Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Immigration policy must go beyond labor supply: experts
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Opposition mulls delay of financial investment income tax
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China’s M&A spree in Korea hits record high
As China’s merger and acquisition deals in South Korea are hitting a record high, concerns are growing over possible technology leaks and China’s increasing M&A debt, which may hurt local industries. According to a report released Monday by the Korea International Trade Association, the number of Korean firms purchased by Chinese companies stood at 33 in 2015, a threefold increase from the previous year. The volume rose 128 percent to $1.9 billion during the same period, the report said.Over the
IndustryMarch 14, 2016
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CJ E&M at vanguard of Korean culture boom
This is the fourth in a series of articles analyzing the top 10 companies by market capitalization traded on the tech-heavy KOSDAQ market. --Ed.For investors looking to take a bet on Korea’s hot pop culture scene, CJ E&M deserves a close look. The Seoul-based firm is arguably Korea’s most prominent provider of cultural content now, churning out one mega hit after another. From “Grandpas Over Flowers (2013,) “Incomplete Life (2014),” to “Reply 1988” last year, many of its TV productions aired on
March 14, 2016
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Korea considers control tower for AI push
With all the attention on the ongoing human-versus-computer Go matches in Seoul, the government is considering to set up a control tower to nurture the nation’s nascent artificial intelligence industry. The control tower will aim to combine ongoing AI projects and funding plans, as well as achieve synergy among them. Detailed plans to respond to possible economic and social changes are also expected to be made. A task force team has been operated since two weeks ago under the Ministry of Science
TechnologyMarch 14, 2016
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Incheon Airport aims to become world’s fifth-largest airport
Incheon Airport aims to become the fifth-largest airport in the world, able to handle 66 million international passengers a year by 2020, the airport’s new CEO said Monday.To reach that goal, Incheon International Airport Corp. CEO Chung Il-young vowed to upgrade its infrastructure, service facilities, human resources and airline network. Incheon International Airport Corp. CEO Chung Il-young (Won Ho-jung/The Korea Herald)“Our facilities have grown old, and must be restored and maintained. The
IndustryMarch 14, 2016
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[Photo News] Samsung's new galaxys hit shelves worldwide
SAMSUNG’S NEW GALAXYS HIT SHELVES WORLDWIDE -- Samsung Electronics set up an experience zone for consumers to try the firm‘s latest flagship smartphones Galaxy S7 and S7 Edge in London. The Korean tech giant started worldwide sales of the handsets on March 11. (Samsung Electronics)
TechnologyMarch 14, 2016
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[Photo News] K-Bank moves into new head office
K-BANK’S HEAD OFFICE -- Employees of the K-Bank online-only bank, which will be incorporated in the coming months, pose with items featured in the Avengers movie series at an event to celebrate the bank’s first day at the office at The K Twin Tower in Gwanghwamun, Seoul, Monday. (KT)
TechnologyMarch 14, 2016
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Daewoo Shipbuilding to issue new shares worth W600b to improve finances
Daewoo Shipbuilding & Marine Engineering is expected to issue additional new shares worth 600 billion won ($507 million) this year, as part of efforts to improve its capital base, according to the listed shipbuilder’s main creditor Korea Development Bank on Monday.The new share issuances will most likely be allotted to the state-run creditor bank and the company’s employees, much like the last time the shipbuilder issued new shares worth 460 billion won to KDB and employees of Daewoo Shipbuildin
March 14, 2016
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Kakao to introduce webtoon-inspired dramas, films in China
Korea’s largest mobile messenger operator Kakao said Monday that five of its webtoons will be remade into movies, TV and web dramas. Webtoons are comics that are published on mobile and online platforms. (Clockwise, from left top) “Girl in the Mirror,” “Just One Shot,” “My Boss Dies Once a Day,” “Help! Breakup Ghost,” and “Cashero.” KakaoThe Korean mobile messenger firm has already signed contracts with Huace Group, a Chinese film and TV media group, to remake four webtoons and the two partners
TechnologyMarch 14, 2016
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Hanjin chairman under fire for trivializing pilots’ job
The owner of Hanjin Group, parent company of the country’s largest flag carrier Korean Air, came under fire Monday for demeaning pilots by stating that they are useful only during emergencies.Commenting on a Facebook post uploaded by a Korean Air pilot, Hanjin Group chairman Cho Yang-ho said his employee was exaggerating, and that pilots’ work is easier than driving a car thanks to the autopilot system. “Pilots are briefed by flight control staff as well as weather analysis by the operation cent
IndustryMarch 14, 2016
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Tax revenue increase detached from slowing economy
A monthly fiscal report released by the Finance Ministry last week showed that Korea’s national tax revenue reached 30.1 trillion won ($25.3 billion) in January, up 4.4 trillion won from a year earlier. This accounts for 13.5 percent of the total national tax revenue planned to be collected throughout the year, compared with the corresponding figures for the same months in 2014 and 2015, which stood at 11.7 percent and 11.9 percent, respectively.This spike has drawn some skeptical and grumbling
March 14, 2016
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Nature Cell begins U.S. phase II trials of arthritis stem cell therapy
South Korean biotechnology firm Nature Cell on Monday said it has begun Phase II clinical trials on its stem cell-based osteoarthritis treatment in the U.S., drawing a step closer to commercializing the new drug overseas. Osteoarthritis, sometimes called degenerative joint disease, is the most common chronic condition of the joints, occurring most often in the knees, hips, lower back and neck, according to the U.S.-based Arthritis Foundation. Dubbed “Joint Stem,” Nature Cell’s new therapy uses a
IndustryMarch 14, 2016
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Lack of budget, workforce hinder child abuse fight
With the tragic death of a 7-year-old boy from long-term abuse by his parents revealed last week, the government has laid out additional measures to prevent child abuse. But concerns are growing over the efficacy of the measures, with activists taking issue with shortage of financial, human resources in the field and authorities’ lack of will to implement the policies. Police on Monday launched a probe into suspected child abuse cases by reviewing the cases of 809 infants aged from 4 to 6 year
Social AffairsMarch 14, 2016
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Korean farmers, laborers less tolerant of migrants: survey
South Koreans who work in fishing, farming and construction industries are less tolerant of immigrants than those who belong to other professional fields, a report by the Gender Ministry showed on Monday.Those industries in South Korea currently employ a large number of foreign-born laborers.The research results reflect how South Korea’s working population may feel “threatened” by migrant workers, many of whom are male, said Ahn Sang-soo, a researcher at Korea Women’s Development Institute who l
Social AffairsMarch 14, 2016
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Exhibition shows Korean journey toward universal suffrage
With the nation's 20th general election less than a month away, a retrospective exhibition is taking place that will guide visitors through the tumultuous history of South Korean democracy.The National Museum of Korean Contemporary History opened a special exhibition titled "Elections Foster Democracy" on Monday, with 300 relevant historical materials, including decades-old election posters and ballot boxes.Since the first general election took place on May 10, 1948, to establish an independent
PerformanceMarch 14, 2016
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Noise, trash mar Seoul's mural village
Ihwa-dong, located near Naksan Park in the northern part of central Seoul, is a quaint community which used to be a dull shantytown a decade ago. In 2006, with the help of the Ministry of Culture and Tourism, the community transformed itself through what they called the “Naksan Project.” A total of 68 artists gathered to paint walls and install sculptures. An ordinary village soon turned into a booming tourist spot. Despite its off-the-beaten-path location, the mural village has become overcrowd
Social AffairsMarch 14, 2016
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Korea condemns deadly terrorist attack in Turkey
South Korea on Monday condemned a terrorist bombing in Turkey that left dozens dead or wounded, saying it will continue efforts to root out the violence.On Sunday, a suicide car bomb struck a square in central Ankara, killing 34 people and injuring 125 others, according to officials. It was the second attack on the Turkish capital in less than a month.In a statement issued by the Foreign Ministry, South Korea expressed "shock and concern" at the latest attack and offered its condolences to the v
InternationalMarch 14, 2016
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Korea to offer K-pop classes at 20 overseas Korean cultural centers
South Korea will run a program for teaching K-pop songs and dance moves to foreigners interested in Korean culture at its overseas cultural centers, the government said Monday.The "K-pop academy" is scheduled to open gradually at 20 Korean cultural centers in 18 countries across the world by August, starting with the Korean Cultural Center in Shanghai on Tuesday, the Ministry of Culture, Sports and Tourism said in a release.The countries that will have the academies include China, Thailand, Indi
PerformanceMarch 14, 2016
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Seoul envoy to U.N. warns of tougher sanctions for additional N.K. provocations
A top South Korean envoy to the United Nations warned Monday that the international organization could further tighten sanctions on North Korea should the communist regime engage in additional provocations.Speaking at a forum hosted by the Kwanhun Club, an association of senior journalists, Oh Joon stressed that although the latest set of U.N. Security Council sanctions on Pyongyang is the harshest ever in decades, the UNSC could further pressure the isolationist regime.Even after the UNSC adopt
North KoreaMarch 14, 2016
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FM Yun calls for all-out efforts to resolve N.K. nuke issue
Foreign Minister Yun Byung-se called on South Korean diplomats on Monday to devote all of their effort to resolving the North Korean nuclear issue following the adoption of new sanctions on the communist regime.Yun made the call during an annual gathering of ambassadors and other heads of overseas missions, saying South Korea should lead the international community in enforcing U.N. Security Council Resolution 2270.The resolution, adopted earlier this month to punish North Korea for its recent n
North KoreaMarch 14, 2016
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N. Korea has yet to invite China for rare party congress
China's ruling Communist Party has yet to receive an invitation from North Korea to attend a rare party congress in May, a diplomatic source with knowledge of the matter said Monday. North Korea is gearing up to hold the Workers' Party Congress in May. The last such party conference was held in 1980 and China sent a vice premier to Pyongyang at that time. "To my knowledge, China and other communist nations such as Vietnam and Cuba, have not received an invitation from North Korea for the party c
North KoreaMarch 14, 2016