Artillery shells uncovered at construction site

South Korea’s military searched a construction site Tuesday after a number of artillery shells were found there Monday. Construction workers at the site in Seoul’s southwestern Guro district first reported the discovery of objects underground, because they thought they had found explosives. Authorities identified them as blind artillery shells, presumably from the 1950-53 Korean War, noting they needed a more thought examination. By Choi Si-young (siyoungchoi@heraldcorp.com)

Social AffairsFeb. 11, 2020

Concept Korea New York Fashion Week F/W 2020 celebrates 10th anniversary

Concept Korea NYFW Fall-Winter 2020 commemorated its 10th anniversary on Friday in New York with three Korean standout designers who received favorable responses in previous seasons showcasing their latest collections. Concept Korea, which was held at Spring Studios Gallery in New York, is part of New York Fashion Week, which runs through Wednesday. The government-sponsored fashion show aims to help promising Korean designers expand overseas by providing opportunities to promote their brands

Arts & DesignFeb. 11, 2020

‘Parasite’ to show in more theaters worldwide after historic Oscars win

The hype around “Parasite” after it won four Oscars on Monday has led to more theaters in the US screening the movie. Director Bong Joon-ho’s “Parasite” won for best picture, director, international feature film and original screenplay on Monday. It was also nominated for best editing and production design. According to entertainment magazine Variety, Neon, the film’s North American distributer, will double the number of screens showing the movie from 1,0

FilmFeb. 11, 2020

NK needs $107m in humanitarian assistance: UN

The United Nations is seeking to raise $107 million in humanitarian aid for North Korea, where nearly half of the 25 million population are in need, the UN’s resident coordinator for Pyongyang said in a report released Monday. According to the report titled “Provisional 2020 DPR Korea Needs and Priorities Overview,” the funding target for this year is lower than the previous year’s $120 million. At the time, the UN managed to secure just 27 percent of the goal, or $32 mi

North KoreaFeb. 11, 2020

Largest Castiglioni exhibition in Asia at Seoul Arts Center

An exhibition that pays homage to Achille Castiglioni, a 20th-century Italian industrial designer, is currently running at the Seoul Arts Center. Titled “Achille Castiglioni and his Brothers,” it is the biggest of its kind in Asia. Born in 1918 in Milan, Achille Castiglioni started his career as an architect and a designer in 1944 at a studio run by his two older brothers, Livio and Pier Giacomo. After Livio’s departure, Achille and Pier Giacomo collaborated until the latter

Arts & DesignFeb. 11, 2020

FSC to have final say on FSS-Woori dispute

With the feud between the Financial Supervisory Service and Woori Financial Group over the latter’s leadership escalating, all eyes are on the final decision of regulator Financial Services Commission. The FSC’s advisory panel Securities and Futures Commission, in its biweekly meeting on Wednesday, will review the sanctions slapped on banking group chiefs over the misselling of derivative-linked fund products, officials said Tuesday. Late last month, the financial waatchdog decide

MarketFeb. 11, 2020

S. Korea to raise W31.5b fund to foster agricultural startups

SEJONG -- South Korea said Tuesday it plans to raise funds worth 31.5 billion won ($26.5 million) this year to foster startups in the agriculture and fisheries segment as part of its broader efforts to enhance the vitality of rural areas. The fund -- which will be raised jointly by the state and the private sector -- will center on supporting people seeking new business opportunities in farms and fishing towns, according to the Ministry of Agriculture, Food and Rural Affairs. The ministry sai

IndustryFeb. 11, 2020

Fewer students think Korean unification needed: survey

More students think the reunification of the two Koreas is unnecessary and the Korean Peninsula is not peaceful, a survey showed Tuesday, amid stalled progress in inter-Korean relations.  According to the survey by the Ministry of Education and the Ministry of Unification, 55.5 percent of the respondents said reunification of the Koreas was necessary, down 7.5 percentage points from a year earlier. Some 19.4 percent said reunification was unnecessary. The majority of the students who sai

Social AffairsFeb. 11, 2020

S. Korea expanding efforts to normalize supply chain amid coronavirus spread

South Korea said Tuesday it is making efforts to minimize the economic fallout of the new coronavirus as local manufacturers' production lines have been partially disrupted due to shortages of Chinese parts. "South Korea will continue to look closely at the global supply chain and help local industries better cope with external risks," Industry Minister Sung Yun-mo said in a meeting with local businesses. Production lines at China-based suppliers have been partially or fully shut do

EconomyFeb. 11, 2020

Coronavirus information center opens for foreigners

Seoul has launched an information and consulting center on the new coronavirus exclusively for foreigners, with translation services available in eight languages, the Seoul Metropolitan Government said Tuesday.  At the center, set up inside the Southwest Global Center in southwestern Seoul, those illegally staying in South Korea can receive help and medical treatment without worrying about being reported to immigration authorities, officials added. The Southwest Global Center, the city-a

Social AffairsFeb. 11, 2020

[Monitor] Overcrowded restaurant business still attracting new players

The already crowded restaurant business has continued to expand over the past several years, with restaurateurs accounting for 10 percent of all self-employed businesspeople, data from the Seoul Metropolitan Government showed. This means around 12,000 to 16,000 restaurants open each year. Of them, the greatest number, or 57,797 sell Korean dishes. Next most popular are fried chicken restaurants (5,413), Korean-Chinese restaurants (4,770) and Japanese restaurants (4,087). The number of restau

IndustryFeb. 11, 2020

Jeju Air logs operating loss in 2019

  Jeju Air, the country’s largest low-cost carrier by sales, said it recorded 1.38 trillion won ($1.1 billion) in sales last year, along with 32.9 billion won in operating loss and 34.1 billion won of net loss.  The air carrier said its 2019 sales improved by 9.9 percent, but the operating profit and yearly net profit both turned into the red. In the fourth quarter last year, its sales came to 309.4 billion won, also recording an operating loss at 45.1 billion won and net loss

MobilityFeb. 11, 2020

[Herald Interview] Jeon Do-yeon can now dream about an Oscar

Veteran actress Jeon Do-yeon and Jung Woo-sung came together for the first time in the upcoming film “Beasts Clawing at Straws.” The debut feature by director Kim Yong-hoon recently won the Special Jury Award of the Tiger Competition at the Rotterdam Film Festival. The crime noir revolves around eight desperate individuals who chase after a mysterious Louis Vuitton bag full of cash. Jeon plays Yeon-hee, a former bar owner, and Jung, corrupt customs officer Tae-young. Yeon-hee app

FilmFeb. 11, 2020

NPS posts highest return on investment since 2010

South Korea’s state pension fund National Pension Service said on Tuesday that it posted the highest return on investment in 10 years in 2019 largely due to the bullish stock markets here and abroad. The state-run pension fund marked an estimated rate of return of 11 percent last year, raking up a whopping 70 trillion won ($59 billion), according the NPS. The yield is the largest since 2010 when the fund operator marked 10.37 percent. In 2018, the NPS posted a negative yield of 0.

MarketFeb. 11, 2020

[Photo News] Coex launches 'mask united' campaign

Lee Dong-won (third from right, front row), CEO of the Convention and Exhibition Center, launches a “mask united” campaign with staff and executives amid the coronavirus outbreak, to contribute to the recovery of the Korean economy and ensure the safety of visitors at Coex in Gangnam-gu, Seoul, on Tuesday. (Yonhap) (khnews@heraldcorp.com)

IndustryFeb. 11, 2020

Trump uninterested in meeting Kim Jong-un before November election: report

US President Donald Trump told his foreign-policy advisers that he does not want another summit with North Korean leader Kim Jong-un before the presidential election in November, CNN reported Monday, citing two sources. 　 Denuclearization talks between the US and North Korea have been deadlocked since the Trump-Kim summit collapsed in Hanoi, Vietnam, last February. With Trump’s focus on winning reelection this year, his interest in engaging North Korea appears to have “waned,&rdquo

North KoreaFeb. 11, 2020

Hyundai Motor, US Energy Department join hands for hydrogen fuel cell tech

Hyundai Motor Group said Tuesday it has joined hands with the US Department of Energy to expand the use of hydrogen fuel cell technology globally and innovate further.  The company said it has signed a memorandum of understanding with the department in Washington, DC. Hyundai Motor Group’s Executive Vice Chairman Chung Euisun met with US Secretary of Energy Mark W. Menezes to exchange their vision and direction for the future hydrogen society, the company added.  “We ex

MobilityFeb. 11, 2020

S. Korea expands strict quarantine screenings to Hong Kong, Macao

South Korea said Tuesday it will apply strict quarantine screening to entrants from Hong Kong and Macao, in addition to those who arrive from mainland China. Currently, entrants from China are asked to fill out health questionnaires to check whether they have fever or respiratory problems. Foreigners are required to write a special quarantine report, providing their mobile phone numbers and domestic stay addresses and disclosing any visit to Hubei Province -- the epicenter of the global outb

Foreign AffairsFeb. 11, 2020

Seoul focuses on reducing ultrafine dust this year

The Environment Ministry said Tuesday it will make all-out efforts to reduce the country’s annual average ultrafine dust level to 20 micrograms per cubic meter this year, down from 23 micrograms in 2019. In its annual policy briefing to President Moon Jae-in, the ministry said that in addition to stronger emission control on factories, owners of old, high-emission diesel cars will be given subsidies to scrap their vehicles. The government said it will also offer increased subsidies for

Social AffairsFeb. 11, 2020

Household debt growth sharply decelerates in Jan.

The household debt extended by banks in South Korea slowed sharply in January from a month earlier due to a seasonal factor, central bank data showed Tuesday. Fresh bank loans extended by banks to local households came to 3.7 trillion won ($3.1 billion) in the month, compared with a 7.2 trillion won increase the previous month, according to the data from the Bank of Korea. The amount marks a sharp rise from a 1.1 trillion won increase in the same month last year, however. "The rate of i

EconomyFeb. 11, 2020