Kim Jong-un says pain caused by US turned to rage

North Korean leader Kim Jong-un rode up Paektusan on a horse, the North’s state media reported Wednesday, highlighting it as a historical event.Visiting upper Samjiyon County -- the birthplace of his father and predecessor Kim Jong-il, according to North Korea -- Kim said the pain the US is causing his people has turned to rage. He also stressed self-reliance.Releasing photographs of Kim on the back of a white horse on a snow-covered mountainside, the state-run Korean Central News Agency p

North KoreaOct. 16, 2019

Kakao Bank to raise W500b in capital by issuing new shares

South Korea’s internet-only lender Kakao Bank has decided to raise 500 billion won ($422.4 million) in capital by issuing new shares, the firm said Wednesday. The decision was approved by its board, as the firm seeks to improve its fiscal soundness.  According to Kakao Bank, it will issue 100 million new common stocks priced at 5,000 won per share. The record date for the shares is scheduled Nov. 5 and the stocks will be listed on Nov. 22. Once the capital increase process is complete

MarketOct. 16, 2019

Seoul subway union, company reach deal to resume operations

Unionized workers of Seoul Metro on Wednesday canceled their planned strike after reaching an agreement with the management, minutes before it was slated to start.The government-operated subway company and the union clinched the deal at 8:50 a.m. after more than six hours of negotiation, the union said.Seoul Metro operates Subway Lines No. 1-8, carrying over 7.2 million commuters daily. Wednesday’s deal includes hiking wages by 1.8 percent; employing 242 more personnel in regard to the ext

Social AffairsOct. 16, 2019

Inter-Korean soccer match: Stalemate reflects relations

It was a de facto defeat for South Korea. In a men’s World Cup qualifier match held Tuesday in Pyongyang, South Korea, No. 37 in the FIFA world rankings, failed to score a single goal against North Korea, No. 113, even with Tottenham Hotspur star Son Heung-min leading the charge. It was the first inter-Korean home game for North Korea in almost three decades, since the two Koreas played each other in 1990.   South Koreans couldn’t watch the Tuesday match or cheer for

Social AffairsOct. 16, 2019

Kim Nyung-man looks back on his early days in the ’70s

Kim Nyung-man, a 70-year-old professional photographer, is holding a solo exhibition that looks back on the early days of his 50-year career. Born in 1949 in Gochang, North Jeolla Province, Kim started his career as a photojournalist in 1978 at the Dong-a Ilbo, a local newspaper. Working as a photojournalist for 33 years, he covered the Blue House, the truce village of Panmunjom and the 1980 Gwangju Democratization Movement. The exhibition, which opened Monday, includes 36 of his early works fro

Arts & DesignOct. 16, 2019

Macallan releases Edition No. 5 in new color

Macallan has released a new whisky called Edition No. 5, in collaboration with the Pantone Color Institute, to demonstrate its craftsmanship and pioneering design, importer Edrington Korea said Wednesday. Inspired by Macallan’s natural color spectrum, the Pantone Color Institute developed a new color it has named “The Macallan Edition Purple” for the first time in the world, and applied it to the packaging of the latest whisky product, it added.The color symbolizes the whisky b

IndustryOct. 16, 2019

[From the Scene] Hanwha automation boosts solar efficiency　

JINCHEON, North Chungcheong Province -- At Hanwha Q Cells’ factory in Jincheon, North Chungcheong Province, there are hardly any workers. The five assembly lines -- 330 meters wide and 100 meters long -- are run by eight workers each. The high-quality solar cell and module manufacturer claims it is one of the most automated factories in the global industry.  “Automation is important. When an employee touches cells or modules, fingerprints or microcracks can be left on the produc

IndustryOct. 16, 2019

Korean executives getting younger: study

Executives at South Korea’s large businesses are fewer in number this year and are getting younger, a study found Wednesday.According to recruiting company Unico Search, Korea’s top 100 companies had a total of 6,932 executives, around 100 fewer than last year. The majority, 60 percent, were between the ages of 45 and 54. The most popular birth year for CEOs was 1962. The 27-person list of CEOs born that year includes Korean Air CEO Woo Ki-hong, GS Engineering and Construction CEO Li

IndustryOct. 16, 2019

[Noah Smith] Economics Nobel for three pragmatic poverty-fighters

This year’s economics Nobel prize went to three worthy economists: Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology and Michael Kremer of Harvard University. The prize, awarded “for their experimental approach to alleviating global poverty,” shows several important ways that the economics discipline is changing. A popular conception of economists is that they’re the high priests of the free market, downplaying the role of government and givin

ViewpointsOct. 16, 2019

‘To the Moon With Snoopy’: Uplifting ‘Peanuts’ characters arrive in Seoul

Lotte Museum of Art’s exhibition featuring the “Peanuts” gang will satisfy not just family visitors but also fans of fine art and pop art. “To the Moon With Snoopy” shows a wide range of works, from the original cartoon and animation works by Charles M. Schulz and Snoopy-themed decorations to contemporary Korean artists’ works featuring the “Peanuts” characters.  The first section of the show celebrates the 50th anniversary of Snoopy’s

Arts & DesignOct. 16, 2019

Moon stresses people’s role in democracy

President Moon Jae-in on Wednesday stressed the importance of the role the public played in the country’s democracy and promised the government’s support in achieving “better democracy.”  Speaking at a ceremony in Busan to commemorate the Busan-Masan Democratic Protests of 1979, Moon also stressed the need for the government’s “power organizations” not to lose sight of democracy, an apparent barb aimed at the prosecutors’ office. “Our de

Social AffairsOct. 16, 2019

[ASEAN-Korea summit] ASEAN-Korea Train Launch

ASEAN-KOREA TRAIN LAUNCH -- (From first, from fifth left to right) Secretary-General of the ASEAN-Korea Center Lee Hyuk, Deputy Minister of Finance and Economy of Brunei Ahmaddin Abdul Rahman, KOICA President Lee Mi-Kyung, Minister of SMEs and Startups Park Young-sun and Myanmar’s Minister for Information Pe Myint pose at the launch ceremony of the three-day ASEAN-Korea Train: Advancing Together program, which started its journey at Seoul Station on Wednesday. (ASEAN-Korea Center)

Foreign AffairsOct. 16, 2019

GS Group chairman calls for return to fundamentals amid uncertainties

GS Group Chairman Huh Chang-soo on Wednesday opened the fourth-quarter GS Group executive meeting with words of caution, calling for the company to return to fundamentals amid uncertainties. “Once the fundamentals are strengthened, a proper growth path will appear,” Huh said, citing a passage from the Analects of Confucius. The meeting was attended by some 150 executives and staff members of GS affiliates.During the meeting, Huh rolled out three key paths that GS Group should take du

IndustryOct. 16, 2019

Supreme Court finalizes suspension of FSC restriction on Samsung BioLogics

The Supreme Court of South Korea upheld earlier rulings to suspend the Financial Services Commission’s restrictions on Samsung BioLogics, citing fear of irreparable damage to the company.　Samsung BioLogics shares on Wednesday jumped just shy of 4 percent to 339,000 won ($285). The Supreme Court’s decision is in line with the earlier ruling from the High Court, which had declared at end-May, “If, according to the suggested restriction, an FSC-appointed auditor replaces top finan

IndustryOct. 16, 2019

[Herald Interview] Twinny to challenge global robotics heavyweights

In the global race for automation in logistics, unmanned mobile robots are playing an important role, largely with the assistance of an underlying system that varies from QR codes on the floor to beacon sensors on walls and wearable devices.South Korean startup Twinny is one company that is moving the other way by weaning its mobile robotic solutions off the system. By becoming independent, its robots can precisely locate themselves, detect a human to follow and execute the order-picking process

TechnologyOct. 16, 2019

Rival parties meet over bills to reform prosecution

Political parties launched a meeting Wednesday to discuss how to handle key bills designed to reform the prosecution amid partisan wrangling over the timing of their passage at parliament.The controversial bills that were placed on the fast track in late April refer to proposals to set up an independent unit to probe corruption allegations by high-ranking public officials and to give more investigative authority to police.The meeting brought together the floor leaders of the ruling Democratic Pa

PoliticsOct. 16, 2019

'League of Legends' to be available on mobile devices

US game developer Riot Games said Wednesday that its massively popular e-sports game "League of Legends" will be available on both mobile devices and consoles.It marks the first time since the game's launch in 2009 that the new version, called "League of Legends: Wild Rift," is coming to platforms other than computers.  The new game will be similar to the original version, although the user interface and buttons will be adjusted for mobile screens, the company said. Play

TechnologyOct. 16, 2019

S. Korea, Australia hold vice-ministerial talks on bilateral ties

Senior diplomats of South Korea and Australia held talks in Seoul on Wednesday and discussed joint efforts to boost bilateral cooperation in a range of areas including economy and regional security, the Australian Embassy in Seoul said. Yoon Soon-gu, deputy minister for political affairs at Seoul's foreign ministry, met with his Australian counterpart, Richard Maude, deputy secretary of the Department of Foreign Affairs and Trade's Indo-Pacific Group, the embassy said in a release.  Officia

Foreign AffairsOct. 16, 2019

LG Innotek develops first Qualcomm chip-based module for cars

LG Innotek announced Wednesday the company has developed a communications module for automobiles based on Qualcomm’s 5G chip as the first in the world. The 5G communications module, a combination of a communications chip, memory and radio frequency circuit, is a component that enables transmission of data between a vehicle and 5G base station. The module, as small and slim as a credit card, will enable sharing of real-time traffic information, precise location measurement and communication

TechnologyOct. 16, 2019