Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Medical standoff deepens as doctors reject new med school plan, talks
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Samsung smartphone to slow in growth in 2018: SA
Samsung Electronics’ smartphone sales are predicted to see the slowest growth next year among the top five smartphone makers, reaching a market share of below 20 percent, according to the US research firm on Thursday. According to Strategy Analytics, the Korean tech giant is predicted to have a 20.5 percent market share this year with shipment of around 319 million units. Next year, the firm will see its share fall to 19.2 percent, with shipment dropping to 315 million units, SA predicted on the
IndustryDec. 14, 2017
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Facebook Korea to stop using Ireland tax avoidance scheme
Facebook is slated to begin reporting taxes to the South Korean government by 2019, in line with its newly adopted tax policy under which the social networking giant will pay taxes in the country where sales are made, instead of booking all revenue in Ireland.Facebook announced this week that it will move toward a “local selling structure” in countries where the company operates offices to support sales to local advertisers, addressing growing calls for greater transparency by governments and po
TechnologyDec. 14, 2017
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Japanese movie ‘Your Name’ Korea’s top searched term on Google in 2017
Google Korea said Thursday that “Your Name,” a Japanese animated drama movie that hit South Korea’s theaters in January, was the most-searched term by users in Korea in 2017, with many other films and media content filling the local Top 10 search list. Google announces its annual rankings for the top Google searches each year, offering a glimpse into what people were most interested throughout the year. In Korea, Google’s search engine comes third in usage after local players Naver and Kakao-own
TechnologyDec. 14, 2017
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Korea to shift toward renewable energy, natural gas
South Korea will shift its reliance from coal and nuclear power toward renewable energy and natural gas to address environmental concerns and safety issues, the energy ministry said Thursday.The Ministry of Trade, Industry and Energy announced its eighth basic plan for long-term electricity supply and demand in a meeting with a parliamentary committee, which includes an energy road map for 2017-2031."While past plans were set with a focus on a stable power supply and economic efficiency, the lat
IndustryDec. 14, 2017
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US rate hike to have little impact on Korean market
South Korea's central bank chief said Thursday that the latest rate rise by the US Federal Reserve will have little impact on the local financial market, as the move was widely expected."The market has long anticipated the Fed's base rate increase this month," Bank of Korea Gov. Lee Ju-yeol told reporters. "The BOK is focused on the Fed's pace of rate rises next year and has kept its 2018 outlook unchanged."He said the Fed remained less "hawkish" than expected despi
MarketDec. 14, 2017
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Lotte's hypermarket chain to stop selling cigarettes from next year
Lotte Mart, the third-largest discount store chain in South Korea by revenue, said Thursday that it will stop selling cigarettes next year as it is pushing to specialize in healthy products.Lotte Mart CEO Kim Jong-in said the decision is part of his company's commitment to transform itself into a health-oriented enterprise.Lotte Mart said it will expand the number of wholesome foods at its shelves and invest in developing new health products. (Yonhap)The company said its cigarette sales account
IndustryDec. 14, 2017
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Korea's ICT exports rise for 12th straight month in Nov.
South Korean exports of information and communication technology products increased for the 12th month in a row in November on upbeat sales of semiconductors, government data showed Thursday.A total of $18.62 billion worth of ICT products were shipped overseas last month, up 25.9 percent from a year earlier, according to the data compiled by the Ministry of Science and ICT.The shipment of ICT products is the second highest tallied so far, trailing only the $19.2 billion reached in September. (Yo
TechnologyDec. 14, 2017
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Vulnerable households likely to suffer from increased debt repayments after rate rise: BOK
An interest rate rise in South Korea will increase the debt repayment burdens of vulnerable households who over-extended themselves on mortgages during the low rate period, the central bank said Thursday."In general, household and corporate borrowers will be able to afford an increase in debt repayment incurred by a 1 percent point rise in loan rates, if they have solid income and financial assets," the Bank of Korea said in a report submitted to the parliament. "But those who too
MarketDec. 14, 2017
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Fed move heralds possible rate reversal in US, Korea
The US central bank's latest rate hike has raised the possibility of a reversal of key interests in the world's top economy and South Korea next year that could destabilize the local financial market, analysts said Thursday.In a widely expected move, the US Federal Reserve hiked interest rates for the third time this year to 1.5 percent Wednesday and retained its forecast for three rate increases in 2018.With the hike, America's benchmark interest rate has equaled that of South Korea. In Novembe
MarketDec. 14, 2017
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Samsung set to lose ground in smartphone market in 2018: Strategy Analytics
Samsung Electronics Co. is forecast to lose ground next year in the smartphone segment, an industry tracker said Thursday, apparently due to the rise of Chinese manufacturers.Strategy Analytics said Samsung Electronics is expected to post a market share of 19.2 percent in the global smartphone industry in 2018 by shipping 315 million units, down from 20.5 percent estimated for this year.The weaker outlook comes as US rival Apple Inc. is expected to expand its presence in the high-end segment, wh
IndustryDec. 14, 2017
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Record number of 20-somethings give up search for work in Nov.
A record number of South Koreans in their 20s gave up their search for work in November amid a severe job crunch, government data showed Thursday.A total of 284,000 South Korean 20-somethings were outside the labor force and did nothing to look for jobs last month, according to the data from Statistics Korea.The tally was up 48,500 from a year earlier and marked the highest-ever level for November. The number of 20-somethings giving up looking for work had been on the rise over the past se
EconomyDec. 14, 2017
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Gold funds fare ill ahead of US rate decision
Gold funds in South Korea have fared poorly over the past months ahead of a US interest rate decision, a market tracker said Thursday.Those funds chalked up an average return of minus 11.6 percent over the three months to Tuesday, the worst performer among local investment funds worth 1 billion won ($920,000) or more, according to financial information provider FnGuide.Comparable yields were minus 5.6 percent for stock funds, minus 3.3 percent for funds investing in farm products and minus 2.7 p
MarketDec. 14, 2017
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Corporate activity hampered by steep rise in costs
Concerns are growing that a steep rise in corporate costs to be incurred by the Moon Jae-in administration’s anti-business policies will hold back companies from increasing investment and employment.Korean businesses are now bracing for a corporate tax hike, a minimum wage increase and a reduction in work hours in the coming year, which experts forecast will see them shoulder combined additional costs of 36.5 trillion won ($33.4 billion).Ruling party lawmakers, joined by some legislators f
EconomyDec. 13, 2017
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Samsung partners with Renovo for autonomous vehicle tech
Samsung Electronics and Revono, a US mobility software company, will collaborate to develop “highly-automated vehicle technology,” the two companies said Wednesday. The two have been working together since the beginning of this year on enabling the Smart Machines Group under the Samsung Strategy and Innovation Center to use Renovo’s Aware operating system in its first fleet of test vehicles in California, the US company said.Aware is a scalable automated mobility operating system which merges so
TechnologyDec. 13, 2017
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Sales volume of Posco Suzhou plant reaches 5-million-ton mark
The sales volume of automotive steel processed at Posco’s plant in Suzhou, China, has surpassed the 5 million ton mark, riding on the fast-growing car market in the country, the company said Wednesday. The plant, located west of Shanghai, known as China’s auto cluster, has reached the 5-million-ton mark faster than any other plants operated by Posco around the world, it added in a statement. Workers at Posco Suzhou plant celebrate the plant surpassing 5 million ton mark of selling automotive ste
MobilityDec. 13, 2017
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Korea to supply 1 million registered private rental properties over next 5 years
South Korea will supply 1 million "registered private rent houses" in the next five years to help tenants keep a stable residence without worrying about a sharp increase in rental costs, the transport ministry said Wednesday. If the owner of multiple homes registers one of them as a rental house with the government, the home is called a registered private rental home. The homeowner receives some tax benefits but is not allowed to sell the house for up to eight years, according to the Ministry of
IndustryDec. 13, 2017
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Korea unveils measures to tame cryptocurrencies
South Korea rolled out plans Wednesday to curb speculation on cryptocurrencies, including trade bans for minors and ways to impose taxes on investment returns, in its resolve to tame the country’s bitcoin craze without completely shutting it off. Banks in Korea that provide virtual bank accounts for cryptocurrency trades will have to verify the identification of account holders when creating new ones and prohibit minors from opening accounts, according to the plan.The regulators will also
MarketDec. 13, 2017
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Koo says LG will concentrate on electric vehicles, energy
South Korean conglomerate LG’s second-in-command Vice Chairman Koo Bon-joon on Tuesday said the group will put its top priority on electric vehicle and energy businesses in the next 30 years, with an enhanced focus on business-to-business markets. Koo, the third son of honorary Chairman Koo Cha-kyoung, is currently at the forefront of leading LG’s new businesses that will drive future growth, although his older brother Chairman Koo Bon-moo is at the helm of the group. The younger brother preside
TechnologyDec. 13, 2017
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Intellectual assets matter, Samsung-Apple case shows it: WIPO
SINGAPORE -- The long-drawn-out legal battle between Samsung Electronics and Apple may be a headache for the world’s top two smartphone makers, but is also proof for the pivotal role of intellectual assets in the global economy, according to the World Intellectual Property Organization.“We are living in an era when conventional physical assets are increasingly converted into intangible intellectual assets and the intellectual property agenda is rising as a key basis of business competition,” sai
IndustryDec. 13, 2017
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Organica’s Clean Food brand expands offerings at Emart24 nationwide
Premium natural food company Organica said Wednesday that it was expanding distribution of its Clean Food line to all Emart24 stores nationwide. Organica has been offering Clean Food Meal Boxes, premium sandwiches and cleanse salads at 33 select Emart24 stores since August, bringing healthful food options to convenience store shoppers.Starting Wednesday, those products are supplied to 2,600 Emart24 stores nationwide -- just five months after their launch.According to Emart24, the test run of Org
IndustryDec. 13, 2017