Samsung Electronics VP heads to Japan amid export curbs on chips materials

Samsung Electronics Vice Chairman Lee Jae-yong traveled to Japan on Sunday, apparently to meet with local business leaders and discuss Seoul's response to Tokyo's retaliatory limits on exports of high-tech materials.Japan said last week it would tighten regulations on exports of materials used in chips and smartphone displays to South Korea amid a widening dispute over Koreans who were forced to work for Japanese companies during World War II. Samsung Electronics and other chipmakers are experie

IndustryJuly 7, 2019

Gyeongnam FC terminate contract with ex-Premier Leaguer Mutch

South Korean football club Gyeongnam FC have cut ties with former Premier Leaguer Jordon Mutch.The K League 1 team said Sunday that they have terminated their one-year deal with the 27-year-old English midfielder, citing Mutch's failure to make an adequate transition on and off the field.Mutch, who previously played for Birmingham City, Cardiff City, Queens Park Rangers and Crystal Palace in the Premier League, signed with Gyeongnam in February. But he only played eight matches and netted one go

SoccerJuly 7, 2019

Over 2,600 athletes to compete at swimming world championships in S. Korea

More than 2,600 athletes from 194 countries will compete at the upcoming world swimming championships in South Korea.The organizing committee for the FINA World Aquatics Championships in Gwangju, 330 kilometers south of Seoul, announced Sunday that 2,639 athletes across six disciplines will take part in the July 12-28 competition. Registration closed last Wednesday.They will be vying for 76 gold medals in swimming, diving, water polo, artistic swimming, open water swimming and high diving.With 8

More SportsJuly 7, 2019

[Herald Interview] Bucheon film fest winner presents personal mental horror

Shotgun blasts rip through the tranquil scene of a coffeehouse to open “Daniel Isn’t Real,” a psychological horror film that recently debuted at the genre-focused Bucheon International Fantastic Film Festival. The portrayal is horrific in its intensity and brevity, cutting away quickly and returning moments later with police tape up and haphazard sheets unable to contain the crimson carnage draining down the floor. From the other side of the tape, an 8-year-old Luke who has jus

FilmJuly 7, 2019

[Graphic News] Japan resumes commercial whale hunting

　Japan began its first commercial whale hunts in more than three decades on July 1, brushing aside outrage over its resumption of a practice that conservationists say is cruel and outdated.　The hunts come after Japan decided to withdraw from the International Whaling Commission, a move slammed by activists and anti-whaling countries but welcomed by Japanese whaling communities.　The country’s Fisheries Agency said it had set a cap for a total catch of 227 whales through the season until lat

World NewsJuly 7, 2019

Hyundai E&C launches Caisson 227 at Singaporean reclamation site

Hyundai Engineering & Construction has successfully launched Caisson 227, a structure the size of a 12-story building that will play a critical role in Singapore’s Tuas Finger 3 reclamation project, the company said Sunday.A caisson is a hollow concrete structure that is used in the foundation of a bridge, breakwater or wharf. The 29-meter Caisson 227 will have its own 20,000-ton floating dock, increasing construction efficiency, Hyundai E&C said.The launch of Caisson 227 signals m

IndustryJuly 7, 2019

Japan’s export curbs bring attention to Tokyo’s capital in local market

Japan’s decision to restrict key supplies for South Korea’s semiconductor industry has shed light on the considerable size of Japanese investment in the nation’s financial market, stoking concerns over its impact on the nation’s economy if political bickering spreads to the capital market.According to data from the Korea Center for International Finance on Sunday, Japanese banks held nearly 21 trillion won ($17.6 billion) worth of outstanding loans in Korea. The instituti

MarketJuly 7, 2019

Korea No. 12 in world GDP rankings: World Bank

South Korea ranked 12th out of 205 countries in terms of gross domestic product in 2018, maintaining its spot from a year earlier, the World Bank said Sunday. The country’s gross national income, or earnings per person, came in at No. 30 in the world. The World Bank data showed Korea’s GDP in the cited period amounted to $1.6 trillion.  Korea had ranked 14th between 2009 and 2013 before climbing a notch to No. 13 in 2015 and reaching No. 11 in 2015 and 2016. The country then sli

IndustryJuly 7, 2019

[Andrew Sheng] After the protests, what next? A debate on liberalism

The old order is broken. No less than Russian President Putin has declared the neoliberal order “obsolete.” We now have to think the unthinkable -- every dream has turned into a nightmare -- the land of the free no longer seems to welcome anyone, while the freest economy in the world is under siege by massive protests.What is the New Order? How do we deal with the myriad problems of inequality, climate change, technological disruption to jobs, de-globalization and fragmentation of so

ViewpointsJuly 7, 2019

[Nisha Gopalan] If Masayoshi Son won’t invest in Japan, why should you?

Softbank Group’s Vision Fund has invested its $100 billion cash pile in 75 unicorns around the world. Not a single one is from Japan, its own backyard.That may be because the pickings are slim: While the US has 179 unicorns (private startups valued over $1 billion), China 93 and India 18, Japan has just two, according to CB Insights. How can a country that pioneered the Walkman and android robots fail to produce more valuable startups? The explanation may be somewhat arcane, but helps get

ViewpointsJuly 7, 2019

Incheon National University hosts second Hanseatic League of Universities Conference

The Hanseatic League of Universities -- a group of 10 universities in the US, Asia, Europe, and Africa -- held a joint conference Thursday to discuss educational reform measures and university evaluation systems.The conference, hosted by Incheon National University, was attended by some 200 personnel from 70 universities from the regions and their ambassadors to Korea.Ban Ki-moon, former secretary-general of the United Nations who chairs the national committee on climatic environment, said in hi

Social AffairsJuly 7, 2019

Why paint flowers in 2019?

The still-life painting genre may not hold much appeal for contemporary artists, since it does not leave much room for new discoveries. Flower paintings might be seen as especially outmoded. But in an art scene dominated by conceptual art, local painter Kim Sung-yoon’s focus on flowers is as bold as it is refreshing. “Many expressed worries when I said I wanted to paint flowers, but I think flower paintings are still a good means to communicate with the viewers,” Kim said durin

Arts & DesignJuly 7, 2019

Song Hye-kyo makes first appearance after divorce announcement

Actress Song Hye-kyo made her first official public appearance on Saturday, about a week after her husband, Song Joong-ki, announced that he had filed for divorce. On July 6 the actress attended an event in Sanya, on the Chinese island of Hainan, to promote South Korean cosmetic brand Sulwhasoo.Photos of her at the event immediately went viral as Harper’s Bazaar Hong Kong shared them on its Instagram page.The pending divorce between the two was announced June 27 through Song Joong-ki&rsquo

PeopleJuly 7, 2019

[Management in Korea] Rather than copy chaebol, Korean SMEs need to create new models of success

Management in Korea is a regular column written by representatives of Egon Zehnder Seoul. It touches on various topics concerning Korean enterprises and business leaders and offers management tips. -- Ed.Chaebol played a critical role in South Korea’s recovery after the Korean War and then in enabling the nation to become an economic powerhouse. But to remain competitive in today’s environment, it is essential for Korea to also have vibrant small and midsized businesses to drive inno

EconomyJuly 7, 2019

[Going Renewable (5)] South Korea faces solar power dilemma

The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.Solar energy is among the keys in the Moon Jae-in administration’s push for renewable energy in response to concerns about life-threatening air pollution and demand for cleaner and safer energy. In December 2017, the government announced “Renewable Energy 2030,” aiming to increase renewable energy’s share of generation capa

IndustryJuly 7, 2019

Korea embarks on W160b project to develop disruptive technologies

The South Korean government has embarked on a 160 billion won ($136 million) project to develop disruptive technologies, including technologies to produce electric vehicles capable of traveling more than 600 kilometers after just one minute of charging, officials said Sunday.The seven-year project, called “Alchemist,” is a follow-up to the “manufacturing renaissance” vision and strategy announced by the Industry Ministry in June. It will cover six categories of products,

IndustryJuly 7, 2019

Tensions spike ahead of prosecutor-general nominee confirmation hearing

The ruling Democratic Party of Korea and the main opposition Liberty Korea Party on Sunday geared up for a full-fledged battle in the parliamentary confirmation hearing for Prosecutor-General nominee Yoon Seok-youl.The nomination of reform-minded Yoon has drawn fierce objection from the opposition bloc, which opposes the Moon Jae-in administration’s drive to reform the prosecution and adjust the authority of the police and the prosecution.With tensions running high, both the Democratic Par

PoliticsJuly 7, 2019

Police arrest Korean man accused of beating Vietnamese wife

A 36-year-old South Korean man was arrested Saturday on suspicion of assaulting his wife and abusing their toddler son, police said Sunday.According to police, the man is accused of assaulting his wife, 30, for over three hours starting Thursday at 9 p.m. in the presence of their child. The victim came to Korea from Vietnam as a marriage migrant.　A video of the physical and verbal assault, which took place at the couple’s home in Yeongam, South Jeolla Province, was posted on social media S

Social AffairsJuly 7, 2019

Preparation underway for US-N. Korea working-level talks

Top negotiators of South Korea and the US will meet in Germany this week in an apparent move to coordinate and discuss details of upcoming working-level talks between Washington and Pyongyang, aimed at the denuclearization of the Korean Peninsula. Seoul’s Foreign Ministry said Sunday that Lee Do-hoon, special representative for Korean Peninsula peace and security affairs, will visit Germany from Tuesday to Friday to meet with Ina Lepel, director general for Asia and the Pacific of the Fede

North KoreaJuly 7, 2019