Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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KITA holds forum to support Korea-China business cooperation
South Korean and Chinese government leaders and business representatives on Saturday gathered to discuss future cooperation at a business forum organized by Korea International Trade Association on the occasion of President Moon Jae-in’s China visit, the association said Sunday.Along with Moon, a total of some 300 participants joined talks held in Chongqing, to share ideas on potential partnerships in various industries as well as in jointly advancing into other markets. President Moon Jae-in (f
IndustryDec. 17, 2017
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Korea’s internet business body regrets US decision to kill net neutrality
South Korea’s representative internet business body on Sunday expressed regret over the US Federal Communications Council’s landmark decision to repeal net neutrality rules that had required internet service providers to offer equal access to all web content without discrimination.The Korea Internet Corporations Association released a formal statement citing “deep worries” over what they called negative consequences that the US FCC’s decision is expected to have on the global internet industry,
TechnologyDec. 17, 2017
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UK-based Dyson to announce official stance on legal dispute with LG soon
UK-based electronics maker Dyson will soon announce its official stance on the ongoing legal process involving South Korean rival LG Electronics, according to industry sources Sunday. Dyson recently filed an injunction with a Seoul court to ban advertisements of LG’s flagship hand-held stick cleaner Cordzero A9, as market competition intensifies.“It is unprecedented that Dyson’s headquarters filed such legal action in any country,” an agency official in charge of public relations on behalf of th
TechnologyDec. 17, 2017
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Samsung’s new chip leader likely to put SoC, foundry businesses first
Kim Ki-nam, chief executive officer of Samsung Electronics’ devices solutions business, is expected to discuss measures to find new profit sources, pivoting on non-memory and foundry businesses, for the company’s most lucrative unit at an upcoming strategy meeting, according to the industry on Sunday. Kim is scheduled to hold the “Global Strategy Meeting” on Tuesday, a twice-yearly meeting held in June and December at the company to set new strategies and plans for the upcoming year. Kim was app
IndustryDec. 17, 2017
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China approves construction of 3 Korea-China industrial parks
BEIJING -- China has approved the construction of three industrial parks to be jointly operated by South Korean and Chinese firms, its website said Sunday, amid growing signs of improvement in bilateral relations.In a circular released by the Chinese State Council on Friday, the government gave the green light to the separate projects to build industrial parks in three cities -- Yancheong in Jiangsu Province, Yantai in Shandong Province and Huizhou in Guangdong Province.The construction projects
IndustryDec. 17, 2017
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Sales of Hyundai-Kia in China drop 30% on-year in Nov.
Hyundai Motor Group's sales in China fell nearly 30 percent in November from a year earlier due to the fallout from political tensions over the deployment of a US missile defense system in South Korea, the company said Sunday. Hyundai Motor Co. and its affiliate Kia Motors Corp., which together form the world's fifth-biggest carmaker by sales, said they sold a combined 145,015 vehicles in China last month, down 29.8 percent from a year earlier.Their sales in the first 11 months dropped 38.2 perc
MobilityDec. 17, 2017
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Moon’s visit boosts Hyundai’s China operations
Praising Beijing Hyundai Motor as an example of growth and symbolic of economic cooperation between South Korea and China, President Moon Jae-in pledged support to remove any barriers to the operation of the joint venture during his visit to a plant in Chongqing, southwest China, Saturday.Moon’s visit to the Hyundai plant came in light of slowly recovering sentiment toward South Korean businesses in China, following hostilities over diplomatic tensions regarding the deployment of the US’ Termina
MobilityDec. 17, 2017
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[Health-tech Korea] Anesthesia made easier, quicker with rapid-cooling technology
The Korea Herald is publishing a series of articles highlighting South Korea’s promising startups in the emerging sectors of digital health care and next-generation medical devices. This is the 15th installment. - Ed.ULSAN — Putting a needle through any part of the body is an unwelcoming experience. And the thought alone of injecting a sharp needle into an eyeball would make most people squirm. However, this is how doctors typically deliver anesthetic medicine into the eye before an intravitrea
TechnologyDec. 17, 2017
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[Herald Interview] Alice Martha pursues new markets with no-frills fast fashion
The Korea Herald is publishing a series of interviews with the CEOs of small but aspiring brands that are taking Korean fashion and beauty overseas through online shopping malls. This is the third installment. -- Ed.Kwak Chang-hun is a force of energy, the type of man that seems to speak with his whole body.“You want an Americano? Let me make you an Americano. I just bought this machine,” he said as he bustled towards an espresso machine sitting behind the counter at bag brand Alice Martha‘s off
IndustryDec. 17, 2017
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Commercial banks to raise floating mortgage rates this week
South Korea's commercial banks are set to raise floating rates for mortgage loans this week in line with a benchmark money market rate hike, industry officials said Sunday.The top five banks -- KB Kookmin, Shinhan, Woori, KEB Hana and NH Nonghyup -- will reflect a rise in the Cost of Funds Index, a benchmark for variable-rate mortgages, starting from Monday.The COFIX, which is decided by the Korea Federation of Banks, has increased for three consecutive months since September on expectations of
MarketDec. 17, 2017
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Data show rising number of borrowers with excessive debt
A growing number of South Koreans were holding excessive amounts of loans compared with their income levels, raising concerns over their debt service capability, central bank data showed Sunday. One out of 10 borrowers held loans of more than their five-year income at the end of September, which means their loan-to-income ratio exceeded 500 percent, according to the data compiled by the Bank of Korea. The LTI ratio refers to the portion of outstanding loans to annual income. An increase in the r
EconomyDec. 17, 2017
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Seoul shares may test 2,520 next week on eased uncertainties
outh Korean shares could rise next week on eased market uncertainties, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) is expected to test 2,520 next week. The main index rose 0.73 percent for the whole of this week. The U.S. Federal Reserve marked up its key rates for the third time this year to 1.5 percent on Wednesday, although, having been expected, the move had little impact on the overall market.Political tensions between Seoul and Beijing over a U.S. mi
EconomyDec. 16, 2017
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Moody's upgrades outlook for S. Korean banking system
Moody's Investors Service has upgraded the South Korean banking system's outlook to "stable" from "negative," citing stronger economic growth and stabilizing asset quality in Asia's fourth-largest economy."The outlook change reflects our assessment that the overall creditworthiness of Korean banks will be stable over the next 12-18 months," the global ratings agency said in a report released on Friday. "Stronger economic growth in Korea has resulted in an impro
EconomyDec. 16, 2017
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[Herald Interview] Education key to dealing with bitcoin craze
Following phenomenal bitcoin demand by retail investors in South Korea in the past few weeks, local cryptocurrency exchanges might represent the nation’s potential to take the lead in blockchain technology. But the bitcoin craze does not necessarily mean investors understand the way blockchain works, or that they can even tell the difference between cryptocurrency and blockchain, since they are more interested in high returns than the underlying technology. Cryptocurrencies are digital cur
MarketDec. 15, 2017
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[Weekender] How do skyscrapers work?
Skyscrapers are not just buildings that are tall, but are the outcome of a complex combination of evolving technologies. From highly sophisticated engineering techniques to futuristic elements, today’s skyscrapers have absorbed the latest technology to realize a luxurious human dream.The challenge when building a skyscraper is how to overcome the forces of nature -- wind, heat from above and below and natural disasters that can happen without warning.The key to overcoming these challenges is in
IndustryDec. 15, 2017
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KCS official blamed for leak of gov't measures against cryptocurrency speculation
A Korea Customs Service official was found to have leaked a government press release announcing a package of measures aimed at curbing cryptocurrency speculation earlier this week, officials said Friday.The government launched an investigation after a draft of the press release was leaked online hours before the official announcement of regulatory measures Wednesday. The leak is believed to have impacted cryptocurrency trading. According to the Office for Government Policy Coordination, the draf
MarketDec. 15, 2017
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[Weekender] Skyscrapers altering skyline of Korea
With an unprecedented boom in construction of skyscrapers in South Korea, today’s tallest building in the country can never sit comfortably as candidates queue up to replace it. The 305-meter, 68-story Posco Tower-Songdo was opened in 2011 in Songdo International City, as the world’ most expensive private real estate project. Located in the Incheon Free Economic Zone, the skyscraper was the nation’s tallest building, flaunting its imposing height. With an investment of 516 billion won ($413 mill
IndustryDec. 15, 2017
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Google suspected of underreporting income in Korea
Google Korea reported less than 20 percent of its actual sales generated in Korea, according to local media reports Friday, prompting calls for the US search giant to properly disclose its sales and pay taxes here. According to local broadcaster SBS, the Korean arm of Google reported sales of 267.1 billion won ($245 million) to tax authorities last year, much less than its estimated sales of 1.8 trillion won calculated by app analysis firm IGAWorks. Such a low sales figure may be reported becaus
IndustryDec. 15, 2017
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Cryptocurrency exchanges seek to improve market transparency
South Korea‘s cryptocurrency exchanges said Friday they will adopt self-regulatory measures to boost transparency in the highly speculative market.The Korea Blockchain Association, consisting of 14 virtual currency exchanges here, announced plans to raise the market entry barrier for operators as part of ongoing efforts to protect investors in the fluctuating market. Starting in January, the exchanges will bear responsibility to force traders to store at least 70 percent of cryptocurrency
MarketDec. 15, 2017
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Weakest gold in year ‘not relevant’ to bitcoin surge: analyst
South Korean gold prices are at their lowest in almost a year while bitcoin prices rise exponentially, but a Korean analyst on Friday rebutted claims that gold’s decline was down to the bitcoin craze.Gold was trading at 44,180 won ($40.60) per gram 10 minutes ahead of closing at 44,200 won Friday, according to an estimate by the Korea Exchange. On Wednesday, the price dipped below 44,000 won for the first time since Dec. 23, 2016. By contrast, bitcoin has skyrocketed past 20 million won, w
MarketDec. 15, 2017