US Fed cuts key interest rate a quarter point, citing 'uncertainties'

WASHINGTON (AFP) -- The US central bank cut its benchmark interest rate for the second time this year on Wednesday, and Federal Reserve chief Jerome Powell vowed to do whatever is needed to keep the economy growing.But the Fed's policy committee is divided, with three of 10 voting members dissenting from the decision, one because he wanted even more stimulus.Powell said policymakers do not expect a recession, but trade uncertainty is creating "cross winds" that are weighing on the econ

World NewsSept. 19, 2019

US is actively engaged to help resolve S. Korea-Japan row: official

The United States is actively engaged in efforts to resolve the current trade and historical row between South Korea and Japan, and will continue to encourage both sides to find "positive solutions," a top US official said Wednesday.David Stilwell, assistant secretary of state for East Asian and Pacific affairs, made the remark at a Senate Foreign Relations Committee hearing, saying that he has spent a "considerable" amount of time on the issue in his two and a half months in

Foreign AffairsSept. 19, 2019

US official says he assumes N. Korea continues to make nukes

The top American diplomat for East Asia said Wednesday he assumes North Korea continues to make nuclear weapons but declined to offer details.The remark by David Stilwell, assistant secretary of state for East Asian and Pacific affairs, comes as Washington and Pyongyang are expected to resume denuclearization negotiations soon, although no meetings have been scheduled. Talks have been stalled since February's summit between US President Donald Trump and North Korean leader Kim Jong-un ended with

North KoreaSept. 19, 2019

Trump names hostages envoy O'Brien as new natl. security adviser

US President Donald Trump on Wednesday named the current envoy for hostage negotiations, Robert O'Brien, as his new national security adviser.Trump made the announcement on Twitter, days after he fired John Bolton over disagreements on policies including how to denuclearize North Korea."I am pleased to announce that I will name Robert C. O'Brien, currently serving as the very successful Special Presidential Envoy for Hostage Affairs at the State Department, as our new National Security Advi

World NewsSept. 19, 2019

Police find suspect in 30-year-old Hwaseong serial murder case

After decades of futile searching, investigators have made belated progress in the “Hwaseong murders” -- a series of rapes and murders that shocked South Korea in the 1980s.Officials of the Gyeonggi Nambu Provincial Police Agency said Wednesday that they had narrowed down the prime suspect to a man in his 50s who is currently serving a prison sentence for another rape and murder.“In July this year, we sent part of the evidence to the National Forensic Service, which result show

Social AffairsSept. 18, 2019

Experts raise possibility of interim US-N. Korea denuke agreement

The United States and North Korea could take compromise approaches to get tangible results in the next round of denuclearization negotiations, experts said during an international conference hosted by Korea Institute for National Unification, a state-funded think tank, Wednesday.Robert Einhorn, a senior fellow at the Brookings Institute, suggested a near-term arrangement between Washington and Pyongyang to move their stalled talks forward by addressing the North’s nuclear and missile capab

Foreign AffairsSept. 18, 2019

USFK says it is committed to returning bases to South Korea

United States Forces Korea said Wednesday that it is committed to the plan to return its bases to South Korea, following Seoul’s announcement seeking the prompt return of 26 US bases.In a statement, USFK said some of its military installations had already been cleared out for return.  “Fifteen of the 26 US military installations, including four sites specifically requested for transfer at the earliest possible date … have been vacated, closed and available for transfer to

DefenseSept. 18, 2019

[Graphic News] Aramco is the biggest oil firm in the world

　Drones attacked the world’s largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco last weekend. 　　Aramco is the biggest energy company in the world. It produces and exports more than 9.5 million barrels of Saudi Arabia’s oil per day to consumers around the world, primarily in Asia. 

World BusinessSept. 18, 2019

Dreamcatcher’s video game fantasy gets real with ‘Raid of Dream’

The seven-piece group, famous for its distinctive metal and dance fusion sound, has returned to the music scene with a little twist this time.The special EP “Raid of Dreams,” which comes nearly seven months after their fourth mini album “The End of Nightmare,” features a total of five tracks including an intro track all produced by Ollounder and LEEZ who the group has worked with since their debut.To the delight of both music fan gamers, the record itself is a collaborati

K-popSept. 18, 2019

2nd outbreak of African swine fever reported

SEJONG -- South Korea’s quarantine authorities are striving to prevent African swine fever, which was detected in the nation’s northwestern region near the inter-Korean border this week, from spreading to other parts of the country.After the first outbreak in Paju, a city in northern Gyeonggi Province, Tuesday, the second case was confirmed Wednesday at a hog farm in the nearby county of Yeoncheon, located east of Paju. Both areas are near the border with North Korea.Nearly 9,000 pig

Social AffairsSept. 18, 2019

Samsung heir discusses investment with Saudi prince in Jeddah

Lee Jae-yong, vice chairman and heir apparent of Samsung Electronics, met with Mohammad bin Salman bin Abdulaziz, the crown price of Saudi Arabia, to discuss investment opportunities, according to the company on Wednesday. During the meeting in Jeddah on Tuesday, Lee and the Saudi prince touched on various topics including technology, industry, construction, energy and smart cities, reported the Saudi Press Agency. “They discussed investment opportunities in the Kingdom and cooperation bet

TechnologySept. 18, 2019

Samsung aims to offset decline in China with 5G phones

Samsung Electronics is aiming to recover its declining market share in China with a diverse lineup of 5G-enbaled localized devices, including the latest hit Galaxy Fold, according to industry sources Wednesday. Starting with the Galaxy Note 10 series that was launched last week, Samsung hopes to restore its declining status. “The Galaxy Note 10+ 5G is just the start for China’s 5G market,” a Samsung official said during the launch event. “We hope our new products will hel

TechnologySept. 18, 2019

[Timothy L. O’Brien] Trump is cornered by the Saudi drone attacks

A small squadron of drones -- and possibly cruise missiles -- penetrated Saudi Arabia’s air defenses on Saturday, laying waste to a significant, valuable portion of two of the world’s most essential oil processing facilities. Amid worries about the impact of the strikes on global oil markets and fears about broader military confrontations upending a region perennially vexed by crossed swords, ancient religious rifts, geopolitical maneuvering and greed, facts and conjecture began jock

ViewpointsSept. 18, 2019

[Noah Smith] Too much rent control is asking for trouble

For years, thriving cities in coastal regions of the US have become increasingly expensive to live in. As cities such as San Francisco, New York City, Los Angeles and Seattle became more attractive, thanks to booming knowledge industries and falling crime, rents soared.And for almost as long, people have been hotly debating what to do about the problem. Many have called for an increase in housing construction, especially by loosening zoning laws and reducing the ability of legal challenges to ha

ViewpointsSept. 18, 2019

KCCI chief says discussion ‘missing’ on economy, new industries

The head of South Korea’s largest organization representing small and large businesses alike on Wednesday expressed concern that a nationwide drive to overcome economic risk by nurturing new industries and promoting deregulation has been losing its steam despite growing negative signs pointing to a possible economic recession.“Even though we are standing at a time when we have to do our best to overcome downside risks, it is regrettable to say that discussion on economic issues itsel

IndustrySept. 18, 2019

Hyundai to install advanced air bags

Hyundai Motor Group said Wednesday that it plans to install newly developed center-side air bags in its vehicles, without specifying the time frame or any model names.The group has two auto subsidiaries -- Hyundai Motor and Kia Motors.The center-side air bags, developed by in-house engineers, are intended to reduce injuries to drivers and front-seat passengers. This air bag prevents drivers and passengers from colliding during a crash and also protects a lone driver from the impact of glass frag

MobilitySept. 18, 2019

[Newsmaker] B.I admits drug use, ex-YG chief to be summoned over alleged cover-up

The ex-chief of YG Entertainment, the label that represents the K-pop band iKON, will soon be summoned after the band’s former leader admitted to some of the drug allegations against him, police said Wednesday. The Gyeonggi Nambu Provincial Police Agency said B.I, whose real name is Kim Han-bin, admitted to past drug use during an interrogation Tuesday. Kim was grilled for some 14 hours on suspicion of buying marijuana from an acquaintance in 2016 and smoking it. The investigators will con

Social AffairsSept. 18, 2019

As international galleries look for Hong Kong alternative, KIAF 2019 gets boost

Korea International Art Fair 2019 will be held Sept. 26-29 at Coex in Gangnam-gu, Seoul.A total of 175 galleries from 17 countries, including China, France, the US and Mexico, are participating in the 18th edition of the annual fair.“As the crisis in Hong Kong continues, there are many foreign galleries that are seeking an alternative market to introduce their works. And the art market in Korea appears to be one of their options. It is expected that there will be several representatives fr

Arts & DesignSept. 18, 2019

S. Korea to revamp workforce system amid population decline

South Korea’s fiscal chief on Wednesday announced proposals to improve the supply of key workforce amid a declining population and aging society. The government’s latest blueprint announced Wednesday focuses on recruiting teachers, soldiers and foreign workers in nonmetropolitan areas, as well as improving the employment conditions for seniors.“With its record-low birth rate and fast aging society, Korea is now facing critical demographic changes,” said Deputy Prime Minis

EconomySept. 18, 2019