Most Popular
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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Seoul blanketed by heaviest Nov. snow, with more expected
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NewJeans to terminate contract with Ador
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Seoul snowfall now third heaviest on record
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Samsung shakes up management, commits to reviving chip business
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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How $70 funeral wreaths became symbol of protest in S. Korea
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NewJeans terminates contract with Ador, embarks on new journey
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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Companies turn eyes to overseas plantations
More and more Korean companies are turning their eyes to overseas plantations as part of their investments.Unlike other industries suffering from the global protracted economic slump, companies’ investments in overseas plantations have dramatically increased, according to the Korea Forest Service.In a report released by the KFS last month, Korean companies established forest plantations of about 26,000 hectares ― 90 times the size of Yeouido ― in six countries. They included Indonesia, Cambodia,
July 9, 2013
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S. Korea, Russia to cooperate on harbor development in Far East, Arctic Sea
South Korea and Russia agreed Tuesday to cooperate on developing harbors in the Russian Far East and the Arctic Sea as well as on other projects as part of efforts to boost bilateral ties, Seoul's finance ministry said.The two countries also agreed to improve cooperation in such fields as trade, investment, resource development and agriculture, according to the ministry.The agreements were reached at a South Korea-Russia joint committee meeting on the economy, science and technology held in Seou
July 9, 2013
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Incheon, Asiana popular among Chinese passengers
Incheon International Airport and Asiana Airlines have grown popular among Chinese travelers over recent years as a pleasant intercontinental flight transfer channel. Of the 291 passengers who were on board Asiana Airlines’ Boeing 777 that crash-landed in San Francisco on Saturday, local time, 141 were of Chinese nationality.This was almost double the number of Koreans or Americans, at 77 and 61, respectively.The deaths in the crash were two Chinese teenage girls, Ye Mengyuan and Wang Linjia, wh
July 8, 2013
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Korean phones most popular in EU: KOTRA
Backed by the rise of K-pop and the effectuation of the Korea-EU Free Trade Agreement, Korean mobile phones have become the most popular product in the European market, according to the Korea Trade-Investment Promotion Agency.The Korean Wave and the bilateral trade pact, in a combined score, have so far produced an economic effect equivalent to 1.58 trillion won ($1.37 billion), the state-run agency said Monday through a report.The effect of the former was some 665.6 billion won, almost double t
July 8, 2013
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KCCI chairman offers resignation
Sohn Kyung-shik, chairman of the Korea Chamber of Commerce and Industry, expressed his willingness to resign from the post, chamber officials said Monday.Chairman Sohn delivered his intention to a group of chamber leaders, saying it is difficult for him to carry on his duty as he must devote himself to managing CJ Group, the officials said.Sohn is co-chairman of CJ Group, along with Lee Jay-hyun, who was arrested last week on charges of embezzlement and tax evasion. Sohn currently leads CJ Group
July 8, 2013
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Korea, Switzerland to cooperate on creative economy
Minister of Science, ICT and Future Planning Choi Mun-kee met with Johann Schneider-Ammann, the head of Switzerland’s Federal Department of Economic Affairs, Education and Research, on Monday to discuss Korea’s creative economy initiative. Welcoming the 25 delegates from the Alpine nation, Minister Choi sought much advice from them. “I would like to learn the know-how of maintaining stable economic growth despite the sluggish world economy and even outperforming those in other European nations,”
July 8, 2013
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[Graphic News] Students’ top dream companies
According to a survey conducted by Incruit, an online job portal, Samsung Electronics topped the list of companies at which university students would like to work most after graduation. It surveyed 747 university students across the nation.
July 7, 2013
![[Graphic News] Students’ top dream companies](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/07/07/20130707000325_0.jpg&u=20130707205136)
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Boeing 777 has record of only minor accidents
Asiana Airlines’ Boeing 777-200ER jetliner that crashed at San Francisco International Airport over the weekend has been assessed as a next-generation model.The passenger jet, which was introduced in the local market in 2006 as a subordinate model of the Boeing 777 series, has also been picked as one of several aircraft that ensure a high-level of passenger safety with few technical defects.“It has been seven years since the crashed model was manufactured. A jetliner with an operating age under
July 7, 2013
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Return of weak yen casts cloud over Korean exports
With the weak yen trend expected to continue, local think tanks are issuing a negative outlook for exports for the second half of the year.“The rise in the yen against the dollar above the psychological mark of 100 last week, again in a month, is considered a trend among market watchers, not a temporary jump,” said Chung Sung-choon from the Korea Institute for International Economic Policy.The movement toward devaluation of the yen regained steam from the end of June when the global financial ma
July 7, 2013
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Korea’s economic recovery delayed: KDI
SEJONG (Yonhap News) ― South Korea’s economic recovery is being delayed with domestic demand and production still weak, a state-run think tank said Sunday in its latest assessment on the country’s current economic conditions.The report unveiled by the Korea Development Institute is based on already unveiled economic statistics, including those on industrial output, exports and facility investment. “The Korean economy’s recovery is delayed amid a slowdown in production and domestic demand,” the K
July 7, 2013
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State bond sales hit record high in first half
Sales of state bonds reached a record high in the first half of the year as the government, facing a revenue shortfall, is preparing to increase economic stimulus spending, data showed on Sunday.According to the data compiled by the Korea Financial Investment Association, state bond sales amounted to 71.85 trillion won ($62.9 billion) in the January-June period, up 18 percent from a year earlier.The first-half increase in state bond sales also marks the sharpest gain since the first half of 2009
July 7, 2013
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Samsung retains top slot in NAND flash memory market
Samsung Electronics Co., the world’s biggest computer memory chipmaker, held on to the top position in the NAND flash memory chip market in the first quarter of the year on the back of its cutting-edge technology, data showed on Sunday.According to the data compiled by market information provider iSupply, Samsung sold NAND flash memory chips worth $2.03 billion in January-March, accounting for 38.5 percent of the global market.NAND flash memory chips are used for smartphones and other mobile dev
July 7, 2013
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KOMIPO to build world’s first underground power facility
The state-run power supplier Korea Midland Power Corporation will build a new thermal power generation plant in northern Seoul, which is to become the world’s first-ever urban underground power facility, officials said.On Friday, KOMIPO and Doosan Heavy Industries & Construction signed a contract for the latter to supply key parts for two new complex fuel generators to be built in the subterranean space of the Seoul Thermal Power Plant in Mapo.The generators, worth 1.18 trillion won ($1 billion)
July 5, 2013
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Nuclear reactor at Hanwool plant halts operation
A nuclear reactor at South Korea’s Hanwool Nuclear Power Plant stopped operating Friday due to what appears to be a technical problem, plant operators said.An investigation was underway to find the exact cause of the problem, but the state-run Korea Hydro and Nuclear Power Co. said there were no immediate safety threats.The reactor at the power plant, previously called the Uljin Nuclear Power Plant, halted operations at 3:36 p.m.The shutdown of the reactor with a generation capacity of 1 million
July 5, 2013
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Citizens puzzled by anti-barbecue law
To the disappointment of many, and not to mention contrary to previous media reports, barbecuing at Hangang River parks will still be banned, according to the Ministry of Land, Infrastructure and Transport.“According to the Urban Park Act, Hangang River parks are classified as river districts, not as urban parks,” the ministry said Friday through a statement. “Grilling and barbecuing by the river will thus continue to be forbidden, regardless of the revision of the park law.”The ministry issued
July 5, 2013
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Minimum wage set to rise 7.2 percent next year
Korea’s minimum hourly wage will rise 7.2 percent to 5,210 won ($4.57) next year, a three-party council of government, labor and business representatives said Friday.Under the agreement, the minimum wage of laborers working 209 hours a month will be increased to 1.08 million won. About 2.56 million workers will benefit from the deal, it added.“Diverse factors including economic growth rate, price inflation and wage increase rates of other income groups have been reflected in the 7.2 percent (wag
July 5, 2013
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Korea, China optimistic on FTA
Korea and China achieved general consensus on the modality and range of their bilateral free trade agreement during the sixth round of talks held in Busan this week.Their outcome, however, fell below the expectations that the recent summit between President Park Geun-hye and Chinese leader Xi Jinping would add immediate momentum to the ongoing negotiations.“We came close to reaching a final agreement in most issues, including the product and non-product sectors,” said an official of the Northeas
July 4, 2013
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STX Heavy Industries to build desulfurization facilities
STX Heavy Industries has won a contract to build desulfurization facilities for Korea Western Power Corp.’s thermoelectric power plant units 9 and 10 in Taean, South Chungcheong Province, company officials said. The two contracts together are worth nearly 100 billion won ($87.7 million). STX plans to kick off its construction by delivering equipment to unit 9 this November, with a forecasted December 2016 completion date. The company will provide end-to-end engineering, procurement and construct
July 4, 2013
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Feeling the spirit of Joseon Dynasty
Visiting rural areas with well-preserved traditional houses is a common desire of city dwellers. Oeam Village, located 8 km south of Onyang in Asan, South Chungcheong Province, has been used as a location for several films such as “Taegeukgi: The Brotherhood of War” (2004) and “The Classic” (2003). The origin of the village goes back to the middle of the Joseon era, about 500 years ago. The noble Lee family of Yean settled in the area and its descendants have taken root there. Oeam Village has b
July 4, 2013
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Daraengi Village boasts picturesque landscape
Located at the southern tip of Korea, Daraengi Village was not only on the list of “Rural-20” awardees last year but has also been on the list of 100 recommended local tourist sites by the Korea Tourism Organization for two consecutive years. The village was also named one of 50 beautiful places to visit in Korea by CNN. Some 230,000 tourists visit the village every year.The well-preserved village features the extraordinary sight of “daraengi,” or tiny paddy fields, on a steep mountain slope aga
July 4, 2013
![[Graphic News] Students’ top dream companies](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/07/07/20130707000325_0.jpg&u=20130707205136)
