Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Golden chance to liquidate babies’ gold rings?
-
3
Inflation eases in April, continues bumpy ride
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
8
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
-
Govt. set up W1tr fund for restructuring of SMEs
The government will set up a 1 trillion-won ($918 million) fund to restructure struggling small and medium-sized enterprises as part of its drive for "market-oriented" corporate restructuring, officials said Monday. Under the scheme, eight state-run and retail banks, including Korea Development Bank, will raise 500 billion won by the end of next February as a "mother" fund, the Financial Services Commission said in a statement. The remaining 500 billion won will be rais
MarketDec. 18, 2017
-
Korea expects US pressure on auto industry in FTA talks
South Korea's trade ministry said Monday it will push to start talks to amend the free trade agreement with the United States within a month or so and expected Washington to engage in hardball tactics, especially in autos.The Ministry of Trade, Industry and Energy reported its FTA plan to the National Assembly, wrapping up the domestic procedures required for beginning the renegotiation of the five-year-old trade deal. The latest move comes as Seoul accepted US President Donald Trump's demand to
EconomyDec. 18, 2017
-
Koreans to spend less on gift buying amid weak employment conditions: poll
South Koreans plan to spend less on year-end and new year holiday gifts in the coming few weeks compared to the year before amid rising unemployment and unstable job security, a poll showed Monday.The average South Korean plans to spend about 203,000 won ($183) buying gifts toward the end of the year, down 58,000 won from 2016, according to the survey of 240 people done between Nov. 21-24 by market researcher DMC Media.The survey attributed the fall to growing joblessness, decreasing job securit
IndustryDec. 18, 2017
-
One in 10 units of top groups listed as foreign-invested firms
Slightly over 1 in 10 subsidiaries of South Korea's top 10 business groups are listed as foreign-invested companies eligible for tax and other benefits, a market tracker said Monday.As of end-November, 91 of the groups' 665 units, or about 14 percent of the total, were registered with the government as foreign-invested corporations, according to Chaebul.com.Those companies include Hotel Lotte Co., Lotte Chemical Corp., Hotel Shilla Co. and Hyundai Glovis Co. The number is up 34 from 2017.Under S
IndustryDec. 18, 2017
-
Korea's ratio of domestic demand to GDP ranks low: report
South Korea's ratio of domestic demand to its gross domestic product ranks low among major advanced and emerging markets, which could come as a hurdle to its sustainable growth, a report showed Monday.South Korea's domestic demand accounted for an average 61.9 percent of its GDP between 1996 and 2015, according to the report from the National Assembly Budget Office.The figure ranks 27th among the 35 member nations of the Organization for Economic Cooperation and Development, and six major emergi
IndustryDec. 18, 2017
-
Stepping into the webtoon world, literally
Reading a webtoon, or digital comics, has long been a passive experience. We read the story by scrolling down the screen of a smartphone. But this is on the verge of change in tech-forward South Korea, where the marriage of cutting-edge technology and web comics is creating a unique and interactive storytelling model that invites the reader into the picture -- in a literal sense. Leading the push is Naver Webtoon, Korea’s biggest webtoon platform, operated by portal website Naver. It recently pa
TechnologyDec. 17, 2017
-
More than 1 in 10 Korean workers underpaid: data
More than 1 out of 10 South Korean workers were paid below the minimum wage in 2016, with many being teenagers, elderly or female workers, government data showed Sunday. Out of 19.62 million workers, 2.66 million, or 13.6 percent, were paid below the minimum wage as of August 2016, up from 1.89 million in 2007, Statistics Korea said.The ratio of the underpaid workers stood at 4.9 percent in 2003, but the level has steadily risen to over 10 percent over the past decade, the national statistics of
EconomyDec. 17, 2017
-
KITA holds forum to support Korea-China business cooperation
South Korean and Chinese government leaders and business representatives on Saturday gathered to discuss future cooperation at a business forum organized by Korea International Trade Association on the occasion of President Moon Jae-in’s China visit, the association said Sunday.Along with Moon, a total of some 300 participants joined talks held in Chongqing, to share ideas on potential partnerships in various industries as well as in jointly advancing into other markets. President Moon Jae-in (f
IndustryDec. 17, 2017
-
Korea’s internet business body regrets US decision to kill net neutrality
South Korea’s representative internet business body on Sunday expressed regret over the US Federal Communications Council’s landmark decision to repeal net neutrality rules that had required internet service providers to offer equal access to all web content without discrimination.The Korea Internet Corporations Association released a formal statement citing “deep worries” over what they called negative consequences that the US FCC’s decision is expected to have on the global internet industry,
TechnologyDec. 17, 2017
-
UK-based Dyson to announce official stance on legal dispute with LG soon
UK-based electronics maker Dyson will soon announce its official stance on the ongoing legal process involving South Korean rival LG Electronics, according to industry sources Sunday. Dyson recently filed an injunction with a Seoul court to ban advertisements of LG’s flagship hand-held stick cleaner Cordzero A9, as market competition intensifies.“It is unprecedented that Dyson’s headquarters filed such legal action in any country,” an agency official in charge of public relations on behalf of th
TechnologyDec. 17, 2017
-
Samsung’s new chip leader likely to put SoC, foundry businesses first
Kim Ki-nam, chief executive officer of Samsung Electronics’ devices solutions business, is expected to discuss measures to find new profit sources, pivoting on non-memory and foundry businesses, for the company’s most lucrative unit at an upcoming strategy meeting, according to the industry on Sunday. Kim is scheduled to hold the “Global Strategy Meeting” on Tuesday, a twice-yearly meeting held in June and December at the company to set new strategies and plans for the upcoming year. Kim was app
IndustryDec. 17, 2017
-
China approves construction of 3 Korea-China industrial parks
BEIJING -- China has approved the construction of three industrial parks to be jointly operated by South Korean and Chinese firms, its website said Sunday, amid growing signs of improvement in bilateral relations.In a circular released by the Chinese State Council on Friday, the government gave the green light to the separate projects to build industrial parks in three cities -- Yancheong in Jiangsu Province, Yantai in Shandong Province and Huizhou in Guangdong Province.The construction projects
IndustryDec. 17, 2017
-
Sales of Hyundai-Kia in China drop 30% on-year in Nov.
Hyundai Motor Group's sales in China fell nearly 30 percent in November from a year earlier due to the fallout from political tensions over the deployment of a US missile defense system in South Korea, the company said Sunday. Hyundai Motor Co. and its affiliate Kia Motors Corp., which together form the world's fifth-biggest carmaker by sales, said they sold a combined 145,015 vehicles in China last month, down 29.8 percent from a year earlier.Their sales in the first 11 months dropped 38.2 perc
MobilityDec. 17, 2017
-
Moon’s visit boosts Hyundai’s China operations
Praising Beijing Hyundai Motor as an example of growth and symbolic of economic cooperation between South Korea and China, President Moon Jae-in pledged support to remove any barriers to the operation of the joint venture during his visit to a plant in Chongqing, southwest China, Saturday.Moon’s visit to the Hyundai plant came in light of slowly recovering sentiment toward South Korean businesses in China, following hostilities over diplomatic tensions regarding the deployment of the US’ Termina
MobilityDec. 17, 2017
-
[Health-tech Korea] Anesthesia made easier, quicker with rapid-cooling technology
The Korea Herald is publishing a series of articles highlighting South Korea’s promising startups in the emerging sectors of digital health care and next-generation medical devices. This is the 15th installment. - Ed.ULSAN — Putting a needle through any part of the body is an unwelcoming experience. And the thought alone of injecting a sharp needle into an eyeball would make most people squirm. However, this is how doctors typically deliver anesthetic medicine into the eye before an intravitrea
TechnologyDec. 17, 2017
-
[Herald Interview] Alice Martha pursues new markets with no-frills fast fashion
The Korea Herald is publishing a series of interviews with the CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online shopping malls. This is the third installment. -- Ed.Kwak Chang-hun is a force of energy, the type of man that seems to speak with his whole body.“You want an Americano? Let me make you an Americano. I just bought this machine,” he said as he bustled towards an espresso machine sitting behind the counter at bag brand Alice Martha‘s off
IndustryDec. 17, 2017
-
Commercial banks to raise floating mortgage rates this week
South Korea's commercial banks are set to raise floating rates for mortgage loans this week in line with a benchmark money market rate hike, industry officials said Sunday.The top five banks -- KB Kookmin, Shinhan, Woori, KEB Hana and NH Nonghyup -- will reflect a rise in the Cost of Funds Index, a benchmark for variable-rate mortgages, starting from Monday.The COFIX, which is decided by the Korea Federation of Banks, has increased for three consecutive months since September on expectations of
MarketDec. 17, 2017
-
Data show rising number of borrowers with excessive debt
A growing number of South Koreans were holding excessive amounts of loans compared with their income levels, raising concerns over their debt service capability, central bank data showed Sunday. One out of 10 borrowers held loans of more than their five-year income at the end of September, which means their loan-to-income ratio exceeded 500 percent, according to the data compiled by the Bank of Korea. The LTI ratio refers to the portion of outstanding loans to annual income. An increase in the r
EconomyDec. 17, 2017
-
Seoul shares may test 2,520 next week on eased uncertainties
outh Korean shares could rise next week on eased market uncertainties, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) is expected to test 2,520 next week. The main index rose 0.73 percent for the whole of this week. The U.S. Federal Reserve marked up its key rates for the third time this year to 1.5 percent on Wednesday, although, having been expected, the move had little impact on the overall market.Political tensions between Seoul and Beijing over a U.S. mi
EconomyDec. 16, 2017
-
Moody's upgrades outlook for S. Korean banking system
Moody's Investors Service has upgraded the South Korean banking system's outlook to "stable" from "negative," citing stronger economic growth and stabilizing asset quality in Asia's fourth-largest economy."The outlook change reflects our assessment that the overall creditworthiness of Korean banks will be stable over the next 12-18 months," the global ratings agency said in a report released on Friday. "Stronger economic growth in Korea has resulted in an impro
EconomyDec. 16, 2017