Korea's auto exports tipped to decline for 7th year

South Korea's auto exports are tipped to suffer a slump for the seventh consecutive year in 2019 in terms of volume due to lower demand in emerging markets, data showed Sunday. South Korean carmakers shipped 1.98 million units in the first 10 months of the year, down 0.4 percent from a year earlier amid an economic slowdown at home and abroad, according to the data compiled by the Korea Automobile Manufacturers' Association.The country's auto exports, since hitting a record of 3.17 million units

IndustryDec. 1, 2019

US flies reconnaissance plane over S. Korea

A US reconnaissance plane flew above the Korean Peninsula over the weekend, an aviation tracker said Sunday, in an apparent sign of beefed-up surveillance of North Korea following its recent test-firing of a multiple rocket launcher.The US Air Force's U-2S plane was spotted flying at an altitude of around 15,240 meters over the Seoul metropolitan area, northern Gangwon Province and central Chungcheong Province on Saturday, according to Aircraft Spots. The plane, nicknamed the Dragon Lady, is kno

DefenseDec. 1, 2019

N. Korea's trade reliance on China surges fivefold since 2001: data

North Korea's trade reliance on its traditional ally, China, has jumped more than fivefold since 2001, data showed Sunday, highlighting Beijing's status as a key patron for the cash-strapped regime under biting international sanctions.China's proportion of the North's overall external trade rose to 91.8 percent last year, compared with 17.3 percent in 2001, according to the data from an analysis report of the Korea International Trade Association. South Korea, once the North's second-largest tra

North KoreaDec. 1, 2019

[Foreign Execs in Korea] Audi VW Korea gears up to regain market leadership

The two-year hiatus in South Korea where Audi Volkswagen Group held years of market leadership has been a lesson to reorganize its operational structure and restore strength for another leap forward, according to a top executive. Audi VW Korea Group Managing Director Rene Koneberg told The Korea Herald that the company is “back on the track” to regain market leadership next year, armed with a wide range of lineups and customer services reinforced in line with restoration of public tr

MobilityDec. 1, 2019

New IMO rules, lower fuel prices unlikely to affect S-Oil: analysts

S-Oil, headquartered in Seoul and wholly owned by Saudi Aramco, is unlikely to be affected by concerns about lower fuel prices and stricter environmental rules, according to analysts.The new International Maritime Organization rules -- IMO 2020 -- lowering the limit of sulfuric content in bunker fuel to 0.5 percent from 3.5 percent will come into force in January. Refiners have been very worried, with the benchmark Singapore complex gross refining margin -- reflecting Asian refiners’ avera

IndustryDec. 1, 2019

Change in NK leader's fashion style seen as reflecting desire to craft unique image

A recent change in North Korean leader Kim Jong-un's fashion style is raising questions over whether it reflects his desire to craft a unique image of his own, eight years after he took the throne in a third-generation hereditary power succession.In a shift from his characteristic style reminiscent of those of his late grandfather and father, Kim was seen wearing a black leather trench coat while overseeing a test-firing of a super-large multiple rocket launcher Thursday.The relatively young lea

North KoreaDec. 1, 2019

NCSOFT's 'Lineage 2M' tops Google Play Store

"Lineage 2M," a new mobile massively multiplayer online role-playing game by online game maker NCSOFT Corp., was the most popular game app on the Google Play Store's game sector as of Sunday morning, the company said.The new mobile version of mega-hit game "Lineage II" was released Wednesday on Google's Android and Apple's iOS devices.The game has already topped Apple's app store upon release.But NCSOFT did not unveil the sales figure and other details."Lineage M,"

IndustryDec. 1, 2019

Korea's per capita national debt exceeds W14m

South Korea's per capita national debt exceeded 14 million won ($11,864) and is expected to double by 2028, data showed Sunday, amid concerns that such ballooning debt could weigh on the nation's fiscal health. According to the National Assembly Budget Office, per capita national debt stood at 14.18 million won as of Saturday. In comparison, per capita national debt was 7.23 million won in 2009. The office predicted that South Korea's national debt may rise to 1,490 trillion won in 2028, compare

EconomyDec. 1, 2019

Sales of Kia's K series sedans to surpass 5.5 m units in 10 years

Sales of Kia Motors Corp.'s K series midsized and large sedans are on course to reach a milestone with cumulative sales expected to exceed 5.5 million vehicles in 10 years since launching the brand, according to the carmaker Sunday. Kia Motors, which began selling the K7 large sedan in 2009, has sold 5.48 million vehicles of the K3 compact cars, K5 midsize sedans, and K7 and K9 large sedans so far this year. Over the past 10 years, Kia Motors has sold 2.53 million units of the K3, 2.44 million u

IndustryDec. 1, 2019

China accuses UN rights chief of inflaming Hong Kong unrest

HONG KONG (AP) -- China accused the UN high commissioner for human rights of emboldening "radical violence" in Hong Kong by suggesting the city's leader conduct an investigation into reports of excessive use of force by police.The UN commissioner, Michelle Bachelet, wrote in an opinion piece Saturday in the South China Morning Post that Hong Kong leader Carrie Lam's government must prioritize "meaningful, inclusive" dialogue to resolve the crisis.She urged Lam to hold an &quo

World NewsDec. 1, 2019

Hyosung TNS set to post record sales on ATM exports

Hyosung TNS, a technology unit of machinery-to-chemical conglomerate Hyosung Group, said Sunday it is on track to post record sales on expanded exports of automatic teller machines.Hyosung TNS expects to report an operating profit of 65 billion won ($55 million) on sales of 700 billion won for the year, jumping from 25 billion won and 500 billion won, respectively, a year ago. "Hyosung has provided customized ATMs to meet each market's separate demands, like the ones delivered to Nigeria th

IndustryDec. 1, 2019

Samsung to roll out Galaxy Fold in more countries

Samsung Electronics Co. is planning to launch the Galaxy Fold in more countries, including Brazil, New Zealand and Chile, as its first foldable device draws stronger-than-expected market response, industry sources said Sunday.According to the sources, the world's largest smartphone maker is considering releasing the device in some 30 countries by February next year. The tech giant has already rolled out the Galaxy Fold in 29 countries, including South Korea, the United States, Japan and France.

IndustryDec. 1, 2019

US says cryptocurrency expert violated N. Korea sanctions

NEW YORK -- Federal prosecutors have charged a cryptocurrency expert with violating economic sanctions against North Korea by presenting at a conference there this year after the US government denied his request to travel to Pyongyang.Virgil Griffith, 36, was awaiting a federal court appearance Friday in Los Angeles, a day after he was arrested at Los Angeles International Airport.Griffith is an American citizen but lives in Singapore. Messages were sent to Griffith‘s defense attorney seek

North KoreaNov. 30, 2019

Ruling party vows ‘strong, emergency action’ to pass key bills at parliament

The ruling Democratic Party said Saturday it‘ll start taking “strong, emergency action” to have key bills passed at the parliament, in response to the main opposition party’s threat to start a filibuster to block votes on them.DP Rep. Lee In-young, the party‘s floor leader, made the remark during a meeting of party leaders at the National Assembly, which followed an attempt by the Liberty Korea Party on Friday to use a filibuster to prevent votes on fast-track bills

PoliticsNov. 30, 2019

K-pop stars to walk fans through major Korean tourist spots

Three K-pop idols, including members from boy band NU‘EST, have joined a tourism promotion campaign to walk fans and YouTube users through major Korean tourist spots.Two NU’EST members, Hwang Min-hyun and Ren, as well as the soloist Ha Sung-woon joined the video campaign operated by Seo Kyung-duk, a professor at Sungshin Women‘s University in Seoul, and sponsored by the state-run Korea Tourism Organization.The three stars are the first Korean TV entertainers who have joined the

PerformanceNov. 30, 2019

City to fine high-emission cars in downtown Seoul starting December

The Seoul city government will issue penalties to drivers of cars that emit large volumes of carbon dioxide in central Seoul starting next month as part of its ongoing efforts to curb air pollution.Owners of vehicles that are categorized as Grade 5 in terms of emission will be fined 250,000 won ($212) when they drive in the city‘s so-called Green Transport Zones, which covers areas within the Seoul City Wall, according to the Seoul Metropolitan Government. The area within the Seoul City Wa

Social AffairsNov. 30, 2019

Hometown of popular football coach Park Hang-seo pushes to create Vietnam-style village

SANCHEONG, South Korea  -- Sancheong County in southeastern South Korea, which has gained fame as the hometown of Park Hang-seo, the popular South Korean head coach of Vietnam‘s national football team, will push to build a Vietnam-friendly village to attract more tourists from the Southeast Asian country, officials said Saturday.The South Gyeongsang Province county, about 360 kilometers southeast of Seoul, said it has mapped out a basic plan this year to create a Vietnamese village in

SoccerNov. 30, 2019

US set to press S. Korea, NATO over burden-sharing next week

WASHINGTON -- Next week promises to underscore the Trump administration‘s demands that allies pay more for their defense, with a new round of negotiations over South Korea’s contributions to the upkeep of American troops in the country and President Donald Trump‘s attendance at a meeting of North Atlantic Treaty Organization leaders.In Washington, negotiators from South Korea and the United States will hold a fourth round of talks on renewing a cost-sharing deal, known as the S

DefenseNov. 30, 2019

US calls on N. Korea to avoid provocations, return to nuclear talks

WASHINGTON -- The United States calls on North Korea to avoid provocations and return to negotiations on dismantling its nuclear weapons program, the State Department said Friday.The comment comes after North Korea fired two projectiles from a super-large multiple rocket launcher on Thursday in its 13th major weapons test this year.The top nuclear envoys of South Korea, the United States and Japan spoke by phone following the launch to share their assessments and coordinate future steps, Seoul&l

North KoreaNov. 30, 2019

S. Korea to build memorial inside DMZ to honor fallen Korean War heroes

A memorial to honor men in uniform killed during the 1950-53 Korean War will be built inside the Demilitarized Zone separating the two Koreas next month, the defense ministry said Saturday.The plan comes as the military officially wrapped up its eight-month project to retrieve remains of the deceased soldiers on Arrowhead Ridge in Cheorwon, some 90 kilometers northeast of Seoul. “To honor the sacrifice of deceased soldiers and to let the people better feel the changing DMZ from a zone of c

DefenseNov. 30, 2019