N. Korea says it fired new tactical guided weapon in 'warning' against Seoul

North Korea has fired its "new tactical guided weapon" under leader Kim Jong-un's guidance in a demonstration of power, state media reported Friday, a day after the communist state launched two short-range ballistic missiles into the East Sea.The firings were aimed at sending a "solemn warning" to "South Korean military warmongers" who are introducing "ultramodern offensive weapons into South Korea" and pushing to "hold (a) military exercise in defian

North KoreaJuly 26, 2019

S. Korea's central regions on alert for heavy rain

South Korea on Thursday issued heavy rain alerts for central regions and activated a national disaster control body to cope with possible damage.  The weather authorities forecast sudden heavy downpours for some central parts of the country, including Seoul and Gyeonggi Province, on Thursday night or early Friday morning. Affected by the seasonal rain front, precipitation is expected to range from 100 millimeters to 400 mm and heavy rain is expected to continue until Sunday.The Ministry of

Social AffairsJuly 25, 2019

Seoul says N. Korea fired apparently new type of short-range ballistic missile

South Korea's top security officials expressed "strong regret" Thursday over the North Korea's firing of two projectiles that they believed to be a new type of short-range ballistic missile.  The North launched two missiles from its east coast early in the day, both of which flew hundreds of kilometers.South Korea's presidential National Security Council tentatively concluded that those were "a new kind of short-range ballistic missile," Cheong Wa Dae said in a press rel

North KoreaJuly 25, 2019

[Graphic News] S. Korea world’s No. 2 heated tobacco market in 2018

　South Korea was the world’s No. 2 heated tobacco market last year, and its growth will gather pace down the road, an industry tracker said.　The size of South Korea’s heat-not-burn electronic cigarette market reached $1.67 billion last year, rising sharply from $453 million tallied in 2017, according to data compiled by Euromonitor International. The country’s overall tobacco market reached $15.6 billion last year.　While South Korea’s tobacco market is anticipated to post

WorldJuly 25, 2019

[Newsmaker] Ex-President Park gets reduced term

A high court on Thursday sentenced former President Park Geun-hye to five years in prison for causing losses to state coffers by unlawfully receiving money from chiefs of the country’s spy agency. The Seoul High Court handed down the five-year prison term and asked her to pay 2.7 billion won ($2.3 million) in forfeitures, a reduction of one year from the lower court’s ruling and down from 3.3 billion won. The prosecution said it would appeal. It sought a 12-year term in prison for Pa

Social AffairsJuly 25, 2019

[Weekender] Cafes, coffee brands roll out seasonal drinks

For many coffee lovers, summer signals a switch to cold brews.At Starbucks, a seasonal offering has been so well received by Korean customers that the company has just weeks ago decided to put it on its regular menu for the whole year round. Launched originally as a summer drink in April, the espresso-based Dolce Cold Brew combines two of the coffee franchise’s bestselling items -- Cold Brew and Dolce Latte. It only uses cold brew that was slow-steeped in cool water for 14 hours. 

IndustryJuly 25, 2019

Child abuse concerns raised over money-making kid YouTubers

The parents of a child YouTuber, who had garnered enough money to buy a 9.5 billion won ($8.06 million) building, are receiving criticism from the public related to child abuse concerns raised in the past.South Korea’s most popular YouTuber Boram received huge attention from the public after the Maeil Business Newspaper reported Tuesday that Boram Company -- the family company operating two YouTube channels featuring the 6-year-old girl -- had recently purchased a building in one of Seoul&

TelevisionJuly 25, 2019

[News briefs] Burning Sun whistleblower comes under police protection

Police will provide protection for Kim Sang-kyo, who opened the floodgates of allegations surrounding the Burning Sun club, and his family, as requested by Kim, according to the police on Thursday.   Kim says that he has been threatened by an online group that receives and reveals tip-offs on celebrities, after he said he would disassociate himself from the group. His address will be registered in the police’s system and security will be tightened around his residence for the nex

Social AffairsJuly 25, 2019

Civic groups condemn Japan for trade feud

South Korean civic organizations on Thursday lashed out at the Japanese government’s export curbs against the country and denial of its brutal history, calling for joint action with Japan’s civil society.  An association of 350 civic organizations called on Prime Minister Shinzo Abe’s administration to withdraw its “economic retaliation” against Korea and cooperate to responsibly compensate the victims of Japan’s wartime atrocities.“The responsibili

Social AffairsJuly 25, 2019

North Korea boasts military strength ahead of South Korea-US military exercises

North Korea’s display of military might with short-range missile launches and a newly built submarine this week appears to be in protest of joint South Korea-US military exercises scheduled for next month. The North fired two short-range missiles Thursday from Hodo Peninsula on the east coast, which flew about 430 kilometers and 650 kilometers, respectively, before falling into the East Sea. On Tuesday, the North’s Korean Central News Agency said that North Korean leader Kim Jong-un

North KoreaJuly 25, 2019

Korea provides evidence of Russian warplane’s airspace intrusion

South Korea presented Russia with evidence of a Russian warplane’s airspace intrusion Thursday, during a working-level meeting over a recent intrusion into Korea’s territorial skies, Seoul’s Defense Ministry said, as the two sides maintain conflicting accounts of the incident.　“During the working-level meeting, the Defense Ministry provided a detailed explanation with evidence that the Russian military aircraft violated South Korea’s airspace,” the ministry sa

DefenseJuly 25, 2019

[David Ignatius] US military muscle in Persian Gulf

ABOARD THE USS BOXER IN THE PERSIAN GULF -- Capt. Ronald Dowdell was on the starboard side of the bridge, looking toward Iran, as his vessel passed through the Strait of Hormuz on July 18. He’d been monitored by Iranian helicopters and speedboats, but now a drone was closing fast. Dowdell ordered his crew to disable the drone because it “looked like a potential threat,” he said in an interview on that same bridge Tuesday. The danger signs were the drone’s proximity to the

ViewpointsJuly 25, 2019

Hyundai Motor to launch AI center in Silicon Valley this year

Hyundai Motor Group plans to launch a research unit of its artificial intelligence division in the heart of Silicon Valley within this year, establishing its first overseas division entirely for AI development, the company said Thursday.The AIR Center will be the latest addition to Hyundai Motor’s AI projects. The carmaker launched the Artificial Intelligence Research Lab late last year and hired Kim Jeong-hee, a South Korean expert in deep learning and former leader of Naver Lab’s i

MobilityJuly 25, 2019

Korea to raise tax credit rate for corporate facility investments, R&D

The South Korean government announced Thursday that it plans to raise the tax credit rate for corporate facility investment and research and development in an effort to stimulate the economy by lifting the tax burden on firms. The government’s announcement of its 2019 tax code revision bill, comes amid an escalating trade row between Korea and Japan, after Tokyo placed export restrictions on key materials needed for semiconductors and display screens, as well as a slew of pessimistic econo

EconomyJuly 25, 2019

Hyundai Motor chief meets Indonesian leader for future investments

Hyundai Motor Group Executive Vice Chairman Chung Euisun on Thursday held talks with Indonesian President Joko Widodo to discuss the carmaker’s market entry and future investment plans, according to the company.Chung is the first South Korean conglomerate leader to meet President Widodo after his election victory in May. During the meeting held at the presidential palace in Jakarta, the Indonesian leader reportedly sought more investments by Hyundai in the country, touting the carmaker as

MobilityJuly 25, 2019

Homeplus announces expansion of specialized stores, online biz

South Korea’s discount chain Homeplus on Thursday raised the stakes in the competitive retail market here by announcing its full-fledged expansion of specialized branches and online business.During a press conference on its business strategy held in Seoul, Homeplus CEO Lim Il-soon said that the retail giant will aim to raise its online revenue from around 600 billion won last year to 2.3 trillion won by 2021 through innovation that breaks the boundaries of online and offline shopping.Homep

EconomyJuly 25, 2019

[News Focus] Moon’s approval ratings slide in Seoul, Sejong: poll

SEJONG -- One year ago, President Moon Jae-in was gaining support from a dominant portion of people nationwide over his performance in state affairs.Moon’s approval rating had reached 67 percent, according to a poll conducted from July 17-19 last year by Gallup Korea. Only 25 percent of the 1,000 surveyed responded that they did not support him.His collective approval rating across the country was roughly in proportion to figures in the Seoul metropolitan area and North and South Chungcheo

PoliticsJuly 25, 2019

LG Chem invests W500b for battery plant in Gumi

LG Chem will invest 500 billion won ($424 million) in building a 60,000 ton-capacity cathode material plant in Gumi, north Gyeongsang Province by 2024, the company said Thursday. Cathode is one of the four main parts of a lithium ion battery, alongside the anode, electrolyte and membrane. The cathode accounts for 40 percent of the raw materials cost of electric vehicle batteries. “Starting with the investment in Gumi, LG Chem will kick spur into producing its own core materials for batteri

IndustryJuly 25, 2019

SK hynix to downsize production amid profit plunge

SK hynix, the second-largest chipmaker in the world, announced Friday its lowest quarterly operating profit in three years in the second quarter of this year, and has decided to downsize production amid growing concerns about demand recovery and impact of the trade dispute with Japan.The company said it posted 6.45 trillion won ($5.46 billion) in sales during the April to June period, down 38 percent from a year earlier, while recording 638 billion won in operating profits. Second-quarter operat

TechnologyJuly 25, 2019