[Herald Design Forum 2019] Herald Design Forum 2019 calls attention to ecology, environment

Herald Design Forum 2019 will be held Oct. 10 at Grand Hyatt Seoul, under the slogan “Do We Need Another Planet?”Internationally recognized designers, artists and scientists have been invited to discuss issues related to ecology and the environment, as well as prospects for our future at this year’s forum, now in its ninth year.Opening this year’s forum is a keynote speech by actress Gong Hyo-jin, also an environmental activist who leads a local upcycling project titled &

Arts & DesignSept. 16, 2019

Main opposition leader has head shaved to demand justice minister's resignation

The leader of the main opposition Liberty Korea Party had his head shaved Monday in a show of protest, calling for the resignation of the justice minister, whose family is embroiled in corruption allegations.In South Korea, politicians sometimes have their heads shaved in public to express dissent over political and social issues.LKP chairman Hwang Kyo-ahn got his head shaved at a plaza in front of the presidential office Cheong Wa Dae in Seoul in his call for Justice Minister Cho Kuk to step do

PoliticsSept. 16, 2019

LG Display taps LG Chem president as new chief

LG Display announced Monday the company’s incumbent chief tendered his resignation and that it has tapped a LG Chem executive as the new leader.Han Sang-beom, current vice chairman and CEO of the panel maker, expressed his willingness to step down from the post during an emergency meeting of the board of directors for the company, which is currently suffering deficits.The board accepted Han’s resignation and tapped Jeong Ho-young, chief operating officer of LG Chem, as the new CEO of

TechnologySept. 16, 2019

Game companies prepare new mobile titles for Q4

South Korean game companies are preparing to launch potential blockbuster mobile titles in the last quarter of this year, hoping to boost their bottom line.NCSoft is staking its bet on the mobile 3D massively multiplayer game Lineage2M -- the game investors and venture capitalists as well as fans of the original Lineage game have been doggedly asking about from the beginning of this year.Advance sign-ups for Lineage2M began Sept. 5 and broke the 1 million threshold within seven hours, then escal

IndustrySept. 16, 2019

Fiscal spending has multiplier effects on economy: BOK

The government’s fiscal spending has a multiplier impact, augmenting the economy by about 1.3 times over five years, central bank data showed Monday.In a recent study by the Bank of Korea, the multiplier effects of government spending on the domestic economy stood at 1.27 over five years.The given index means that every 1 trillion won ($844 million) spent by the government will generate 1.27 trillion won in gross domestic product during the period.When the figure is low, it means that expa

EconomySept. 16, 2019

Travel like a local on Jeju Island

JEJU ISLAND -- Jeju Island, a popular travel destination both for South Koreans and foreigners, has seen a surge of tourists in recent years. Accessible by an 80-minute flight from Seoul, around 15.4 million tourists visit the island each year. In fact, the Seoul-Jeju route is one of the most active flight routes anywhere in the world. As a result, Jeju residents are struggling with the drawbacks of excessive tourism. Gentrification is a serious problem on the island, where the amount of tr

TravelSept. 16, 2019

[Stuart Rothenberg] Why working-class whites aren’t giving up on Trump

“In some countries, working-class groups have proved to be the most nationalistic and jingoistic sector of the population,” wrote the highly esteemed sociologist and political scientist Seymour Martin Lipset -- 60 years ago last month.In his seminal article “Democracy and Working-Class Authoritarianism,” which appeared in the August 1959 issue of the American Sociological Review, Lipset observed that many in the working class were “in the forefront of the struggle a

ViewpointsSept. 16, 2019

[Shuli Ren] What’s worse than corrupt billionaires? Socialism

What’s worse than billionaires who bribe government officials? The “Gangnam Left,” stock pickers may say.The term, and subject of a book by Chonbuk National University professor Kang Jun-man, is a dig at South Korea’s wealthy elite who advocate socialist policies, such as boosting the minimum wage and spending billions to create public-sector jobs. Some of these technocrats have found themselves in hot water recently: President Moon Jae-in’s recently appointed justi

ViewpointsSept. 16, 2019

[News Brief] Man sent to prosecutors for attacking Japanese woman in Seoul

The police sent the case of a South Korean man in his 30s to the prosecution Monday, seeking indictment on charges of physical assault and verbal insult.The Seoul Mapo Police Station said the 33-year-old suspect, whose name has not been disclosed, is accused of physically and verbally attacking a 19-year-old Japanese passerby near Hongdae Subway Station on Aug. 23. Pictures and video of the man grabbing the woman by the hair and making malicious statements were posted on social media the same da

Social AffairsSept. 16, 2019

Hyundai Heavy unit to sell assets, shares to improve financial status

Hyundai Electric & Energy Systems Co., a power equipment maker under Hyundai Heavy Industries Group, said Monday it will sell assets and shares to improve its financial status. The company said it plans to raise 150 billion won ($126 million) by selling new stocks and secure an additional 150 billion won by selling assets in an effort to enhance its financial soundness.  The proceeds from its asset sales will be mainly used to pay its debts, with some of them to be invested into its res

IndustrySept. 16, 2019

[KH explains] What is prosecution looking for in its probe of Cho Kuk family?

The prosecution’s investigation into corruption allegations surrounding Justice Minister Cho Kuk’s family gathers steam this week with the minister’s wife likely to be called in for questioning sometime soon. 　Here are some key points concerning the probe.　Q. What is being investigated? 　Prosecutors on Monday sought a formal arrest warrant for a relative of Justice Minister Cho Kuk as part of a widening probe into corruption allegations surrounding the minister’s family,

Social AffairsSept. 16, 2019

N. Korea expects talks with US likely to take place in a few weeks

A North Korean official said Monday that working-level talks with the United States will likely take place "in a few weeks" but emphasized that discussions on denuclearization will be possible only after all threats to its regime are fully removed. In a statement carried by the Korean Central News Agency, the director-general of the North Korean foreign ministry's department of American affairs also warned that it will be the US that determines whether the upcoming meeting serves

North KoreaSept. 16, 2019

YouTube accounts for nearly 90% of copyright violation accusations: lawmaker

　Copyright violation accusations filed by the country’s major broadcasters number over 150,000 so far this year, with nearly 90 percent against global video-sharing platform YouTube, a lawmaker said Monday 　Citing data from the Korea Communications Commission, Rep. Noh Woong-rae of the Democratic Party of Korea said as of last month there were 153,081 requests made by broadcasters for the media watchdog to address copyright infringement. 　The broadcasters, which include four territorial br

TechnologySept. 16, 2019

Korea’s collaborative streaming service to begin Wednesday

　South Korea’s three territorial broadcasters and mobile carrier SK Telecom held an event Monday to mark the launch of a massive video streaming service Wednesday, with an aim to attract 5 million paid subscribers by 2023. 　The heads of the broadcasters and SK Telecom gathered in Seoul to celebrate the launch of their new over-the-top video service Wavve, which combines SKT’s Pooq and the broadcasters’ Oksusu into one integrated platform.　The participants pledged to develop Wav

TechnologySept. 16, 2019

Pyongyang confirms ready to resume talks, but gives conditions

The long-stalled US-North Korea working level talks on denuclearization could take place soon, a senior North Korea official signaled in a statement carried by the Korean Central News Agency on Monday that also set out conditions for the resumption of dialogue.The director general of the North Korean Foreign Ministry’s department of American affairs said working-level talks will likely take place in a few weeks. He said the two countries may forge closer relations or hostility depend on wh

North KoreaSept. 16, 2019

Moon stresses supporting US-NK dialogue

Ahead of his trip to the US, President Moon Jae-in’s role in resolving North Korean issues is once again in the spotlight as Pyongyang reaches out to Washington for a dialogue. The South Korean president is set to head to the US to attend the UN General Assembly and hold a summit with US President Donald Trump on Sunday.  “The unchanging trust among the leaders of the South, the North and the US and resolve for peace will be the power that drives the Korean Peninsula peace

North KoreaSept. 16, 2019

Samsung F&M Insurance launches long-term disability insurance

Samsung Fire & Marine Insurance said Monday it was granted a six-month exclusive license to offer long-term disability insurance in South Korea, making the firm the first to provide such a policy with a coverage period of more than three years. Long-term disability insurance allows workers to receive a portion of their salary if they are unable to work for a period deemed to be long by the insurance company, compared to short-term disability policies that usually require a waiting or elimina

MarketSept. 16, 2019

YG to return W67b investment to LVMH

YG Entertainment -- recently shaken by a police investigation into its former CEO Yang Hyun-suk -- is expected to return an investment worth 67 billion won ($56.5 million) related to redeemable convertible preferred shares to French luxury giant LVMH next month, local reports said Monday. According to reports citing financial industry sources, the repayment date set for LVMH’s holdings of 1,359,688 redeemable convertible preferred shares of the entertainment agency is slated for Oct. 16. L

MarketSept. 16, 2019

South Korea closely monitors Aramco setback

The South Korean government and oil refineries held an unscheduled meeting Monday in response to the setback of Saudi Arabian oil facilities being hit by drone strikes, agreeing that there will be no supply issues for the time being and pledging to closely watch developments.The Ministry of Trade, Industry and Energy convened the emergency meeting with local oil refiners -- S-Oil, Hyundai Oilbank, GS Caltex and SK Innovation -- to inspect supply issues, after President Moon Jae-in ordered the go

IndustrySept. 16, 2019