Daishin Securities head to lead Kofia

Na Jae-chul, CEO of medium-sized brokerage Daishin Securities, was elected as new chairman of the Korea Financial Investment Association on Friday.Starting from Jan. 1, the 60-year-old will serve his three-year term as the fifth chairman of the leading nonprofit, self-regulatory financial organization in South Korea.According to Kofia, Na earned 221 of 295 votes, beating out KTB Asset Management Vice Chairman Jung Ki-seung and former IBK Securities CEO Shin Seong-ho.Na has been the head of Daish

MarketDec. 22, 2019

Shinhan Financial to set up W2.1tr fund to support 2,000 startups, 10 unicorns

Shinhan Financial Group said Sunday it plans to launch a 2.1 trillion won ($1.8 billion) fund to support 2,000 startups and foster 10 unicorns in the next three years.Unicorns refer to privately held startups valued at over $1 billion -- eight South Korean firms have made it to the list so far, according to US market research firm CB Insight. Through its Triple-K Project, the Korean financial giant will support overseas forays of budding enterprises in collaboration with institutions and compani

MarketDec. 22, 2019

Mahindra chief set to retire amid talks on fate of SsangYong Motor

Following the massive executive reshuffle at Mahindra & Mahindra, an Indian auto giant that acquired SsangYong Motor in 2010, market insiders are speculating whether it will hamper investments in its ailing South Korean subsidiary. According to the Indian company, current Chairman Anand Mahindra will complete his term and take over a non-executive role as a chairman of the board of M&M from April 1. The group said that he will serve as a mentor and the board’s managing director to

MobilityDec. 22, 2019

Recovery of chip industry to boost Korean stock market in 2020: global IBs

South Korea’s semiconductor industry is projected to walk the road to recovery next year, which will propel the local stock market in turn, recent reports by global investment banks said.Most financial institutions upgraded their ratings of the stock market by one or two notches, and said the benchmark Kospi will trade at an average 2,300 points, higher than the corresponding figure of 2,100 points this year. France-based financial institution BNP Paribas adjusted its rating on the South K

MarketDec. 22, 2019

Hyundai Glovis strives for quantum jump as global logistics firm

Hyundai Glovis, a logistics arm of Hyundai Motor Group, will strive to expand its logistics business via global network it has established this year, as well as make a “quantum jump” by penetrating into new markets in 2020, according to the firm. Under the 2020 vision, Hyundai Glovis said it will expand its non-subsidiary logistics business in the next year to step up as a global logistics firm. This year alone, Hyundai Glovis has clinched three partnerships with Chinese fi

IndustryDec. 22, 2019

[Herald Interview] ‘Transformation’ to be keyword for 2020s leadership

Different forms of leadership have shaped nations and companies for centuries.And for the coming decade, “transformation” would be the keyword for leadership, Eugene Kim, the managing partner of leadership advisory firm Egon Zehnder’s Seoul office told The Korea Herald in an interview earlier this month.“The ability to generate profit is no longer the key skill that companies expect from their leaders -- it’s the ability to define and bring about transformation,&rdq

IndustryDec. 22, 2019

Same-sex kiss cut from Star Wars Singapore release: reports

SINGAPORE (AFP) -- A brief kiss between two women in the new "Star Wars" movie was cut from the version released in Singapore, local media said."The Rise of Skywalker", the conclusion to the nine "Star Wars" films that stars Daisy Ridley, was released in the Asian city-state on Thursday.The film contains a brief scene where two minor female characters share a kiss -- but the moment is omitted in the version screened in Singapore, according to Yahoo Lifestyle SEA. Th

FilmDec. 22, 2019

N. Korea threat looms as China, Japan, S. Korea leaders meet

BEIJING (Reuters) -- The spectre of new confrontation between Pyongyang and Washington hangs over meetings between China, Japan and South Korea this week, with growing risks North Korean actions could end an uneasy detente and upend recent diplomatic efforts.South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe are expected to meet Chinese President Xi Jinping separately on Monday. They will then travel to the south western city of Chengdu for a trilateral meeting with C

North KoreaDec. 22, 2019

Overnight sensation, 30 years in the making

Of all the retro K-pop stars of the 1990s reemerging in recent years, Yang Joon-il is perhaps the least expected. For one thing, not many people liked him even back then.But the 50-year-old Korean-American returned to the country Friday after a decades-long hiatus, set to hold his first fan meeting event over 30 years after debuting in 1991. The event “A gift by Yang Joon-il” will be held on Dec. 31 at Sejong University in Seoul.“After a flurry of requests by the fans for Yang&

PerformanceDec. 22, 2019

US flies surveillance aircraft over Korean Peninsula: aviation tracker

The United States has flown a surveillance plane over the Korean Peninsula, an aviation tracker said Sunday, as tensions are growing over the possibility of North Korea conducting a long-range missile test amid stalemated denuclearization talks.According to Aircraft Spots, a US Air Force RC-135W Rivet Joint conducted a surveillance mission over the peninsula. It did not provide details on when the flight took place, but the mission is presumed to have been carried out over the weekend. The fligh

DefenseDec. 22, 2019

S. Korea's ICT exports down for 13th consecutive month in Nov.

South Korean exports of information and communication technology products dropped for the 13th straight month in November on sluggish demand for chips, displays and mobile phones, trade data showed Sunday.The value of outbound shipments totaled $14.31 billion last month, plunging 21.8 percent from a year ago, according to findings compiled by the Ministry of Science and ICT.South Korea's ICT exports have been on the decline since November last year, with overseas shipments consistently falling b

EconomyDec. 22, 2019

Trump slams 'unfair' Pelosi delay, rallies conservatives

WEST PALM BEACH (AP) -- President Donald Trump complained Saturday about House Speaker Nancy Pelosi's delayed transmission of the articles of impeachment to the Senate, which may delay a trial in the GOP-controlled chamber."It's so unfair," Trump said, days after he was impeached by the House, as he spoke at a conservative student conference organized by the group Turning Point USA. "They are violating the Constitution," he added. Pelosi has refused so far to send the article

World NewsDec. 22, 2019

[Newsmaker] At least 2 killed in Gwangju motel fire, death toll expected to rise

At least wo people were killed and 31 others injured in an early morning fire at a motel in Gwangju, Sunday.　Authorities said the fire, which broke out at 5:45 a.m. at the motel in the northern part of the city, was extinguished within 22 minutes at 6:07 a.m.The death toll could rise, as 13 people sustained serious injuries, including smoke inhalation and burns, according to authorities. Most of the 32 rooms of the five-story accommodation were occupied at the time of the fire.Police arrest

Social AffairsDec. 22, 2019

Foreigners set to snap 4-month selling streak of Korean stocks in Dec.

Foreign investors have purchased more South Korean stocks than they have sold so far this month, possibly on the way to ending their four-month selling streak, data showed Sunday.As of Friday, foreign investors have purchased a net 113.9 billion won ($98 million) worth of local shares since Dec. 2, according to the data from Seoul bourse operator Korea Exchange. Their shift toward a buying mode apparently comes amid a heightened hope for a long awaited deal between the US and China that, if sign

MarketDec. 22, 2019

NK leader presides over expanded Central Military Commission meeting of Workers' Party

North Korean leader Kim Jong-un presided over an enlarged meeting of the Central Military Commission of the ruling Workers' Party and discussed "important organizational and political measures and military steps to bolster up" the armed fores, state media said Sunday.The meeting was held amid heightened tensions with the United States with Pyongyang threatening to seek a "new way" unless Washington comes up with a acceptable proposal in their nuclear negotiations by end of th

North KoreaDec. 22, 2019

N. Korea raps US official's human rights remarks

The North Korean foreign ministry on Saturday denounced a US official's remarks on its human rights conditions, which it claimed came at a time when Pyongyang-Washington relations "are reaching a highly delicate point.""Such malicious words which came at this time when the DPRK-US relations are reaching a highly delicate point will only produce a result of further aggravating the already tense situation on the Korean peninsula, like pouring oil over burning fire," the ministr

North KoreaDec. 21, 2019

Biegun suggests US remains open to talks with N. Korea

US Special Representative for North Korea Stephen Biegun returned to Washington on Friday after a dayslong trip to South Korea, Japan and China, suggesting he remains open to meeting with North Korean officials to discuss the country's denuclearization.Biegun arrived at Dulles International Airport on a flight from Beijing after what would have been an impromptu meeting with the North Koreans apparently did not materialize.The special representative traveled to the region as tensions have risen

North KoreaDec. 21, 2019

Trump says he discussed N. Korea with Xi

US President Donald Trump said Friday he spoke with Chinese President Xi Jinping about the two countries' trade deal and North Korea.In a tweet, he said they had a "very good talk ... concerning our giant Trade Deal," referring to the interim agreement the two countries reached last week to halt additional tariffs on Chinese goods and require more Chinese purchases of US farm and other products.It was unclear, however, what they discussed regarding North Korea."China has already s

North KoreaDec. 21, 2019

Govt. loses ruling over Daewoo Electronics takeover compensation

A British court ruled against Seoul's request to nullify an international ruling over a failed takeover of Daewoo Electronics in a decision that reaffirmed a hefty 73 billion-won ($63 million) compensation payout by the government.The High Court of Justice in England did not accept the South Korean government's request to cancel an arbitral tribunal case involving Iran's Dayyani family and the Republic of Korea, the Financial Services Commission said in a written statement.The legal dispute date

IndustryDec. 21, 2019

Korea Shipbuilding to set up engine joint venture with Saudi Aramco

Korea Shipbuilding & Offshore Engineering Co. said Saturday it plans to set up a joint venture to build engines with Saudi Aramco in March next year in the latest move to strengthen their cooperation.The JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom's eastern coast in September 2020, and the project is set to be completed in May 2022, according to the sub-holding company that governs shipbuilding units of Hyund

IndustryDec. 21, 2019