[Kim Seong-kon] We, too, can inadvertently become terrorists

Today we live in a violent world. Every day, war and terrorism are exterminating human lives somewhere on this planet. In advanced countries, violence is not tolerated, and is strictly prohibited by law. In many underdeveloped countries, however, violence is so rampant and omnipresent that people have no other choice than to live with it. Violence takes many forms. Some forms of violence are visible and obvious, and others are invisible, subtle, or inconspicuous. Experts say there are four

ViewpointsOct. 15, 2019

[Shuli Ren] Elliott and Blackstone enter hostile territory in Japan

A small $1.5 billion company is attracting the biggest movers in finance in what’s shaping up as the first high-profile foreign hostile takeover in Japan. If successful, it could wake up the sleepy $228 billion market of publicly listed real-estate companies.　The attention is on Unizo Holdings, until recently an obscure developer and hotel operator. The company has a big chunk of its office rental business, which accounts for about 90 percent of operating income, in Tokyo, where the vacanc

ViewpointsOct. 15, 2019

S. Korea, Japan to hold working-level talks amid tensions over trade, history

South Korea and Japan will hold working-level diplomatic talks in Seoul this week, Seoul's foreign ministry said Tuesday, in what appears to be another move to address tensions over history and trade.Kim Jung-han, director-general for Asian and Pacific affairs at the foreign ministry, will meet his Japanese counterpart, Shigeki Takizaki, on Wednesday afternoon to discuss issues of mutual interest, the ministry said. Their meeting comes amid growing hopes that Prime Minister Lee Nak-yon's planned

Foreign AffairsOct. 15, 2019

Korean firms embrace cloud computing to be competitive

With cloud computing technology advancing at a rapid pace, South Korean companies are also transforming the way they handle their data and operations.SK Group’s IT service affiliate SK C&C said Monday it plans to convert 80 percent of its parent company’s business operations to a cloud-based system. For this, it has acquired about 20 percent stake in local cloud service provider Glucose. The decision is designed to integrate Glucose’s Microsoft Azure cloud computing service

TechnologyOct. 15, 2019

[News Focus] 60% of Korean households have 1-2 members

SEJONG -- The growing number of single-person households in South Korea came to the fore three or four years ago, along with the expanding number of industries and services designed to accommodate them. This demographic change reflects the rapid growth in the number of seniors residing alone and falling marriage rates among people in their 30s and 20s.Simultaneously, low fertility rates among newlyweds have produced a sharp increase in the number of two-member households.The number of households

Social AffairsOct. 15, 2019

[Newsmaker] Military culls wild boars to stop spread of swine fever

South Korea’s Defense Ministry kicked off a joint operation Tuesday to shoot wild boars to stop the African swine fever from spreading near the border areas to North Korea, after infected carcasses were found. In a joint mission with the Environment Ministry, about 70 to 80 teams of 11 to 12 members each, will be dispatched to border regions, including Paju, Cheorwon and Yeoncheon to shoot down the wild boars with guns and traps, according to the Defense Ministry.Since the first case was c

Social AffairsOct. 15, 2019

S. Korea, US likely to hold 2nd round of defense cost-sharing talks next week

South Korea and the United States are likely to hold a new round of defense cost-sharing talks next week, diplomatic sources said Tuesday, in what would be the first meeting since a former financial technocrat took over as Seoul's chief negotiator.The new negotiator, Jeong Eun-bo, is said to be heading to Hawaii to meet his US counterpart, James DeHart of the State Department, for the talks on renewing the Special Measures Agreement, according to the sources. "We're at the final stage of co

Foreign AffairsOct. 15, 2019

Korea National Opera looks forward to greater stability, end to turbulence, under a new leader

The Korea National Opera’s newly appointed Artistic Director Park Hyung-sik, 66, announced four areas he intended to focus on during his term, at a press event held Tuesday at the Seoul Arts Center. They are balance and harmony; fairness and solidarity; expansion of the company; and social responsibility.Park, a former singer with more than 20 years of experience, previously led the Jeongdong Theater and the Uijeongbu Arts Center. He will be heading the state opera company for three years.

PerformanceOct. 15, 2019

Posco wins innovation prize at Steelie Awards

South Korean steelmaker Posco announced Tuesday it has bagged the innovation prize at the 10th Steelie Awards for its eco-friendly advanced resolution printing technology. This year’s Steelie Awards, hosted by the World Steel Association (worldsteel) was held Tuesday in Mexico’s northeastern city of Monterrey. Posco Group Chairman Choi Jeong-woo attended the awards ceremony.  Posco’s advanced resolution printing technology dubbed Posart, allows the firm to print high-defin

IndustryOct. 15, 2019

Samsung vs. LG spat continues on YouTube

The spat over TV technology between South Korean tech giants Samsung and LG has continued online, with Samsung hinting at the burn-in problem of LG’s organic light-emitting diode TVs, according to industry sources on Tuesday. Samsung recently posted a 50-second video clip on its YouTube channel, titled “TV Burn-in Checker.” Burn-in, widely known as a major weakness of OLED TVs, refers to the discoloration of pixels caused by displaying static images due to the characteristics o

TechnologyOct. 15, 2019

Viva Republica-led consortium reapplies for internet-only bank

Viva Republica, operator of mobile money transfer service Toss, said Tuesday that its consortium has applied for a business license to establish a new internet-only bank, making its second attempt this year.Its shot at winning is seen as more plausible this time, especially as the previous main rival -- a consortium led by brokerage Kiwoom Securities -- renounced its own bid. “We pioneered Korea’s fintech industry through Toss. Now, through Toss Bank, we plan to build a new internet-

MarketOct. 15, 2019

Wife of ex-justice minister diagnosed with brain tumor

The wife of former Justice Minister Cho Kuk has been recently diagnosed with a brain tumor and cerebral infarction, her legal representatives said Tuesday.Recent MRI tests showed that Cho's wife, a professor surnamed Chung, is suffering from the brain disease, according to her lawyers."We are currently checking the degree of severity," the legal team said.Chung is under a prosecution probe into allegations that she forged a school award to help her daughter enter medical school and was

Social AffairsOct. 15, 2019

[Photo News] Foreign Company Day

FOREIGN COMPANY DAY -- Winners pose for a photo on 2018 Foreign Company Day in Seoul on Nov. 5, 2018. This year on Nov. 4, the Ministry of Trade, Industry and Energy is hosting 2019 Foreign Company Day at Grand InterContinental Seoul Parnas. Organized by the Korea Foreign Company Association, the annual event is held to acknowledge foreign-invested companies and related organizations that have contributed to the domestic economy. (FORCA)

IndustryOct. 15, 2019

PGA Tour Rookie of the Year picked by fellow S. Koreans as favorite to win at home

SEOGWIPO -- With the PGA Tour making its annual stop in South Korea's Jeju Island this week, hometown hero Im Sung-jae was picked by his countrymen Tuesday as the title favorite.Im will be one of six full-time PGA Tour players from South Korea in the field at the CJ Cup @ Nine Bridges. The 72-hole, no-cut tournament with $9.75 million at stake starts Thursday at the Club at Nine Bridges.The 21-year-old was voted by his peers as the 2018-2019 PGA Tour Rookie of the Year last month, becoming the f

GolfOct. 15, 2019

SK Global Chemical to purchase Arkema’s functional polyolefins business

SK Global Chemical is set to acquire French chemical firm Arkema’s functional polyolefins business, in the latest move to boost its packaging business, the firm said Tuesday. The acquisition, worth 335 million euros ($369 million), is expected to be finalized by the second quarter of next year. The proposed deal is currently under review by antitrust authorities.“This will give SK Global Chemical the competitive edge in American and European markets, where packaging industries are hi

IndustryOct. 15, 2019

GS Caltex to launch first H2 station in Seoul

GS Caltex, a local oil refiner that has a vast network for energy distribution here, will open its first hydrogen refilling station in Seoul at a retail outlet that also houses other sources of energy such as electricity, liquefied petroleum gas and gasoline.Calling it Total Energy Station, the planned station will be built on 3,300 square meters in Gangdong, southeastern Seoul, to provide all sorts of energy needed for ground transportation. It will start operation in December.The hydrogen refi

MobilityOct. 15, 2019

BTS leader RM's special love of Korean paintings

When South Korea's biggest annual art show, the Korean International Art Fair, was on its course at the COEX convention center in southern Seoul on Sept. 26, a tall young man came to the venue, his face shaded under a cap.He turned to the show's booth allotted to Johyun Gallery and stood planted for a long while in front of flower and bird paintings by Korean master painter Kim Chong-hak. A gallery employee walked him through the collection, but it was only after the man left the exhibition that

PerformanceOct. 15, 2019

Korea aims to become world’s No. 1 green car provider, first to commercialize autonomous driving

South Korea aims to become the world’s No. 1 green car provider and the first country to start commercial operations of autonomous driving in the next 10 years, the government said Tuesday. It will achieve the goal by promoting the convergence of industries, implementing policy support and injecting a combined 60 trillion won ($50 billion) from the private and public sectors. Highlighting the nation’s leadership in the areas of batteries, hydrogen, semiconductors and IT technology, P

MobilityOct. 15, 2019

Kakao Bank to discuss capital raise at board meeting

South Korea’s internet-only lender Kakao Bank will discuss an upcoming capital increase at its board meeting, the firm’s spokesperson said Tuesday, as it seeks to improve its fiscal soundness, while resolving issues surrounding its shareholder structure. “We will discuss an upcoming capital increase at the board meeting scheduled Wednesday,” Kakao Bank spokesperson Hwang Eun-jae told The Korea Herald. “We believe the issue of raising capital is important now conside

MarketOct. 15, 2019