Samsung chairman retains top spot as wealthiest businessman in S. Korea

Ailing Samsung Group Chairman Lee Kun-hee retained the top spot as the wealthiest South Korean businessman with his stock assets rising by 4 trillion won ($3.4 billion) in 2019, to reach 17.6 trillion won, according to a corporate tracker Tuesday. According to CEO Score, Lee’s stock assets rose the most in the nation in 2019 and he is the only individual whose share value exceeds 10 trillion won here. The huge increase comes mainly from his holdings in Samsung Electronics, which soared in

IndustryDec. 31, 2019

[Newsmaker] Cold snap grips Korea

The season’s strongest cold wave hit South Korea on Tuesday, New Year’s Eve, with temperatures in many parts of the country dropping below minus 10 degrees Celsius. Cold wave alerts or advisories were issued for most parts of the country as of 7 a.m., except for the resort island of Jeju. Temperatures dipped to the season’s record lows, reaching minus 11.7 C in Seoul and minus 9.8 C in Incheon as of 8:30 a.m., according to the nation’s weather agency. In the mountainous r

Social AffairsDec. 31, 2019

Bailed tycoon Ghosn 'escapes' to Lebanon from 'rigged' Japan

BEIRUT/TOKYO (AFP) -- Former Nissan chief Carlos Ghosn said Tuesday he had fled to Lebanon to escape injustice in Japan, where he was on bail awaiting trial on financial misconduct charges.The auto tycoon's abrupt departure was the latest twist in a rollercoaster journey that saw him fall from boardroom to detention centre and it sparked questions over an embarrassing security lapse in Japan.In a statement, the 65-year-old tycoon said he would "no longer be held hostage by a rigged Japanese

World NewsDec. 31, 2019

Momoland returns as six-piece girl group with retro music

Momoland has dropped a new retro-inspired digital single as a six-member girl group, following the departure of three members.In a media showcase held in central Seoul on Monday, Momoland officially unveiled the digital single "Thumbs Up," another addictive number following its captivating hits, such as "Bboom Bboom" and "Baam."It is the group's first music release as a six-piece unit after three members -- Taeha, Yeonwoo and Daisy -- left Momoland. The reconfigurat

PerformanceDec. 31, 2019

‘Secret Zoo,’ comic survival of a zoo with no animals

Movies featuring animals as the main characters are often CGI-heavy. But director Son Jae-gon chose instead to make actors wear animal masks and outfits in the upcoming movie “Secret Zoo.”Two other animal comedy movies will hit theaters here in January -- South Korean film “Mr. Zoo” and “Dolittle” featuring Robert Downey Jr. However, Son expects the meticulously designed animal costumes and the chemistry between the animal and human characters to differentiate

FilmDec. 31, 2019

‘Fansumers’ emerge as social media power brokers

In a KakaoTalk group chat gathering 300 fans of Pengsoo, users vented their anger when the character appeared at a promotional event for a movie on Dec. 16. Some of them insisted they should send emails of protest to the production team at Educational Broadcasting System and ask them to refrain from commercial uses of Pengsoo -- a costumed live-action penguin character that has quickly gained popularity in Korea for its straight-talking wit.  “We can’t stand Pengsoo’s imag

CultureDec. 31, 2019

[What the 2020s will hold for Korea] Aging time bomb ticking louder

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.School classrooms and homes go empty in rural areas. Deaths greatly outnumber childbirths. The economy, once the region’s most dynamic, loses its vigor with fewer workers, fewer taxpayers and fewer consumers. This, ac

Social AffairsDec. 31, 2019

Bioservice industry rakes in W1tr, up 24%

The bioservice industry -- biologics contract research and manufacturing firms -- marked the most on-year growth of 23.9 percent in 2018, KoreaBio said Tuesday.The association, which represents over 300 biologics companies here, surveyed 993 local firms between June 3 and Oct. 31 in collaboration with the Ministry of Trade, Industry and Energy. The firms spanned a diverse range of sectors -- biopharmaceutical, biochemical and bioenergy, biofood, bioenvironmental, biomedical equipment, bioinstrum

IndustryDec. 31, 2019

Moon asks for confirmation hearing report of justice minister nominee by Wed.

President Moon Jae-in asked the National Assembly on Tuesday to send him a confirmation hearing report of the justice minister nominee by a day later, in a move seen as accelerating his prosecution reform drive.Moon has asked the National Assembly to send the hearing report on his pick for justice minister, Choo Mi-ae, by Wednesday, according to his office.If the National Assembly fails to adopt a confirmation hearing report by the proposed deadline, the president can appoint Choo to the post as

PoliticsDec. 31, 2019

Former Justice Minister Cho Kuk indicted for family-related charges

Cho Kuk, former justice minister and senior presidential secretary, was indicted Tuesday on a number of charges in relation to a scandal involving his family, including bribery.The Seoul Central District Prosecutors Office indicted the former minister on 12 charges, including obstruction of business and forging fake documents, without detention. The indictment follows a monthslong probe over alleged academic fraud and financial irregularities involving Cho's wife and children.Prosecutors claimed

Social AffairsDec. 31, 2019

[What the 2020s will hold for Korea] Visible signs of climate change

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.The sea level is rising. Spring and autumn are getting shorter, while summer is becoming longer. South Korea is blanketed by toxic air more frequently. All these point to one thing: Global warming is unfolding on the K

Social AffairsDec. 31, 2019

S. Korea gripped by season's coldest weather

Freezing cold weather hit most of the nation Tuesday, the last day of this year, with the windchill dipping below minus 30 C in some mountainous regions of Gangwon Province, east of Seoul.The Korea Meteorological Administration issued a cold wave alert or advisory for much of South Korea, excluding the southern island of Jeju, as the mercury dropped to the season's record lows of minus 10.9 C in Seoul and minus 9.9 C in Incheon on Tuesday morning.In Gangwon Province, the nation's coldest region,

Social AffairsDec. 31, 2019

SUVs, EVs, luxury cars to again dominate auto market in 2020

After a bumpy year with flat consumer sentiment and global trade uncertainties, the automotive market is likely to face a similar business environment in 2020, with sport utility vehicles, electric vehicles and luxury cars remaining popular, according to market analysts.Hyundai Motor Group’s think tank for global business research and development center noted that the global auto market is estimated to record sales of 86.95 million units in 2019, down 5 percent from the previous year. This

MobilityDec. 31, 2019

2020 pays homage to Beethoven

As 2020 marks the 250th anniversary of Ludwig Van Beethoven’s birth, various recitals and concerts are taking place across the world in remembrance of the great musician from the 18th century. Korea is of course no exception in paying tribute to Beethoven. The classical music scene has already been pumped and primed in anticipation, gearing up for a big celebration. Although Beethoven’s music has already been frequently played in musical presentations here, such instances have double

PerformanceDec. 31, 2019

Iraq warns US ties at stake after deadly strikes

BAGHDAD (AFP) -- Iraq's government warned Monday that its relations with the United States were at risk after deadly American air strikes against a pro-Iran group sparked anger on the streets, with protesters torching US flags.Baghdad said it would summon the US ambassador while Washington responded by accusing Iraqi authorities of having failed to "protect" US interests.At least 25 fighters were killed in Sunday night's attacks, which saw US planes hit several bases belonging to the H

World NewsDec. 31, 2019

Microsoft seizes web domains used by North Korean hackers

WASHINGTON (AFP) -- Microsoft said Monday it obtained a court order allowing it to seize web domains used by North Korean hacking groups to launch cyberattacks on human rights activists, researchers and others.The US technology giant said a federal court allowed it to take control of 50 domains operated by a group dubbed Thallium, which tricked online users by fraudulently using Microsoft brands and trademarks."This network was used to target victims and then compromise their online account

World NewsDec. 31, 2019

[Newsmaker] Parliament passes corruption probe unit bill amid opposition lawmakers' protest

The National Assembly passed a controversial bill to set up a separate unit to probe corruption by high-ranking public officials Monday, lending support to President Moon Jae-in's bid to reform the prosecution.A parliamentary vote came about eight months after the ruling party-led bloc placed related prosecution reform bills on a legislative fast track in late April, along with an electoral reform bill.The establishment of the proposed corruption probe unit is aimed at overhauling the prosecutio

PoliticsDec. 31, 2019

Pompeo says US hopes N. Korea chooses path of peace

WASHINGTON -- The United States hopes North Korea will choose a path of peace, not confrontation, US Secretary of State Mike Pompeo said Monday, as the regime has threatened to take a "new way" over stalled denuclearization talks with Washington.Pompeo made the remark in an interview with Fox News amid expectations North Korean leader Kim Jong-un may announce a new US policy in his upcoming New Year's address."We're watching very closely ... we maintain our view that we can find a

North KoreaDec. 31, 2019

Kim calls for 'diplomatic, military countermeasures' ahead of end-of-year deadline

North Korean leader Kim Jong-un has called for "diplomatic and military countermeasures" for preserving the country's sovereignty and security during an ongoing Workers' Party meeting, state media reported Tuesday, ahead of the impending expiry of Pyongyang's end-of-year deadline for US concessions.He made the calls at the third-day session of the plenary meeting of the Central Committee of the North's ruling Workers Party on Monday, according to the Korean Central News Agency.The meet

North KoreaDec. 31, 2019

Korea's consumer prices rise 0.7% in December

South Korea's consumer prices rose 0.7 percent on-year in December, marking the fastest growth in six months, the statistics agency said Tuesday.  The country's inflation also gained 0.2 percent on-month this month on the back of increased prices of agricultural and industrial products, Statistics Korea said in a statement.   Core inflation, which excludes agricultural and petroleum products, rose 0.7 percent from a year earlier.  Utility prices were unchanged on-ye

EconomyDec. 31, 2019