Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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KEB’s Q2 net jumps more than eightfold
Korea Exchange Bank, South Korea’s No. 5 lender, said Wednesday that its second-quarter earnings jumped more than eight times from a year earlier on a one-off profit from the sale of a stake in a local builder and improved interest margins.Net income amounted to 1.13 trillion won ($1.05 billion) in
Aug. 10, 2011
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Money supply growth hits 7-year low
South Korea’s money supply grew at the slowest pace in more than seven years in June as liquidity offered by the government decreased despite brisk bank lending, the central bank said Wednesday.The country’s M2, a narrow measure of its money supply, reached 1,697.2 trillion won ($1.57 trillion) in J
Aug. 10, 2011
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Baby boomers reliant on state pension plan
Experts call for more aggressive pension managementTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following is the fourth of the eight-p
IndustryAug. 10, 2011
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Baby boomers looking to diversify real estate-heavy retirement savings
For Korea’s baby boomer generation, post-retirement plans usually revolve around real estate investments. But this longstanding strategy, which relied solely on a continuously booming housing market, is being reconsidered as apartment prices remain in a protracted slump. Baby boomers here, many
Aug. 10, 2011
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China’s trade surplus surges to $31.5b
China’s trade surplus surged to $31.5 billion in July, the highest level in more than two years, as exports rose to a record level. Outbound shipments climbed 20.4 percent from a year earlier, compared with the 17 percent median forecast in a Bloomberg News survey of 25 economists. Imports climbed 2
IndustryAug. 10, 2011
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Apple world’s most valuable U.S. firm
NEW YORK (AP) ― Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company.The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon’s. The two companies are so close that Apple is likely to keep the top spot soon.Apple Inc.’
IndustryAug. 10, 2011
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KT to cut mobile service rates
South Korea’s telecom giant KT Corp. is considering cutting its monthly service rates by 1,000 won ($0.93) in line with the government’s efforts to stem high inflation, a company official said Wednesday.“We’ve mapped out a draft plan to lower mobile phone rates,” said an official from KT. “We are in
Aug. 10, 2011
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Asian stock markets jump on Fed's low rates pledge
BANGKOK (AP) -- Asian stock markets jumped Wednesday following a surge on Wall Street triggered by a Federal Reserve pledge to keep interest rates super low for the next two years to help the ailing U.S. economy.Oil prices rose to near $82 a barrel, while the dollar slid against the yen and the euro
Aug. 10, 2011
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Apple wins order against Samsung tablet in EU
Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing the Galaxy Tab 10.1 tablet computer in the European Union, except the Netherlands. (Bloomberg)Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing th
TechnologyAug. 10, 2011
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S. Korea's jobless rate falls to 3.3 pct in July
SEOUL, Aug. 10 (Yonhap) -- South Korea's jobless rate declined in July from a year earlier as the number of jobs in the country increased, fueled by exports and expanded industrial output, a government report showed Wednesday.The jobless rate stood at 3.3 percent last month, down from 3.7 percent a
Aug. 10, 2011
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Dow soars 429 points on Fed statement
NEW YORK (AP) _ The Fed spoke _ and financial markets rallied.The Dow Jones industrial average surged more than 429 points, its tenth-highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.The Federal Reserve pledged t
Aug. 10, 2011
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U.S. stocks rally after Fed vows to keep rate near zero for 2 years
WASHINGTON (AP) -- The Federal Reserve sketched a dim outlook for the U.S. economy Tuesday, suggesting it will remain weak for two more years. As a result, the Fed said it expects to keep its key interest rate near zero through mid-2013. Federal Reserve Chairman Ben Bernanke (AP-Yonhap News)It's the
Aug. 10, 2011
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Bargain hunting push up US stocks
NEW YORK (AP) -- Bargain hunters helped push the Dow back above 11,000 Tuesday.The Dow Jones industrial average rose 218 points, or 2 percent, to 11,028 in early afternoon trading. On Monday, the Dow had its worst day since 2008, plunging 634.76 points as fear coursed through global markets.``Stocks
Aug. 9, 2011
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US stock futures rise after big fall
NEW YORK (AP) -- U.S. stock futures rose Tuesday, but only after swinging wildly in overnight trading following the worst day for stocks since 2008.The Federal Reserve plans to meet Tuesday on interest-rate policy. The central bank already has kept its key interest rate at a record low of nearly zer
Aug. 9, 2011
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Asia to keep buying US debt despite downgrade
BEIJING (AP) -- China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poor's.Some governments such as Germany and Australia have stronger credit ratings than the United State
Aug. 9, 2011
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Seoul decides to ban short selling
The Financial Services Commission said Tuesday that it has decided to bar investors from short selling on the local stock market over the next three months.Amid the instability of the Korea Exchange in the wake of the European debt crisis, the regulator reinstated the ban for the first time in more
Aug. 9, 2011
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Officials strive to placate investors
Authorities say ready to supply liquidity if necessaryFinancial authorities have been striving to restore investor sentiment, downplaying concerns over fiscal woes in Europe and the United States.The Financial Services Commission and its executive body, the Financial Supervisory Service, held
Aug. 9, 2011
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Korea rattles from biggest 2-day drop since 2008
Market crashes while officials try to soothe investorsSeoul stocks continued to drop, hitting a 13-month low Tuesday as institutional investors shunned local shares on fears that Asia’s fourth-largest economy could be hit hard by the historic debt crises in the U.S. and Europe.The KOSPI dipped as lo
Aug. 9, 2011
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Market sees similarities, differences from 2008
As Seoul shares plummeted to a 13-month low and concerns about an economic crisis rose, some analysts said the market turmoil looked similar to the financial crisis of 2008.They said the start of the tumbling of shares was comparable to the global equity sell-off that occurred in 2008, which was spa
Aug. 9, 2011
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U.S. crisis may have little impact here: BOK
The historic downgrade of the U.S. credit rating late Friday and subsequent mass sell-off in equity markets around the world have threatened to hamper Korea’s economic growth, leaving few options for the central bank in its scheduled policy-setting meeting this week.Standard & Poor’s downgraded the
Aug. 9, 2011
