Most Popular
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Yoon warns North Korea against nuclear attack attempt
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AI textbook bubble could burst, expert warns
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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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Prosecution closes 'Dior bag' case amid opposition uproar
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North Korean trash balloons cross border day after Seoul military parade
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SF Giants outfielder Lee Jung-hoo back home after injury-shortened rookie season
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Court confirms sentence for rapper who attempted to evade national service
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[Photo News] Armed Forces Day
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Shipbuilders continue to suffer drop in new orders: report
South Korean shipbuilders, led by Hyundai Heavy Industries Co., are expected to face a protracted slump down the road with their new orders likely to plunge 27 percent this year, a report showed Tuesday.According to the report compiled by the KEXIM Overseas Economic Research Institute, local shipbuilders received a combined $19.05 billion in the first nine months of the year, down 19.4 percent from a year earlier.In terms of volume, their new orders also declined 2.5 percent on-year to reach 8.7
IndustryNov. 10, 2015
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Seoul shares open lower on tech, mobile losses
South Korean stocks started lower on Tuesday following losses from techs and mobile carriers. The benchmark Korea Composite Stock Price Index shed 3.76 points, or 0.68 percent, to 2,011.94 in the first 15 minutes of trading.Tech shares led the market decline, with Samsung Electronics falling 0.82 percent and top chipmaker SK hynix losing 1.44 percent. LG Display shed 0.23 percent.Mobile carriers were also among losers, with SK Telecom moving down 0.44 percent and KT decreasing 0.35 percent. LG U
Nov. 10, 2015
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U.S. human rights envoy to visit Korea
The U.S. special envoy for North Korean human rights issues will visit Seoul later this week for meetings with South Korean officials, the State Department announced Monday.Amb. Robert King will be in Seoul Nov. 11-18 "as part of regular consultations with senior Republic of Korea officials on a range of human rights and humanitarian issues," the department said in a release without elaborating.The visit comes as the international community is gearing up to increase pressure on Pyongyang over it
Foreign AffairsNov. 10, 2015
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OECD cuts Korea's 2015 growth outlook to 2.7%
The Organization for Economic Cooperation and Development on Monday downgraded South Korea's 2015 economic growth outlook due to weak domestic consumption and minus export growth.In its latest Economic Outlook report, the Paris-based organization said that gross domestic product for Asia's fourth-largest economy will likely grow 2.7 percent this year, down from its previous estimate of 3 percent announced in June.The annual growth number represents a noticeable contraction from the 3.3 percent e
Nov. 10, 2015
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GE opens collaboration office in Korea
The U.S. industrial giant General Electric opened a collaboration office in the South Korean border city of Paju Monday as part of efforts to expand business in preparation of the unification of the two Koreas.GE held an opening ceremony to celebrate the opening of its office at Paju City Hall near the western border with North Korea.The ceremony drew some 80 people, including GE Korea head Kang Sung-wook, Paju Mayor Lee Jae-hong, Unification Minister Hong Yong-pyo, and Kim Moo-sung, chairman of
IndustryNov. 10, 2015
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10-year jail term sought for Hyosung chairman over tax evasion, embezzlement
Prosecutors sought a 10-year jail term on Monday for a business tycoon accused of creating slush funds and evading taxes of over 800 billion won ($690 million) in total.Prosecutors demanded the sentence at a trial at the Seoul Central District Court against Cho Suck-rai, chairman of conglomerate Hyosung Group, saying that the group's accounting fraud amounts to 890 billion won over a decade from 1999.Prosecutors also demanded 300 billion won in fines. "While he degraded the company as if it's a
Nov. 10, 2015
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Korea's export prices fall at fastest pace in 9 months
South Korea's export prices fell at the fastest clip in nine months in October as the local currency continued to gain ground against the U.S. dollar, the central bank said Tuesday.The export price index reached 82.12 last month, down 3.5 percent from a month earlier, the steepest monthly decline since January this year, when the figure fell 4.3 percent, according to the Bank of Korea. From a year earlier, the index fell 6.2 percent.The index for import prices also fell 3 percent on-month to 78.
Nov. 10, 2015
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Seoul international trade conference to examine the rise of mega FTAs
The 2015 Seoul Conference on Trade & Industry aims to expand deliberations on the rise of mega free trade agreements around the world and their impact on the global economy, the government said Tuesday.The forum held in the South Korean capital and hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association is focused on emerging paradigms in the global trading systems such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership an
Nov. 10, 2015
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Koreans less concerned about climate change than five years ago: U.S. survey
South Koreans are less concerned about climate change now than they were five years ago, though nearly 90 percent of them think the global challenge will affect them personally at some point in the future, a U.S. survey showed Monday.The Pew Research survey of 45,435 people in 40 countries around the world showed that 48 percent of the South Korean respondents believe that climate change is a very serious problem, a sharp drop compared with 68 percent who thought the same way in 2010.South Korea
Nov. 10, 2015
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World in 'uncharted territory' as greenhouse gases hit new high: UN
GENEVA (AFP) – Concentrations of carbon dioxide and other greenhouse gases in the atmosphere hit a new high in 2014, the UN said Monday, warning the resulting climate change was moving the world into "uncharted territory".In its annual report on Earth-warming greenhouse gases in the atmosphere, the World Meteorological Organization said concentrations of carbon dioxide (CO2), methane and nitrous oxide once again broke records last year."Concentrations of greenhouse gases in the atmosphere are no
Nov. 9, 2015
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Maldives says state of emergency may be lifted early
COLOMBO, Sri Lanka (AP) – The foreign minister of the Maldives said Monday that a monthlong state of emergency declared by the president last week may be lifted early.Foreign Minister Dunya Maumoon said by phone from the Maldives' capital, Male, that the emergency was declared in the face of an unprecedented security threat, but that information from defense officials gives hope that it could be reviewed in the coming days.The decree last Wednesday came after a Sept. 28 blast aboard President Ya
World NewsNov. 9, 2015
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10-year jail term sought for Hyosung chairman over tax evasion, embezzlement
SEOUL (Yonhap) -- Prosecutors sought a 10-year jail term on Monday for a business tycoon accused of creating slush funds and evading taxes of over 800 billion won (US$690 million) in total.Prosecutors demanded the sentence at a trial at the Seoul Central District Court against Cho Suck-rai, chairman of conglomerate Hyosung Group, saying that the group's accounting fraud amounts to 890 billion won over a decade from 1999.Prosecutors also demanded 300 billion won in fines. "While he degraded the c
CompaniesNov. 9, 2015
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GE opens collaboration office in S. Korea
PAJU (Yonhap) – The U.S. industrial giant General Electric opened a collaboration office in the South Korean border city of Paju Monday as part of efforts to expand business in preparation of the unification of the two Koreas.GE held an opening ceremony to celebrate the opening of its office at Paju City Hall near the western border with North Korea.The ceremony drew some 80 people, including GE Korea head Kang Sung-wook, Paju Mayor Lee Jae-hong, Unification Minister Hong Yong-pyo, and Kim Moo-s
CompaniesNov. 9, 2015
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OECD cuts S. Korea's 2015 growth outlook to 2.7 pct
SEJONG, Nov. 9 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Monday downgraded South Korea's 2015 economic growth outlook due to weak domestic consumption and minus export growth.In its latest Economic Outlook report, the Paris-based organization said that gross domestic product (GDP) for Asia's fourth-largest economy will likely grow 2.7 percent this year, down from its previous estimate of 3 percent announced in June.The annual growth number represents a notic
Nov. 9, 2015
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[Herald Interview] Smart city planning key for growth
Amid the prolonged global economic downturn, a global expert on sustainability notes that smart city development could be one of the key drivers for growth that countries should focus on. “Actually, there are three drivers for economic growth. One is increasing population, and the second is industrial productivity,” Roland Busch, a member of the managing board of Siemens, told The Korea Herald in a recent interview. Roland Busch, a member of the managing board of Siemens (Siemens Korea)Busch vis
Nov. 9, 2015
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Self-employed Koreans struggle with heavy debt, massive competition
Korea’s ratio of self-employed people to its working population stands at 23.2 percent, the fifth highest among the 34 member states of the Organization for Economic Cooperation and Development, according to a report recently released by a research arm of the National Assembly. The four countries with higher figures are Greece (31.8 percent), Mexico (27.5 percent), Turkey (23.9 percent) and Italy (23.7 percent).What is common with the top four is that their economies are heavily reliant on touri
Nov. 9, 2015
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Suu Kyi's party projects landslide in historic Myanmar vote
YANGON, Myanmar (AP) – Opposition leader Aung San Suu Kyi's party said Monday that it was confident it was headed for a landslide victory in Myanmar's historic elections, and official results from the government that began trickling in appeared to back up the claim.Suu Kyi, the Nobel Peace Prize laureate and pro-democracy icon, urged supporters of the opposition National League of Democracy party not to provoke losing rivals who mostly represent the former junta that ruled this Southeast Asian n
World NewsNov. 9, 2015
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North Korean marshal’s death indicates more personnel shake-ups
North Korean state media said Monday that leader Kim Jong-un had on Sunday conveyed his condolences for a deceased military marshal whose funeral committee set off speculation over the political health of ranking officials. Ri Ul-sol, also a close assistant to the sitting ruler’s late grandfather Kim Il-sung, died from lung cancer Saturday at age 94. The young Kim, who presides over his 170-member funeral committee, visited the Central Hall of Workers in Pyongyang housing Ri’s body, met with his
North KoreaNov. 9, 2015
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History spat roils education scene
Seoul City plans to provide students in middle and high schools with books that chronicle the names of those who sympathized with imperial Japan during its colonial rule of Korea, stoking opposition from the conservatives who claim it is a move to thwart the government’s reinstatement of state-authored history textbooks. Kim Moon-soo, a member of the Seoul Metropolitan Council, said Monday that the Seoul Metropolitan Education Office would distribute the “Register of Sympathizers of Imperial Jap
Social AffairsNov. 9, 2015
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Childhood obesity in Korea twice as common in boys: OECD
Boys in South Korea are nearly twice as likely to be obese than girls, a new report released by the Organization for Economic Cooperation and Development showed. According to the report Health at a Glance 2015, 26.4 percent of boys aged 5-17 were either overweight or obese as of 2013. Meanwhile, only 14.1 percent of girls had the same health condition. The gender disparity in Korea was significantly high considering the OECD average for childhood obesity was 24.3 percent for boys and 22.1 perce
Social AffairsNov. 9, 2015