Donning white coats in a lab-like atmosphere, officials at the counterfeit countermeasures center at Seoul‘s KEB Hana Bank headquarters are armed with state-of-the-art digital forensics technology that are able to detect even the most precise, fine-grained currency replications. The number of foreign currency counterfeiters is rapidly increasing as more foreign tourists travel to Korea.  The number of counterfeit bills, which averaged around 500 bills per year, exceeded 1,500 last yea

Market Nov. 17, 2017

US President Donald Trump maximized his opportunity of making his first state visit amid ongoing security instability to add pressure on South Korea to address what he has called a massive trade deficit, highlighting during a joint press conference that Seoul has agreed to purchase billions of dollars’ worth of American military equipment.After his summit talks with President Moon Jae-in at Cheong Wa Dae on Tuesday, Trump again stressed the importance of his agenda to reduce US trade defic

Economy Nov. 7, 2017

On the first day of US President Donald Trump’s state visit to Seoul on Tuesday, he will be joining President Moon Jae-in and more than 100 government and business officials for a state dinner at Cheong Wa Dae.Joining the two world leaders will be a total of 122 guests -- 70 Koreans and 52 Americans. Among the top governmental guests in the business sector will be US Trade Representative Robert Lighthizer; Korea’s top trade Kim Hyun-chong; Paik Un-gyu, minister of trade, industry and

Economy Nov. 7, 2017

Following a strong third-quarter performance, operating profits for Samsung Electronics are expected to continue to rise in the fourth quarter on the back of strong semiconductor exports, according to local investment and securities researchers on Wednesday.  (Yonhap)Samsung Electronics’ fourth-quarter sales are expected to increase by 6 percent to 65.69 trillion won ($59.1 billion), while its operating profit is estimated to increase by 12 percent to 16.29 trillion won, according to a Mirae Ass

Industry Nov. 1, 2017

While the semiconductor industry is chugging along the otherwise gloomy South Korean economy, concerns are being raised that the global demand surge may hit a wall next year.The local memory market has been heavily influenced by supply shortages driving the surge in global demand. However, experts are now forecasting that new capital injections by semiconductor companies such as Samsung Electronics and SK hynix will lead to a reversal of supply and demand. On the back on increased supply numbers

Industry Oct. 25, 2017

Driven by high demand for overseas products during the long Chuseok holiday, the import prices of certain food items soared, according to data compiled by the Korea Customs Service. According to KCS’ data, import prices of seafood and livestock products, such as US beef, saw a significant spike compared to last year, with the prices of some food items increasing by more than 100 percent. In particular, the import prices of king crab and croaker fish more than doubled in a year, the data sh

Economy Oct. 3, 2017

Seoul and Washington were unable to reach a consensus regarding the United States’ request to amend certain terms of the two nations’ free trade agreement, the country’s newly elected chief trade negotiator Kim Hyun-chong said Tuesday. Trade representatives from Seoul and Washington began their first round of negotiation talks on Tuesday morning during the joint committee special session on the Korea-US FTA, held at the Lotte Hotel in Seoul. “We were unable to reach

Economy Aug. 22, 2017

 법무부는 국내에 들어오는 원어민 교사만을 대상으로 하는 의무적 에이즈(AIDS·후천성면역결핍증) 검사를 폐지했다고 7일 밝혔다. 코리아헤럴드가 법무부에 확인한 결과에 따르면, 비자 규정을 지난 3일 관보에 고시함에 따라 회화지도(E-2) 비자를 가진 원어민 교사들이 외국인등록 신청 시에 의무적으로 제출해야 하는 채용신체검사서에 에이즈검사 항목이 폐지됐다. 외국인 교사에 대한 차별 논란을 불러일으켰던 해당 규정이 폐지되기 전까지 E-2비자 대상 원어민 교사는 의무적으로 약물검사 및 에이즈 감염여부 검사를 받아야 했다. UN에이즈(UNAIDS)의 아시아태평양지역지원팀 소장 이먼 머피는 이번 개정이 “한국에서 에이즈 감염 환자들을 향한 어떠한 차별이 없다는 것을 보장하는 큰 발전”이라며 환영의 뜻을 표했다. 지난 2009년 지방 한 초등학교의 원어민 보조교사 A 씨가 해당 조치를 중단해 달라는 취지의 탄원서를 법원에 제출한 지 8년 만의 일이다. 뉴질랜드 출신의 A씨는 계약 연장 제의를

한국어판 July 7, 2017

Hyundai Motor on Monday launched its new Ioniq plug-in, the last of the three-series green car Ioniq models.　Hyundai‘s Ioniq lineup now features three eco-friendly car options -- the hybrid, electric and its latest plug-in, which merges the key functions of the hybrid and electric functions into one. Using both an internal combustion engine and rechargeable batteries, the new plug-in hybrid electric vehicle model offers fuel efficiency of roughly 20.5 kilometers per liter and a driving range of

Mobility Feb. 27, 2017

SsangYong Motor has partnered with South Korea’s largest steelmaker Posco to roll out a premium sport utility vehicle that boasts safety and performance. 　The tie-up between the two firms was highlighted at the SUV Tech Forum, organized by SsangYong and Posco in Seoul on Friday, with industry experts in attendance. 　Slated for launch in May, SsangYong’s upcoming SUV Y400 uses Posco’s advanced high-strength steel for its vehicle frames. 　“Posco has researched and developed light yet safe steel pr

Industry Feb. 26, 2017

The Korea Herald is publishing a series of articles highlighting South Korea’s promising start-ups in the emerging sectors of digital healthcare and next-generation medical devices. This is the second installment. –Ed.In the medical world, the stethoscope -- used to listen to the internal sounds of the human body -- has long been a symbolic tool for doctors.　But a Seoul-based startup has come up with a pocket-sized ultrasound imaging device that connects to smartphones and tablets, in the hope t

Technology Feb. 26, 2017

　Ford Korea recently released its latest SUV model, the 2017 Ford Kuga. And while the compact SUV is a perfectly decent vehicle, it nevertheless lacks that special factor that makes shelling out nearly 40 million won ($35,300) seem like a worthwhile decision.　Earlier this month, members of the media were given the opportunity to take the new Ford Kuga out for a spin on the winding, multi-terrain streets and back-alleys of Paju, Gyeonggi Province. 　The 2017 Kuga offers a more spacious interior an

Mobility Feb. 26, 2017

Korean stocks are the most undervalued in the world, being cheaper than not only those in advanced countries but also emerging economy shares, according to local experts Sunday.According to data from Samsung Securities and local reports, the previous 12-month price-earnings ratio in the domestic stock market was 9.6-to-1, much lower than the averages of the MSCI’s emerging and advanced market indexes.  (123RF)The price-earnings ratio is the ratio for valuing a company by measuring its current sh

Feb. 26, 2017

GM Korea CEO James Kim said Thursday the company will conduct internal audits and structurally reorganize the company following the indictment of 31 individuals accused of being involved in selling job positions at the domestic branch of the American automaker. 　Earlier this month, the Incheon District Prosecutor’s Office indicted five former and current senior GM Korea employees, as well as a group of former and incumbent labor representatives after an eight-month investigation. They are suspec

Mobility Feb. 23, 2017