FSC, Seoul City join hands to cultivate fintech specialists

A graduate school aimed at nurturing digital finance specialists will be launched in Seoul’s financial district of Yeouido in September, in a joint project between the Financial Services Commission and the city government, officials said Wednesday. Stressing that the financial service sector is going through a major transformation with information technology, the two will fund 19 billion won ($16.1 million) for the project that is designed to provide a two-year graduate and six-month non

EconomyFeb. 12, 2020

Mercedes-Benz launches first A-Class sedan in Korea

Mercedes-Benz Korea on Wednesday began sales of the first sedan in its A-Class lineup -- unveiled during the Paris Motor Show in 2018 -- and also launched its second-generation premium coupe sedan, the new CLA 250 4matic.  Until now, the automaker sold only hatchback A-Class models, and said it has introduced the first sedan model to the lineup to expand its premium sedan range, which comprises C-Class, E-Class, CLS and S-Class.  The new A-Class lineup includes two models -- A 220 s

MobilityFeb. 12, 2020

Trump to promote No. 2 nuclear envoy to UN post

US President Donald Trump plans to nominate Alex Wong, deputy special representative for North Korea, to an ambassador-level post at the United Nations, the White House announced Tuesday. 　 Wong, the No. 2 man in US talks with North Korea, has been tapped to serve as the US alternative representative for special political affairs in the UN. He will also serve as an alternate US representative to the UN General Assembly. 　 The new post requires Senate confirmation, and the process could take m

North KoreaFeb. 12, 2020

NH Financial to expand global assets fivefold in 5 years

NH Financial Group, a major Korean banking group, vowed Wednesday to increase its global assets by nearly five times to 6 trillion won ($5.1 billion) by 2025, as part of its new global expansion strategy. According to the financial giant, its overseas assets stood at nearly 1.4 trillion won as of the end of December. It also plans to increase its net profit to 160 billion won in the same period, which came to 28.9 billion won as of December. NH Financial said it would expand its overseas

MarketFeb. 12, 2020

‘Parasite’ team returns home in Oscar glory

The cast members of “Parasite” returned to Korea early Wednesday morning, two days after they were honored at the 92nd Academy Awards with historic four wins. The “Parasite” cast, including Song Kang-ho, Choi Woo-shik and Park So-dam, arrived at Incheon International Airport, along with the film’s producer Kawk Sin-ae, screenwriter Han Jin-won, film editor Yang Jin-mo and production designer Lee Ha-jun. As the party passed through the airport doors, cheers and ap

FilmFeb. 12, 2020

Riot Games Korea gives accumulated total of W6b for cultural artifact preservation

Riot Games Korea announced Wednesday it will continue its corporate social responsibility program of cultural artifacts preservation and that it donated an additional 800 million won ($677,000) this year to the Cultural Heritage Administration. The Korean arm of the US-based game company has collaborated with the Cultural Heritage Administration since end-2011 to reclaim artifacts that were once lost but found in overseas locations. So far, Riot Games Korea has donated a total of over 6 bill

IndustryFeb. 12, 2020

Hanhwa’s Lifeplus brand wins iF design awards

Lifeplus, a joint brand of South Korean conglomerate Hanhwa Group’s financial businesses, bagged two awards at the world’s prestigious International Forum Design Award 2020, according to Hanhwa Life, an insurance firm and a key subsidiary, on Wednesday. The brand, launched in 2017 for the conglomerate’s financial units -- including life insurance, general insurance, stock brokerage and asset management -- won the awards in the two categories of communication design a

MarketFeb. 12, 2020

Cheong Wa Dae names new deputy spokesperson

President Moon Jae-in has appointed a Cheong Wa Dae staffer, Yoon Jae-kwan, as his new deputy spokesperson, Moon's office announced Wednesday. Yoon, deputy secretary at the office for public relations planning, is filling the post that has been vacant since Han Jung-woo was tapped as director of the Chunchugwan press center of Cheong Wa Dae earlier this month. It is part of a reshuffle in the lineup of Moon's public communication team following Ko Min-jung's departure from the spokesperson jo

PoliticsFeb. 12, 2020

[팟캐스트] (339) ‘기생충’ 아카데미 작품상 수상 / 트랜스젠더 학생 여대 입학 취소

진행자: 임현수, Paul Kerry 1.‘Parasite’ wins best picture at Oscars 아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2 팟빵 (안드로이드): http://www.podbbang.com/ch/6638 [1] Korean satirical-thriller “Parasite” won best picture at the Oscars on Sunday, making history in its home country and the international film scene. *make history: 역사를 만들다 *satirical: 풍자적인 [2] Director-producer Bong Joon-ho shared the honor with co-producer Kwak Sin-a

PodcastFeb. 12, 2020

Busan to inject W205.6b to boost tech hub

Busan Metropolitan City said on Wednesday it plans to inject a total of 205.6 billion won ($174.4 million) this year to launch a new technology hub in South Korea’s second-largest city and back the startup ecosystem in line with the nationwide venture boom. The fund is a combination of the state-budget of 82.7 billion won, 84.3 billion won from the private sector and the rest coming from Busan. It is meant to finance early-stage startups to help them overcome the negative cash flow at it

MarketFeb. 12, 2020

Applications for Techstars Korea’s first batch to close March 1

Techstars Korea, a South Korean unit of Colorado-based global startup accelerator Techstars, said Wednesday applications for its first accelerating program in the nation will close on March 1. The first batch of Techstars Korea, composed of 10 startups, will take part in a 13-week accelerating program in tech hub Pangyo starting June, along with mentorship and a combined $120,000 seed funding. Techstars has joined hands with Hillstone Partners for the program. Startups adept at lifestyle tec

MarketFeb. 12, 2020

African cocoa cartel’s price hike stirs up Korean chocolate makers

South Korean chocolate manufacturers are holding their breath as the world’s top two cocoa producers have decided to charge a fixed premium on their produce. Last July, the West African nations of Cote d’Ivoire and Ghana -- which command more than 60 percent of global cocoa production -- announced a $400 premium over the futures price of every metric ton of cocoa from October 2020. Though the “living income differential,” or LID, premium aims to provide higher and st

IndustryFeb. 12, 2020

Samsung is ready to ‘fold more’: president

SAN FRANCISCO -- For Samsung Electronics, which already offers two foldable smartphone models, it is no longer a challenge to make a phone that folds even more. The South Korean tech titan, rather, is mulling how the folding experience brings value to consumers, said Roh Tae-moon, president and head of Samsung’s mobile division, during a press conference in San Francisco on Tuesday. “Technologically, we are capable of designing phones that fold even more times, but what’s

TechnologyFeb. 12, 2020

'Parasite' jumps to No. 4 at North American box office after Oscar wins

South Korean film "Parasite" soared to No. 4 at the North American box office after its Oscar victories, data has shown. According to Box Office Mojo, a box office revenue tracker, the black comedy was the fourth most sold title as of Monday (US time), sharply up from its 12th rank a day earlier. The box office ascent came one day after "Parasite" picked up four awards, including best picture, at the 92nd Academy Awards held in Los Angeles on Sunday. The Korean film bec

FilmFeb. 12, 2020

US vows ‘flexible approach’ on NK

The US State Department said it is willing to take a “flexible approach” on negotiations with North Korea, the Voice of America reported on Wednesday. “We are willing to take a flexible approach to reach a balanced agreement on all the Singapore summit commitments,” a member of the US State Department spokesperson’s office was quoted as saying by the US broadcaster. According to VOA, the official made the comments while explaining the department’s position

North KoreaFeb. 12, 2020

KAI joins Singapore Airshow to showcase high-tech aircraft

Korea Aerospace Industries said Thursday it is participating in the Singapore Airshow 2020 to showcase a variety of high-tech aircraft. The Singapore Airshow, which kicked off Tuesday, is one of the world’s three largest air shows, along with the Paris Airshow and Farnborough Airshow. During the six-day event, KAI presents various aircraft, including light combat aircraft FA-50, basic training aircraft KT-1 and transport utility helicopter Suorin. It also displays high-tech aircraft i

IndustryFeb. 12, 2020

British rap duo help students unlock inner creativity

In an hourlong workshop, ninth grade students were tasked to write a piece about the things they loved or hated and perform it. They wrote about family, the new coronavirus and TikTok. Students from Dulwich College in Seoul participated in a session run by Mark Grist and MC Mixy, a poetry and rap duo from Peterborough, England, also known as the Dead Poets. The workshop was the last in the duo’s Asian tour. For 10 years the Dead Poets have toured the world, holding workshops like this

CultureFeb. 12, 2020

Two seriously injured after violent scuffle at Yeouido restaurant

A scuffle occurred at a restaurant in the financial district of Yeouido in Seoul Wednesday, seriously injuring two people, police said. Police and firefighters were dispatched to the underground eatery of a securities company in Yeouido on reports that one employee stabbed another with a knife at around 9:15 a.m. A woman in her 60s, presumed to be a suspect, was found unconsciousin the vicinity of the scene after fleeing. Police said she appears to have attempted to kill herself. A man in hi

Social AffairsFeb. 12, 2020

Fitch affirms S. Korea's credit rating at 'AA-'; outlook stable

SEJONG -- Global credit appraiser Fitch Ratings said Wednesday it has kept South Korea's foreign currency credit ratings unchanged at "AA-" with a stable outlook. Fitch's rating for South Korea has been AA-, the fourth-highest level on its sovereign ratings table, since 2012, when the rating agency upgraded it from A+. "Korea's rating balances robust external finances, steady macroeconomic performance, and a record of sound fiscal management against evolving geopolitical risks

EconomyFeb. 12, 2020