Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Korea to build test bed for self-driving cars
A test bed area for autonomous cars will be built west of Seoul by the end of next year to put test vehicles through real world road and traffic conditions, the transport ministry said Tuesday.Groundbreaking for K-City will be held on Wednesday in Hwaseong, Gyeonggi Province, to build the 320,000 square-meter facility for 11 billion won ($9.77 million), according to the Ministry of Land, Infrastructure and Transport. The facility will have simulated roads that like highways, downtown areas, cit
MobilityAug. 29, 2017
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Accounting firms see sales gain 8.5% in fiscal 2016
Accounting firms in South Korea saw their combined sales rise 8.5 percent annually in the 2016 fiscal year, helped by a modest gain in revenues from their audits and consulting businesses, data showed Tuesday. The combined sales of 165 accounting firms stood at 2.67 trillion won ($2.37 billion) in fiscal 2016 that ended March of this year, compared with 2.46 trillion won a year earlier, according to the data by the Financial Supervisory Service.The nation's top four accounting firms -- Samil PwC
EconomyAug. 29, 2017
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Rates for household loans inch up in July
Bank lending rates on new household loans inched up in July and interest rates paid by banks on new deposits slightly fell, central bank data showed Tuesday.The average interest rates on fresh household loans extended by local banks came to 3.46 percent in July, up 0.05 percentage point from the previous month, according to the Bank of Korea. The BOK data came amid South Korea's efforts to tackle rising household debt. South Korea's overall household debt came to 1,388.3 trillion won
EconomyAug. 29, 2017
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Carmakers' outlook hovers well below par for Sept.
South Korean automakers paint a much dimmer picture of their business outlook for September than firms in other sectors due to global protectionism and concerns over strikes and ordinary wages, a think tank said Tuesday.The Korea Economic Research Institute said its business survey index for the auto-related sector came to 77.6 for September, well below the benchmark 100 and the lowest among 23 industrial sectors.A reading below 100 means that pessimists outnumber optimists. The survey was taken
IndustryAug. 29, 2017
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Korea's seaport cargo up 3.7% in July
Cargo processed at South Korean seaports rose last month from a year earlier on the increase in export and import traffic, government data showed Tuesday.The total amount of seaport cargo came to 132.3 million tons in July, up 3.7 percent from 127.7 million tons tallied a year earlier, according to the data by the Ministry of Oceans and Fisheries.Non-container cargo climbed 2.2 percent on-year to 91.3 million tons last month, while container freight also added 3.1 percent to 2.3 million twenty-f
IndustryAug. 29, 2017
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Korea to curb hefty bonuses for financial executives
South Korea's financial regulator said Tuesday it will curb existing bonus policies for senior executives at financial firms from December. Starting Dec. 4, a financial executive will be given an annual bonus equal to 60 percent of the total with the rest to be paid over the next three years, the Financial Services Commission said in a statement. If the financial executive incurs a loss during the three-year period, the rest of the executive's annual bonus will be cut. If the loss is huge,
EconomyAug. 29, 2017
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Korean stocks fall more than 1% on N. Korea's missile launch
South Korean stocks traded sharply lower Tuesday morning as market sentiment was spooked by North Korea's latest missile launch that could further escalate tensions on the Korean Peninsula.The benchmark Korea Composite Stock Price Index shed 34.32 points, or 1.45 percent, to 2,335.98 as of 11:15 a.m.North Korea lobbed a ballistic missile over Japan earlier in the day in a move that could pose serious security challenges for Northeast Asia. Reflecting the concern, market kingpin Samsung Electroni
MarketAug. 29, 2017
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Galaxy Note 8 boasts top display performances: DisplayMate
Samsung Display Co. said Tuesday the recently unveiled Galaxy Note 8, won top marks from US industry tracker DisplayMate, for its stunning performance and high-end features.The display producer for Samsung Electronics Co. said the phablet became the first smartphone to win "Excellent A+" grade from DisplayMate."The Galaxy Note 8 is the latest in a new generation of OLED Smartphones that have a Full Screen Display design like the Galaxy S8. It has many major and important state-of-the-art display
TechnologyAug. 29, 2017
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Korea vows to take steps over financial volatility
South Korea said Tuesday it will take measures to stabilize the financial market, if needed following the latest North Korean missile launch that has further spiked tensions in the region.The Finance Ministry said it is monitoring financial markets at home and abroad and the South Korea's economy around-the-clock to effectively cope with risks posed by Pyongyang.The government "will take necessary steps in a timely manner" in case of financial volatility, the ministry said after a join
EconomyAug. 29, 2017
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Korea to hold annual consultation meeting with Moody's
The South Korean government will hold an annual consultation with Moody's this week on the country's credit valuation, the finance ministry said Tuesday.Led by Steffen Dyck, senior credit officer at Moody's, the delegation will be in South Korea for three days through Thursday for meetings with officials from the Ministry of Strategy and Finance, the Bank of Korea and the state-run Korea Development Institute. They will look into South Korea's macroeconomic policies of the new Moon Jae-in govern
EconomyAug. 29, 2017
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Mortgage applications jump ahead of tougher rules
South Korea's major banks saw mortgage applications surge early last week ahead of the implementation of tougher screening rules, market sources said Tuesday.The five leading lenders -- KB Kookmin, Shinhan, Woori, KEB Hana and Nonghyup -- notched up mortgage applications of more than 3,200 last Monday and Tuesday, respectively. The average number stayed in the 2,000 range in the first 20 days of this month.The amount of applied mortgages came to 419 billion won ($373 million) and 366 billion won
MarketAug. 29, 2017
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Stocks open lower on N. Korea's missile provocation
South Korean stocks opened lower on Tuesday, as investors remained worried over North Korea's latest missile provocation that could further escalate tensions on the Korean Peninsula.The benchmark Korea Composite Stock Price Index shed 11.94 points, or 0.5 percent, to 2,358.36 in the first 15 minutes of trading. North Korea lobbed a ballistic missile over Japan earlier in the day in a move that can sharply escalate tensions in Northeast Asia.Market kingpin Samsung Electronics was 1.08 percent dow
MarketAug. 29, 2017
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Korea cuts transport budget 3.8% for 2018
South Korea's government budget for the transportation sector will fall 3.8 percent next year as the government plans to spend less on construction projects and more on welfare policies, the transport ministry said Tuesday. The government has set aside 39.8 trillion won ($36 billion) for 2018, down from 41.31 trillion won this year, the Ministry of Land, Infrastructure and Transport said in a statement. (Yonhap)The decline was to help the Moon Jae-in government achieve its main goals of generati
IndustryAug. 29, 2017
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Korea to spend W19.6tr on R&D in 2018
South Korea's government will inject some 19.6 trillion won ($17.8 billion) in research and development next year, with the majority of the budget earmarked for the science and technology sectors critical for fostering new growth engines, the ICT ministry said Tuesday. The Ministry of Science, ICT, and Future Planning said next year's science and technology budget, which is subject to parliamentary endorsement later this year, has been set to gain 1.9 percent on-year from 2017.Of the total, 6.5
EconomyAug. 29, 2017
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Women scientists to meet in Seoul
The International Conference of Women Scientists and Engineers will open in Seoul this week with some 550 participants discussing the theme "shaping the future," organizers said Tuesday. (Yonhap)The BIEN 2017 conference will be held for three days starting Thursday. The name of the meeting takes its initials from bio, IT, environment/energy/earth and nano technologies, which are the areas dealt with by female scientists at the event, in addition to space and convergence technologies. The confere
TechnologyAug. 29, 2017
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BOK chief criticizes presidential aide for comments over key rate
The head of South Korea's central bank on Monday lashed out at recent comments by a presidential aide that the low key rate is problematic. Officials "should be careful in making comments that could affect the financial markets," Bank of Korea Gov. Lee Ju-yeol said in a parliamentary session. It marked the second time this month that Lee has made a thinly veiled criticism against the presidential economic aide, who said in a recent interview with a newspaper that the low key rate is to
MarketAug. 28, 2017
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Samsung joins 20th Century Fox, Panasonic for HDR tech alliance
Samsung Electronics Co. said Monday it agreed to join US 20th Century Fox and Japan-based Panasonic Corp. to expand the ecosystem for the High Dynamic Range 10 Plus technology.The South Korean tech giant said the companies agreed to establish an alliance for the HDR 10 Plus technology.The agreement is aimed at inducing more TV producers and movie productions to join the ecosystem for the new technology, Samsung said. (YonhapThe HDR technology allows screens to deliver vivid displays by optimizin
TechnologyAug. 28, 2017
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Samsung to invest $7b in China chip business
Samsung Electronics will invest a total of $7 billion in its semiconductor business in China for the next three years, the company said in a regulatory filing Monday.The latest investment announcement in the China business is the biggest in five years since the Korean chipmaker established the plant in Xian in 2012. Samsung’s Xian facilities produce 3-D NAND flash memory chips whose demand is rapidly rising as mobile device manufacturers want chips with greater data storage space and faster proc
TechnologyAug. 28, 2017
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[Monitor] Mobile display market overtakes TV displays
The global market for mobile phone displays is expected to overtake that of TVs screens for the first time this year due to changes in consumer demand, data by IHS Markit showed.Mobile panels market grew by an average 17 percent annually in the past seven years. Sales of TV screens declined about 8 percent per year during that same period.The rise in mobile phone displays is directly linked to the emergence of smartphones and the advances being made in ultra-high definition panels that have appe
TechnologyAug. 28, 2017
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Foreign investors may take Korea’s mobile fee cut to ISD settlement
Foreign investors are making increasing inquiries about possible losses to their investment in South Korean telecom companies, three days before the carriers are to decide on whether to file a lawsuit against the government’s fee cut plan, industry sources said Monday. “Our investor relations team has received some inquiries about what would happen to the company’s profitability from several foreign shareholders,” said an official from one of the three mobile carriers here, who asked for anonymi
TechnologyAug. 28, 2017