Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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BMW’s ‘ultimate driving center’ in Korea
BMW Group’s first driving center in Asia is expected to house not only a series of driving tracks and training service centers, but also an eco-friendly sports park as well as family-friendly and children-oriented cultural arenas, according to BMW Group Korea. Scheduled to open in Incheon by mid-2014, the new driving center will take up space equal to 33 soccer fields.The leading German carmaker’s gigantic multipurpose driving center in Korea will be one of only three in the world ― the other tw
MobilityJune 28, 2013
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Eximbank inks loan deal with Chinese counterpart
The Export-Import Bank of Korea said Friday it has clinched a loan deal with its Chinese counterpart to provide Korean firms with loans and guarantees for their overseas projects.Under the agreement, Eximbank Korea will extend a loan to a domestic company doing business in another country, with the Export-Import Bank of China giving a guarantee on the company’s equipment if it is made in China to be used in the overseas project, the Seoul-based policy lender said in a statement.The joint loan an
June 28, 2013
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Money lenders to scrap joint surety from July
Big money lenders are scrapping a joint liability system from next month, financial sources said Friday, to fall in line with the regulator’s efforts to reform the outdated lending practice and prevent a chain of defaults.Five major money lenders, including A&P Financial Co. which owns top player Rush N Cash, have decided to abolish the joint surety system on fresh loans from July 1, according to the companies and the Financial Services Commission, the financial watchdog.A joint surety states th
June 28, 2013
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Korea to increase rewards for tax evasion tipoffs
The government plans to increase the cash rewards given to people reporting tax evasion or providing related information to authorities, the Finance Ministry said Friday.According to the ministry, the government will sharply increase the amount given to those tipping off authorities about tax evasions starting from July. In some cases, the amount will triple.Under the revised rules, those who report evasion worth 500 million won ($437,445) to authorities can receive 75 million won as a cash rewa
June 28, 2013
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Industrial output shrinks 0.4% in May
South Korea’s industrial output shrank in May from a month earlier amid heightened global economic uncertainty, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries shrank 0.4 percent last month from a month earlier. From a year earlier, it also fell 1.4 percent.The drop came a month after the output turned around from four previous months of contractions. The output in the service sector still edge
June 28, 2013
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Korea, China to cooperate on 5G
The Science Ministry said Friday that IT sector policymakers from South Korea and China have signed a pact to foster closer cooperation on high-end mobile technologies. In China on Thursday, Vice Science Minister Yoon Jong-rok and a group of industry leaders from SK Telecom, Samsung Electronics and LG Electronics signed a memorandum of understanding with the Asian superpower’s 5G promotion group to better coordinate in developing 5G network technologies.The Chinese representatives included membe
TechnologyJune 28, 2013
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Irregularities plague brokerages, insurers
The number of irregular business practices in the securities and insurance sectors, has surged this year, financial regulators revealed on Friday.According to the Financial Supervisory Service, 29 securities firms’ headquarters or branches were sanctioned in the first half of the year for breaching regulatory rules.They included Samsung Securities, Woori Investment & Securities, Kyobo Securities, Daishin Securities, SK Securities, Hana Daetoo Securities and NongHyup Securities.The FSS also repri
June 28, 2013
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Firms expand China investment
The nation’s top business groups, including Samsung, Hyundai Motor, SK and LG, are expected to unveil a new investment plan during the state visit of President Park Geun-hye to China in a bid to woo the world’s largest market and for business expansion, industry sources said. On Friday, SK Group, the nation’s third-largest conglomerate, announced a joint-venture between its chemical subsidiary SK Global Chemical and China Petrochemical Corp., or Sinopec, China’s state-run and largest oil company
IndustryJune 28, 2013
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Korea to bolster global cooperation in forestation
Korea’s top forestry policymaker said the nation would expand its partnership to Latin America, China and Mongolia to help prevent forest degradation and desertification. Speaking in an interview with The Korea Herald this week, Shin Won-sop, minister of the Korea Forest Service, vowed to strengthen the nation’s status with its know-how for forestation. He also urged people to pay more attention to global efforts to fight desertification, saying Koreans were insensitive on that issue because the
June 28, 2013
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UNCCD expert meeting calls for targets on land to stimulate action
Land and soil experts from around the world Thursday called on the international community to set national, regional and international targets to address desertification, land degradation and drought at all levels. The call was issued following a consultative meeting held on June 26-27 in Seoul, Republic of Korea.At the two-day event hosted by the government of the Republic of Korea and facilitated by the Secretariat of the U.N. Convention to Combat Desertification, or UNCCD, government represen
June 28, 2013
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‘Cooperation essential in anti-desertification efforts’
The Consultative Meeting of Experts on a Sustainable Development Goal on Land Degradation Neutral World was held in Seoul this week, organized by the United Nations Convention to Combat Desertification and the Korea Forest Service.Two days of marathon discussions on desertification and land degradation produced several positive results, said Jia Xiaoxia, the chairwoman of the conference.“The UNCCD’s annual conferences bring such an incredible mix of people together, each bringing his or her own
June 28, 2013
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UNCCD chief calls for more action against desertification
The head of the world’s only legally binding convention fighting desertification urged Koreans to join the international movement to stop land degradation and revive the land for human survival. “Enhance soil and enhance human life. Korean people should also participate in efforts to stem desertification of land,” said Luc Gnacadja, executive secretary of the United Nations Convention to Combat Desertification. “This desertification issue will affect every citizen of the world, whether you are a
June 28, 2013
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NASA launches sun-watching satellite from U.S.
NASA launched a satellite late Thursday on a mission to explore a little-studied region of the sun and to better forecast space weather that can disrupt communications systems on Earth.Unlike a traditional liftoff, the Iris satellite rode into Earth orbit on a Pegasus rocket dropped from an airplane that took off around sunset from the Vandenberg Air Force Base on California's central coast. About 100 miles (160 kilometers) off the coast and at an altitude of 39,000 feet, the airplane released t
TechnologyJune 28, 2013
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Seoul shares gain 1.56 pct on abated U.S., China woes
South Korean stocks added 1.56 percent Friday as investors' sentiment was boosted by eased concerns over the United States policy moves and the Chinese economy, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 28.62 points to close at 1,863.32. Trading volume was low at 246 million shares worth 4.34 trillion won (US$3.8 billion) with gainers outpacing losers 631 to 197.Analysts said investors' sentiment got a boost as
June 28, 2013
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Seoul shares open higher on U.S. gain
South Korean stocks opened higher Friday tracking overnight gains on Wall Street sparked by improved U.S. economic data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 14.44 points, or 0.79 percent, to 1,849.14 in the first 15 minutes of trading.Shares gathered ground across the board, with top steelmaker POSCO adding 0.68 percent and No. 1 carmaker Hyundai Motor climbing 2.29 percent. Leading chipmaker SK hyix gained 0.33 percent.U.S. stocks closed higher Thursday
June 28, 2013
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S. Korea's industrial output shrinks 0.4 % in May
South Korea's industrial output shrank in May from a month earlier amid heightened global economic uncertainty, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries shrank 0.4 percent last month from a month earlier. From a year earlier, it also fell 1.4 percent. The drop came a month after the output turned around from four previous months of contractions. The output in the service sector still edg
June 28, 2013
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[Graphic News] 1 in 4 Seoul citizens obese
Nearly 25 percent of adult citizens in Seoul were found to be obese in 2012, with the proportion on the rise for the fourth consecutive year, according to a survey of 23,165 citizens aged 19 or older. Korea considers people obese when their body mass index measurement exceeds 25 and with extreme obese when their BMI exceeds 30.
TechnologyJune 27, 2013
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Rising Sun flag in game angers Koreans
A Belarusian online game company has stirred up a heated controversy in South Korea due to its upcoming title incorporating the Rising Sun flag of Imperial Japan.Enraged by the game’s adoption of the flag, a group of Korean gamers plan to launch a campaign to collect signatures from some 40,000 users to protest against the game developer.Belarus-based Wargaming.net is developing the game titled “World of Warships,” one of the massively multiplayer online game series including “World of Tanks” an
TechnologyJune 27, 2013
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Brucellosis
Brucellosis is a highly infectious bacterial disease that can transfer from species to species and occurs across the world. It is most common along the Mediterranean Coast, Middle East, India and in central South America, but since the first reported cases of brucellosis in Paju, Gyeonggi Province, in July 2002, the incidence has increased. The Infectious Diseases Prevention Act has named brucellosis a class 3 reportable disease, and bovine (cow) brucellosis is controlled as a class 2 infectious
TechnologyJune 27, 2013
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Sunlight leads to better sleep
Sleep disorders have become a major health concern, as stress, irregular lifestyles and electronic gadgets hamper more Koreans from getting enough shut-eye. According to the Health Insurance Review and Assessment Service, the number of patients with sleep disorders surged 60 percent from 384,910 in 2008 to 616,619 last year.The number of insomniacs increased across all age groups, except for those aged 19 and under, it added. Sleep disorders include insomnia, sleep apnea, sleep deprivation and e
TechnologyJune 27, 2013