Posco to donate A$500,000 for Australian bushfire relief

South Korea’s leading steelmaker Posco will donate 500,000 Australian dollars ($347,000) for Australian bushfire relief via its regional corporation there, the company said Tuesday. According to Posco, the relief fund will be delivered to the Australian Red Cross after the decision passes at its Australian corporate board of directors meeting.  “We wish to help relief of the disastrous bushfire and share the burden with Australians,” Posco Chairman Choi Jeong-woo said. Sin

IndustryJan. 7, 2020

How X1's promising career came to an abrupt end

Fans were shocked Monday night to learn that project boy band X1 was disbanding."We negotiated with the agencies representing each member of X1 on terms of unanimous agreement but failed to reach an agreement and decided to disband (the group),” the agencies said in a joint statement after the talks fell through.The decision came months after the vote-rigging scandal surrounding the “Produce” series forced the musicians from X1 and Iz*One to put their careers on hold, leav

K-popJan. 7, 2020

Super Junior to release 9th full-length album

K-pop boy band Super Junior's new album will hit the music scene this month, the finale of the band's time-themed album trilogy, the band's management agency said Tuesday. The upcoming album, "Timeless," scheduled for release on Jan. 28, is Super Junior's ninth full-length repackage album, according to Label SJ.  The album is the third in its album series inspired by time, following the first, "Time Slip," released in October and "Time Line" released in Novembe

PerformanceJan. 7, 2020

Net assets of ETFs jump 26% in 2019: data

South Korea's exchange traded fund market posted solid growth last year, with net assets of ETFs surpassing 50 trillion won ($42.9 billion) for the first time, the bourse operator said Tuesday.The net asset value of the country's ETFs increased 26.1 percent last year from a year earlier to amount to 51.7 trillion won, according to the Korea Exchange .Representing a basket of stocks that reflect an index, an ETF can be traded on stock exchanges, allowing more flexibility in making investments and

EconomyJan. 7, 2020

[CES 2020] LG Display CEO vows to expand OLED supplies beyond TVs

LAS VEGAS -- Jeong Ho-young, chief executive officer of LG Display -- the world’s largest organic light-emitting diode panel maker -- vowed Monday to put the money-losing company back on track by expanding supplies of OLED panels to growing markets such as transportation and interior. During a press conference held ahead of the opening of the Consumer Electronics Show in Las Vegas, Jeong revealed his target figures for improving the company’s financial status and plans to expand sale

TechnologyJan. 7, 2020

[Newsmaker] Former Blue House officials race to enter general elections

Individuals who served in President Moon Jae-in’s Cheong Wa Dae are entering the general elections in droves, fanning both criticism and expectations in the political arena. According to the ruling Democratic Party, about 60 individuals who have held Cheong Wa Dae posts at various levels have informed the party of their intentions to run in the April 15 general elections. Although not all of them will get party nominations, the number of Cheong Wa Dae-linked hopefuls amounts to a fifth of

PoliticsJan. 7, 2020

[CES 2020] LG Electronics envisions AI that can reason

LAS VEGAS – It’s a small butler, hard as a tin but intelligent as a human.“Good morning, did you sleep well?” says a robot as it suggests breakfast menus, recommending a light green salad to help reduce stress before your big presentation at work.The AI robot knows your schedule, can even assume the state of your feeling and offer due action plan.This is what a Level 3 AI will be able to do for humans, according to the AI framework envisioned by LG Electronics and Element

TechnologyJan. 7, 2020

[CES 2020] Samsung unveils life companion bot Ballie

LAS VEGAS -- A small yellow ball-shape robot, called Ballie, stole the show during a keynote speech by Samsung Electronics’ CEO in Las Vegas on Monday. The South Korean tech giant unwrapped its brand new personal care robot, defining that artificial intelligence is the future of personalized care. Kim Hyun-suk, chief executive officer of Samsung’s consumer electronics division, shared the stage with a yellow ball-shape robot that literally “rolled” during his keynote spee

TechnologyJan. 7, 2020

Volvo aims to sell 12,000 vehicles in S. Korea this year

Volvo Cars Korea said Tuesday it aims to sell 12,000 vehicles this year on higher demand for its SUVs.The 2020 sales target is 14 percent higher than the carmaker's sales of 10,570 vehicles last year, according to data from the Korea Automobile Importers and Distributors Association.Volvo's three best-selling models were the midsize XC60 SUV, the compact XC40 SUV and the S90 upper midsize sedan in 2019, driving up the annual sales result, the KAIDA data showed. The midsize S60 sedan and the V60

MobilityJan. 7, 2020

Nissan says ex-chairman Ghosn guilty of 'serious misconduct'

TOKYO (AP) -- Nissan said Tuesday it will still pursue legal action against its former chairman, Carlos Ghosn, despite his escape from Japan to Lebanon. The Japanese automaker said in a statement that Ghosn engaged in serious misconduct while leading the Nissan-Renault-Mitsubishi alliance. "The company will continue to take appropriate legal action to hold Ghosn accountable for the harm that his misconduct has caused to Nissan," it said without giving details. Ghosn faces charges of fi

World NewsJan. 7, 2020

[News Focus] Korea sees widening income disparity

SEJONG -- South Korea saw income polarization between the haves and have-nots continue to widen over the past few years.Some research analysts say the nation’s middle income bracket has collapsed and a large portion of middle-income households should be reclassified as part of the low income bracket.Comparison data from the Organization for Economic Cooperation and Development for the past decade backs up their arguments.The OECD compared the poverty rates of 35 of its 36 members as of 201

Social AffairsJan. 7, 2020

Moon’s security adviser to hold 3-way talks in US

President Moon Jae-in’s top security adviser is expected to arrive in Washington on Tuesday for three-way talks with his US and Japanese counterparts amid rising tensions over North Korea and Iran, diplomatic sources said Tuesday.Chung Eui-yong, director of Cheong Wa Dae’s national security office, is scheduled to meet with US national security adviser Robert O’Brien and Japan’s National Security Council chief Shigeru Kitamura on Wednesday.The three are likely to discuss

North KoreaJan. 7, 2020

[Newsmaker] Shin Dong-bin steps down as director of Lotte E&C

Lotte Group Chairman Shin Dong-bin stepped down as an executive director of the group’s construction unit last month, according to the firm’s regulatory filing on Tuesday. Shin resigned from his post at Lotte Engineering & Construction after two years and nine months to take responsibility following the Supreme Court’s decision on his involvement in a bribery scandal and to strengthen responsible management, the group said. In October, the nation’s top court conf

IndustryJan. 7, 2020

Learn Korean from K-pop singers on tvN show

Many K-pop fans from around the world learn Korean through K-pop, whether intentionally or not, from their repeated listening of the songs and countless replaying of the videos starring their favorite artists. What would it be like for K-pop singers to actually teach Korean?“K-pop Culture Center,” a new tvN variety show scheduled to launch next month, will do just that -- K-pop artists teaching their fans Korean language and culture through K-pop.  Each episode will feature a po

TelevisionJan. 7, 2020

Global chip market will likely recover in Q2: report

The global semiconductor market will likely rebound in the second quarter as manufacturers struggle to ease a supply glut that has pushed down prices, an industry report said Tuesday. Hana Institute of Finance said in the report that the fluctuations and downturn in the semiconductor sector were largely due to oversupply."Last year's sluggish chip exports and poor earnings by chipmakers were not due to a drop in sales but to price drops driven by oversupply," the report said.  Har

IndustryJan. 7, 2020

'Winter Flower,' Younha's collaboration with RM, tops iTunes charts in 43 countries

"Winter Flower," South Korean female singer Younha's collaborative song with BTS' RM, topped iTunes single charts in 43 countries Tuesday, her management agency said. The first track of Younha's new album, "Unstable Mindset," released on Monday, made her the first South Korean female soloist to top the U.S. iTunes Top Song chart as the track sat atop the iTunes single charts in 43 countries and regions, according to C9 Entertainment.  Including the 43 countries, the iTun

PerformanceJan. 7, 2020

PM nominee says he will propose inviting opposition politicians to Cabinet

Prime Minister nominee Chung Sye-kyun said Tuesday he plans to propose forming a Cabinet that involves opposition politicians after the April parliamentary elections.Speaking at a parliamentary confirmation hearing, Chung, a six-term lawmaker, said his idea is aimed at promoting the "cooperative" governance of state affairs in the face of deepened partisan tensions."I am planning to propose to President (Moon Jae-in) an idea of forming a Cabinet that involves the participation of

PoliticsJan. 7, 2020

Pentagon rejects Trump threat to hit Iranian cultural sites

WASHINGTON (AP) -- The Pentagon on Monday distanced itself from President Donald Trump's assertions that he would bomb Iranian cultural sites despite international prohibitions on such attacks. Defense Secretary Mark Esper said the US will "follow the laws of armed conflict." When asked if that ruled out targeting cultural sites, Esper said pointedly, "That's the laws of armed conflict."The split between the president and his Pentagon chief came amid heightened tensions with

World NewsJan. 7, 2020

Major firms' operating profit estimated to have almost halved last year

Major listed firms are estimated to have seen their earnings nearly halve last year in the face of uncertainties stemming from the Sino-American trade row, a market tracker said Tuesday.According to data compiled by Yonhap Infomax, a financial information provider, the combined operating profit of the 51 companies, which are also part of the KOSPI 200 Index, is estimated to have fallen by 44.59 percent to 69 trillion won ($59.2 billion) in 2019 compared with the previous year's 124.5 trillion wo

IndustryJan. 7, 2020

S. Korea to host more companies at food cluster

South Korea said Tuesday it will continue efforts to invite more businesses to the food industry complex with tax incentives and better infrastructure to bolster the country's exports of foodstuff and meet the changing market demand.As of 2019, there were a total of 93 food companies and institutes operating at the national food cluster in Iksan, 246 kilometers south of Seoul, according to the Ministry of Food, Agriculture and Rural Affairs.South Korea said the figure will rise to 110 by the end

IndustryJan. 7, 2020