[Newsmaker] Typhoon Mitag to strike southern Korea this week

Typhoon Mitag is forecast to hit the southern region of the Korean Peninsula this week, according to the Korea Meteorological Agency on Sunday.The weather agency said Mitag is expected to make landfall on Jeju Island on Wednesday morning before making its way through the country’s southern and central regions. By Thursday morning, Mitag is predicted to reach waters 120 kilometers west of the Dokdo islets. Formed off the east coast of the Philippines, Mitag was reported to be traveling nort

Social AffairsSept. 29, 2019

Bringing Avengers to life: CJ vows next-level cinema with multisensory tech

When CJ launched the first 4DX theater at its movie-screen brand CGV in 2009, people were unfamiliar with the concept of watching a flick that stimulates the senses with special effects such as motion seats, wind, water, lights and scents.“Until then, many people only had a chance to experience moving or vibrating chairs with special effects at some of the attractions at theme parks,” Kim Jong-ryul, CEO of CJ 4DPlex, told reporters during a press conference to celebrate the company&r

IndustrySept. 29, 2019

New KAI chief urges focus on winning orders

The new chief executive officer of aerospace and defense company Korea Aerospace Industries has urged his employees to focus all of their capabilities on winning orders to overcome the management crisis, the firm said Sunday. “Despite the harsh environment, KAI has achieved remarkable growth through the efforts of its employees and partner companies as well as support from the government. However, the company is in a crisis due to stagnant sales and orders over the past five years,&rd

IndustrySept. 29, 2019

[News Focus] Real estate mortgages hinder economic growth

SEJONG -- Household debt in South Korea has hogged the limelight in recent decades.The nation’s collective household debt has continued to rise in the wake of active credit card issuance, mortgage loans, student loans for college tuition and loans taken by the self-employed.Apart from first-tier commercial banks, secondary lenders -- such as capital services firms, credit card issuers and savings banks -- have engaged in cutthroat competition for household lending.Registered private moneyl

EconomySept. 29, 2019

[News Focus] LG Chem-SK Innovation dispute reveals workforce vulnerability

　The months-long legal dispute between South Korea’s major battery makers centering on alleged talent poaching has shaken up other rivals, according to industry sources Sunday.　Many companies are reportedly concerned about holding on to their employees and protecting their intellectual property rights. 　After LG Chem accused SK Innovation in April of recruiting as many as 76 of its employees and stealing its trade secrets, some news reports have suggested the poaching has crossed borders.

IndustrySept. 29, 2019

SK Innovation accuses LG Chem of reneging on patent deal

SK Innovation on Sunday expressed regret over the patent infringement lawsuit recently filed against it by LG Chem with a US court, as they had agreed five years ago not to sue each other on one particular patent case.Vowing a befitting response as the legal battle rages, SK Innovation said, “We will respond strongly by taking all possible legal actions,” lashing out at LG Chem for failing to create a virtuous cycle through fair and cooperative competition.The remarks came as LG Chem

IndustrySept. 29, 2019

S. Korea’s wealthy pick real estate as top long-term investment choice

South Korea’s wealthy are picking real estate as their best long-term investment option amid the widespread bearish sentiments, a report released by a major financial group showed Sunday. The report, based on a survey conducted by a think tank under KB Financial Group, involved 400 South Korean high net worth individuals or investors with assets of more than 1 billion won ($833,000). Of the total respondents, only 10 percent said they seek to expand the scope and size of their asset portfo

MarketSept. 29, 2019

[Herald Interview] US veterans of Korean War recall fiercest, coldest battle at Jangjin Reservoir

For Milton Walker and Henry Schafer, the piercing cold and sound of war that surrounded them remains as clear as if it were yesterday. Returning to the country where they had fought after decades, the two American veterans of the Korean War recalled their experience Friday.“We were surrounded when we were attacked in midnight, and I was hit,” Schafer told The Korea Herald in a joint interview in Seoul. “I was shot four times, on my arms and in the back. The first three bul

DefenseSept. 29, 2019

S. Korea, Britain to open vice-minister level dialogue channel ahead of Brexit

South Korea and Britain will open a high-level dialogue channel this week to deal with the aftermath of Britain's departure from the European Union, Seoul's foreign ministry said Sunday.Via the channel, the two countries will discuss a variety of issues ranging from bilateral economic cooperation and finance to climate change and energy, according to the ministry.The measure is the latest in a series of preparations ahead of Britain's exit from the EU, known as Brexit, slated for the end of Octo

Foreign AffairsSept. 29, 2019

As communist China turns 70, a 'Great Fracture' emerges with US

UNITED NATIONS (AFP) -- Seventy years after the founding of communist China, once rosy predictions of coexistence with the United States have dissipated with expectations rising instead of a long-term, globe-spanning rivalry.The United Nations General Assembly showcased the harsh new tone between the world's two largest economies, with US President Donald Trump declaring from the rostrum that the age of tolerance for China's "abuses" was over.Representing China at the annual summit of

World NewsSept. 29, 2019

Seoul criticizes Tokyo for repeating ‘unfair’ claims on Dokdo

South Korea criticized Japan Friday for repeating unilateral disputed defense agendas in its latest defense white paper, including its claims on Dokdo islets.Seoul’s Foreign Ministry released a statement strongly denouncing Tokyo, saying that Japan should realize that its “unfair” and “absurd” claims would not help the bilateral relationship in any way.  “We strongly protest Japan’s claim of unfair sovereignty over Dokdo, that is clearly our territo

DefenseSept. 29, 2019

BLACKPINK's 'Kill This Love' video tops 600m YouTube views

The video for BLACKPINK's latest song, "Kill This Love," surpassed the milestone of 600 million YouTube views on Sunday. The music video topped the threshold Sunday morning, 177 days after its official release on YouTube in April, according to the K-pop band's management agency, YG Entertainment.  It is the shortest period a K-pop music video has amassed more than 600 million YouTube views. Previously, BLACKPINK's "Ddu-du Ddu-du" held the record as the K-pop video that a

PerformanceSept. 29, 2019

S. Korea's exports set to drop for 10th consecutive month in Sept.: poll

South Korea's exports are expected to fall for the 10th consecutive month in September, a poll showed on Sunday, amid a protracted slump in the memory chip segment, the backbone of Asia's No.-4 economy.Outbound shipments are expected to decrease 10.3 percent this month on-year at $45.4 billion, according to the poll conducted by Yonhap Infomax, the financial service arm of Yonhap News Agency. The trade surplus, meanwhile, is expected to reach $5.2 billion, marking 92 straight months in which the

IndustrySept. 29, 2019

BOK chief admits growth challenges, denies deflation

The chief of South Korea’s central bank recognized the country’s challenges in achieving its modest 2.2 percent economic growth pace target for this year, but denied the possibility of deflation.While vowing to maintain the current monetary easing policy moves, he also stressed the need to stay “data dependent,” refraining from asserting the economic outlook for the second half and next year.“As major economies further ease their monetary policies, the concerns on g

EconomySept. 29, 2019

Sony, Marvel strike deal for new 'Spider-Man' film

LOS ANGELES (AFP) -- Spider-Man will spin his web on the big screen once again.A breakdown in talks between Sony Pictures and Marvel had imperiled the web-slinger's celluloid future, but the two companies announced a deal Friday for Marvel Studios to produce the third Spidey film starring British actor Tom Holland.The film -- which follows up on "Spider-Man: Homecoming" and "Spider-Man: Far from Home" -- is set for release on July 16, 2021, the studios said.Marvel Studios pre

FilmSept. 29, 2019

Military to lower bar for active duty conscripts amid population decline

The South Korean military said Sunday it plans to lower the bar for the conscription of active duty soldiers, as the country's population is widely expected to shrink drastically. The Ministry of National Defense and the Military Manpower Administration are currently in the process of revising related regulations to lower the physical requirements and standards for active duty troops.The measure under review comes amid a precipitate fall in the country's population. The phenomenon is likely to d

DefenseSept. 29, 2019

[Advertorial] LS Cable develops aluminum rigid bar for high-speed railways

LS Cable & System has developed an advanced power supply system for high-speed railways with aluminum rigid bars. The South Korean cable and wire company said Sunday the new system could reduce the cost and size of train tunnel construction due to its simple structure.Compared to copper trolley wires, its newly developed aluminum rigid bar will help construction workers build narrower tunnels at a lower cost, the company said. “Since there is no need for facilities to support the

TechnologySept. 29, 2019

S. Korea still on high alert over additional African swine fever outbreak

South Korea is remaining highly vigilant over additional outbreaks of African swine fever and is stepping up disinfection efforts, although there have been no further confirmed cases of the deadly animal disease in the past two days, the country's agriculture ministry said Sunday.The country has confirmed nine cases of African swine fever since Sept. 17, when the first was reported. There were several suspected cases in the past two days, but all tested negative, according to the ministry."

Social AffairsSept. 29, 2019

Samsung Electronics likely to report 60.2% plunge in Q3 operating profit

Samsung Electronics Co., the world's largest maker of memory chips and smartphones, is likely to report a 60.2 percent plunge in its third-quarter operating profit, hit by continuing falls in chip prices, an industry report showed Sunday. According to the report by Seoul-based financial market tracker FnGuide, Samsung is expected to post 6.9 trillion won ($5.8 billion) in third-quarter operating profit, compared with a profit of 17.5 trillion won a year ago.  Compared with a previous estima

IndustrySept. 29, 2019

Corporate tax from top 10 conglomerates set to more than halve as H1 profits drop

The combined corporate taxes that will be paid by listed firms of South Korea's top 10 business conglomerates is set to more than halve, as their profits dropped in the first six months due to slowing exports and weaker demand at home, industry data showed Sunday. According to the data from industry tracker Chaebul.com, the combined operating profit of 96 listed firms of the top 10 conglomerates plunged 51.3 percent on-year to 24.9 trillion won ($20.7 billion) in the first half.  In line wi

IndustrySept. 29, 2019