South Korean President criticizes indictment of former minister

South Korea’s presidential office criticized prosecutors’ decision to indict the country’s former justice minister, pushing back against a scandal that has damaged the ruling party ahead of parliamentary elections.A spokesman for President Moon Jae-in said the indictment Tuesday of ex-Justice Minister Cho Kuk raised questions about the prosecutors’ motivation. The Seoul Central District Prosecutors’ Office indicted Cho on 12 charges in all, including bribery and obs

PoliticsDec. 31, 2019

KBO club Wiz re-sign outfielder Mel Rojas Jr.

South Korean baseball club KT Wiz announced Tuesday they'll bring back outfielder Mel Rojas Jr. for his fourth straight year with the team.The Korea Baseball Organization team said Rojas, 29, has agreed to a new one-year deal worth up to $1.5 million. He'll make $800,000 in guaranteed salary, $500,000 in signing bonus and up to $200,000 in incentives.Rojas batted .322 with 24 home runs and 104 RBIs in 2019, and earned his first Golden Glove, awarded to the best overall player at each position. T

BaseballDec. 31, 2019

Prime minister thanks Kuwait for partnering with Seoul hospital

South Korean Prime Minister Lee Nak-yon on Tuesday expressed his gratitude to Kuwaiti leaders for selecting a Seoul-based university hospital to run a landmark hospital in the Middle Eastern country."A local news report (said) ... Kuwait has appointed Seoul National University Hospital as the official operator of the ambitiously built New Jahra Hospital," Lee wrote in a tweet, thanking Kuwaiti leaders for the decision. He also mentioned how they warmly greeted him during his visit to t

PoliticsDec. 31, 2019

Sungdong Shipbuilding averts liquidation with W200b deal

A consortium led by HSG Heavy Industries signed a contract Tuesday to buy debt-saddled South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering for 200 billion won ($173 million), allowing the shipbuilder to avert liquidation of its assets.So far the consortium has paid 10 percent of the total, with the balance due by February.This came a month after the consortium, composed of HSG Heavy and private equity firm Curious Partners, was chosen as the preferred bidder for the Tongyeong

MarketDec. 31, 2019

[Robert J. Fouser] The 2020s, a look ahead

In my last column I looked back on the 2010s in South Korea; this time I look forward and offer some predictions for the 2020s. The predictions highlight the challenges that South Korea will face in the new decade.Domestically, the aging of the population and generational change will have a profound influence over South Korean society. By the end of the decade, most of the large post Korean-War baby boom generation will be in its seventies and well into retirement. Meanwhile, most of the politic

ViewpointsDec. 31, 2019

[Kim Seong-kon] Belling the cat in the Year of the Mouse

In the Chinese horoscope, 2020 is the Year of the Mouse. According to the fable behind the horoscope, when the Emperor of Heaven invited 12 animals to his party, the Mouse cunningly tricked the Ox into giving him a lift, and then jumped down at the end to cross the finish line first. Since the Mouse begins the zodiac ahead of the other animals, they say that the Year of the Mouse marks a year of new beginnings. We hope that 2020 will be a year of new beginnings for Korea too.In the horoscope, th

ViewpointsDec. 31, 2019

M&As to keep Korean industries going in 2020

South Korea was brimming with billiondollar mergers and acquisitions in 2019, mainly propelled by large business groups in search of new growth opportunities, along with the divestment of their noncore business units.Throughout 2019, Korean entities announced a record-high volume of M&A transactions worth a combined 37.7 trillion won ($32.6 billion), according to Maeil Business Newspaper’s capital market tracker Radar M.Experts say this uptrend will continue and will eventually fuel an

MarketDec. 31, 2019

Return of long-forgotten singer Yang Joon-il brings middle-aged fans to music scene

Following a short-lived music career in the early 1990s, Yang Joon-il disappeared into obscurity, leaving many fans without a clue about the star.A JTBC TV show has recently brought the long-forgotten star back to the public consciousness, summoning his old fans, now in their 40's, back to the K-pop scene. Fans' reaction was ecstatic and tickets for Yang's comeback fan meeting on Tuesday sold out, making him one of the most talked-about celebrities of today within the span of one month.In hindsi

PerformanceDec. 31, 2019

[What the 2020s will hold for Korea] More immigrants, multinational families

A new decade has dawned. Unprecedented challenges await Korea from an aging and shrinking population to accelerated warming of the peninsula. The Korea Herald has prepared a four-part series looking into some of the changes and challenges facing the nation in the 2020s. -- Ed.As South Korea enters a new decade with a looming demographic crisis, immigrants make up only 4 percent of the country’s total population of 51.7 million. The proportion looks set to rise in the 2020s, but the co

Social AffairsDec. 31, 2019

[Photo News] Ensuring Defense Readiness in 2020

Gen. Park Han-ki, chairman of South Korea’s Joint Chiefs of Staff, was aboard the E-737 Peace Eye aircraft early Tuesday morning. Park communicated with key commanders from each branch of the armed forces and encouraged them to carry on their unwavering pursuit of “complete military readiness” during the 100-minute flight across the country. The top military officer thanked soldiers for their service amid heightened tension on the Korean Peninsula in the photos provided by 

DefenseDec. 31, 2019

[What the 2020s will hold for Korea] Generation Z comes to the fore

A new decade has dawned. Unprecedented challenges await Korea from an aging and shrinking population to accelerated warming of the peninsula. The Korea Herald has prepared a four-part series looking into some of the changes and challenges facing the nation in the 2020s. -- Ed. Come 2020 and those born in 2001 -- the first year of the third millennium -- will be children no more. They are the first batch of post-millennium babies to reach adulthood, the kids of the smartphone era.As with the

Social AffairsDec. 31, 2019

Striving for clarity in 2020

The first day of the new year is perhaps one of the most optimistic days of any year, bringing with it a host of new possibilities. “Out with the old, in with the new,” we intone.In this age of befuddlement marked by growing confusion and mounting uncertainties, clarity has become a much-sought-after commodity. The year 2020 rings hopeful -- the very sound of “twenty-twenty” conjures up an image of acuity, sharpness, focus. Hindsight is 20/20, it is said. But what if, in

ViewpointsDec. 31, 2019

Top prosecutor vows ceaseless efforts for prosecution reform

South Korea's top prosecutor vowed Tuesday to push for ceaseless internal reform in his first public message after the National Assembly passed a bill on establishing a non-prosecution unit specializing in looking into corruption among high-ranking government officials, including senior prosecutors.Prosecutor General Yoon Seok-youl's pledge came as the government's drive to revamp the prosecution is expected to gain traction with the lawmakers' move."As the prosecution for the people, let's

PoliticsDec. 31, 2019

Probable top-down nomination of new IBK CEO triggers backlash

The state-run Industrial Bank of Korea faced the new year amid heated controversy concerning the likely nomination of a former senior presidential aide as its next CEO.On Tuesday, Reps. Chae Yi-bai of the Bareunmirae Party and Chu Hye-seon of the Justice Party held a press conference at the National Assembly along with members of the Korean Financial Industry Union, opposing the nomination of Yoon Jong-won, former senior presidential secretary for economic affairs, as IBK chief.“It seems t

MarketDec. 31, 2019

US flies surveillance plane amid NK tensions: aviation tracker

The United States flew a surveillance aircraft over South Korea on Tuesday, an aviation tracker said, apparently continuing its mission to monitor North Korea amid concerns about possible provocations.The US Air Force RC-135W Rivet Joint was spotted flying over the region at 31,000 feet, according to Aircraft Spots. The US flew the same type of spy plane on Monday and an E-8C, or JSTARS, the previous day.  The US military has been intensifying its surveillance on North Korea as Pyongyang ha

DefenseDec. 31, 2019

NK leader calls for military, diplomatic preparations

The North Korean ruling party’s plenary session continued for a fourth day Tuesday, with North Korean leader Kim Jong-un again stressing “aggressive measures” the previous day.  According to North Korean media, Kim offered a “comprehensive report” on his regime’s policies and projects at Monday’s session of the plenary meeting of the Central Committee of the Workers’ Party of Korea, and called for preparations to be made. “(Kim) gave a c

North KoreaDec. 31, 2019

Financial chiefs look toward new growth momentum in 2020

Gearing up for the new year, South Korea’s top financial officials steeled themselves to face persistent external challenges and to spark new momentum for growth.Given the current trend toward low interest rates, which is likely to last for a while, policymakers vowed further efforts to steady the consequent overheating of the real estate market, saying this excessive liquidity needs to be diverted to innovative businesses.　“We need to maintain an easing monetary policy as the domest

EconomyDec. 31, 2019

Conservative bloc fumes over new probe agency

The main opposition Liberty Korea Party on Tuesday ratcheted up tension with the ruling camp over Monday’s passage of a bill on a new agency to investigate corruption by senior public officials. It said all 108 lawmakers of the party would resign from the National Assembly in protest of the “unilateral” handling of the motion. “All the (Liberty Korea Party) lawmakers cannot hold their anger at the latest railroading of the bill following two bills that were rammed through

PoliticsDec. 31, 2019

Koreans to greet new year with bell-ringing ceremonies nationwide

Traditional bell-ringing ceremonies are to take place in Seoul and other cities nationwide at midnight Tuesday to welcome the new year.The most attention-grabbing bell-ringing ceremony will be at Bosingak Belfry in Jongno, central Seoul, as several national celebrities will ring the bell 33 times amid cheers from tens of thousands of citizens gathered to celebrate the beginning of the new year.This year, the celebrities invited to take part in the Bosingak bell-ringing ceremony include South Kor

Social AffairsDec. 31, 2019