Veterans can contest decoration review: court

Veterans or independence activists who fought against Japan during its occupation of the Korean Peninsula are eligible to file a legal complaint if they feel they were unlawfully denied decorations, the Seoul High Court said. According to judicial sources on Friday, the appeals court overturned an earlier ruling that refused to look into a claim, raised by a man on behalf of his deceased father, demanding the veterans affairs agency recommend a decoration for his father, who the son claims was

DefenseJan. 3, 2020

Samyang Group chairman vows bold investments, M&As in 2020

Samyang Group Chairman Kim Yoon said in his New Year’s address that the company would overcome challenges and prepare for the future this year. During a New Year’s meeting on Thursday, he also vowed to make bold overseas investments, acknowledging that the group’s assets and business activities are overly focused on the Korean market.  “Both markets at home and abroad will be much more difficult this year,” Kim said, suggesting four strategies for the group&rsq

ConsumerJan. 3, 2020

Big Bang to make comeback at US music festival

Popular K-pop band Big Bang will make a much-awaited comeback to the stage at a US music festival this spring after its members completed their military duties, the group's agency said Friday.The act was invited to this year's Coachella Valley Music and Arts Festival in Indio, California, in April, according to YG Entertainment. Big Bang will perform on April 10 and 17, along with other musicians, including Rage Against the Machine, Peggy Gou and Hatsune Miku.It is expected to be the f

PerformanceJan. 3, 2020

LG Uplus to create home internet subsidiary in March, offer workers permanent positions

LG Uplus said Friday it plans to establish a home internet service unit, with the aim of launching it on March 1. The subsidiary’s business will encompass home internet services and pay TV products. Its share structure has not been decided yet, said LG Uplus.  According to the company, the subsidiary will hire temporary workers from the company’s external partners as permanent employees. LG Uplus aims to offer full-time positions to some 800 temporary workers this year and 500 a

IndustryJan. 3, 2020

Wonik QnC embraces Momentive’s quartz operation for $266m

South Korea’s fabricated quartz maker Wonik QnC said Friday it had completed an acquisition of quartz and ceramics business units owned by New York-based company Momentive Performance Materials for $266 million, in a bid to achieve a vertical integration of its supply chain.Wonik QnC based in Gumi, North Gyeongsang Province, makes components for semiconductors, displays and other products using quartz. The cross-border deal will allow the company to wholly own the world’s leading fus

MarketJan. 3, 2020

[Newsmaker] 2 dead, 1 injured in Incheon crane collapse

INCHEON -- Two workers were killed and one other was injured when a 30-meter-high tower crane collapsed at a construction site in Incheon, west of Seoul, on Friday, police said.In the 8:32 a.m. accident at the site for the construction of a cutting tool manufacturer's headquarters, a 58-year-old worker and a 50-year-old worker, both from a crane installment company, were killed. Another worker, 34, from the same company sustained an injury on his left arm and was taken to a nearby hospital. The

Social AffairsJan. 3, 2020

Finance minister urges financial firms to focus on risk this year

Finance Minister Hong Nam-ki on Friday called for banks and other financial firms to improve their risk management processes and channel more funds into the real economy. Hong made the remarks at a meeting for the new year with heads of economic and financial institutions, including Bank of Korea Gov. Lee Ju-yeol and Finance Services Commission Chairman Eun Sung-soo. "The trend of an economic recovery is anticipated for this year, but we must remain vigilant due to uncertainties over the gl

EconomyJan. 3, 2020

New justice minister says prosecution reform ‘demand of times’

Justice Minister Choo Mi-ae pledged to reform the prosecution as she took office Friday, calling it the “demand of the times.”“Reforming the prosecution, which is (seen) as the most difficult (task), has become a demand of the times that nobody can resist,” Choo said in her inaugural speech at the ministry building in Gwacheon, just south of Seoul. President Moon named on Dec. 5 the five-term lawmaker from the ruling Democratic Party of Korea to succeed Cho Kuk, who stepp

Social AffairsJan. 3, 2020

LG Electronics reinforces lineup of 8K TVs for CES

LG Electronics said Friday it will bring two more 8K TV models to the Consumer Electronics Show in Las Vegas next week. The 2020 lineup of LG’s 8K TVs will include a 77-inch organic light-emitting diode TV model, in addition to the current 88-inch OLED model, and a 65-inch NanoCell model, along with the current 75-inch model.LG’s 8K TV models have around 90 percent contrast modulation levels, certified by the Consumer Technology Association, the organizer of CES.  All four model

TechnologyJan. 3, 2020

Oil prices surge after US strike kills Iranian general

HONG KONG (AFP) -- Oil prices soared more than four percent Friday following news that the US had killed a top Iranian general, fanning fresh fears of a conflict in the crude-rich region.The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad's international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.Later, Donald Trump tweeted a picture of the American flag, and the Pentagon said he had ordered Soleimani's killing. Bren

World NewsJan. 3, 2020

Samsung to introduce fresh concepts of home electronics at CES 2020

Samsung Electronics said Friday it will introduce new concepts of home electronics at the Consumer Electronics Show in Las Vegas next week, ranging from a beer fridge to a footwear management system. The South Korean tech giant will unveil three cube-type refrigerators -- Wine Cube, Beer Cube and Beauty Cube, whose names indicate their purpose.  It will also introduce a footwear management system featuring the technology of the company’s clothes care system, Air Dresser.  Under t

TechnologyJan. 3, 2020

Iran supreme leader vows 'severe revenge' for Soleimani killing

TEHRAN (AFP) -- Iran's supreme leader Ayatollah Ali Khamenei vowed "severe revenge" after the United States killed the commander of the Islamic republic's Quds Force, General Qasem Soleimani, in Baghdad on Friday."Martyrdom was the reward for his ceaseless efforts in all these years," Khamenei said on his Farsi-language Twitter account in reference to Soleimani, also declaring three days of mourning. "With him gone, God willing, his work and his path will not be stopped,

World NewsJan. 3, 2020

Moon vows to boost eco-friendly car industry

President Moon Jae-in on Friday visited the Pyeongtaek-Dangjin port -- where this year’s first shipment of eco-friendly vehicles were exported -- emphasizing his administration’s focus on aiding the development of next-generation automobile technologies.  “Today, we export over 4,200 vehicles including the electric car Niro and hydrogen truck Neptune to Europe,” Moon said. He was referring to Kia’s Niro, and Hyundai Motor’s hydrogen-powered truck Neptune,

PoliticsJan. 3, 2020

Samsung ships over 6.7m Galaxy 5G smartphones in 2019

Samsung Electronics Co. said Friday it shipped more than 6.7 million Galaxy 5G smartphones last year, solidifying its top dog status in the global 5G handset market. With solid shipment performance, Samsung said it accounted for 53.9 percent of the global 5G smartphone market as of November 2019, citing data from market tracker Counterpoint Research.  Samsung launched five Galaxy 5G devices last year, including the Galaxy S10 5G and Note 10 5G, as well as Galaxy Fold 5G.The South Korean tec

IndustryJan. 3, 2020

Demographic change will bring new, bigger challenges to financial sector: BOK chief

The head of South Korea's central bank on Friday called for efforts by the financial industry to prepare for the fourth industrial revolution, as well as imminent demographic changes that he said will increasingly become bigger and more serious."It is not easy to predict changes that will come over the next decade. But it is easy to expect that the impact of changes in population and technological developments will become much greater while this trend of a new normal continues," Bank o

EconomyJan. 3, 2020

Four lawmakers-turned-ministers won't run in April's general election

Four lawmakers of the ruling Democratic Party, who are concurrently serving as ministers in President Moon Jae-in's Cabinet, said Friday they won't run for reelection in April's general election, vowing to devote themselves to the success of the Moon government.SMEs and Startups Minister Park Young-sun, Land, Infrastructure and Transport Minister Kim Hyun-mi and Education Minister Yoo Eun-hae held a joint news conference at the National Assembly in the morning to announce their decisions not to

PoliticsJan. 3, 2020

NK media warn of immediate strike against threats

North Korea’s official newspaper warned Friday that any act infringing on the country’s dignity and survival will be met with an “immediate and powerful strike.”The Rodong Sinmun, the mouthpiece of the North Korean Workers’ Party, followed up on North Korean leader Kim Jong-un’s remarks late last month that Pyongyang would soon show off a “new strategic weapon.” Accusing the US of dragging its feet in denuclearization talks for its own political in

North KoreaJan. 3, 2020

Top-down appointed IBK CEO turned away amid union resistance

The state-run Industrial Bank of Korea on Friday faced a dispute over the appointment of its new chief, as its labor union protests what it called the government’s “abuse of authority.” On Friday, newly appointed CEO Yoon Jong-won, 59, a former senior presidential secretary for economic affairs, failed to enter the bank’s headquarters in central Seoul amid protests by union members, who barricaded all entrances to the building starting early in the morning. The previ

MarketJan. 3, 2020

JYJ's Kim Jae-joong to tour six Asian cities

Singer Kim Jae-joong of JYJ will begin a six-city Asian tour later this month, his management agency said Friday.The three-month tour will kick off in Seoul on Jan. 18-19 at the Peace Hall of Kyunghee University and continue in Bangkok, Jakarta, Kuala Lumpur, Taipei and Macao, according to C-Jes Entertainment. Kim, a member of the Korean pop group JYJ, will release his first Korean-language album in four years, titled "Love Ballad," on Jan. 14.Debuting as an original member of boy band

PerformanceJan. 3, 2020

'I did it alone', Ghosn says of Japan escape

BEIRUT (AFP) -- Carlos Ghosn claimed Thursday he organised his dramatic escape from bail in Japan alone as the disgraced auto tycoon enjoyed his first days of freedom in Beirut despite an Interpol arrest notice.The exact circumstances of the former Renault-Nissan boss's escape from a case he said was "rigged" were unclear but media reports described a plot that had all the trappings of a spy novel.Turkey said seven people had been detained for questioning, including four pilots, over h

World NewsJan. 3, 2020