Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Seoul Metro to seek legal action against malicious complaints
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Golden chance to liquidate babies’ gold rings?
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Mexico plans to extract 13,000-year-old skeleton
MEXICO CITY (AP) ― Mexican experts plan to extract the entire skeleton of a teenage girl who nearly 13,000 years ago toppled into a deep hole in a Mexican cave and died, an official said.Archaeologist Pilar Luna said that so far only a molar and a fragment of a rib have been removed from the underground cave where the remains were found in 2007.Once recovered, the remains will be studied and then displayed, probably in Quintana Roo state where the teenage girl was found, said Luna, deputy direct
TechnologyMay 21, 2014
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[Graphic News] Korea’s share of global trade falls
In 2013, South Korea’s market share of global trade fell for the first time since the 1998 financial crisis, according to data from the Bank of Korea and the Korea International Trade Association on Tuesday.Among the World Trade Organization members, the country took ninth place, falling one notch from 2012, the figures showed. Topping the list was China, followed by the U.S., Germany, Japan, France, the Netherlands, the U.K. and Hong Kong. In 1998, South Korea fell to 14th place from 12th place
May 20, 2014
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KT launches ‘autobahn’ service
Beset by a series of scandals and losses, South Korea’s biggest telecom company KT Corp. is aiming to extricate itself from the doldrums by the latter half of this year by providing the fastest network service available.Introducing its “GiGA” service, which converges the technologies of Wi-Fi, Long Term Evolution and copper wires, KT aims to change the market, in which telecom companies are heavily focused on attracting consumers through irregular pricing strategies.KT CEO Hwang Chang-gyu, a for
TechnologyMay 20, 2014
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Porsche Macan aims for big performance in Korea
Porsche Korea unveiled the Macan compact SUV on Tuesday in Seoul, aiming to accelerate expansion beyond its traditional niche and lure first-time customers seeking a more practical Porsche. “I wouldn’t call the Macan a baby Cayenne. It’s more like a big 911,” said Kim Geun-tak, managing director of Porsche Korea, at the car’s launch in Seoul.The Macan, its name coming from the Indonesian word for tiger, is the second SUV model by the German sports car maker. With the first Cayenne now its best-s
IndustryMay 20, 2014
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Asia’s casino heaven looks beyond gambling
MACAU, China ― Macau, one of China’s special administrative regions along with Hong Kong, is undoubtedly enjoying its heyday as the world’s most profitable casino district.But reflecting the awareness that the gaming business alone, as prosperous as it is, can no longer be counted on as the sole pillar for profit, market leaders are pressing to diversify business and lure new customers.The issue will be discussed at the Global Gaming Expo Asia, referred to as G2E Asia, which kicked off Tuesday a
May 20, 2014
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Seoul shares close lower ahead of FOMC minutes release
South Korean stocks closed lower Tuesday as investors sat on the sidelines ahead of the release of the U.S. central bank’s minutes for April, analysts said. The South Korean won ended down against the greenback. The benchmark Korea Composite Stock Price Index lost 3.88 points, or 0.19 percent, to 2,011.26. Trading volume was low at 240 million shares worth 3.66 trillion won ($3.57 billion), with losers outpacing gainers 478 to 320.Analysts said Seoul shares closed lower mainly as investors took
May 20, 2014
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Banks to provide loans for Sewol victims
Leading domestic banks said Tuesday they would provide financial services to help the victims of the deadly sinking of the Sewol ferry on April 16.A number of local banks, including KB Kookmin Bank, Woori Bank, Hana Bank and Korea Exchange Bank, pledged to support the victims’ families and survivors with emergency funding.Support measures include offering up to 20 million won ($19,600) in loans without collateral and also extending the maturity of existing loans made to them, the banks said.The
May 20, 2014
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Korea, Vietnam hold free trade negotiations
South Korea and Vietnam opened a fresh round of negotiations Tuesday for a bilateral free trade agreement as the countries seek to conclude their negotiations before the end of the year.The fifth round of FTA negotiations will be held in Seoul until Friday, according to the Ministry of Trade, Industry and Energy.“At the fifth round of negotiations, the two countries will hold in-depth discussions in each area, including products, service, investment, country of origin, customs and cooperation,”
May 20, 2014
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Korea’s fiscal deficit widens in Q1 on budget frontloading
South Korea’s fiscal deficit widened during the first quarter from a year earlier as the government frontloaded its spending to help boost the economic recovery, the Finance Ministry said Tuesday.The consolidated fiscal account, which reflects the central government’s total income and expenditures, including social security funds, came to a cumulative 17.5 trillion won ($17.1 billion) during the January-March period, compared with 14.8 trillion won a year earlier, according to the ministry.“Expe
May 20, 2014
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GS E&C consortium wins $1.44b UAE crude oil processing plant deal
GS E&C, one of South Korea’s leading builders, said Tuesday it won a $1.44 billion crude oil processing plant deal in the United Arab Emirates by forming a consortium with a local partner.The company said the third phase of the Rumaitha-Shanayel oil field expansion project calls for GS to build most of the facilities related to crude oil processing, with its partner Dodsal to take charge of designing and constructing the crude oil and gas pipelines and support facilities.The South Korean builder
IndustryMay 20, 2014
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[Herald Interview] Legendary notebook brand thrives in digital era
Moleskine, the Milan-based legendary notebook maker with a more than 200-year history, is sailing through the digital era, evolving into a “platform for creativity.”Under the new brand vision, Moleskine has stopped limiting itself to paper-based black notebooks. “The brand today creates platforms and containers for imagination either online or offline,” Arrigo Berni, CEO of Moleskine, said in a recent email interview with The Korea Herald.So it made sense for him to start seeking opportunities i
BusinessMay 20, 2014
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Samsung C&T gains recognition as sustainable builder
Samsung C&T, the construction and trading arm of Samsung Group, has been receiving fresh attention for pulling itself out of the rut that the construction sector has been in and reestablishing itself as one of the most powerful and sustainable builders worldwide. And the numbers are there to prove it.In the first quarter of 2014, Samsung C&T earned roughly 3.36 trillion won ($3.29 billion) in sales and raised about 110.3 billion won in business profits for its construction sector ― an increase o
BusinessMay 20, 2014
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Best Auto releases auto-flushing toilet seat
Best Auto has released the “Best Seat,” which flaunts an auto-flush function that could dramatically cut electricity use. The company said the product weighs the human body and senses absence of human touch on the seats instantly without using electricity. When one gets off the seat, it flushes automatically without the user having to use a button or lever. The product also consumes up to 50 percent less water than others, the company said. The Best Seat won the Eco Design Award from the Korea E
BusinessMay 20, 2014
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Pfizer releases calcium supplement pills
Pfizer Korea has released a calcium supplement with copper, iron, manganese and magnesium.According to the drugmaker, one pill of Caltrate Plus D500 contains 600 milligrams of calcium, 500 IU of vitamin D and four kinds of minerals that strengthen the bones and help collagen formation, which could eventually reduce the risk of injury from a fall. Pfizer recommended that adults take one or two pills a day. (baejisook@heraldcorp.com)
BusinessMay 20, 2014
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MCM opens flagship store in Ginza
Fashion brand MCM has opened a flagship store in Ginza, an affluent district of Tokyo. The 300-square-meter store will feature quintessential MCM products including the Heritage and Gold lines, as well as limited-edition products tailored to Japanese customers. The store also features a VIP room with agents from the Bespokes accessory line providing special services. An exclusive entrance has been set up for pet owners to visit the store with their pets to avoid bothering other customers.“It is
BusinessMay 20, 2014
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CJ opens Bibigo flagship restaurant
CJ Foodville has opened a Bibigo flagship store in Cheongdam-dong, southern Seoul, presenting high-end Korean food with a global twist. The fine-dining restaurant Bibigo Dadam will be led by celebrity chefs Kwon Woo-jung and Chung Jae-duk, who will present seasonal dishes with local ingredients. Chung, a Buddhist food specialist, will serve seasoned vegetables according to Buddhist recipes. Sommeliers will recommended alcohol pairings for all dishes. Bibigo Dadam will be the 11th Bibigo restaura
BusinessMay 20, 2014
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LG releases O Hui CC Cushion
LG Household and Care has released a limited edition of its O Hui Waterproof CC Cushion, which guarantees stronger UV protection (SPF 50+/PA+++) and skin coverage. According to the cosmetics maker, the CC cushion pact contains O Hui’s Cell Power Essence and stays on the skin for 25 hours after the initial application. It also improves wrinkle care and has a skin whitening effect, LG said. The 15-gram product is priced around 50,000 won. (baejisook@heraldcorp.com)
IndustryMay 20, 2014
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NASA: Russia alone can’t end space station work
The International Space Station (File photo)BERLIN (AP) ― Friction between the United States and Russia over Ukraine won’t spell the end of the International Space Station, the head of NASA said Monday, dismissing concerns that one of the world’s most prestigious scientific endeavors could fall victim to political disagreement.The comments by NASA Administrator Charles Bolden come a week after Russia warned that it could cease cooperating with the U.S. on the project after 2020. Although Japan,
TechnologyMay 20, 2014
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China winds could carry childhood disease to Japan
WASHINGTON (AFP) ― An airborne toxin that is blown into Japan from northeast China could be the cause of the mysterious Kawasaki disease, a childhood illness that mostly affects the very young, researchers said Monday.Kawasaki disease occurs worldwide but is most common in Japan and causes fever, rash, peeling fingernails and in about 25 percent of cases it can also lead to coronary aneurysm, a life-threatening ballooning of arteries that supply the heart.While its cause has eluded researchers e
TechnologyMay 20, 2014
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Samsung chief moved to general ward
Samsung Electronics Co. Chairman Lee Kun-hee, in hospital treatment following a heart attack last week, has been moved to a general ward on improved condition, company officials said Tuesday."All test results show he is stable as explained before," Samsung's communications team said. "As his conditions improved significantly, he was transferred to the general ward on Monday."Lee, 72, had been hospitalized at Samsung Medical Center (SMC)'s special ward since May 11 for myocardial infarction, comm
IndustryMay 20, 2014