Most Popular
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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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North Korean trash balloons cross border day after Seoul military parade
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Prosecution closes 'Dior bag' case amid opposition uproar
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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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N. Korea may revoke 1991 Inter-Korean Basic Agreement in parliament: Seoul
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[Kim Seong-kon] Understanding uniquely American things
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Military envisions combat forces deployment on island of Ulleung, East Sea
The military is envisioning the deployment of combat marine forces on the island of Ulleung in the East Sea, a move that could add military pressure on North Korea and enhance the defense of the easternmost islets of Dokdo, a military official said Thursday.If the deployment vision is put into action, it could form a U-shaped coastal defense system linking the group of islands near the inter-Korean border in the Yellow Sea and the southern resort island of Jeju to Ulleung, located about midway a
DefenseNov. 5, 2015
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3rd Lone Star hearing to take place in The Hague in Jan.
The third hearing of a multi-billion-dollar case the U.S. private equity firm Lone Star filed against South Korea over its asset sell-offs will be held in The Hague in January, the Justice Ministry here said Thursday.Lone Star and the South Korean government will counter each other at the International Centre for Settlement of Investment Disputes (ICSID) in the Netherlands from Jan. 5-8 over the equity fund's 2003 purchase of a controlling stake in Korea Exchange (KEB) and its sell-off, the mini
Nov. 5, 2015
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TPP market liberalization scope similar to S. Korea-U.S. FTA: gov't
The level of market liberalization of the recently signed Trans-Pacific Partnership (TPP) is similar to the free trade pact reached between South Korea and the United States, although more time is needed to determine what impact it will have on Asia's fourth largest economy, the government said Thursday.The Ministry of Trade, Industry and Energy said that the text of the agreement reached between 12 Asia-Pacific countries early last month has to be checked in detail, and claimed there were no bi
Nov. 5, 2015
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Court rules Apple not liable to compensate for tracking users' location
An appeals court on Thursday ruled against South Korean iPhone users who filed a damages suit against Apple Inc. for collecting their location information without their consent.The Busan High Court, upholding a lower court's ruling, dismissed the complaint filed against the U.S.-based tech firm and its local unit, Apple Korea, seeking 1 million won (US$879) each in compensation, saying there was no leakage of private data.While acknowledging the illegality of Apple's collection of data, the cour
TechnologyNov. 5, 2015
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Rosy economic indicators veil structural problems
A recent string of economic indicators have painted a rosy or robust picture of the Korean economy. Its industrial output expanded by 2.4 percent from the month before in September, the rapidest pace in 54 months, according to figures from the state statistical office. The country’s gross domestic product grew by 1.2 percent from a year earlier in the July-September period, the highest rate in six quarters, showed data released by the Bank of Korea. Korea posted a current account surplus for 43
Nov. 5, 2015
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Shipbuilders report W2.1tr losses in Q3
Korea’s shipbuilding industry suffered from massive losses in the third quarter of this year due to suspension or cancellation of offshore rig projects, much higher than previously announced, revised data showed Thursday.Following revised estimates released by the companies, the nation’s top three shipbuilder ― Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering ― logged a combined operating loss of 2.1 trillion won ($1.84 billion), as against 1.8 tr
IndustryNov. 5, 2015
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Park proposes joint inter-Korean exchange office
President Park Geun-hye on Thursday proposed to establish a joint office with North Korea to handle inter-Korean exchanges, as a follow-up measure of a landmark deal reached with Pyongyang in August.“While the fields of civil exchanges between the two Koreas are spreading from history, culture and sports to forestry, pest control and others, there needs to be support on the government level for such a trend to expand even further,” said Park during a meeting with the members of presidential prep
NationalNov. 5, 2015
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Majority of Koreans oppose Seoul’s new slogan: survey
More than half of Koreans oppose Seoul’s controversial new slogan “I.Seoul.U,” a survey showed Thursday. According to the survey conducted by local pollster Realmeter, 54.7 percent of the respondents were against the slogan, while only 11.9 percent supported it. Nearly 7 in 10 Seoul residents were unhappy with it.Nearly 36 percent of respondents opposed said that Seoul should keep the current slogan “Hi Seoul” while 18.9 percent thought the government should pick a new one. Last week, “I.Seoul.U
Social AffairsNov. 5, 2015
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371 foreigners nabbed in 2-month crackdown on gambling, phishing
The police said Thursday they had arrested a total of 708 foreigners in the past two months, with gambling and financial fraud being the most common crimes committed by foreigners residing in Korea. The head office of the National Police Agency. (Yonhap)The police arrested 371 foreign nationals, of whom 27 were physically detained, for involvement in gambling and phishing scams during the two-month crackdown that started in September. In most cases, foreigners gambled for fun with their friends
Social AffairsNov. 5, 2015
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Prejudice makes refugee life tougher
With risks and challenges faced by refugees across the world having become one of the greatest global issues today, the status and conditions of asylum seekers in South Korea have also been highlighted. The Korea Herald is publishing a series of articles shedding light on refugees in Korea, their hardships, the systematic fallout, the country’s own history and ways to go forward. The following is the fourth installment. ― Ed.In April, Incheon Metropolitan Office of Education announced that eight
Social AffairsNov. 5, 2015
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Korea’s per capita GDP to near Japan’s in 2020: IMF
(123RF)Korea’s per capita gross domestic product is expected to catch up with Japan within the next five years, according to a growth outlook report of the International Monetary Fund. The report forecast that Korea’s nominal per capita GDP will reach $36,750 in 2020, up 31 percent from last year’s $27,970. During the same period, Japan’s nominal per capita GDP will grow 6 percent to $38,714. The IMF’s latest macroeconomic estimates are presented in its World Economic Outlook, which is released
Nov. 5, 2015
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Mobile tourism center for ASEAN kicks off
The ASEAN-Korea Center on Thursday launched a moving tourism information center on the member nations of the Association of Southeast Asian Nations to promote the region’s culture and tourism among the Korean public.The ASEAN Roadshow will travel across the country through Saturday next week, starting from Seoul and making stops in Gwangju and Busan. Participants including ASEAN-Korea Center Secretary-General Kim Young-sun (fourth from left) attend the launch ceremony for the ASEAN Roadshow at C
NationalNov. 5, 2015
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Saenuri pushes ahead with budget review
The ruling party pushed ahead with the parliamentary review of next year’s budget on Thursday, despite the main opposition’s boycott of the National Assembly in its protest against the government’s reinstatement of government-issued textbooks. The ruling Saenuri Party’s lawmakers unilaterally opened the Assembly’s budget committee to resume the 2016 review that had been stalled since the opposition boycotted the Assembly on Nov. 3. The law stipulates that the committee must finish the review by
PoliticsNov. 5, 2015
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Volkswagen’s Asia sales hit by emissions scandal
TOKYO – Embattled German carmaker Volkswagen has suffered sales declines in some of its key markets in Asia amid an emissions-rigging scandal. The number of newly registered Volkswagen vehicles in Korea for the month of October plummeted nearly 70 percent from September registrations, according to data from the Korea Automobile Importers and Distributors Association.The total figure came to 947, about one-third of the registrations made the month before. New registrations for Audi, one of Volksw
IndustryNov. 5, 2015
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[Chon Shi-yong] Backwardness of Korean politics
Korean politics, despite the steady progress of democracy and the rule of law in recent decades, has yet to break away completely from the legacies of past authoritarian governments. One such legacy is the president keeping powerful agencies like the state prosecution under tight control. Another backward aspect is that the government still does not have qualms about twisting the arms of big businesses. There are two current cases that illustrate the backwardness -- the first one surrounding t
ViewpointsNov. 5, 2015
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Kakao to launch mobile chauffeur service
Kakao, operator of Korea’s most-used mobile messenger, announced on Thursday its plan to launch a mobile chauffeur service Kakao Driver.The new smartphone-based service is in line with the company’s efforts to integrate offline services into mobile businesses. Kakao’s chauffeur application Kakao Driver. (Kakao)Kakao Driver is aimed at “creating a healthy business environment through competition and providing more choices for users,” the company said in a press release. Kakao had previously deni
TechnologyNov. 5, 2015
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Shinsegae Simon to hold bargain event
Shinsegae Simon will launch a discount event called “Super Saturday” for two days at its premium outlets in three cities. Some 470 brands will participate in the sales event starting Saturday at the firm’s outlets in Busan, Yeoju and Paju. The company said the outlets will offer up to 20 percent extra off the outlet price and give out gift cards to Samsung and Hyundai card holders. During the two-day bargain event, Shinsegae Simon will host music concerts and free giveaways. Fashion brands inclu
IndustryNov. 5, 2015
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[Photo News] LG nurtures global talents
LG NURTURES GLOBAL TALENTS -- LG Group chairman Koo Bon-moo (left) poses with one of Global Challenger 2015 winners in Seoul on Thursday. The annual Global Challenger competition grants winners a range of benefits including scholarships for overseas expeditions, and employment and internship opportunities. (LG Group)
TechnologyNov. 5, 2015
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Seoul to provide allowance for unemployed youth
Seoul City on Thursday announced plans to give a monthly allowance to unemployed youth as part of its efforts to better bridge them to the labor market. Seoul Metropolitan Government said that it would offer 500,000 won ($440) a month starting from next year for unemployed young people aged between 19 and 29 who are in the low-income bracket. The city will provide the subsidy to 3,000 individuals on a trial basis for up to six months and expand the number to 15,000 over the next five years. A to
Social AffairsNov. 5, 2015