Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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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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‘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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KMA chief under pressure after surveyed doctors refuse to back him
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Meditation brings calm to Gwanghwamun
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Online banking transactions at record high in 2015
Korea’s Internet banking transactions surged to a record high last year, central bank data showed Thursday.The daily amount of money transferred through Internet banking services also 40 trillion won ($32.79 billion) for the first time in history, the Bank of Korea said. A consumer wires money from a mobile phone. (Yonhap)The number of daily transactions processed via the Internet reached an average 78.02 million in 2015, rising 17.4 percent from the previous year. The amount of money processed
March 3, 2016
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[Photo News] Audi introduces new Q7
AUDI INTRODUCES NEW Q7-- Audi Korea on Thursday launched the New Audi Q7, an improved version of the German carmaker’s signature premium sports utility vehicle. The New Q7 is 325 kilograms lighter and fitted with state-of-the-art features such as the Audi Virtual Cockpit interface, a Traffic Jam Assist. Prices start from 110 million won ($89,374). (Audi Korea)
MobilityMarch 3, 2016
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LG's VR camera accredited by Google's Street View
LG Electronics, a latecomer to the virtual-reality (VR) segment, said Thursday its new smartphone camera that rotates 360-degrees officially connects to Google's Street View service, announcing its full-fledged debut in the industry.Korea's No. 2 tech giant said it marked the first time for a smartphone maker to win such recognition from the U.S. giant.Along with Samsung Electronics, LG Electronics introduced its first camera exclusively for VR content. LG 360 Cam (Yonhap)The LG 360 Cam comes wi
TechnologyMarch 3, 2016
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Park meets with Egypt president
President Park Geun-hye met with her visiting Egyptian counterpart, Abdel Fattah el-Sisi, on Thursday to discuss bilateral ties, Cheong Wa Dae said The meeting will be an opportunity for the two countries to expand their bilateral ties to the next level and increase cooperation on regional and global issues, the South Korean presidential office said before the meeting.Egypt's president arrived in South Korea on Wednesday for a three-day visit that also includes talks with Prime Minister Hwang Ky
InternationalMarch 3, 2016
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Rival parties welcome U.N. Security Council resolution on N. Korea
South Korea's major political parties unanimously welcomed the U.N. Security Council resolution to punish North Korea for its recent provocations in a rare bipartisan move Thursday, echoing calls for the communist state to change its behavior. The latest resolution unanimously adopted by the U.N. Security Council on Wednesday aims to punish Pyongyang for conducting its fourth nuclear test on Jan. 6 and subsequent launch of a long-range rocket on Feb. 7. The North claims the rocket was used to p
North KoreaMarch 3, 2016
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[Photo News] Samsung attracts Chinese consumers
SAMSUNG ATTRACTS CHINESE CONSUMERS -- Tech giant Samsung Electronics holds a showcase event to introduce its new product lineups, including for TVs, refrigerators and washers during the Samsung China Forum that opened in Shanghai on Wednesday. (Samsung Electronics)
TechnologyMarch 3, 2016
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Parliament passes bill to prescreen airline passengers before flights
South Korea's parliament passed a revised bill to prescreen airline passengers to keep potential terrorists from flying into the country, the government said Thursday.The National Assembly, led by the ruling Saenuri Party, endorsed the revision to the immigration control law Wednesday, which calls for the checking of passenger manifests before airlines issue boarding passes, the Ministry of Justice said in a press release.South Korea has been running a test operation of the prescreening system i
DefenseMarch 3, 2016
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Coupang losses deepened in 2015 on big logistics investment
Korean e-commerce operator Coupang is expected to log mounting operating losses for 2015 due to hefty investments in the firm’s logistics capacity, industry sources said Thursday. Coupang is expected to log over 400 billion won ($326.9 million) in operating losses when it files its 2015 audit report in mid-April due to rising costs in building new logistics centers and hiring new staff, according to the sources.Coupang’s sales were estimated to have jumped more than fourfold last year from 348.5
IndustryMarch 3, 2016
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PM explores policy options to expand trade with China
Prime Minister Hwang Kyo-ahn on Thursday exchanged views with local business leaders on doing trade with China to help them find ways to better penetrate the world's second largest economy.During a meeting with eight company executives and related government officials, Hwang explored policy options to better assist companies in expanding exports, the Prime Minister's Office said. Prime Minister Hwang Kyo-ahn (Yonhap)Hwang stressed the importance of utilizing the bilateral free trade pact which
March 3, 2016
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Volkswagen to recall emissions-faked cars in late April
Volkswagen and its luxury brand Audi plan to start the recall process for their emissions-faked vehicles sold in Korea in late April following a delay caused by the Seoul government rejecting the companies' measures to fix the problem for being insufficient, industry sources said Thursday.The two German carmakers recently submitted their recall plans to the environment ministry for around 125,000 vehicles equipped with what are called deceit devices designed to manipulate emissions results. Unde
MobilityMarch 3, 2016
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Hyundai, Kia ramp up push in Europe with SUV models
Hyundai Motor and Kia Motors--Korea's two major automakers -- are showcasing major sport utility vehicle models at a motor show in Geneva in a bid to strengthen their presence in what is deemed to be one of just a few growing markets this year, market observers said Thursday.At the motor show underway in the European city, which kicked off earlier this month, the two Korean carmakers put their latest versions of the Tucson and the Sportage on display, as they are eyeing the steadily growing mark
MobilityMarch 3, 2016
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Key business bills win parliamentary approval
Although overshadowed by the hotly debated antiterror bill, a raft of key bills pertaining to various aspects of Corporate Korea passed through the National Assembly on Thursday. Among them, four bills that govern corporate restructuring, moneylending, insurance fraud and executive pay disclosure hold particular significance for their expected impact on businesses and individuals, particularly at this time of economic hardship. Lawmakers attend a plenary session at the National Assembly in Seoul
March 3, 2016
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POSCO to raise steel prices to reflect increased cost
POSCO has decided to raise the prices of its high value-added electrical steel products for domestic consumption, a move expected to lead to a hike in prices of automobiles, refrigerators and other home appliances, industry sources said Thursday.According to the sources, the Korean steelmaking giant recently decided to raise non-oriented and oriented electrical steel prices by 50,000 won ($40.73) and 200,000 won per ton, respectively, in the middle of this month.The price increases for the steel
IndustryMarch 3, 2016
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Online sales soar 21% in January
Online shopping sales in Korea surged 21 percent in January from a year earlier on robust demand for foodstuffs and cosmetics, a government report showed Thursday.Total online transactions reached 5.21 trillion won ($4.27 billion) in the first month of 2016, compared to 4.3 trillion won a year earlier, according to the report compiled by Statistics Korea.The January tally, however, retreated 2.8 percent from a record high of 5.36 trillion won in December.Purchases made through smartphones, table
IndustryMarch 3, 2016
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Chaebol owners to disclose earnings starting 2018
Companies will be obliged to disclose the earnings of owners and their family members starting in 2018 as part of the government's efforts to boost market transparency, the financial regulator said Thursday.It is in accordance with the revision of the country's capital market law by the National Assembly earlier in the day, according to the Financial Services Commission (FSC). According to the law, all companies shall officially make known the earnings of their top five wage earners, regardless
March 3, 2016
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Consumer price growth hits over 1% in Febuary
Korea's consumer prices grew by more than 1 percent in February for the first time in two months on a rise in prices of public services and agricultural products, government data showed Thursday.The country's consumer price index rose 1.3 percent last month from a year earlier, accelerating from January's 0.8 percent on-year gain, according to the report by Statistics Korea.The figure had remained below the 1 percent level for 11 straight months until October last year but hit 1 percent in Novem
March 3, 2016
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Why six political apostates left the Left
“Exit Right: The People Who Left the Left and Reshaped the American Century” By Daniel Oppenheimer Simon & Schuster (416 pages, $28) When Ronald Reagan joined the Hollywood Democratic Committee, it was riven with communists. Four decades later, of course, the Republican president stood in West Berlin and demanded of the communist bloc, “Tear down this wall!” His is the least intimately told of the six stories of political transformation in Daniel Oppenheimer’s sweeping, beautifully written but
BooksMarch 3, 2016
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'Opening Belle' tells story of women of Wall Street
“Opening Belle” By Maureen Sherry Simon & Schuster (352 pages, $25) If you’ve seen the film “The Big Short” and noticed that it was all about the men who profited from the financial crisis of 2007-10, you may have wondered where all the Wall Street women were. Sure, there was that Goldman Sachs saleswoman and a couple of others, but most female roles fell into the category of exotic dancer or somebody's wife. You’ll find the women of Wall Street here, in the diverting “Opening Belle,” which is
BooksMarch 3, 2016
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Charlotte Bronte cast as a fighter
"Charlotte Bronte: A Fiery Heart" By Claire Harman Alfred A. Knopf (480 pages, $30) Two hundred years after her birth, Charlotte Bronte's rage over social expectations for women and thwarted ambitions are as relevant as ever, and a new biography by Claire Harman makes the "Jane Eyre" author fresh and relatable to readers who might only think of the Brontes as figures long buried in tragic myth. Bronte and her sisters Emily and Anne published their poems and novels -- including "Wuthering Heig
BooksMarch 3, 2016
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Seoul city approves Shilla's plan for hanok hotel
The city of Seoul approved a plan by Hotel Shilla to build a traditional-style accommodation in central Seoul after rejecting previous attempts, officials said Thursday.The Seoul Metropolitan Government reached an understanding on Wednesday to endorse the plan to erect a hotel built in the hanok-style within the compound of the luxury hotel's vast grounds in Jangchung-dong. Hotel Shilla is an affiliate of South Korea's biggest conglomerate Samsung Group. Hanok refers to traditional Korean tiled
IndustryMarch 3, 2016