Hyundai Steel on track to commercialize eco-friendly road paving

Hyundai Steel has succeeded in commercializing eco-friendly road paving using an electric furnace slag, the company announced Monday. The firm said it signed a technology-use agreement of slag asphalt concrete with local firm SG on the same day. The deal is to grant an exclusive license of Hyundai Steel’s patent to SG and the two firms will seek to expand slag asphalt concrete in the future. In 2016, Hyundai Steel acquired a patent by developing asphalt concrete made by recycling elec

IndustrySept. 2, 2019

Korea to complete ratification of FTA with UK before Brexit

South Korea is set to complete the ratification of a free trade deal with the UK at the National Assembly before the Brexit deadline of Oct. 31, officials said Monday. Since Britain voted to leave the European Union in June 2016, the Korean government has pushed for a bilateral deal with the UK to prevent the rupture of trade relations and ensure continuity.  On Aug. 22, the two nations signed a trade agreement that would allow businesses to keep trading freely after Brexit, marking the fir

EconomySept. 2, 2019

[Diplomatic circuit]Oman Embassy invites Korean students to foster cultural understanding

The Oman Embassy in South Korea held an open-house program to showcase its rich culture and history to students as part of its public diplomacy. Over 50 students from Sangam Middle School in Seoul participated in the event, “Welcome to Oman,” which was held Aug. 27 in cooperation with the education department of the Seoul Metropolitan Office. Omani Ambassador Mohamed Al-Harthy welcomed the guests and delivered a lecture titled “Oman the Country of Sindbad and Land of Luban

Diplomatic CircuitSept. 2, 2019

Drug probe on heir puts brakes on CJ Group succession

The only son of CJ Group Chairman Lee Jay-hyun is under investigation on charges of smuggling liquid marijuana, putting the brakes on the food-to-entertainment giant’s succession plan.Lee Sun-ho, the heir-in-waiting of CJ Group, the 14th-largest conglomerate here, was allegedly caught by the customs service at Incheon Airport on Sunday attempting to smuggle liquid marijuana in cartridges into the country. The case was transferred to the Incheon District Prosecutors Office, authorities said

IndustrySept. 2, 2019

BoA to hold Seoul concert in October

BoA will hold a stand-alone concert in Seoul next month, her agency said Monday.According to S.M. Entertainment, the singer will take the stage at the Olympic Hall within Olympic Park, southern Seoul, Oct. 26-27. It will be her first concert in South Korea since December.Tickets will be made available at local online booking website Yes 24 at 8 p.m. on Sept. 19, and members of her official fan club will be able to book the tickets two days earlier at 8 p.m. Sept. 17. Prior to the concert, BoA wi

PerformanceSept. 2, 2019

[Robert J. Shiller] The Trump narrative and next recession

US President Donald Trump concluded his remarks at the recent G-7 summit by inviting the assembled leaders to hold next year’s meeting at his Doral country club near Miami, describing a fantasy-like world of “magnificent buildings” whose “ballrooms are among the biggest in Florida and the best.” It was yet another instance of Trump’s public narrative, which has been on a rising growth path for nearly a half-century.One can observe this by searching Trump&rsquo

ViewpointsSept. 2, 2019

[Noah Smith] Of course there’s science in Malaysia

Some right-wing intellectuals believe that immigration harms US society by admitting people from cultures they consider inferior. The argument has a very old pedigree -- writing in 1896, Massachusetts Institute of Technology President Francis Walker warned against taking in “beaten men from beaten races.”This notion was always terribly wrong, and global economic development is offering added proof.In a recent interview, law professor Amy Wax reasserted a version of Walker’s hoa

ViewpointsSept. 2, 2019

[Graphic News] Quarter of world’s population facing extreme water stress

　Nearly a quarter of the world’s population lives in 17 countries facing extremely high water stress, close to “day zero” conditions when the taps run dry, according to a recent report.　The World Resources Institute’s Aqueduct Water Risk Atlas ranked water stress, drought risk and riverine flood risk using a peer-reviewed methodology.　Qatar, Israel, Lebanon, Iran, Jordan, Libya, Kuwait, Saudi Arabia, Eritrea, UAE, San Marino, Bahrain, India, Pakistan, Turkmenistan, Oman a

World NewsSept. 2, 2019

Golfzon makes foray into Vietnam

South Korea’s leading golf simulator maker, Golfzon, is seeking to enhance its business presence in Vietnam, riding on the sport’s growing popularity in the Southeast Asian country.By the end of the year, Golfzon plans to operate a total of 12 Vietnamese branches where people can play virtual golf at indoor facilities. Five branches have opened in the country since Golfzon began its business there last year. The company is also seeking to expand into the construction of outdoor golf

TechnologySept. 2, 2019

EDC Korea attracts 90,000 with creative stage designs

Electric Daisy Carnival Korea premiered last weekend, attracting some 90,000 festivalgoers for two days of electronic dance music at Seoul Land.The event, known as EDC Korea and hosted by US festival company Insomniac for the past 23 years, is based in Las Vegas but travels around the world to countries including Mexico, China and Japan. The global festival landed in South Korea for the first time this year at Seoul Land, an amusement park in Gwacheon, Gyeonggi Province, a 30-minute drive from c

PerformanceSept. 2, 2019

74 students hospitalized following gas leak

Seventy-four students at a high school in the southeastern city of Daegu were hospitalized Monday following a suspected gas leak, officials said.The affected students were in the school auditorium when they reported smelling gas, according to emergency officials in the city 300 kilometers southeast of Seoul.Around 800 students were attending the principal's inauguration ceremony in the morning when it happened.  Some of the students displayed symptoms such as vomiting, but none were reporte

Social AffairsSept. 2, 2019

[Newsmaker] Yoon and Cho, the rise and fall of icons

Prosecutor General Yoon Seok-youl and Justice Minister nominee Cho Kuk continue to dominate local headlines for starkly different reasons, with shifting support from liberals and conservatives.  Yoon gained fame as a lead investigator in the allegations that the National Intelligence Service interfered in the 2012 presidential election. He was then pushed away from the center of power at the prosecution, only to return to the public eye in 2016 as one of the lead investigators in the massiv

PoliticsSept. 2, 2019

Singapore Airlines appoints new chief in Korea

Singapore Airlines said Monday that Xavier Ho has been appointed as a new chief of the Korean branch. Ho, who joined the company in 2006 after studying civil engineering at National University of Singapore, has previously worked at Los Angeles, Colombo, Auckland, Jakarta and Osaka branches.Until recently, he led sales and operation in India as a manager at Singapore Airlines’ north Indian branch.The air carrier said Ho will help business growth in Korea and enhance customer services b

IndustrySept. 2, 2019

Hyundai’s sales in Europe race ahead of Toyota, Honda

Hyundai Motor Group said Monday that sales of its cars in Western Europe have surpassed that of Japanese rivals Toyota Motor and Honda Motor over the last 7 1/2 years. Its auto affiliates -- Hyundai Motor and Kia Motors -- sold 552,701 cars in the January to June period, about 70,000 more than those sold by Toyota and Honda. The two carmakers together make up roughly 6 percent of all automobiles sold in Western Europe.In the first half of this year, the combined sales of Hyundai and Ki

MobilitySept. 2, 2019

Internet-only banks’ financial soundness level falters in Q2

K bank and Kakao Bank, South Korea’s two internet-only banks, saw their financial soundness index decline in the second quarter this year due to reinforced credit risk regulations, data showed Monday.According to regulatory data by the Financial Supervisory Service, the average capital adequacy ratio of 19 commercial and state-run banks here stood at 15.34 percent as of end-June, down 0.07 percentage point from the previous quarter.The given barometer refers to the BIS ratio, established b

MarketSept. 2, 2019

China's top diplomat departs for N. Korea

Chinese Foreign Minister Wang Yi departed for Pyongyang on Monday for talks with his North Korean counterpart, amid speculation that the two sides could discuss a possible visit to China by North Korean leader Kim Jong-un.Wang left the Beijing international airport in the afternoon, accompanied by ministry officials, including spokesperson Hua Chunying. On Friday, Beijing's foreign ministry said Wang will leave China on Monday for a three-day visit to North Korea, without giving further details

North KoreaSept. 2, 2019

Hyundai's Aug. sales fall 6.2% on low emerging market demand

Hyundai Motor Co., South Korea's largest carmaker, said Monday its sales fell 6.2 percent last month from a year earlier due to lower demand in emerging markets. Hyundai Motor sold 363,045 vehicles in August, down from 386,885 units a year earlier, the company said in a statement. Domestic sales declined 9.7 percent to 52,897 units last month from 58,582 a year ago, while overseas sales were down 5.5 percent to 310,148 from 328,303 over the cited period, the statement said."Lower demand in

MobilitySept. 2, 2019

[Herald Interview] Seoul’s efforts to root out sexual violence in conflict zones compelling: OECD DAC chair

With its own painful history of wartime sexual assault during the Japanese colonial era, South Korea’s efforts to protect women in armed conflicts is more compelling in the eyes of the world, the chair of the OECD’s Development Assistance Committee said. “When we look at many conflicts across the world, women are being weaponized and gender-based violence is not declining,” committee Chair Susanna Moorehead said in a recent interview with The Korea Herald at the Foreign M

Foreign AffairsSept. 2, 2019

Typhoon Lingling likely to hit S. Korea

Typhoon Lingling is highly likely to hit the Korean Peninsula this weekend, possibly causing much damage, South Korea's weather agency said Monday. The typhoon developed on seas some 560 kilometers south of Manila as of 9 a.m. Monday, and was moving north-northwest at a speed of 33 kilometers per hour as of 3 p.m., the Korea Meteorological Administration (KMA) said.  Its central pressure was 1,000 hectopascals, and the maximum wind speed near its center was 18 meters per second, with a wind

Social AffairsSept. 2, 2019