President Moon warns of retaliation, urges Japan to negotiate

President Moon Jae-in on Friday warned that Seoul will “resolutely take corresponding measures” against Japan’s move to remove South Korea from its list of trusted trade partners. Earlier in the day, the Japanese government decided to remove Korea from the whitelist of countries that receive preferential treatment in importing materials and goods from Japan. “(I) express deep regret at the reckless decision that makes the situation worse, while refusing diplomatic ef

Foreign AffairsAug. 2, 2019

[Newsmaker] S. Korea cancels licenses for 10 elite high schools

South Korea pushed ahead Friday to cancel the licenses of 10 "autonomous private high schools" despite strong protests from the elite institutions and parents. Education Minister Yoo Eun-hae gave consent to regional education offices' decision to deprive eight schools in Seoul and one in Busan of their special status as they failed to pass recent performance assessments, the ministry said. They will turned into regular schools next year. One school in Seoul applied for such conversion

Social AffairsAug. 2, 2019

[Eye Plus] Ganghwado, an island of history and beauty

South Korea’s fifth-biggest island, Ganghwado, off the coast of Incheon is a place steeped in history.Its strategic location has made it a vital military outpost for centuries, and it was the site of numerous battles from the Three Kingdoms period to the 20th century. During the Goryeo Kingdom, which lasted from early 10th to 14th century, Ganghwado was briefly the location of the country’s capital during an invasion by the Mongolian dynasty of Yuan that held power in China in the 13

Social AffairsAug. 2, 2019

[Around the Hotels] Packages and promotions

Stylish afternoon tea time at Millennium Seoul HiltonMillennium Seoul Hilton’s Cilantro Deli presents a stylish afternoon tea set consisting desserts that resemble fashion items.On top of their choice of coffee or tea, customers can enjoy either a blue high heel shoe or a pink clutch bag, both made out of chocolate, along with other miniature sweets in the shape of a lipstick, a perfume bottle and other accessories. Also included in the set are “fatcarons,” or thick macarons st

FoodAug. 2, 2019

[Weekender] How our ancestors beat the heat

“The arrogant sun.” This is what Koreans called the source of scorching summer heat during the Joseon era (1392-1910). Summer was always sizzling and humid here.Just how did our ancestors cope with the sweltering heat with no air-conditioning and electric fans? Hints can be found at Namsangol Hanok Village. Located near Chungmuro Station in central Seoul, the village is a collection of five traditional houses, or hanok, where foreign tourists visit to experience Korea’s tr

TravelAug. 2, 2019

[Weekender] Peak season

Despite the prolonged wet weather, vacation season is in full swing in South Korea. With nearly half of holidaymakers traveling in late July and early August, life in bustling Seoul slows down. “Proof that it is now peak holiday season -- my neighborhood is quiet,” says Kim Yeon-ju, who lives near a bar-heavy district in Goyang city, Gyeonggi Province. “I see that many bars and shops are closed.”It was quiet Thursday in the Yongsan Electronics Market, a cluster of compute

TravelAug. 2, 2019

Uniqlo records 40 percent drop in sales, closes its Jongno 3-ga store

Amid the escalating trade dispute between Seoul and Toyko, Japanese fashion brand Uniqlo has seen its sales dwindle by 40 percent in South Korea as a result of an ongoing boycott of Japanese goods by Korean consumers, industry sources said Friday.  According to the industry, Uniqlo’s sales nose-dived after July 11, when Uniqlo Chief Financial Officer Takeshi Okazaki said during an earnings press call that the impact of the boycott would be short-lived. Fast Retailing Co., which o

IndustryAug. 2, 2019

Cheong Wa Dae to launch task force to deal with Japanese export restrictions

A task force and a situation team will be launched to deal with the recent decision by Japan to remove Korea from its “whitelist” of trusted trade partners, Seoul’s presidential office said Friday.“(Cheong Wa Dae) expresses deep regret over the Abe government’s decision to remove Korea from the whitelist,” Cheong Wa Dae spokesperson Ko Min-jung said.  Saying Seoul had continually called for dialogue with Japan, she added that efforts had been made to reso

Foreign AffairsAug. 2, 2019

S. Korean political circle in emergency mode to tackle Japan's 'whitelist' decision

South Korea's parliament and political parties held emergency meetings Friday to draw up measures to tackle Japan's decision to remove South Korea from a list of trusted trading partners.Earlier in the day, Japan's Cabinet approved a proposal to strip South Korea from the "whitelist" of countries subject to preferential trade status in additional economic retaliation over a row surrounding Japan's wartime forced labor.National Assembly Speaker Moon Hee-sang expressed "deep regret&

PoliticsAug. 2, 2019

Top diplomats of S. Korea, US, Japan to meet trilaterally amid tensions over whitelist exclusion

The top diplomats of South Korea and Japan faced off Friday over Tokyo's decision to remove Seoul from its list of trusted trade partners during a regional forum in Thailand.Foreign Minister Kang Kyung-wha and her Japanese counterpart, Taro Kono, traded barbs at the annual gathering, involving the 10-member Association of Southeast Asian Nations, their countries and China. The meeting was held after Japan's Cabinet approved a decision to drop South Korea from the "whitelist" of 27 coun

Foreign AffairsAug. 2, 2019

Cheong Wa Dae says Japan's additional trade restrictions 'deeply regrettable'

Cheong Wa Dae expressed "deep regret" Friday over Tokyo's decision to impose additional export curbs against South Korea."Going forward, our government will cope with Japan's unfair measure with a resolute attitude," Cheong Wa Dae spokesperson, Ko Min-jung, said in a statement. It came in response to Japan's Cabinet approval for the removal of South Korea from the so-called "whitelist" of trade partners, which Tokyo regards as trustworthy in terms of national securi

Foreign AffairsAug. 2, 2019

Unification ministry expresses strong regret over NK's launches of projectiles

The unification ministry expressed "strong regret" over North Korea's launches of projectiles on Friday, saying that such a move could negatively affect efforts to bring peace to the Korean Peninsula.North Korea fired unidentified short-range projectiles off its east coast earlier in the day, according to Seoul's military. What the North fired appears to be a new type of short-range ballistic missiles, though more analysis will be needed, according to the presidential office. "We

North KoreaAug. 2, 2019

N. Korea's projectiles appear to be new SRBMs: Cheong Wa Dae

North Korea fired what appear to be new-type short-range ballistic missiles (SRBMs) early Friday morning, Cheong Wa Dae said after an emergency meeting at an underground bunker in Seoul.Chung Eui-yong, head of the national security office, presided over the session, attended by Defense Minister Jeong Kyeong-doo and National Intelligence Service Director Suh Hoon, at the crisis management center inside the presidential compound.It came hours after the North shot a couple of projectiles from a nor

North KoreaAug. 2, 2019

Moon to hold emergency Cabinet meeting on Japan's 'whitelist' decision

President Moon Jae-in called an emergency Cabinet meeting shortly after Japan pressed ahead with the removal of South Korea from a list of trusted importers on Friday, Cheong Wa Dae said. Moon plans to hold the session at 2 p.m. to discuss countermeasures.Moon's opening remarks will be broadcast live, according to Cheong Wa Dae. (Yonhap)

PoliticsAug. 2, 2019

Boycott of Japanese goods to intensify as Tokyo expands export curbs

Calls for a boycott of Japan-made goods in South Korea are expected to come to a boil as Tokyo went ahead with its threat to widen controls over exports of materials by removing Seoul from a list of trusted trade partners despite repeated calls to scrap the move. A boycott of Japanese goods has spread across Korea since Tokyo tightened controls on exports of three high-tech materials to Seoul on July 4, in apparent retaliation against Korean court rulings last year over Japan's wartime forced la

EconomyAug. 2, 2019

Japan hides true intentions, leaving export curbs unjustified

Despite what Japan cites as reasons for its curbs on exports to South Korea, the country may have hidden motives that include an attempt to evade responsibility for its past wrongdoings, officials here say.On July 4, Tokyo implemented tougher restrictions on South Korea-bound shipments of three materials -- resist, etching gas and fluorinated polyimide -- that are essential in the production of semiconductors and display panels.The only reason Tokyo has offered so far for its export restrictions

InternationalAug. 2, 2019

BOK vows market stabilization efforts amid escalating trade tensions

The Bank of Korea said Friday that it will remain vigilant against any potential volatility in local financial markets caused by escalating trade tension with Japan. "(The BOK) believes there is a possibility that the volatility in the local financial and foreign exchange markets may rise depending on how Japan's export restrictions are actually implemented," the central bank said in a statement after an emergency meeting to review possible fallout from Japan's expanded export restrict

MarketAug. 2, 2019

Japan takes Korea off list of trusted trade partners, effective Aug. 28

Japan resolved on Friday to remove South Korea from a “whitelist” of 27 countries that receive preferential trade treatment. Japanese Prime Minister Shinzo Abe convened a Cabinet meeting the same day to decide whether to revise the Export Trade Control Order and remove Korea from its list of trusted trading partners.The revised order will be signed by Minister of Economy, Trade and Industry Hiroshige Seko and co-signed by Abe. Seko said the revision would take effect Aug. 28.As of th

IndustryAug. 2, 2019

Cheong Wa Dae holds meeting of ministers on N. Korea's rocket launch

The office of President Moon Jae-in convened an emergency meeting of security-related ministers Friday to discuss the issue of North Korea's latest launch of unidentified projectiles.Chung Eui-yong, head of the national security office, presided over the session, which opened at 7:30 a.m., Cheong Wa Dae said. It's not a National Security Council session, however, Moon's office added.Early Friday morning, the North shot two projectiles, apparently short-range ones, from a northeastern region into

North KoreaAug. 2, 2019

Seoul stocks open lower on trade tensions

Seoul stocks opened sharply lower Friday as Japan is set to remove South Korea from its list of trusted trading partners later in the day and a trade row between the United States and China is escalating.The benchmark Korea Composite Stock Price Index crashed 23.10 points, or 1.15 percent, to reach 1,994.24 in the first 15 minutes of trading.It marked the first time in seven months that the index was below the 2,000-mark during a trading session. Tokyo, which began implementing tougher restricti

MarketAug. 2, 2019