South Korean construction companies are set to sign a series of big development projects in Iran when a business delegation visits the Middle Eastern nation next month to promote bilateral economic ties, industry officials said Saturday. President Park Geun-hye is to visit Iran from May 1-3 to discuss ways to promote business ties between the nations, leading a delegation of some 200 businesspeople from such areas as construction, energy and finance.Her visit, the first of its kind by a South Ko

Industry April 23, 2016

France was the biggest importer of South Korean cosmetics among European Union members last year as more beauty-conscious French fell in love with innovative Korean products, a report showed Saturday. France imported 17.41 million euros (2.1 billion won) worth of Korean cosmetics in 2015, accounting for 35 percent of total sales in Europe, the Korea Trade-Investment Promotion Agency said.  Korean cosmetics on sale (Yonhap)Britain was the No. 2 importer with 16 percent, trailed by Germany with 9

April 23, 2016

North Korean Foreign Minister Ri Su-yong had a brief, hand-shaking encounter with U.N. Secretary-General Ban Ki-moon at U.N. headquarters Friday as he attended a signing ceremony for a landmark climate agreement.Ri was the 76th representative to sign the "Paris Agreement," which was adopted in December to replace the Kyoto Protocol on climate change. After the signing at the podium of the U.N. General Assembly Hall, each participant shook hands with Ban. Ri Su-yong, Foreign Minister of North Kor

North Korea April 23, 2016

South Korea and China on Friday warned North Korea of "additional grave measures" if the North goes ahead with a fifth nuclear test, South Korea's chief nuclear envoy said.  North Korean leader Kim Jong-un inspects a newly built hydropower station near Mount Paektu inPaekam, Yangang Province bordering China. (Yonhap)Kim Hong-kyun, South Korea's Special Representative for Korean Peninsula Peace and Security Affairs, made the remarks after holding talks with his Chinese counterpart, Wu Dawei, in B

North Korea April 23, 2016

South Korea's top tech giant Samsung Electronics Co. will release a new budget smartphone in  China next month, industry sources said Sunday.The Galaxy C will be first rolled out in the Chinese market and later in the global market, they said.The Galaxy C will come with a 5.5-inch display and the price will be in the mid-200,000 won ($170) range.  The move apparently follows the release of similar budget phones by Chinese and Indian manufacturers, they added.Samsung has been making efforts to bo

Technology April 17, 2016

The strongest earthquake to hit Ecuador in decades flattened buildings and buckled highways along its Pacific coast, sending the Andean nation into a state of emergency. As rescue workers rushed in, officials said Sunday at least 77 people were killed, over 570 injured and the damage stretched for hundreds of miles to the capital and other major cities.Rescue workers work to pull out survivors trapped in a collapsed building after a huge earthquake struck, in the city of Manta early on Sunday. (

World News April 17, 2016

Eleven people remained missing Sunday in southern Japan from two powerful earthquakes that killed 41 people, as the U.S military announced it was preparing to join relief efforts and Toyota said it would suspend vehicle assembly in Japan over the course of next week because of quake-related parts shortages.Police search for missing persons trapped under houses destroyed by the earthquakes in Minami-Aso, Kumamoto prefecture on Sunday. (AFP-Yonhap)Thousands of rescue workers fanned out in often mo

World News April 17, 2016

[코리아헤럴드=박한나 기자] 한국은행이 추진 중인 이른바 ‘동전없는 사회’ 프로젝트의 일환으로 내년부터는 편의점이나 마트 등에서 돌려받는 거스름돈을 그 자리에서 즉시 교통카드로 충전할 수 있을 것으로 보인다. 당국은 관련 시스템 개발과 테스트를 올해 중으로 완료하고 내년부터 운영에 들어간다는 방침이다. 한국은행은 지난 1월 동전으로 발생하는 불편함을 해소하고 관리 비용을 절감하기 위해 선진국의 ‘현금없는 사회’ 모델을 바탕으로 우리나라를 2020년까지 ‘동전없는 사회’를 만들겠다고 밝힌바 있다. 한국은행 관계자는 “소비자들마다 잔돈을 활용하는 방법에 대한 선호도가 다른데 우선 교통카드부터 운영할 계획”이라고 밝혔다. 예를 들어 상점에서 현금 1만원으로 9천500원짜리 상품을 구입할 때 거스름돈 500원을 받지 않고 교통카드로 충전할 수 있다.올해 편의점과 마트, 약국, 커피숍 등 주요 가맹점 대상으로 시범테스트를 거쳐 운영시스템 설계 및 구현 모델 발굴을 완성하겠다는 계획이다.이 관

한국어판 April 12, 2016

Nexon Korea, a subsidiary of Tokyo-based Nexon, a major player in the Asian gaming market, has acquired U.S.-based Big Huge Games for an undisclosed fee in a move to expand its global footprint.“Combining Big Huge Games’ skilled workforce and game development capabilities with Nexon’s global publishing expertise will enable us to consistently provide DomiNations players with fresh content and engaging experiences in the long term,” the company said. Prior to the acquisition, the two companies wo

March 11, 2016

This is the third installment of a three-part series looking into Korean companies’ dividend payout policies, the reasons behind them and future prospects. -- Ed.Motivated by low interest rates and volatile markets, many more investors are flocking to dividend-paying stocks and funds as they look for stability in their portfolios. Income-oriented investors, who have been reluctant to move into dividend-paying stocks due to stingy returns, are now paying more attention as analysts expect the divi

March 10, 2016

South Korea has become the third-largest mergers and acquisitions market in Asia, as big-ticket deals by large conglomerates pushed the total volume to an all-time high in 2015, data showed Wednesday.A total of 362 deals worth $87.5 billion were signed last year, nearly a threefold increase in deal size from the figure in 2012, according to data by Mergermarket. Korea accounted for 9.4 percent of the total deal amount in Asia. China was the region’s top M&A market with $486.9 billion worth of de

March 9, 2016

Korea’s savings banks slashed interest rates on time deposits to below 2 percent, approaching the levels offered by commercial banks, amid the central bank’s record-low key rate policy.  (123rf)The average interest rate on 90 fixed-term deposit products with a one-year maturity declined to 1.99 percent a year as of Tuesday, from the 2.67 percent recorded on Jan. 1 last year, according to data from the Korea Federation of Savings Banks on Thursday. The data showed that 2.32 percent was the highes

March 3, 2016

After 60 years in operation, South Korea’s bourse has become the world’s 14th-largest stock exchange and is now eyeing to sharpen its global competitiveness by overhauling its centralized operation system. (Korea Exchange)Launched in 1955 to trade shares of just 12 listed companies, Korea Exchange, the sole securities exchange operator, now lists over 1,927 companies, including 770 on the main board KOSPI and 1,157 in the tech-laden KOSDAQ with a market cap of more than $1.23 trillion. “Korea’s

March 2, 2016