Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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[Newsmaker] RB’s London office targeted in disinfectant case
Despite an official apology by Oxy Reckitt Benckiser on Monday, South Korea’s prosecution is reportedly zeroing in on executives from its head office in London over allegations that they connived to conceal evidence on the toxicity of humidifier sterilizers blamed for the loss of at least 103 lives here.According to reports, the prosecution has decided to investigate officials at Reckitt Benckiser’s headquarters, after securing testaments and circumstantial evidences that they had remained silen
IndustryMay 2, 2016
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[Newsmaker] ‘Iranian rush’ poses diplomatic challenges
South Korea’s efforts to improve relations with sanction-freed Iran, while providing new momentum for its economy, is likely to come with a few challenges for its diplomatic blueprint.Citing Iran’s alleged military exchanges with North Korea, as well as its persisting tension with Middle East power Saudi Arabia, experts suggested that South Korea should maintain balance amid the multilateral frame.It was Iranian Ambassador to Korea Hassan Taherian who stepped out to clear doubts on Iran’s partne
PoliticsMay 1, 2016
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[NEWSMAKER] Tense protests against Trump in California
BURLINGAME (AFP) -- Hundreds of demonstrators jostled with police in riot gear outside a California hotel where Republican presidential frontrunner Donald Trump gave a speech, forcing the candidate to duck into a back entrance.At one point, several dozen protesters broke through barricades and attempted to storm the hotel where the California Republican Party Convention was taking place on Friday, but police, some wielding batons, were able to push them back.The demonstrators waved banners that
InternationalApril 30, 2016
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[Newsmaker] Samsung BioLogics to make blockbuster IPO
Samsung BioLogics on Thursday said that it would pursue an initial public offering on South Korea’s main bourse, the KOSPI, with plans to complete the IPO process within this year.The company stated plans to select advisers to lead its IPO by next month to decide on the exact timing and the volume of shares to be offered. Samsung BioLogics declined to comment on the potential size of the IPO. However, industry analysts estimate at least 3 trillion won ($2.6 billion) worth of new shares will be i
IndustryApril 28, 2016
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[Newsmaker] KDB burdened by corporate debt restructuring
State-owned Korea Development Bank was founded in 1954 with a specific goal and role -- to back the government’s industrial policies by providing necessary capital to help companies innovate, grow and most importantly, create jobs.But 62 years later, with a plethora of companies failing to meet their debt obligations and facing inevitable restructuring through asset sales and job cuts, the policy bank has now turned into a “fireman” who will have to put out the fire caused by corporate mismanage
April 27, 2016
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[Newsmaker] Former Hanjin Shipping chief faces FSC probe for dubious trading
Hanjin Shipping’s former chairwoman Choi Eun-yeong has come under scrutiny by financial authorities over suspicions that she might have used insider information to sell her shares in the troubled firm. According to sources Tuesday, the former chief and her two daughters sold their 970,000 company shares -- 0.39 percent of the total shares -- worth 3 billion won ($2.6 million) three days before the company’s board of directors decided to file for creditor-led rehabilitation on Friday. Hanjin Ship
IndustryApril 26, 2016
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[Newsmaker] Obama pushes for global trade deals in face of opposition
HANNOVER, Germany (AP) -- President Barack Obama mounted a strong defense of international trade deals Sunday in the face of domestic and foreign opposition, saying it‘s ``indisputable’‘ that such agreements strengthen the economy and make U.S. businesses more competitive worldwide. But he acknowledged that the clock is ticking on his faltering trade agenda. Obama, on a farewell visit to Germany as president, is trying to light a fire under stalled talks about a trans-Atlantic trade deal, a m
World NewsApril 25, 2016
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[Newsmaker] 400th anniversary of Shakespeare's death
STRATFORD-UPON-AVON, England (AFP) -- Thousands of people from around the world descended upon William Shakespeare’s hometown Saturday for a day of theater, dancing and fireworks marking the 400th anniversary of the Bard’s death.Some 10,000 people turned out in Stratford-upon-Avon, central England, to see a parade revved up by a New Orleans jazz band, with fans of the English language‘s foremost playwright donning Shakespeare masks as they joined in the party.And in London, U.S. President Barack
World NewsApril 24, 2016
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[Newsmaker] Layoff fears loom at Hyundai Heavy shipyards
Workers at shipyards of Hyundai Heavy Industries, located in Ulsan, South Gyeongsang Province, raised concerns over a possible massive layoff on Friday, insisting that CEOs and executives have to be responsible for their poor management before considering a workforce reduction or downsizing. “We want to believe that the recent news report that the company is set to announce a 10 percent workforce reduction plan next week is not true,” Kim Byung-jo, a spokesperson of the shipbuilder’s labor u
BusinessApril 22, 2016
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[Newsmaker] Reckitt Benckiser apologizes, offers funds
Amid the prosecution’s widening probe into Oxy Reckitt Benckiser Korea and other companies related to their toxic humidifier disinfectants, the British firm apologized on Thursday to victims and unveiled a plan to offer an additional 5 billion won ($4.4 million) in humanitarian assistance. In a letter released Thursday afternoon, the company addressed its “social responsibility” in deaths and diseases caused by its humidifier sterilizers, saying it would cooperate with investigators to solve the
Social AffairsApril 21, 2016
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[Newsmaker] Samsung ready to tie technology with fashion
Technology will play a significant role in revolutionizing the global fashion industry, the chief of Samsung’s fashion unit said Wednesday, stressing that the South Korean electronics giant is ready to take the lead in the marriage between technology and fashion. A timeless value has been a defining component of luxury fashion for decades. However, fashion will become "limitless" in the future as fast-evolving technology and social networking services transform the way people experience and cons
IndustryApril 20, 2016
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[Newsmaker] Saudi Arabia mixes oil policy with politics
After taking over defense and economic planning, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has now stamped his authority over oil policy.In so doing, the 30-year-old son of King Salman upended the Saudis’ decades-long approach of separating commercial from political considerations. Over the weekend, Saudi officials quashed an agreement among major oil producers in Doha to freeze output due to Iran’s refusal to participate, a sign the regional rivalry is infecting the market. Saudi
World NewsApril 20, 2016
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[Newsmaker] Lawmakers OK Rousseff impeachment trial
Brazilian lawmakers authorized impeachment proceedings against President Dilma Rousseff in a rowdy, circus-like showdown that plunged Latin America's biggest country into profound political crisis and sparked claims that democracy was under threat.Opposition deputies in the lower house of Congress needed 342 of the 513 votes, or a two thirds majority, to send Rousseff to the Senate, which will now decide whether to open a trial. They got there near midnight on Sunday after five hours of voting.
World NewsApril 18, 2016
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[Newsmaker] Pope brings 12 Syrian refugees to Rome
Declaring “we are all migrants,” Pope Francis visited the Greek island of Lesbos on Saturday with a message of hope for those seeking asylum in Europe, 12 of whom he took home with him to the Vatican. Pope Francis welcomes a group of Syrian refugees after landing in Rome following a visit at the Moria refugee camp in the Greek island of Lesbos on Saturday. (AFP-Yonhap)His one-day trip to Europe‘s migration hot spot culminated dramatically when three Syrian refugee families, all Muslim, returne
World NewsApril 17, 2016
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[Newsmaker] Ahn chases second wave of political momentum
Since stepping into politics in 2011 as a fresh alternative, former computer virus vaccine developer Ahn Cheol-soo has received fluctuating reactions from the public, varying from high hopes to utter skepticism.Despite persisting doubts and disapproval, the information technology mogul-turned-politician at last seems to have made his mark as a heavyweight opposition figure, thanks to his party’s surprising achievement in Wednesday’s parliamentary election.People’s Party leader Rep. Ahn Cheol-soo
PoliticsApril 14, 2016
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[Newsmaker] Abusive moguls face growing public pressure
Business tycoons will soon come under closer watch, as political parties and civic groups are seeking to strengthen monitoring and regulation of their behavior. The move comes amid mounting public criticism toward conglomerate leaders, following a recent series of alleged assault and abuse cases. Nonprofit organization Public Welfare Committee recently set up a call center to monitor abusive remarks or acts by owner family members, CEOs or executives in workplaces.“We wanted to get to the botto
IndustryApril 13, 2016
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[Newsmaker] Kakao’s profit estimates nosedive
Kakao, the operator of South Korea’s most-used mobile messenger, is likely to see its profits nosedive in the first quarter despite its aggressive moves to expand mobile and offline businesses, analyst reports said Tuesday. However, the company’s issuance of convertible bonds worth 250 billion won ($219 million) will clear the uncertainty over its funding needs, they said.Kakao’s net profit in the first quarter is expected to have plunged 45.3 percent year-on-year to 22.1 billion won, and operat
TechnologyApril 12, 2016
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[Newsmaker] Hyundai close to 100m sales landmark
April will be a landmark month for the global success of Hyundai Motor Group as its cumulative global sales is poised to surpass 100 million units. The Korean automotive giant said Monday that the combined global sales of its two automakers -- Hyundai Motor and Kia Motors -- reached 99.7 million units in March, and is expected to cross the 100-million mark this month. “Few automakers in the world have achieved such a sales record in the global market,’’ said Kim Pil-soo, an automotive engineerin
MobilityApril 11, 2016
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[Newsmaker] Cameron releases tax records amid Panama row
LONDON (AFP) -- British Prime Minister David Cameron on Sunday released his tax details in a bid to head off a row over his father’s offshore business, and announced a new taskforce to scrutinize the so-called Panama Papers.Hundreds of demonstrators rallied outside Cameron’s office Saturday calling for his resignation after he finally admitted to having held shares in his late father’s Bahamas-based investment fund, which cropped up in the documents leaked from Panama law firm Mossack Fonseca.Br
World NewsApril 10, 2016
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[Newsmaker] Food industry to join Korea’s war on sugar
The South Korean food industry pledged Friday to actively partake in new government measures aimed at reducing citizens’ sugar consumption and promoting public health. Local food companies say they are already engaged in efforts to reduce sugar content in their products and will continue on this trajectory in line with rising health consciousness here and abroad. “The food industry will actively abide by the government’s new policy toward sugar reduction,” the Korea Food Industry Association sai
IndustryApril 8, 2016