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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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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China outpaces Korea in smaller OLED shipments for 1st time
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Med schools expect 1,500+ new admission slots next year
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For most, lunch time not just for a meal
One out of four workers prefers doing something more productive during lunch time than just eating, according to a survey.In a research conducted by Saramin, an online recruitment website in Korea, about quarter of participants said they were “lunch tourists.” The term refers to those who spend lunch break just for themselves, rather than having a long meal or interacting with colleagues.Out of th
May 4, 2011
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HMA posts record April sales due to recovering economy
WASHINGTON (Yonhap) -- Hyundai Motor America announced all-time record April sales on Tuesday as the world's biggest economy continues to stabilize after the worst recession in decades. HMA sold 61,754 units, up 40 percent from a year earlier. The figure for the first four months of this year is 204,374 vehicles, up 31 percent from 155,532 during the same period last year. Hyundai's sister co
May 4, 2011
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Foreign ownership of S. Korean stocks tops 400 tln won
Foreign ownership of South Korean stocks exceeded the 400 trillion won ($374 billion) mark for the first time ever in April on their brisk buying spurred by strong corporate earnings, the financial regulator said Wednesday. Foreign investors' holdings of local shares amounted to 412.51 trillion won as of the end of April, or 30.8 percent of the total market cap, according to the monthly report b
May 4, 2011
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FSS official apparently committed suicide
An official of South Korea's financial regulator apparently jumped to his death on Tuesday, but the incident does not appear to be related to a scandal involving a local savings bank, police and the Financial Supervisory Service said, according to Yonhap News. The official, identified only by his surname Kim, was bleeding when he was found by a security guard at the entrance of an apartment on Tu
May 4, 2011
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S. Korea's reserves top $300 billion for first time
South Korea's central bank says the country's foreign reserves have topped $300 billion for the first time as the nation's key buffer against potential financial turmoil surged to its fourth straight record high.The Bank of Korea said in a statement Tuesday that the nation's official foreign reserves totaled $307.20 billion at the end of April. That was $8.58 billion higher than the previous recor
May 3, 2011
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Consumer prices grow 4.2% in April
Korea's consumer prices grew at a slower pace in April, but they still remained relatively high, raising concerns price hikes might undercut the overall momentum of the economic recovery, a report showed Monday.According to the report by Statistics Korea, the country's consumer price index jumped 4.2 percent last month from a year earlier. It was slower than the previous month's 4.7 percent gain b
May 2, 2011
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Korea mulling cutting 2011 growth forecast
The South Korea government is considering lowering its projection of economic growth in 2011 to around the upper range of 4 percent while upping its inflation projection to the upper range of 3 percent due to the rising oil prices, sources said Sunday.The Korean government has been targeting around 5 percent economic growth this year while containing inflation at 3 percent, but mounting inflationa
May 1, 2011
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[Herald Interview] From kiwi to beef, Chile looks for greater access
Chile has been a reliable provider of agricultural products to Korea for many years and is looking to expand and hasten new products into the local market.Beef is big business and one that brings heated debate whenever a new country is looking to establish its product in the minds of local consumers.Currently, Korea bans beef from countries that do not vaccinate their cattle against foot and mouth
May 1, 2011
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Korea posts $5.82b trade surplus in April
South Korea’s trade surplus surged to $5.8 billion in April, up sharply from $2.8 billion the previous month on brisk exports of petroleum products and ships, the Ministry of Knowledge Economy said Sunday. Exports rose 27 percent on-year to $49.77 billion last month, with imports rising 24 percent to $43.95 billion, according to the ministry.“The record-high export numbers were the result of local
May 1, 2011
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S. Korea's trade surplus reaches $5.82 bln in April
South Korea's trade surplus reached $5.82 billion in April up sharply from US$2.78 billion the previous month amid brisk exports, a government report showed Sunday.April marks the 15th straight month that the country has posted a favorable balance. Exports rose 26.6 percent on-year to $49.77 billion last month, with imports rising 23.7 percent to $43.95 billion, according to the report by the Mini
May 1, 2011
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Korean iPhone users sue Apple
A group of Korean iPhone users on Thursday filed a class action lawsuit against U.S. telecom giant Apple Inc. and its Korean unit over the firm's allegedly illegal collection of users' location data.It will be the first such case in the country."We learned that our whereabouts over the past six months were entirely revealed. It's a privacy violation," said legal representatives of 29 plaintiffs in
April 29, 2011
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Korea's industrial output grows 8.7% in March
Korea's industrial output grew for the 21st straight month in March, indicating that the nation's economy continued to expand, a government report showed Friday.According to the report by Statistics Korea, production in the mining and manufacturing industries rose 8.7 percent last month from a year earlier. Output has increased every month since July 2009. The expansion was fueled mainly by increa
April 29, 2011
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State media regulator to soon question Google over location log
The Korea Communications Commission said Thursday that it plans on sending a questionnaire to Google Inc. involving the collection of location information of its smartphone users here.The event takes place a few days after the state media and telecommunications regulator launched an investigation against Apple Inc. on Monday over collection of information of its smartphone users.In a questionnaire
April 28, 2011
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Chaebol seethe at Seoul’s control drive
The country’s corporate giants appeared to be inwardly seething over the latest remarks from a presidential aide who said public funds should play a bigger role in promoting corporate governance by more proactively exercising their shareholder rights.Samsung Electronics, which Kwak Seung-jun mentioned as one company that needs to see more of its shareholders taking control, refused to comment, say
April 27, 2011
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Business sentiment up for May
South Korea’s business sentiment for May rose from a month ago on expectations about solid economic growth at home and abroad, a poll showed Wednesday.The monthly Business Survey Index (BSI) for the upcoming month came in at 104.3, compared with 98.4 a month earlier, according to the Federation of Korean Industries (FKI), the country’s leading business lobby.A reading below 100 means pessimists ou
April 27, 2011
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Ulleung Island in East Sea to be zero-carbon area
By Choi He-suk Ulleung Island in the East Sea will be established as a zero-carbon island where most energy requirements are met by renewable sources, according to a government plan released Wednesday.As such, the government will draw up comprehensive plans to turn Ulleung Island into a “green island” that surpasses Denmark’s Samso Island in terms of renewable energy uses, the Ministry of Knowledg
April 27, 2011
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Controversy to elevate on location-based service bill
By Cho Ji-hyunThe government has approved a plan to relax the regulations on cellphone location-based services amid rising public calls for better state privacy protection measures.The Cabinet endorsed Tuesday a revised regulation on protection and use of location information, which aims to give more room and flexibility for location-based service operators. According to the bill, service provider
April 27, 2011
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S. Korean economy grows 1.4 pct in Q1
The South Korean economy grew 1.4 percent in the first quarter from three months earlier on sustained exports and improving domestic demand, the central bank said Wednesday.The first-quarter growth accelerated from a 0.5 percent on-quarter expansion seen in the fourth quarter of last year, according to an advance estimate by the Bank of Korea (BOK). The country's gross domestic product (GDP), the
April 27, 2011
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Lee aide urges public funds to keep chaebol in check
A presidential aide Tuesday urged the national pension and other public funds to avidly exercise their shareholder rights in order to keep larger companies in check.“Public funds exercising their shareholder rights (in large companies) are the most effective way to keep the large companies and their power in check,” said Kwak Seung-jun, head of the Presidential Council for Future and Vision at a p
April 26, 2011
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Seoul-Beijing direct flights to open in July
South Korea and China have agreed to provide flight services between Seoul and Beijing in a move to reduce overall travel time, the transportation ministry said Tuesday.The two nations recently signed a memorandum of understanding to allow their airlines to offer direct flights between Gimpo International Airport, west of Seoul, and Beijing International Airport starting in July, the ministry said
April 26, 2011