[Noah Smith] South Korea foreshadows gray, slow-growth future

In 1960, South Korea had a total fertility rate of more than six children per woman, high enough to cause a population explosion. But as the country developed, this number dropped decade by decade:A country needs a fertility rate of about 2.1 -- a little more than one child per parent -- to maintain long-term population stability. South Korea’s fertility is now about half that number. And it’s still falling. The country’s statistics office reported that in 2018, the fertility r

ViewpointsJuly 21, 2019

[Ann McFeatters] What is the definition of a racist in 2019?

It is astounding that 159 years after the end of the Civil War we are having a full-throated debate about whether the US president is a racist. Or is that surprising?Donald Trump’s tweet that four Democratic congresswomen of color should “go back and help fix the totally broken and crime infested places from which they came.” (Three were born in the US; another is a legal immigrant) caused the House of Representatives to pass a resolution denouncing his comments. It was, perhap

ViewpointsJuly 21, 2019

Stocks held by K-pop agency owners plummet

The value of stocks owned by both former and current entertainment agency owners in South Korea have dropped nearly 30 percent compared to last year, data showed Sunday, as the industry struggles to cope with a slew of scandals as well as trade tensions between Korea and Japan, a key market. According to conglomerate research firm Chaebul.com, the combined value of stocks held by seven most stock-rich entertainment agency owners fell 28.7 percent to 512 billion won ($435.5 million) as of Fr

MarketJuly 21, 2019

One found dead as typhoon alert lifted

Typhoon Danas, which battered the southern provinces over the weekend, left one dead, one injured and nine displaced, authorities said Sunday.In latest reported fatality, a man, 62, was found dead after he was reported missing in a swollen stream in Geochang, South Gyeongsang Province. A rescue team comprising some 80 fire fighters and police officials searched the area after report was at filed 9:42 a.m. Sunday.Other casualties include a fisherman, also in his 60s, who was injured Friday night

Social AffairsJuly 21, 2019

Bolton to visit Korea, Japan amid rising tension

US national security adviser John Bolton will visit South Korea this week after a stop in Japan to discuss the two US allies’ deepening row following Tokyo’s decision to curb the trade of materials crucial for the production of memory chips to Seoul. National Security Council spokesman Garrett Marquis wrote on Twitter that Bolton departed Saturday for Japan and Korea to “continue conversations with critical allies and friends,” without elaborating on details.  B

Foreign AffairsJuly 21, 2019

Samsung seeks to diversify smartphone display, battery suppliers

Samsung Electronics appears to be turning to domestic electronics parts makers, especially for its upcoming mobile devices, amid Japan’s economic reprisal, according to industry sources Sunday. The South Korean tech giant is deemed to be the biggest victim of Japanese restrictions on exports of three key hi-tech materials -- fluorinated polyimide, photoresist and hydrogen fluoride -- which can smother the production of both semiconductors and smartphones. For the Galaxy Fold smartphones, S

TechnologyJuly 21, 2019

[Feature] South Korea’s war on plastic gains momentum

Plastic straws, take-away cups, spoons, chopsticks and multilayered parcels delivered at the doorstep have for long been a regular part of daily life in South Korea.However, amid the increasing awareness of the dangers excessive plastic waste has on marine life, landscapes and human health, there are growing efforts to reduce its use.According to a recent survey of 999 Koreans by Greenpeace Korea, 57.1 percent of respondents said they reduced plastic use over the past year while 41.6 percent sai

Social AffairsJuly 21, 2019

Assembly session ends without results

Days after the June extraordinary parliamentary session ended without addressing key bills, all eyes are on whether a July plenary session will be convened, amid a widening rift between the ruling and main opposition parties.The ruling Democratic Party of Korea on Sunday continued to call for the unconditional ratification of the extra budget bill submitted in April, butting heads with the main opposition Liberty Korea Party that insists on a parliamentary vote on a motion to call for the dismis

PoliticsJuly 21, 2019

Korea to make all-out efforts to lift Japan’s export restrictions

South Korea is sparing no efforts to persuade the international community to press Japan to withdraw its export restrictions on hi-tech materials and impugn Tokyo’s reasoning behind its retaliatory measures. Early this month, Japan announced it would curb exports on Korea’s hi-tech materials crucial to the production of chips and display panels. It also said it plans to remove South Korea from a whitelist of 27 countries that receive preferential treatment for trade with Japan. The J

IndustryJuly 21, 2019

Chong Kun Dang, Dong-A ST to launch Nesp biosimilars in Japan in H2

Korean biopharma firms Chong Kun Dang and Dong-A ST expect to launch their biosimilars in Japan without a headwind, despite escalating trade strife, as their drugs will be represented by Japanese partner firms. The erythropoietin drug Nesp, for which the patent expires in Japan this year, is a catalyst for red blood cell production and can treat anemia from chronic renal failure or anticancer treatments.The original drug is a joint venture of US’ Amgen and Japan’s Kyowa Hakko Kirin.

IndustryJuly 21, 2019

[Feature] How far are we from printing hearts for transplant?

Three-dimensional printing of human organs is not some far-fetched fiction. Active research of the relevant technologies has gained pace around the globe, especially here in South Korea, where the academia, industry and government are paying keen attention to the convergence of medicine, mechanical and computer engineering. For now, Korean technology has come as far as printing skins with cell-encapsulated bioink to replace animal tests.(Video shot by Choi Ji-won and Lim Jeong-yeo, edited by Lim

IndustryJuly 21, 2019

Korea Gas Corp. seeks to expand global presence

State-run Korea Gas Corp. (Kogas) is expanding its global presence in the liquefied natural gas market with its robust technologies and overseas networks. The company is currently participating in 25 global projects in 13 nations, including the exploration, development and production of natural gas. It also includes liquefaction of LNG and the construction and operation of gas pipelines and terminals overseas. Last year, Kogas sold 36 million tons of LNG in Korea after purchasing from Qatar

IndustryJuly 21, 2019

Audit finds failings in investigation of Jeju ex-husband murder

An internal audit has found failings in the police investigation of a woman’s alleged murder of her ex-husband in May on Jeju Island, the National Police Agency said Sunday.Police said internal auditors filed a report with the investigation bureau listing inadequacies in the investigation of the murder of a 36-year-old Jeju man surnamed Kang. His former wife Koh Yu-jeong is accused in his murder.The police agency formed a fact-finding committee on July 2 to review the investigation as publ

Social AffairsJuly 21, 2019

2 SK Innovation subsidiaries acquire 35% stake in Myanmar’s BOC

SK Innovation said Friday that two of its subsidiaries, SK Energy and SK Trading International, have acquired a combined 35 percent stake in Best Oil Co., the second-largest oil retailer in Myanmar. The two companies spent about 150 billion won ($127.7 million) to hold 17.5 percent of BOC’s shares each. BOC has market share of 17 percent in Myanmar’s oil retail market.The deal was aimed at securing stable exports and a trading destination, and making inroads into the foreign ret

IndustryJuly 21, 2019

[Advertorial] LG Chem contributes to society’s sustainable development

LG Chem, the chemical and biopharma business unit of South Korea’s LG Group, has been contributing to social welfare by carrying out a slew of projects supporting education and green energy in line with the United Nation’s Sustainable Development Goals. The firm has been especially focusing on developing its program for elementary and middle school students, utilizing its expertise.  It runs an experience center where students can participate in various science experiments categ

IndustryJuly 21, 2019

[Behind the Wheel] Venue designed for singletons, not exactly for thrills

YONGIN, Gyeonggi Province -- Hyundai Motor’s latest sports utility vehicle Venue targets a specific group of people -- those in their 20s and 30s pursuing a single and minimalist lifestyle. Well, as its name indicates, the vehicle can literally take you anywhere, but the driving experience of Venue, which simply is just a small SUV, is short of enthralling. Let’s admit it. One should not expect too much from an entry-level car with a price range between $13,000 and $18,000. But the l

MobilityJuly 21, 2019

[Newsmaker] 3.9 magnitude quake detected in central S. Korea

A 3.9 magnitude earthquake struck the central South Korean city of Sangju, North Gyeongsang Province, on Sunday, with no damage or injuries reported, the weather agency said.The quake occurred at 11:04 a.m. in Sangju, 270 kilometers southeast of Seoul, according to the Korea Meteorological Administration."No damage is expected but many people might have felt the tremor," said a KMA official.  Tremors from Sunday's quake were felt across the country, with 279 emergency calls report

Social AffairsJuly 21, 2019

Investors pour money into short-term vehicles amid low rates, uncertainty

Investors have increasingly shifted their money to short-term financial instruments, such as money market funds, amid low interest rates and growing economic uncertainties, data showed Sunday. Money market funds are short-term debt securities such as Treasury bills and commercial papers. They are widely considered to be as safe as bank deposits while providing a higher return. The net asset value of MMFs came to 120.18 trillion won ($102 billion) as of Wednesday, breaching the 120 trillion-won t

EconomyJuly 21, 2019

Damage from cryptocurrency-related crimes estimated at 2.7 tr won

The financial damage caused by cryptocurrency-related crimes reached nearly 2.7 trillion ($2.3 billion) over the past two years, government data showed Sunday. The financial loss of scams and fraud involving cryptocurrencies came to 2.69 trillion won between July 2017 and June 2019, according to the data from the justice ministry. The ministry said 132 cryptocurrency-related criminals and fraudsters have been indicted and detained, with another 288 indicted without physical detention over the ci

Social AffairsJuly 21, 2019