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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Sewol committee’s plan to probe president sparks controversy
Controversy escalated Tuesday over an independent investigative committee’s decision to track President Park Geun-hye’s whereabouts on the day the ferry Sewol sank last year, with Cheong Wa Dae and the ruling party lashing out at the panel for politicizing the issue. On Monday, the Sewol Special Investigation Committee said it would look into how Cheong Wa Dae reacted to the emergency and what Park was doing for seven hours after the doomed ferry began to sink off the nation’s southwestern coast
PoliticsNov. 24, 2015
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[Kim Seong-kon] Korean Air and a miracle at JFK
Recently, I went to the United States on a business trip. I had a tightly packed schedule, with stops in five cities, and as many as five connecting flights in eight days, including a cross-country flight from the West Coast to the East Coast. My staff, who had planned the trip, must have felt that I thought I was still in my prime. Anyway, not only did I survive the relentless itinerary with a Spartan-like resolve but also went through incredible adventures during my sojourn in America. Initi
ViewpointsNov. 24, 2015
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A family legacy in photography
Lim Seok-je, born in 1918, was one of the first professional photographers in Korea. He shot local life and landscapes with a candid, yet subjective perspective that earned him recognition as a first-generation fine art photographer. His nephew Lim In-sik, two years younger than him, documented war scenes as a military photographer during the Korean War (1950-1953) and worked as the country’s first aerial photographer. He opened a photo news agency in 1952 and Korea’s first photo gallery in Seo
PerformanceNov. 24, 2015
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[Editorial] Tour bus traffic
Driving through areas in Seoul that are popular with tourists can test one’s patience. Tour buses take up entire lanes in some places -- in front of the east side of Gyeongbokgung Palace and on the Mount Namsan Ring Road, for example -- as they unload passengers and wait for their return. In fact, tour buses seem to have taken over virtually all available space in the streets of Seoul as parking spaces. Further compounding the traffic congestion caused by tour buses is the opening of new duty-fr
EditorialNov. 24, 2015
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[Editorial] President’s whereabouts
The special committee charged with investigating the Sewol ferry disaster that claimed more than 300 lives continues to be fraught with political wrangling among its members, raising doubts over whether the committee will be able to complete its task in due time. On Monday, the committee passed a resolution to investigate the Blue House’s response to the Sewol ferry disaster after four members walked out, threatening to resign. The four, recommended to the committee by the ruling Saenuri Party,
EditorialNov. 24, 2015
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[SUPER RICH] New Silicon Valley stars of Korean descent
The relationship between new start-ups and their venture capital investors is a bit like a marriage: The start-up founder and investors hold a contractual ceremony, then need to uphold the terms and conditions and coexist together.In the tech sector, especially in Silicon Valley in California, many successful start-ups are the results of such unions between start-up founders and venture capital investors of Korean descent. This coexistence has resulted in the birth of a new breed of superrich.A
IndustryNov. 24, 2015
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[Robert J. Fouser] A look at Kim Young-sam’s legacy
The sudden death of former president Kim Young-sam last week underscores how far the 1980s and 1990s have fallen into the past. To the large number of Koreans who came of age in the 1980s and 1990s, those years of economic growth and political democratization form a strong collective memory that informs their worldview today. Younger generations look at those years as an era that they learn about in history class; their world view comes from what came after. Kim Young-sam’s presidency (1993-19
ViewpointsNov. 24, 2015
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LG Chem to build world’s largest wind energy storage
South Korean battery-maker LG Chem said Tuesday that it has teamed up with GS E&R, a local power generator, to build the world’s largest wind power storage system in Yeongyang, North Gyeongsang Province.The ESS will have a storage capacity of 50 megawatt hours, which can power some 5,000 households per day. The batteries are the equivalent of those used for 2,700 units of GM’s Volt plug-in hybrid. GS E&R has recently completed the turbine construction and carried out the pilot operation since Se
TechnologyNov. 24, 2015
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Samsung to offer SMEs patents for free
Samsung Electronics said Tuesday it would offer local small and medium-sized enterprises some 27,000 patents free of any fees. The patents had actually been shared since June through the company’s creative economy centers, but only 3,000 of them had been offered for free.With aims to relieve the burdens of smaller firms, the company said it has decided to offer them up. The patents are mostly on mobile devices, audio and video technologies, network and communication, home appliances and semicond
TechnologyNov. 24, 2015
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SK to purchase majority stake in OCI Materials
SK Holdings said Tuesday it would acquire a majority stake in OCI Materials, the world’s leading supplier of specialty gas used in making semiconductors, displays and solar modules, as it seeks to strengthen its chipmaking business. SK agreed to purchase a 49.1 percent stake in OCI Materials for 481.6 billion won ($417 million) from OCI, a leading South Korean chemicals manufacturer.(Yonhap) Through the acquisition, SK, newly equipped with a stable supply of base materials and related technology
IndustryNov. 24, 2015
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KT lays out blueprint for safety network
South Korea’s leading telecommunications company KT unveiled a set of plans to build a Long-Term Evolution network for emergency services and provide emergency telecom services in PyeongChang, the host city of the 2018 Winter Olympics in Gangwon Province, Tuesday. The public safety LTE, an emergency communications technology, allows fire, police and rescue responders to better communicate with each other using standard devices operating on the same frequencies, according to the firm. Oh Sung-mok
TechnologyNov. 24, 2015
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Government to remove account settlement screening for foreign firms
The Financial Supervisory Service said on Tuesday that it will abolish the screening process on the account settlement of foreign financial firms as part of its efforts to ease financial regulations.The financial watchdog revealed the plan during a breakfast meeting between FSS Gov. Zhin Woong-seob and 21 chiefs of foreign financial companies operating in Korea. Zhin Woong-seob, governor of the Financial Supervisory Service. FSS“Over the past year, the FSS has been implementing a series of finan
Nov. 24, 2015
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Volkswagen not responding to compensation demands in S. Korea
German auto giant Volkswagen is not responding to South Korean customers demanding the same kind of compensation as granted in North America for fabricating emission results of some of its vehicles, their legal representatives said Tuesday. Barun, which spearheads a class-action lawsuit against Volkswagen and its luxury brand Audi for car owners here, had made an official request for them to come up with the same kind of compensation plan for local customers. It demanded any response be given
IndustryNov. 24, 2015
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JCS chief inspects Korea-U.S. war readiness near border
Joint Chiefs of Staff Chairman Gen. Lee Sun-jin inspected the combat readiness posture of a joint South Korea-U.S. military division stationed near the inter-Korean border on Tuesday, the JCS said. Lee visited the Combined Division inside the U.S. Forces Korea's Camp Red Cloud in Uijeongbu, located south of the Demilitarized Zone, and inspected the division's joint defense posture, it said in a statement. South Korea and the U.S. launched the combined division in June, consisting of a South
DefenseNov. 24, 2015
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Seoul shares up 4th day on eased U.S. rate concerns
South Korea's stock markets gained 0.63 percent on Tuesday extending its winning-streak to a fourth day as uncertainty over the U.S. Fed's interest rate policy eased.The local currency rose against the greenback.The benchmark Korea Composite Stock Price Index advanced 12.59 points to 2,016.29. Trading volume was moderate at 406.9 million shares worth 4.27 trillion won ($3.7 billion), with gainers outpacing losers 434 to 368. Analysts said the eased uncertainties surrounding the U.S. rate policy
Nov. 24, 2015
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U.S. approval on technical support for KF-X faces major delay
South Korea's ambitious fighter jet development project was dealt another blow as the country hit a snag in its negotiations with the United States over technical support, according to sources on Tuesday. Seoul has been expecting final approval from the U.S. State Department on U.S.-based defense firm Lockheed Martin's transfer of aviation technologies for the Korean Fighter Experimental program, designed to produce domestic combat jets by 2025. South Korea agreed with Lockheed Martin last ye
DefenseNov. 24, 2015
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Probe launched over U.S. helicopter crash
The U.S. military has launched a probe into a helicopter crash that left two American soldiers dead, officials said Tuesday. An AH-64 Apache helicopter from the U.S. Army 2nd Infantry Division crashed onto a mountain road late Monday near Wonju, Gangwon Province, some 100 kilometers east of Seoul. The accident took place 20 minutes after the attack helicopter departed from Osan Air Base in Pyeongtaek, Gyeonggi Province. The crew members were on their routine night low-fly training mission, the U
Social AffairsNov. 24, 2015
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North Korean leader's top aide working on farm as punishment: state spy agency
North Korean leader Kim Jong-un sent his key aide to a local farm in early November as punishment for the mishandling of a hydraulic power station construction project, South Korea's state spy agency said Tuesday. Choe Ryong-hae, the communist party's secretary, appears to have been receiving re-education at a farm in an unidentified province starting this month due to his responsibility for water leakage from the newly built hydraulic power station, according to the National Intelligence Servi
North KoreaNov. 24, 2015
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Household credit hits all-time high in Q3
(123RF)South Korean household credit, or credit purchases and loans extended by financial institutions, reached an all-time high of 1,166.4 trillion won ($1.01 trillion) as of September, fueling concerns the country’s household indebtedness is outpacing the economy. According to the Bank of Korea’s latest quarterly report released Tuesday, household credit in the July-September period grew 3.0 percent, the same as in the previous quarter, when the growth rate hit its highest in 4 1/2 years. Hou
Nov. 24, 2015
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Sales of Korean firms dip for first time ever in 2014: report
Total sales of South Korean companies dropped on-year for the first time ever in 2014 due to weak manufacturing sector growth, a government report showed Tuesday. According to the report by Statistics Korea, the combined sales of 12,125 companies checked reached 2,231 trillion won ($1.93 trillion) last year, down 26 trillion won, or 1.2 percent, from 2013. The companies had more than 50 regular workers and had a paid-in capital of more than 300 million won. The numbers exclude financial and in
IndustryNov. 24, 2015