Korea’s financial regulator has issued a warning to two local credit card companies -- Hana Card and Lotte Card -- ordering them to improve their customer management system, particularly with regard to money laundering.Corporate logo of Hana Card (Hana Card)This comes after the Financial Supervisory Service reviewed their operations last year and uncovered some “defects.”“We did not enforce disciplinary measures against the two card companies, but issued a warning about their systems, ordering t

March 9, 2016

The Export-Import Bank of Korea plans to issue dollar-denominated bonds to raise $3 billion to $4 billion to help finance Korean companies seeking to expand overseas through exports, a person familiar with the situation said.The scale of debt financing through global bonds this year, the person said, will be similar to that of last year when the bank raised about $5 billion.It will likely select about five to six U.S. and Europe-based advisors such as investment banks for dollar-denominated bond

March 9, 2016

Sheraton Grande Walkerhill offers spring packagesSheraton Grande Walkerhill is offering two types of packages for couples and families.The “Blooming Walkerhill” package, which is offered March 1-May 31, includes an overnight stay, breakfast and a voucher for “Tasty Box.”Tasty Box is an eco-friendly concept cafe built with shipping containers. It uses solar power from panels. The cafe offers a range of light snacks and desserts from handmade sausages to ice cream. The second package called “Bloom

Travel March 4, 2016

Banyan Tree introduces ‘Taste Odyssey’ diningBanyan Tree Club & Spa Seoul’s Club Member’s Restaurant is presenting “Taste Odyssey V” from Feb. 26-27. Taste Odyssey is held once a month and this month’s featured ingredient is fresh Byeolgyo cockles. This uniquely Korean dining event will use chamkkomak and pikkomak varieties of these little clams, delivered directly from Yeojaman, the area famous for cockles, located in the Byeolgyo coastal area. Chamkkomak is famous as one of the dishes served t

Food Feb. 19, 2016

‘Very Vary Berry’ at Banyan Banyan Tree Club & Spa Seoul is launching the “Very Vary Berry” dessert buffet at Chez Blanc, located on the lobby floor, until March 1. The buffet offers 19 different varieties of the hotel’s favorite sweets, Mont St. Clair’s desserts, with a seasonal strawberry flair. The list includes macarons with strawberry ganache, strawberry cream Mont Blancs, choux and éclairs filled with strawberry cream and cream cheese.The “Very Vary Berry” buffet is open Monday to Thursday

Culture Jan. 22, 2016

Ever wondered what it would be like traveling in space? Or diving deep underwater alongside whales and turtles? How about being a hero fighting crime?Ordinary people may not be able to experience these firsthand, but they can indirectly experience them through the emerging technology of virtual reality.Visitors try out virtual reality headsets at the Center for Creative Economy and Innovation in Pangyo, Gyeonggi Province. (KT)Just across from the headquarters of local PC gaming giant NCsoft, the

Film Jan. 13, 2016

Lotte Hotels & Resorts’ new concept lifestyle hotel L7 Myeongdong seeks to promote itself as “hip, fun and trendy,” targeting mostly young female tourists in their 20s and 30s. Hotel Lotte CEO Song Yong-deok speaks during a press conference at L7 Myeongdong in Seoul on Monday. (Hotel Lotte)“We basically want L7 to run as a non-Lotte brand ― a totally new hotel ― and move away from our existing image,” said Hotel Lotte president & CEO Song Yong-deok at a press conference at L7 Myeongdong on Monda

Travel Jan. 12, 2016

GWANGJU ― If you exit the subway station connected to the Asia Culture Center in Gwangju thinking that the multicultural complex will be similar in scale to the Seoul Arts Center in southern Seoul, you should think again. Asia Culture Center in Gwangju (Culture Ministry)With its five interconnected buildings based on different yet synergistic and convergent themes, the Asia Culture Center strikes awe in visitors, who marvel at the architecture and the interior maze of exhibition and performance

Culture Dec. 27, 2015

Lotte Hotel, part of Lotte Group, will open a new lifestyle concept hotel called “L7 Myeongdong” in Seoul on Jan. 12.The L7 will offer stylish facilities, where hotel staff will sport jeans, oxford shirts and slip-on shoes in bright and lively colors in order to appeal to guests as “friendly and caring,” the hotel affiliate said.The hotel, situated in Myeong-dong ― Seoul’s downtown shopping district frequented by hallyu tourists ― will primarily target female guests in their 20s-40s who enjoy st

Culture Dec. 23, 2015

This is the last installment in a three-part series featuring athletes who help people transform their lives. ― Ed.Jung A-reum (Jung Areum)Beauty must be gained through hard work and perseverance, said Jung A-reum, a celebrity lifestyle and fitness trainer and former Miss Korea beauty contest winner.Those in pursuit of it must first learn how sports or regular exercise can help improve their physical and mental beauty.“The problem in Korea today is that people take sports or exercise too lightly

Culture Dec. 23, 2015

The National Library of Korea is hosting an exhibition of award-winning content, including webtoons, photography and videos, at its digital library until Dec. 23, according to the Ministry of Culture, Sports and Tourism and Korea Culture and Information Service. The National Library of Korea holds the “Hello, Korea” exhibition featuring award-winning content through Dec. 23 in Seoul. (KOCIS)KOCIS held two competitions ― “Talk Talk Korea” and “Peace Flag Campaign” ― last May to mark the 70th Libe

Culture Dec. 8, 2015

Controversy over the authenticity of the late artist Chun Kyung-ja’s “Beautiful Woman” has been reignited with family members of the late artist issuing an ultimatum to the state-run National Museum of Modern and Contemporary Art, which is in possession of the painting.  Artist Chun Kyung-ja (Yonhap)This time, Sumita Kim, the third of Chun’s four children, and Chun’s son-in-law Muhn B.G. said they would take legal actions if the museum does not formally apologize and correct its past wrongdoings

Culture Dec. 8, 2015

The 52nd Daejong Film Awards on Friday were not quite a star-studded affair as the nominees for top prizes, including Best Actor and Actress, skipped the annual ceremony. Although many nominees who did not attend gave reasons such as scheduling conflicts, others openly boycotted the awards, criticizing the organizing committee for poor management and lack of independence from the government.The 52nd Daejong Film Awards were held in Seoul on Friday despite nine nominees for best actor and actress

Film Nov. 22, 2015