[Weekender] Vietnamese coffee and sandwiches in Seoul

To refresh oneself with Vietnamese coffee in Seoul, Cong Caphe in Yeonnam-dong, western Seoul, is the prime destination. The successful Hanoi-based cafe chain offers visitors a glimpse inside Vietnamese cafe culture, serving various Vietnamese-style coffees and coffee variation drinks, such as the famous Coconut Smoothie Coffee. Coconut Smoothie Coffee features sweet coffee mixed with a coconut-flavored smoothie. In this rather chilling weather, the drink can be brain freezing, but the flav

FoodNov. 22, 2019

[Weekender] Taiwan arrives on Korean cafe scene

Myeong-dong is a symbolic battlefield in Korea’s franchise world. To be considered successful, one has to have a store or two there -- ideally right at the center of the busy tourist district. New store openings and closures are watched by many for signs of changes in food trends. A visit to the area earlier this week revealed the increased presence of one particular Asian country among Myeong-dong’s cafes and dessert shops -- Taiwan. Taiwanese tea chain Tiger Sugar has an impre

FoodNov. 22, 2019

Esper calls on S. Korea, Japan to show leadership to resolve dispute

US Defense Secretary Mark Esper on Thursday called on South Korea and Japan to show leadership and resolve their differences ahead of the planned termination of a military intelligence-sharing pact between the two Asian allies.The General Security of Military Information Agreement, set to expire at midnight Friday, is seen by Washington as a key platform for trilateral security cooperation against North Korea's nuclear threat and China's military rise."My message to them was, look, I unders

DefenseNov. 22, 2019

Top diplomats of S. Korea, US hold phone talks on GSOMIA, defense cost sharing

The top diplomats of South Korea and the United States held telephone talks late Thursday and discussed a soon-to-expire military information-sharing pact between Seoul and Tokyo, and their ongoing defense cost-sharing negotiations, Seoul's foreign ministry said. The phone talks between Foreign Minister Kang Kyung-wha and US Secretary of State Mike Pompeo came just ahead of the planned expiration of the General Security of Military Information Agreement, set for Saturday.  The allies are al

DefenseNov. 22, 2019

Ex-minister grilled for 9 1/2 hours, remains silent on second summons

Former Justice Minister Cho Kuk was grilled by prosecutors for about 9 1/2 hours on Thursday for a second time, questioned in relation to his family’s alleged wrongdoings.The questioning, which took place at the Seoul Central District Prosecutors Office, comes a week after Cho attended the first questioning on allegations he may have been involved in some of the charges raised against his wife, Chung Kyung-sim. Chung, a university professor, was indicted on 15 counts related to a dubious p

PoliticsNov. 21, 2019

OECD cuts growth outlook for S. Korea to 2 percent

The Organization for Economic Cooperation and Development (OECD) on Thursday slashed its growth outlook for South Korea's economy this year to 2 percent amid a slowdown in global trade.The OECD's outlook represented a drop from its previous forecast of 2.1 percent in September. It said the South Korean economy would grow 2.3 percent in 2020, unchanged from its previous forecast."Economic growth will remain subdued, as the global slowdown and trade tensions hold back exports, while high unce

EconomyNov. 21, 2019

Moon wished for NK leader's participation in ASEAN summit to create int'l support for peace: Cheong Wa Dae

The office of President Moon Jae-in expressed regret Thursday that North Korea rejected an invitation for leader Kim Jong-un to visit South Korea for the upcoming summit with Southeast Asian nations, saying Moon wants a joint opportunity to drum up international support for the Korea peace process. Cheong Wa Dae was responding to Pyongyang's statement hours earlier that Kim has decided to not to attend the Busan event scheduled for next week. Moon sent a letter to Kim on Nov. 5 to thank him fo

PoliticsNov. 21, 2019

Local PEF chosen as preferred bidder to buy SKC Kolon PI

A local private equity fund was selected the preferred bidder on Thursday to acquire a controlling stake in SKC Kolon PI Inc., a joint venture between South Korea's SKC Co. and Kolon Industries Inc. that makes polyimide (PI) film. SKC and Kolon Industries said they've selected Glenwood PE as the preferred bidder to acquire their 54.06 percent stake in SKC Kolon PI. SKC and Kolon Industries each hold a 27.03 percent stake in the PI maker. Industry insiders speculate that the deal is worth ar

IndustryNov. 21, 2019

[Graphic News] S. Korea ranks among top OECD member countries in treatment of cancer: data

　South Korea ranks as one of the leading members among the Organization for Economic Cooperation and Development in the treatment of cancer, medical data showed.　The 2019 Health at a Glance report released by the Paris-based organization said Asia’s fourth-largest economy had the highest five-year survival rate for colorectal, rectal and stomach cancers among the 32 member states checked, the Ministry of Health and Welfare, which examined the data, said.　The cancer survival rate, which is

TechnologyNov. 21, 2019

[Around the Hotels] Promotions and Packages

Year-end afternoon tea at Park Hyatt Seoul Park Hyatt Seoul’s The Lounge is offering the “Festive Afternoon Tea” to celebrate the Christmas and year-end season. The afternoon tea set includes honey cheese panini, bulgogi sandwich and mushroom cream soup. Desserts that resemble winter-related icons such as present boxes and mini trees will also be included. The food items will be served on traditional Korean pottery plates. 　The promotion is available from 2 p.m. to 5:30 p.m. an

FoodNov. 21, 2019

Esper: Unaware of any plans to withdraw troops from S. Korea

US Secretary of Defense Mark Esper said Thursday he has not heard of any plans to withdraw some American troops from South Korea unless Seoul sharply raises its share of the cost of US troop presence, according to Reuters.Esper made the remarks during a trip to Vietnam when asked about reports by a South Korean daily, Chosun Ilbo, that the US is considering bringing a brigade home from the South should Seoul refuse to accept a fivefold increase, or around US$5 billion per year, in the upkeep of

DefenseNov. 21, 2019

Hyundai Capital expands presence in Brazil

Hyundai Capital, the financing arm of South Korea’s Hyundai Motor Group, is expanding its presence in Brazil with new retail financial products, officials said Thursday.The financial firm’s joint venture with Santander Brasil -- Banco Hyundai Capital Brasil -- which was launched in April this year, is set to unveil a new retail product that guarantees the residual value of a car, called “personal contract purchase.” It computes the expected price of used cars in the futur

MarketNov. 21, 2019

KB Kookmin Card acquires 80% stake in Indonesian credit finance firm

KB Kookmin Card, the credit card operator of KB Financial Group, will take over a major credit finance company in Indonesia, in a move to expand its presence in Southeast Asia. The company’s board has signed off a deal to purchase an 80 percent stake in Indonesia’s PT. Finansia Multi Finance for 94.9 billion won ($80.6 million), aiming to close the transaction by the first quarter of 2020, officials said Thursday.“The prime reason of the investment is to expand (the group&

MarketNov. 21, 2019

Biegun downplays N. Korea’s deadline for nuke talks

US Special Representative for North Korea Stephen Biegun said Wednesday that the US will continue its efforts to hold denuclearization talks with the North until the matter is resolved, dismissing the year-end deadline set by the regime. “We do not have a year-end deadline. ... That’s an artificial deadline set by the North Koreans, and unfortunately it’s a deadline that they’ve set upon themselves,” Biegun said before the US Senate Foreign Relations Committee durin

North KoreaNov. 21, 2019

S. Korea ready to support Asia's second-largest theme park: minister

South Korea's finance minister said Thursday that the government will spare no effort for the completion of a multi-billion-dollar project to build Asia's second-largest theme park in the country.South Korean retail giant Shinsegae is set to break ground for the 4.57 trillion-won ($3.8 billion) project to build a theme park in Hwaseong, about 40 kilometers southwest of Seoul, in 2021, with an initial opening in 2026 and the full opening in 2031.The project on a 4.2-square-kilometer plot of land

IndustryNov. 21, 2019

Kakao becomes largest shareholder of internet-only bank

Kakao is set to become the largest shareholder of its internet-only bank on Friday, marking it as the first nonfinancial services firm to have majority stake in a South Korean lender. The Financial Services Commission on Wednesday approved Korea Investment Holdings’ request to transfer 15 percent and 29 percent of its current 50 percent stake in Kakao Bank to Kakao and Korea Investment Value Asset Management, respectively. Korea Investment Value Asset Management is a second-tier subsidiary

MarketNov. 21, 2019

National Security Council convened as GSOMIA nears end

Top South Korean officials on Thursday continued reviewing Korea-Japan issues, with the looming expiration of the military intelligence sharing agreement with Japan. On Thursday, the National Security Council was convened, raising speculations that Seoul’s decision on the General Security of Military Information Agreement with Japan was likely to have topped the agenda.  GSOMIA is set to expire at midnight Friday following Seoul’s decision to forego the annual renewal in respons

Foreign AffairsNov. 21, 2019

[Anders Fogh Rasmussen] Building Euro-Japanese alliance of hope for world

Geography aside, Japan and the European Union have never been so close. With Europe’s long-standing transatlantic ties under strain, and China presenting a challenge as well as an opportunity, the EU has sought like-minded allies in the Pacific. And there is none better than Japan.The EU-Japan bond transcends mere interests: It is a relationship based on shared values of freedom, democracy and open markets. Today, these values are under threat. The United States has decided to transact wit

ViewpointsNov. 21, 2019

[Daniel Moss] Malaysia’s disappearing opportunity

When a nonagenarian political veteran runs a campaign promising change, it’s only a matter of time before that message comes full circle. For Malaysia’s Prime Minister Mahathir Mohamad, that means succession planning can’t be delayed any longer.In May 2018, Mahathir pulled off a stunning election victory to lead Malaysia for a second time. In defeating Najib Razak, who denies allegations of siphoning off hundreds of millions of dollars from a state investment fund, the new prim

ViewpointsNov. 21, 2019