Most Popular
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Yoon warns North Korea against nuclear attack attempt
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81-year-old model awarded ‘best dressed’ in Miss Universe Korea
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Seoul mayor suggests shift in immigration policy
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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'Smart pill'? ADHD treatment prescriptions spike this year
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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Israel targets Palestinian group in first strike on Beirut center
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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Man calls 119, found dead 1 week later because officials went to wrong place
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Court rules Itaewon tragedy was 'foreseeable'
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Trade, environment must go hand-in-hand
Concerns about the impact of global trade and growth on environmental protection and sustainability, and vice versa, are longstanding and not without cause. Yet, the advancement of these 21st-century development priorities is not an “either-or” proposition. To the contrary, they can and must go hand-in-hand. The fight against climate change exemplifies the significant role that greater interconnectivity of people and markets, and trade between them can play in fostering a more prosperous, secure
ViewpointsDec. 21, 2015
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Indonesia’s brand-new anticorruption body
Indonesia’s House of Representatives has opted for new faces over figures with proven track records to lead the Corruption Eradication Commission (KPK), the vanguard in the country’s fierce fight against graft, for the next four years. It’s therefore understandable if doubts loom over the prospects of the war on entrenched corruption, which this nation has not yet won, or, in the eyes of pessimists, has already lost. On Thursday, members of the House’s Commission III overseeing legal affairs el
ViewpointsDec. 21, 2015
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Korea to dispatch police to Philippines for Korean national's murder case
Police said Monday they will send four officials to the Philippines to investigate a recent shooting death of a South Korean man, the first move to probe into overseas crimes targeting Korean nationals.A 57-year-old South Korean, identified only by his surname Cho, was shot to death by four unidentified armed assailants on Sunday at his house in Batangas, some 100km south of Manila, according to the police.Cho, who had been engaged in the construction business in the Philippines for about two de
Social AffairsDec. 21, 2015
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Park vows to cultivate bio industry
President Park Geun-hye vowed efforts to cultivate the local bio industry Monday, saying it will serve as a new growth engine for the country in the future "The government plans to continue strengthening its support to develop the bio-medicine industry as the core industry that spurs growth in our economy through drastic deregulation, continuous research and development as well as human resources," Park said.The remarks were made during a groundbreaking ceremony by Samsung Group's pharmaceutical
PoliticsDec. 21, 2015
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Park taps ruling party lawmaker as new finance minister
The nominee to lead South Korea's economy vowed Monday to take preemptive steps to help overcome the current economic difficulties."We should fully brace for" for things that are similar to the situation of the financial crisis that hit South Korea in 1997, Yoo Il-ho told reporters shortly after being tapped by President Park Geun-hye to be in charge of government policy on Asia's fourth-largest economy.Yoo, a lawmaker of the ruling Saenuri Party, also pledged to maintain consistent implementati
PoliticsDec. 21, 2015
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Seoul shares up 0.3% on Moody's rating upgrade
South Korean stocks gained 0.3 percent on Monday as Moody's upgrade of the nation's credit rating boosted investor sentiment here, defying renewed worries over a global oil glut. The local currency also strengthened against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 5.84 points to 1,981.16. Trade volume was thin at 532.53 million shares worth 2.68 trillion won ($2.27 billion), with winners beating losers 434 to 374.Investor sentiment was lifted after Moody's Investors
Dec. 21, 2015
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Biz groups pressure parliament to pass labor bills
South Korea's major business groups on Monday called for the parliament to pass labor bills within next week, adding that the prolonged legislative impasse could hamper their efforts to create more jobs and boost the economy. Five business lobbying groups, including the Federation of Korean Industries and the Korea Chamber of Commerce and Industry, said a bipartisan deal is urgent to draw up business plans and adopt reform measures in workplaces.In September, labor, management and the government
PoliticsDec. 21, 2015
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Ex-transportation minister to take charge of economic policy
A former transportation minister and ruling party lawmaker will take control of the country's economic policymaking as Asia's fourth-largest economy strives to gain growth momentum in the new year. Yoo Il-ho, who won two terms in Seoul's Songpa district in 2008 and 2012, and was the country's Minister of Land, Infrastructure and Transport this year, has been named the new finance minister.He will be tasked with getting the economy back on its feet, as its growth falters in the face of weak expo
PoliticsDec. 21, 2015
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Bidding for Daewoo Securities ends
Four entities have placed bids to buy the country's second-largest brokerage house Daewoo Securities Co. in a deal that could be a possible game changer for at least three of the four prospective buyers, informed sources said Monday.The prospective buyers are KB Financial Group Inc., the largest banking giant by assets; the country's leading asset management expertise firm Mirae Asset Group; Korea Investment Holdings Co.; and the employee stock ownership association led by Daewoo's labor union.T
IndustryDec. 21, 2015
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Korea, China agree to expand cooperation in carbon trading
South Korea and China agreed Monday to expand their cooperation on emissions trading that includes joint efforts to link the countries' carbon trading markets, Seoul's carbon trading market operator said.The Korea Exchange, also the country's bourse operator, said it signed a memorandum of understanding for cooperation with China Beijing Environment Exchange.Under the agreement, the sides will exchange market information and share their experience."They will also work together toward market link
Dec. 21, 2015
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Korea inspects pilot system of local T-50 trainers
South Korea said Monday it was looking into the pilot-related system of its T-50 trainer aircraft following the crash of a jet in Indonesia over the weekend.Two pilots were killed in a crash on Sunday of the plane South Korea exported to Indonesia, during an air show celebrating the 70th anniversary of Indonesia's flight school in Yogyakarta, a tourist city on the main island of Java. While the Indonesian defense ministry is investigating the cause of the crash, South Korea is conducting its own
DefenseDec. 21, 2015
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KT&G launches The One Gold Label
The One Gold Label (KT&G)KT&G, the country’s largest tobacco-maker by market share, on Monday launched the premium edition of its The One brand with micro charcoal filters. Dubbed “The One Gold Label,” the new edition applies triple-layered micro charcoal filters that maximize the clean finish, in addition to premium quality tobacco leaves, the tobacco-maker said in a press release. The gold label came after three years of research and development, targeting demand for premium cigarettes, KT&G
IndustryDec. 21, 2015
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Korea, Israel to provide $4 mln in R&D funding to SMEs
South Korea and Israel will provide $4 million in research funds to small and medium enterprises in 2016 to promote close economic cooperation, the government said Monday.The Ministry of Trade, Industry and Energy said Seoul and Tel Aviv will each foot $2 million to support joint projects by SMEs from the two countries.The money will be used in areas like electronics, machinery, biotech and renewable energy. Companies picked can expect upwards to three years of support with maximum funding set a
Foreign AffairsDec. 21, 2015
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Ahn to create new party by February
Ahn Cheol-soo, former co-chairman of the main opposition party, said Monday that he plans to launch a new political party by early February for April's general elections."I plan to show the details of the new party before the Lunar New Year holiday in February," Ahn told reporters at the National Assembly. The holiday falls on Feb. 8.Ahn, who co-led the main opposition New Politics Alliance for Democracy last year, announced his departure earlier this month following internal strife with incumbe
PoliticsDec. 21, 2015
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Rival parties' approval ratings mixed
The ruling party's approval rating has edged down, while the main opposition party has gained some support, following the high-profile departure of former opposition party chief, a poll showed Monday.The poll released by polling agency Realmeter showed 40.2 percent of people approved last week of the job that the ruling Saenuri Party is doing, down 2.1 percentage points from a week earlier. Meanwhile, the poll put the New Politics Alliance for Democracy's approval rating at 29.3 percent, up 2.4
PoliticsDec. 21, 2015
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Seoul shares down 0.08% in late morning trade
South Korean stocks traded 0.08 percent lower late Monday morning on subdued investor sentiment following Wall Street's sharp losses on Friday, despite the upgrade of the country's rating by Moody's. The benchmark Korea Composite Stock Price Index inched down 1.5 points to 1,973.82 as of 11:20 a.m.Shares gained ground in early morning trading after Moody's Investors Service on Saturday upgraded South Korea's credit rating one level to Aa3, citing its prudent fiscal stance, but foreign-led sellin
Dec. 21, 2015
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Seoul dismisses Pyongyang claim on joint tour program
South Korea rebutted North Korea's claim Monday that it had already promised to guarantee the safety of South Korean visitors in a joint tour program years earlier, saying that the issue remain unresolved.Since 2008, the South has halted an inter-Korean tour program at Mount Kumgang on the North's east coast following the shooting death of a South Korean tourist by a North Korean soldier.Seoul has called on Pyongyang to admit to its responsibility, guarantee the safety of South Korean visitors t
North KoreaDec. 21, 2015
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Korean household debt rises in 2015: data
South Korean household debt rose in2015 from a year earlier as people with high incomes moved to buy homes, government data showed Monday.According to Statistics Korea, the average household was 61.81 million won ($52,500) in debt as of late March of this year, up2.2 percent compared to the year before. Of the total, 69.9 percent, or 43.21 million won, was financial loans, up 4.9 percent on-year, with the rest in security deposits that must be paid back down the line.Data showed that 64.3 percen
Dec. 21, 2015
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Korea to expand civilian supervision of arms contract
South Korea will push to expand civilian supervision of the defense procurement industry, the Defense Ministry said Monday, in a major bid to reform the corruption-prone sector.Former Joint Chiefs of Staff Chairman Choi Yoon-hee is to stand trial on corruption charges in connection with the military's acquisition of AW159 Wildcat helicopters.Choi is among current and retired military officials indicted by a special investigative team on graft cases involving arms dealings. The task force was lau
DefenseDec. 21, 2015
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Samsung breaks ground for 3rd bio factory in Korea
Samsung BioLogics Co., a pharmaceutical arm under South Korea's top conglomerate Samsung Group, said Monday that it will build its third production line in the country by 2017, as part of an effort to focus on securing a new growth engine.Under the plan, Samsung BioLogics will invest 850 billion won ($721 million) to build the facility in Songdo, west of Seoul, which will make the firm the world's top contract manufacturing organization.The new facility will boast an annual production capacity o
IndustryDec. 21, 2015