Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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U.S. stocks rally after Fed vows to keep rate near zero for 2 years
WASHINGTON (AP) -- The Federal Reserve sketched a dim outlook for the U.S. economy Tuesday, suggesting it will remain weak for two more years. As a result, the Fed said it expects to keep its key interest rate near zero through mid-2013. Federal Reserve Chairman Ben Bernanke (AP-Yonhap News)It's the
Aug. 10, 2011
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Bargain hunting push up US stocks
NEW YORK (AP) -- Bargain hunters helped push the Dow back above 11,000 Tuesday.The Dow Jones industrial average rose 218 points, or 2 percent, to 11,028 in early afternoon trading. On Monday, the Dow had its worst day since 2008, plunging 634.76 points as fear coursed through global markets.``Stocks
Aug. 9, 2011
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US stock futures rise after big fall
NEW YORK (AP) -- U.S. stock futures rose Tuesday, but only after swinging wildly in overnight trading following the worst day for stocks since 2008.The Federal Reserve plans to meet Tuesday on interest-rate policy. The central bank already has kept its key interest rate at a record low of nearly zer
Aug. 9, 2011
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Asia to keep buying US debt despite downgrade
BEIJING (AP) -- China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poor's.Some governments such as Germany and Australia have stronger credit ratings than the United State
Aug. 9, 2011
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Seoul decides to ban short selling
The Financial Services Commission said Tuesday that it has decided to bar investors from short selling on the local stock market over the next three months.Amid the instability of the Korea Exchange in the wake of the European debt crisis, the regulator reinstated the ban for the first time in more
Aug. 9, 2011
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Officials strive to placate investors
Authorities say ready to supply liquidity if necessaryFinancial authorities have been striving to restore investor sentiment, downplaying concerns over fiscal woes in Europe and the United States.The Financial Services Commission and its executive body, the Financial Supervisory Service, held
Aug. 9, 2011
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Korea rattles from biggest 2-day drop since 2008
Market crashes while officials try to soothe investorsSeoul stocks continued to drop, hitting a 13-month low Tuesday as institutional investors shunned local shares on fears that Asia’s fourth-largest economy could be hit hard by the historic debt crises in the U.S. and Europe.The KOSPI dipped as lo
Aug. 9, 2011
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Market sees similarities, differences from 2008
As Seoul shares plummeted to a 13-month low and concerns about an economic crisis rose, some analysts said the market turmoil looked similar to the financial crisis of 2008.They said the start of the tumbling of shares was comparable to the global equity sell-off that occurred in 2008, which was spa
Aug. 9, 2011
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U.S. crisis may have little impact here: BOK
The historic downgrade of the U.S. credit rating late Friday and subsequent mass sell-off in equity markets around the world have threatened to hamper Korea’s economic growth, leaving few options for the central bank in its scheduled policy-setting meeting this week.Standard & Poor’s downgraded the
Aug. 9, 2011
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Bonds lure investors seeking safer assets
As the twin crises in the U.S. and Europe send global equity markets plunging, investors are seeking safer destinations, particularly bonds, in South Korea.The Bank of Korea said in a report on Tuesday that the yield on three-year Treasury bonds saw a drop of 30 basis points between Aug. 2-8 as inve
Aug. 9, 2011
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Bargain hunters prepare to pounce
Analysts cautiously say it may be good time to invest in Korean stocksThe Korean stock markets this week are the Asian crisis revisited, according to many investors on Tuesday who watched with despair as the main bourse tanked in just 48 hours. None of the nation’s brokerages correctly predicted suc
IndustryAug. 9, 2011
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Obama seeks to reassure faith in U.S. credit
WASHINGTON (AP) ― Eager to calm a nervous nation, President Barack Obama on Monday dismissed an unprecedented downgrade in the nation’s credit rating, insisting investors will stand by the United States even as stock markets plunged. Obama said Washington can fix its ills by showing more political w
IndustryAug. 9, 2011
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Amore Pacific’s overseas sales surge 16 percent
Amore Pacific Corp., the nation’s largest beauty company, said Monday that it has logged 1.3 trillion won ($1.2 billion) in sales in the first half of the year, a 16 percent increase from a year earlier. During the same period, operating profits amounted to 241.5 billion won, up 4 percent, while net
IndustryAug. 9, 2011
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Korea now No. 2 LED producer
Local firms’ bold investment in television production and upbeat global demand turned Korea into the world’s second-largest maker of light-emitting diodes last year, the government said Tuesday.Combined sales of Korean LED manufacturers more than doubled to 6.9 trillion won ($6.35 billion) last year
IndustryAug. 9, 2011
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Korea’s producer price growth hits 3-month record in July
South Korea’s producer prices grew at the fastest clip in three months in July due mainly to a hike in raw material prices and heavy rains, the central bank said Tuesday.The producer price index, a barometer of future consumer inflation, rose 6.5 percent in July from a year earlier, compared with a
Aug. 9, 2011
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Ministry’s point man on baby boomers stresses jobs for the old
There are 7.13 million Korean baby boomers who were born between 1955 and 1963, or 14 percent of the total population. They will face difficult financial and social situations after retirement and the government should meet their different demands, Lee Ki-young, director of policy planning for baby
IndustryAug. 9, 2011
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Coming wave of retirements may cause economic disaster for Korea
Experts call for measures to ensure more flexible labor markets, boost birthrateTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following
Aug. 9, 2011
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China inflation quickens to 6.5% in July
China’s inflation accelerated to the fastest pace in three years in July, limiting the scope for monetary easing as risks to the global economy mount. Consumer prices climbed 6.5 percent from a year earlier, the Beijing-based National Bureau of Statistics said on its website Tuesday. That was more t
IndustryAug. 9, 2011
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Former IP judge to head KIPI
Pyo Jae-ho, a former chief judge of the Korean Intellectual Property Tribunal, was appointed as the new head of the Korea Institute of Patent Information, KIPI said Tuesday. Pyo Jae-hoKIPI said its board of directors has recently elected Pyo, a patent veteran with more than 10 years of experie
IndustryAug. 9, 2011
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Samsung, Sony, Panasonic in 3D glasses deal
TOKYO (AFP) -- Japan's Sony and Panasonic and South Korea's Samsung Electronics said Tuesday they will jointly develop new standards for glasses used to watch 3D images on television, computer and movie screens.The three Asian consumer electronics giants, working with European technology firm X6D Li
TechnologyAug. 9, 2011