Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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[Music in drama] An ode to childhood trauma
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New head of doctors' association vows war in case of disadvantage to medical professors
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Seoul to provide housing subsidy to married couples with newborns
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S. Korea's trade surplus widens to US$2.4 bln in May
South Korea's trade surplus widened slightly in May from the previous month as exports shrank at a slower pace than imports, a government report showed Friday.The country's trade balance was US$2.4 billion in the black last month, up from the $2.1 billion surplus tallied in April, according to the report by the Ministry of Knowledge Economy. Last month marked the fourth month in a row that the cou
June 1, 2012
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Korea’s global competitiveness ranking holds steady for 2012
South Korea’s global competitiveness ranking remains unchanged in 2012 from a year earlier despite persistent economic uncertainties, an international institute said Thursday.According to the 2012 World Competitiveness Yearbook unveiled by the International Management Development Institute, South Korea ranked 22nd in competitiveness among the 59 countries surveyed.IMD is a Switzerland-based institute that releases competitiveness rankings every year based on countries’ economic achievements, inf
May 31, 2012
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Korean washer exporters to pay U.S. duties as high as 71%
The U.S. Commerce Department proposed duties of as much as 71 percent on large, residential washing machines made in South Korea, concluding that government subsidies for the goods undercut U.S. producers.The agency announced a preliminary finding yesterday after Whirlpool Corp. of Benton Harbor, Michigan, said in a Dec. 30 complaint that LG Electronics Inc. and Daewoo Electronics Corp., both based in Seoul, and Samsung Electronics Co. of Suwon, South Korea, sell washers in the U.S. for less tha
May 31, 2012
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Nonghyup exports 40kg of ‘hanwoo’ to Jordanian royals
Korea’s National Agricultural Cooperative Federation, or Nonghyup, announced Wednesday that it has exported premium cuts of Korean beef, or “hanwoo,” to the Jordanian royal family.Forty kilograms of frozen top-grade hanwoo arrived in Amman, Jordan, on May 26, a day after the Korean supplier put the beef on an overseas flight, officials said.The cuts include 20 kg of tenderloin, 15 kg of sirloin, and 5 kg of shank. The shank is used for making bulgogi. Nonghyup also sent bulgogi sauce to accompan
May 31, 2012
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Time to invest in U.S. real estate: experts
Backed up by its increasing national wealth and population, Korean investors could become major customers in the U.S. retail real estate market, a U.S. expert said in Seoul on Thursday.“Korea is in a great position with its wealth and population … and needs to invest overseas to diversify.” Joseph F. Coradino, president of Pennsylvania Real Estate Investment Trust, told The Korea Herald. The U.S. market will likely continue to rise, as shown by the history of market change after recessions, Cora
May 31, 2012
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S-Oil Corp. donates w10b for pavilion restoration
S-Oil Corp. said Thursday that it will donate 10 billion won for the restoration of Ulsan’s Taehwa Pavilion, a cultural and historical landmark in Korea’s seventh largest metropolitan city.S-Oil CEO Nasser Al-Mahasher made the announcement at the opening ceremony of the project, which took place on Thursday on the banks of the Taehwa River in Ulsan. The donation will cover the entire cost of restoring Taehwa Pavilion, a historical structure built during the reign of Queen Seon-deok during the Si
May 31, 2012
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Korea's global competitiveness ranking holds steady for 2012: report
South Korea's global competitiveness ranking remains unchanged in 2012 from a year earlier despite persistent economic uncertainties, an international institute said Thursday.According to the 2012 World Competitiveness Yearbook unveiled by the International Management Development Institute (IMD), South Korea ranked 22nd in competitiveness among the 59 countries surveyed.IMD is a Switzerland-based
May 31, 2012
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EU investment in Korea surges 60.5 percent after FTA: report
Inbound investments from the European Union to South Korea surged 60.5 percent after the free trade pact went into effect last year, a government report showed Wednesday.The finance ministry report tallied for the last three quarters showed foreign direct investment from Europe reaching $3.56 billion from July of last year through the end of March. In the same period, overall FDI that arrived in the country contracted 0.8 percent on-year to $10.65 billion.The free trade agreement between South K
May 30, 2012
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Korea's current account shrinks to $1.78 billion in April
South Korea's current account surplus shrank in April from the previous month mainly due to a drop in exports, the central bank said Wednesday.The current account surplus reached US$1.78 billion last month, down from $2.97 billion in March, according to the Bank of Korea (BOK). The figure is larger than the $1.28 billion surplus tallied a year earlier and marks the third month in a row that the cu
May 30, 2012
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KT&G adds low-tar BOHEM to lineup
Tobacco manufacturer and distributor KT&G announced on Tuesday that it has added a new low-tar product, Bohem Cigar Mojito 1mg, to its Bohem Cigar Mojito line that is popular among young smokers. Bohem Cigar Mojito 1mg, which will go on sale on June 1, contains 1mg of tar and 0.1 mg of nicotine, and is priced at 2,500 won ($2.10) per pack. The new product aims to attract fans of the mojito-flavored cigarettes who had been discouraged by Cigar Mojito’s heavy concentration of tar which is as high
May 29, 2012
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Visitors left fuming after Expo scraps booking system
Long wait times frustrated visitors at the Yeosu Expo after the organizing committee hastily scrapped the exhibit booking system due to complaints.Visitors had to wait for up to seven hours to see the aquarium on Monday, with lines extending as long as three kilometers.Until Sunday noon, eight exhibition halls, including the aquarium, the Korea Pavilion and the Theme Pavilion, required reservations made through the Internet or kiosks at the expo site. The system was aimed at reducing wait times.
May 29, 2012
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Korean firms expect worse conditions in H2: poll
Nearly six out of 10 South Korean companies expect overall economic conditions to deteriorate in the second half of this year mainly due to mounting eurozone woes and a slowdown in the Chinese economy, a poll showed Tuesday.The survey on 500 local companies by the Korea Chamber of Commerce and Industry showed 59 percent of all respondents predicting worsening conditions ahead, with 96 percent claiming economic conditions are already bad.The report by the country’s largest private economic organi
May 29, 2012
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Government to host seminar on development
South Korea will convene a meeting of officials from China, Japan and other Asian countries on Wednesday to discuss ways to foster sustainable development without increasing budget deficits.The Ministry of Strategy and Finance said it will host the conference at the Grand Intercontinental Hotel in southeastern Seoul through Friday jointly with the International Monetary Fund to focus on ways to secure state budgets for sustainable growth amid the worsening debt crisis in the eurozone.The seminar
May 28, 2012
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Trade deal spurs record flow of North Sea oil to S. Korea
An unprecedented 24 million barrels of North Sea crude were exported to South Korea since December after a free trade agreement with the European Union opened the 16,500-mile (26,500-kilometer) arbitrage trade. Twelve very large crude carriers have been booked to transport the oil to South Korea since mid-December, the most on record over a five-month period, according to tanker reports and ship-tracking data from IHS Inc. The FTA, which started in July 2011, gives refiners in the Asian nation a
May 28, 2012
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International airline traffic surges 22.6%
South Korea’s international air passenger traffic surged 22.6 percent in April from a year earlier due to a sharp rise in visitors from Japan and other countries, and more Koreans going abroad, the government said Monday.The number of international air passengers came to some 3.75 million last month, the highest number for the month of April, according to the Ministry of Land, Transport and Maritime Affairs.The previous record was reached in April 2011, when numbers hit 3.07 million.The ministry
May 28, 2012
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Korea to build world’s largest hydrogen-powered town
The Ministry of Knowledge Economy said Monday that it will launch the “Hydrogen Town Pilot Project” to establish futuristic energy infrastructure that uses waste hydrogen and hydrogen fuel cell technologies to meet the nation’s energy consumption needs.With a budget of 9 billion won ($7.6 million) coming from the government and industries, the project will create the world’s largest hydrogen-powered town in Korea, potentially by late this year when related facilities are completed as scheduled,
May 28, 2012
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EUCCK to meet on nuclear power plant
The European Chamber of Commerce in Korea, or EUCCK, will hold an executives’ round table meeting in Seoul on June 7.It will be held at the EUCCK headquarters, located in Euljiro 4-ga, Jung-gu.Seoul Metropolitan City’s Chief of the Climate Environment Department, Lim Ok-ki, will discuss the possibility of turning off a nuclear power plant in the city.For more information, please visit www.eucck.org.
May 28, 2012
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FKCCI to host Caf du Commerce
The French Korean Chamber of Commerce and Industry, or FKCCI, will hold an informal networking session on June 7.As part of its Cafe du Commerce series, the event will take place at the Novotel Ambassador Gangnam from 6:30 p.m. to 8:45 p.m.Guests can enjoy a French-style buffet featuring regional as well as traditional dishes. Wine will also be offered. The event costs 26,000 won. For more information, call (02) 531-6868 or e-mail novogfbcoord@ambatel.com.
May 28, 2012
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Business Start-up School invites expats
The Seoul Global Center is inviting future entrepreneurs to the second session of its Business Start-up School for this year, officials said.The program provides expats in Seoul with the necessary information to set up and run a business successfully as well as a chance to network with other expats and local professionals, the officials said.The Business Start-up School is a tuition-free program run by the Seoul Metropolitan Government.The program will last for 10 days starting June 25 at the Se
May 28, 2012
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Tax seminar for foreign businesses at COEX
The Seoul Global Business Support Center will hold a tax seminar on Tuesday for foreign businesses operating in Korea, organizers said.The seminar will run from 6:30-9p.m. at a COEX conference room on the third floor in southern Seoul. Tax experts Bae Jin-ho and Lee Young-mi will speak about how to operate a business in Korea and make it successful, according to the organizers.After the speech, a question-and-answer session and networking time will be given to participants.
May 28, 2012