Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Top court again suspends custody of CJ head
The nation's top court on Wednesday again accepted a request from the convicted chairman of food and entertainment conglomerate CJ Group to suspend his imprisonment for hospital treatment.The Supreme Court decided to suspend the confinement of Lee Jay-hyun, who was found guilty of various corruption charges, for the next four months, citing his poor health.But Lee's place of stay will be limited to Seoul National University Hospital until March 21, the court said. In an appeals court ruling in S
Nov. 19, 2014
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MSCI adds Samsung SDS to emerging market index
Global index provider MSCI has added Samsung SDS Co., a key IT unit of Samsung Group, and three other Korean stocks to its emerging market index in its latest quarterly review, which will take effect later this month, according to its website Wednesday.The U.S.-based provider of investment research and indices included Samsung SDS, which was listed on the Seoul bourse Friday, immediately becoming the nation's sixth-largest company by market capitalization. MSCI also added Daum Kakao Corp., CJ K
Nov. 19, 2014
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KDI discourages support for insolvent companies
The state-run Korea Development Institute on Tuesday called for a decrease in the financial support for insolvent companies as it could delay their restructuring and hamper their economic dynamism. The KDI said in its report that increasing support for so-called “zombie companies” ― insolvent companies relying on external financial support ― would have a negative impact on the economy as a whole. The existence of the companies would keep labor costs and interest rates high, thus having a negativ
Nov. 18, 2014
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Korean car parts fail to compete on price: poll
South Korean car parts are of high quality but suffer from weak price competitiveness, a poll showed Tuesday.The survey of 87 corporate buyers attending this year’s Automotive Aftermarket Product Expo (AAPEX) in the United States found that they gave locally made parts 4.6 points out of a possible 5 in quality, but numbers fell to 3.2 points in price and 2.7 in terms of payment. Locally made products also got 3.3 points in design.According to the survey by the state-run Korea Trade-Investment Pr
Nov. 18, 2014
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FTC chairman nominee known for expertise in fair competition
The nominee for the head of the country’s corporate watchdog is a career administrator known for his deep experience and knowledge in fair competition, experts said Tuesday.President Park Geun-hye earlier tapped Jeong Jae-chan as the head of the agency in charge of investigating price rigging and other activities deemed to hurt market competition.Jeong, 58, started his career in 1978 by passing a public servant examination and spent most of his time at the FTC. In the past decade, in particular,
Nov. 18, 2014
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Starbucks Wi-Fi requires tougher authentication for locals
South Korea-based Starbucks coffee shops require more complex authentication procedures for its Wi-Fi service powered by KT Corp. for local customers compared to foreigners, industry sources said Tuesday, raising a controversy over possible discrimination.Currently, local Starbucks shops require visitors to type in their name, email, mobile phone number and service providers in order to use free Wi-Fi on the Korean version of its Web page, whereas the English version only requires name and email
Nov. 18, 2014
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Hyundai Genesis wins U.S. Residual Value Award
Hyundai Motor’s Genesis sedan won the 2015 Residual Value Award issued by the Automotive Lease Guide for premium fullsize cars sold in the United States, the nation’s largest carmaker said on Tuesday.The company said the award was a recognition that the Hyundai brand is making a name for itself in the premium segment of one of the world’s largest automobile markets. The award put the Genesis sedan ahead of its foreign rivals such as the Volvo XC70, Lexus GS, Audi A6 and BMZ 5 series cars.The ALG
Nov. 18, 2014
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KEPCO KDN’s ex-chief booked for allegedly lobbying lawmakers
A former chief of a subsidiary of state-run power company Korea Electric Power Corp. has been booked on suspicion of providing illegal political funds to four lawmakers in return for business favors, police said Tuesday. The former chairman of KEPCO Knowledge, Data & Network Co., only identified by his surname Kim, allegedly ordered 568 employees to provide funds to the lawmakers in exchange for helping reject a bill unfavorable to the company, the National Police Agency said. The incumbent legi
Nov. 18, 2014
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Korea needs facility for spent nuclear fuel by 2045
South Korea should start building a new facility to permanently dispose of its spent nuclear fuel by at least 2045, along with interim facilities that can hold such highly radioactive waste until then, a public debate commission said Tuesday.“Considering our circumstances, the commission believes the country needs to start operating a repository for permanent disposal of spent nuclear fuel by 2055,” Hong Doo-seung, head of the Public Engagement Commission on Spent Nuclear Fuel Management (PECOS)
Nov. 18, 2014
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Pungnap offers affordable English camp experience
Pungnap Camp, an English language camp in Songpa-gu, Seoul, is open to elementary and middle school students during the upcoming winter vacation, camp organizers said Tuesday. They stressed that the best part of the camp is that unlike some of the English language camps that demand sky-high prices, students would be able to take part in high-quality programs lasting up to three weeks at affordable prices of around 1 million won ($900).The programs, the organizers said, were created to not only h
Nov. 18, 2014
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S. Korean car parts suffer from weak price competitiveness: poll
South Korean car parts are of high quality but suffer from weak price competitiveness, a poll showed Tuesday.The survey of 87 corporate buyers attending this year’s Automotive Aftermarket Product Expo (AAPEX) in the United States found that they gave locally made parts 4.6 points out of a possible 5 in quality, but numbers fell to 3.2 points in price and 2.7 in terms of payment. Locally made products also got 3.3 points in design.According to the survey by the state-run Korea Trade-Investment Pr
Nov. 18, 2014
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S. Korea should build facility for spent nuclear fuel by 2045: commission
South Korea should start building a new facility to permanently dispose of its spent nuclear fuel by at least 2045, along with interim facilities that can hold such highly radioactive waste until then, a public debate commission said Tuesday."Considering our circumstances, the commission believes the country needs to start operating a repository for permanent disposal of spent nuclear fuel by 2055," Hong Doo-seung, head of the Public Engagement Commission on Spent Nuclear Fuel Management (PECOS)
Nov. 18, 2014
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IKEA Korea faces teething problems
Swedish furniture and appliance retailer IKEA, which will open its first outlet here next month, is facing criticism for using the name “Sea of Japan” on its products and website to name the waters between South Korea and Japan. The company was also rebuked for charging more for products in Korea than overseas. Consumers had expected IKEA to stay true to its promise to provide high-quality goods at affordable prices. The controversies arose after IKEA Korea officially opened its official website
Nov. 17, 2014
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Kia launches new K9 luxury sedan
Kia Motors on Monday launched the latest version of its K9 sedan in the Korean market. (Ahn Hoon/The Korea Herald)Kia Motors, Korea’s second-largest carmaker, said on Monday that it had launched the latest version of the K9 luxury sedan here. The new K9 has a refined tiger nose radiator grille and taillight assembly that give the car a more upscale feel. Sold overseas as the Quoris or K900, the newest version of the K9 also touts a smart trunk system and electronic transmission shifter.In terms
Nov. 17, 2014
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Incheon Airport rail link discount a hit with tourists
Group discounts on express trains operated by Incheon Airport Railroad Express are gaining popularity among international travelers in Korea, according to the railway operator last week. Since April, Incheon Airport Railroad has been offering a 25 percent discount per person on nonstop express trains for groups of four people or more as a means of attracting more travelers. The discounted ticket fare is 6,000 won ($5.47) per person, down from 8,000 won. Visitors wait in line to buy tickets for t
Nov. 17, 2014
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Asiana appeals 45-day flight suspension
Asiana Airlines on Monday said it had formally appealed a 45-day government ban on flights on its Incheon-San Francisco route for a crash last year that left three people dead.In the appeal submitted to the Ministry of Land, Infrastructure and Transport, the country’s second-largest carrier accused the government of having planned the sanctions in advance, saying that the administrative decision had “already been made” even before the deliberations began. The carrier also criticized the ministry
Nov. 17, 2014
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IPO stocks enjoy decent returns after listing
Three-fourths of stocks listed on the Seoul bourse this year have delivered decent returns as investors bet big on growth of new entrants amid lagging performance of large-cap stocks, industry data showed Monday. Stock prices of 32 newcomers on the main bourse and tech-laden KOSDAQ jumped 46.74 percent on average as of Nov. 14 compared to prices for the initial public offerings, according to data compiled by Seoul-based Daishin Securities. In particular, four stocks listed on the main KOSPI mark
Nov. 17, 2014
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[SUPER RICH] Hong Kong billionaire bets on Yeongjongdo jackpot
Pedestrians walk past the K11 Art Mall in Shanghai operated by New World Development, an affiliate of Chow Tai Fook owned by Cheng Yu-tung. (Bloomberg)Cheng Yu-tung, 89, who is the fifth-richest man in Hong Kong with a net worth of $15.5 billion as of this January, made headlines here when he turned his attention to Yeongjongdo Island, located in the Incheon Free Economic Zone, with the aim of developing a casino-based integrated complex.According to IFEZ, Cheng’s Chow Tai Fook Enterprises signe
Nov. 17, 2014
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[SUPER RICH] Landowners in Korea’s most exclusive area
To Koreans, land is more than just money, especially when you own property in highly sought-after areas. This is because owning a plot of land is not just about making money, but also about power and status.For example, Cheongdam-dong in southern Seoul is one of the city’s most affluent neighborhoods. In 1967, it was still part of Gyeonggi Province, and was full of pear orchards, but it began its transformation from about 1975 into a home for the emerging superrich as high-rises and expensive ap
Nov. 17, 2014
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Asiana appeals 45-day flight suspension
Asiana Airlines Inc., South Korea's second-largest flag carrier, said Monday that it has formally appealed a 45-day government ban on flights on its Incheon-San Francisco route, imposed following its crash last year that left three people dead.The appeal made to the Ministry of Land, Infrastructure and Transport argued that the administrative action taken by a seven-person panel was effectively reached in advance of the deliberation process. It added that selection of members to sit on the panel
Nov. 17, 2014