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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Opposition mulls delay of financial investment income tax
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Immigration policy must go beyond labor supply: experts
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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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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Intelligence agency warns of N.K. hacking
North Korea has stolen information from the smartphones of key South Korean government officials, Seoul’s intelligence agency said Tuesday, adding support to the president’s call for the passage of a disputed cyberterrorism prevention bill.“It has been confirmed that the North hacked into the smartphones of dozens of government officials from late February to early March, stealing text messages and phone conversations,” the National Intelligence Service said through a press release.“Authorities
PoliticsMarch 8, 2016
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European firms don’t trust Korea’s regulatory system
European companies doing business in Korea have little confidence in the nation’s legislative and regulatory system, according to a report released Tuesday.The report, released jointly by the European Chamber of Commerce in Korea and consulting firm Roland Berger, was based on a survey of 139 European firms’ executives for two weeks in November. About 68 percent of the respondents have been doing business here for more than 10 years.The respondents picked discretionary enforcement of regulations
IndustryMarch 8, 2016
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Korean stocks down 0.6% on China woes
Korean shares fell 0.6 percent on Tuesday as China's export slump accelerated in February, sparking concerns over deepening woes in the world's No. 2 economy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 11.75 points to finish at 1,946.12. Trading volume was moderate at 354 million shares worth 4.84 trillion won ($4.01 billion), with losers beating gainers 401 to 391.China's overseas shipments dipped more than 25 perc
March 8, 2016
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Seoul imposes financial, shipping sanctions on North Korea
South Korea levied a fresh set of unilateral sanctions against North Korea on Tuesday, aimed at further squeezing Pyongyang’s financial and shipping networks and sources of foreign currency while tightening the global export control regimes. The government newly designated 30 North Korean and foreign organizations, and 40 individuals subject to an asset freeze and a ban on financial and property transactions with any South Korean entity, sharply expanding the existing blacklist to 34 groups and
North KoreaMarch 8, 2016
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[Photo News] LG to release stylus 2 smartphone
LG TO RELEASE STYLUS 2 SMARTPHONE-- LG Electronics said Tuesday that it will release the 5.7-inch (14.5 cms) Stylus 2, a budget smartphone featuring a stylus pen, via mobile carriers SK Telecom, KT, and LG Uplus in Korea this week. (LGE)
TechnologyMarch 8, 2016
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[Photo News] Galaxy S7 makes China debut
GALAXY S7 MAKES CHINA DEBUT – Samsung Electronics on Monday held the launch event for its latest smartphone Galaxy S7 and its Edge variant in Shanghai, China, with some 600 journalists and retailers in attendance. (Samsung Electronics)
TechnologyMarch 8, 2016
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Consumer agency warns about misleading TV shopping ads
Consumers should be on the lookout for exaggerated or false advertising on home shopping networks, the Korea Consumer Agency cautioned Tuesday.The KCA reported the results of a study conducted last September through October, which showed that 82.9 percent of TV shopping advertisements claiming a “TV-only” or “lowest price guaranteed” deal were selling products that were also available through online channels or were priced higher than the lowest cost. The study included 100 broadcasts on six maj
IndustryMarch 8, 2016
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Brokerages eye crowdfunding market
IBK Securities and Korea Asset Securities are among a handful of firms applying for licenses to run equity crowdfunding platforms, industry sources said Tuesday. “Under the registration system, those who meet the basic requirement such as the amount of capital will get a green light to launch the service,” an official at the regulator Financial Services Commission said. The FSC will announce new licensees later this month. Five platforms -- Yinc, Wadiz, Ucanstart, SFRfunding and Opentrade -- hav
March 8, 2016
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[Mac Margolis] Brazil’s politicians are no longer untouchable
For two years now, as Brazilians have watched a widening corruption scandal drag the economy and some of the country’s most storied names in politics and business into disrepute, I’ve kept a running conversation with my disgruntled neighborhood grocer. “Do you really think they’ll get to Lula?” Avelino scoffed the other day at his small market in Rio de Janeiro, referring to the ultrapopular former president Luiz Inacio Lula da Silva, whom he blames for the country’s sinking fortunes. “Ha, that’
ViewpointsMarch 8, 2016
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[Doyle McManus] A divided GOP doesn’t have a prayer
This is how a political party looks when it’s coming unglued.Last week, the Republicans’ two most recent presidential candidates, Mitt Romney and John McCain, denounced this year’s likely nominee, Donald Trump.“Donald Trump is phony, a fraud,” Romney said. “His promises are as worthless as a degree from Trump University.”McCain piled on, warning that Trump’s views on foreign policy were “dangerous.”Dozens of other Republicans, including a conservative U.S. senator, declared that they would not v
ViewpointsMarch 8, 2016
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[Rhee Chang-Yong]Asian growth in turbulent times
A new reality is emerging in Asia. In recent decades, many of Asia’s economies have boomed. The region today accounts for about 40 percent of the world’s GDP -- up from 25 percent in 1990 -- and contributes about two-thirds of global economic growth.There’s more. Asia has made unprecedented strides in reducing poverty and improving broad development indicators. The poverty rate fell from 55 percent in 1990 to 21 percent in 2010, while education and health outcomes have improved significantly. H
ViewpointsMarch 8, 2016
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Consumer agency warns about misleading TV shopping ads
Consumers should be on the lookout for exaggerated or false advertising on home shopping networks, the Korea Consumer Agency cautioned Tuesday.(123rf)The KCA reported the results of a study conducted last September through October, which showed that 82.9 percent of TV shopping advertisements claiming a “TV-only” or “lowest price guaranteed” deal were selling products that were also available through online channels or were priced higher than the lowest cost. The study included 100 broadcasts on
IndustryMarch 8, 2016
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[Hallyu Power] Digipedi, the duo behind some of K-pop’s oddest videos
This is the seventh article in a series that explores the driving forces behind hallyu and the global rise of Korean pop culture. --Ed. Seong Won-mo and Park Sang-woo of Digipedi (Digital Pedicure) have risen to become one of the most sought-after K-pop music video production teams, ever since they produced and directed their first music video for Dynamic Duo’s single “Complex” in 2007. The two, who have been best friends since elementary school, have taken their airtight bromance and love of
March 8, 2016
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Ssangyong Motor eyes compact SUV market with Tivoli Air
Ssangyong Motor Co., owned by India's auto giant Mahindra & Mahindra, launched the Tivoli Air on Tuesday, targeting the growing compact SUV market. The Tivoli Air is a long-body version of its popular Tivoli crossover SUV, which was launched early last year. The Tivoli led its domestic and overseas sales throughout last year, raising expectations for the larger-sized family model. "The Tivoli Air is armed with the unique dynamic style, which evolved from the luxurious and stylish brand of the Ti
MobilityMarch 8, 2016
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Home ownership falling among young Korean households
South Koreans in their 20s and early 30s lag far behind their American counterparts in terms of home ownership, a think tank report said Tuesday, indicating unemployment and other economic difficulties faced by young Korean people. According to a report released by KB Research, 21 percent of Koreans aged 20-35 had their own homes, including apartments, in 2010, whereas 36 percent of their same-age Americans owned their homes in 2014. The KB report is based on the latest data from the two countr
BusinessMarch 8, 2016
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Korea tops emerging market household debt list
Korea has one of the highest levels of household debt relative to gross domestic product among advanced and newly emerging economies, a report showed Tuesday. According to a quarterly report by the Bank for International Settlements, Korea had the eighth-highest household debt-to-GDP ratio among 41 rich and emerging countries.Out of the 17 emerging countries in the list, Korea came top for the 13th consecutive year, with 87.2 percent, followed by Thailand with 70.8 percent and Malaysia with 70.4
March 8, 2016
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Coupang ignites price war on everyday products
A price war on everyday products is intensifying with local discount supermarket chains rushing to slash prices on select items to match those offered by online retailers.Sparking this competition is the nation’s No. 1 e-commerce operator Coupang which has been shaking up the local retail market with the lowest prices on daily use products such as diapers, baby formula, tissues and bottled water.Combined with its exclusive “Rocket Delivery” system -- free shipping within 24 hours by Coupang’s ow
IndustryMarch 8, 2016
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Song Joong-ki revealed as secret donor
Actor Song Joong-ki has recently been nabbing the spotlight for more than his charismatic performance on popular TV series “Descendants of the Sun.” In a blog post last week, the Korea Childhood Leukemia Foundation revealed that the rising actor has been consistently donating to cancer-stricken children since 2011. According to the post, over 10 children have received treatments with the funds Song has provided anonymously over the years. Both the foundation and Song’s agency declined to disclos
TelevisionMarch 8, 2016
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Logen Logistics to open bids for sale this month
Logen Logistics, a privately held package delivery company, is expected to open preemptive bids from potential buyers on March 17, according to news reports. Corporate logo of Logen Logistics (Logen)Shuttle Korea Holdings, a wholly owned investment firm of Hong Kong-based Baring Private Equity Asia, has a 100 percent stake in Logen, according to an audit filing. J.P. Morgan is Baring Private Equity’s adviser for the sale of Logen.Shuttle Korea did not respond for comments, and J.P. Morgan could
March 8, 2016
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Young households suffer income decrease in 2015
Households headed by those in their 20s and 30s in South Korea saw their income decline for the first time last year amid a toughened job market, government data showed Tuesday.Households led by those under 39 years of age with family members of two or more earned a monthly average of 4.32 million won ($3,600) in 2015, down 0.6 percent from a year earlier, according to the data compiled by Statistics Korea.It is the first time that the monthly average income for households led by those in their
March 8, 2016