Most Popular
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Actor Song Jae-rim dies at 39
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'Are you a T?' is a new put-down in S. Korea
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Bitcoin hits record in Korea, even without ‘kimchi premium’
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Trump sours K-food outlook in US
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Korean study finds 'obese' BMI may actually be healthiest
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Boston Dynamics robot dog joins Trump’s security detail
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Suneung for all: Opportunity, redemption and the right to dream
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Hyundai’s Atlas robot takes the spotlight as Tesla's Optimus stumbles
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Korean model admits drug use, seeks help from embassy in Manila: report
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[Herald Interview] 'Korea, don't repeat Hong Kong's mistakes on foreign caregivers'
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BOK expected to miss inflation target
The possibility that Korea will fail to meet its inflation target of 4 percent for 2011 increased as the European debt crisis continued to hit local financial markets.The Bank of Korea, which has pushed for tightening monetary policies in an attempt to curb consumer prices, is unlikely to raise the
Aug. 10, 2011
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Korea likely to weather financial turmoil: Morgan Stanley
South Korea is expected to tide over the ongoing financial turmoil stemming from jitters over the U.S. economy and the European debt crisis, thanks to its solid exports and improved financial indicators, a report showed Wednesday.“We think Korea’s exports will fall less than other countries (like la
Aug. 10, 2011
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Firms may rethink U.S. biz strategies
Companies looking for signs of prolonged recession in Europe, U.S.Large Korean companies struggled to appear unfazed but many, especially those dependent on overseas sales, seemed to be rethinking their business strategies in the aftermath of a financial shock stemming from the U.S.Hyundai Motor is
Aug. 10, 2011
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Ministry upping price pressure on refiners
The government is stepping up pressure on local refiners to lower fuel prices as it recently demanded they disclose their supply prices to individual gas stations. Industry sources said Wednesday that the Ministry of Knowledge Economy has been analyzing the accounting records of some 180 gas station
IndustryAug. 10, 2011
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Hyundai to develop compact battery powered cars in 2014
Korean automakers have set out to develop midsized electric vehicles in a government project to roll out cheaper, eco-friendly and better-performing cars in 2014.A consortium led by Hyundai Motor Co., the country’s top car manufacturer, has signed a deal with the Ministry of Knowledge Economy to est
IndustryAug. 10, 2011
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Milk crisis looms amid stalled price talks
Dairy farmers halted the raw milk supply again on Wednesday, with price talks stalled without agreement. Industry sources predicted that a milk crisis is imminent, saying that current milk reserves would reach their limits within one or two days. Representatives of the government, milk manufacturers
IndustryAug. 10, 2011
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Neowiz Games’ earnings hit record
Neowiz Games Corp., a Korean online game publisher, again broke its highest quarterly earnings record in the second quarter, recording 167.7 billion won ($155.26 million) in sales, up 13 percent from last quarter.The company also posted 26.3 billion won in operating profit and 13.4 billion won in ne
IndustryAug. 10, 2011
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Shinhan targets younger customers
Shinhan Bank, under the customer-oriented management policies of CEO Suh Jin-won, has been diversifying its financial products.The commercial bank’s couple-customized products offer higher interest rates to those who register as couples through the lender’s smartphone application.Shinhan has release
Aug. 10, 2011
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Online associations protest Apple’s in-app purchase fees
Industrial action has been taken against Apple Inc.’s in-app purchase policy, with groups in Korea protesting the procedure which mandates customers and mobile app developers use its payment tool at its App Store.The Korea Internet Corporations Association, joined by the Korea Mobile Internet Busine
IndustryAug. 10, 2011
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KEB’s Q2 net jumps more than eightfold
Korea Exchange Bank, South Korea’s No. 5 lender, said Wednesday that its second-quarter earnings jumped more than eight times from a year earlier on a one-off profit from the sale of a stake in a local builder and improved interest margins.Net income amounted to 1.13 trillion won ($1.05 billion) in
Aug. 10, 2011
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Money supply growth hits 7-year low
South Korea’s money supply grew at the slowest pace in more than seven years in June as liquidity offered by the government decreased despite brisk bank lending, the central bank said Wednesday.The country’s M2, a narrow measure of its money supply, reached 1,697.2 trillion won ($1.57 trillion) in J
Aug. 10, 2011
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Baby boomers reliant on state pension plan
Experts call for more aggressive pension managementTo 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 is the fourth of the eight-p
IndustryAug. 10, 2011
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Baby boomers looking to diversify real estate-heavy retirement savings
For Korea’s baby boomer generation, post-retirement plans usually revolve around real estate investments. But this longstanding strategy, which relied solely on a continuously booming housing market, is being reconsidered as apartment prices remain in a protracted slump. Baby boomers here, many
Aug. 10, 2011
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China’s trade surplus surges to $31.5b
China’s trade surplus surged to $31.5 billion in July, the highest level in more than two years, as exports rose to a record level. Outbound shipments climbed 20.4 percent from a year earlier, compared with the 17 percent median forecast in a Bloomberg News survey of 25 economists. Imports climbed 2
IndustryAug. 10, 2011
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Apple world’s most valuable U.S. firm
NEW YORK (AP) ― Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company.The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon’s. The two companies are so close that Apple is likely to keep the top spot soon.Apple Inc.’
IndustryAug. 10, 2011
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KT to cut mobile service rates
South Korea’s telecom giant KT Corp. is considering cutting its monthly service rates by 1,000 won ($0.93) in line with the government’s efforts to stem high inflation, a company official said Wednesday.“We’ve mapped out a draft plan to lower mobile phone rates,” said an official from KT. “We are in
Aug. 10, 2011
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Asian stock markets jump on Fed's low rates pledge
BANGKOK (AP) -- Asian stock markets jumped Wednesday following a surge on Wall Street triggered by a Federal Reserve pledge to keep interest rates super low for the next two years to help the ailing U.S. economy.Oil prices rose to near $82 a barrel, while the dollar slid against the yen and the euro
Aug. 10, 2011
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Apple wins order against Samsung tablet in EU
Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing the Galaxy Tab 10.1 tablet computer in the European Union, except the Netherlands. (Bloomberg)Apple Inc. said it won a temporary order that prevents Samsung Electronics Co. Ltd. from distributing th
TechnologyAug. 10, 2011
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S. Korea's jobless rate falls to 3.3 pct in July
SEOUL, Aug. 10 (Yonhap) -- South Korea's jobless rate declined in July from a year earlier as the number of jobs in the country increased, fueled by exports and expanded industrial output, a government report showed Wednesday.The jobless rate stood at 3.3 percent last month, down from 3.7 percent a
Aug. 10, 2011
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Dow soars 429 points on Fed statement
NEW YORK (AP) _ The Fed spoke _ and financial markets rallied.The Dow Jones industrial average surged more than 429 points, its tenth-highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.The Federal Reserve pledged t
Aug. 10, 2011