S. Korea’s sales of derivatives-linked securities fall 32% in Sept.

Sales of derivatives-linked securities in South Korea last month dropped nearly 32 percent on-month as snowballing controversy surrounding commercial banks’ sales of risky derivative products dampened investor sentiment, data showed Thursday.According to the Korea Securities Depository, the combined value of derivatives-linked securities, including derivatives-linked bonds, sold throughout September dropped to 1.4 trillion won ($1.2 billion), down 32.2 percent on-month.The value of the pro

MarketOct. 3, 2019

[News Focus] 2 in 5 South Koreans aged 50 or over

SEJONG -- It is widely known to the public that South Korea’s senior population is rapidly growing, as the government and media outlets have continued to raise awareness about the aged society and demographic changes.The percentage of Koreans aged 70 or over has surpassed 10 percent. Further, the percentage of those aged 65 or over -- who are classified as seniors -- has exceeded 15 percent.The situation of fast-aging is getting more critical, given the current figure for the population of

Social AffairsOct. 3, 2019

Posco crosses crude steel output milestone

South Korean steelmaker Posco said Thursday it has hit the 1-billion ton milestone of crude steel production since 1973, amid intensifying oversupply globally. The volume is equivalent to the material needed to produce 1 billion midsized cars or 20,000 units of Lotte Tower, the nation’s tallest skyscraper in Seoul.Posco began producing the first molten metal at its blast furnace in 1973. It produced 1 million tons of crude steel, supplied steel for 25,000 cars and provided 12,000 compensat

IndustryOct. 3, 2019

Samsung’s Q3 earnings likely to surpass W7tr

Samsung Electronics’ third-quarter earnings are in the limelight amid emerging signs of a recovery in demand for memory chips, according to industry sources Thursday. The South Korean tech giant is scheduled to announce its preliminary earnings guidance next week. Market analysts forecast it has posted an operating profit of over 7 trillion won ($5.8 billion) in the July-September period. Shinhan Financial Investment predicted in a report that the tech giant will post 60.64 trillion won in

TechnologyOct. 3, 2019

LG launches affordable LED 4K projector CineBeam

LG Electronics said Thursday the company has expanded its lineup of high-definition projectors by launching an LED 4K projector in addition to the laser versions. The LG 4K CineBeam meets the need of consumers who enjoy watching movies at home. It offers a large-size projected display of up to 140 inches.  The latest model uses four LED light sources unlike existing LED projectors by adding one more blue light, which enhances brightness and definition. Google Assistant and LG’s smart

TechnologyOct. 3, 2019

Invossa aftereffects course over to other gene therapy companies

The Ministry of Food and Drug Safety inspected six gene therapy companies as a follow-up measure to the Invossa issue, a wire report said Thursday.Invossa, a gene therapy for joint inflammation treatment by Kolon Life Science, was stripped of its sales approval in May this year after the company belatedly reported a mislabeling of the key cell used in the drug. Invossa obtained the MFDS approval in July 2017 and started commercial sale in November of the same year.While attempting to make inroad

IndustryOct. 3, 2019

AMP recognizes beauty of Saemoonan Church

Saemoonan Church, the oldest Presbyterian church in the country, was recognized with the Architecture MasterPrize, a prestigious architectural award given by the Farmani Group. The new church building in Gwanghwamun, central Seoul, was listed under the award’s Cultural Architecture category, announced Thursday.  The award introduced it as the “Mother Church” of Korea, referring to the history of it being the first organized church in the nation. Saemoonan Church was establ

Arts & DesignOct. 3, 2019

NK top nuke envoy arrives in Beijing possibly on way to talks with US

North Korea's chief nuclear negotiator arrived in Beijing on Thursday for a possible trip to Sweden for the envisioned denuclearization talks with the United States. The four-member North Korean delegation led by Kim Myong-gil was spotted at Beijing International Capital Airport upon arrival from Pyongyang on an Air Koryo flight.The officials are forecast to leave for the Swedish capital of Stockholm later in the day, as they were confirmed to have reserved Air China tickets bound for the city.

North KoreaOct. 3, 2019

US mulls giving North Korea 36-month reprieve on sanctions

The United States plans to offer a 36-month suspension of some sanctions on North Korea in exchange for shutting down the Yongbyon nuclear facility, according to a report by US online media Vox on Wednesday.The proposal is reportedly being considered for discussions between both countries when they meet for working-level talks this weekend.Vox also reported that US President Donald Trump promised North Korean leader Kim Jong-un during their meeting at Panmunjom in June that he would sign a decla

North KoreaOct. 3, 2019

Samsung, LG take top spots in Consumer Reports' best TV list

South Korea's top two electronics brands, Samsung Electronics Co. and LG Electronics Inc., took up four of the top-five recommended small flat-screen TVs in the United States, industry sources said Thursday.Among 32-inch flat-screen TVs available in the market, Samsung took up the top two seats, followed by LG in the third and fourth spots, according to Consumer Reports. Samsung's QLED 4K TV took the top position for its top-notch resolution and connectivity with other smart devices, the US indu

IndustryOct. 3, 2019

N. Korea gives no advance notice of SLBM test to intl. agency

North Korea failed to give prior notice to the international maritime body ahead of testing a mid-range submarine-launched ballistic missile this week, the Voice of America reported Thursday.On Wednesday, North Korea fired what it claimed as the "new-type SLBM Pukguksong-3" SLBM in waters off its eastern coast town of Wonsan, according to the North's Korean Central News Agency. The missile flew around 450 kilometers at a maximum altitude of about 910 km, according to Seoul's Joint Chie

North KoreaOct. 3, 2019

S. Korea, US, Japan agree to address mutual security concerns

The chairmen of the Joint Chiefs of Staff of South Korea, the United States and Japan agreed to address mutual security concerns during their meeting in Washington this week, the US JCS said Wednesday.The trilateral meeting on Tuesday -- involving South Korea's JCS Chairman Gen. Park Han-ki and his US and Japanese counterparts, Gen. Mark Milley and Gen. Koji Yamazaki -- came amid tensions over Seoul's decision to pull out of a military intelligence-sharing pact with Tokyo.The talks were arranged

DefenseOct. 3, 2019

Adorable monsters to decorate Seoul lake

First came a rubber duck. Then came a supermoon, a pair of swans and a human-shaped figure. This year, it's going to be a group of monsters that shimmer under moonlight.South Korean retail conglomerate Lotte and the Songpa Ward office said Thursday that gigantic figures of Seoul-based creative studio Sticky Monster Lab will decorate Seokchon Lake in southeastern Seoul from Oct. 3-27.The exhibition, called the Luna Project, is the latest in a series of larger-than-life figures that have decorated

CultureOct. 3, 2019

Busan film festival set to kick off 24th edition

The Busan International Film Festival will open its 24th edition in the southern port city of Busan on Thursday, filled with more than 300 worthwhile movies and various intriguing programs.Starting with the opening ceremony to be held at the Busan Cinema Center in the city, located 450 kilometers southeast of Seoul, the festival will kick off its 10-day run. The ceremony will be co-hosted by South Korean actor Jung Woo-sung and actress Lee Hanee. "The Horse Thieves. Roads of Time," a K

FilmOct. 3, 2019

Trace of African swine fever found in dead wild boar in DMZ

South Korea confirmed two more cases of the African swine fever on Thursday to raise the total number of cases to 13 in less than three weeks, and found traces of the deadly animal virus in a dead wild boar in the Demilitarized Zone.The latest case was reported from Gimpo, northwest of Seoul, according to the Ministry of Agriculture, Food and Rural Affairs. Earlier in the day, another confirmed case was reported from Paju, adjacent to the North Korean border.  Paju is where the country's fi

Social AffairsOct. 3, 2019

[Newsmaker] Another dead in Busan landslide; typhoon death tolls hits 10

The death toll is on the rise as rescue operations continue in the country’s southern regions, which were battered by Typhoon Mitag on Wednesday and Thursday.As of 7 p.m. Thursday, 10 people had been confirmed dead, four missing and eight injured, according to the Central Safety and Countermeasures Against Disasters.  The latest reported fatality was a man in Saha-gu, Busan, who was found dead under the wreck of a house that collapsed after a massive landslide occurred around 9 a.m. T

Social AffairsOct. 3, 2019

Prosecutors summon justice minister’s wife for questioning

Prosecutors in Seoul on Thursday grilled Justice Minister Cho Kuk’s wife for eight hours on various corruption allegations involving her family. The questioning stopped at around 5 p.m. at her request, citing health concerns.The Seoul Central District Prosecutors’ Office said Chung Kyung-shim was summoned at around 9 a.m. for questioning regarding allegations of manipulating her daughter’s college and medical school applications and shady investment in a private equity fund, as

PoliticsOct. 3, 2019

N. Korea says it successfully test-fired new-type SLBM

North Korea said Thursday that it has successfully test-fired a new-type submarine-launched ballistic missile, boasting that the success "ushered in a new phase" in its self-defense capabilities just two days before resuming nuclear talks with the United States.The North's Academy of Defence Science succeeded in test-firing the "new-type SLBM Pukguksong-3" in the waters off Wonsan Bay of the East Sea on Wednesday morning, the Korean Central News Agency said, adding that the m

North KoreaOct. 3, 2019

[Graphic News] Customs stopped over 2,300 drug smuggling attempts since 2015

　The number of drug smuggling cases in South Korea over the past five years exceeded 2,300, data from the Korea Customs Service showed.　A total of 2,337 instances of drug smuggling were discovered here from 2015 to July this year, resulting in the seizure of illegal drugs with a total street value of 1.43 trillion won ($1.2 billion), according to the customs data released by Rep. Shim Jae-cheol of the main opposition Liberty Korea Party.　The number of drug smuggling attempts to come to the atten

Social AffairsOct. 2, 2019

North Korean projectile could be submarine-launched ballistic missile

An unidentified projectile fired into the East Sea by North Korea on Wednesday appears to be a submarine-launched ballistic missile, South Korean authorities said, raising the possibility that Pyongyang’s missile capabilities may be improving. Seoul’s Joint Chiefs of Staff said it detected Pyongyang’s firing of an unidentified ballistic missile in the waters off the northern part of Wonsan, North Korea’s Kangwon Province, toward the East Sea at 7:11 a.m.While further anal

North KoreaOct. 2, 2019