Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
[KH Explains] No more 'Michael' at Kakao Games
-
4
Rapper jailed after public street fight with another rapper
-
5
Woman gets suspended term for injuring boyfriend with knife
-
6
Samsung chief bolsters ties with Germany’s Zeiss
-
7
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
8
Med schools expect 1,500+ new admission slots next year
-
9
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
10
KT launches new mobile plans for foreign residents
-
Samsung's upcoming wireless earbuds to be cheaper than predecessor: report
Samsung Electronics Co.'s upcoming wireless earbuds are likely to be cheaper than its previous model, a report showed Monday, as the South Korean tech giant eyes to expand its presence in the premium segment of wearables. Samsung is expected to unveil its new wireless earbuds, the Galaxy Buds 2, at its online Unpacked event Wednesday, along with new foldable smartphones. Market researcher Counterpoint Research said the new hearables product is predicted to come out with a cheaper price tag comp
Aug. 9, 2021
-
S. Korea to maintain exports of pears to Australia despite fire blight outbreak
South Korea's agricultural ministry said Monday it has reached an agreement with Australia to maintain its exports of pears despite the outbreak of fire blight in the country. The country has been shipping pears produced in four designated regions under the condition that the country verifies that farms in the area are free of fire blight infections. The country reported a series of fire blight cases nationwide this year, including regions neighboring the designated farms. Fire blight is a co
Aug. 9, 2021
-
Game developer Krafton set to go public this week
Video game developer Krafton Inc. is slated to debut on the country's stock market this week, marking one of the largest initial public offering (IPO) events this year. The developer behind the global hit "PlayerUnknown's Battlegrounds" (PUBG) will go public on the main bourse Tuesday, with its offering price set at 498,000 won ($433.99). The firm is valued at 24.35 trillion won based on the offering price, set to become the No. 1 gaming stock here, dethroning the current top cap NCS
Aug. 9, 2021
-
Card spending rises 7% in July despite pandemic
SEJONG -- Payments made with cards in South Korea expanded 7 percent in July from a year earlier despite a resurgence of coronavirus infections, a report showed Monday. Spending made with credit, debit and prepaid cards issued by major card firm Shinhan Card Co. stood at 14.1 trillion won ($12.3 billion) in July, up from 13.1 trillion won a year earlier, according to the report from the office of Rep. Park Kwang-on of the ruling Democratic Party. It was up 11.4 percent from the same month in 2
Aug. 9, 2021
-
Seoul stocks open lower on US jobs data
South Korean stocks opened lower Monday as an estimate-beating improvement in US jobs data increased concerns about an early tapering. The benchmark Korea Composite Stock Price Index (Kospi) fell 15.98 points, or 0.49 percent, to 3,254.38 points in the first 15 minutes of trading. Investor sentiment weakened as US jobs data in July logged a steeper hike than the market consensus, fueling investor worries that the US Fed may pivot from its dovish stance and consider accelerating its timeline fo
Aug. 9, 2021
-
New trade minister vows to fight protectionism, expand free trade network
South Korea's newly appointed Trade Minister Yeo Han-koo said Monday he will make efforts to promote multilateralism in global trade and cope with the looming protectionism by expanding the country's free trade network. "We plan to play a leading role in establishing a new multilateral economic-trade regime in the Asia-Pacific region, which will emerge as the key pillar of the global economy in the future," Yeo said in his inauguration speech. In line with such efforts, Yeo added the
Aug. 9, 2021
-
MBK Chairman to donate W30b to build public library in Seoul
Seoul-based private equity house MBK Partners founder and chairman Michael Byung-ju Kim has pledged to donate 30 billion won ($26.5 million) to the Seoul Metropolitan Government to build a public library in Seoul, MBK Partners said Sunday. The gift represents the first case where an individual‘s donation covers the entire cost of building a civic institution by Seoul’s municipal government, MBK said in a statement. The Seoul Public Kim Byung-ju Library, named after the donor, wil
Aug. 8, 2021
-
Samsung Electronics union, management to sign first collective agreement
Labor and management at Samsung Electronics are to sign a collective agreement Thursday, the first in the company’s history. The IT firm officially abandoned its controversial “no union” policy in 2019. According to the two sides, representatives of management and labor agreed on a 95-clause pact dealing with compensation for occupational injuries, human resources management and the protection of union activities. A signing event will take place Thursday, with the location y
Aug. 8, 2021
-
[Newsmaker] Samsung chief’s parole to be decided
Every summer around this time, South Korea releases hundreds of prisoners either on parole or pardons, in celebration of Liberation Day on Aug. 15. This year, the traditional practice of clemency has drawn particular attention as it could include one of the richest men in the country: Samsung Electronics Vice Chairman Lee Jae-yong, the de-facto chief of Samsung Group. Come Monday, a parole committee within the Ministry of Justice will convene for a final review of candidates, which will det
Aug. 8, 2021
-
Invesco’s blockchain ETF sheds W10b stake in Nexon GT as NXC founder resigns
An exchange-traded fund managed by US-based Invesco Investment Management sold 2.4 percent in Nexon GT just a day after its founder Kim Jung-ju stepped down from the top post of gaming giant Nexon’s holding company NXC, a filing showed Sunday. The instrument, Invesco Elwood Global Blockchain UCITS ETF, unloaded 837,817 common shares of Nexon GT -- the only South Korea-listed subsidiary of NXC -- to cash in 10.3 billion won ($9 million) on July 30. The equity ETF dedicated to blockchain i
Aug. 8, 2021
-
Political figures cleared in hedge fund scandal
South Korean political figures were cleared of any involvement in the nation’s high-profile 1.6 trillion won ($1.4 billion) hedge fund fraud, which centers on the effectively defunct private equity firm Optimus Asset Management, prosecutors announced Sunday. The Seoul Central District Prosecutor’s Office said that it had dismissed charges Wednesday against three ex-Optimus advisers of accepting property through arrangement and assisting fraudulent activities. They are Lee Hun-j
Aug. 8, 2021
-
[Herald Interview] Young CEO sets sights on future of construction
It was Kim Hwang-su’s father who built Dongnam Construction Chemical from scratch and grew it into a leader in the local concrete admixture market. Now, the second-generation chief, 38, aims to take on the conservative industry with technological innovations. “I think my father had faith in the local constructions market,” said Kim, who took over as CEO in 2018, as he recalled memories of his father. “He believed there would come a time when our country also starts bui
Aug. 8, 2021
-
Blockbuster IPOs push Kospi’s market cap to record high
The market capitalization of South Korea’s benchmark stock index reached an all-time high with a series of blockbuster initial public offerings, according to data released by the country’s bourse operator Sunday. The accumulated market valuation of listed firms on the main Kospi market came to 2,334.6 trillion won ($2.04 trillion) as of market closing of Friday. It was up by 20.2 trillion won from the previous record high of 2,314.4 trillion won set at the closing bell on July 6, K
Aug. 8, 2021
-
[Feature] Plastics pile up amid food delivery boom
Food delivery apps such as Baemin and Coupang Eats have brought us great comfort in this pandemic, as months of social distancing and restrictions on business hours left us with little choice. But as the market nearly doubled to 17.38 trillion won ($15.22 million) in South Korea last year, with 27 million monthly users and 120,000 riders according to Statistics Korea and the Fair Trade Commission, plastic waste has also increased considerably. In one Facebook group for people trying to avoid
Aug. 8, 2021
-
FTC investigates bar association over LawTalk ban
South Korea’s Fair Trade Commission is looking into a case filed by legal counselling app LawTalk earlier this year against the Korean Bar Association after the organization decided to ban its members from joining such platforms. The clash between the disruptive mobile service and the bar association, which led to a series of tit-for-tat actions including a Constitutional Court case, could be judged from a fair trade point of view, if the FTC determines the association as a business assoc
Aug. 8, 2021
-
S. Korea’s food prices increase to third highest among OECD states
South Korea’s food price inflation in the second quarter ranked the third highest among members of the Organization for Economic Cooperation and Development, data showed Sunday. The prices for groceries and nonalcoholic beverages surged by 7.3 percent on-year in the April-June quarter, the fastest gain since 2011, when food prices rose 7.8 percent in the same period, according to data compiled by the OECD and Statistics Korea. Far above the OECD average of 1.6 percent, this on-ye
Aug. 8, 2021
-
Exhibition brings lost potential of games into senses
“Game & Art: Auguries of Fantasy” -- on show at Daejeon Museum of Art Creative Center through Sept. 5 -- peeps into an altered world of “fantasy reality” forged through the synthesis of video games and art. The exhibition, sponsored and participated by NCSoft, one of the top three game developers in South Korea, examines how video games can become playgrounds of images and sounds conceived through imaginations. Walking into the exhibit, viewers are greeted by Ki
Aug. 8, 2021
-
Vaccine bookings for 18 to 49 to start Monday
Vaccinations for people aged 17 to 49 will start Monday, as South Korea struggles to clamp down a fourth wave of the coronavirus. The upcoming vaccine roll out will be crucial in the country’s plan to reach herd immunity by November, the Korea Disease Control and Prevention Agency said, as it covers over 16 million people considered the most socially active among all age groups. Eligible are those born after Jan. 1, 1972, and before Dec. 31, 2003, a group that includes some 17-year-old
Aug. 8, 2021
-
S. Korean economy faces heightened uncertainty amid 4th wave of pandemic: KDI
The South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases, a state-run think tank said Sunday. Asia's fourth-largest economy is on a recovery track amid solid exports, but the toughest-ever virus curbs, in effect due to the fourth wave of the pandemic, may dampen improving domestic demand, according to a monthly economic assessment report by the Korea Development Institute (KDI). "The intensifying s
Aug. 8, 2021
-
[Photo News] Kia flagship store opens in western Seoul
Automotive firm Kia launched a flagship store in Gangseo-gu, Seoul, Wednesday. The store features a futuristic interior and will offer car exhibitions, test drives, and other services and events. Visitors can scan mobile QR codes for information on Kia’s newest cars and services. Customers can see the latest vehicles in three dimensions via a large media wall installed at the store. Both the interior and exterior of each vehicle will be visible, and customers can see in deta
Aug. 7, 2021