South Korea’s mobile carriers seek opportunities at CES 2020

South Korean mobile carriers SK Telecom and LG Uplus are ramping up efforts to find new business opportunities at the upcoming Consumer Electronics Show 2020 that kicks off in Las Vegas on Jan. 7.Their participation in the world’s largest annual tech event is largely in line with their parent groups’ involvement in the show. Yet, the growing importance of 5G network in the electronics and smart mobility sectors is also an important factor, according to industry sources.The capabiliti

IndustryDec. 26, 2019

People sought comfort from books in past decade

Inspirational nonfiction and heartwarming novels swept bestseller lists in the 2010s, an indication that people sought solace from books over the past decade, according to the Kyobo Book Center. “The Things You Can See Only When You Slow Down,” written by Ven. Haenim, a renowned Buddhist monk in South Korea, was the bestselling book of the decade. After its release in 2012, it remained a bestseller for two years.  Translated into English by Kim Chi-young, the illustrated book of

BooksDec. 26, 2019

Christmas over but allies await NK’s ‘Christmas gift’

Christmas Day has passed without North Korea’s “gift” materializing, but Seoul and Washington are keeping a close eye on Pyongyang amid rising speculation about the regime’s next move. Seoul is said to have seen no unusual signs in North Korea, but the Ministry of National Defense and other concerned organizations remain on high alert.  “The Ministry of Defense is maintaining readiness for various military situations in close cooperation with the US,” Def

North KoreaDec. 26, 2019

N. Korea may launch 'maximum gray-zone' provocations for US concessions in 2020: expert

North Korea could launch maximum "gray-zone" provocations next year just short of an intercontinental ballistic missile launch to extract US concessions in their stalled nuclear talks, an expert said Thursday.Jun Bong-geun, professor at the state-run Korea National Diplomatic Academy, made the remarks amid speculation that the North could engage in provocative acts in a show of anger over the absence of US concessions by Pyongyang's self-imposed year-end deadline."Though strong pr

North KoreaDec. 26, 2019

BOK warns of household debt rise amid heated housing market

South Korea’s monetary authorities on Thursday reiterated their warning against increasing household debt especially for the elderly as the heated real estate market continues to attract liquidity.According to a report released by the Bank of Korea, the outstanding household debt, including credit spending, came to 1,572.7 trillion won ($1.35 trillion) as of end-September. The figure, which has gained 3.9 percent on-year, marks the lowest growth since the second quarter of 2004, when the h

EconomyDec. 26, 2019

Number of private money lenders slightly down in H1

The number of private money lenders in South Korea edged down 0.2 percent in the first half of the year from six months earlier, data showed Thursday. The number of registered private money lenders and brokers reached 8,294 as of the end of June this year, down 16 from six months earlier, according to the data from the Financial Supervisory Service.The total amount of outstanding loans by private lenders was 16.7 trillion won ($14.3 billion) at the end of June, down from 17.3 trillion won six mo

EconomyDec. 26, 2019

[Monitor] Companies increase R&D investments by W4tr

Despite seeing a drop in revenue this year, South Korean companies increased their investment for research and development by nearly 4 trillion won combined, data by CEO Score showed this week.Internet and IT companies were among the most active in research investments, as were pharmaceutical firms.(khnews@heraldcorp.com)

TechnologyDec. 26, 2019

NH Investment & Securities launches hedge fund firm

NH Investment & Securities, the country’s second-largest securities firm by net assets, launched a hedge fund company as its own subsidiary, the company said Thursday.NH Hedge Asset Management will be led by CEO Lee Dong-hoon, the former head of the hedge fund division at NH Investment & Securities.In August 2016, the securities firm launched the hedge fund division and has operated the NH Absolute Return Fund worth 700 billion won ($603 million) and NH Pre-IPO Mezzanine Fund worth

MarketDec. 26, 2019

Kosdaq to outperform Kospi in Jan.: analysts

South Korea’s secondary bourse Kosdaq is expected to enjoy the “January effect” in 2020, as it has historically performed strongest in the first month of the year, analysts said Monday. According to stock market operator Korea Exchange, the increase rate of Kosdaq’s index in January has been seven times that of the main bourse Kospi since 2010. In January 2018, the Kosdaq index surged 14.42 percent, while Kospi increased 4.01 percent on-year. In January 2014, Kosdaq rose

MarketDec. 26, 2019

Electoral reform bill to be put to vote at parliament Friday

A contentious bill on electoral reform will likely be put to a vote at the National Assembly on Friday, after a three-day filibuster led by the main opposition group ended at the stroke of midnight Wednesday. Rep. Lee In-young, the ruling Democratic Party’s floor leader, made clear Thursday the party’s determination to push for its passage, despite the main opposition’s continuing resistance. Having forged a coalition on the issue with four minor groups, the Democratic Party ha

PoliticsDec. 26, 2019

Watch a show, have a drink, too

Sejong Center for the Performing Arts in central Seoul took a step this week to make year-end concerts more festive and fun, allowing people to bring drinks, including alcohol, into the shows.On Tuesday, before the start of “Introduction to Indie Music” at the Sejong Center’s S Theater, several people stood around the lobby with plastic cups of beer in their hands. A temporary bar was set up in one corner of the lobby where patrons could grab a cup at 8,000 won ($6.90) apiece.

CultureDec. 26, 2019

[Newsmaker] For college students, Samsung remains most coveted employer

University students in South Korea still view tech giant Samsung Electronics as the most desirable future employer, a local survey showed Thursday. According to the survey of 473 male students and 586 female students conducted by online job portal JobKorea, 10.6 percent chose Samsung Electronics as the company where they would most like to work. The next most popular answer was Korean Air (7.6 percent), followed by food manufacturer CJ CheilJedang (6.7 percent) and the Korea Electric P

IndustryDec. 26, 2019

Hyundai Rotem wins deals worth W243.3b for combat vehicles

Hyundai Rotem Co., a South Korean train and defense equipment maker, said Thursday that it has clinched 243.3 billion won ($209.5 million) worth of orders to build combat engineering vehicles and tanks.Hyundai Rotem is set to deliver combat engineering vehicles and K1E1, an enhanced version of K1 tanks, to the Defense Acquisition Program Administration, South Korea's arms procurement agency, by 2020 and 2022, respectively. Hyundai Rotem did not give details on the number of combat engineering ve

IndustryDec. 26, 2019

Seoul to welcome 2020 with ringing of Boshingak bell

The Seoul metropolitan city government said Thursday it will welcome the new year with a traditional bell-ringing ceremony.The bell will be rung 33 times at Boshingak Pavillion in downtown Seoul at midnight on New Year's Eve by Seoul Mayor Park Won-soon and 11 civic representatives, according to the city.The bell-ringing ceremony, broadcast live across the country, has been held every year since 1953. The ringing of the bell bids farewell to the old year and is an expression of hope, happiness a

Social AffairsDec. 26, 2019

Arrival duty-free shops to begin selling cigarettes from March

South Korea's finance ministry said Thursday it will allow arrival duty-free shops to sell cigarettes from March, in a move to promote businesses of arrival shops. The nation's first on-arrival duty-free shops opened at Incheon International Airport, the country's main gateway, in May, but the shops had been banned from selling tobacco. After revising an ordinance on customs regulations, one person will be allowed to buy one 10-pack carton of cigarettes at arrival duty-free shops from March next

IndustryDec. 26, 2019

Seoul, Beijing, Tokyo to carry out joint study to address pending issues

South Korea, China and Japan on Thursday agreed to resume their joint research program to resolve shared environment issues, such as fine dust, Seoul's science ministry said Thursday.Top science officials from the three neighboring countries gathered in Seoul to discuss pending issues, according to the Ministry of Science and ICT.The trilateral meeting marks the first of its kind since 2012, when science ministers from the three countries gathered. According to the ministry, the three countries

IndustryDec. 26, 2019

Ex-KHNP chief tapped to lead Hyundai Electric & Energy Systems

Hyundai Electric & Energy Systems said Thursday it has appointed the former chief of Korea Hydro & Nuclear Power as president and CEO, the first outsider to take the top job.The Korean electrical power equipment provider said new CEO Cho Seok was appointed to replace former chief Chung Myung-lim, who resigned two days ago. The company is an affiliate of Hyundai Heavy Industries Group. Cho, 62, began his career at the Ministry of Knowledge Economy in 1981 after graduating from Seoul

IndustryDec. 26, 2019

[News Focus] Payouts for jobless soared 81% since 2017

SEJONG -- Data provided by a state-funded agency showed that the volume of unemployment benefits paid to the jobless has sharply increased over the past two years.The figures, from the Korea Employment Information Service, suggest that the economic slowdown is forcing more and more people to leave their workplaces or close their businesses.South Korea saw monthly payouts of unemployment benefits reach 704.4 billion won ($605.1 million) in October 2019, compared with 388.8 billion won in October

EconomyDec. 26, 2019

S. Korea emerges as major player in global gaming M&As: report

South Korean companies are increasingly becoming key players of mergers and acquisitions in the global game industry, in pursuit of fresh revenue sources and growth engines, data showed on Thursday.From 2013 to 2018, Korea ranked No. 4 in global M&A transactions in the industry, according to Samjong KPMG in its report titled “Global M&A Trends in Game Industry.”  Of the total 528 deals globally, Korean entities proposed, signed and closed a combined 45 deals, followed by

MarketDec. 26, 2019

Moon: Time for world to act to advance nuclear talks with N. Korea

South Korean President Moon Jae-in called on the international community Thursday to take reciprocal actions to maintain the momentum of talks with North Korea and facilitate the peace process."More action is needed to achieve peace on the Korean Peninsula," he said in his contribution to Project Syndicate, a global organization carrying op-ed commentaries by prominent figures. "The North Korean nuclear and missile issues have yet to be resolved, and the North is still cautious ab

North KoreaDec. 26, 2019