The Korea Herald

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iPhone 6s to launch in Korea on Oct. 23

IndustryOct 9, 2015

U.S. tech giant Apple Inc.'s latest iPhone 6s series is set to reach the South Korean market, industry sources said Friday, signaling another battle with domestic brands such as Samsung and LG. The iPhone 6s and iPhone 6s Plus, first showcased last month, will be available for purchase through the country's three mobile carriers on Oct. 23, the source said. Pre-orders are expected to start on Oc...
Blatter suspended as FIFA president

World NewsOct 9, 2015

Sepp Blatter is out of a job at FIFA. Michel Platini might never even get there. Two of the most powerful men in soccer were handed 90-day suspensions by the FIFA ethics committee on Thursday, essentially ending Blatter's 17-year reign as president and likely stunting Platini's chances of replacing him. Both Blatter and Platini, former allies who turned into rivals in the buildup to the most re...
S. Korea beat Kuwait for 4th straight win in World Cup qualification

SoccerOct 9, 2015

South Korea defeated Kuwait 1-0 here Thursday for their fourth consecutive victory in the Asian qualification for the 2018 FIFA World Cup, inching closer to their ninth straight appearance in the quadrennial tournament. Midfielder Koo Ja-cheol put South Korea on the board with a header in the 12th minute, and it was all South Korea needed in the hard-fought victory at Al Kuwait Sports Club Stadi...
U.S. commander says N. Korea capable of firing nuclear missile to homeland

North KoreaOct 9, 2015

A top U.S. military commander has said he believes North Korea is capable of firing a nuclear missile that can reach the continental United States, but the country's ready to defend against such attacks. Adm. William Gortney, commander of U.S. Northern Command, made the remark at a think tank event Wednesday, saying he agrees with the intelligence community's assessment the North has the ability...
Government plans to kick out underperforming public workers

Oct 5, 2015

The Finance Ministry plans to map out a guideline on dismissing employees at state-funded agencies or institutions with poor performance records, as part efforts to reform the public sector. The policy is an extension of the government’s recent pledge to vitalize the scheme to lay off low-performing civil servants, which was introduced in 2006. Deputy Prime Minister and Minister of Strategy and...
Financial markets face lackluster month as U.S. rate issue resurfaces

Oct 2, 2015

South Korea’s financial market is likely to face another tough test this month as the possibility of a base rate hike in the U.S. has come to the fore again, even as many market participants had expected it to remain unchanged for two more months. The nation’s stocks and currency appeared to be rising after the Chuseok holidays in late September. But the benchmark KOSPI dropped and the won lost ...
New economic data inspires hope despite G2 risks

Oct 1, 2015

While the economic forecasts for Korea in the third quarter of the year have been mostly gloomy in the wake of the so-called G2 risks -- China’s economic slowdown and the likelihood of the U.S. key rate hike -- new data released Thursday offer some hope of a revival. The two external uncertainties still linger on, which is restricting both economic vitalization and hampering the stock and curren...
Financial groups still reliant on banking profits

Sept 29, 2015

South Korea’s financial sector has yet to mature in terms of diversifying its profit-taking structure, data from the Financial Supervisory Service showed Tuesday. According to an analysis of eight financial groups by the regulator, the commercial banking segment still accounted for their major earnings during the first half of the year. Further, the proportion of earnings reaped by their bankin...
Korea’s exports likely to drop 4-6% this year

Sept 22, 2015

South Korea’s exports are expected to post negative growth this year in the wake of an economic slowdown in its major trade partners including China, officials and experts said Tuesday. Exports account for about half of the nation’s gross domestic product. And the volume, including intermediate goods for processing trade, shipped to China accounts for 25 percent of Korea’s total exports. The na...
Uncertainty lingers on despite U.S. rate freeze

Sept 18, 2015

The uncertainty about financial volatility at home and abroad is expected to linger on until late October as the U.S. Federal Reserve decided to keep interest rates on hold in its September meeting amid split predictions in the market, analysts said Friday. As Federal Reserve Chair Janet Yellen took an ambiguous position over the timing of an increase, South Korea’s financial indexes moved in a ...
KOSPI fails to top 2,000 despite U.S. rate freeze

Sept 18, 2015

The uncertainty involving the likelihood over the U.S. rate hike is expected to linger on at least five more weeks until late October, as the Federal Open Market Committee overnight chose to freeze in its September rate-setting amid split predictions in the market, analysts said Friday. As Federal Reserve chair Janet Yellen took an ambiguous position over the timing of raising the rate, South Ko...
[URGENT] FOMC freezes base rate

Sept 18, 2015

[URGENT] FOMC freezes base rate The U.S. Federal Open Market Committee kept the benchmark interest rate untouched at 0-0.25 percent per annum on Friday (Korean time). ( khnews@heraldcorp.com )
Stocks hit 1-month high ahead of FOMC meeting

Sept 16, 2015

Stocks and currency gained sharply in the domestic market Wednesday on the back of Standard & Poor’s upgrade of Korea’s sovereign rating a day earlier and the overnight increase of the U.S. bourse. The benchmark KOSPI rose 37.89 points, or 1.96 percent, from the previous trading session to close at 1,975.45. This marked the highest in one month since it reached 1,983.46 on Aug. 13. The equities...
Korea’s household debt ratio soars

Sept 15, 2015

South Korean households’ debt problem is higher than other emerging economies, a research report from a Swiss financial organization showed Tuesday. According to the Bank for International Settlements, the nation’s ratio of household debt to gross domestic product was 84 percent at the end of 2014. The debt figures include microcredit loans issued to the self-employed. Korea topped the list amo...
Finance Ministry urged to tackle rising national debts

Sept 14, 2015

The Ministry of Strategy and Finance has come under criticism for reportedly inflating its yearly growth target, which caused the government to see far less-than-expected tax revenue, opposition lawmakers said Monday. During the National Assembly’s audit on the ministry, Rep. Yun Ho-jung of the New Politics Alliance for Democracy said the Finance Ministry has set its nominal growth target of bet...