Most Popular
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Yoon sorry for shortcomings but insists policies were right
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S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
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1 in 3 Koreans live alone, family types becoming diverse
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US 'incredibly concerned' about suspected NK-Iran military ties
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Korean won weakens amid heightened uncertainty
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Seoul says will cut power to porn festival planned on Han River
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Sewol victims commemorated on tragedy's 10th anniversary
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Chanel, Louis Vuitton see muted growth in Korea
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Customs nets more excess shoppers
Surge may have been caused by Korea-EU FTA taking effectThe number of travelers purchasing luxury goods in Europe sharply increased after the Korea-EU free trade agreement took effect in July, the customs agency said Sunday. A total of 1,056 people were stopped by customs officials last month as the
Aug. 14, 2011
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‘Turkey hopes to sign FTA with Korea by yearend’
Turkey’s Economy Minister Zafer Caglayan said Friday his country hopes to sign the free trade agreement with Korea on product trading by the end of this year.“We have had our differences regarding product trading in the past, but it seems the issues have been taken care of in various aspects and the
Aug. 12, 2011
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Billionaire Soros' ex-girlfriend files $50m suit
George Soros (Bloomberg)NEW YORK (AP) -- The former girlfriend of billionaire financier George Soros has accused him of reneging on a promise to buy her an apartment in New York City and has filed a $50 million lawsuit.Adriana Ferreyr filed the suit in Manhattan court on Wednesday.The 28-year-old Br
Aug. 12, 2011
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Ministry denies report on fuel import from Japan
Officials at the Ministry of Knowledge Economy denied news reports that the government is considering importing petroleum products including gasoline from Japan in a bid to slash fuel prices.“We have no knowledge of petrol imports or any examination underway,” a ministry official told The Korea Hera
Aug. 11, 2011
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Ticket Monster sale signals shift in industry
The selling of No. 1 social commerce giant Ticket Monster is signaling massive restructuring for the local fast-growing market, experts said Thursday. “This incident is deemed to become the beginning of an industrial restructuring,” said Ryu Han-seok, executive director of the TLC Institute, who is
Aug. 11, 2011
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SK Comm. under fire for poor security
Company to unveil additional plan to counteract recent security breachSK Communications said Thursday it is getting ready to release its second set of countermeasures as early as this week, following the country’s worst security breach.On Thursday, police confirmed that a hacker used an Internet Pro
Aug. 11, 2011
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Hyundai’s Genesis, Equus overtake Lexus in U.S. market
South Korea’s leading automaker Hyundai Motor Co. is fast catching up with its rivals in the large luxury car market in the United States, already overtaking Lexus, the luxury brand of Japan’s Toyota Motor Co., a U.S. online magazine said Thursday.In June, Hyundai Motor sold 3,370 units of its Genes
Aug. 11, 2011
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Korean firms sweep global DRAM market
Samsung Electronics Co. and Hynix Semiconductor Inc., the world’s two largest makers of computer memory chips, dominated the global market for dynamic random access memory chips in the second quarter despite a looming global economic slowdown, a report showed Thursday.According to the report by Taiw
Aug. 11, 2011
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SKT, KT introduce new monthly payment plans
Two leading mobile carriers ― SK Telecom and KT Corp. ― are engaged in a price war as both introduced new monthly telecom service payment plans on Thursday, which they claim offer cheaper than existing smartphone service rates.The monthly smartphone payment plans enable customers to choose the numbe
Aug. 11, 2011
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Illegal capital outflow almost triples: data
Illegal capital outflow has almost tripled here over the past five years, a lawmaker revealed Thursday citing the data from Korea Customs Service. A total of 22 cases of assets moving abroad illegally were confirmed last year, up from six in 2006, according to Rep. Kwon Kyoung-seok of the ruling Gra
Aug. 11, 2011
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Baby boomers give birth to new industries
Elderly care robots, meal delivery and health products rental create niche marketsAt a nursing home in New Zealand, a Korean-made robot offers a blueprint for the future of old age. The silver-colored, kiosk-shaped robot monitors residents’ vital signs and biorhythm in real time, provides brain trai
Aug. 11, 2011
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Silver industry thrives to cater for baby boomers
All-in-one silver towns, job training all part of burgeoning new businessTo 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 is the
Aug. 11, 2011
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Japan machinery orders rise on earthquake rebuilding
Japan’s machinery orders rose for a second month in June as companies increased spending to restore businesses and production disrupted by the March 11 earthquake and tsunami. Factory orders, an indicator of capital spending in three to six months, rose 7.7 percent in June from May, the Cabinet Offi
Aug. 11, 2011
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France’s ‘AAA’ credit affirmed by S&P, Moody’s
France’s top credit grade was affirmed by Standard & Poor’s, Moody’s Investors Service and Fitch Ratings as relative yields on the nation’s debt climb on concern that Europe’s sovereign debt crisis is intensifying. The outlook on France is stable and its “AAA” ranking is “warranted,” Moritz Kraemer,
Aug. 11, 2011
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Asia in balancing act as prices rise, growth weakens
SINGAPORE (AP) ― Asia batted away the global recession sparked by the 2008 financial crisis. Fending off the latest wave of market turmoil may prove tougher.World stocks were pummeled this week by the first-ever downgrade of the U.S. credit rating and evidence of stalling recoveries in the U.S. and
Aug. 11, 2011
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U.S. budget deficit tops $1tr
WASHINGTON (AP) ― The United States’ budget deficit has topped $1 trillion for a third straight year, adding pressure on Congress and the White House to make more progress on a long-term plan to shrink the growing imbalance.The Treasury Department said Wednesday that the deficit through July totaled
Aug. 11, 2011
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Korean Airport Corp. reappoints chief
Sung Si-chul, chief executive and president of Korean Airport Corp., has been reappointed, the state-run airport operator said Thursday.The decision reflects Sung’s achievement in transforming Gimpo International Airport into East Asia’s business hub over the three years, the company said in a state
Aug. 11, 2011
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Ahn favored most as boss
IT guru Ahn Cheol-soo was picked as the boss that salaried workers most want to work under, a survey released Thursday found. Ahn, who founded the computer vaccine developer AhnLab in 1995, one of Korea’s first-generation IT startups, got 46.9 percent of the vote in a survey of 796 salaried workers
Aug. 11, 2011
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More than half of workers had financial problem with colleagues
(MCT)More than half of Korean workers were not paid back money they lent to colleagues, a poll showed on Thursday.According to Recruit, a local online job search engine, about 87.2 percent of the 532 respondents said that they had lent money to colleagues.But about 57.2 percent replied that they had
Aug. 11, 2011
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S. Korea ranks 7th among OECD nations in environmental R&D spending
The rate of environmental research in South Korea's total government budget for research and development activities was 3.31 percent in 2009, the seventh highest among the Organization for Economic Cooperation and Development (OECD) countries, an OECD report showed Thursday.The ratio was also higher
Aug. 11, 2011