With loosened lending rules expiring at the end of July, the new liberal Moon Jae-in government is reviewing whether to tighten them again, amid persistently rising home prices in Seoul.In August 2014, the Park Geun-hye administration allowed households to easily borrow money by raising the cap ratios of debt-to-income and loan-to-value to 60 percent and 70 percent, from 50-60 percent, respectively. The deregulatory moves, blamed for snowballing household debt and real estate speculation in sout

Initial talks about cutting the retail prices of smartphones and mobile bills are underway under the administration of Moon Jae-in, who pledged to make mobile costs more affordable, industry sources said Tuesday. LG Electronics said it had submitted its opinion to the Korea Communications Commission in late May on regulations for device makers and mobile carriers to help uncover illicit retail practices.  (Yonhap)“The company gave the opinion at the request of the KCC that is currently collectin

Hyundai Motor has hired Simon Loasby, head designer of Volkswagen Group China, to lead its design team in China, the company said Tuesday.Loasby will become the head of Hyundai China Design in Hyundai Motor’s Technology and Engineering Center in the Chinese northeastern coastal city of Yantai later this month.Hiring the British designer, who worked in China for nearly 10 years, was seen as the South Korean carmaker seeking a breakthrough in its declining sales in the neighboring country.  Simon

The Korea Herald is introducing Korean singers, musicians and actors poised to join the next wave of top stars in a twice monthly series. -- Ed.Fans of OOHYO have something to be excited about this year as the singer, who remains a mysterious figure in the Korean indie scene, is expected to finish up her studies in England this summer and return to Korea to focus on music. 　 OOHYO (MUNHWAIN)“(M)y goal this year is to put together a new album, write lots of new, better sounding songs and to reall

Donald Trump’s re-election chances are not about to tick this way or that because of his decision to exit the Paris climate accord. Yes, environmentalism of all kinds polls very well among the population at large, while mainstream conservative Republicans are strongly opposed to this particular treaty. But it seems unlikely that this issue has the power to shift votes from one side to another. Few issues do. As political scientist Phil Klinkner tweets, most voters will evaluate Trump’s decision

Remember when US presidents were called the “leader of the free world”?That phrase became something of a Cold War relic after the Soviet Union collapsed. But it has new relevance now that Russia is trying to undermine Western democracies and institutions.Today, the term free world refers to the community of nations committed to democratic values of pluralism and tolerance, in contrast to the authoritarian model being promoted by Moscow and Beijing as a better political option.Yet President Trump

There is a myriad of policy challenges to be tackled by the new Moon Jae-in administration: revitalizing the slowing Korean economy; narrowing the growing income gap; and addressing other chronic issues, such as the nation’s low birthrate. The previous administration was not sitting on its hands, but it failed to achieve much, since it stuck to the same old policies and failed to catch up with changing economic environment.　 A prime example is the industrial policy. More than a decade ago, exper

South Korea’s three major local broadcasters -- MBC, KBS and SBS -- started ultrahigh-definition broadcasting for the region in and around Seoul last week.UHD broadcasts provide four times the resolution of current high-definition broadcasts, officials said. Viewers can also use Internet Protocol-based services when they connect their TVs to the internet.However, they have to purchase a separate set-top box as UHD TVs manufactured by local TV makers have so far been based on the DVB-T2 broadcast

Hyundai Motor and Kia Motors saw a boost in their sales of eco-friendly cars, with their combined sales reaching over 500,000 vehicles worldwide, the companies said Monday. An accumulated total of 514,759 hybrid cars, including plug-in hybrids, were sold from 2009, when Hyundai rolled out its first hybrid model, until last month, data from the company showed.A hybrid car runs on both a combustion engine and a battery electric drive system, emitting less pollutants than a conventional car. It ten

Samsung Electronics and Korea Electric Power Corp. will launch a pilot project for a joint business on the Internet of Things, the companies announced Monday. From next month, Kepco will apply an automatic energy management system to Samsung’s wind-free air conditioner and T9000 refrigerator, which will help cut energy use during peak periods.  A model stands next to the Samsung T9000 refrigerator and wind-free air conditioner at a Samsung store in Seoul. (Samsung Electronics)The Samsung air con

Deputy Minister for Defense Policy Wee Seung-ho will be excluded from duty for his part in withholding THAAD-related information from the presidential office, Cheong Wa Dae announced Monday. According to Cheong Wa Dae, Wee ordered the fact that four THAAD launchers were in store at a US military base in South Korea to be removed from the Ministry of National Defense’s report to the presidential transition team on May 25. For his role, Wee will be excluded from his official duties.Deputy Minister