Most Popular
-
1
Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
-
2
Seoul bus drivers go on general strike, cause morning rush hour delays
-
3
Korea enters full election mode
-
4
Official campaigning kicks off for April 10 elections
-
5
Dialogue hopes fade as doctors pick hard-liner as new head
-
6
Immigrant woman stabbed to death by Korean husband
-
7
Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
-
8
[Election Battlefield] Political novice to face off star politician in ‘swing district’
-
9
[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
-
10
Seoul’s bus union prepares for strike
-
[Weekender] Will big wallets become a thing of the past?
With the rise of plastic cards and smartphone applications in everyday transactions, Korean consumers have little need for cash -- or full-sized wallets.Data shows that consumer preferences are turning more toward smaller, thinner wallets whose primary function is to hold plastic cards.According to online marketplace Gmarket, sales of card wallets and money clips surpassed that of half- and full-sized wallets in 2014 and 2015. In 2010, card wallets and money clips had represented just 10 percent
April 15, 2016
-
[Weekender] A cashless society
A cashless society is fast becoming a reality in Korea.Cashless transactions here have already overtaken those made with notes and coins. Koreans use cash for just 20 percent of all payments they make. According to a recent survey by the Bank of Korea, the average Korean carries 74,000 won ($65) cash and two credit cards in their wallet, withdrawing cash out of ATMs only three times per month.Men and older people still prefer cash compared to Women and younger people, the survey found. “Spending
April 15, 2016
-
[Weekender] ‘Descendants of the Sun’: more fantasy than reality
Lee Soo-yeon, a 27-year-old office worker in Seoul, can’t get enough of “Descendants of the Sun,” the ongoing Korean drama series that features a military romance between a solider and a surgeon. “I think the series has many things that I can’t really see or achieve in my real life, such as the sense of justice, responsibility and altruism,” she told The Korea Herald. “And on top of all that, it is just very romantic.” The 16-episode series takes place in a fictional war-torn Mediterranean coun
Social AffairsApril 8, 2016
-
[Weekender] Military at crossroads on female soldiers
It was almost a no-brainer for Park Na-hyun, a 26-year-old female student, to join the military.Having grown up in a family with a “disciplinary” father who served in the military for 20 years, military uniform was the norm. The scholarship provided by the military school was also a merit hard to pass up.However, eight months into her first year at military school, she decided to quit. As one of the two exclusive female cadets out of 30 cadets in her squad, she said she experienced implicit disa
DefenseApril 8, 2016
-
[Weekender] Military culture infuses throughout every part of society
On an ordinary weekday morning, throngs of executives line up by rank at the lobby of a sprawling glass building in Seoul that houses the headquarters of one of the country’s biggest family-run conglomerates. They are awaiting the chairman, who is about to make his entrance in about half an hour. As he emerges through the door, a vacuum-like, fleeting stillness sweeps through the pack, followed by waves of deep bows from the waist. In the evening, on the other side of town, a group of college st
DefenseApril 8, 2016
-
[Weekender] Military life leaves mental marks
Former Brig. Gen. Yoon Han-doo recalls the day when South Korean corvette Cheonan was struck by a North Korean torpedo on March 26, 2014. The retired general had been serving as the head of the Armed Forces Capital Hospital, which attended to the wounded sailors after the incident that left 46 dead.“Right then, I thought ‘this is a war, these are casualties of war,’” he said. Nearly 63 years have passed since the 1950-53 Korean War ended in an armistice, but the occasional skirmish with the comm
DefenseApril 8, 2016
-
[Weekender] A soldier’s life
On July 27, 1953, the three-year Korean War ended in an armistice, not a peace treaty. Nearly 63 years later, inter-Korean tensions are at their highest point in years as North Korean leader Kim Jong-un issues threats of nuclear strikes against the South and the U.S.The peculiar background means South Korea still has mandatory conscription for all able-bodied men. Nearly all adult men in Korea have hoisted and fired a gun and marched in military uniform with the purpose of protecting their count
DefenseApril 8, 2016
-
[Weekender] Korea's reluctant reservists
Whenever former military officer Kim Jung-wook receives a letter from the Army requiring him to join a military drill as reservist, the 28-year-old office worker is nervous about how to bring it up with his boss. “Sometimes I feel like I’m requesting a permission for time off,” Kim told The Korea Herald “Though no one has ever accused me of it, I am worried that my boss and teammates wouldn’t appreciate it because I am the only one who has served in the military from the team,” he said. He is on
PoliticsApril 8, 2016
-
[Weekender] Art auction boom lifts shares of Seoul Auction
Shares of Seoul Auction, the only listed art auction house in Korea, rallied on a rosy outlook for its 2016 performance in the beginning of the year. The company shares hit a record high of 24,950 won ($21.70) on Jan. 19. NH Investments and Securities forecast the company’s operating profits will soar to 21.6 billion won this year, up 43.5 percent from 2014, thanks to increased global interest in Korean monochromatic paintings.The firm’s revenue is also expected to jump to 71.9 billion won this
IndustryApril 1, 2016
-
[Weekender] Foreign interest spurs Korean art market
When Jason Lee, 43, a human resources professional in Hong Kong, visits Seoul to see clients, he makes it a point to squeeze time into his tight schedule to go to a gallery. “I’ve collected contemporary Korean artwork that I like for the past few years for investment purposes, witnessing their growing popularity in the Hong Kong art market,” he said. “As the Korean art boom continues, I can gain high premiums when I resell those artworks at auctions later.” Unlike previous spikes in demand for K
IndustryApril 1, 2016
-
[Weekender] Samsung's tradition of art collection
Samsung Group chairman Lee Kun-hee is known as Korea’s most powerful and the wealthiest business tycoon, but he is also an avid art collector – a side of the man not well-known to the public. Samsung’s chief is currently the largest private holder of artworks in the nation, with more than 150 national treasures in the company’s Ho-Am Art Museum and Leeum museum. “Lee learned how to collect art pieces from his father Lee Byung-chul, the founder of Samsung,” said Lee Chong-sun, who worked as a dir
IndustryApril 1, 2016
-
[Weekender] Auctioneers make a difference in sales
With art auctions booming in South Korea, auctioneers are increasingly a crucial factor in boosting sales at such events. “Auctioneers play a key role in setting market prices during art auctions,” Kim Hyun-hee, an experienced auctioneer for Seoul Auction, said in an interview with The Korea Herald.“They need extensive understanding and knowledge of art to induce participants to compete for the best prices,” she said. Kim, who studied history in college and art history in graduate school, starte
PerformanceApril 1, 2016
-
[Weekender] Arts emerging as alternative investment
Given the current low interest rates, negative rates, low inflation and slow growth, investors are in search of alternative investment products that offer higher returns than savings.Stocks and equity funds are ideal during low inflation, but can be volatile when unpredictable forces suddenly catch markets off guard. Gold and U.S. dollars are attractive assets in times of uncertainties, in addition to bonds that can offer steady monthly returns.Bids are placed on “Nu assis sur un divan (La Belle
PerformanceApril 1, 2016
-
[Weekender] Dansaekhwa, force behind globalization of Korean art
At K Auction’s Hong Kong sale on March 25, Korean monochrome paintings, dubbed Dansaekhwa, led strong sales, proving its steady popularity among international collectors. A 1975 abstract painting by Kim Whan-ki fetched 2.2 billion won ($1.8 million). All six paintings of Park Seo-bo were sold. A white monochrome painting by Chung Sang-hwa sold for 710 million won, higher than its highest estimate of 473 million won. “We could see that the Dansaekhwa boom was continuing. They attracted attentio
PerformanceApril 1, 2016
-
[Weekender] Korea plays catch-up in space race
From military to weather to asteroid mining, outer space’s seemingly infinite scientific and commercial potential has in recent years been enticing a growing roster of countries across the globe into exploring the boundless expanse. Despite being a latecomer to the bandwagon, South Korea is seeking to expand its forays, such as with a moon probe, capitalizing on its success -- following two failed attempts -- in lifting off its first Naro space rocket in January 2013 with the help of Russia. N
Foreign AffairsMarch 25, 2016
-
[Weekender] Space films score big on Koreans’ curiosity, fantasy
Space has become a new theme powering ticket sales in Korean theaters of late, thanks to the growing interest in science as well as evolving visual technology.The past three years at the Korean box office have seen a string of successful Hollywood movies set in space. Alfonso Cuaron‘s “Gravity” set the spark in October 2013, followed by the blockbuster hit “Interstellar” by Christopher Nolan in November 2014, and “The Martian” and “Star Wars: The Force Awakens” just two months apart in late 2015
FilmMarch 25, 2016
-
[Weekender] Aiming for the moon
SEOUL/DAEJEON -- Despite several early failures, Korean engineers and scientists are poised to leap into space, hoping to realize the country’s long-cherished goal of reaching the moon.Following a late start, Asia’s fourth-largest economy went through many challenges to develop its own launch vehicle, which is key to the nation’s space project.The efforts have paid off as Korea is now on the threshold of a new era in space technology, with its first lunar exploration planned for 2020. It is a ma
IndustryMarch 25, 2016
-
[Weekender] 'Giving up not an option for Korea’s space development'
DAEJEON -- Like many people, Cho Gwang-rae, president of the Korea Aerospace Research Institute, has always been fascinated by space rockets and outer space. He grew up watching foreign astronauts land on the moon, amid fierce space competition between the U.S. and then-Soviet Union in the late ’60s. However, he never envisioned that he would one day become the person in charge of Korea’s space project. After earning his Ph.D. in high-frequency microwave engineering, Cho was asked to participat
IndustryMarch 25, 2016
-
[Weekender] Korea needs big players for space expedition
A race to conquer space has been heating up with more billionaires and entrepreneurs around the world betting big on commercial space businesses such as space travel and cargo delivery to space stations. Korea, as a late-starter, succeeded in launching a rocket in 2013. However, the country has been struggling to make its way into the top echelon of the world’s space sector due to its lack of talents, experience and investment.Long exposure of the launch, reentry and landing of U.S. space firm S
TechnologyMarch 25, 2016
-
[Weekender] Will ‘Descendants’ spur film-style TV drama production?
Almost everyone is talking about “Descendants of the Sun,” the latest joint Korea-China television drama project.Fans have fallen head over heels into the love story between an Army captain played by Song Joong-ki and a doctor played by Song Hye-kyo in a faraway, natural disaster-hit country. Critics, meanwhile, predict that this blockbuster will boost KBS, a network broadcaster that has been lagging behind MBC, SBS and even cable channels such as tvN in dramas.A scene from “Descendants of the S
TelevisionMarch 18, 2016