Korea, Japan halt currency swap compact
Decision comes at low point in bilateral ties Korea and Japan will let their expanded currency swap arrangement expire at the end of this month amid a bitter diplomatic row. Policymakers both in Seoul and Tokyo claimed that the agreement between the two nations Tuesday was not a political decision. However, the comments are hard […]
Nuclear safety concerns growing
Experts stress system overhaul necessary to avoid disaster With nuclear reactors shutting down repeatedly month after month, there is growing concern over whether the nation’s atomic power plant management system has a structural problem that could lead to disaster. Recently published data about a spate of nuclear incidents over the past decade suggests that the […]
What explains big cash advances from Macau?
Korean financial authorities are taking a harder look on the sharp rise in cash withdrawals by Korean credit card users in Macau. Gamblers are apparently using their credit cards to pay for bets, but Financial Supervisory Service (FSS) officials are also suspicious about bizarre spending patterns in Asia’s casino capital, which may prove to be […]
How far can English education go?
For decades, Koreans’ zeal for learning English has been incomparable. Parents spend more than 20 trillion won ($18 billion) each year on private education for primary and secondary school students and about a third goes to English language education, government statistics show. The amount does not include money spent on toddlers, college students and adults. […]
Appealing to consumers desires’ and fears
Marketers decieve to win business #1 In the TV commercial of an instant coffee mix, “French Cafe” from Namyang Dairy Products, famous actress Kim Tae-hee drinks the mixed coffee and whispers with a smile, “This is the right time to choose this coffee mix as long as you care about your health, because this contains […]
‘Ice age’ in the offing
Economy trapped in prolonged slow growth The Korean economy has entered a phase of prolonged slow growth where no major shocks exist but a myriad of small risks combine to undermine economic fundamentals at a gradual pace. Simply put, Asia’s fourth-largest economy is not likely to undergo a major crisis similar to the one in […]
‘Jeonse’ blues
Low earners struggle to find homes amid soaring rents Kim Ji-hye, a 37-year-old housewife in Hannam-dong, Seoul, is concerned as the “jeonse” contract with her landlord will soon expire and she will probably face a drastic rise in her deposit when renewing it. “I’m happy with my neighborhood as well as the house where I […]
We remember
It has been a year since Apple founder Steve Jobs died at the age of 56 after a long battle with cancer. Arguments are ongoing as to whether the innovation and dramatic changes in living habits and culture he initiated will continue. Early evidence from Korea, a nation fascinated with e-this and e-that, point toward […]
New cars ready to hit road
Foreign brands aggressively seeking bigger market shares Consumers here have tightened their purse strings but they seem to be open to buying imported cars. Foreign brands seem to be aware of this spending pattern and are poised to unveil new models to snap up a bigger slice of the pie. In the January-August period, a […]
Darkest days in Korean history
People suffered greatly under brutal Japanese colonial rule This is the ninth of a 10-part series of Korean history from its mythological, ancient beginning until the present day. This project is sponsored by several companies and public agencies including Merck Korea, eBay Korea, Daewoo Securities and Korea Post. ― ED. The first half of the […]
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