Mirae Asset Daewoo picked as best brokerage

South Korean financial consumers chose Mirae Asset Daewoo as the nation’s top brokerage this year, a survey by the Korea Finance Consumer Federation showed Wednesday, as it outperformed competitors on criteria related to stability.The survey, conducted biannually by a major civic group for financial consumers here, involved more than 5,000 consumers and 56 local brokerages.  The civic group also took the firms’ financial soundness and business decisions into consideration.&

MarketSept. 4, 2019

No. of S. Koreans traveling to Japan dives amid boycott campaign

The number of South Korean tourists visiting Japan plunged more than 19 percent on-year last month due to a widening voluntary "Japan tour boycott" campaign against Tokyo's recent implementation of strict trade regulations on Seoul, the country's main airport operator said Wednesday.According to the Incheon International Airport Corp., 969,000 locals traveled to Japan via the airport, west of Seoul, last month, a 19.5 percent drop from the previous year.  The plunge is in stark co

Social AffairsSept. 4, 2019

N. Korea slams Japan over suspected plan to discharge radioactive water

North Korea's state media slammed Japan on Wednesday over its suspected plan to discharge radioactive water into the sea, saying it would be a criminal act that could bring about a nuclear calamity in the region.Environmentalist group Greenpeace earlier said that Japan is planning to discharge about 1 million tons of radioactive water from its crippled Fukushima nuclear power plant into the Pacific Ocean. Japan has said that it has not made any specific decision yet on how to dispose of the cont

North KoreaSept. 4, 2019

Korean IPO market will rebound in Oct.: report

South Korea’s lackluster initial public offering market is set to gain momentum in October, according to a local brokerage firm Wednesday, with some big names gearing up to get listed. “Companies that went public on the tech-heavy secondary Kosdaq bourse in August generated an average return rate of minus 18 percent, overall below the average return on the Kosdaq market, which shed 3 percent throughout the month,” analysts at SK Securities said. “Big firms such as Lo

MarketSept. 4, 2019

[IFA 2019] AI to set tone at Europe’s biggest consumer electronics show: organizers

Only a day remains to the beginning of this year’s IFA, Europe’s biggest annual trade show for consumer electronics in Berlin, Germany, where innovative, pioneering technologies from across the world gather for a showdown. IFA organizers Messe Berlin and gfu Consumer & Home Electronics said artificial intelligence will set the tone for trends at this year’s event. Many types of devices using AI are self-teaching and able to improve their performance for the user’

IndustrySept. 4, 2019

LG Chem, UDC to develop upgraded OLED materials

LG Chem said Wednesday it has partnered with US materials producer Universal Display to improve the performance of key materials of organic light-emitting diodes. The two companies signed a partnership agreement to develop the next-generation OLED emitting layer. It is comprised of a “host” that helps to emit light and “dopant” that emits a specific color.  Through the partnership, both firms aim to find the best combination with LG Chem’s low-voltage, long-liv

IndustrySept. 4, 2019

World Energy Congress to be held in UAE on ‘energy for prosperity’

The World Energy Council, chaired by Daesung Group Chairman Younghoon David Kim, will host the 24th World Energy Congress from Monday to Thursday in Abu Dhabi, the United Arab Emirates, under the theme of “Energy for Prosperity.” About 15,000 people from the energy sector representing over 150 countries are expected to attend the event. They include representatives of global energy companies and international organizations, academics, heads of government and top energy department off

IndustrySept. 4, 2019

S-Oil holds charity event ahead of Chuseok

With the Chuseok holiday approaching, South Korea’s leading oil refiner S-Oil held a charity event at Sungsan Community Welfare Center on Wednesday. The event, titled “Sharing Songpyeon with S-Oil,” was attended by CEO Hussain A Al-Qahtani, along with some 100 executives and employees of the firm. They made songpyeon, a type of rice cake eaten during Chuseok, and donated food as well as gift sets consisting of groceries and daily necessities to 800 low-income families in the Ma

IndustrySept. 4, 2019

Renault Samsung stands out in crowd with deep localization

While it may not have the largest market share in South Korea, Renault Samsung Motors is playing a significant role with its active localization efforts.The local unit of French automaker Renault Group operates a plant in Busan that was ranked No. 8 for productivity out of 148 automobile plants worldwide in a 2016 evaluation by the Harbour Report.The company also contributes to the local economy. In 2017 it brought in more than 2.44 trillion won ($2 billion) for its suppliers, up 11.3 percent on

MobilitySept. 4, 2019

BTS agency to hold global audition to launch girl group in 2021

The music label of boy band BTS said Wednesday it will throw a global audition this year to launch a K-pop girl group around 2021."In cooperation with Source Music, Big Hit is set to host the 'Plus Global Audition' to recruit members for a new girl group with a view to get it to debut in 2021," Big Hit Entertainment said, referring to the label for GFriend, which was merged into Big Hit earlier this year. The global audition will start off with its first sessions in Los Angeles and New

PerformanceSept. 4, 2019

S. Korea seeks global support for NK denuclearization, peace on Korean Peninsula

South Korea's vice defense minister on Wednesday held a series of bilateral talks with his counterparts from foreign countries and asked for their continued support for efforts to denuclearize North Korea and build peace on the peninsula, his office said. On the sidelines of the 8th Seoul Defense Dialogue under way in Seoul, Vice Defense Minister Park Jae-min met with his counterparts from Singapore, Uzbekistan, the Philippines and Ethiopia, to share their assessment on the recent security situa

North KoreaSept. 4, 2019

[Herald Review] ‘Bad Guys’ epitomizes why we love Don Lee

Don Lee, known here better by his Korean name Ma Dong-seok, has a unique place in Korean cinema. Never before had a muscle-bound, middle-aged man -- who looks like he could move a tank with his right hook -- become the image of “cuddly and cute.” What’s more bizarre is that he built the image not by playing family-friendly roles, but by bashing bad guys’ brains on screen.Comparisons of Lee to pro wrestling superstar and Hollywood darling Dwayne “The Rock” John

FilmSept. 4, 2019

Kim Jong-un stresses science and technology education

North Korean leader Kim Jong-un highlighted the importance of science and technology education, saying people educated abroad should be hired as university professors in the North, Pyongyang’s state media said Wednesday. Kim made the statement during a meeting with leading officials of the North’s Workers’ Party last month. The message was delivered to a national conference of teachers held Tuesday, the North’s Korean Central News Agency said.“Science and technology

North KoreaSept. 4, 2019

UN chief urges N. Korea to release all political prisoners

UN Secretary-General Antonio Guterres has called on North Korea to release all political prisoners, accusing Pyongyang of a series of human rights abuses at prison camps, such as arbitrary arrests, beatings, forced labor and executions.Guterres made the appeal in a report submitted for the 74th Session of the General Assembly, which is slated to kick off on Sept. 17. The report covers the North's overall human rights situation from September last year to July this year."Citizens of the Demo

North KoreaSept. 4, 2019

Controversy erupts over 'different' treatment of CJ scion in drug probe

Prosecutors in Incheon, west of Seoul, are drawing fire for treating CJ Group Chairman Lee Jae-hyun's eldest son, who was caught smuggling liquid marijuana in cartridges from the United States over the weekend, differently from suspects in similar past cases.Lee Sun-ho, the heir apparent of CJ Group, a leading food and entertainment conglomerate, is accused of attempting to smuggle liquid marijuana in cartridges, as well as other banned substances, into the country via Incheon International Airp

Social AffairsSept. 4, 2019

Samsung opens 'digital playground in London

Samsung Electronics said Wednesday it has opened an “experience center” at King’s Cross in London, UK, with the aim of offering a new space where customers can check its future technologies. The South Korean tech giant has built the Samsung KX center in an area measuring 1,858 square meters on the top floor of the Coal Drops Yard shopping complex, where visitors can attend various cultural events and workshops organized by local educational institutions and experience the lates

TechnologySept. 4, 2019

Typhoon Lingling likely to hit S. Korea as early as Friday

Typhoon Lingling is forecast to affect South Korea as early as Friday, bringing strong winds and heavy rain to the southern and western regions of the country, the state weather agency said Wednesday.The typhoon was moving northeast at 5 km per hour in waters 450 km southeast of Taipei as of 3 p.m., according to the Korea Meteorological Administration. The southern island of Jeju and the southern part of the country will experience strong wind and heavy downpours starting on Friday, the KMA said

Social AffairsSept. 4, 2019

US says it respects S. Korea's decision to expedite return of bases

The United States respects South Korea's decision to seek an early return of more than two dozen American military bases in the country and will work with its ally to get the bases returned "as expeditiously as possible," US Forces Korea said Tuesday.South Korea's presidential office Cheong Wa Dae announced the decision last week, saying the move is in line with the relocation of all US bases to Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul. "We are aware of the ROK g

DefenseSept. 4, 2019

K-Pop and Kimchi: Tokyo's 'Little Seoul' shrugs off spat

TOKYO (AFP) -- In the "little Seoul" area of Tokyo, Japanese shoppers flock to get their fix of K-pop and Korean face cream, seemingly shrugging off a deep freeze in Japan-South Korean ties.Visitors to Shin-Okubo could be forgiven for thinking they had stumbled into a district in Seoul, with rows of restaurants serving kimchi and music shops selling the latest K-pop hits from BTS or Wanna One.And in contrast to South Korea where anger over a deterioration in bilateral ties has sparked

Foreign AffairsSept. 4, 2019

Ahngook Pharm. executive arrested over illegal clinical tests

Prosecutors said Wednesday they have arrested an executive of Ahngook Pharmaceutical Co. on charges of carrying out illegal clinical tests. The KOSDAQ-listed company's Vice Chairman Auh Jin is suspected of having performed the illicit act in violation of the pharmacy law, the Seoul Seobu District Prosecutors' Office said.  The drug company also publicly announced Auh's arrest earlier in the day. In a separate case, Auh has been indicted without detention on charges of having offered kickbac

IndustrySept. 4, 2019