Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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[Graphic News] Korea's plan to keep summer lights on
The government has announced a new set of approaches to cope with this summer’s surge in electric power demand. According to the Ministry of Trade, Industry and Energy on Tuesday, this summer’s demand for electric power is forecast to peak at 80.9 million kilowatts, a 4.85 million kW increase from last year. The demand will most likely to occur during the second and third weeks of August. The country’s maximum electric power supply is expected to increase up to 88.3 million kW, the number increa
World NewsJuly 5, 2015
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[Graphic News] Foreign population in Korea reaches 1.8 million
The number of expatriates residing in South Korea as of last year reached 1,797,618, marking 3.57 percent of the total population, statistics from the Justice Ministry showed this week.It marked a sharp increase from 2005, when a total of 747,000 foreigners were living here, 1.55 percent of the population then.A total of 14.3 million foreign nationals entered the country, more than double the 6 million recorded 9 years ago.By nationality, the largest group who entered Korea were Chinese at 44 pe
Social AffairsJuly 2, 2015
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[Graphic News] Koreans spend more time sleeping and eating
The average Korean spent more time sleeping and eating, and less time studying, compared to five years ago, survey results showed Monday.The time use poll on 12,000 households showed that compared to 2009, people spent 21 more minutes on sleeping and eating in 2014, clocking in at 11 hours and 14 minutes of off-time.Time spent studying fell by 17 minutes and commuting by five minutes compared to 2009, while time for wage-generating work and household chores was largely steady, increasing by just
IndustryJune 30, 2015
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[Graphic News] Average age of major companies stands at 28.3
The average age of the nation‘s major companies was 28.3 years old, data showed Monday.The Korea CXO Institute examined the top 2,000 listed and nonlisted companies and found their average ages by industry, excluding those from the financial sector.The textile industry had the highest average age at 51.5 years old. The textile industry includes a number of textile companies that are over 60 years old.The average ages of the food and drink manufacturing industry and the construction industry were
IndustryJune 29, 2015
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[Graphic News] Korea lowers growth outlook to 3.1%
The Korean government lowered its economic growth forecast for 2015 from 3.8 percent to 3.1 percent.Presenting its economic policy direction for the second half of the year, the Ministry of Strategy and Finance said it cut the growth forecast due to falling exports and the effect of the Middle Eastern respiratory syndrome outbreak on spending and tourism.The ministry also cut its forecast of the employment rate for the year, from 66.2 percent to 66.0 percent.The expected consumer inflation rate
IndustryJune 28, 2015
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[Graphic News] Population movement lowest in 40 years
The number of people who moved in May was the lowest in 40 years, data showed Wednesday.According to Statistic Korea, 606,000 people moved last month, a 1.2 percent decrease from the same time period last year.Data showed that this is the lowest number of people moving in May since 1975 (480,000 people).Experts suggest that the decrease in population movement is due to decreased domestic migration for school and work.A spokesperson from Statistics Korea said that different regions in Korea have
IndustryJune 25, 2015
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[Graphic News] Fading hopes of separated families
Nearly half of the 129,688 South Koreans who had registered with the Korean Red Cross to have a chance to reunite with their loved ones in the North are deceased.The actual number of separated families is thought to be much higher when including those who did not report due to fears of any negative impact it would have on their families across the border.Of the 66,843 surviving families here, the majority, or 42.5 percent, are in their 80s, while 27.2 percent are in their 70s. Some 12.1 percent
North KoreaJune 24, 2015
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[Graphic News] Korea’s growth engine technology 3.8 years behind U.S.
South Korea’s technology level in its chosen growth engines is 3.8 years behind that of the United States, a ministry report found Tuesday.According to the Ministry of Science, ICT and Future Planning, there are 13 new growth engines that it would focus on developing, including 5G mobile communications, smart cars, intelligent robots, smart disaster safety management systems and the Internet of Things.However, when the ministry compared Korea’s technology in these sectors are compared to that of
IndustryJune 23, 2015
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[Graphic News] Government collects record fines
The total amount of fines the government collected hit a record high last year mainly due to its tough response to unfair corporate practices, data showed. According to a report from the Finance Ministry, which was submitted to opposition lawmaker Choi Jae-sung, the government collected fines amounting to 3.2 trillion won ($2.86 billion) in 2014, up 12.9 percent from the previous year.In particular, fines from tax dodgers and traffic violators tripled over four years to 949.1 billion won, with t
Social AffairsJune 17, 2015
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[Graphic News] Overseas construction orders of Korean firms surpass $700b
The cumulative overseas construction orders of South Korean builders has exceeded $700 billion since they first ventured abroad in 1965, data showed Thursday.According to the Ministry of Land and the International Construction Information Service, the amount of construction order commissions reported was $699.54 billion as of June 10. However, if Samsung C&T’s order of $694 million for the WestConnex construction in Sydney, Australia, on June 4 it included, the total reaches $700.23 billion.Sout
IndustryJune 11, 2015
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[Graphic News] Average yearly pay at big firms reaches W75.64m
Employees working at South Korean conglomerates earned an average of 75.64 million won ($67,000) last year, said Job Korea, a leading local employment website. The recruiting company collected salary data from corporate reports submitted by 90 of Korea’s top 100 companies. Among the 887,636 employees, including contract workers, 75.1 percent were male and 24.9 percent were female.According to the data, male employees earned roughly 30 million won more than female colleagues, as men received an a
World BusinessJune 9, 2015