[Newsmaker] Ministry to hold disciplinary committee on diplomat accused of leaking Moon-Trump talks

The foreign ministry will convene a disciplinary panel later this week to decide on the penalty for a diplomat accused of leaking the contents of a phone conversation between President Moon Jae-in and US President Donald Trump to a lawmaker, a vice minister said Monday. The diplomat, who worked at the South Korean Embassy in Washington D.C., has been investigated over the allegation he handed over the contents of the phone call to Rep. Khang Hyo-shang of the main opposition Liberty Korea Party.

PoliticsMay 27, 2019

[Contribution] Do we hold too much cash?

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed.After being desensitized for many years by virtually zero interest rates, one can suddenly earn a positive yield on cash again in many major currencies. While the rates may still not be terribly exciting -- 12-month USD Libor yields are now approximately 2.75 percent per annum, for example -- these yields can be seen by some as credible compet

MarketMay 27, 2019

Han Kang hands over book to Norway's 'Future Library' project

Prize-winning South Korean novelist Han Kang has handed over a novel to the Norwegian public arts project "Future Library," with her writing to remain unpublished and unread for nearly a century.The 2016 winner of the Man Booker International prize for her novel "The Vegetarian" has been chosen as the fifth writer for the Norwegian project along with 99 renowned authors including English writer David Mitchell. Their works will be kept in secret and published a century later o

BooksMay 27, 2019

Europe-wide vote fragments center as far right, Greens gain

BRUSSELS (AP) -- The European Union's traditional center splintered in the hardest-fought European Parliament elections in decades, with the far right and pro-environment Greens gaining ground on Sunday after four days of a polarized vote.Turnout was at a two-decade high over the balloting across the 28 European Union countries. The elections were seen as a test of the influence of the nationalist, populist and hard-right movements that have swept the continent in recent years and impelled Brita

World NewsMay 27, 2019

Cannes-winning 'Parasite' hits No. 1 in presale tickets

The Cannes-winning film "Parasite" is on its way to creating a sensation in South Korea, as its presale tickets outnumbered big-name movies.With three days to go before the movie's opening, the data from the Korea Film Council showed that the flick has already sold more than 90,000 presale tickets as of Monday morning. That accounted for 42.3 percent of all tickets reserved as of 9:10 a.m., while Walt Disney's live-action film "Aladdin" posted 19.6 percent. Local crime action

FilmMay 27, 2019

Renault, Fiat Chrysler in talks on alliance: sources

French and Italian-US auto giants Renault and Fiat Chrysler are set to announce talks on an alliance, with a view to a potential merger, informed sources said on Sunday.Renault and FCA are likely to unveil the move "within hours, perhaps tomorrow (Monday), before the (Paris) bourse opens," one of the sources told AFP on condition of anonymity, adding an eventual "merger" was on the agenda.The same source added a statement would cover "the possibility of a convergence bet

World BusinessMay 26, 2019

Former Thai Prime Minister Prem Tinsulanonda dies at 98

Prem Tinsulanonda, who as an army commander, prime minister and adviser to the royal palace was one of Thailand’s most influential political figures over four decades, died Sunday at age 98.His death in a Bangkok hospital was announced by the government’s Public Relations Department. Never married, he leaves no family survivors. Thai Princess Sirindhorn will preside over his initial Buddhist funeral rites on Monday. Prem was best known for his long-standing devotion to the monarchy,

World NewsMay 26, 2019

Strong 8.0-magnitude earthquake hits Peru, no injuries reported

A strong 8.0-earthquake struck northern Peru in the early hours of Sunday, sending residents fleeing their homes and cutting off power to at least one town, with the impact felt as far afield as neighboring Ecuador.There were no immediate reports of injuries following the quake which the US Geological Survey said struck at a depth of 110 kilometers (68 miles).  The quake hit at 2:41 a.m. local time about 75 kilometers southeast of the town of Lagunas, along the Amazon basin near the border

World NewsMay 26, 2019

GS Home Shopping invests $1.2m in Vietnamese home-sharing startup

GS Home Shopping, a leading home shopping channel operator here, said Sunday that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform that targets the Southeast Asian market.The deal marks GS Home Shopping's second such investment in an e-commerce startup based in Vietnam. In January this year, the South Korean company invested $3 million in another e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.Vietnam, one

TechnologyMay 26, 2019

[Monitor] E-cigarette sales on the rise in Korea

Sales of e-cigarettes, electronic devices that simulate the experience of smoking a cigarette, have been rising in South Korea as more people make the switch from traditional cigarettes.According to data from the Ministry of Economy and Finance, e-cigarette sales accounted for 21.3 percent of all cigarette sales in Korea in March this year. In the first quarter of 2019, the figure was 10.9 percent.(khnews@heraldcorp.com)

IndustryMay 26, 2019

Regulator rejects 2 applications for online banks

In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth internet-only banks.One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities.The Financial Services Commission said it accepted the recommendations of an independent evaluation committee that both consortia had put together inadequate bids. The outside evaluators said

MarketMay 26, 2019

[Graphic News] 1 in 7 babies born with low birthweight worldwide

　More than 20 million newborns in 2015 - one in seven - came into the world weighing too little, latest data showed.　Over 90 percent of babies tipping the scale at less than 2.5 kilograms when born were in low - and middle-income countries, researchers reported in Lancet Global Health.　Worldwide, just under 15 percent of 2015 newborns in the 148 countries canvassed had low birthweight, varying between 2.4 percent in Sweden and nearly 28 percent in Bangladesh. 　In sub-Saharan Africa, the number o

World NewsMay 26, 2019

‘A network is no use if you monopolize it’

The occupation of curator is not one that most people are familiar with -- many think it’s all about organizing and planning exhibitions.  Korean curator Lee Dae-hyung is someone who pushes the boundary of what a curator can do. Having started his career as an exhibition curator, Lee has contributed to many local art fairs, has done art consulting for corporations, was the director of the Korean Pavilion at the Venice Biennale in 2017 and is now the team leader of Hyundai Motor’

Arts & DesignMay 26, 2019

[J. Bradford DeLong] Robo-apocalypse? Not in your lifetime

Will the imminent “rise of the robots” threaten future human employment? The most thoughtful discussion of that question can be found in MIT economist David H. Autor’s 2015 paper, “Why Are There Still so Many Jobs?” which considers the problem in the context of Polanyi’s Paradox. Given that “we can know more than we can tell,” the 20th-century philosopher Michael Polanyi observed, we shouldn’t assume that technology can replicate the function

ViewpointsMay 26, 2019

[Adam Minter] China’s brightest are the trade war’s latest casualties

It’s college graduation season in China and the timing couldn’t be much worse for the record-breaking 8.34 million students emerging from university this year. A slowing economy, hobbled further by the trade war, has produced the worst Chinese job market since at least 2015. Among the hardest hit will be the aspiring white-collar workers just now throwing off their caps and gowns. Applicants far outnumber jobs in big cities and salary expectations simply aren’t being met.In rec

ViewpointsMay 26, 2019

[Herald Interview] How to stay competitive in the era of scandals and influencers

Companies are always vulnerable to a variety of attacks. In the digital era, the nature of such attacks -- for instance, a single malicious post by an influencer with millions of followers -- is far more unpredictable and, if mishandled, critical, due to the sheer amplifying effect of social media.Jeff Cunningham, a professor of practice in global leadership at Thunderbird School of Global Management of Arizona State University, said a new type of leadership is needed to better cope with such on

PeopleMay 26, 2019

Transport ministers forge alliance for connectivity, discuss development gap

LEIPZIG, Germany -- An annual forum of transport ministers around the world wrapped up Friday, strengthening an alliance to create better connectivity for regional prosperity, but leaving questions about developmental imbalance in the sector between advanced and emerging countries.The International Transport Forum, dubbed “the Davos of transport,” brought more than 1,000 government representatives, experts and business leaders from 71 countries to the German city of Leipzig, serving

MobilityMay 26, 2019

[Eye on Business] Can Sonokong become a Korean Marvel?

A few years ago, it seemed like nothing could stop Korea’s top toy supplier Sonokong.But alongside a dip in sales, allegations of irregularities and aggressive marketing dented the company’s image.Now back in the black and armed with a partnership with Mattel, the company is trying to replicate its domestic success overseas, but it remains to be seen if its turnaround can gain momentum.The company’s toys -- ubiquitous in Korea -- range from the megahit transformation car-robots

IndustryMay 26, 2019

Toyota joins SUV competition with all-new RAV4

Toyota has strengthened its lineup by launching the all-new RAV4 in South Korea to meet the growing demand for sport utility vehicles. With RAV4, short for Robust Accurate Vehicle 4 Wheel Drive, is Toyota’s first fully changed model in six years and the Japanese carmaker aims to hit a monthly sales target of 3,000 units, officials said during a launch event Thursday.“The all-new RAV4 was developed to offer the joy of driving in any given environment,” said Toyota Korea Presiden

MobilityMay 26, 2019