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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Shut up and dance
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Israel targets Palestinian group in first strike on Beirut center
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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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[Kim Seong-kon] Korea in the vortex of world politics
As North Korea jeopardized world peace again with its self-proclaimed hydrogen bomb test, South Koreans are concerned about the future of the Korean Peninsula. What if the wayward political leaders of North Korea misjudge the situation and launch nuclear missiles at the South? What if they are reckless enough to cross the border and start another Korean War? Military experts claim that since the ROK Army is equipped with cutting-edge military technology, which is far superior to that of its cou
ViewpointsJan. 26, 2016
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LG Chem's operating profit jumps 40% on-year in 2015
Despite global economic woes last year, LG Chem saw its operating profit increase by 39.1 percent to 1.82 trillion won, compared to the preceding year, according to the firm’s annual earnings report released Tuesday. The company’s annual revenue, however, decreased to 20.21 trillion won, down 10.5 percent from the year before. The chemical and battery business affiliate of LG Group said in the earnings report that “Overall sales have decreased due to slow recovery of the global economy and oil
TechnologyJan. 26, 2016
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N. Korea should face consequences over nuke test
South Korea's point man on inter-Korean affairs said Tuesday the international community should be united in making North Korea "face consequences" by slapping stronger sanctions over its latest nuclear test."Through sanctions, the international community should clearly let North Korea know that it was wrong and it should not repeat such misbehavior," Unification Minister Hong Yong-pyo said at the start of a meeting with researchers from the U.S. Brookings Institution.The United Nations Security
North KoreaJan. 26, 2016
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Delayed U.S. license halts Korea's Taurus missile adoption
The U.S.' stalled decision over the export of a key GPS system is causing a major delay in South Korea's plan to introduce Taurus missiles by the end of this year, sources said Tuesday.The U.S. government is currently delaying its decision on whether to approve the export of a military GPS receiver for the local project to arm its fighter jets with the made-in-Germany air-to-surface missiles, military and defense procurement officials said.Any decision on the matter is expected to come after Aug
DefenseJan. 26, 2016
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SK Broadband unveils new mobile media platform
In response to the launch of video-streaming service Netflix in the Korean market earlier this month, SK Broadband, an Internet and pay TV services provider, has introduced a new mobile media platform. Called Oksusu, which is the Korean word for corn, it combines the firm’s on-demand mobile TV service Btv and video-streaming service Hoppin. The wholly owned subsidiary of SK Telecom said it would focus on making a wide range of video content available on the new platform. Oksusu will feature the
TechnologyJan. 26, 2016
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[Lee Jae-min] Ending 18 years of controversy
The 1997 indictment of a doctor was the turning point of how the medical fraternity and hospitals treat patients who are terminally ill and in coma with no prospect of recovery. The doctor involved agreed to release a patient from the hospital at the request of family members wishing for a peaceful final moment. When the patient subsequently died, the doctor was indicted and found guilty of aiding murder. What followed (naturally) was a strictly defensive reaction from doctors and hospitals.
ViewpointsJan. 26, 2016
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Yamaha Music Korea appoints new CEO
Yamaha Music Korea announced Tuesday that it has appointed Hideo Kaneda, former head of Yamaha's Taiwanese operations, as its new chief executive. The company expects its new CEO “to work not only for the expansion of Yamaha’s instrument business, which is its main focus, but also to nurture its burgeoning audio device segment” in Korea. Hideo Kaneda (Yamaha Music Korea) Hideo Kaneda first joined Yamaha in 1986. He later served as the sales director of the company’s Chinese operations from 200
IndustryJan. 26, 2016
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[Editorial] Speaker’s proposal
National Assembly speaker Chung Ui-hwa has come up with a proposal to amend the controversial law on parliamentary operation, which is widely regarded as the main culprit for the frequent parliamentary deadlocks. Under the current law, a bill can be put to vote in a plenary session of the National Assembly only after having been approved by three-fifths of the legislators on the relevant standing committee. The law also strictly restricts the power of the Assembly speaker to refer a bill direct
EditorialJan. 26, 2016
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N. Korea should face consequences over nuke test
South Korea's point man on inter-Korean affairs said Tuesday the international community should be united in making North Korea "face consequences" by slapping stronger sanctions over its latest nuclear test."Through sanctions, the international community should clearly let North Korea know that it was wrong and it should not repeat such misbehavior," Unification Minister Hong Yong-pyo said at the start of a meeting with researchers from the U.S. Brookings Institution.The United Nations Security
North KoreaJan. 26, 2016
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Earnings season kicks off amid gloomy outlook
The fourth-quarter reporting season kicked off Tuesday amid low expectations as Korea’s listed firms continue to suffer from sluggish exports and a global slowdown.This week, some 32 companies listed on the main KOSPI bourse are planning to report their results for the October-December period in 2015.Analysts have been constantly revising down their outlook amid a series of weak quarterly performance reports by major Korean companies despite their efforts to restructure operations throughout las
Jan. 26, 2016
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Samsung Bioepis likely to delay Nasdaq debut
Samsung Group’s biosimilars unit is likely to delay its public listing on the Nasdaq, originally scheduled for the first half of this year, industry sources said Tuesday. Samsung Bioepis, which develops biosimilars -- cheaper near-replicas of brand-name biologic drugs -- had sought to raise up to 2 trillion won ($1.7 billion) through the initial public offering to pour more resources into research and development activities. According to news reports and sources, however, the company is unlikel
IndustryJan. 26, 2016
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[Newsmaker] Deutsche Bank trader sentenced to jail
On Nov. 11, 2010, with just 10 minutes for the stock market to close in Seoul, three traders in Hong Kong dumped 2.4 trillion won ($2 billion) worth of Korean shares, triggering a 2.7 percent drop on the country’s main KOSPI index. The massive and coordinated sell-off by Deutsche Bank employees wiped out 28 trillion won in value from Korea’s equity market, but those involved in the transaction made a combined profit of 44.9 billion won through derivative positions they had arranged in advance. M
Jan. 26, 2016
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[Editorial] Dismissal guideline
The government’s controversial guidelines on general dismissals and rules of employment have gone into effect. As the two new guidelines make it easier for employers to lay off underperforming workers and amend employment regulations to put employees at a disadvantage, the government needs to step up oversight of labor practices at workplaces to prevent them from being abused. The government enforced the guidelines Monday after finalizing them Friday. The quick move reflects its determination to
EditorialJan. 26, 2016
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LG Display turns to net loss in Q4
South Korean panel giant LG Display Co. said Tuesday it swung to a net loss in the fourth quarter from a year earlier due to falling global panel prices.The net loss came to 13.5 billion won ($11.2 million) in the October-December period, compared to a profit of 389.2 billion won posted a year earlier, LG Display said in a regulatory filing. (Yonhap)Sales dropped 10.1 percent on-year to 7.49 trillion won in the fourth quarter, and its operating profit crashed 90.3 percent over the cited period t
TechnologyJan. 26, 2016
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Nonghyup promotes sales for lunar New Year
Nonghyup Hanaro Mart is offering discounts on various gift sets including fruits, meats, processed food, and toiletries for the Lunar New Year holidays until Feb. 7. Offering up to 30 percent discount, Nonghyup’s representative brands Achimmaru and Ddrane have fruit sets with prices ranging between 30,000 won ($25) and 100,000 won. Other gift sets that include toiletries are being sold at reasonable prices starting from 10,000 won, officials said. Red ginseng, which continues to be a hot gift it
IndustryJan. 26, 2016
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[SUPER RICH] Big Bang net worth 40b won
Popular K-pop boy band Big Bang is set to join the elite superrich club with an estimated total net worth of 40 billion won ($33.2 million). Moreover, it’s leader G-Dragon, also known as Kwon Ji-yong, has a personal net worth of 15 billion won.Big Bang (YG Entertainment)Confirming Big Bang’s road to success, the quintet’s LA concert at the Staples Center during their world tour last year was selected by Billboard as one of the top 10 grossing concerts in the world, earning a total of 2.1 billion
IndustryJan. 26, 2016
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Green Cross’ immunodeficiency drug accepted for review by U.S. FDA
An immunodeficiency drug developed by Green Cross, a South Korean biopharmaceutical company, has been accepted for review by the U.S. Food and Drug Administration.Green Cross said Tuesday that that FDA accepted the drugmaker’s biologics license application for IVIG-SN -- human normal immunoglobulin G for intravenous administration -- on Jan. 22.IVIG-SN (Green Cross)The news prompted the company’s stock price on the main Korean bourse KOSPI to surge by 2.01 percent on Tuesday to close at 228,000
IndustryJan. 26, 2016
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PM warns against 'illicit walkout'
Prime Mister Hwang Kyo-ahn on Tuesday vowed to take stern measures against a walkout by a major labor organization.The warning comes as the Korea Confederation of Trade Unions (KCTU), one of the country's two umbrella labor groups, was to go on an indefinite walkout in protest of the government's adoption of contentious labor guidelines."The KCTU's general strike is a clear illicit strike that goes against a difficult economic situation both home and abroad, crisis such as North Korea's nuclear
Social AffairsJan. 26, 2016
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Pleasure boat runs aground in Hangang River
A ship carrying 11 people ran aground on the Hangang River on Tuesday, but everyone was rescued safely, officials said. A cruise ship is being hauled after being stranded in the Hangang River on Tuesday. YonhapA salvage operation was underway after the 125-ton vessel run by Eland Cruise began to sink at about 2:30 p.m. near the Seongsu Bridge that links the Seongdong and Gangnam districts. The fire authorities said they rescued six passengers -- including three American and two Thai tourists -
Social AffairsJan. 26, 2016
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LG Electronics' net loss narrows in Q4
South Korean tech giant LG Electronics Inc. said Tuesday its net loss narrowed in the fourth quarter from a year earlier on strong sales of premium TVs and home appliances, despite a poor performance from its smartphone business.Net loss came to 140.4 billion won ($117 million) in the October-December period, compared with a deficit of 205.6 billion won during the same period in 2014, LG Electronics said in a regulatory filing.Sales shed 4.7 percent on-year to 14.5 trillion won, and operating pr
TechnologyJan. 26, 2016