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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Hyundai Motor starts to receive preorders for EQ900
South Korea's top automaker Hyundai Motor Co. said Monday that it started to receive preorders for the latest edition of its flagship model to be officially launched next month. The automaker will receive preorders for the EQ900, the first model to be launched under Hyundai Motor's new premium brand "Genesis," until Dec. 9, the company said in a press release. Its domestic launch is expected to start in time for the end of the preorder period, and the luxury sedan will be unveiled overseas as
IndustryNov. 23, 2015
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Park visits hospital to offer condolences for death of former president
President Park Geun-hye visited a hospital in Seoul on Monday to offer condolences to the bereaved family members over the death of former President Kim Young-sam. Park went to Seoul National University Hospital about seven hours after she returned from a three-nation swing to attend a string of annual summits with regional leaders, including U.S. President Barack Obama. She was informed of Kim's death Sunday, when she was in Malaysia for a regional summit, and said she "prays for the soul of
PoliticsNov. 23, 2015
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Samsung C&T wins 970.7 bln won construction deal in Australia
Samsung C&T Corp., a South Korean builder, said Monday that it has signed a 970.7 billion won ($840 million) deal to construct infrastructure in Australia. The deal signed with the New South Wales government calls for Samsung C&T to join the construction of a 33-kilometer-long road that links the heart of Sydney to the state's southwestern region. Samsung C&T said that it will lead the construction of a 9-kilometer section of the project along with two other foreign partners. The South Korean
IndustryNov. 23, 2015
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Chinese group invests $290 mln in FNC Entertainment
A subsidiary of Chinese conglomerate Suning Universal has decided to invest US$290 million in FNC Entertainment, the South Korean entertainment agency said Monday. FNC Entertainment said it will issue about 1.7 million new shares to Suning Universal Media Co. to raise 336.9 billion won ($290.8 million) in capital. "Through our partnership with Suning Universal Media, we will jump-start our business in China," the agency said in a statement. Suning Universal Media is based in Seoul and is prin
IndustryNov. 23, 2015
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High-profile figures offer condolences for death of former president
A number of high-profile figures visited a hospital in Seoul on Monday to offer condolences for the death of former President Kim Young-sam. Kim, an iconic figure of the pro-democracy movement who ended decades of military rule in South Korea during his presidency from 1993 to 1998, passed away Sunday at Seoul National University Hospital. He was 87. Many incumbent and former politicians and government officials, including Lee Hoi-chang who served as prime minster under the Kim administration,
PoliticsNov. 23, 2015
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China rapidly narrows technology gap with Korea
China's rapid growth has helped the world's second-largest economy reduce its technology gap with South Korea over the past several years, a report showed Monday. According to the report by the Korea Institute for Industrial Economics and Trade, South Korean manufacturers have an average 3.3-year lead over their Chinese counterparts. The gap is down from 3.7 years tallied in 2011, and a sign that the world's No. 2 economy is speeding up efforts to bridge existing gaps. The report was based o
IndustryNov. 23, 2015
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Bidding for Coway to be held next week as scheduled: source
The main bidding for Coway Co., South Korea's top water purification maker, will be held early next week as scheduled, a market source said Monday, dismissing prospects that it could be delayed due to insufficient market interest. A consortium led by CJ Group and China's Haier has been cited as a highly potential player in the bid for Coway with an identified China-based strategic investor later taking part. The exact number of companies who joined after the preliminary bidding process has not
IndustryNov. 23, 2015
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FTC conditionally OKs merger between global chip firms
South Korea's antitrust watchdog on Monday approved the merger between two multinational semiconductor companies, while making certain that the deal did not hurt fair market competition in the country. The Fair Trade Commission said it has consented to NXP Semiconductors N.V. taking over Freescale Semiconductors Ltd. The arrangement would give NXP a solid grip on the local automotive, networking and industrial embedded hardware and software markets. NXP and Freescale are based in the Netherla
IndustryNov. 23, 2015
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Regional leaders condemn terrorist attacks; vow to counter terrorism
President Park Geun-hye and more than a dozen regional leaders on Sunday condemned a recent series of terrorist attacks in Paris and other areas as they pledged unshaken resolve to stand together in countering terrorism and violent extremism. "We denounce terrorism and violent extremism in all its forms and manifestations, including the spread of violent extremist ideologies and propaganda" according to a statement issued at the end of the East Asia Summit in Kuala Lumpur. The annual summit is
InternationalNov. 23, 2015
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Park returns home after three-nation swing for regional summits
President Park Geun-hye returned home Monday after a three-nation swing to attend a string of summits with regional leaders on how to deepen economic integration. Still, the summits were partly overshadowed by the recent deadly terrorist attacks in Paris that killed more than 120 people. Park and more than a dozen regional leaders condemned the series of attacks in Paris and other areas as was the case in the two other high-profile summits last week. "We denounce terrorism and violent extremi
InternationalNov. 23, 2015
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Orascom thinks it has lost control over N. Korea's mobile network provider Koryolink
Egyptian telecommunications firm Orascom, which launched North Korea's first mobile network provider Koryolink in 2008, believes it has now lost control of the joint venture with Pyongyang, the company's latest financial results report showed. The assessment underscores the difficulty in doing business in and with North Korea, one of the world's most closed nations that is known for flouting international norms and has long been under a string of international sanctions for its nuclear and miss
North KoreaNov. 23, 2015
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Japanese books denying responsibility for wartime sexual slavery distributed to American scholars
Right-wing Japanese activists are believed to be distributing books denying Tokyo's responsibility for sexual slavery during World War II to American scholars and experts as part of a campaign to water down the atrocity, sources said Sunday. Hundreds of copies of such books, including "History Wars" published by the Sankei Shimbun and a book authored by Oh Sun-hwa (O Sonfa), a Korean-born naturalized Japanese nationalist, have been sent to scholars, professors and experts in Washington and else
InternationalNov. 23, 2015
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Samsung dogged by smaller rivals in NAND flash market: data
U.S.-based SanDisk Corp. is expanding its presence in the global NAND flash market, narrowing its gap with industry leader Samsung Electronics Co., data showed Monday. SanDisk's share in the global NAND flash market reached 15.4 percent in the third quarter, up 2 percentage points from a year earlier, according to the data compiled by DRAMeXchange. In contrast, Samsung Electronics garnered 31.5 percent of the market, down 1.1 percentage points from the same period last year, they showed. Tosh
IndustryNov. 23, 2015
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Seoul shares open higher on retailers, builders
South Korean stocks started higher Monday on the back of gains in retailers and construction shares. The benchmark Korea Composite Stock Price Index added 5.92 points, or 0.3 percent, to 1,955.78 in the first 15 minutes of trading. Retailers gained ground, with Lotte Shopping rising 0.9 percent and GS Retail climbing 1.68 percent. Samsung C&T, the trading unit of Samsung Group, shot up 5.32 percent. Builders also opened bullish, with Hyundai Engineering & Construction moving up 1.84 percent a
Nov. 23, 2015
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Park In-bee qualifies for LPGA Hall of Fame
South Korean Park In-bee reserved her ticket to the LPGA Hall of Fame on Sunday after winning this season's Vare Trophy awarded to the player with the lowest scoring average. The world No. 2 hit a final round 3-under 69, earning the final point out of the 27 needed to enter the Hall of Fame. She will become formally eligible after completing her 10th year on the Tour in 2016. If inducted, Park will be the second South Korean ever to receive the honor after Park Se-ri in 2007. Meanwhile, South
GolfNov. 23, 2015
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Asia Culture Center to open this week
Asia's largest cultural center that is expected to provide a window into pan-Asian culture will open in the southwestern city of Gwangju later this week, the organization running the center said Monday. The Asia Culture Center was partially opened to the public in September, but its entirety will become available this Wednesday. The opening ceremony to be held at 11 a.m. on Wednesday will invite 700 people including South Korean Prime Minister Hwang Kyo-ahn, Minister of Culture, Sports and Tou
CultureNov. 23, 2015
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U.S. dollar deposits rise ahead of apparent rate hike
U.S. dollar-denominated savings by local residents increased at a record rate last month as people apparently expect the greenback to strengthen following what many see as an imminent U.S. rate hike, market observers said Monday. As of the end of October, U.S. dollar deposits held by local residents came to $49.45 billion, according to data released earlier by the Bank of Korea. The October tally marks a 13.8 percent increase from the previous month, the fastest on-month rise in the country's
Nov. 23, 2015
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Large retailers cry foul over 'discriminatory' commission rates
Large retailers in South Korea are claiming that they are being discriminated against by card firms over commission rates which could eat into their bottom lines amid a protracted economic slowdown, industry sources said Monday. According to the sources, some large-sized retailers have demanded a reduction in commission rates paid to card firms after the government forced card issuers to cut them for smaller players to help ease financial burdens. For small merchants with annual sales of 200 m
IndustryNov. 23, 2015
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Hyundai E&C wins $727 mln deal to build power plant in Indonesia
Hyundai Engineering & Construction Co., a South Korean builder, said Monday that it has won a $727 million deal to build a power station in Indonesia. The deal signed with CEPR, a local energy facility operator, called for Hyundai E&C along with Hyundai Engineering Co. to build a 1,000-MW coal-fired power plant along the coastal line of Java, an island 200 kilometers east of Jakarta. Under the deal, which will be led mostly by Hyundai E&C, they will also lay down power lines and expand a tran
IndustryNov. 23, 2015
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Korea, Central America to hold FTA talks
South Korea and Central American countries will engage in talks aimed at laying a firm foundation for a free trade pact that can benefit all sides, the government said Monday. The five-day talks, scheduled to run from Monday through Friday in El Salvador, will focus on tariff concessions, liberalization of the service sector, business investment, e-commerce, financial markets and intellectual property rights, the Ministry for Trade, Industry and Energy said. "There will be comprehensive discu
Nov. 23, 2015