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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AI textbook bubble could burst, expert warns
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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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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Korea elected as IMO's Category A member for 8th term
South Korea has been elected to serve the Category A group of the International Maritime Organization for the eighth straight term, solidifying the country's status as a global leader in seafaring affairs, the government said Monday.The Ministry of Oceans and Fisheries said the assembly of the United Nations agency, which convened in London late last week, picked South Korea as one of the 10 council members of the Category A group, which are countries with the largest interest in providing inter
Foreign AffairsNov. 30, 2015
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Korean housing market forecast to slow in 2017
South Korea's housing market is expected to begin losing steam from 2017, foreign investment banks said Monday, amid growing concerns over an oversupply. "After reaching its peak next year, the local housing market will likely turn bearish starting the following year due to an excessive supply and the authorities' tightened regulations on mortgages to curb the record household debt," Credit Suisse Group was quoted as saying by the Korea Center for International Finance.Household credit soared to
Nov. 30, 2015
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North Korean leader presumed to have watched SLBM test: Seoul spy agency
South Korea's spy agency said Monday that North Korea's leader is believed to have observed the recent botched launch of a ballistic missile from a submarine in the waters off the country's east coast.The National Intelligence Service told lawmakers that North Korea test-fired the submarine-launched ballistic missile at around 2 p.m. on Saturday in waters off the east coast port city of Wonsan, but the launch was viewed as a failure as the missile's trajectory could not be tracked.The agency sai
North KoreaNov. 30, 2015
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Police to take strong measures against rally
Police said Monday they will sternly deal with violent protesters, referring to a massive rally planned for this coming weekend, setting the stage for another clash.The remarks came after an association of liberal civic groups vowed to go ahead with the rally in central Seoul on Dec. 5, despite a prohibition order from the police.Police said they will use colored sprays to filter out violent demonstrators, making it easier to arrest them on the spot and deter the protest from becoming violent."(
Social AffairsNov. 30, 2015
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Seoul shares plunge 1.82% on China rout
South Korean stocks plunged 1.82 percent Monday as investors dumped techs, brokerages and other large caps, dismayed by extended losses in China, analysts said.The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 37.02 points to 1,991.97. Trade volume was moderate at 438.6 million shares worth 6.37 trillion won ($5.5 billion), with losers outpacing gainers 623 to 204.The drop is the sharpest since Sept. 23, when the index fell 1.89 percent. "An ext
Nov. 30, 2015
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Kakao Bank poised to set sail in 2nd half of next year
Kakao Bank, an Internet-only bank consortium led by Kakao Corp., said Monday that it is planning to begin operations in the second half of next year to lead the unprecedented market by making use of its millions of mobile chat application users.Along with the K-Bank team headed by KT Corp., South Korea's largest fixed-wire provider, Kakao Bank won a preliminary license to launch the country's first direct banks on Sunday.The bidders are required to apply for official approval from the Financial
IndustryNov. 30, 2015
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Psy’s new MV is 100% going to go viral
A captured image from Psy's "Daddy" music video. (The Korea Herald)Psy released music videos for his long-waited seventh album “Chiljip Psy-da,” and we think this is going to go viral worldwide, and live up to the “Gangnam Style” fame. During a press conference held in Seoul on Monday, Psy unveiled music videos to “Napal Baji” and “Daddy,” both of which have a bouncy techno beat and a wacky mix of Korean and English lyrics. The album title plays on the name of a popular beverage in South Korea,
PerformanceNov. 30, 2015
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Kyobo Life chairman donates W2b to youth job fund
Kyobo Life Insurance chairman Shin Chang-jae (Kyobo Life Insurance)Kyobo Life Insurance chairman Shin Chang-jae vowed to donate 2 billion won ($1.7 million) out of his own pocket to a government-led youth job fund, the company said on Monday. Shin’s donation comes after 1,824 Kyobo Life Insurance officials collected about 200 million won for the Youth Hope Fund. “The officials joined hands to help the young job seekers, the future of this nation, to overc
Nov. 30, 2015
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Korea to float yuan-based FX bonds in China within the year
South Korea will issue yuan-denominated foreign exchange stabilization bonds in China within the year to better meet rising demand for the Chinese currency and help local firms do business in the world's No. 2 economy, a government source said Monday.According to the finance ministry source, the government expects to get permission from the People's Bank of China so it can sell the bonds in December."The government is weighing the time for the sale, by checking financial market conditions," the
Nov. 30, 2015
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LG Uplus calls SK Telecom's takeover of broadcaster 'illegal'
LG Uplus Corp., South Korea's smallest mobile carrier, said Monday that the latest takeover of a local broadcaster by its bigger rival SK Telecom Co. is "illegal," claiming that the move will distort the market order.Earlier this month, top mobile carrier SK Telecom struck a deal to buy CJ Hellovision, the country's biggest operator of cable channels and Internet TV content in a bid to tap into the media platform business. "(SK Telecom's) move to monopolize the broadcasting and telecom industry
IndustryNov. 30, 2015
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Rise in industrial lending quickens in Q3
South Korean banks' industrial loans continued to rise in the third quarter with their growth pace also quickening from three months earlier, central bank data showed Monday.Outstanding bank loans to local companies came to 931.8 trillion won ($804.87 billion) at the end of September, up 6.8 percent from a year earlier, according to the data from the Bank of Korea.From three months earlier, the amount increased by 20 trillion won, quickening from a 12.3 trillion won rise in the April-June period
Nov. 30, 2015
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Seoul urges Pyongyang to stop raising tension on peninsula
South Korea called on North Korea Monday to stop flaring up tension on the Korean Peninsula as the North has continued to condemn South Korean military activity ahead of planned high-level inter-Korean talks.The North has blamed the South for dampening the conciliatory mood on the peninsula, citing the South's military activities, including planned field tactical training."We called on North Korea to stop its condemnation of our military activity in the western area and raising unnecessary tensi
North KoreaNov. 30, 2015
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Korean won to further fall against greenback in 2016: experts
The South Korean currency is likely to further lose ground against the U.S. dollar next year should the Fed raise interest rates in December as expected, experts said Monday.But the dollar may not be as strong as it is this year as the effects of the potential rate hike would fade away soon, they noted.Five major brokerage houses have forecast the South Korean currency to trade at an average of 1,192.60 won to the greenback in 2016. The local currency ended at 1,153 won against the U.S. dollar a
Nov. 30, 2015
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Korea's nuclear power reliance 4th-highest worldwide: report
South Korea's reliance on nuclear power is the fourth-largest in the world while its use of renewable energy ranks near the bottom, a report showed Monday.According to the World Factbook by the U.S. Central Intelligence Agency, Asia's fourth-largest economy possessed a total installed power generation capacity of 94 gigawatts, placing it 13th in the world. The country's annual electricity generation output stood at 517 terawatts placing it 11th, while it ranked 10th in terms of consumption at 48
DefenseNov. 30, 2015
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North Korea's SLBM development, test violate U.N. resolutions: Seoul
North Korea's continuing development and test-launch of submarine-launched ballistic missiles constitute a violation of United Nations resolutions, the Defense Ministry said Monday, following the North's reported SLBM launch over the weekend.A South Korean government official said North Korea fired a KN-11 missile from a submarine in the East Sea on Saturday afternoon, but the SLBM failed to leave the water. The remarks indicate the country has yet to master the SLBM technology since its first
North KoreaNov. 30, 2015
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Seoul shares down on China shock
South Korean stocks traded sharply lower late Monday morning as investors were spooked by a plunge in the Chinese market late last week. The benchmark Korea Composite Stock Price Index dropped 31.05 points, or 1.53 percent, to 1,997.94 as of 11:20 a.m.Most blue chips traded lower, with tech and brokerage companies among marked decliners. Samsung Electronics fell nearly 3 percent, while panel maker LG Display lost 1.75 percent. Samsung Securities also shed 2.2 percent. On Friday, the Shanghai Com
Nov. 30, 2015
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We must prepare now for another major El Nino
The latest cyclical warming of Pacific Ocean waters, first observed centuries ago and formally tracked since 1950, began earlier this year and has already been felt across Asia, Africa and Latin America.Weather experts predict this El Nino will continue into the spring of 2016 and could wreak havoc, because climate change is likely to exacerbate the intensity of storms and flooding in some places and of severe drought and water shortages in others.El Nino’s impacts are global, with heavy rain an
ViewpointsNov. 30, 2015
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Former pop idol charged with fraud
Prosecutors said Monday they have indicted a once popular South Korean pop idol for not paying back over 100 million won ($86,200) that he borrowed for business purposes.The Seoul Central District Prosecutors' Office said Lee Sang-woo, better known by his stage name Lee Ju-no, is suspected of not paying off a total of 165 million won he borrowed from two acquaintances between December 2013 and January 2014.The 48-year-old told the creditors he would pay the money back in few days but failed to d
Social AffairsNov. 30, 2015
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World leaders in Paris for climate-rescue summit
World leaders launch a whirlwind day of talks in the French capital on Monday aimed at forging an elusive agreement to stave off calamitous global warming.The summit kicks off nearly a fortnight of talks intended to end two decades of international bickering with a pact that would limit emissions of the greenhouse gases blamed for climate change.Negotiators have vowed to forge an ambitious deal to honour the 130 people killed in the November 13 bombing and shooting attacks that shook the French
World NewsNov. 30, 2015
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Hyundai, Kia see China sales steadily rebound from slump
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their sales in China steadily rebound from a months-long slump, as they strive to make up for early losses with deep price cuts and ramped-up marketing efforts, industry data showed Monday.Hyundai Motor and Kia Motors, South Korea's top two automakers, sold a combined 156,575 units in China last month, up 4.7 percent from the same month a year earlier.The sales represented 8.9 percent of total market demand in October, up from the
MobilityNov. 30, 2015