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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'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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Man calls 119, found dead 1 week later because officials went to wrong place
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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AI textbook bubble could burst, expert warns
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Fights, complaints, stalker fans among reasons passengers exit planes before takeoff
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[Photo News] Armed Forces Day
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Kumho classical stars dominate competitions
Following this year’s Kumho Art Hall Rising Star series participant Christel Lee’s victory at the International Jean Sibelius Violin Competition earlier this month, the series’ musicians are continuing to snag international accolades. Supported by the Kumho Asiana Cultural Foundation, the “Kumho musicians” dominated this year’s 9th International Tchaikovsky Competition for Young Musicians in Novosibirsk, Russia, Tuesday, taking home first place for both violin and piano. Violinist Kim Dong-hyun
PerformanceDec. 16, 2015
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[Bernard-Henri Levy] The French rally to the republic after far-right scare
Before the second round of France’s regional elections on Sunday, most predictions suggested that five, perhaps six, of the country’s regional governments would fall into the hands of the National Front (FN). But the French people pulled themselves together and turned out to vote in much greater numbers than anyone expected. The result is that a xenophobic, racist party, one hostile to everything essential to the spirit and greatness of France, was defeated in all of the contests that it was sup
ViewpointsDec. 16, 2015
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[Editorial] Jejudo and Sydney
Land and apartment prices on Jejudo Island have shot up in the wake of active Chinese investments in the nation’s smallest province over the past few years. The island, with an area of about 1,850 square kilometers, is similar in size to Hongcheon-gun — one of the 11 major districts in Gangwon Province. It is less than 10 percent of the size North Gyeongsang Province. As a result, it is natural to see a spike in property prices in the wake of aggressive purchases by investors from China, along w
EditorialDec. 16, 2015
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Stiglitz’s sticky prices give lessons on unemployment
For a long time, the assumption underlying much of mainstream economics was that the invisible hand worked its magic seamlessly. Prices moved smoothly up as demand outpaced supply and rushed back down when the tables were turned, keeping markets in equilibrium. To be sure, many observers realized the truth was actually quite different — that prices, and wages and interest rates in particular, were often sticky, and that this sometimes prevented markets from clearing. In labor markets, this meant
ViewpointsDec. 16, 2015
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Cruz taps into disaffected conservatives’ anger
All year long, smart Republicans have been whispering: Keep a close eye on Ted Cruz. He’s got a message that appeals to the party’s most conservative voters. He’s running a good campaign, well organized and well funded. He’s going to be a finalist — and he might just win the nomination. Well, what do you know: Right on schedule, as voters in Iowa settle on their favorites, Cruz’s fortunes are looking up. A Monmouth University poll released last week found Cruz in first place among Iowans who are
ViewpointsDec. 16, 2015
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In Myanmar, malaria brings political changes
Myanmar is emerging from 50 years of isolation and military rule slowly. Even after the victory of the pro-democracy party in November elections, the country is fragile and fragmented. The military still holds much political power. The country is struggling with entrenched poverty. Decades of ethnic and regional warfare have left Myanmar with more armed groups than there are candidates in the U.S. Republican presidential primary. What could improve this situation? Maybe malaria. Last summer in W
ViewpointsDec. 16, 2015
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China hands over swindler's right-hand man to Korea
Prosecutors said Wednesday that they have received the right-hand man to the mastermind behind South Korea's largest pyramid scheme from Chinese authorities. Prosecutors said they plan to take Kang Tae-yong to their office in the southeastern city of Daegu for questioning after he arrives from the eastern Chinese city of Nanjing. The extradition came two months after South Korea asked China to arrest Kang who faces nearly 30 charges, including embezzlement and fraud. Kang is accused of swindl
Social AffairsDec. 16, 2015
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IKEA to open five more stores in S. Korea by 2020
Swedish furniture giant IKEA said Wednesday it will invest 1.2 trillion won ($1.01 billion) to build five more stores in South Korea by 2020, buoyed by the success in its inaugural store in suburban Seoul. IKEA opened its largest store in the world in Gwangmyeong, just southwest of Seoul, posting 308 billion in sale since its launch a year ago. About 6.7 million visitors have passed through the doors at the store, located less than an hour's drive or 14 minutes by bullet train from central S
IndustryDec. 16, 2015
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Opposition party chief offers apology over ex-chief's departure
The leader of the main opposition party offered an apology Wednesday for the departure of former co-chairman Ahn Cheol-soo as he vowed to reform the embattled party. "I feel sorry as the leader of the main opposition party," Moon Jae-in said during a meeting of senior party members. The comments came three days after Ahn, who co-led the main opposition New Politics Alliance for Democracy last year, announced his departure following internal strife with Moon. Ahn had called for the resignation
PoliticsDec. 16, 2015
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Korea's sea level up 10 cm in 40 years: data
The sea level around South Korea has risen about 10 centimeters in the last 40 years, a clear sign of global warming impacting the environment, the country's hydrographic administration said Wednesday. According to the Korea Hydrographic and Oceanographic Administration, which has kept tabs on mean sea levels over the years, the rise is linked to the melting polar ice caps, blamed on the warming of water temperatures. The organization added that natural erosion by waves and wind and the develop
Social AffairsDec. 16, 2015
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Ssangyong E&C bags $1.6 bln construction deals in Dubai
Ssangyong Engineering & Construction Co., a South Korean builder, said Wednesday it has clinched $1.6 billion worth of orders to construct a luxury hotel, as well as apartment and office buildings, in Dubai. Ssangyong E&C said that it will lead the construction of a 47-story hotel and a 37-story apartment building in Palm Jumeirah for $840 million, a contract secured from the Investment Corporation of Dubai, a local sovereign wealth fund. In a separate deal inked with a subsidiary of the ICD
IndustryDec. 16, 2015
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Seoul shares up 1.6% in late morning trade
South Korean stocks surged 1.63 percent late Wednesday morning as investors picked up battered blue chips amid hopes for eased woes on an imminent rate hike in the U.S. The benchmark Korea Composite Stock Price Index added 31.57 points to 1,964.54 as of 11:20 a.m. The U.S. Federal Reserve is widely expected to raise its target rates for the first time since June 2006. Overnight, the Dow Jones industrial average and the Nasdaq index surged 0.9 percent, each. Local stocks traded bullish a
Dec. 16, 2015
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Low-cost mobile carriers expand presence in Korea
South Korea's ICT Ministry said Wednesday mobile virtual network operators accounted for more than 10 percent of the local mobile market as of November, amid the booming popularity of budget handsets in the country. According to the data compiled by the Ministry of Science, ICT and Future Planning, the number of users subscribing to MVNO's service plans came to 5.84 million as of end-November, taking up 10.1 percent of the country's 57.78 million subscribers of mobile networks. MVNOs refer to
IndustryDec. 16, 2015
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Park calls for economic contingency plan
President Park Geun-hye called for an economic contingency plan Wednesday to brace for a possible crisis, citing potential instability in emerging countries. She also said South Korea's economy could face uncertainty if a potential Fed rate hike increases fluctuations in international financial markets. "We should put our economy back on track to ensure people can feel economic recovery next year," Park said in a meeting with officials about next year's economic policy. (Yonhap)
PoliticsDec. 16, 2015
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‘Proud’ Saudi women win seats
RIYADH (AFP) ― At least 14 women won municipal council seats in Saudi Arabia’s first ever election open to female voters and candidates, officials said Sunday, far exceeding expectations in the ultra-conservative kingdom.“Even if it was only one woman, we’re really proud of that. Honestly, we weren’t expecting anyone to win,” said Sahar Hassan Nasief, a women’s rights activist in the Red Sea city of Jeddah.But with 2,106 seats up for election in Saturday’s polls, the 14 women will comprise less
World NewsDec. 16, 2015
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Economic policy directions for 2016 unveiled
The government Wednesday disclosed 2016 economic policy directions aimed at revitalizing the economy by boosting domestic demand and strengthening support for exporters.It expected Korea’s gross domestic product to grow by 3.1 percent in real terms next year, a modest improvement from this year’s growth, which is estimated to reach 2.7 percent.(Yonhap)Under the policy directions finalized at a meeting of economy-related ministers, drastic deregulation will be pursued to help promote private-sect
Dec. 16, 2015
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‘Long way’ to reforms, but Saudi vote a start for women
RIYADH (AFP) ― The election of at least 20 women to local councils in Saudi Arabia for the first time could indirectly lead to longer-term reforms in discriminatory policies, activists said Monday.They said Saturday’s vote in the ultraconservative Islamic kingdom is a step toward improving the rights of the Gulf nation’s roughly 10 million females.But it will not directly help end a ban on women driving ― the only prohibition of its kind in the world ― or the “guardianship” system, they said.Mal
World NewsDec. 16, 2015
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BOK cuts inflation target for 2016-2018
South Korea's central bank said Wednesday it set the country's annual inflation rate at an average 2 percent over the next three years, sharply lower than the current target band, calling it an optimal target to support growth while also ensuring stability. "The inflation target has been set after considering recent movements in the country's underlying inflation, optimal inflation level and outlook on future consumer prices," the Bank of Korea said in a press release, adding the target rate ha
Dec. 16, 2015
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Korea's 2016 economic policy plans
The following are key economic policy plans unveiled by the finance ministry on Wednesday for 2016. The measures are centered on fueling the country's growth momentum and reaping the rewards of economic innovation undertaken in the past three years.▲Economic forecasts - Annual growth forecast downgraded from 3.3 percent to 3.1 percent in 2016 to reflect economic uncertainties, and weaker-than-expected growth in global trade that can hurt industrial production, consumption and investment. Growt
Dec. 16, 2015
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Korea to focus on fueling economic recovery momentum in 2016
South Korea will focus on fueling economic recovery momentum in 2016 and strive to push forward meaningful reforms as it moves past a disappointing year full of difficult challenges, the government said Wednesday. In its 2016 economic directives, the finance ministry made clear it will push forward policies that can prop up growth in the short term and improve the overall competitiveness of Asia's fourth largest economy down the line. It said 2016 will also be the year that reform measures pu
Dec. 16, 2015