Biz sentiment worsens for Q4

South Korean manufacturers' business sentiment for the fourth quarter of the year worsened due to external uncertainties, a survey showed Monday.The business sentiment index, compiled by the Korea Chamber of Commerce and Industry, stood at 72 for the October-December period, slightly down from 73 the previous quarter, KCCI said in a statement. The BSI figure has stayed below the break-even threshold of 100 for the past 14 consecutive quarters. The last time the BSI was above 100 was in the third

EconomyOct. 14, 2019

Pentagon says up to 1,000 US troops to withdraw from northern Syria

WASHINGTON (AFP) -- The Pentagon said Sunday President Donald Trump had ordered the withdrawal of up to 1,000 troops from northern Syria -- almost the entire ground force in the war-torn country -- amid an intensifying Turkish assault on Kurdish forces.Defense Secretary Mark Esper said the move came after the US learned that Turkey was pressing further into Syria than had been expected.The Kurds -- with whom the US partnered to combat the Islamic State group -- later announced they had reached a

World NewsOct. 14, 2019

At least 26 dead after Typhoon Hagibis slams Japan

TOKYO (AFP) -- At least 26 people were killed by powerful Typhoon Hagibis, local media reported Sunday, a day after the ferocious storm slammed into Japan, unleashing unprecedented rain and catastrophic flooding.More than 100,000 rescuers, including 31,000 troops, were working into the night to reach people trapped after torrential rain caused landslides and filled rivers until they burst their banks.The destruction forced the Rugby World Cup to cancel a third tournament match, though a key

World NewsOct. 13, 2019

Russia will work with Saudi to stabilise oil market: Putin

MOSCOW (AFP) -- Russia will work with Saudi Arabia against any "attempt to destabilise" the oil market, President Vladimir Putin said in an interview broadcast Sunday, on the eve of a visit to Riyadh.Tensions in the region are high following attacks on oil installations in Saudi Arabia, which sent prices surging, and the seizure of tankers in the Gulf. "If anyone believes that acts such as the seizing of tankers or strikes against oil infrastructure could in any way affect the coo

World NewsOct. 13, 2019

S. Korean men's football team embarks on journey to N. Korea for World Cup qualifier

The South Korean men's national football team on Sunday began its journey to North Korea for a key World Cup qualifying match, a contest expected to take place under unusual circumstances.Coached by Paulo Bento, South Korea will first travel to Beijing on Sunday to pick up their North Korea visas and fly to Pyongyang on Monday. The much-anticipated Group H showdown between the Koreas is scheduled to kick off at 5:30 p.m. Tuesday at Kim Il-sung Stadium in the North Korean capital.It will be the S

SoccerOct. 13, 2019

Justice minister to unveil detailed prosecution reform scheme

Cheong Wa Dae, the government and ruling Democratic Party of Korea said on Sunday the Justice Ministry is to announce a plan that would reduce the prosecution’s special investigation units Monday.Top Cheong Wa Dae officials, Prime Minister Lee Nak-yon, Justice Minister Cho Kuk and ruling party lawmakers held a meeting at the National Assembly Sunday afternoon to address the next step in the reform of the prosecution, a chief Moon Jae-in administration agenda.Democr

PoliticsOct. 13, 2019

[Graphic News] Tether becomes most used cryptocurrency in world

　What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70 percent of all the digital-asset world’s market value, you’re probably wrong.　While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com shows that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. 　Tether’

World BusinessOct. 13, 2019

[Feature] Evergreen Unit remembered for peacemaking operations in East Timor 20 years ago

Two decades have passed since South Korean troops were dispatched to East Timor, officially known as Timor-Leste, on peacemaking operations in the newly independent country.While the Evergreen Unit of South Korea was stationed in East Timor from 1999 to 2003 to help it settle as an independent nation, traces of the troops’ legacy remain.When South Korea’s delegation from the Defense Ministry visited the country to commemorate the 20th anniversary of the deployment of the Evergreen Un

DefenseOct. 13, 2019

‘Traces of Black Sand,’ choreography looks at life, memories

The Korea National Contemporary Dance Company will perform a new production that fuses contemporary dance with traditional Korean music at Seoul Arts Center CJ Towol Theater from Nov 1-3. “Traces of Black Sand” is a collaboration between composer Ra Ye-song and KNCDC Artistic Director Ahn Sung-soo. The two have worked together on contemporary dance and traditional sounds since the 2017 KNCDC production of “Music for Rites - The Afterimages of the Rose.”“‘Trace

Arts & DesignOct. 13, 2019

[Bennet Ramberg] Whither nuclear-arms control?

Is nuclear-arms control unraveling? The 1987 Intermediate-Range Nuclear Forces Treaty has collapsed, the 2015 Iran nuclear deal is teetering, and North Korea has continued to expand its nuclear and ballistic missile arsenal. Worse, it is unclear whether the United States will stick with the New START Treaty when it expires in 2021. That agreement limits (at 3,000) the number of strategic weapons Russia and the US have pointed at each other.Fortunately, history offers some solace. During and afte

ViewpointsOct. 13, 2019

[Ramesh Ponnuru] Bad legal arguments against impeachment

Once again, Alan Dershowitz, a former Harvard Law School professor, is mounting a defense of US President Donald Trump against the threat of impeachment.In the past, Dershowitz has been willing to get creative in his legal arguments. After Trump said that he would appeal any impeachment attempt to the Supreme Court, Dershowitz claimed that it was “certainly possible” that the court would stop the Senate from holding a trial. Former Justice David Souter had, he explained, once written

ViewpointsOct. 13, 2019

[KH Biz Forum] Looking beyond today’s crises and into the future

South Korean business executives, policymakers and opinion leaders on Friday attended The Korea Herald’s second annual business forum to address the growing corporate risks in today’s business environment. This year’s forum was held at The Shilla Seoul under the theme “Korea in crisis: How to survive in an era of trade wars and industrial risks.” It took place amid slowing global economic growth and mounting uncertainties, including US-China trade tension and Ja

IndustryOct. 13, 2019

Cheong Wa Dae vows 'patient push' for materials industry growth

Cheong Wa Dae said Sunday it would continue a push to develop South Korea's materials, parts and equipment sector irrespective of Seoul's future ties with Tokyo.To that end, the government plans to launch R&D projects on 80 core items next year, according to Lee Ho-seung, senior presidential secretary for economic affairs.It will also revise an enforcement ordinance to expand tax deductions for new growth engines and original technologies, he said. "(We) will push patiently and consiste

IndustryOct. 13, 2019

Hyundai hires ex-Audi CEO for US operations of Genesis

Hyundai Motor has hired a former chief executive officer of Audi’s US division as the head of its luxury segment Genesis’ operations in North America, signaling the carmaker’s drive to expand its market presence in the world’s second-largest auto market.Mark Del Rosso, who led operations of luxury brands Audi and Bentley for two decades, will take the CEO position of Genesis’ US operations. He will lead the sales and marketing strategy of the brand under the command

MobilityOct. 13, 2019

Samsung Galaxy Fold available again in Korea, soon in Japan, China

The third batch of Samsung Galaxy Fold smartphones were set to be released in the Korean market Monday, drawing attention to the total volume of available units. Samsung was to begin taking orders for the foldable gadget on its homepage as well as some e-commerce platforms like 11st, eBay and Coupang at midnight on Sunday, according to the tech giant. The exact volume of the third batch has not been revealed, but industry officials estimate around 10,000 units would be rolled out. According to m

TechnologyOct. 13, 2019

Half of S. Korea’s savings deposits belong to top 1% of income earners

Of the combined savings deposits held by major banks in South Korea, nearly half belonged to the nation’s top 1 percent of income earners, a report from the Financial Supervisory Service showed Sunday. According to the report released via a minor opposition Bareunmirae Party lawmaker, 18 commercial banks operating in Korea held a combined 283.3 trillion won ($238.9 billion) on behalf of its clients in the top 1 percent income bracket, which accounted for 45.5 percent of the total deposits,

MarketOct. 13, 2019

Pyongyang ups pressure against Seoul, denounces joint military exercise with US

North Korea denounced South Korea’s combined military exercise with the United States on Sunday, saying it is “the most concentrated” security threat against its regime. In a column on North Korean propaganda website Uriminzokkiri, Pyongyang made issue of the recent remark by US Marine Commandant Gen. David H. Berger, who said the joint military exercise of US and South Korean marines has continued, in a seminar. ”The US and South Korea’s military warmongers said th

North KoreaOct. 13, 2019

Prime minister to attend Japanese emperor’s enthronement ceremony

Despite soured ties between South Korea and Japan, Prime Minister Lee Nak-yon will attend the Japanese emperor’s enthronement ceremony next week, the government said Sunday.According to the Prime Minister’s secretariat, Lee will visit Japan from Oct. 22 to 24 for the enthronement events of Japanese Emperor Naruhito. Lee will attend the enthronement banquet on Oct. 22, and another banquet hosted by Japanese Prime Minister Shinzo Abe on Oct. 23, the secretariat said in a statement.&nbs

Foreign AffairsOct. 13, 2019

Movies, dramas become new lucrative business for S. Korean internet companies

South Korea’s leading internet firms are seeking to boost their presence in the entertainment industry by capitalizing on online content popular here and overseas.Using their internet cartoons, K-pop streaming services and other web-based items, Naver and Kakao have been accelerating their efforts to monetize lucrative content by adapting them into movies and dramas. In addition to establishing drama studios and streaming platforms, the internet giants have acquired stakes in local enterta

IndustryOct. 13, 2019