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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AI textbook bubble could burst, expert warns
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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Man calls 119, found dead 1 week later because officials went to wrong place
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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Samsung tightens its belt amid crisis winds
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Microsoft put Windows to focus on tablet PCs
Faced with the looming demise of the PC era, the world’s largest software developer, Microsoft, has been shifting its focus toward operating systems for a wider variety of devices, including smartphones and game consoles.The company has been specifically targeting tablet PCs, which are expected to replace desktops and laptops in the coming years. Jang Hong-kook, the head of Microsoft Korea’s device partner business division, delivers a speech at a press meeting in Seoul on Thursday. (MS Korea)Pa
TechnologyDec. 3, 2015
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Korean police team launched for joint probe in Philippines
A special police team of 63 officers has been formed to help with criminal cases involving South Koreans in the Philippines as a bilateral effort to better protect Korean citizens there, officials said Tuesday.The National Police Agency said the special team, comprised of police officers and forensic experts, would be sent to Manila whenever Koreans are victims of crimes such as murder, kidnapping, robbery or rape. All are capable of speaking English, the authorities said.Public concerns have es
Social AffairsDec. 3, 2015
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[Rafia Zakaria] Fashion feminism and futility
Fashion Pakistan Week (not to be confused with Pakistan Fashion Week) was held recently with the usual fanfare that surrounds such undertakings; there were “red carpets,” there were live tweets, there were catwalks and models and glitz and glamour. Fashion houses, several of them led by the sisters, wives and daughters of this or that industrial tycoon, presented their “collections”; everyone beamed and glowed and was feted. There were French words like “pret” to add hauteur to the couture, ro
ViewpointsDec. 3, 2015
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More companies turn to make beauty products
More and more businessmen are rushing to cosmetics businesses, which are considered some of the very few cash cows in the stale domestic market. Mostly targeting Chinese and other Southeast Asian consumers who reportedly embrace “Made in Korea” beauty products and beauty regimes, from entertainment agencies to online retail outlets, pharmaceutical firms and even ceramics and tech companies are turning their heads to what they believe is the new El Dorado. According to the Ministry of Food and Dr
IndustryDec. 3, 2015
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[John Shattuck] Terrorists and refugee battleground
BUDAPEST — Europe and the United States should open their doors to Syrian and Iraqi refugees. They are the victims of the Islamic State and Syrian President Bashar al-Assad’s brutal regime. Terrorism has destroyed their homelands. Not only is offering them refuge the right thing to do; it is also good for our security. The Islamic State’s attacks in Paris in November were designed to produce fear by bringing the group’s crimes against humanity into the heart of Europe; and politicians, by equati
ViewpointsDec. 3, 2015
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More representative and robust SDR benefits all
A better internationalized Chinese currency and a more representative special drawing rights will definitely help deliver better economic and financial performance within and beyond China in the long run. The International Monetary Fund’s decision on Nov. 30 to include the renminbi in its SDR reserve currency basket from October next year ushers in a new era for the Chinese currency and the SDR. The renminbi joining the U.S. dollar, the euro, the pound and the yen in the SDR basket is signifi
ViewpointsDec. 3, 2015
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Airpocalypse now in China
With many of Beijing’s iconic and cultural landmarks erased by heavy, acrid smog on Dec. 1, the city’s residents lit up the Internet in a bid to commiserate with fellow sufferers, while others more enterprising found business opportunities under the murky skies. Some netizens turned to dark humor and satire to lighten the gloom of the city‘s worst pollution on record this year, while others expressed anger, frustration, cynicism and even resignation at the latest “Airpocalypse” to hit the city.
ViewpointsDec. 3, 2015
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China’s foray into aviation - sky is the limit
The Commercial Aircraft Corp. of China rolled out its first domestically built large passenger aircraft on Nov. 2. Called the Comac C919, the airliner will have to undergo tests before its first flight takes off next year. Experts see the rollout as China’s attempt to enter the booming global aviation industry and reduce dependence on Airbus and Boeing. Li Jiaxiang, the country’s civil aviation chief, said, “China’s air transport industry cannot completely rely on imports. A great nation must
ViewpointsDec. 3, 2015
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China’s steel mills need to shrink
In the space of 30 years, China has become the world’s largest steelmaker by a long margin. Decades of rapid economic growth fed huge demand for infrastructure and housing, all of which required massive volumes of steel. As the Chinese economy slows, however, all that capacity is proving a burden both economically and environmentally. Chinese steelmakers churned out 822 million tons of steel last year, losing an average of $50 on every ton. Meanwhile, their outmoded, polluting plants account for
ViewpointsDec. 3, 2015
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Fubon becomes 2nd-largest shareholder of Hyundai Life
Taiwan-based Fubon Life has invested 220 billion won ($189.2 million) for a 48 percent stake in Hyundai Life Insurance, becoming the Korean insurer’s second-largest stakeholder after Hyundai Motor Group, the company announced ThursdayHyundai expects mutual benefits from the alliance, particularly in asset management, product development and risk management, as Fubon has deployed four of its managers to its headquarters.Twenty managers, including top executives shared their business strategies an
IndustryDec. 3, 2015
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[Editorial] Reform bills
Under the law governing the operations of the National Assembly, the ruling Saenuri Party cannot pass bills through the Assembly without the assent of the main opposition New Politics Alliance for Democracy. This rule has given the NPAD undue power in operating in the Assembly. So the ruling party has brought the law before the Constitutional Court, claiming it is unconstitutional as it runs against majority rule, the first and foremost principle of democracy. Yet the positions of the two parti
EditorialDec. 3, 2015
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[Editorial] Yuan center
The International Monetary Fund’s decision earlier this week to add the Chinese currency to its reserve currency basket is expected to benefit Korea in the long term, but it poses policy challenges to Korea’s financial authorities. The IMF has agreed to give the yuan a weighting of 10.92 percent in the basket of currencies that make up the Special Drawing Rights, making it the world’s third-biggest reserve currency following the dollar and euro. The decision is a momentous event for China. It i
EditorialDec. 3, 2015
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Shipbuilders' new orders dip to 6-year low in Nov.
South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, while Chinese rivals scooped up a large slice of contracts, industry data showed Thursday. According to the data compiled by global researcher Clarkson Research Services, South Korean shipyards bagged new orders totaling 79,834 compensated gross tons last month, the lowest since September 2009. In contrast, Chinese shipbuilders received 1.46 million CGTs worth of new ord
IndustryDec. 3, 2015
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Tighter criteria for new mortgage loans to go into effect next year
South Korea's top financial regulator said Thursday that it will unveil a tighter mortgage loan screening system later this month in a bid to tackle the mounting household debt in the face of a potential U.S. rate hike. Household credit totaled a fresh record of 1,166.4 trillion won ($1.01 trillion) as of end-September, up from a revised 1,131.5 trillion three months earlier, according to the latest central bank data. The third-quarter figure marks the highest level since the central bank began
Dec. 3, 2015
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Seoul shares down 0.76% after Fed chief's remarks
South Korean stocks retreated 0.76 percent Thursday as U.S. Federal Reserve Chair Janet Yellen reinforced expectations of an interest rate hike later this month. The local currency fell against the U.S. dollar for the third consecutive day. The benchmark Korea Composite Stock Price Index lost 15.22 points to 1,994.07. Trade volume was slim at 360.92 million shares worth 3.17 trillion won ($2.72 billion), with losers outpacing gainers 475 to 333. Analysts said investors remain cautious ahead o
Dec. 3, 2015
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Chinese ambassador hails progress in ties with Korea
China's top envoy to Seoul on Thursday hailed the progress in bilateral ties, citing close cooperation in politics, the economy and people-to-people exchanges. Amb. Qiu Guohong said the two countries have entered into an era of "three highs" marked by political trust, economic cooperation and cultural exchange. "Looking back on the development of China-South Korea relations this year, there truly was a lot of success," he said in his congratulatory remarks at a forum held among state-run resea
InternationalDec. 3, 2015
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Police to ban another massive rally
Police said Thursday that they have decided to prohibit civic groups from staging a massive rally in downtown Seoul this weekend, as it appears to be led by the same groups who were in charge of last month's violent protest. In mid-November, tens of thousands of demonstrators took to the streets in downtown Seoul to protest the government's decision to adopt state history textbooks for secondary students and reform the labor market. The rally later turned violent as some protesters brandished m
Social AffairsDec. 3, 2015
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Court says gov't not liable for Tongyang investors
A local court on Thursday dismissed a damage suit filed against the government by investors who were deceived into buying fraudulent debt products. The Seoul Central District Court dismissed the suit filed by a total of 364 Tongyang investors seeking 1 million won ($920) each in compensation from the Financial Supervisory Service and the government. The plaintiffs claim the agency failed to take proper action despite its knowledge of the dubious nature of debt products sold by Tongyang Securi
IndustryDec. 3, 2015
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Parliament approves 3.6% increase for 2016 defense budget
The National Assembly approved Thursday a 3.6 percent increase in the defense budget for next year to boost the number of military conscripts and improve the quality of life at barracks, according to the Ministry of National Defense. The increase put the country's defense budget for 2016 at 38.8 trillion won ($33.2 billion). It was, however, less than the 38.96 trillion-won budget the government proposed for 2016. In the early hours of Thursday, the National Assembly approved a total 386.4 t
PoliticsDec. 3, 2015
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Japan denies reports suspecting Korean link to war shrine blast
Japanese law enforcement officials have denied news reports that cast suspicion on a South Korean national for a recent explosion at a Tokyo war shrine, police said Thursday. Japanese police have not yet identified the suspect who caused the blast at the Yasukuni Shrine on Nov. 23, and thus do not have a plan to collaborate with South Korean authorities, an official from the National Police Agency said, quoting a Japanese official. There has been speculation from Japanese news media that a man
InternationalDec. 3, 2015