Articles by Im Eun-byel
Im Eun-byel
silverstar@heraldcorp.com-
Big firms hold back on investment plans for 2023: survey
Nearly half of the nation's top 500 companies by sales have yet to come up with investment plans for next year, amid recession fears on more rate hikes and a strong US dollar, a survey showed Monday. The Federation of Korean Industries business lobby conducted the survey from Nov. 17-25. According to the survey, 10 percent of responding companies said they have no investment plans next year, while another 38 percent said they have yet to come up with concrete plans. Fifty-two percent said t
Industry Dec. 5, 2022
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How wealthy is 'wealthy' in Korea?
Wealthy Koreans with seed money of 820 million won ($630,000) by the age of 42 was determined as the minimum condition of "being wealthy" here, a report showed Sunday. The 2022 Korean Wealth Report compiled by a think tank under KB Financial Group was based on a study conducted in June and July, including a face-to-face survey with 400 respondents with more than 1 billion won in financial assets. It defined “wealthy” as having financial assets over 1 billion won. There were
Market Dec. 4, 2022
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[Weekender] A year without hagwon, away from concrete jungle
Childhood is no longer filled with dreams. Instead it is beset by competition, pressure and anxiety, as more children are exposed to an overheated education environment from an early age. But some students and their families are taking a step away from the heat, traveling south for a sabbatical at a countryside school. The Seoul Metropolitan Office of Education, in charge of the primary and secondary education of the capital city, has been encouraging students to try out a school life in the cou
Social Affairs Dec. 3, 2022
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Korean won strengthens after US Fed hints at smaller rate hike
The South Korean won rose to a four-month high on Thursday, as the US Federal Reserve hinted at a possible slowdown of its aggressive rate hikes. The Korean currency strengthened to 1,299.7 won against the greenback as of closing time, back below 1,300 won for the first time in four months. “The time for moderating the pace of rate increases may come as soon as the December meeting,” Federal Reserve Chair Jerome Powell said Wednesday at an economic forum. The Fed has hiked interest r
Market Dec. 1, 2022
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Foreign investors snap up tech shares
Foreign investors purchased a net of more than 6 trillion won ($4.5 billion) worth of shares on South Korea's stock market in October and November as they picked up chips and other related tech shares, the Korea Exchange's data showed Wednesday. According to the securities exchange operator, foreign investors purchased net 6.78 trillion-won worth of shares on the benchmark Kospi from Oct. 1 to Nov. 29, while they sold 30 billion won on Kosdaq. The Kospi purchase was heavily focused on
Economy Nov. 30, 2022
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KITA hosts trade fair to boost growth
The Korea International Trade Association is hosting a two-day trade fair from Tuesday to help local companies form international partnerships with global buyers. The 2022 Korea Grand Sourcing Fair, a hybrid event held both online and offline, is taking place at the Coex Convention and Exhibition Center in southern Seoul with 211 buyers from 36 nations and around 750 Korean companies participating. Held after the COVID-19 pandemic-related travel restrictions were eased, this year’s lineup
Industry Nov. 29, 2022
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Yoon to announce road map for space economy Monday
President Yoon Suk-yeol will announce the road map for a "space economy" on Monday which includes a plan to launch a space agency by next year, the presidential office said Sunday. "President Yoon will announce the road map for a future space economy tomorrow, including six state agendas for Korea to become a powerful nation of space economy," Lee Jae-myung, a deputy presidential office spokesperson, said at a briefing held at the presidential office in Yongsan. Lee also said
Politics Nov. 27, 2022
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Koreans eat less carbs, more protein: report
Over the years, the average energy intake of Koreans has been on a decrease. While the consumption of carbohydrates has dropped, protein consumption has increased with changes in dietary habits. According to the Korea National Health and Nutrition Examination Survey published by the Korea Disease Control and Prevention Agency, the average energy intake by Koreans per day was 2,129 kcal for men and 1,576 kcal for women in 2021. The numbers have been on a consecutive decline since 2015. Koreans ar
Social Affairs Nov. 27, 2022
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COVID-19 restrictions, financial problems lead students to overstay visas
A significant number of foreign students who come to Korea to study stay in the country after their visa expires, a report showed. The Education Ministry deemed the COVID-19 pandemic as the main reason why. According to a monthly report released by the Korea Immigration Service, the number of foreign students staying in Korea with a D-2 student visa, which guarantees a three-year stay, was 137,779 as of October. This is 19,881 students more than the year before. Those staying in Korea with a D-4
Social Affairs Nov. 24, 2022
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The last straw? Korea extends restrictions on single-use items
From Thursday, the government will expand its ban on single-use merchandise with a yearlong grace period, adding plastic bags, straws, stir sticks and more to its list of restricted items. Single-use plastic bags will be banned from retail stores including convenience stores and bakeries. The ban, previously applicable to large stores with a floor space of 3,000 square meters or more and supermarkets with a 165 square meters of floor space or more, will be expanded to more retail stores. Though
Social Affairs Nov. 23, 2022
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Interior Ministry insists it is 'not responsible' for Itaewon tragedy
The Interior Ministry claimed it does not hold responsibility over the Itaewon tragedy, following criticism the ministry was at the center of control for police response to the incident. The ministry issued an official statement Monday claiming the police bureau did not have authority to intervene in police operations, except at an organizational level. And so the police bureau, as a separate organization from police administration, was not relevant to the police’s response. The police bur
Social Affairs Nov. 22, 2022
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Itaewon probe questions ex-Yongsan police chief, fire chief
The special investigation team set up by the National Police Agency to look into the crowd crush in Itaewon summoned Lee Im-jae, then-chief of the Yongsan Police Station, and Yongsan Fire Chief Choi Seong-beom for questioning, Monday. Lee and Choi have been named as suspects regarding their response to the tragedy. "I am sorry and once again sorry as a police station chief. I will live with guilt for the rest of my life," Lee said as he showed up for questioning at the Seoul Metropolit
Social Affairs Nov. 21, 2022
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Neighbor found guilty of child abuse in noise dispute
The Supreme Court upheld the lower courts' ruling that found a person guilty of child abuse for their threatening behavior around their neighbor's children during a noise dispute. The person was sentenced to a six-month prison term, suspended for one year, 80 hours of social service, and 40 hours of education on child abuse prevention. On April 10, 2020, the person scolded the neighbor's 4-year-old child up close, asking "Why are you so loud these days? You run around a lot
Social Affairs Nov. 18, 2022
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Interior minister says reform plan on safety control measure on the way
A comprehensive plan to reform the safety control measures of the Korean government will be announced by the end of the year, Interior Minister Lee Sang-min said Friday. "The government is concentrating its capability on damage control, investigating the causes and response related to the accident, while preparing prevention measures," Lee said at meeting held to discuss reform measures of the state's disaster and safety controls. “The government is also making efforts on al
Social Affairs Nov. 18, 2022
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Yoon says banning MBC reporters from Air Force 1 was to ‘protect Constitution’
President Yoon Suk-yeol said Friday that banning MBC reporters from the presidential plane departing for the summits of the Association of Southeast Asian Nations and Group of 20 was an act to “protect the Constitution.” The presidential office told MBC reporters they would not be allowed to board the presidential plane on Nov. 9, two days before Yoon embarked on his six-day trip to Cambodia and Indonesia. When asked by a reporter on the matter while heading to the presidential offic
Politics Nov. 18, 2022
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