Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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[Photo News] Seoul seeks 'best sleeper'
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[KH Explains] Why Korea's so tough on short selling
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US expert says N. Korea might ignore Trump if he returns to White House
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S. Korean banks' exposure to Greece not large: watchdog
South Korean banks' exposure to cash-strapped Greece is not so large, the financial watchdog said Tuesday, raising expectations that a default by the struggling European country would have a limited impact on them. Local banks and non-bank institutions' exposure to Greece stood at $1.18 billion as of end-March, accounting for 1.3 percent of the country's total overseas lending, according to the Financial Supervisory Service. The watchdog said the exposure is loans to Greek shipping firms throu
June 30, 2015
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Industrial output dips for 3rd month in May
South Korea's industrial output fell for the third straight month in May as the sluggish pace of global recovery hurt its outbound shipments and affected production of cars and semiconductors, a government report showed Tuesday. According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries was down 1.3 percent last month compared with April. The drop comes after numbers fell 0.2 percent and 1.3 percent in March and April, respectively, the
IndustryJune 30, 2015
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S. Korean manufacturers' July sentiment dips to near 3-year low
South Korean manufacturers' business confidence for July plunged to the lowest level in almost three years, a poll showed Tuesday, as the outbreak of MERS in Asia's fourth-largest economy is feared to further worsen already feeble domestic demand. The business sentiment index, which measures the outlook of manufacturers on their business conditions for the coming month, reached 67 for July, down from a forecast of 76 for June, according to the Bank of Korea. It marks the lowest level since 67 i
IndustryJune 30, 2015
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Lone Star case calls for look back on Seoul's legal, financial efficacy
One of the most controversial and scrutinized corporate deals in the recent history of South Korea is heading into overtime, inspiring the need to look back on the capability of financial and judiciary officials here. The second round of hearing for a multi-billion-dollar case between the U.S. private equity firm Lone Star and the South Korean government began in Washington, D.C. on Monday. The $5 billion suit is an epilogue to a decade-long legal dispute that has raised concerns about the i
IndustryJune 30, 2015
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Hana, KEB to offer gold rings to Aug. 15 babies
Celebrating the 70th anniversary of National Liberation Day, Hana Bank and Korea Exchange Bank will present solid gold birthday rings to babies whose first birthday is on Aug. 15.Parents with babies born on Aug. 15 last year may enjoy the benefit by joining the “Daehan Minguk Manse” deposit and savings plan in the name of their baby, officials said.The financial product, named after the three models of the Hana Financial Group, has been launched to pay respect to the nation’s liberation from col
June 30, 2015
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EBay to support smaller firms
EBay Korea, the operator of Korea’s largest online shopping site Gmarket and Auction.co.kr, signed a deal with the Small & Medium Business Corporation to support domestic small and medium-sized company’s online cross-border trade last week. The pact will help vendors receive eBay For Business, a seven-month training and education program on cross-border commerce and marketing via the eBay platform. Launched in May, the program covers the areas of product sourcing, registration, logistics, delive
IndustryJune 29, 2015
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Tougher monitoring of unfair practices in capital markets
This is the third in a monthly series contributed by executive members of the Financial Supervisory Service to address key ongoing financial issues. ― Ed.The weather forecasts recently said that Korea would suffer from a severe drought this summer, with a heat wave hitting the country earlier than usual. In July when the summer heat wave gets into full swing, the regulatory system to prevent unfair practices in Korean capital markets is set to undergo a paradigm shift. Lee Dong-yeopA new regulat
June 29, 2015
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[Photo News] Bring cinema experience home
BRING CINEMA EXPERIENCE HOME — South Korea’s leading mobile carrier SK Telecom rolls out a new pico projector, UO Smart Beam 2 on Monday. The portable device featuring 80 lumens of brightness can display an image size of up to 110 inches from a distance of 3 meters. SKTBRING CINEMA EXPERIENCE HOME — South Korea’s leading mobile carrier SK Telecom rolls out a new pico projector, UO Smart Beam 2 on Monday. The portable device featuring 80 lumens of brightness can display an image size of up to 110
TechnologyJune 29, 2015
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[Photo News] Watch video content on single platform
WATCH VIDEO CONTENT ON SINGLE PLATFORM -- LG Uplus chief executive Lee Sang-chul (right) and singer BoA pose at a launch ceremony of the mobile carrier’s mobile video portal service running on the Long Term Evolution networks. LG Uplus subscribers can watch live TV shows, movies, videos on demand and user-created content on their smartphones via the portal. LG Uplus
TechnologyJune 29, 2015
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Members sign up to China-led bank
Countries from five continents formally signed up Monday to the China-led Asian Infrastructure Investment Bank -- a potential rival to the Washington-based World Bank and the Asian Development Bank.A total of 57 countries, including South Korea, have joined the AIIB to be operational by the end of this year with a paid-in capital of $20 billion and total authorized capital of $100 billion.South Korea will contribute $750 million of paid-in capital over the next five years.Korea’s chief delegate
June 29, 2015
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Desperation, anger in Greek bailout protests
ATHENS -- While financial leaders of the eurozone sought to agree to terms with Greece on another bailout program, people were torn over Prime Minister Alexis Tsipras, who they elected to oppose the creditors’ demands. Greece risks default if a bailout is not secured, but, unwilling to agree to creditors’ demands, Tsipras announced that the bailout offer would be put to a referendum. On the streets of the country’s capital, the pressure to refuse the terms was high. On Thursday evening, the tr
June 29, 2015
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EBay to support smaller firms
EBay Korea’s star sellers pose for an award ceremony. (eBay Korea) EBay Korea, the operator of Korea’s largest online shopping site Gmarket and Auction.co.kr, signed a deal with the Small & Medium Business Corporation to support domestic small and medium-sized company’s online cross-border trade last week. The pact will help vendors receive eBay For Business, a seven-month training and education program on cross-border commerce and marketing via the eBay platform. Launched in May, the program c
IndustryJune 29, 2015
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Shareholders OK Techwin name change amid protest
Shareholders of defense equipment maker Samsung Techwin approved a plan to change its name to Hanwha Techwin amid strong opposition from its labor union members on Monday.Samsung Techwin’s labor union members protest against its plan to change the name to Hanwha Techwin on Monday. YonhapThe meeting had planned to open early in the morning, but was delayed for hours due to physical protests from the union members, who opposed Hanwha‘s takeover of the company.More than 140 union supporters were ta
IndustryJune 29, 2015
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KITA promotes 'seamless e-business'
Korea International Trade Association’s e-Biz Support Center has built up a reputation of being a “seamless e-Business” booster across Asia. Starting with signing a pact with the Department of International Trade Promotion of Thailand’s Ministry of Commerce for sales of the website- and marketing-design models to the Southeast Asian country, KITA is now spreading the service to Vietnam and Indonesia as well as South American states such as Peru. “KITA has been the only institution in Korea that
IndustryJune 29, 2015
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Stocks, currency lose on Greek woes
South Korean stocks and currency fell sharply Monday in the wake of mounting concern over Greece’s state default.Though the nation’s financial policymakers tried to ease volatile investor sentiment earlier in the day, foreigners dumped local equities on the main bourse Korea Exchange.The benchmark KOSPI dropped 29.77 points, or 1.42 percent, from a trading session earlier to close at 2,060.49. The secondary KOSDAQ fell by 2.33 percent to close at 733.04.Foreign investors net-sold stocks, listed
June 29, 2015
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LG G4 takes on rivals with advanced camera technology
Boasting advanced camera technologies, LG Electronics’ G4 smartphone has been garnering positive market responses since its launch in April in South Korea. One of those head-turning camera technologies is the F1.8 aperture lens, which the company says enables users to catch memorable moments in low light conditions.LG Electronics‘ G4 smartphone. (LGE) The lower aperture level means that the camera allows more light through and that users can snap photos in lower levels of light. Theoretically,
TechnologyJune 29, 2015
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Seoul shares dip 1.4 percent, won hits 3-month low on worsening Greek woes
South Korean stocks sank by the most in one month Monday, with the local currency hitting the lowest against the U.S. dollar in three months, as investors were unnerved by debt-mired Greece nearing a sovereign default, analysts said. Greece is set to default on 1.6 billion euros ($1.76 billion) of loans if it doesn't make repayments to the International Monetary Fund by the Tuesday deadline (Greek time). The European Central Bank refused to extend support to Greek banks after bailout talks bet
June 29, 2015
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Samsung's first Tizen smartphone sells 1 million units
South Korea's top tech giant Samsung Electronics Co. said Monday it has sold 1 million units of its Tizen-powered smartphones, casting a brighter outlook over the non-Android operating system. Samsung's Indian subsidiary said the sales of the Z1, which hit shelves in India, Bangladesh and Sri Lanka in January this year, has reached 1 million units as of Wednesday. Tizen is an open-source operating system for smart devices being promoted by Samsung, Intel, Huawei and other global tech players.
TechnologyJune 29, 2015
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[Graphic News] Average age of major companies stands at 28.3
The average age of the nation‘s major companies was 28.3 years old, data showed Monday.The Korea CXO Institute examined the top 2,000 listed and nonlisted companies and found their average ages by industry, excluding those from the financial sector.The textile industry had the highest average age at 51.5 years old. The textile industry includes a number of textile companies that are over 60 years old.The average ages of the food and drink manufacturing industry and the construction industry were
IndustryJune 29, 2015
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Hana, KEB to offer gold rings to Aug. 15 babies
Celebrating the 70th anniversary of National Liberation Day, Hana Bank and Korea Exchange Bank will present solid gold birthday rings to babies whose first birthday is on Aug. 15.Parents with babies born on Aug. 15 last year may enjoy the benefit by joining the “Daehan Minguk Manse” deposit and savings plan in the name of their baby, officials said.The financial product, named after the three models of the Hana Financial Group, has been launched to pay respect to the nation’s liberation from col
June 29, 2015