Most Popular
-
1
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
-
2
Seoul blanketed by heaviest Nov. snow, with more expected
-
3
NewJeans to terminate contract with Ador
-
4
Seoul snowfall now third heaviest on record
-
5
NewJeans terminates contract with Ador, embarks on new journey
-
6
Samsung shakes up management, commits to reviving chip business
-
7
Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
-
8
Heavy snow of up to 40 cm blankets Seoul for 2nd day
-
9
Korean Air gets European nod to become Northeast Asia’s largest airline
-
10
How $70 funeral wreaths became symbol of protest in S. Korea
-
[Graphic News] Travelers hit record high amid strong won
The number of tourists traveling overseas hit a January record, thanks to a strong won, travel portal Tourgo said Tuesday.The state-run online database engine revealed that the number of tourists headed abroad totaled slightly more than 1.4 million, a 21.8 percent increase from the previous month.In particular, about 50 percent more prospective travelers are visiting travel agencies, searching for tour packages to Japan, hoping for more economical deals thanks to the strength of the won against
Feb. 26, 2013
![[Graphic News] Travelers hit record high amid strong won](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/02/26/20130226001424_0.jpg&u=20130226204651)
-
KOMIPO signs contact for underground power plant
Korea Midland Power, or KOMIPO, said it signed a civil work contact for its underground power plant project in Seoul with a local construction consortium. With the contact worth 226 billion won ($208 million), the state-run power generation company will be able to push for the world’s first underground power plant project, to be completed in September 2016. The project will build two units for the 400-megawatt, LNG-fueled power plant and the two units will be responsible of the stable electricit
Feb. 26, 2013
-
Engel coefficient for low-income earners hits 8-yr high in 2012
The proportion of spending on food items by low-income earners in South Korea rose to the highest level in eight years in 2012, data showed Tuesday, suggesting that price hikes toughened the livelihoods of the economically weak people.According to the data by Statistics Korea, the so-called Engel's coefficient for households in the lowest 20 percent income bracket rose to 20.79 percent last year from 20.7 percent tallied a year earlier, marking the highest figure since 2004 when it was 20.8.The
Feb. 26, 2013
-
Travelers hit record high amid strong won
The number of tourists traveling overseas hit a January record, thanks to a strong won, travel portal Tourgo said Tuesday.The state-run online database engine revealed that the number of tourists headed abroad totaled slightly more than 1.4 million, a 21.8 percent increase from the previous month. In particular, about 50 percent more prospective travelers are visiting travel agencies, searching for tour packages to Japan, hoping for more economical deals thanks to the strength of the won against
Feb. 26, 2013
-
President Park uses Hyundai’s bulletproof limo
President Park Geun-hye rode in a bulletproof limousine made by Hyundai Motor Co. during her inauguration on Monday, Hyundai officials said, in what could be a symbolic move that underscores Hyundai’s growing prowess.Park used the presidential limousine, a stretched version of Hyundai Motor’s flagship luxury sedan, the Equus, when she traveled to the National Assembly from the national cemetery in southern Seoul.She became the first ever South Korean president to use a locally-made bulletproof l
Feb. 25, 2013
-
Seoul shares down 0.46 pct on U.S. woes
South Korean stocks closed 0.46 percent lower on Monday due to rising uncertainties stemming from the Unites States, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 9.37 points to 2,009.52. Trading volume was low at 333.3 million shares worth 3.1 trillion won ($2.85 billion) with losers outpacing gainers 477 to 317."Investor sentiment was dented by the economic uncertainties in the U.S., despite rising hopes for th
Feb. 25, 2013
-
Seoul shares open lower on U.S. concerns
South Korean stocks started lower Monday as investor sentiment was dented by rising concerns over the United States' sequestration, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.54 points, or 0.13 percent, to 2,016.35 in the first 15 minutes of trading.Shares lost ground across the board, with top chipmaker SK hynix moving down 1.14 percent and top flat panel manufacturer LG Display falling 0.49 percent. Top steelmaker POSCO lost 1.1 percent.Carmakers also traded l
Feb. 25, 2013
-
Group urges boycott of Japanese products
A major civic group dedicated to protecting mom-and-pop stores with some 6 million members and dozens of other civic groups here vowed on Monday to boycott all Japanese-made products in protest of Tokyo’s latest territorial claims to Dokdo.The groups said they would boycott Japanese goods such as Mild Seven cigarettes, Asahi beer, Nikon cameras, Uniqlo clothes, Sony electronics, Toyota, Lexus and Honda cars, starting March 1.There have been anti-Japan boycotts led by civic groups in the past, bu
Feb. 25, 2013
-
Economic democratization overshadows inauguration
The corporate sector appeared to be wary of the inauguration of the Park Geun-hye government, which has pledged to crack down on irregularities by large companies.The sector’s apprehension was starkly illustrated in the low attendance for today’s inauguration ceremony.Lee Kun-hee, chairman of Samsung Electronics and unarguably the most prominent figure in corporate Korea, had said he would be absent from the occasion, as he would be away in Hawaii, where some of his family members reside. In his
Feb. 24, 2013
-
More youths struggle with debt
Debt rescheduling requests filed by South Koreans in their 20s surged last year largely due to heavy financial burdens from repaying loans for school fees and living expenses amid low employment, data showed Friday.The number of applicants aged 29 or below for a personal debt rescheduling program stood at 6,809 last year, up 4.2 percent from 6,535 the previous year, according to the data by the Credit Counseling and Recovering Service. In South Korea, a borrower who is three months or more behin
Feb. 22, 2013
-
Seoul shares up 0.47 pct in late-morning trade
South Korean stocks traded 0.47 percent higher late Friday morning due to gains in carmakers and shipbuilders, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 9.46 points to 2,024.68 as of 11:20 a.m.Carmakers led the market gain, with No. 1 player Hyundai Motor advancing 1.39 percent and its smaller affiliate Kia Motors adding 0.73 percent. Top auto parts manufacturer Hyundai Mobis moved up 0.65 percent.Shipbuilders also gathered ground, with Hyundai Heavy Industrie
Feb. 22, 2013
-
Seoul shares open lower on U.S. losses
South Korean stocks got off to a weak start on Friday, tracking overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.68 points, or 0.33 percent, to 2,008.54 in the first 15 minutes of trading.Shares lost ground across the board, with market behemoth Samsung Electronics losing 1.35 percent, and top steelmaker POSCO falling 0.82 percent. No. 2 carmaker Kia Motors moved down 0.73 percent.U.S. stocks ended lower Thursday on concerns that the F
Feb. 22, 2013
-
[Graphic News] Korea’s ‘pain at the pump’ eases
How much do Korean drivers hit by high gasoline prices feel the pain at the pump? According to the latest Bloomberg Gas Price Ranking released last week, Korea ranked 32nd among 60 countries by pain at the pump, which is measured by the proportion of average daily income needed to buy a gallon of fuel.The average daily income in Korea was $65 and the share of a day’s income needed to buy a gallon (with a price of $6.77 per gallon) was about 10 percent, the report said. Last year, Korea ranked 20
Feb. 21, 2013
![[Graphic News] Korea’s ‘pain at the pump’ eases](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/02/21/20130221001260_0.jpg&u=20130221201128)
-
Extended network key benefit of Korea-Colombia FTA
Korea’s free trade agreement with Colombia builds on a nexus of FTAs for the Andean nation and will facilitate a trading platform for Korean companies to export to other economies in the region, according to Colombia’s trade minister.“We have an important internal market with a population of 50 million people, but we also have an important nexus of FTAs with many of the surrounding economies giving Korean companies a platform for exports into those other markets,” said Sergio Diaz-Granados, mini
Feb. 21, 2013
-
Russian energy giant eyes more cooperation projects with Korea
The inauguration of Korea’s new government may rev up cooperation between Korea and Russia, particularly in the energy field. President-elect Park Geun-hye, who is to take office on Monday, earlier pledged to stabilize domestic energy supplies and to achieve a logistics network covering Eurasia.Eying such potential, En+ Group, a Russia-based diversified mining, metals and energy group, is poised to seek more energy-related cooperation with Korea, including a cross-border electricity supply proje
Feb. 21, 2013
-
Sales at discount outlets, department stores plunge in Jan.
Sales at the country's major discount outlet chains plunged from a year earlier last month with sales of department stores also dropping significantly, the government said Thursday, pointing to worsening consumer sentiments here.The combined sales of the country's three major discount outlet chains fell 24.6 percent from the same period last year in January, according to the Ministry of Knowledge Economy. The three outlet chains are Lotte Mart, E-Mart and Homeplus.The ministry attributed such a
Feb. 21, 2013
-
Yongsan development project faces key decision this week
A crucial decision on the future of the faltering Yongsan project, the nation’s biggest property development worth about 31 trillion won ($30 billion), is expected to come this week as the developer and major shareholders are set to hold a separate meeting.The state-run KORAIL, the largest shareholder in the project, will hold a board meeting Thursday to decide whether to back the issuance of asset-backed commercial paper worth 300 billion won ($278 million), one of last resorts to finance the p
Feb. 20, 2013
-
S. Korea's external debt hits record high in 2012
South Korea's external debt hit a record high in 2012 as foreigners snapped up local bonds amid powerful monetary easing by advanced economies and credit rating upgrades for Korea, the central bank said Wednesday.The country's external debt totaled US$413.4 billion as of the end of December, up $14.7 billion from a year earlier, according to the Bank of Korea (BOK).It marked the first time that the country's yearly foreign debt surpassed the $400 billion mark.But in the fourth quarter, Korea's f
Feb. 20, 2013
-
Taxi operators to strike to pressure Assembly
More than 160,000 taxis across the country will halt operations Wednesday and launch a sit-in protest in Seoul in the afternoon to urge lawmakers to re-approve the pending taxi bill, taxi operators said Tuesday.The four major labor unions for taxi operators said about 160,000 out of 250,000 taxis will suspend services for 24 hours starting at 5 a.m. Wednesday to participate in a massive protest in Yeouido, the Seoul district where the National Assembly is located. The Assembly is currently holdi
Feb. 19, 2013
-
Asia’s hotel growth in 2013
The Asia Pacific region has been a strong economic performer these past several years, following the global recession. Economic performance continues to vary greatly around the world, but performances by some countries in Asia Pacific have largely remained stable. Although the region’s dependency on advanced economies appears to have reduced over time, owing to expanding regional demand and proliferation of South-South trade and investment, the region’s economies are still reliant on consumption
Feb. 19, 2013
![[Graphic News] Travelers hit record high amid strong won](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/02/26/20130226001424_0.jpg&u=20130226204651)
![[Graphic News] Korea’s ‘pain at the pump’ eases](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2013/02/21/20130221001260_0.jpg&u=20130221201128)
