Most Popular
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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's resignation
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Most teen sex offenders get away with slap on wrist
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Suicide attempts spike among youth in Korea
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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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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Prosecutors raid defense contractor over alleged corruption in arms dealing
Prosecutors on Tuesday raided a defense equipment contractor over alleged corruption involving the delivery of coastal surveillance equipment for the military.The Seoul Central District Prosecutors' Office said it confiscated contract documents and computer hard drives from the company, identified only by its initial D, which supplied parts to the country's arms procurement agency to establish a complex surveillance system along the country's shoreline.The system that helps integrate existing ra
Social AffairsApril 5, 2016
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Senior citizen nabbed for assault on 64-year old prostitute
A man was arrested early Tuesday morning for hitting a prostitute, claiming she had not kept her end of the bargain. According to the Busan Seobu Police, the 69-year-old man surnamed Kim had seized the 64-year-old escort, surnamed Lee, by her hair and slapped her across the face in a motel room. (123RF)Kim was arrested by the police while carrying out the act. They had arrived at the scene following reports of a woman screaming. Kim told the police he had paid Lee 250,000 won ($220) for a “long
Social AffairsApril 5, 2016
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K-water seeks to address Asia’s water scarcity
K-water said it aims to take the lead in tackling Asia’s water scarcity in partnership with member nations of the Asia Water Council, an organization that aims to foster systematic regional cooperation on related issues.The Korean government agency for water resource development took the lead in establishing the council last year along with the Ministry of Land, Infrastructure and Transport to deal with water crisis in Asia. It is currently comprised of 26 member nations and 105 relevant organiz
IndustryApril 5, 2016
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[Market Now] Risks of KAI value decline abate
Given that concerns are falling over the possibility of the Korea Aerospace Industries share price further declining following massive block equity sales from its major shareholders, analysts said fundamentals of the aircraft maker and parts developer will now be reflected in the market.KAI's Surion utility helicopter (KAI)Shares of KAI, which develops FA-50 fighter jets and T-50 trainers, have been facing some headwinds as a result of stake sales by its shareholders, which include Hyundai Motor
April 5, 2016
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Global competition shows technology aids weight loss
MIAMI (AFP) - A friendly international competition to encourage exercise using pedometers and online tools was successful in helping people lose weight and improve their fitness over the course of three months, researchers said Sunday. The results of the study -- based on self-reported data from 68,000 people who participated in the virtual event known as Stepathlon -- were presented at the American College of Cardiology's annual meeting in Chicago. Stepathlon is run by a start-up company in Mum
TechnologyApril 5, 2016
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From limos to junk, quirky museums tell Beijing's history
BEIJING (AP) -- Stuffed into a tiny room off an alleyway are items that Wang Jinming readily admits were put out with the garbage: Paper string, a needle holder, a metal pancake maker built for thrusting into a fire. "These objects all look quite old and shabby," he said. "But they record real history." Wang's Beijing Old Items Exhibition in the heart of old Beijing is one of dozens of private museums that dot the capital’s backstreets and its suburbs. Their collections feature the grand and mun
CultureApril 5, 2016
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Sony launches world’s smallest portable speaker
Sony launched three new additions to its h.ear audio accessory lineup, including the world’s smallest portable speaker h.ear go, in Seoul on Tuesday. The h.ear go, consisting of two 35-millimeter full-range speakers, weighs only 790 grams. Loaded with dual tweeters as well as dual passive radiators at the front and the back, the speaker offers high quality full sound despite its compact size. And the battery life is a whopping 12 hours. Singer IU, a Korean ambassador for Sony, poses with the h.
TechnologyApril 5, 2016
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[Newsmaker] Mr. Pizza chairman apologizes for assault
The chairman of MPK Group, which runs the Mr. Pizza chain, issued an official apology Monday night on the company‘s website in response to public outcry over his alleged assault of a security guard Saturday night.“It was my mistake. I sincerely apologize to the person who was hurt,” the statement from chairman Jung Woo-hyun reads. “I also apologize for upsetting many others. I take full responsibility for the incident, and regret my actions.”MPK Group chairman Jung Woo-hyun The apology came a da
IndustryApril 5, 2016
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Despair of Koreans in 20s, 30s behind whimsical images
Artist Kim Hyun-jung captures the state of mind of 20- and 30-something Koreans, portraying feelings of envy triggered by social media posts and despair of today’s young generation in their everyday life. “I try to engage in social networking sites and see how they work these days. I like listening to other people’s stories and watching the news. By doing so, I believe I can portray the most accurate picture of today’s young generation,” said Kim, 29, in an interview in Insa-dong on Monday. He
PerformanceApril 5, 2016
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Man registers fictitious child for state subsidies
Police are seeking an arrest warrant for a man who registered a fictitious child to pocket government subsidies. According to the Busan Gijang Police, the suspect, a 35-year-old man surnamed Lee, reported a nonexistent child as his son in 2009 in order to receive state support for child rearing. The total sum he gained through the false report came to 7.7 million won ($6,600). (123RF)Lee hatched his plot when he helped his father register a son by another woman. In the process, he fabricated the
Social AffairsApril 5, 2016
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Tong Yang Moolsan picked for Kukju Machinery takeover
Tong Yang Moolsan, Korea’s third-largest farming machinery and equipment maker, said Tuesday that it has been chosen as preferred bidder for the takeover of smaller rival Kukju Machinery. “Tong Yang Moolsan has been named preferred bidder for the takeover of Kukju Machinery,” the KOSPI-listed firm said in a filing in Seoul. A tractor model of Kukju MachineryIn a separate filing, the seller, Dongkuk Steel Mill, also confirmed its choice of Tong Yang Moolsan among bidders. Up for sale is the entir
April 5, 2016
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Media ignore win of film on HK's future
BEIJING (AP) -- Mainland Chinese media ignored a film festival award by "Ten Years," a collection of five shorts that depict a gloomy future for Beijing-ruled Hong Kong, where freedom of speech has all but disappeared. "Ten Years" won out over the favorite, crime thriller "Port of Call," in the best film category at Sunday's Hong Kong Film Festival. "Port of Call," which won seven awards, had been nominated in 13 categories and "Ten Years" just one. Mainland media failed to mention the win by "T
FilmApril 5, 2016
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Swift thanks 'boyfriend Adam'
LOS ANGELES (AP) -- For the second year in a row, the iHeartRadio Awards became the iHeartTaylorSwift show. Not only did Swift claim three prizes, including album of the year, but her bestie and her boyfriend took home trophies, too. Swift, who swept the awards last year, won the first and last prize Sunday night -- female artist and album of the year. In between, she claimed best tour honors for her star-studded "1989 World Tour," thanking boyfriend Calvin Harris (real name: Adam Wiles) from th
PerformanceApril 5, 2016
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Carlyle to take Yakjin Trading public: report
U.S.-based private equity fund Carlyle has reportedly failed to sell Korea’s garment original equipment manufacturer Yakjin Trading, and will move to take the company public instead, a local news report said.“Caryle is considering other various options including initial public offering,” as all potential buyers withdrew from due diligence on Yakjin and walked away from the deal, Yonhap said, quoting an unidentified source.The Carlyle Group’s associate vice president Tammy Li, reached by phone, d
April 5, 2016
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Korea’s fiscal deficit swells to 6-year high
South Korea posted a fiscal deficit of 38 trillion won last year on the back of increased bond issuances to finance its extra spending on boosting the economy, welfare and job creation following the Middle East respiratory syndrome epidemic, according to the Finance Ministry on Tuesday.The deficit recorded in the government’s fiscal account, excluding balances of social security funds – a key indicator of public financial soundness – is the biggest in six years. In 2009, Korea had a fiscal defic
April 5, 2016
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Dubious deal for succession at Daelim resurfaces
The recent fuss involving misbehavior of Daelim Group‘s Lee Hae-wook has raised the public attention to how the relatively little known third-generation scion of the family-controlled conglomerate became heir at the age of 47 last year. Lee, vice chairman of Daelim Industrial, the flagship construction unit of the group, has exposed the group to reputation risk since his repeated abuse of personal chauffeurs was revealed last month. His prompt public apology for his misdeeds at the firm’s shareh
BusinessApril 5, 2016
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'Panama Papers' revelations trigger global probes
Several countries have launched tax evasion probes after a massive leak of confidential documents lifted the lid on the murky offshore financial dealings of a slew of politicians and celebrities.The scandal erupted on Sunday when media groups began revealing the results of a year-long investigation into a trove of 11.5 million documents from the Panamanian law firm Mossack Fonseca, which specialises in creating offshore shell companies.Among those named in the "Panama Papers" are close associate
World BusinessApril 5, 2016
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Korea, Mexico ink to cooperate on smart grid
State-run Korea Electric Power Corp., the nation’s top utility company, signed a memorandum of understanding with Mexico’s state-owned electric utility company Comision Federal de Electricidad on Monday for comprehensive cooperation on smart grid and new energy projects, KEPCO officials said.The MOU was concluded during President Park Geun-hye’s visit to Mexico. KEPCO CEO Cho Hwan-eik is a member of the business delegation accompanying the president. KEPCO senior vice president Lyu Hyang-reol (t
IndustryApril 5, 2016
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Samsung extends its lead in DRAM sector
Samsung Electronics, the world’s second largest semiconductor firm, has achieved a breakthrough in the global chip sector by successfully mass-producing a 10-nanometer-class DRAM chip, the company said Tuesday. The new 8-gigabit double-data-rate-4 (DDR4) DRAM chip -- based on 1x nanometer chip design and manufacturing technology -- will place the Seoul-headquartered chipmaker in an unrivaled position, according to the firm. Sams
TechnologyApril 5, 2016
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Demand for bank loans expected to shrink in Q2: poll
Demand for fresh bank loans by local companies and households is expected to dwindle in the second quarter, a survey showed Tuesday.The overall index measuring demand for fresh bank loans came to 3 for the April-June period, down from 4 for the previous quarter, according to the Bank of Korea (BOK). A lending section of a commercial bank branch in Seoul (Yonhap)A reading above zero means demand is expected to grow from three months earlier while a reading below the benchmark means demand will li
April 5, 2016