While South Korea's economy appears to sustain growth thanks to robust exports of a few big-ticket items, a slew of statistics released in recent weeks points to a deepening slump in domestic consumption. Against this backdrop, policy authorities seem to lack both the will and the tools to change course. Statistics Korea’s retail sales index fell 2.9 percent in volume terms during the second quarter of this year compared to the same period in 2023, marking the worst drop in 15 years s

By Lee Seong-woo Vice president, Korea Chamber of Commerce and Industry "I'll keep changing it for you." This tagline from a global shopping website's free return policy ad recently stirred up controversy here. Despite receiving a warning from the government for its misleading ad, the e-commerce platform managed to climb to second place among the country's most popular shopping apps. But this surge in overseas direct purchases is not all rosy -- it in fact comes

President Yoon Suk Yeol on Friday vetoed two controversial bills designed to strengthen workers' rights and distribute cash payments to the entire population. One of the bills, known as the "Yellow Envelope Bill," aims to restrict companies from seeking damages against workers involved in legitimate labor disputes, as well as requires contracting employers to respond to requests for collective bargaining by subcontractor labor unions. The other bill proposes distributing cash pa

Does anybody remember the mad cow disease scare that rocked all of South Korean society 16 years ago? According to the theory, people were supposed to have melted brains if they eat US beef. Massive anti-US beef protests paralyzed downtown Seoul for weeks, crippling the administration of President Lee Myung-bak that tried to assuage the concern with scientific evidence. Fortunately, nobody I know of has died of the disease and people around me very much enjoy US beef now that is cheaper than han

Samsung Electronics said Thursday its artificial intelligence-powered home appliances hit 1.5 million unit sales in the January-July period this year. The Bespoke AI Combo washer-dryer and the Bespoke AI Steam robot cleaner were the two top sellers driving up overall sales. (Samsung Electronics)

Media art walls, featuring LG Electronics' latest OLED TVs, are displayed at a shopping center in Vietnam on Wednesday. The media art, themed on intelligence and freedom, is a creation by prominent Vietnamese artist group Fustic Studio. The exhibition comes as part of the Korean tech giant's premium marketing push in Southeast Asia. (LG Electronics)

It’s a balmy afternoon sometime in 2010, and you and 40 co-workers are gathered at a scenic park on the eastern outskirts of Seoul getting ready to shoot Scene No. 45 of episode 12 of a highly-rated television drama. Despite the tranquil appearance, there is a small and pressing problem: Episode 12 is scheduled to air later tonight. The director of photography (DP) is desperately staring up at the sky; if they don’t finish shooting in the next 45 minutes, they will lose the sun to

As we commemorate the 77th anniversary of Independence Day for India, I extend my heartfelt greetings to all fellow citizens, the vibrant Indian diaspora in the Republic of Korea, and our esteemed Korean friends. This day also marks the 79th anniversary of Liberation Day for Korea, and I wish its people and government continued success, good health and prosperity. Over the years, the ROK has achieved impressive success across all fields of human endeavor, particularly advanced manufacturing, t

2) 파트 5 3문제 1. A representative of the firm spent the morning ------- for better wholesale prices with a raw materials supplier. (A) negotiate (B) negotiates (C) negotiating (D) negotiated 해석 그 회사의 대표자는 원재료 공급자와 더 좋은 도매가격을 협상하는 데에 오전을 보냈다. 해설 관용 표현 채우기 문제 ‘그 회사의 대표자는 더 좋은 도매가격을 협상하는 데에 오전을 보냈다’라는 의미가 되어야 하므로 ‘~하는 데 시간을 쓰다’라는 의미의 관용 표현 ‘spend + 시간/돈 + -ing’를 완성하는 (C) negotiating이 정답이다. 어휘 representative 대표자, 대리인 wholesale 도매의, 대량 판매의 raw material 원재료,

In my last essay for The Korea Herald, I introduced the idea of the "Paradox on the Han River." To understand South Korea today, one must squarely face two contradictory realities. One is of incredible success, a rag-to-riches story with global brands, an addictive K-culture and a rising power at the Olympics. Political progress followed this success. Korea is a rare nation in the modern era with a conviction around constitutional democracy. At the same time, Korea’s youth is cha

The 2024 Summer Olympics in Paris wrapped up a 17-day run with a dazzling closing ceremony on Sunday. Although the South Korean team participated in the event with its smallest number of athletes since 1976, it exceeded expectations by winning 32 medals, including 13 gold medals. In the overall medal standings, South Korea ranked eighth, placing itself among the ranks of France, the Netherlands, the United Kingdom, Italy and Germany as one of the top 10 sports powers. It may look natural now to

Daewoo Construction & Engineering employees join a house repair project for descendants of the nation’s independence fighters in Cheonan, South Chungcheong Province, Tuesday. In partnership with Korea Habitat, the builder has completed a total of 21 housing projects since 2021. (Daewoo E&C)