting time and faster reading and writing speeds than an HDD. Intel’s solid-state drive product (Intel)Intel recently rolled out a new SSD lineup based on 3-D NAND flash memory in Seoul, home turf of Samsung Electronics, the largest SSD
TechnologyApril 17, 2016
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[Photo News] Starbucks continues commitment to social contribution
STARBUCKS SOCIAL CONTRIBUTION -- A barista from Starbucks Coffee Korea (left) offers career consulting and training to students from Songgok Tourism High School in Seoul on Friday as part of a career development program led by Starbucks in partnership with Junior Achievement, a U.S.-based nonprofit youth organization. Starbucks plans to hold similar programs in high schools within and outside of Seoul until November as part of joint social contribution efforts. (Starbucks Coffee Korea)
IndustryApril 17, 2016
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Carmakers resurrect old cars
Carmakers that do business in Korea are pushing customer programs related to classic cars in a bid to increase customer satisfaction and boost car sales. German luxury carmaker Mercedes-Benz is leading the trend. It has launched a restoration program for old cars under the slogan “Could after sales service also evoke memories?” as part of its customer service efforts. During the 2016 Service Experience Day event, held last Friday at its new service center in Yongin, Gyeonggi Province, the compan
BusinessApril 17, 2016
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Beyonce unveils ‘Lemonade’ amid album speculation
NEW YORK (AFP) - Pop superstar Beyonce on Saturday announced a televised project entitled “Lemonade” for next week, fueling speculation that she will release a “film-album.” Beyonce posted on Instagram a short video with the title “Lemonade,” which it billed as a “world premiere event” to air on cable network HBO on April 23. The rest of the video is cryptic, with a faint whispering as a person -- presumably Beyonce -- slowly rises with dreaded hair and a fur jacket, but without any glance at th
PerformanceApril 17, 2016
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Korea to take action on corporate restructuring
Korea’s Finance Minister Yoo Il-ho said that the government will aggressively push forward with restructuring financially vulnerable companies, making this its top priority with the general election over. The top fiscal policymaker added that it will begin with Korea’s shipping companies that face liquidity crises, saying that he is most concerned with Hyundai Merchant Marine, which is undergoing a self-rescue plan with conditions by its creditors. Korea’s Finance Minister Yoo Il-ho (Yonhap)“I w
April 17, 2016
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Axl Rose joins AC/DC as new singer
INDIO, California (AFP) - Australian hard rock elders AC/DC on Saturday announced Guns N' Roses frontman Axl Rose as their new singer as longtime frontman Brian Johnson suffers hearing loss. AC/DC confirmed the move hours before Rose was to take the stage with Guns N’ Roses guitarist Slash at the Coachella festival in California as part of a reunion after more than two decades. AC/DC, who broke off a North American tour last month after saying that Johnson was at risk of permanent hearing loss,
PerformanceApril 17, 2016
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Dylan, McCartney, Stones lined up for mega-concert: report
INDIO, California (AFP) -- The most legendary names in rock including the Rolling Stones, Paul McCartney and Bob Dylan are being lined up for a historic mega-festival, the Los Angeles Times reported Friday. The newspaper said organizers of Coachella, the lucrative rock festival that opened Friday, were making arrangements for the massive event to take place at the same venue in the California desert on Oct. 7-9. A representative from Coachella's Los Angeles-based promoter Golden Voice did not re
PerformanceApril 17, 2016
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SNSD Yoona making waves in China
Girls’ Generation member Yoona is garnering attention in China with Hunan TV’s “God of War, Zhao Yun,” SM Entertainment announced Friday. The 60-episode TV drama series “God of War, Zhao Yun” is Yoona’s first foray into Chinese television dramas. It had a 1.73 percent viewership rating for its first episode aired on April 3. In China, a viewership rating of 1 percent or more is considered high and proves the program’s popularity. The TV drama series also had a total of 2.35 billion views on Chin
TelevisionApril 17, 2016