Most Popular
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Opposition mulls delay of financial investment income tax
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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Israel targets Palestinian group in first strike on Beirut center
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Shut up and dance
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BTS’ Suga fined W15m for e-scooter DUI
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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POSCO in talks with Iran to export steel tech
POSCO is in talks with Iranian steelmaker PKP to export its FINEX technology, a next-generation and eco-friendly steelmaking technology, according to a government source. “POSCO is one of the Korean firms, which are poised to sign an agreement with their Iranian counterparts for a business deal, during the upcoming minister-level Korea-Iran Business Committee meeting next month,” said a high-level official from the Ministry of Trade, Industry and Energy on Tuesday.A Korean business delegation
IndustryJan. 27, 2016
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Ahn apologizes to DJ’s hospitalized widow
People’s Party founder Rep. Ahn Cheol-soo took the opportunity Wednesday to visit former President Kim Dae-jung’s widow, Lee Hee-ho, who is hospitalized after a fall, to apologize for the controversy surrounding his previous visit.Ahn had faced growing criticism for recording without consent their conversation on Jan. 4 at the 94-year-old former first lady’s home, and for allegedly exaggerating her words of encouragement. The conversation was also leaked to the local media. The report on her end
PoliticsJan. 27, 2016
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State tax agency launches probe on 30 offshore tax evasion cases
South Korea's tax authorities said Wednesday that it has launched probes into 30 offshore tax evasion cases as part of its efforts to clamp down on tax dodging.The National Tax Service (NTS) said the investigation is targeting companies and individuals who have allegedly concealed their wealth using offshore paper companies in various tax havens around the world.A total of 1.3 trillion won (US$1.08 billion) in taxes were slapped on evaders as a result of its offshore probes last year, up 5 perce
Jan. 27, 2016
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Korea's housing market stays upbeat in Q4: report
South Korea's housing market continued its upside mode in the fourth quarter of last year on the back of a government-led stimulus and low borrowing costs, a report showed Wednesday.Home prices in the country rose an average of 4.4 percent on-year in the October-December period, up from a 4.1 percent on-year gain in the previous quarter, according to a report compiled by the state-run Korea Development Institute (KDI).Seasonally adjusted home prices edged up 0.9 percent from three months earlier
Jan. 27, 2016
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Bank lending rates on fresh household loans rise in Dec.
Bank lending rates on new household loans rose slightly from a month earlier in December apparently due to a U.S. rate hike, central bank data showed Wednesday.The average rate for new household loans gained 0.07 percentage points from the previous month to 3.23 percent last month, according to data from the Bank of Korea (BOK).December marked the second straight month the average rate on new household loans gained from a month earlier.The average rate on new home-backed loans added 0.08 percen
Jan. 27, 2016
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Korea's power consumption up 1.3% in 2015
South Korea's electricity consumption moved up a modest 1.3 percent on-year in 2015, helped by a rise in demand from the industrial and private sectors, government data showed Wednesday.The country used 4,837 kilowatt-hour (kWh) of power last year, up from 4,776 kWh in 2014, the Ministry of Trade, Industry and Energy said.Power usage is an important barometer of a country's economic health, with gains corresponding to improvements in the economy.Asia's fourth largest economy grew 2.6 percent in
Social AffairsJan. 27, 2016
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Transportation of passengers stranded at Jeju airport completed
Airlines have completed transporting tens of thousands of passengers stranded over the weekend by heavy snowfall off the southern resort island of Jeju, the government said Wednesday.The Ministry of Land, Infrastructure and Transport said since the first flight departed Jeju International Airport on Monday, 413 flights have taken off, carrying 72,753 passengers, after operations at the airport resumed. The number included 9,340 people who left aboard 71 international flights. The occupancy rate
Social AffairsJan. 27, 2016
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USFK to use Gray Eagle as wartime drone in Korea
American troops stationed in South Korea will fly the combat drone Gray Eagle in the event of a war on the Korean Peninsula, officials said Wednesday."U.S. Forces Korea is currently operating the Raven at the battalion level and the Shadow at the brigade level," an official at the Republic of Korea-U.S. Combined Division said, referring to the hand-launched unmanned aerial vehicle and the reconnaissance drone. "In wartime, the USFK's 2nd Infantry Division will deploy the Gray Eagle," the officia
DefenseJan. 27, 2016
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Entrepreneurship index tumbles due to public sector: report
South Korea's entrepreneurial spirit has weakened sharply compared with the 1970s as economic bills are often left in limbo and the establishment of large enterprises have become a lot tougher than in the past, a report showed Wednesday. The entrepreneurial spirit index fell from 150.9 in 1976 to 66.6 in 2013, slightly higher than 2009 in the wake of the global financial crisis, according to the report by the Korea Economic Research Institute (KERI). The KERI, a think tank affiliated with the Fe
Jan. 27, 2016
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Hyundai Motor leads Mexican import car market in 2015
South Korea's top carmaker Hyundai Motor Co. emerged as the No. 1 import auto brand in Mexico in 2015, data showed Wednesday, beating other rivals less than two years after its debut in the country.Hyundai Motor sold 26,251 automobiles in Mexico last year, rising as the leading foreign brand without localized production facilities for the first time, industry data showed. The South Korean carmaker tapped the Mexican market in May 2014. French auto firm Renault S.A. and Japan's Suzuki Motor Corp
MobilityJan. 27, 2016
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N. Korea's 'byeongjin' policy not viable in long
North Korea's dual pursuit of nuclear weapons development and economic growth may have a short-term impact on boosting its moribund economy, but the policy could be a stumbling block for sustainable growth, experts here said.North Korean leader Kim Jong-un has been pursuing his signature policy of nuclear and economic development in tandem, commonly known as the "byeongjin" policy. Seoul and Washington have warned that the North's dual-track policy is a dead end.The North's leader did not make a
North KoreaJan. 27, 2016
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Korea to release online price index
South Korea plans to unveil a new index tracing online retail prices this year by using big data from private sector to reflect actual economic sentiment, according to Statistics Korea on Tuesday. The state-run agency plans to release an online price index that will complement the consumer price index by the end of this year, the agency reported in its 2016 plan to President Park Geun-hye.To develop the new indicator, Statistics Korea is currently collecting price data from six major online shop
Jan. 27, 2016
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Smuggled immigrants came in through brokers: reports
A Chinese couple who were caught four days after illegally entering South Korea through Incheon International Airport, came in through a broker who promised them jobs here, news reports said Wednesday.The married couple, both aged 31 were apprehended on Jan. 25 in Cheonan, South Chungcheong Province, after slipping through four different stages of security system at Korea’s largest airport.The Justice Ministry’s Immigration Service said that the two of Korean descent paid a total of 120,000 yuan
Social AffairsJan. 27, 2016
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Kia sells record high, profits fall
Kia Motors reported Wednesday an on-year decline of 8.5% in its operating profits for 2015, although it posted record-high sales of 40.5 trillion won ($39 billion). The company sold 2,915,000 cars worldwide last year, however, the soaring marketing fees and fluctuating currency exchange rate dented its profits. (Yonhap)For 2015, Kia Motors reported an operating profit of 2.34 trillion won. Its net profit fell 12.1 percent to 2.63 trillion won.According to the company, 1.72 million units of cars
MobilityJan. 27, 2016
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S. Korea’s consumer sentiment sinks in Jan.
South Korean consumers’ sentiment slipped in January, with more people expecting their income and overall economic conditions to further decline, central bank data showed Wednesday.The Composite Consumer Sentiment Index came in at 100 for January, falling from the revised 102 for December, according to the data.The reading was on par with July last year when the economy fell into the doldrums in the aftermath of a nationwide outbreak of MERS. A reading below 100 indicates that pessimists outnumb
Jan. 27, 2016
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Police arrest serial arson suspect
Police arrested a 22-year-old man on Wednesday on suspicion of setting fires at three motels in Incheon and Seoul.Police said the suspect set the fires last week out of frustration about his business failure and joblessness, according to Bupyeong Police Station.No casualties were reported from the serial arsons, but police and fire fighters said there was some 30 million won ($25,000) of property damage from blazes at two motels in Seoul and one in Bupyeong-gu, Incheon.A commotion erupted on Thu
Social AffairsJan. 27, 2016
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Actor Ryu Jun-yeol not happy with 'Reply 1988' ending
Were you disappointed by the way "Reply 1988" ended?Actor Ryu Jun-yeol, who played one of the male leads, Kim Jeong-hwan, in the tvN hit drama, is with you; the 30-year-old says he didn't expect the sudden twist, which "Reply 1988" fans accuse of being a cruel joke.Spoiler alert: Ryu doesn't end up with Deokseon, the female protagonist and Kim's long-time crush. Deokseon, played by singer Hyeri, runs into the arms of his rival Choi Taek, who had been somewhat of a peripheral character at the beg
TelevisionJan. 27, 2016
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Gov't to check feasibility of 3 new airports
The government plans to conduct feasibility studies on the construction of new airports in three western areas where demand for air transportation has been on the rise, the transportation ministry said Wednesday.The state-run Korea Transport Institute will carry out the studies on the three regions -- Saemangeum, Seosan and Baengnyeong Island -- and receive input from civilian experts as part of the country's five-year airport development plan, the Ministry of Land, Infrastructure and Transport
Social AffairsJan. 27, 2016
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Park mulling visiting Iran
President Park Geun-hye is considering visiting Iran, an official said Wednesday, as Iran has emerged as a land of opportunity following the lifting of international sanctions.Presidential spokesman Jeong Yeon-guk made the comments to reporters, without elaborating on the time frame for the possible visit.Park, if the trip is made, would be the first South Korean president ever to visit Tehran.South Korea is seeking to tap into business opportunities in Iran as the United Nations have lifted mos
Social AffairsJan. 27, 2016
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Hyundai's Ioniq to heat up competition in Korea
Competition is expected to intensify in the South Korean hybrid vehicle market as two global automakers are set to clash with their new subcompact models that are already drawing favorable responses from customers, market watchers said Wednesday.With Hyundai Motor Co. and Toyota Motor Corp. claiming to guarantee better functions and improved driving performance than existing models, fuel efficiency remains a major factor that determines the winner in the hybrid market in the years to come.Hyunda
MobilityJan. 27, 2016