Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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Korea’s producer price growth hits 3-month record in July
South Korea’s producer prices grew at the fastest clip in three months in July due mainly to a hike in raw material prices and heavy rains, the central bank said Tuesday.The producer price index, a barometer of future consumer inflation, rose 6.5 percent in July from a year earlier, compared with a
Aug. 9, 2011
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Ministry’s point man on baby boomers stresses jobs for the old
There are 7.13 million Korean baby boomers who were born between 1955 and 1963, or 14 percent of the total population. They will face difficult financial and social situations after retirement and the government should meet their different demands, Lee Ki-young, director of policy planning for baby
IndustryAug. 9, 2011
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Coming wave of retirements may cause economic disaster for Korea
Experts call for measures to ensure more flexible labor markets, boost birthrateTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following
Aug. 9, 2011
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China inflation quickens to 6.5% in July
China’s inflation accelerated to the fastest pace in three years in July, limiting the scope for monetary easing as risks to the global economy mount. Consumer prices climbed 6.5 percent from a year earlier, the Beijing-based National Bureau of Statistics said on its website Tuesday. That was more t
IndustryAug. 9, 2011
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Former IP judge to head KIPI
Pyo Jae-ho, a former chief judge of the Korean Intellectual Property Tribunal, was appointed as the new head of the Korea Institute of Patent Information, KIPI said Tuesday. Pyo Jae-hoKIPI said its board of directors has recently elected Pyo, a patent veteran with more than 10 years of experie
IndustryAug. 9, 2011
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Samsung, Sony, Panasonic in 3D glasses deal
TOKYO (AFP) -- Japan's Sony and Panasonic and South Korea's Samsung Electronics said Tuesday they will jointly develop new standards for glasses used to watch 3D images on television, computer and movie screens.The three Asian consumer electronics giants, working with European technology firm X6D Li
TechnologyAug. 9, 2011
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Korean singles think spouse should earn at least $33,000
Korean singles believe ideal annual income of potential partners should be at least $33,000, a poll showed on Wednesday.The research showed that while males wished for partners with annual salary of at least $30,055, females answered that the bottom line should be $37,110.Job Korea, a local online r
IndustryAug. 9, 2011
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Kakao Talk used to capture an escaping criminal
The Suwon District Prosecutor’s Office reportedly arrested an escaping criminal, surnamed Kim, by utilizing Kakao Talk service, the nation-wide mobile communication network.Kim, 39, made a getaway after he was sentenced to two months of imprisonment for drunk driving in May. A criminal investigator
TechnologyAug. 9, 2011
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Stocks recoup losses on Bernanke hopes
US stocks open higher after Monday's routLONDON (AP) -- Speculation that the U.S. Federal Reserve may announce another round of monetary easing helped stock markets rebound Tuesday after many entered official bear market territory.Specialist Stephen D'Agostino works at his post on the floor of the N
Aug. 9, 2011
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US markets fall sharply after S&P downgrade
S&P downgrades Fannie, Freddie, other agencies linked to long-term U.S. debtNEW YORK (AP) — The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt and gave investors another reason to be anxious.Traders work on the
Aug. 8, 2011
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S&P downgrades Fannie and Freddie, US-backed debt
WASHINGTON (AP) — Standard & Poor's Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit
Aug. 8, 2011
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Major firms withdrawing from MRO business
Amid rising criticism over an oligopoly in the market, Korea’s large businesses are to keep their hands off affiliates in charge of sourcing spare parts, stationery and repair services for office equipment. SK Group became the latest conglomerate on Sunday to step back from its lucrative procurement
IndustryAug. 8, 2011
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SK launches campaign to prevent future hacking attempts
SK Communications, which runs Nate and Cyworld, said Monday it will start a campaign asking its users to change their passwords to prevent a second possible security breach.Those who have not changed their passwords since the first security breach, which occurred in late July, must make the change t
IndustryAug. 8, 2011
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Hyundai-Kia on way to grab 15% of U.S. market
Hyundai Motors and Kia Motors saw their market share in the United States reach nearly 15 percent in July, having already grabbed more than 15 percent for the mid-sized sedan segment there.The affiliated automakers posted 14.6 percent in market share for the American market with sales of 72,440 unit
MobilityAug. 8, 2011
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U.S. rating downgrade clouds Korean economy
Stocks plunge; stronger won against U.S. dollar feared to hurt exportersFears of potential fallout from the U.S. credit downgrade quickly materialized in a Korean stock freefall on Monday. The drop reflected the panicky sentiment among local investors amid growing concerns about the overall Korean e
Aug. 8, 2011
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Cabbage prices fuel kimchi imports
Imports of Korean staple rise by almost 40% on-yearAs prices of locally-produced napa cabbages soared, kimchi exports decreased by more than 10 percent this year, while imports increased by nearly 40 percent, government data found Monday. This year’s outbound shipment of kimchi amounted to 15,614 to
IndustryAug. 8, 2011
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Banks’ foreign currency liquidity sound: regulator
South Korean banks have no problems with their foreign currency liquidity conditions, the top financial regulator said Monday, downplaying the significance of a regulatory probe into them.The Financial Services Commission and its executive body, the Financial Supervisory Service, have created a task
Aug. 8, 2011
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Household transport costs up 11% in Q1
South Korean households spent 11 percent more on transportation on-year in the first quarter due mainly to higher fuel and energy prices, central bank data showed Monday.Households’ transportation expenditures on a nominal basis reached 18.2 trillion won ($17 billion) in the January-March period, co
Aug. 8, 2011
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Spy agency to control cyber security
The Korea Communications Commission on Monday unveiled its master plan for cyber security, including expanding inter-governmental cooperation and triggering more participation of private experts, to deal with the rising security threat.The commission, together with 14 other governmental agencies, ag
Aug. 8, 2011
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Lotte Mart denies transfer of headquarters to China
Lotte Mart struggled Monday to quell market speculation that the nation’s second-largest retail chain is considering moving its headquarters to China in the near future. According to news reports, Lotte Mart CEO Noh Byung-yong hinted at a potential move to China in a recent meeting with company offi
IndustryAug. 8, 2011