Most Popular
-
1
[Grace Kao] American racism against Stray Kids
-
2
Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
-
3
Controversy brews over shakeup of prosecutors amid probe of first lady
-
4
Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
-
5
OpenAI gives ChatGPT new powers to see, hear
-
6
[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
-
7
Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
-
8
S. Korea to inject $70m into AI-powered public education
-
9
[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
-
10
[Graphic News] Only 34% of S. Korean elites favor nuclear arms
-
[Herald Interview] Olympus Capital seeks diversification
For an investor to distinguish itself in the highly competitive Asian market, the key task is to select an area of business that is neither too narrow, nor too vague.Based on this principle, Olympus Capital Holdings Asia, a private equity firm with a focus on investing in Asia, has decided to target three sectors: agribusiness, environment and clean energy, and financial and business services.“There is little doubt that Asia is one of the few places where one may expect sustainable growth,” Dani
Feb. 9, 2015
-
Household tax burden doubles income gains
The tax burden on average Korean households increased twice as fast as their income did in the first three quarters of last year, Statistics Korea said Monday.The statistics bureau said two-person households each earned an average of 4.3 million won a month between January and September 2014, up 3.6 percent from the same period a year ago.Meanwhile, those households each paid monthly taxes of about 154,276 won, up 5.9 percent from a year ago.Taxes included regular direct taxes such as income and
Feb. 9, 2015
-
New Hana Bank president vows to push Hana-KEB merger
Newly-elected president of Hana Bank, South Korea's fourth-largest lender, said Monday he will do his best to complete the stalled merger with the Korea Exchange Bank (KEB) as soon as possible.Kim Byoung-ho, 54, former vice president and acting president of Hana Bank, was named the new head at the bank's board and shareholders meetings. He will start his two-year term from Tuesday.He has been the acting president since November last year when his predecessor Kim Jong-jun stepped down."I will cre
Feb. 9, 2015
-
Seoul shares close lower on auto losses
South Korean stocks closed lower Monday as foreign investors continued their selling on mixed data from the world's two biggest economies, with auto shares suffering heavier losses, analysts said. The local currency fell to the dollar. The benchmark Korea Composite Stock Price Index lost 8.52 points, or 0.44 percent, to finish at 1,947.00. Trading volume was moderate at 302.4 million shares worth 4.26 trillion won($3.89 billion) with losers outpacing gainers 501 to 306. Analysts said foreigners
Feb. 9, 2015
-
Dessert cafe chain Sulbing expands into China
Dessert cafe franchise Sulbing said Monday it plans to open 150 branches in the world's second-largest economy by 2017, joining in a legion of South Korean food producers and confectioneries that have expanded abroad to secure new growth engines.Sulbing has signed a deal with China's Shanghai Yabin Food Stuff Trade Co. to open two branches in Shanghai by April and have 150 branches across the country by 2017, the company said in a press release. The move marks the company's first overseas expans
CompaniesFeb. 9, 2015
-
Chung family's stake sale in Hyundai Glovis 'credit positive': Moody's
The recent stake sale by Hyundai Motor Group Chairman Chung Mong-koo and his son in Hyundai Glovis Co. is "credit positive" as it reduces the risks from upcoming toughened government penalties on intra-group transactions, a main revenue source for the logistics unit, a global credit appraiser said Monday.On Friday, Hyundai Motor Group said that its chairman and his son, Eui-sun, sold about 5 million shares in Hyundai Glovis for an estimated 1.1 trillion won ($1 billion). The sale brought down th
CompaniesFeb. 9, 2015
-
SK hynix pushes next-generation mobile chip
South Korea's chip giant SK hynix Inc. said Monday it has started supplying its up-to-date memory chip for LG Electronics Inc.'s new flagship smartphone lineup, in its latest push to grab a bigger market share with the new mobile component as it vies against home rival Samsung Electronics Co. The low-power double data rate 4, an 8-gigabit dynamic random access memory mainly produced for mobile phones and digital cameras, has been installed in LG's G Flex 2, the curved-style handset that hit loca
CompaniesFeb. 9, 2015
-
Hyundai E&C inks $126 mln order from Saudi Arabia
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Monday it has won a $126 million project to lay power transmission lines in Saudi Arabia. Hyundai E&C will build 249 kilometers of a 380-kilovolt transmission line throughout the Saudi capital of Riyadh, the South Korean builder said. The deal was struck with the Saudi Electricity Company."The latest project comes as the company received recognition for excellent engineering skills and overall performance seen in other sim
CompaniesFeb. 9, 2015
-
Household tax burden outpaces income gains in 2014
The tax burden for ordinary households in South Korea outpaced income gains in the first three quarters of 2014 by nearly double, official data showed Monday.According to figures provided by Statistics Korea, average income for a two-person household stood at 4,314,334 won ($3,928.9) in the January-September period, up 3.6 percent from the year before. The monthly tax burden stood at 154,276 won, a 5.9 percent, or 8,606 won, increase from the year before. Taxes include both ordinary or fixed due
Feb. 9, 2015
-
S. Korea seeks to boost exports through e-trade
South Korea will work to nearly double its exports via electronic trading this year, a move that will include support for some 20,000 products, the government said Monday.The plan was unveiled at the first meeting of online exporters hosted by the Ministry of Trade, Industry and Energy."Exports through e-trade will likely provide a greater opportunity for small and medium-sized firms and one-man startup businesses rather than large companies," the ministry said in a press release.The country's o
Feb. 9, 2015
-
S. Korean builders see first overseas profit drop in 4 yrs: BOK
South Korean builders' earnings from overseas projects were down last year, central bank data showed Monday, the first time in four years that the companies have seen the figure drop amid adverse industry conditions worldwide. Last year's current account surplus in the country's construction sector stood at $17.1 billion, down 16.1 percent from the previous year, according to data compiled by the Bank of Korea. The tally marks the first fall in four years since the 17.7-percent drop in 2010. The
Feb. 9, 2015
-
Banks outdone by insurers in net profit
South Korean banks were most likely outdone by local insurers in terms of net profit last year for the first time in the country's financial history, industry data indicated Monday, with market watchers placing the blame on the lenders for the reversal.Eighteen local lenders, including No. 1 commercial bank Shinhan Bank and state-run Korea Development Bank, posted a combined 6.2 trillion won ($5.7 billion) in net income in 2014, according to the data.Net profit of 56 life and non-life insurers c
Feb. 9, 2015
-
Corporate taxes to shrink 15 pct, but biz community claims rates still too high
South Korea's tax earnings from the country's 30 largest conglomerates are expected to shrink 15 percent this year, economic sources said Monday, as the business community claims rates are already high for a trade-dependent nation.Official data by Financial Supervisory Service and corporate tracker Chaebul.com said the business groups are due to pay a little under 15.26 trillion won ($13.89 billion) in taxes for their earnings last year. This would be 2.78 trillion won, or 15.4 percent, less tha
Feb. 9, 2015
-
Money-in-waiting hits 17-month high
The amount of money deposited with South Korean brokerage houses hit the highest level in 17 months last week as investors wait on the sidelines for the right investment tool, data showed Monday.The deposits waiting for investment in stocks and other derivative products rose to 18.3 trillion won ($16.8 billion) as of Tuesday, surpassing 18 trillion for the first time since September 2013, according to the Korea Financial Investment Association. The daily deposit amount was 15.1 trillion won on a
Feb. 9, 2015
-
POSCO TJ Park Foundation to honor scholar
The POSCO TJ Park Foundation said Sunday that it has selected professor Park Bae-ho of Konkuk University’s Department of Physics for a coveted award. Park will receive the 2015 POSCO TJ Park Award next month. In addition, the Educational Award will be given to Handong Global University, and the Service Award to Cythina Maung and Indonesian NGO Bina Swadaya.The professor is renowned for his research in condensed matter physics and nano-materials. He was previously awarded the C. N. Yang Award by
IndustryFeb. 8, 2015
-
FSC loses face over KB, Hana feuds
The Financial Services Commission, the nation’s top regulator, appears to be losing face lately as its position on key financial issues are being repeatedly contradicted by legal authorities.It was especially blamed for breaking neutrality and interfering in the KB Financial Group’s internal leadership feud last year as also Hana Financial Group’s ongoing management-labor dispute over its merger with Korea Exchange Bank.FSC chairman Shin Je-yoon was grilled by opposition lawmakers during the par
Feb. 8, 2015
-
Hyundai i40 nears perfection
I must admit that Hyundai Motor’s new i40 diesel sedan is virtually impeccable, even for a petty-minded and cautious driver like me. From the smooth, sound driving features to the comfort of the back seat, the revamped version of the mid-weight sedan ticks every box on my watch list.Even Hyundai’s “aerodynamic family look” that makes all the automakers’ models look the same, with only differences in size and length, started to grow on me when I looked at and experienced this car from the inside.
MobilityFeb. 8, 2015
-
Korea denies talks with Uber over registration system
The South Korean government denied that it has been in talks with Uber Technologies to adopt a driver registration system, reiterating its opposition to the online ride-hailing tech firm’s “illegal” operations in the country. The Transport Ministry said last week that allowing local Uber drivers to become licensed could be a threat to existing taxi drivers and can excessively intensify competition in the oversaturated market. “Uber’s proposal contradicts the government’s policy that aims to redu
IndustryFeb. 8, 2015
-
Samsung plans round, more stylish smart watch
Samsung Electronics will add more style to its upcoming smart watch as the new device is rumored to have a round watch face abandoning the rectangular display panel used in its predecessors. According to industry sources on Sunday, the Korean tech giant aims to unveil the new circular smart watch, together with the new version of its flagship Galaxy smartphone, at the Mobile World Congress in Barcelona from March 2-5.“Samsung’s new smart watch will look more like a traditional wristwatch to appe
TechnologyFeb. 8, 2015
-
Seoul shares likely to move in tight range this week
South Korean stocks are expected to continue range-bound trading this week following last week’s flat market, as lack of momentum will persist with jitters over the Greek debt issue in the eurozone, analysts said. The benchmark Korea Composite Stock Price Index closed up 0.32 percent Friday at 1,955.52 from a week ago. The main index started off the week higher on the back of a foreign inflow on anticipation that the eurozone would salvage Greece from a potential default by injecting liquidity.
Feb. 8, 2015