The Korea Herald

Trial over gallery‘s fake paintings ends with settlement

NEW YORK (AP) -- A civil trial exposing the ugly underbelly of New York's art world ended with a settlement just as the once highly respected president of a gallery was to testify Wednesday about selling forged fakes of modern masters for millions of dollars.The settlement -- terms of which were not disclosed -- was reached late Tuesday in time for jurors to be notified there was no need to return to Manhattan federal court.Witnesses over two weeks said the final years of a gallery more than 150

PerformanceFeb. 11, 2016

Kia Motors mulling watchdog body for minor shareholders

Kia Motors, South Korea’s second-largest carmaker, Thursday said that it is considering establishing a committee dedicated to protecting minor shareholders‘ rights. The body will be comprised of outside directors to secure transparency and independence. It will reflect minor shareholders’ voices in the company‘s important decisions such as mergers and acquisitions and purchase of major assets among others. (Yonhap)Kia’s idea comes after Hyundai Motor Company, Kia’s sister under Hyundai Motor Gr

IndustryFeb. 11, 2016

Kia Motors mulling watchdog body for minor shareholders

Top art collection to be shown outside Russia for first time

PARIS (AFP) - One of the world's greatest private collections of modern art is to go on show for the first time outside Russia, museum curators told AFP Wednesday.　The collection of more than 250 paintings put together by Sergei Shchukin before the Russian revolution will go display in its entirety in October at the Foundation Louis Vuitton in Paris -- a major coup for the newly-opened gallery. Foundation Louis Vuitton in Paris will host “Icons of Modern Art” from Oct. 20 to Jan. 20, showcasing

PerformanceFeb. 11, 2016

Top art collection to be shown outside Russia for first time

Paul McCartney tries new sound - emojis

NEW YORK (AFP) - The Beatles were masters of concise yet catchy songs and now Paul McCartney is writing tunes that are even more succinct -- to accompany emojis.　The former Beatle announced Wednesday that he has written a series of sounds to go with emojis on video chat service Skype, mostly designed for Valentine‘s Day messages.　“At first I thought, hmm, strange proposition, is this for me? And then I thought, you know what, why not? Something fun, something nice and new,” he said in a video on

PerformanceFeb. 11, 2016

NCSoft sees profits plunge in 2015

Struggling to find growth momentum in the mobile gaming segment, NCSoft saw its net income drop 27 percent in 2015, compared to a year earlier, according to the company’s regulatory filing Thursday.The company posted 166.4 billion won ($139.3 million) in net income while its operating profit stood at 237.5 billion won, down 15 percent compared to a year prior. Kim Taek-jin, CEO of NCSoft (Yonhap)The company earned 838.3 billion won in revenue, slightly down from 838.7 billion won in 2014.The com

TechnologyFeb. 11, 2016

Alibaba buys 4% stake in SM Entertainment for W35.5b

SM Entertainment, South Korea’s leading entertainment agency, said Thursday it has formed a strategic partnership with Chinese e-commerce giant Alibaba Group to strengthen its music marketing in China.Under the deal, Alibaba will purchase 870,000 shares of SM’s newly issued stocks for 40,808 won per share to claim a 4 percent stake in the agency for 35.5 billion won ($29.7 million). SM Entertainment founder and chairman Lee Soo-man (SM Entertainment)The deal will also enable SM to expand its mus

IndustryFeb. 11, 2016

Alibaba buys 4% stake in SM Entertainment for W35.5b

‘The Short Drop’ features strong shades of political thriller

Unbridled power and relentless revenge converge in the exciting, tightly plotted “The Short Drop,” which launches a new series about former computer hacker Gibson Vaughn.　Matthew FitzSimmons delivers an assured, action-packed debut that features strong shades of the political thriller. Fans of Lee Child, Gregg Hurwitz and Harlan Coben will find much to like in “The Short Drop.”"The Short Drop" By Matthew FitzSimmons(Thomas & Mercer)　On the surface, Gibson appears to be the quintessential thrille

BooksFeb. 11, 2016

‘The Short Drop’ features strong shades of political thriller

How the Vatican separates faith from fiction

For legions of Catholics, and not a few church bureaucrats, the supernatural is as real and present as it was for their medieval forebears.　In “The Vatican Prophecies: Investigating Supernatural Signs, Apparitions and Miracles in the Modern Age,” veteran Catholic journalist John Thavis explores their world of Marian apparitions, relics, exorcisms, doomsday visions and other purported encounters with the supernatural."The Vatican Prophecies: Investigating Supernatural Signs, Apparitions and Mirac

BooksFeb. 11, 2016

How the Vatican separates faith from fiction

Gnarr’s ‘The Pirate’ reminisces ‘Catcher in the Rye’

“The Pirate,” the second installment of Jon Gnarr‘s childhood memoir trilogy, is essentially an Icelandic-punk version of “Catcher in the Rye.” Rather than Holden Caulfield wandering the streets of New York looking for someone who is not a phony, Gnarr narrates in pseudo-stream-of-consciousness style through his never-ending search for real punks in Iceland."The Pirate" By Jon Gnarr, Translated by Lytton Smith (Deep Vellum)　Gnarr was diagnosed at a young age with an intellectual disability cause

BooksFeb. 11, 2016

Gnarr’s ‘The Pirate’ reminisces ‘Catcher in the Rye’

Seoul starts withdrawing nationals from Gaeseong complex

South Korea on Thursday began pulling its nationals out of an inter-Korean industrial complex in the North as Seoul moves to close the factory zone over Pyongyang's provocations.South Korea on Wednesday shut down the Gaesong Industrial Complex in the North's border city of the same name, the last remaining symbol of inter-Korean reconciliation, in response to the North's latest nuclear test and long-range rocket launch.The government said its priority is on ensuring that its people can safely re

IndustryFeb. 11, 2016

Man booked for selling Star Wars, Iron Man rip-offs

A man has been booked over suspicions of selling counterfeit merchandise of characters from popular movies like Star Wars and Iron Man, the culture ministry said Thursday.More than 18,000 character goods that infringe copyrights were discovered at a storage unit in Hwaseong, Gyeonggi Province, last Thursday, investigators from the Ministry of Culture, Sports and Tourism said, adding the items are worth a combined 200 million won.Some of them are deemed to be copies from Lego Legends of Chima and

Social AffairsFeb. 11, 2016

Seoul to take steps for safe return of its citizens from North

South Korea will take all measures to ensure that its citizens can return home safely from a troubled inter-Korean factory park in North Korea, an official said Thursday.Presidential spokesman Jeong Yeon-guk made the comments as South Korea began to move its personnel out of the factory park in North Korea's western border city of Gaesong.The factory park, the last-remaining symbol of inter-Korean economic cooperation, is home to more than 120 small South Korean plants that produce garments and

North KoreaFeb. 11, 2016

Golf's new giant slayer hoping for shot at Olympics

After stunning world No. 1 Jordan Spieth with his first professional victory earlier this month, South Korean Song Young-han said Thursday he's hoping for a chance to compete at this year's Summer Olympics.Golf's latest giant slayer made a triumphant return home Thursday after beating Spieth by one shot to win the SMBC Singapore Open on the Asian Tour on Feb. 1."It was an honor to win the tournament by beating the No.1-ranked player. I was fortunate," he told reporters at Incheon International A

GolfFeb. 11, 2016

S.M. Entertainment partners with Alibaba Group

S.M. Entertainment said Thursday it has formed a strategic partnership with Alibaba Group.Under the deal, the Chinese e-commerce giant will buy 870,000 of S.M.'s newly issued stocks for 35.5 billion won, the South Korean management agency said in a regulatory filing. That means Alibaba will own 4 percent of S.M.'s shares.The agency said it will engage in online music distribution, marketing and merchandising in China through Alibaba Music Group."Through this partnership, we'll synergize in vario

EntertainmentFeb. 11, 2016

World's No. 1 men's badminton duo perfect foils for each other

As the world's No. 1-ranked men's badminton doubles tandem, Lee Yong-dae and Yoo Yeon-seong of South Korea will be carrying the weight of the nation when this year's Summer Olympics kicks off in Rio de Janeiro -- though that's not exactly why Yoo has been doing extensive weight training.The 29-year-old only hopes to add to his power game -- defined by his formidable smashes -- that perfectly complements Lee's flair around the net and his defensive wizardry."I fully expect our opponents to come a

More SportsFeb. 11, 2016

US Senate approves harsher sanctions against North Korea

U.S. senators voted unanimously to pass a strong North Korea sanctions bill Wednesday, days after the communist nation sparked global outrage with a banned missile launch following its fourth nuclear test. The Senate approved the North Korea Sanctions Enforcement Act of 2016 in a 96-0 vote, demonstrating bipartisan support for a tough response to Pyongyang's nuclear and missile tests that showed the regime has made strides in efforts to develop nuclear missiles capable of reaching the U.S.The le

World NewsFeb. 11, 2016

US Senate approves harsher sanctions against North Korea

FM calls for toughest U.N. sanctions exceeding Pyongyang's expectations

South Korean Foreign Minister Yun Byung-se said Wednesday that the U.N. Security Council should adopt the toughest possible sanctions resolution on North Korea that goes well beyond Pyongyang's expectations.Yun made the remark during a visit to New York aimed at drumming up international support for stronger sanctions on Pyongyang, stressing the North's four nuclear tests and six long-range missile launches over the past decade represent a direct violation of U.N. resolutions and disrespect for

North KoreaFeb. 11, 2016

Seoul's decision to shut down Gaesong complex 'consistent with' international community's view

South Korea's decision to shut down an inter-Korean industrial complex in North Korea is "consistent with" the international community's view that more steps are necessary to persuade Pyongyang to give up its nuclear and missile programs, a senior U.S. official said Wednesday."I know this was not an easy decision for the government of the Republic of Korea to take and therefore the fact that they made this decision is a compelling indicator of the seriousness with which they regard the provocati

North KoreaFeb. 11, 2016

LG Display tops global UHD TV panel market in Q4

Korean panel maker LG Display Co. regained its status as the top seller of Ultra HD panels in the fourth quarter of 2015, industry data showed Thursday, amid the booming popularity of high-end TVs.LG Display shipped 3.98 million units of UHD TV panels in the October-December period, up 10.5 percent from the previous quarter and accounting for 35 percent of the global UHD panel market, according to the data compiled by industry tracker IHS. LG UHD TV (Yonhap)Another Korean panel maker, Samsung Di

IndustryFeb. 11, 2016

LG Display tops global UHD TV panel market in Q4

NCsoft's 2015 net sinks 28%

NCsoft Corp., Korea's leading online game developer, said Thursday its net profit tumbled 28 percent in 2015 from a year earlier due mainly to increased spending on fresh titles.Net income amounted to 165 billion won ($138 million) last year, compared with a profit of 230 billion won the previous year, the company said in a regulatory filing. NCsoft CEO Kim Taek-jin (Yonhap)Operating profit came to 238 billion won last year, down 15 percent from a year ago, with sales almost unchanged at 838 bi

IndustryFeb. 11, 2016