Foreigners remain net buyers of S. Korean bonds, stocks

Foreign investors continued to scoop up local shares and bonds in the first seven months of the year, the central bank said Tuesday, possibly reflecting their confidence in the country's strong economic fundamentals despite a steady decline in exports and sluggish growth.In the January-July period, foreigners purchased a net US$8.71 billion worth of local stocks while also purchasing a net $16.43 billion worth of local bonds, the Bank of Korea said in a report submitted to the parliamentary fina

MarketOct. 8, 2019

More than 1 in 10 S. Korean companies remain marginal in 2018: BOK

The number of companies unable to service their debts with earnings rose from a year earlier in 2018, posing a threat to the country's financial and economic stability, central bank data showed Tuesday.According to a report submitted by the Bank of Korea for parliamentary audit, the number of the so-called marginal companies came to 3,236 last year, up from 3,112 a year earlier.The number represents 14.2 percent of 22,869 companies here that are subject to external audit. Marginal firms refer to

EconomyOct. 8, 2019

Trio win medicine Nobel for work on how cells adapt to oxygen

STOCKHOLM (AFP) -- Three researchers from the United States and Britain on Monday shared the Nobel Medicine Prize for research into how human cells sense and adapt to changing oxygen levels, opening up new strategies to fight such diseases as cancer and anaemia.Americans William Kaelin and Gregg Semenza, and Britain's Peter Ratcliffe, split the nine million Swedish kronor ($914,000, 833,000 euros) award.While the fact that humans need oxygen to survive has been understood for centuries, how

World NewsOct. 8, 2019

US prefers a 'big deal' with China: Trump

WASHINGTON (AFP) -- President Donald Trump said Monday he would prefer to strike a comprehensive trade bargain with China, in comments days before top US and Chinese officials are due to resume trade talks in Washington.But with little sign the two sides have made progress in bridging the distance between them, speculation has mounted in recent months they may reach a deal which addresses only some of Washington's extensive grievances."I think it's not what we prefer at all. My inclination

World NewsOct. 8, 2019

Samsung Electronics' Q3 earnings more than halve, beat market consensus

Samsung Electronics Co. said Tuesday its operating earnings plunged 56 percent in the third quarter from a year earlier, mainly hit by continuing falls in global chip prices, but its performance was better than the market had expected.The operating profit was estimated at 7.7 trillion won ($6.4 billion) in the July-September period, according to its earnings guidance. The figures were above market expectations of 6.99 trillion won, according to the report by Seoul-based financial market tracker

IndustryOct. 8, 2019

Korea's current account surplus narrows in Aug.

South Korea's current account remained in the black for the fourth consecutive month in August, but its surplus narrowed sharply from a year earlier amid a steady decline in exports, central bank data showed Tuesday.The country's current account surplus came to $5.27 billion in the month, compared with a $8.55 billion surplus in the same month last year and a $6.95 billion surplus a month earlier, according to preliminary data from the Bank of Korea.The goods account surplus has been more than h

EconomyOct. 8, 2019

Seoul ministry, Philippine agency team up to support Filipino marriage migrants

Cultural understanding is key to multicultural marriages, says Justice Francisco P. Acosta, the chief of the Commission on Filipinos Overseas. The Commission on Filipinos Overseas, a presidential commission based in the Philippines, is working with Seoul’s Ministry of Gender Equality and Family to protect rights of Filipino marriage migrants in South Korea.Speaking to The Korea Herald after a closed door meeting with the Gender Ministry in Seoul on Friday, Acosta emphasized the need for cu

Social AffairsOct. 8, 2019

North Korea warns against Security Council meeting on missile tests

UNITED NATIONS (AFP) -- North Korea warned Monday it would not "sit idle" if any attempt is made at the UN Security Council to raise the subject of its "self-defensive measures," an apparent reference to its recent missile tests.Three European countries -- Britain, France and Germany -- called for a closed door Security Council meeting Tuesday to discuss North Korea's test last week of a sea-launched missile, saying it was a "serious violation" of UN resolutions.Nor

North KoreaOct. 8, 2019

North Korea boat collides with Japan sea patrol; 60 crew rescued

TOKYO (AFP) -- Around 60 members of a North Korean fishing boat were rescued Monday after it sank following a collision with a Japanese patrol vessel, local media said.The North Korean ship -- believed to illegally fishing in Japanese waters -- capsized after the collision, the coast guard said.Satoshi Kuwahara, a Japanese fisheries agency official, told reporters the patrol boat Okuni had earlier warned the North Korean vessel to leave the area.All of the estimated 60 crew members aboard the No

North KoreaOct. 8, 2019

Trio win medicine Nobel for work on how cells adapt to oxygen

STOCKHOLM (AFP) -- Three researchers from the US and Britain on Monday shared the Nobel Medicine Prize for research into how human cells sense and adapt to changing oxygen levels, opening up new strategies to fight common diseases such as cancer and anaemia.   William Kaelin and Gregg Semenza of the US and Britain's Peter Ratcliffe split the nine million Swedish kronor ($914,000) award.While the fact that humans need oxygen to survive has been understood for centuries, how the body reg

World NewsOct. 7, 2019

South Korea's annual greenhouse emissions hit record high in 2017

South Korea's annual greenhouse emission reached a record high of 709.1 million tons in 2017, a government environment agency said Monday.   The Greenhouse Gas General Information Center, under the Ministry of Environment, disclosed the emissions results after getting confirmation by a government committee in charge of controlling greenhouse gas.The output marks growth of 2.4 percent from 2016 when the corresponding figure came to 692.6 tons, according to the center.It is also the firs

Social AffairsOct. 7, 2019

[Graphic News] S. Korea ranks 20th in average wealth per capita

　South Korea ranked 20th out of 53 countries surveyed by German insurer Allianz Group in terms of per capita financial assets last year, according to a report from the group.　According to the recently released “Allianz Global Wealth Report,” Koreans’ financial assets stood at an average of 39 million won ($33,000) per person in 2018, slightly up from a year earlier.　Last year, the United States topped the list with per capita financial assets of 240 million won, followed by Swi

MarketOct. 7, 2019

[Herald Design Forum 2019] Alex Mustonen, artist who reinvents everyday structures, materials

Alex Mustonen, co-founder of New York-based studio Snarkitecture, is a creator of unconventional objects and spaces, merging different disciplines, including art and architecture.  Mustonen and his colleagues at Snarkitecture -- Daniel Arsham and Ben Porto -- are widely known for their works that reinterpret everyday structures and materials, transforming them into something utterly new to invite visitors to engage with their surroundings.At Herald Design Forum 2019, Mustonen will talk abou

Arts & DesignOct. 7, 2019

[Herald Design Forum 2019] An alternative approach to urban rejuvenation

Instituting an urban renewal plan, especially in a top-down manner, runs the risk of disregarding the actual needs of the people living in the city, or missing the potential benefits that can be derived when the community is engaged in the redevelopment process. The London-based studio Assemble takes a bottom-up approach, setting out to reinvigorate urban areas in ways that benefit communities. Founded in 2010, Assemble boasts a diverse and award-winning body of work. Its democratic and cooperat

Arts & DesignOct. 7, 2019

[Herald Design Forum 2019] Michael Govan, director of ever-evolving museum in LA

Michael Govan is the director of the ever-evolving Los Angeles County Museum of Art, and is in charge of all its aspects, from art programming and collection, to the expanding and upgrading it.At Herald Design Forum 2019, he will discuss the groundbreaking changes that the LACMA has undertaken and his visions for the art world in the future.　 The LACMA opened to the public on Wilshire Boulevard in 1965. William Pereira designed the three buildings on its campus, Ahmanson Building, Bing Center an

Arts & DesignOct. 7, 2019

[Herald Design Forum 2019] Do we need another planet?

Do we need another planet? Ignasi Ribas is preparing for that worst-case scenario in which we really do need an alternative option. Ribas is a scientist who leads an international team of exoplanet hunters at the Institute of Space Studies of Catalonia. His work focuses on exoplanet research and precise knowledge of the stars. Ribas is actively involved in instrumentation projects, both on Earth and in space, with the aim of discovering new planets similar to Earth. At Herald Design Forum 2019,

Arts & DesignOct. 7, 2019

[News Focus] Auto industry faces daunting challenge: Workforce reductions

South Korea’s auto industry, a key driver of the nation’s economic growth, is likely to go through throes of change as carmakers’ restructuring plans are gaining market support.An advisory group consisting of five independent industrial experts said Sunday in a report presented to the management and the labor union of Hyundai Motor that it would be inevitable for the largest carmaker here to reduce its manufacturing workforce by 20-40 percent by 2025. Stressing several changes

MobilityOct. 7, 2019

Moon urges speedy prosecution reform

President Moon Jae-in on Monday urged the National Assembly to process bills concerning the reform of the public prosecutors’ office. Speaking at a weekly meeting with his top aides, Moon said the public is calling for prosecution reform, despite holding differing views on related issues. “Even among the various opinions, the will of the people that comes together is that the need for prosecution reform is as urgent as guaranteeing the prosecution’s political neutrality,&r

PoliticsOct. 7, 2019

[Newsmaker] Cho Kuk probe takes center stage at parliamentary audit of prosecutors’ office

An audit of the Seoul Central District Prosecutors’ Office at the National Assembly saw a heated confrontation between the ruling and opposition parties Monday. The prosecutors in Seoul are leading a probe into corruption allegations surrounding Justice Minister Cho Kuk’s family, even as he has refused to quit.Ruling Democratic Party lawmakers accused the prosecution of conducting a “politically charged” and “biased” probe and of colluding with a main oppositi

PoliticsOct. 7, 2019

N. Korea's deployment of new SLBM would take years: Seoul's defense agency chief

North Korea would need several more years to operationally deploy a recently tested new submarine-launched ballistic missile, the chief of South Korea's defense development agency said Monday.Last week, North Korea claimed to have successfully conducted a test-firing of what it claimed was its "new-type SLBM Pukguksong-3" missile from waters off its eastern coast town of Wonsan, according to the North's Korean Central News Agency.  "It was the first time that the new version

North KoreaOct. 7, 2019