China is the world‘s largest holder of foreign exchange reserves. It has over 2 1/2 times more foreign reserves than the second-largest reserve holder, Japan.The Asian giant has $3.483 trillion in foreign exchange reserves, despite a recent drop. China is followed by Japan, with a substantial $1.21 trillion worth of foreign exchange.South Korea and India also have a large pie of the foreign exchange. In South Korea, the foreign exchange reserve is $370 billion, while India holds $361 billion wor

This could be on a bit of a personal level, but I also believe many Koreans face similar factors of stress on a daily basis, so here goes.One question, or rather, one suggestion I get quite frequently is, “Why don’t you have a girl?” I have a son, my only child, and apparently to many it looks like a long and lonely road stretches ahead for me. I admit, for a while -- at least six months in my life -- I did seriously contemplate having another child, and also lamented my lack of a daughter. One

The government on Wednesday unveiled its plan to impose higher taxes on rich individuals and large businesses, seeking to fund President Moon Jae-in’s plans to boost employment and to support small-sized businesses.“We have decided that an adjustment in tax rates is needed to secure the nation’s tax revenues,” Deputy Prime Minister for economic affairs and Finance Minister Kim Dong-yeon said in a ministry-led taxing policy meeting Wednesday.But considering financial circu

Conservative opposition parties are turning up the heat on President Moon Jae-in, attacking the administration’s North Korean policies and accusing him of complacency on security issues. On Wednesday, the floor leader of the minor conservative Bareun Party, Rep. Joo Ho-young, urged Moon to cut his vacation short, saying that the international community is leaving Seoul out in dealing with North Korea.  Bareun Party Rep. Joo Ho-young (Yonhap)“(The current situation) is the worst security crisis s

President Moon Jae-in’s income-led growth policy risks derailing efforts to accelerate structural reforms and encourage industrial innovation, economists say.His economic policy directions, which were unveiled last week, barely address the two tasks, seen as crucial to boosting the country’s long-term growth potential.Korea’s manufacturing industries have been faltering in recent years, except for a few bright spots such as the semiconductor sector. Local manufacturers ran

A report by KB Financial Group’s research center showed that the number of those in South Korea with assets worth 1 billion won or more reached 242,000 at the end of last year, up by 14.8 percent from the previous year.

The number of newborns in South Korea is expected to be around 360,000 for 2017, marking a record low, according to the Health Ministry and National Statistical Office. The figure is 12.4 percent lower than the previous year. The last time it increased was in November 2015, data showed. Experts said the number will further decrease down the road. The country’s average number of newborns hovered at around 1 million in the 1970s, but quickly fell to reach 490,000 in 2002.

SK Innovation, the owner of South Korea’s biggest oil refiner, has reorganized its offices to push forward the company’s new portfolio of battery and chemical businesses, it said Tuesday.The company has put the battery unit and its R&D lab under the direct supervision of its CEO Kim Jun, as well as material and component development for rechargeable batteries.The newly launched battery unit will lead the company’s overall marketing strategies and expand its R&D capacities on battery development.

LS Cable & System, a Korean cable manufacturer, has signed a 219 billion won ($195.6 million) contract with the Qatari government to supply high voltage cables to the Middle Eastern country.The deal is the largest won by a South Korean cable company in the Middle East, making LS the No. 1 cable supplier to the region, said the firm.  (LS Cable)The company will handle 70 percent of the country’s demand for cables ranging from 132 kilovolts to 400 kilovolts.The deal came as the Qatari government i

South Korea continued to see brisk exports last month, backed by a rise in oil prices, recovering global trade and a rise in shipments of semiconductors, data from the Ministry of Trade, Industry and Energy and Korea International Trade Association showed Tuesday.Exports climbed 19.5 percent on-year in July, continuing its rise for nine consecutive months and posting double-digit growth for seven straight months. Outbound shipments reached $48.85 billion, up from $40.88 billion a year ago. Trade

Samsung Electronics’ home appliance business remains upbeat in Southeast Asia, with the recent expansion of its supply of system air conditioners to local companies there, the company said Tuesday. The South Korean electronics maker said it received additional orders for its 360 Bladeless Cassette, a circular-shaped air conditioning system for commercial areas, including a zoo in Singapore and 18 branches of The Coffee Bean & Tea Leaf in Manila.  A 360 Bladeless Cassette air conditioning system

Bronze statues of little girls symbolizing wartime sex slaves during Japanese colonial era are multiplying across South Korea, as the historic issue, a long-standing thorn in Seoul-Tokyo relations, remains unsolved more than half a century on. A miniature “comfort woman” statue inside a high school classroom in Incheon. (Okyrun Girls’ High School)South Korean activists and supporters try to ensure, with the statues, that Japan’s World War II sexual enslavement of an estimated 200,000 mostly Kore

Tesla's first mass market Model 3 sedans. (Tesla)Tesla, the US-based electric car maker, delivered the first 30 units of its mass market Model 3 sedans last week, with deliveries to Korean motorists expected to begin around the end of next year, the company said Tuesday.The time frame for deliveries to Korean drivers is based on Tesla’s schedule to start deliveries of Model 3 sedans that place the steering wheel on the left side in the second half of 2018 for Korea and other markets, an official