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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[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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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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[Monitor] Median price of Seoul apartments surpasses W700m
The median price of apartments in Seoul surpassed 700 million won ($651,000) for the first time in January. According to KB Bank, the price rose 3 percent from the previous month, reaching 705 million won. The bank has been conducting surveys on the median apartment price since December 2008. The median price is the figure in the middle of the numbers that range from lowest to highest.
Feb. 2, 2018
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S. Korea, China agree to boost tourism, economic cooperation
The top economic policymakers of South Korea and China agreed to boost bilateral tourism and economic cooperation, Seoul's finance ministry said Friday, in a sign that Beijing may stop its retaliation against South Korean companies over the stationing of a US missile system. The agreement came after talks between South Korean Finance Minister Kim Dong-yeon and his Chinese counterpart, He Lifeng, chairman of China's National Development and Reform Commission, earlier in the day. Kim has said
Feb. 2, 2018
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Inflation weakest in 17 months, Seoul vows actions to keep prices flat
South Korea’s monthly consumer inflation came to 1 percent in January on-year, the slowest gain in 17 months, as the prices of agricultural goods such as vegetables fell, data showed Thursday.Calling such weak inflation “economic stability at target range,” the government pledged Thursday to carry out pre-emptive measures to curb consumer price fluctuations ahead of next week’s 2018 PyeongChang Olympic Winter Games and the national Lunar New Year holiday later in the mont
Feb. 1, 2018
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Korea's exports jump 22.2% in Jan. on memory chips
South Korea's exports soared 22.2 percent in January from a year earlier on brisk sales of memory chips and petrochemical products, government data showed Thursday. Outbound shipments came to $49.21 billion for January, up from $40.25 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Exports rose for the 15th month in a row, posting double-digit growth for the first time in four months.Imports also jumped 20.9 percent on-year to $45.48 billion
Feb. 1, 2018
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US safeguards could hurt trade talks with Korea: ex-negotiator
The United States' recent issuance of safeguard measures against washers and solar panels could hurt the prospects of amending a bilateral free trade agreement with South Korea, a former US negotiator said Wednesday.Wendy Cutler, former chief negotiator for the Korea-US free trade agreement, raised the concern as bilateral talks are under way to renegotiate the five-year-old pact.A week earlier, US President Donald Trump approved tariffs on imported large residential washing machines and solar c
Feb. 1, 2018
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Korea seeks qualitative growth of inbound tourism
Korea's tourism promotion agency said Wednesday it will push forward efforts to stabilize and diversify the country's inbound tourism market this year, as part of its broader aims to achieve qualitative growth.The Korea Tourism Organization plans to unfold a two-track approach where it focuses on stabilizing inflows of visitors from such countries as China, Japan and the United States, while diversifying its portfolio by attracting people from other countries, including Vietnam and India.The tou
Jan. 31, 2018
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Korea, US begin 2nd round of FTA talks
South Korea and the United States on Wednesday began their second round of talks to amend their free trade agreement, amid rising trade tensions between the two nations over Washington slapping steep tariffs on washers and solar panels.The two-day talks come a week after US President Donald Trump signed safeguard tariffs on foreign washers and solar panels, including those from South Korea, saying the measures would protect American jobs.The Seoul government is expected to raise the topic of US
Jan. 31, 2018
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Samsung, LG add new logistics facilities in US over safeguard measures
Samsung Electronics Co. and LG Electronics Inc. said Tuesday they have set up new logistics facilities in the United States in an apparent move to better cope with US safeguard measures.Samsung Electronics America has signed a deal with a real-estate firm to lease a 421,000-square-foot facility in Edgefield County, South Carolina, a Samsung official said.The new facility appears to serve as a hub for warehousing and shipping washing machines being produced in Samsung's appliance factory in Newbe
Jan. 30, 2018
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Washing machine exports on decline with more blows expected from US safeguard
South Korea's washing machine exports have nearly halved over the past five years, customs data showed Tuesday, with more declines likely from new US safeguard measures.Last year's tally from the Korea Customs Service said washer exports last year amounted to US$118.6 million, down $4.56 million from the previous year. Shipments of the home appliance have been dropping for eight years after peaking at $392.4 million in 2009. Figures comparing the last five years show that last year's exports wer
Jan. 30, 2018
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S. Korea to turn Sejong, Busan into safe, smart cities by 2023
he South Korean government confirmed Monday its plan to develop smart cities over the next five years, choosing Sejong and Busan as test beds. The Presidential Committee on the Fourth Industrial Revolution said it selected districts in the administrative hub city Sejong and port city of Busan as places to apply innovative technologies, including autonomous driving, artificial intelligence, smart energy management and virtual reality, in order to make them world-renowned smart cities by 2023. The
Jan. 29, 2018
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Korea eyes opportunities in China's growing service market
South Korea's trade ministry said Monday it will hold talks with China to expand the scope of the two countries' free trade agreement to the service and investment sector in a way to create new business opportunities for local companies in the tourism, culture, legal and medical industries. The Ministry of Trade, Industry and Energy held a meeting with industry officials and trade experts to collect their opinions before launching the follow-up FTA negotiations with Beijing. South Korea a
Jan. 29, 2018
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Seoul, Beijing to hold economy minister meeting this week
The economic chiefs from South Korea and China will meet in Beijing this week to discuss an array of issues, including further boosting economic cooperation.During the gathering slated for Friday, Seoul's Finance Minister Kim Dong-yeon and his Chinese counterpart He Lifeng, chairman of China's National Development and Reform Commission, will seek ways to flesh out the outcome of December summit talks between leaders of the two countries, according to the ministry. President Moon Jae-in and Chine
Jan. 29, 2018
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[News Focus] Seoul faces dilemma on taxing cryptocurrency
While accelerating its moves to tighten control over the overheated cryptocurrency market, the South Korean government now faces another dilemma: Can the disputed virtual currency be incorporated into the nation’s tax system?The greatest challenge is that, in order to impose tax, the government has to first recognize the disputed cryptocurrency as a legitimate financial product -- a view which a number of key policymakers have so far refused to adopt.The pressure weighs upon Deputy Prime M
Jan. 28, 2018
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S. Koreans interested in starting own biz, earnings top consideration: poll
A large number of South Koreans are interested in starting their own businesses and earnings are their top consideration, a poll conducted by a public start-up support foundation showed Sunday.The latest findings from the Korea Institute of Startup & Entrepreneurship Development revealed that 53.5 percent of the respondents said they are examining the possibility of founding a business, compared to 46.5 percent who said they are not contemplating such a step.The data was based on questions h
Jan. 28, 2018
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Korea, US to hold 2nd round of FTA renegotiation talks next week
South Korea and the United States plan to hold the second round of talks to amend their free trade pact in Seoul next week, Seoul's trade ministry said Friday, amid mounting US trade pressure.The two-day talks -- set to begin Wednesday -- come days after US President Donald Trump again denounced the free trade deal as "a disaster" for the US, claiming the deal cost 200,000 American jobs.Trump signed a set of safeguard measures earlier this week against imported large residential washin
Jan. 26, 2018
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Israeli envoy invites Korean firms to take part in infrastructure projects
The top Israeli envoy to Seoul hopes South Korean companies will actively participate in his country's infrastructure projects, such as gas field development, the finance ministry said Friday.Ambassador Chaim Choshen met with Ko Hyoung-kwon, vice minister of strategy and finance, and discussed economic cooperation, according to the ministry. During the talks, the envoy also suggested cooperation between Israel's information-technology solutions with South Korea's auto manufacturers, as an exampl
Jan. 26, 2018
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Seoul 'cautiously' considers higher property tax
South Korea's chief economic policymaker said Friday the government is "cautiously" considering raising property taxes in yet another attempt to tame rising home prices.Finance Minister Kim Dong-yeon said there are speculative demands in some areas such as the wealthy Gangnam Ward and adjacent districts."We have been reviewing many options in regard to a hike in property ownership tax," Kim said in a session with senior journalists at the press center in central Seoul.There h
Jan. 26, 2018
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Koreans still distrustful of Japanese fish products after nuclear meltdown
A majority of South Koreans favor banning the import of Japanese fishery products, a survey showed Friday, underscoring lingering safety concerns about possible radioactive contamination.Radioactive water leaked following the meltdown at Japan's Fukushima nuclear power plant in 2011.The Consumers Union of Korea polled 1,023 adults across the country last year, and the results showed 55.3 percent want stronger import restrictions. Another 37.2 percent said the restrictions should be "very he
Jan. 26, 2018
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[Monitor] Detached house prices surge
In a country where apartments are generally and mostly the preferred form of residence, the prices of detached, single houses have been showing a rapid surge, data by the Land Ministry showed.Of the 25 districts in Seoul, Mapo and Yongsan displayed significant increase in prices, as the two areas have diverse large-scale development plans in store. (khnews@heraldcorp.com)
Jan. 25, 2018
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Korea orders companies to reduce power amid bitter cold
South Korea's state-run power exchange said Thursday it has ordered local companies to cut their power use to maintain a stable electricity reserve rate for the second consecutive day as the bitter cold gripping most of the nation was driving up heating demand.The Korea Power Exchange said it issued a demand response order to companies to cut electricity use between 9 a.m. and 11:30 a.m. as the country's power use soared to 86 million kilowatts earlier in the morning. The order, the fourth this
Jan. 25, 2018