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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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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Man calls 119, found dead 1 week later because officials went to wrong place
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'China should end exchange-rate distortion‘
China should press ahead with efforts to make the yuan's exchange rate more flexible as it seeks to boost the currency's global usage, according to a former central bank adviser.The yuan's likely inclusion in the International Monetary Fund's Special Drawing Rights basket is recognition of the progress China has made since it unified the official and market exchange rates in 1994, but more needs to be done, said Yu Yongding, a former academic member of the People's Bank of China's monetary polic
World BusinessNov. 19, 2015
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Barclays to pay $150m more in forex probe
Barclays will pay an additional $150 million to New York State’s financial regulator to resolve allegations that it rigged foreign exchange trading by putting the bank’s interests ahead of those of its clients, the regulator said on Wednesday.The British bank is also removing a head of global electronic trading for foreign exchange-related misconduct, the New York Department of Financial Services said. The person’s identity was unclear.The penalty will be reflected in Barclays’ fourth quarter 20
World BusinessNov. 19, 2015
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Fed minutes confirm Dec. hike expectations
WASHINGTON (AFP) ― Minutes of the Federal Reserve’s late October policy board meeting confirmed Wednesday that participants expected to begin raising interest rates in December.While some at the Oct. 27-28 meeting of the Federal Open Market Committee said it was already time for the first rate increase in over nine years, “most participants” expected the economic conditions would be right by their Dec. 15-16 meeting, the minutes said.That confirmed the central message of the formal October FOMC
World BusinessNov. 19, 2015
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Oil prices edge higher after U.S., Fed reports
NEW YORK (AFP) -- Global oil prices moved modestly higher Wednesday as traders weighed a small gain in U.S. inventories and a Federal Reserve report that supported expectations of a December interest rate hike. U.S. benchmark West Texas Intermediate for delivery in December edged up eight cents to $40.75 a barrel on the New York Mercantile Exchange. Brent North Sea crude for January delivery, the global benchmark for crude oil, rose to $44.14 a barrel in London, up 57 cents from Tuesday's settle
World BusinessNov. 19, 2015
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Beijing to bring culprits to justice after IS executes Chinese hostage
China on Thursday strongly condemned the killing of a Chinese hostage by the Islamic State group, vowing to hold the culprits accountable. The extremist group said in its latest edition of an English-language magazine that it has killed a Norwegian and a Chinese hostage, who was identified as Fan Jinghui. Confirming the killing by the jihadists, the Chinese ministry said it "strongly condemns this inhuman action and will definitely hold the perpetrators accountable." "The Chinese side will conti
InternationalNov. 19, 2015
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Korean pension fund ranks 3rd worldwide by assets: report
South Korea's state-run National Pension Service’s total asset reached $429.8 billion last year, ranking third among state pension operators in the world, a report showed Thursday.Japan's Government Pension Investment Fund topped the list with $1.14 trillion in assets, followed by Norway's Government Pension Fund with $884 billion, according to the report by the Nation Pension Research Institute, which cited a survey on top 300 pension funds conducted by Towers Watson, a global marketing service
Nov. 19, 2015
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Asia Culture Center to open next week
Asia's largest cultural center that is expected to provide a window to pan-Asian culture will open in the southwestern city of Gwangju next week, the organization running the center said Thursday.The Asia Culture Center was partially opened the public in September, but its entirety will become available next Wednesday.Located in the basement of the old South Jeolla provincial office, the space will serve as the platform for international cultural exchange, rather than limiting its functions to c
CultureNov. 19, 2015
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Korea's foreign exchange trading dips 9.7% in Q3
Spot trading of foreign currencies by banks in South Korea fell nearly 10 percent on-quarter in the third quarter largely due to a cut in won-yuan transactions prompted by the country's dwindling exports to China, central bank data showed Thursday.Daily spot trading volume came to $19.69 billion in the three months ended Sept. 30, according to the Bank of Korea.The Q3 tally marks a 9.7 percent drop from a record $21.8 billion in the second quarter.The drop was mostly attributed to a 29.3 percent
Nov. 19, 2015
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International marriages in Korea drop to 12-yr low in 2014
The number of South Koreans getting married to a foreign spouse continued to dwindle last year, dipping to the lowest level in over a decade, data showed Thursday.The number of South Koreans tying the knot with a foreign spouse came to 24,387 in 2014, down 9.5 percent from a year earlier, according to the data from the Statistics Korea.The 2014 tally marked the lowest since 2003 when 24,775 Koreans married foreigners. The statistics office noted the number of international marriages has declined
Social AffairsNov. 19, 2015
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LG joins forces with credit card firms for payment tool
South Korea's No. 2 tech giant LG Electronics Inc. said Thursday it has clinched agreements with local credit card firms in preparation for the launch of its own payment tool.LG Electronics said it has agreed with Shinhan Card Co. and KB Kookmin Card Co. to join ties for its mobile payment system, dubbed LG Pay. The company has not yet opened the launch date of the service.LG said it will conduct various tests of the new payment system with the credit card companies.LG's bigger local rival, Sams
TechnologyNov. 19, 2015
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Footage of Paris terror attacks at restaurants revealed (video)
A collection of CCTV footage showing diners diving for cover as an Islamic State jihadist sprayed the cafe with bullets last week was revealed by British newspaper the Daily Mail on Thursday. The video shows an Islamic State member believed to be Salah Abdeslam, one of two Belgium-born brothers linked to the atrocity and who remains at large, mercilessly shooting civilians. CCTV footage from attacked restaurants. (Youtube)The footage also shows a young woman who could have died at end of the ter
World NewsNov. 19, 2015
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Court acquits defunct party officials over illegal rally
A local court on Thursday acquitted eight members of a now-defunct minor opposition party on charges of staging an unauthorized rally.Upholding a lower court ruling, an appeals department of the Seoul Central District Court found the eight officials of the Unified Progressive Party not guilty of holding an illegal rally. The court said the rally "did not pose a direct threat to the public stability and order."The defendants were indicted in March for holding a protest rally for about three hours
PoliticsNov. 19, 2015
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Seoul calls on Pyongyang to come to dialogue table
South Korea repeated its call for North Korea Thursday to come forward for dialogue as the North blamed the South for an absence of high-level inter-Korean talks following their August agreement to ease tension.Seoul's reaction came as North Korea claimed Wednesday that South Korea has shifted the blame for having failed to hold high-level talks on Pyongyang, raising questions about Seoul's sincerity in improving inter-Korean ties.The two Koreas reached a landmark deal on Aug. 25 to defuse milit
North KoreaNov. 19, 2015
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Korean banks to tighten mortgage rules in provincial areas
South Korean banks will likely impose tougher rules for screening mortgages in non-capital areas starting next year, joining government-led efforts to rein in the country's runaway household debt, industry sources said Thursday.The financial authorities have asked local banks to use the debt-to-income ratio when they screen mortgage requests from borrowers in provincial regions, according to the sources.The DTI ratio is a set of household loan controlling measures, along with the loan-to-value r
Nov. 19, 2015
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Seoul shares up 1% in late morning trade
South Korean stocks traded 1 percent higher late Thursday morning on the back of strong gains in technology firms and mobile carriers.The benchmark Korea Composite Stock Price Index added 19.64 points to 1,982.52 as of 11:20 a.m.Market behemoth Samsung Electronics rose 0.23 percent, and top chipmaker SK hynix added 1.96 percent. LG Electronics climbed 3.87 percent.Top mobile carrier SK Telecom moved up 1.3 percent, and No. 2 KT advanced 1.03 percent. LG Uplus, the smallest player, shot up 4.88 p
Nov. 19, 2015
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Park hold talks with regional leaders on inclusive growth
President Park Geun-hye attended a session with dozens of Asia-Pacific leaders on how to build inclusive growth on Thursday, the second and last day of their annual summit in the Philippines.The leaders of the Asia-Pacific Economic Cooperation summit are expected to exchange opinions on specific measures to achieve inclusive growth amid a global economic slowdown, according to Cheong Wa Dae, South Korea's presidential office.Park also plans to highlight that the revitalization of the service ind
Nov. 19, 2015
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South Korea to commemorate 5 yrs after North's shelling of border island
South Korea will commemorate next week the fifth anniversary of the deadly shelling of a South Korean frontline island by North Korea, the veterans affairs ministry said Thursday.In what was North Korea's first attack on South Korean domain since the 1950-53 Korean War, scores of artillery rounds and rockets were fired on Yeonpyeong Island just south of the de facto inter-Korean sea border of the Northern Limit Line on Nov. 23, 2010. The bombardment escalated into artillery engagement between th
North KoreaNov. 19, 2015
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Korea, China seek closer people-to-people ties
South Korea and China sought to expand their people-to-people ties Thursday as they held their third conference on public diplomacy.The forum, established in 2013 under a summit agreement between Presidents Park Geun-hye and Xi Jinping, brought together some 200 people from both countries, representing the government, academia, civil society and the media.The forum's three sessions are expected to focus on ways to strengthen bilateral ties through public policy sharing, increased cultural exchan
Foreign AffairsNov. 19, 2015
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Short-term funds hit record high
Idle money in South Korea soared to a new all-time high, data showed Thursday, as investors continued to dither amid low interest rates and growing uncertainties ahead of a potential U.S. rate hike.Short-term floating money reached a record 921.8 trillion won ($790.2 billion) as of end-September, up 21 percent from a year earlier, according to the data compiled by the Bank of Korea and the Korea Financial Investment Association.Such money has been on the increase in recent years, rising 7 percen
Nov. 19, 2015
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China narrows gap with Korea in global TV market
China expanded its share in the global TV market in the third quarter, narrowing the gap with No. 1 South Korea, industry data showed Thursday.Beijing took up 27.2 percent of the global TV market in the July-September period, up 2.3 percentage points from a quarter earlier, the data compiled by industry tracker IHS showed.In contrast, South Korea held 31.7 percent of the market, down 2.7 percentage points.Japan, meanwhile, followed with 14.9 percent, trailed by the United States with 4 percent a
IndustryNov. 19, 2015