The Korea Herald

‘Korea suffers as China reduces imports of intermediate goods’

South Korea has faced a critical barrier in exports to China over the past decade as the Asian superpower has enhanced its policy to curb imports of intermediate goods, a Bank of Korea research report claimed Wednesday.Korea had enjoyed huge shipments of intermediate products, including knockdowns, before completion of assembly in China, which actively utilized its labor workforce at dirt-cheap rates from the late 1970s to the late 1990s, said the central bank report.It said the giant importer,

Oct. 14, 2015

Tunisian democracy group wins Nobel Peace Prize

A Tunisian democracy group won the Nobel Peace Prize on Friday for its contributions to the first and most successful Arab Spring movement.The Norwegian Nobel Committee cited the Tunisian National Dialogue Quartet “for its decisive contribution to the building of a pluralistic democracy” in the North African country following its 2011 revolution.“It established an alternative, peaceful political process at a time when the country was on the brink of civil war,” the committee said in its citation

World News Oct. 9, 2015

Tunisian democracy group wins Nobel Peace Prize

IS seizes villages in Syria

Syrian activists say the Islamic State group has launched a surprise attack in the northern province of Aleppo, seizing a string of villages from rebels.The Syrian Observatory for Human Rights says the advance by the extremists is the most significant in months.It comes amid a wave of Russian airstrikes and a ground offensive by the Syrian army in the country's central region.The Observatory said IS seized the villages of Tal Qrah, Kfar Qares and at least four other small villages in the norther

World News Oct. 9, 2015

Iran commander killed in Syria

Islamic State group jihadists have killed a senior commander in Iran's Revolutionary Guards in Syria, the elite branch of the Iranian military said Friday.General Hossein Hamedani was killed on Thursday by IS "during an advisory mission" in the northern region of Aleppo, a Guards statement said.Iran is a staunch ally of President Bashar al-Assad, sending Revolutionary Guard forces and military advisers to aid him against rebels seeking his overthrow. (AFP)

World News Oct. 9, 2015

Police raid VW headquarters as probe mounts in Germany, U.S.

German police swooped on Volkswagen's headquarters on Thursday, carrying away files and hard disks as the investigation into a massive pollution cheating scandal expanded on both sides of the Atlantic.Private apartments were also raided in Volkswagen's hometown of Wolfsburg and other cities, prosecutors told AFP, as police sought to secure documents and digital data that could point to those responsible for the deception of global proportions. Volkswagen cars in a glass parking tower

World News Oct. 9, 2015

Police raid VW headquarters as probe mounts in Germany, U.S.

Korea No. 1 candidate for new TPP membership: ex-White House official

South Korea will be considered a priority candidate when the existing members of the Trans PacificPartnership talk about accepting new members of the massive free trade agreement, a former White House official said Thursday.Matthew Goodman, who served as a former White House coordinator for Asia-Pacific Economic Cooperation until early 2012, also said in a phone interview that TPP will provide enormous opportunities for a struggling South Korean economy."I think Korea should be first in line whe

Foreign Affairs Oct. 9, 2015

Brazil, Germany, Argentina lose overnight

Three out of the few football powerhouses -- Germany, Brazil and Argentina -- were shut out overnight during their matches, respectively. The loses, however, are unlikely to hamper their advance to the Euro 2016 in France and the 2018 FIFA World Cup in Russia. Entrance sign with the logo at the FIFA headquarters Zurich, Switzerland (AFP)On Friday (Korean time), Ireland beat Germany, the 2014 World Cup winner, 1-0 during a Euro 2016 group D qualifying match. In the op

Soccer Oct. 9, 2015

Brazil, Germany, Argentina lose overnight

iPhone 6s to launch in Korea on Oct. 23

U.S. tech giant Apple Inc.'s latest iPhone 6s series is set to reach the South Korean market, industry sources said Friday, signaling another battle with domestic brands such as Samsung and LG.The iPhone 6s and iPhone 6s Plus, first showcased last month, will be available for purchase through the country's three mobile carriers on Oct. 23, the source said. Pre-orders are expected to start on Oct. 16.The devices first landed in a handful of countries including the United States and China on Sept.

Industry Oct. 9, 2015

Blatter suspended as FIFA president

Sepp Blatter is out of a job at FIFA. Michel Platini might never even get there.Two of the most powerful men in soccer were handed 90-day suspensions by the FIFA ethics committee on Thursday, essentially ending Blatter's 17-year reign as president and likely stunting Platini's chances of replacing him.Both Blatter and Platini, former allies who turned into rivals in the buildup to the most recent FIFA presidential election, have become embroiled in a Swiss criminal investigation. Blatter has bee

World News Oct. 9, 2015

S. Korea beat Kuwait for 4th straight win in World Cup qualification

South Korea defeated Kuwait 1-0 here Thursday for their fourth consecutive victory in the Asian qualification for the 2018 FIFA World Cup, inching closer to their ninth straight appearance in the quadrennial tournament.Midfielder Koo Ja-cheol put South Korea on the board with a header in the 12th minute, and it was all South Korea needed in the hard-fought victory at Al Kuwait Sports Club Stadium in Kuwait City.Coached by Uli Stielike, the undefeated South Korea stayed atop Group G in the second

Soccer Oct. 9, 2015

U.S. commander says N. Korea capable of firing nuclear missile to homeland

A top U.S. military commander has said he believes North Korea is capable of firing a nuclear missile that can reach the continental United States, but the country's ready to defend against such attacks.Adm. William Gortney, commander of U.S. Northern Command, made the remark at a think tank event Wednesday, saying he agrees with the intelligence community's assessment the North has the ability and technology to put nuclear weapons "on rockets that can range the homeland."It's not the first time

North Korea Oct. 9, 2015

Government plans to kick out underperforming public workers

The Finance Ministry plans to map out a guideline on dismissing employees at state-funded agencies or institutions with poor performance records, as part efforts to reform the public sector.The policy is an extension of the government’s recent pledge to vitalize the scheme to lay off low-performing civil servants, which was introduced in 2006.Deputy Prime Minister and Minister of Strategy and Finance Choi Kyung-hwan. (Yonhap)Aside from the civil service, the government has decided to expand the

Oct. 5, 2015

Government plans to kick out underperforming public workers

Financial markets face lackluster month as U.S. rate issue resurfaces

South Korea’s financial market is likely to face another tough test this month as the possibility of a base rate hike in the U.S. has come to the fore again, even as many market participants had expected it to remain unchanged for two more months.The nation’s stocks and currency appeared to be rising after the Chuseok holidays in late September. But the benchmark KOSPI dropped and the won lost ground against the U.S. dollar again on Friday after gaining for the second consecutive trading session

Oct. 2, 2015

Financial markets face lackluster month as U.S. rate issue resurfaces

New economic data inspires hope despite G2 risks

While the economic forecasts for Korea in the third quarter of the year have been mostly gloomy in the wake of the so-called G2 risks -- China’s economic slowdown and the likelihood of the U.S. key rate hike -- new data released Thursday offer some hope of a revival.The two external uncertainties still linger on, which is restricting both economic vitalization and hampering the stock and currency markets. Federal Reserve chair Janet Yel

Oct. 1, 2015

New economic data inspires hope despite G2 risks

Financial groups still reliant on banking profits

South Korea’s financial sector has yet to mature in terms of diversifying its profit-taking structure, data from the Financial Supervisory Service showed Tuesday.According to an analysis of eight financial groups by the regulator, the commercial banking segment still accounted for their major earnings during the first half of the year.Further, the proportion of earnings reaped by their banking business rose to 67.1 percent during the January-June period of 2015, up more than 10 percentage points

Sept. 29, 2015

Articles by 김연세