Chinese model and actor Zhang Liang expressed his condolances to the victims of Sewol disaster, saying he understood what it’s like to lose a loved one.“I offer condolences to the (victims of) the (ferry) disaster in Korea. I feel for them, as I have had the painful experience of losing my father as well,” the Chinese celebrity said at a press conference for SBS TV show “Doctor Stranger” on Tuesday.“I hope to visit Korean often,” Zhang added.Zhang will play the classmate of cold-natured elite su

A video footage that shows the sinking process of the Sewol was released on Youtube on Thursday.The brief, 46-second video clip shows a cracked smartphone screen playing footage, apparently recorded by a trapped passenger, showing the circumstances onboard the sinking ferry.The footage reveals the tilted interior of the vessel and the voices of the passengers. One of the passengers, allegedly the recorder of the footage, asks another female passenger “what time is it now?” But before she checks

The U.S. State Department and Chinese Foreign Ministry have offered condolences to the victims of the South Korean ferry disaster and the bereaved families.“We extend our deepest condolences to the loved ones of those who lost their lives on board the South Korean ferry, the Sewol,” Marie Harf, the U.S. State Department’s deputy spokeswoman, was quoted as saying at the start of a daily press briefing on Wednesday.The United States is willing to offer any assistance necessary for the search-and-r

[기사요약] 법인세 탈루 및 횡령 혐의로 항소심에서 징역 2년 6월에 집행유예 3년, 벌금 254억원을 선고 받은 허재호 전 대주그룹 회장. 벌금 낼 능력이 안 된다며 교도소 노역을 택했다. 25일부터 노역을 시작한 허 전 회장은 노역 일당을 5억으로 판결해준 항소심 재판부 덕분에 50일간의 노역으로 벌금을 대신하고 있다. 이 사건으로 인해 법조계의 지연 및 학연 문제, 그리고 교도소 노역의 규정에 대해 비판이 끊이지 않고 있다. 대법원은 뒤늦게야 환형유치 제도에 대한 개선 방안을 논의키로 했다.  Prison labor worth W500m a day? [1]The top court said on Tuesday that it is reviewing plans to revise policies on labor penalties as online critics lambaste its light sentence for a former business tyc

Park Hyun-nam, the first female branch head of a foreign investment bank in Korea, does not believe women should be confined to “gentle leadership.” In an interview with The Korea Herald, Park said she was given the job based on her superior work efficiency and also time management skills ― both essential for her as she juggles the multiple roles of a parent and businesswoman. Park took on the job as the co-branch manager of Deutsche Bank Korea in September 2013.She’s the first woman to fill the

Riders and horse dealers may argue about which was the most beautiful horse ever beheld by mankind. But for a 12-year-old sixth grader with a strained school life, who asked not to be named, no horse beats Heemang, her favorite riding mate. Heemang, which means “hope” in Korean, is one of the 15 riding horses being raised at the Riding Healing Center in Incheon, west of Seoul, established by the Korea Racing Authority.“I like Heemang the best; she is a good girl and does exactly what I tell her

GUNGPYEONG, Gyeonggi Province ― Five office workers saddled up, trotting on horses until they were sweating and out of breath.They were employees of Samsung Electronics, enjoying their weekly outing to Gungpyeong Camp, an equestrian club in Hwaseong, Gyeonggi Province.With the rising popularity of horseback riding, the camp served around 23,000 customers last year. “I resumed riding horses after a 10-year break, after I found out that my company had a horseback riding association organized by th

Kwon Seon-joo, the newly inaugurated female CEO of the state-run Industrial Bank of Korea, vowed Monday to “take all perseverance and tenacity to stand against outside influences.”“I will stand against the overwhelming change, the outside influence and challenges with perseverance and tenacity, in cooperation with labor union leader Hong Wan-yeop,” said the country’s first female bank chief. She did not elaborate on outside influences, but sources said she was referring to the political circle’s

KB Kookmin Bank’s PB Center in SeochoKB Kookmin Bank has remained unsurpassed in the country’s private banking field since 2002, thanks to its signature brand, GOLD&WISE, based on trust, professionalism and the needs of KB customers. With the nation’s largest private banking sales network and client base, GOLD&WISE has shown exceptional private banking products, risk management systems, private banking expertise, and advisory and marketing service. Using the vast network of KB Financial Group, t

The sale of Woori Investment & Securities is expected to reshape the landscape of the nation’s brokerage industry as chances are high that a minor player will take over the securities giant.On Tuesday, the government selected NongHyup Financial Group Inc. as the preferred bidder for three units of the state-run Woori Finance Holdings Co., the nation’s largest banking group in terms of assets.If NongHyup’s deal with Woori is successful, NH Investment & Securities Co., under NongHyup’s wing, will

Besides the first female president, Korea has seen another woman break through a glass ceiling, this time in the banking industry. Kwon Seon-joo, the senior executive vice president of the Industrial Bank of Korea, was named the next CEO of the state-run IBK on the approval of the Financial Services Commission on Monday. Before Kwon, no woman had been named CEO of a Korean bank. “We believe that Kwon is well qualified as the country’s first female bank CEO, which she has demonstrated through her

A senior fellow at the independent Asia Society said the Korean market had potential, with a better investment environment for foreigners in some areas than even Japan and China."I am a big believer in Korea, and always have been,” said Jamie Metzl, who was named the U.S. investment advisory ambassador at the New York office of the Korea Trade-Investment Promotion Agency. Korea’s current $1.5 million foreign direct investment, which accounts for only 1.3 percent of its gross domestic product, he

The nation’s financial watchdog said Sunday that it would launch a special probe into Standard Chartered Bank Korea and Citibank Korea early next year over their “lax internal controls.” The Financial Supervisory Service plans to look into the recent customer data leaks at the two foreign first-tier banks here, as well as restructuring and dividend payouts to shareholders abroad. The move came after the FSS found the two banks responsible for the country’s largest-ever bank customer data leak of

Korean companies’ contributions to local communities are being diversified into unprecedented forms of philanthropy in step with a fast-paced change in technology.The spectrum of philanthropic activities has widened from the simple and time-honored act of giving money or goods toward novel projects such as donating a power supply, funding social enterprises, and developing innovative electronic gadgets for the disabled.Recipients are also more specified. Companies’ pro bono programs have been fi

The Financial Supervisory Service has launched a probe into alleged accounting fraud by Daewoo Engineering & Construction Co., officials said Tuesday.The FSS said it opened the investigation after obtaining information on suspicions of window dressing by the country’s third-largest construction company.The builder’s stock price fell after the news of the probe launch, hitting 6,940 won per share, down 11.14 percent from the previous day. “The price is expected to continue to drop for the moment,

It was no surprise to those who know him when Richard Hill, CEO of Standard Chartered Bank Korea, was presented with Seoul Honorary Citizenship by the city government in October. He has made active social contributions to Korean society, and has helped enhance the city’s business environment and attract foreign investment.His six years in Korea with his family has been full of wonderful and unique experiences. Besides maintaining a strong work ethic, Hill said he has also made the most of the pa

Homeplus Co. was the largest donor to charity among foreign businesses operating in Korea in 2012 for the second consecutive year, according to an online corporate research firm on Monday.Data from Korea CXO Institute showed that Homeplus, a discount chain run by U.K.-based Tesco, donated 5.53 billion won ($5.26 million) in 2012 and 6.32 billion won in 2011 to charity, topping the research firm’s list of 50 companies with over 30 billion won in annual sales.These 50 foreign firms belong to vario

Six foreign-invested companies were recognized by the Korea Trade-Investment Promotion Agency on Thursday for their outstanding social contributions to the local community.The six awardees are DHL Korea, Wilo Pumps Ltd., FRL Korea, Pernod Ricard Korea, Renault Samsung Motors and L’Oreal Korea.DHL Korea won the top award for its global volunteer service and relief network. Wilo Pumps Korea won the honor for its dedication to the socioeconomically estranged seniors and orphans, and FRL Korea for d

Shinhan Financial Group chairman Han Dong-woo was reelected to serve his second term, the company said Thursday. The board members of the candidacy reviewing committee reached a consensus to make Han the sole candidate for another three-year chairmanship term, Shinhan said. Meeting with reporters, Han said he had multiple goals in mind to bring about “warm finance.”Regaining his chairmanship, Han is facing multiple challenges next year, including the M&A competition over Kwang Ju Bank, a regiona

The number of car accidents related to smartphones has doubled over the past three years with the rise in the use of mobile digital devices, according to a research institute.The Traffic Climate and Environment Research Center, a research unit of Hyundai Marine & Fire Insurance Co., said in a report it released Wednesday that the smartphone-related accident rate increased 1.9-fold from 437 in 2009 to 848 cases in 2012.The abrupt rise in such accidents is attributed to both phone calls and the us