Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Home ownership rate in Korea stands at 55.5% in 2016
The home ownership rate in South Korea came to 55.5 percent in 2016, data showed Friday.The annual data released by Statistics Korea said 10.7 million households out of 19.36 million across the country owned homes in 2016.Statistics Korea said 26.9 percent of 10.07 million households owned two or more homes last year, up 1.5 percentage points.The average price of houses came to 227 million won ($207,000) and the average area of a dwelling is 86.3 square meter. The data also showed that the total
EconomyNov. 17, 2017
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Nonghyup to sell Korean pork, beef from vending machine
A South Korean agricultural cooperative is pushing to introduce a vending machine selling livestock products, such as pork and beef, targeting the increasing number of single-person households in the country, industry sources said Friday.The National Agricultural Cooperative Federation, known as Nonghyup here, will first showcase the dispenser at its headquarters in Seoul on Wednesday, and begin distributing the machines in other locations starting next month, the sources said.The machine will b
IndustryNov. 17, 2017
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iPhone X sold out on first day of preorder on supply shortages
South Korea's mobile carriers said Friday their first preorder batch of U.S. tech giant Apple Inc.'s latest iPhone X smartphones were sold out in a few minutes after being launched here, apparently due to supply shortages.No. 1 mobile carrier SK Telecom Co. said it sold the first batch of iPhone X phones in three minutes after starting preorders. The figure compares to the iPhone 7 released last year, which took 20 minutes to sell all of the initial volume.The second batch of the iPhone X was al
TechnologyNov. 17, 2017
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Samsung to rank No. 1 in capital spending among chipmakers this year
Capital spending among chipmakers is expected reach $90.8 billion this year, an industry tracker said Friday, with South Korea's Samsung Electronics Co. leading the pact.According to the data compiled by IC Insights, Samsung Electronics' annual facility investment for this year is estimated at $26 billion, accounting for more than 20 percent of the total investments planned by these companies.The semiconductor market researcher said Samsung is presumed to have allocated $14 billion for the 3D NA
TechnologyNov. 17, 2017
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[News Focus] Pohang quake to bolster talks on Moon’s nuke-free vision
The Pohang earthquake on Wednesday that has rekindled national anxiety over the safety of nuclear power plants -- mostly located in the southeastern part of the Korean Peninsula -- is likely to add momentum to the Moon Jae-in government’s nuclear-free energy road map.Anti-nuclear groups here anticipate the agenda may even rethink the recent decision to continue with the construction of new reactors.“Earthquakes in Korea are all the more dangerous as they may hit upon nuclear power pl
EconomyNov. 16, 2017
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[Monitor] More foreign residents in South Korea
The number of residents with foreign nationalities and those who have naturalized living in South Korea has reached 1.76 million as of 2016, 3.4 percent of the entire population, data by Statistics Korea released by the Ministry of Public Administration and Security showed. This is a 3.1 percent increase from 2015, and a threefold surge from 2006 when the first set of statistics was gathered.Most, or 32.4 percent, were residing in Gyeonggi Province followed by 22.9 percent in Seoul and 6.5 perce
EconomyNov. 16, 2017
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Pohang quake raises demand for disaster survival supplies
Following a 5.4 magnitude quake in Pohang, North Gyeongsang Province, on Wednesday, demand for survival supplies has risen among Koreans. One item that has surged in demand is a survival backpack kit that contains emergency essentials such as a first-aid kit, a Swiss Army knife, a flashlight and matches. A soft shock-absorber hat (Left) and a survival backpack kit for emergency-preparedness (WeMakePrice/Yonhap)According to Korean newspaper JoongAng Ilbo on Thursday, sales of the survival backpa
IndustryNov. 16, 2017
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High-skilled expatriates needed for economic growth: BOK Busan
One third of foreign expatriates residing in Busan were found to be low-skilled laborers with insufficient capacity to spend, a report by the Bank of Korea’s Busan office showed Thursday. A spokesperson from the BOK Busan voiced the opinion that the influx of foreign residents should be selective to encourage contributions to local economic growth.According to report by the central bank office, in 2015, Busan -- as Korea’s second-largest city -- had 3.5 percent of the total foreign p
EconomyNov. 16, 2017
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[Exclusive] Volvo Trucks in talks with Samsung for full-electric trucks: CEO
Swedish truck manufacturer Volvo Trucks is in discussion with Samsung to develop future-generation batteries in order to commercialize trucks powered by electricity, its chief said in Seoul on Wednesday.In an interview with The Korea Herald, Claes Nilsson, president of Volvo Trucks, said the company has been in talks with the South Korean tech giant to introduce electric trucks, which are part of what the company envisions for a “greener” future. Claes Nilsson, president of Volvo Trucks, speaks
MobilityNov. 16, 2017
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[Newsmaker] Samsung promotes 99 executives in chip units
Samsung Electronics on Thursday promoted a total of 221 executives with 99 of them coming from its lucrative chip business in a follow-up appointment of key executives earlier this month.By rank, the 221 executives include 27 executive vice presidents, 60 senior vice presidents, 118 vice presidents, one fellow and 15 masters. By unit, the money-making chip business accounted for 45 percent of total promotions with 99 executives promoted. “The promotion of 99 executives reaffirmed the firm’s pers
IndustryNov. 16, 2017
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[Herald Interview] ‘Social media will propel Korean wine market’
The Korean wine market that has only recently been growing will develop and evolve rapidly through the informing effects of social media, said the wine director with a British wine and spirits merchant.“In this market in particular, social media and blogging is everywhere. That is the most flexible, the most accessible. There will be somebody somewhere that is at the level you want to hear,” said Mark Pardoe of Berry Bros. & Rudd in an interview with The Korea Herald. Berry Bros. & Rudd Wine Dir
IndustryNov. 16, 2017
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New KITA chairman to focus on fostering SMEs
Kim Young-joo, who was officially elected as the new chairman of the Korea International Trade Association on Thursday, said he would focus on helping Korea’s small and medium-sized enterprises thrive on a global level. “Korea’s SMEs account for a small share of exports compared to other advanced countries,” said Kim, during a press conference held at the InterContinental Seoul Coex on Thursday. “We will seek various support measures to enable SMEs and start-
EconomyNov. 16, 2017
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Bluehole Studio's ‘Battlegrounds’ wins grand prize at 2017 Korea Game Awards
Online shooting game “PlayerUnknown’s Battlegrounds” developed by South Korea’s Bluehole Studio won the grand prize at the 2017 Korea Game Awards on Wednesday, marking a milestone for the PC online game industry that has been struggling against mobile games. “Battlegrounds” also swept five additional awards, including the technology innovation award, the best developer award, the game business innovation award and the most popular game award.PUBG Corp. CEO Kim Chang-han (Bluehole Studio)Develope
IndustryNov. 16, 2017
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PAMS2017 unveils South Korea’s first driverless shuttle
PANGYO, Gyeonggi Province -- With companies and countries worldwide striving to gain an upper hand in self-driving vehicle technology, South Korea on Thursday unveiled its first fully automated shuttle dubbed Zero Shuttle.The level-five Zero Shuttle is a 12-passenger autonomous vehicle that will begin test runs in Gyeonggi Province starting in December.Automated vehicles are classified from level zero to five by the Society of Automotive Engineers, with level five referring to full automation in
MobilityNov. 16, 2017
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[Photo News] G-Star 2017 game convention kicks off in Busan
G-STAR 2017 BEGINS -- Visitors test out online games on PCs on the first day of the G-star global gaming convention, Thursday. The four-day event at Bexco in Busan will feature presentations of new products from top game companies as well as live competitions between professional gamers. (Yonhap)
TechnologyNov. 16, 2017
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S-Oil wins grand prize at 2017 ESG Award
S-Oil on Thursday won the grand prize at the 2017 ESG Award organized by Korea Corporate Governance Service. The ESG Award evaluates and analyzes environmental, social and governance factors of all listed companies in South Korea.S-Oil received high scores for company-wide efforts to accelerate sustainable growth, as well as for its social and environmental activities, according to the award. S-Oil CEO Othman al-Ghamdi (right) shakes hands with Jung Ji-won, head of the Korea Exchange, at the 201
IndustryNov. 16, 2017
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International Vaccine Institute to commercialize new typhoid vaccine by 2021
The International Vaccine Institute, a Seoul-headquartered international nonprofit organization devoted to developing and supplying new vaccines to underdeveloped countries, is preparing to introduce a new typhoid vaccine by 2021.After the successful deployment of the world’s first oral cholera vaccines, the IVI is now working to develop and commercialize a vaccine that prevents typhoid fever in partnership with South Korea’s SK Chemicals, according to IVI Director General Jerome Kim.“Thanks to
TechnologyNov. 16, 2017
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SK Innovation to donate for each ad view
South Korean oil refiner SK Innovation on Thursday launched a unique social contribution project, vowing to donate 2 won for every view of its latest corporate advertisement.The project involves its “Big Picture of Innovation” advertisement that was revealed in September. The ad is the third installment of the “Big Picture” campaign and features visual artworks by renowned artists and new art techniques. “Big Picture of Innovation” ad by SK Innovation (SK Innovation)Using the “cymatics” art met
IndustryNov. 16, 2017
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Average Korean consumes 9 liters of alcohol a year
Koreans of legal age consumed an average 9 liters of pure alcohol per person in 2015. The figure was confirmed by professors from the Catholic University of Korea Uijeongbu St. Mary’s Hospital and Inje University Graduate School of Public Health, through a study on data, Chosun.com reported Tuesday.Nine liters of alcohol would be 121 bottles of soju or 366 cans of 500-milliliter beer. Soju typically has 21 percent alcohol by volume while beer is about 5 percent. (Yonhap)The research team analyz
IndustryNov. 16, 2017
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Hyundai forms W50b AI fund with SKT, Hanwha Asset Management
Hyundai Motor has formed the AI Alliance Fund with Korean mobile carrier SK Telecom and Hanwha Asset Management to invest in startups that have innovative ideas and technology, the company said Thursday.The three companies will each pitch in 16.5 billion won ($14.4 million) to create the fund worth 50 billion won that is scheduled to kick off in the first quarter of next year.“The fund aims to bolster next-generation technological capabilities in analyzing global technology trends, forming coope
MobilityNov. 16, 2017