Eximbank inks $86m EDCF loan agreement for Ethiopia

The Export-Import Bank of Korea said Tuesday it had signed a loan agreement to provide $86 million from the Economic Development Cooperative Fund for Ethiopia’s project involving a university. The ceremony was attended by Eximbank Chairman Eun Sung-soo and Ethiopia’s State Minister of Finance Admasu Nebebe during Ethiopian Prime Minister Abiy Ahmed Ali’s state visit to Korea.The EDCF offers long-term low-interest loans to developing countries, set up and managed by the Korean g

EconomyAug. 27, 2019

LG, Naver cooperate on dual-screen browsing platform

In order to provide better user experiences on dual-screen devices, LG Electronics has partnered with Naver to work on expansion of the web portal’s multitasking-focused browsing platform, the company said Tuesday. LG will adopt Naver’s web browser Whale for the firm’s upcoming devices, which will focus on optimizing the user interface of LG’s dual screen devices. Whale is marketed as an “omni-tasking” browser that enables users to operate more than two tasks

TechnologyAug. 27, 2019

Art-filled staycation at JW Marriott Dongdaemun

Riding the staycation wave, JW Marriott Dongdaemun Square Seoul presents the Artractive Holiday package for the Chuseok holidays.The package offers three tickets to L’Atelier, an exhibition hall in Dongdaemun, featuring works by leading 19th century artists, including Vincent Van Gogh. Located in nearby Hyundai City Tower, L‘Atelier is less than a 10-minute walk from the hotel. L’Atelier, an experience-oriented art theme park, features famous paintings in light displays, allowi

CultureAug. 27, 2019

[Herald Interview] Can Korea develop its own wine country?

Despite winemakers’ efforts to introduce high-quality Korean wines to the wider public, European and Old World wines still dominate the scene here. Enter sommelier Jung Ha-bong, the director of wine at JW Marriott Seoul, who hopes to give Korean wines a competitive edge. Also known as Lucas Jung, he is vice president of the Korea International Sommelier Association. The hotel’s buffet restaurant Flavors drew up a new list of Korean wines in August, in addition to the usual list

FoodAug. 27, 2019

Antitrust regulator chief nominee plans to check Google, Apple, Naver

The nominee to lead South Korea’s antitrust watchdog said she would look closely into unfair business practices related to information and communication technologies amid the emergence of online platforms and big data.  “In order to back the innovative ecosystem in line with new economic trends, such as the development of the digital economy and the growth of platform companies, antitrust authorities are required to approach the industry with a balanced perspective,” Joh S

IndustryAug. 27, 2019

Michigan congressman visits SK Saran Americas in Midland

A Michigan congressman on Monday visited the main facility of SK Saran Americas, part of SK Global Chemical Americas, which produces chemical resin, according to SK Innovation, owner of the chemical unit. SK Innovation said Rep. John Moolenaar toured SK Saran Americas in Midland, Michigan, accompanied by Jay Kim, president of SK Global Chemical Americas, and Steve Persyn, site leader for SK Saran Americas. The company employs more than 40 people at the Midland facility and the chemical resi

IndustryAug. 27, 2019

[News Focus] Moon’s 40% support faces risks amid Cho Kuk scandals

SEJONG -- The people’s disappointment and fury toward Cho Kuk, a confidant of President Moon Jae-in, is negatively affecting support for Moon, recent polls showed.Some analysts raised the possibility that Moon’s support rating could dip below the psychologically significant 40 percent mark amid allegations of impropriety in the university entrance of Justice Minister nominee Cho’s daughter.Cho’s daughter has been suspected of receiving admission from a highly ranked unive

PoliticsAug. 27, 2019

Thailand: Tech edge will lure Korean firms

BANGKOK -- South Korean businesses are increasingly entering promising Southeast Asian markets, but the number of Korean companies operating in Thailand is still far lower than that in Vietnam, for instance, where more than 3,000 Korean companies operate. There are currently around 400 Korean companies operating in Thailand, which is Korea’s 18th-largest trade partner in the world and the third-largest market for Korean companies in Southeast Asia, after Vietnam and Indonesia. “Korea

IndustryAug. 27, 2019

S. Korea to expand financial support for firms hit by Japan's export curbs

South Korea's top financial regulator said Tuesday the government will expand financial support for companies hit by Japan's export restrictions if needed, as Tokyo's decision to drop Seoul from its list of trusted trading partners is set to take effect this week. Choi Jong-ku, chairman of the Financial Services Commission, made the remarks at a meeting with senior executives of banks, a day before South Korea is officially dropped from Japan's so-called whitelist.  Japan, which tightened e

EconomyAug. 27, 2019

S. Korea issues travel warning for protest-hit Hong Kong

South Korea has issued a travel warning for Hong Kong, citing increasing risks from escalating violence in deepening anti-government protests, Seoul's foreign ministry said. A "navy warning", which calls for caution and is the lowest of the four-phase travel warning system, has been imposed on all of Hong Kong, effective as of Monday, the ministry said in a release. The decision was made to ensure the safety of South Koreans staying in or planning to visit Hong Kong, as physical clashe

Social AffairsAug. 27, 2019

HK police say radical protesters forced use of water cannon, warning shot

HONG KONG (AFP) -- Hong Kong police said Monday they were forced to fire water cannon and a warning shot to fend off "extremely violent"  demonstrators, following another weekend of clashes at pro-democracy rallies.Sunday's violence in the district of Tsuen Wan, around 10 kilometres (six miles) from the city centre, was some of the worst in 12 weeks of political unrest roiling the international financial hub.As night fell, a group of officers were cornered by protesters armed with

World NewsAug. 27, 2019

Trump again touts N. Korea's economic potential

US President Donald Trump again touted North Korea's "tremendous" economic potential on Monday, seemingly urging the regime to return to denuclearization talks.The negotiations have yet to resume despite Trump and North Korean leader Kim Jong-un's agreement to do so within several weeks after their impromptu meeting on the inter-Korean border on June 30."I think that North Korea has tremendous economic potential, and I think that Kim Jong-un sees that," Trump said at a joint

North KoreaAug. 27, 2019

'Climate change a key reason for rising prevalence of dengue': scientists

Scientists expect warming temperatures will lead to worse dengue outbreaks in places the disease already lurks, and outbreaks in brand new places.Record-breaking dengue outbreaks around the region have scientists and medical professionals questioning just how much climate change is to blame for the spike in cases. Experts in Bangladesh cite rising temperatures, between 27 and 32 degrees celsius—prime breeding conditions for Aedes aegypti, the mosquito that transmits dengue—as a compe

World NewsAug. 27, 2019

Scientists are taking the fight to the world’s most dangerous creature

Around the world, mosquitoes are winning their war of attrition. With the help from a tiny bacterium, scientists are fighting back.The battle between humans and mosquitoes has been raging for centuries. For as long as humans have existed, mosquitos have been there, right alongside us, making us sick. Dengue alone causes 390 million infections a year, and as much as 40 percent of the world’s population lives in a place where dengue is a risk. As our world’s climate changes, even more

World NewsAug. 27, 2019

Could data help us tell Dengue’s future?

2019 is one of the worst years for dengue outbreaks. Scientists and officials looking for new ways to use data to predict the deadly disease. In the Philippines more than 622 people—most of whom are children under five years old—have died from dengue so far this year. The country is seeing more than 5,100 new cases each week. In at least one province, tents are serving as makeshift treatment centers to deal with the crush of patients. The Philippines declared the outbreak a National

World NewsAug. 27, 2019

Police to summon K-pop star, ex-chief of YG Entertainment on gambling charges this week

Police will likely summon a K-pop star and the ex-chief of YG Entertainment on charges of overseas gambling, sources said Monday.Seungri, 29, a former member of popular boy band BIGBANG, and Yang Hyun-suk, 50, former chief producer and founder of YG Entertainment, will be questioned on Wednesday and Thursday, respectively, according to the sources. The two were booked by the police earlier this month on charges of gambling in a hotel casino in Las Vegas and securing gambling money in violat

Social AffairsAug. 26, 2019

Trump claims serious trade negotiations with China to begin

BIARRITZ, France — President Donald Trump, facing pressure to scale back a US-China trade war contributing to a global economic slowdown, claimed Monday that serious talks will begin soon although another round has been expected in Washington in September.Trump said his trade negotiators had received two “very good calls” from China on Sunday. But a spokesman for China’s foreign ministry said Monday that he didn’t know what calls Trump was talking about.Trump expres

World BusinessAug. 26, 2019

FSC nominee vows to reform financial industry regulations

The nominee for the nation's top financial regulator said Monday that the government should continue to reform regulations and lower the entry barrier to the financial sector to boost the dynamic of the industry.Eun Sung-soo, President Moon Jae-in's nominee for the Financial Services Commission, made the remark in a report submitted to a parliamentary committee on national policy ahead of his confirmation hearing slated for Thursday. "Once a financial incident or scandal breaks out, su

MarketAug. 26, 2019

[Newsmaker] Kolon TissueGene at brink of delisting, W489.6b at risk of vaporizing

Shares of Kolon Group affiliates took a dip Tuesday, following the Korea Exchange’s announcement that it has tentatively to delist Kolon TissueGene.　Kolon TissueGene, which had traded at 75,000 won ($62) at its peak, stands at 8,010 won per share, with trading halted and not taking place Tuesday. Kolon LifeScience, the umbrella company of TissueGene, closed at 21.82 percent lower than the previous day at 17,200 won. Kolon fell 5.41 percent.　The Korea Exchange (KRX) made the decision the pr

IndustryAug. 26, 2019

Hyundai Heavy unit bags 410 bln won in orders for 5 ships

Hyundai Samho Heavy Industries Co., a local shipbuilder, said Monday it has won orders to build five ships -- two liquefied petroleum gas carriers and three petrochemical carriers -- for some 410 billion won ($337 million) combined.Under a deal with an unidentified Asian customer, Hyundai Samho will build two LPG carriers with a cargo capacity of 84,000 cubic meters by November 2021 for 197.3 billion won. The company added it has also secured a 211 billion-won order from a separate Asian sh

IndustryAug. 26, 2019