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

US Ambassador Harris says alliance with S. Korea remains 'strong, vibrant'

US Ambassador to South Korea Harry Harris said Tuesday that the alliance between the two countries remains strong and vibrant as they work together to ensure peace and stability on the Korean Peninsula and beyond.Harris made the remarks in the written version of his keynote speech for a seminar organized by the Association of the Republic of Korea Army and held in Seoul on the alliance. He was absent from the forum "due to pre-arranged travel outside of Korea," an embassy spokesperson

Foreign AffairsOct. 15, 2019

Benz joins mobility trend with new Mercedes-Benz Mobility Korea

Daimler Mobility AG -- a subsidiary of Daimler AG, which owns Mercedes-Benz -- has established Mercedes-Benz Mobility Korea to offer mobility solutions in Korea, the firm said Tuesday.The new entity by the mobility unit of the Daimler AG, which recently changed its name from Daimler Financial Services AG to Daimler Mobility AG, will focus on providing digitalized customer service and premium mobility products, MBMK said. MBMK will kick off in Korea with the launch of a premium long-term car rent

MobilityOct. 15, 2019

LG Chem biggest beneficiary of subsidy for innovation

LG Chem was the biggest beneficiary of government subsidies for innovative pharmaceutical firms last year, according to the National Assembly’s Health and Welfare Committee on Tuesday. The government doled out subsidies of 92.2 billion won ($78 million) to 45 pharmaceutical firms carrying out innovative projects in 2018. LG Chem got 13.6 billion won, followed by Daewoong Pharmaceutical (9.2 billion won), Chong Kun Dang (9.1 billion won), Viromed (8.9 billion won), Celltrion (6.8

IndustryOct. 15, 2019

[News brief] 30 school buildings nationwide structurally unsound: report

Thirty school and affiliated institute buildings across the nation were rated as structurally unsafe and unsuitable for use, an Education Ministry report showed Tuesday. A total of 30 buildings used by schools or school-affiliated-kindergartens received the two lowest safety ratings -- D and E -- in a safety evaluation conducted by the government, according to the report, which was obtained by Bareunmirae Party lawmaker Rep. Lee Chan-yeol and presented to the National Assembly’s Education

Social AffairsOct. 15, 2019

Suspect in decades-old murders booked, case to be sent to prosecutors

SUWON, Gyeonggi Province -- Police said Tuesday that Lee Chun-jae, 56, has been booked in connection with a series of rape-murders in the 1980s and early '90s and his case will be referred to prosecutors despite the expired statute of limitations.The Gyeonggi Nambu Provincial Police Agency confirmed in a press briefing Tuesday morning that Lee’s status was changed from “suspect” to “accused” as of Monday, after authorities judged that his account of the crimes in qu

Social AffairsOct. 15, 2019

[News brief] Teens booked in beating, extortion case

Three runaway teenagers are accused of extorting money from a man after luring him with the promise of sex for money. The Incheon Samsan Police Station said Tuesday that it had booked three teenagers without detention the previous day on charges of “special robbery” and were seeking an arrest warrant for one of the three, a 15-year-old boy they described as the main culprit. The term “special robbery” refers to a robbery where two or more people team up and threaten their

Social AffairsOct. 15, 2019

[Herald Review] Classical music lifted up by circus performance

Accompanied by Wagner’s “Ride of the Valkyries,” an aerialist in red trousers flew high above the conductor, the orchestra and the audience. He danced in the air -- suspended midair as he held onto a piece of red silk fabric -- looking like an incarnation of a true Valkyrie.Circus troupe Cirque de la Symphonie took the stage at the Lotte Concert Hall over the weekend, giving three performances. The Georgia-based production company, founded in 2005, presents circus movements cho

PerformanceOct. 15, 2019

Cabinet passes prosecution reform plans

The government on Tuesday approved partial restructuring of the prosecutors’ office proposed as part of prosecutorial reform plans. The approval, given at the Cabinet meeting presided over by Prime Minister Lee Nak-yon, comes a day after Cho Kuk resigned as justice minister, hours after announcing his prosecutorial reform plans. At the Cabinet meeting, the revision of the regulation on the administrative bodies of the prosecutors’ office was approved. As a result, four of the se

PoliticsOct. 15, 2019

S. Korea, US stage more combined marine exercises this year

South Korea and the United States carried out more combined marine exercises in 2019 than in previous years, the Marine Corps said Tuesday.The allies conducted 24 rounds of the Korea Marine Exercise Program this year, up from 11 in 2018 and 17 in 2017, the service said in a report presented to the National Assembly for an audit. Next year, the two sides are planning to hold 22 rounds of the KMEP drills, it added. The exercise is designed to bolster defense of South Korea's northwestern border is

DefenseOct. 15, 2019

Opposition resists launching agency to probe officials

Following Justice Minister Cho Kuk’s resignation Monday, the Liberty Korea Party reiterated its opposition to establishing a separate agency for the investigation of crimes by senior government officials.The bill to set up the agency is among the fast-tracked bills on prosecution reform, which the main opposition party insists should be reconsidered from square one.The Liberty Korea Party and minor opposition Bareunmirae Party have accused the ruling Democratic Party of trying to stop the

PoliticsOct. 15, 2019