[Newsmaker]Mobility startups protest government’s ride-sharing reform plan

South Korea’s major mobility startups raised their voice against the government’s latest plan to overhaul the controversial ride-sharing business here, saying Wednesday that the envisioned rules favor taxi drivers and bigger firms.In a statement released after the Transport Ministry announced its reform plan for the country’s mobility industry, VCNC, which runs the popular ride-hailing service Tada, said the government’s plan would only build higher barriers and prevent s

TechnologyJuly 17, 2019

KCCI head calls for full support businesses seeking alternatives amid Japan’s export curbs

SEOGWIPO, Jeju Island -- Amid the growing tension between South Korea and Japan, the head of the largest organization representing businesses here urged the government and political parties to provide full support to cope with Tokyo’s trade restrictions. Stressing on the need to face challenges in a calm manner and seek countermeasures, Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, asked the Moon Jae-in administration to aid businesses seeking alternatives. 

IndustryJuly 17, 2019

Japan’s trade curbs will impact global industry: Seoul official

Japan’s recent decision to impose tighter restrictions on exports to South Korea of key materials for the semiconductors and display industries will take a toll on the global tech industry, Seoul’s government official said Wednesday. “It will adversely affect companies ranging from Apple, Amazon and Dell to Sony and billions of consumers all over the world,” he told foreign reporters based in Seoul on the condition of anonymity. The trade measure, which was taken by Tokyo

Foreign AffairsJuly 17, 2019

Baekje tomb remnants found in Gongju

A state-run research center has found traces of 41 Baekje-era tumuli near the tomb of King Muryeong in Gongju, some of which could turn out to be newfound royal tombs, the Cultural Heritage Administration said Wednesday.The discovery was made during research conducted as part of a long-term study on the tumuli at Songsan-ri -- part of the UNESCO World Heritage Site known as the Baekje Historic Areas -- according to the CHA affiliate the Buyeo National Research Institute of Cultural Heritage

CultureJuly 17, 2019

[Monitor] Koreans make up 24.1% of Japan visitors: data

With boycotts of Japanese products becoming more widespread in South Korea in response to Tokyo’s export restrictions, accompanied by calls to stop visiting the neighboring country in a show of protest, data showed that Koreans were the second-largest group of visitors to Japan, the largest being Chinese travelers.The data from the Japan National Tourism Organization showed that almost 7.54 million Koreans traveled to Japan in 2018, making up 24.1 percent of all visitors to the country. It

EconomyJuly 17, 2019

S. Korea’s Trade Ministry refutes Japan by revealing catch-all system

The Ministry of Trade, Industry and Energy on Wednesday released details of its “catch-all system” for the country’s trade controls for security, refuting one by one Japan’s claims that South Korea’s system is insufficient.The ministry reiterated that Korea has been controlling exports of both strategic and nonstrategic items under stricter conditions than Japan.Japan has raised as a reason for its export restrictions of key materials for South Korea’s tech fi

EconomyJuly 17, 2019

UNIST team develops world’s first ternary semiconductor

A research team led by Kim Kyung-rok at Ulsan National Institute of Science and Technology successfully implemented the world’s first ternary semiconductor design on a large wafer, which will help development of low-power and high-computing microchips in the future, according to Samsung Electronics on Wednesday.  The ternary semiconductor architecture is expected to contribute to developing high-computing chips that are essential for artificial intelligence, autonomous driving, the in

TechnologyJuly 17, 2019

Popular online community of Korean travelers to Japan goes on hiatus in protest

South Korea’s biggest online community dedicated to travel in Japan declared a hiatus Wednesday in a show of support for widespread protests here that increasingly involve boycotts of Japanese goods and services. The protests are a response to the Japanese government’s recent decision to curb exports of high-tech materials to Korea. Founded in 2003, the community, Naver’s Japan Travel Friend, has more than 1.3 million members who share travel tips and information on things to d

TravelJuly 17, 2019

What makes an artist?

A large drawing stretches from one end of the wall to the other, depicting accidents at construction sites in the upper half and several vehicles lined up in the lower half. In the space in between, letters and numbers relay information on the accidents.The 10-meter wide drawing, “Accident,” by Byun Yoo-bin is part of “The Eyes of Astonishing Artists” running at the Seoul National University Museum of Art’s exhibition. “Byun drew the work in a month period. H

Arts & DesignJuly 17, 2019

Japan’s export curbs to top agenda of President Moon’s meeting with party leaders

President Moon Jae-in and chairpersons of five political parties will gather for a meeting at Cheong Wa Dae on Thursday afternoon to discuss ways to navigate Japan’s trade regulations.The chairpersons are Lee Hae-chan of the ruling Democratic Party of Korea, Hwang Kyo-ahn of the main opposition Liberty Korea Party, Sohn Hak-kyu of the minor conservative Bareunmirae Party, Chung Dong-young of the minor opposition Party for Democracy and Peace, Sim Sang-jeung of the progressive Justice Party

PoliticsJuly 17, 2019

Korea better than Japan in strategic trade controls: US think tank

Korea has exceeded Japan in controlling trade of strategic materials, a report by a US research institute showed, amid a trade spat between the two neighboring countries as Tokyo blamed “weaknesses” in Seoul’s export control system for its latest restrictions in exports to Korea.South Korea ranked No. 17 among 200 countries surveyed in terms of the effectiveness of national strategic trade controls in a study by the Institute for Science and International Security, a nonprofit

Foreign AffairsJuly 17, 2019

[Kim Myong-sik] South Korean military lowers guards against North prematurely

South Korea currently ranks 12th in terms of economic power of nations. It ranks a little higher in international researchers’ comparison of military strength. The oft-quoted Global Fire Power website listed the Republic of Korea as seventh in the world in its 2019 report. Based on a total of 55 metrics -- including weapons diversity, total population, military manpower and financial capabilities -- the GFP index covering 137 countries put South Korea below the US, Russia, China, India, Fr

ViewpointsJuly 17, 2019

[Timothy L. O’Brien] Trump’s ‘go back’ tweets leave no room for doubt

As he has so many times since bursting onto the presidential stage in 2015, Donald Trump played the race card Sunday. He launched nearly three dozen broadsides on Twitter throughout the day, but a trio of his tweets stood out because they demonstrated how casually he likes to uncork his venom and how unwilling the Republican Party is to contain him.Trump was targeting four new Democratic congresswomen of color (nicknamed the “Squad”) who have become ubiquitous advocates for progressi

ViewpointsJuly 17, 2019

[News Focus] Portion of pessimists over economy hits record: poll

SEJONG -- A large proportion of self-employed people have closed their businesses and joined the growing number of jobless people over the past two years. Simultaneously, the state payment of unemployment benefits has climbed to an all-time high.The Moon government started providing some young jobless people with 3 million won ($2,540) for six months per individual, while the number of people who lost jobs has been drastically increasing among those in their early 50s, 40s and late 30s. The

EconomyJuly 17, 2019

Counseling clinic for migrant women to open Friday in Incheon

A counseling clinic for migrant women is slated to open Friday in Incheon, the Ministry of Gender Equality and Family said Wednesday.The clinic will provide legal, medical and psychological counseling services to migrant women who are victims of domestic violence and sex crimes and other crimes, according to the ministry. The services will be provided in Korean as well as the native language of the client by in-house interpreters at the clinic or via the ministry-operated hotline for migran

Social AffairsJuly 17, 2019

Prosecutors demand jail for policemen who took bribes from Gangnam club

Prosecutors demanded a two-year jail term for two police officers accused of taking bribes from a club in Gangnam, Seoul, in exchange for covering up illegalities in the club’s operations.At a hearing Wednesday at Seoul Central District Court, prosecutors requested two years in jail for a lieutenant surnamed Yeom and sergeant surnamed Kim, saying the two had abused their authority in committing the crimes. Prosecutors also asked that the bribes they took be forfeited.The date of their sent

Social AffairsJuly 17, 2019

Moody’s issues Daelim Industrial Baa2 rating

Global credit rating agency Moody’s Investors Service said Wednesday that it has assigned South Korean construction and petrochemical company Daelim Industrial a Baa2 grade with a stable outlook. According to Daelim Industrial, it is the first construction company in Korea to be given a global rating. On Moody’s rating scale, Baa2 stands ninth out of 21 and is considered a medium grade, indicating a moderate credit risk. SK hynix and S-Oil have been assigned the same rating.“Da

IndustryJuly 17, 2019

[News Focus] Korean tech firms seek localization, diversification amid escalating trade row

To combat growing trade risks with Japan, South Korean chip and display makers are seeking ways to localize key materials and diversify supply sources, although it appears difficult in the short term. On July 1, the Japanese government tightened its export procedures to Korea of three classes of hi-tech materials crucial to the production of chips and display panels. They include fluorinated polyimide, photoresist and hydrogen fluoride, used mostly by Samsung Electronics, SK hynix, Samsung Displ

IndustryJuly 17, 2019

South Korean FIs nervous on trade row with Japan

With mounting anti-Japanese sentiment, financial institutions in South Korea, especially lenders, are closely monitoring how it could affect them, according to sources Wednesday. Tokyo’s decision to tighten controls on exports of key materials needed for the Korean tech industry, coupled with mounting tensions over Japan’s wartime forced labor has fueled strong anti-Japanese sentiment here in recent weeks. Of the four major commercial banks in Korea, Shinhan is known to have a s

MarketJuly 17, 2019