[Bills in Focus] Disclosure of EV battery manufacturer info, national power grid expansion

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Park Sang-hyuk (Democratic Party of Korea) ● Although corporate directors have a duty of loyalty toward their company, they have no legal obligations toward their shareholders. Therefore, to protect shareholders from the decisions of directors, this bill imposes a duty of fairness on directors. Proposed Bill: Partial Amendment to the Motor Vehicle Management Act Proposed by Rep. Han Jeoung-ae (Democratic Party of Korea) ●

PoliticsSept. 2, 2024

Mongolia hopes for summit with S. Korea: Mongolian presidential chief of staff

Mongolia hopes for a bilateral summit with South Korea with the leaders of the two countries paving the way to improve ties for the future, according to Gombojavyn Zandanshatar, Chief of Staff to the Mongolian President. During a breakfast meeting at the 2nd Korea-Mongolia Vision Strategy Forum, hosted by Herald Corp. — publisher of The Korea Herald and Herald Business — and the Ahnsei Foundation at the Novotel in Ulaanbaatar on Aug. 27, Zandanshatar stated, "We planned two su

Social AffairsSept. 2, 2024

Health minister seeks to soothe concerns over hospital emergency rooms

Health Minister Cho Kyoo-hong on Monday tried to soothe concerns about hospital emergency rooms, as some doctors have warned of a potential disruption of emergency care due to a prolonged walkout by trainee doctors. "Although there are some difficulties, we believe that emergency rooms are capable of maintaining operations," Cho told an SBS radio. "The issues extend beyond emergency rooms to follow-up treatments, which were present even before the walkout by the medical community,

PoliticsSept. 2, 2024

Seoul shares open lower on large cap losses

South Korean stocks opened lower Monday with most large caps in negative terrain. The benchmark Korea Composite Stock Price Index shed 7.73 points, or 0.29 percent, to 2,666.58 in the first 15 minutes of trading. The index had dipped more than 1 percent Thursday on reports of worse-than-anticipated performance by artificial intelligence giant Nvidia, before slightly rebounding on bargain hunting the following day. US stocks closed higher Friday on growing hopes of a US rate cut, with the US Fede

MarketSept. 2, 2024

Experts call for innovation in content retail, seasons format for K-dramas

The K-drama industry must improve its overseas retail strategies and adopt seasonal formats to become an IP powerhouse, according to media experts. During "Korea In View," a series of talk sessions held Thursday as a part of Broadcast Worldwide (BCWW) 2024, the chief researcher at Export-Import Bank of Korea remarked that Korea currently suffers from its content being stockpiled. Broadcast Worldwide (BCWW) 2024 is an annual gathering of global broadcasters. "It's true that K-

TelevisionSept. 2, 2024

[Graphic News] Kyochon tops brand rankings for chicken franchises

Recent data from the Korea Fair Trade Commission showed that franchises had grown to account for over 70 percent of the local fried chicken market. According to a recent big data analysis by Rankify, Kyochon Chicken claimed the leading position in the brand index rankings for South Korean chicken franchises, earning 20,135 points. Goobne Chicken followed in second place with 11,110 points. BHC Chicken secured third place, with 60Gye Chicken in fourth and Norang Tongdak rounding out the top fiv

Social AffairsSept. 2, 2024

[Jean Pisani-Ferry] What is needed to awaken Europe?

The European Union is facing three major crises. The first is a competitiveness crisis that was already apparent in the late 2010s but has worsened, leading to lackluster productivity and growth performance. More recently, Russia’s invasion of Ukraine created a security crisis that is compounded by the bloc’s deteriorating relationship with China. The war also triggered an energy crisis that puts Europe at a disadvantage relative to its major competitors, the United States and China.

ViewpointsSept. 2, 2024

[Yoo Choon-sik] Rising housing prices in Seoul and trust in policy

An efficient economic policy is not necessarily one that simply achieves its intended goal regardless of side effects, but rather one that economic players trust, believing it was based on a correct assessment of the situation and expected effects from the policy. Measured against this criterion, South Korea’s recent policies and top officials' comments on rising house prices in the capital area fall short of being efficient -- not because they will fail to curb housing prices, but be

ViewpointsSept. 2, 2024

[Photo News] Art-dining performance by Han River

CultureSept. 1, 2024

S. Korea, Japan in last-minute arrangements for visit by PM Kishida: presidential office

South Korea and Japan have been in last-minute arrangements for the agenda of Japanese Prime Minister Fumio Kishida's visit, a senior official at the office of President Yoon Suk Yeol said Sunday. "Final arrangements on the itinerary and agenda are being discussed," the senior presidential official told reporters, without providing further details. Japan's Kyodo News earlier reported Kishida was considering holding summit talks with Yoon in South Korea in early September befo

PoliticsSept. 1, 2024

China's Lu ends badminton title drought at Korea Open

China's Lu Guangzu won his first title on badminton's world tour in six years when he beat Taiwan's Lee Chia-hao in the Korea Open final on Sunday. World number 13 Lu, the tournament's number seven seed, came through a hard-fought tussle 21-16, 20-22, 21-18 to lift his first trophy since the Canada Open in 2018. World number 30 Lee was unseeded in Seoul. China's world number one Shi Yuqi was eliminated in the quarter-finals, while Denmark's Viktor Axelsen, who won h

More SportsSept. 1, 2024

Yoon not to attend opening ceremony of National Assembly session: presidential office

President Yoon Suk Yeol will not attend the opening ceremony of the regular session of the National Assembly early this week, a presidential official said Sunday, citing the opposition party's unilateral actions to pass critical bills. The National Assembly is set to begin its regular session on Monday and it is customary for the president to attend the opening event and deliver a speech. "It is appropriate to first normalize the National Assembly, which has been misusing special couns

PoliticsSept. 1, 2024

Korea, Mongolia explore energy cooperation at Vision Forum

South Korean and Mongolian government officials discussed opportunities for cooperation in green energy, mineral resources and trade, emphasizing a shared vision for mutual growth and strategic partnership at the 2024 Korea-Mongolia Vision Forum held Tuesday in Ulaanbaatar, Mongolia. About 250 representatives from the government, state-run organizations and academic and political sectors attended the event co-hosted by the Ahnsei Foundation, Herald Corporation, Yonsei University and Korea Univer

EconomySept. 1, 2024

1 dead, 4 injured in apparent arson at game hall

YEONGAM, South Korea -- One person died and four others were injured Sunday in an apparent act of arson at a game hall in the southwestern county of Yeongam, police and fire authorities said. The fire was put out 20 minutes after a report was filed at 1:29 p.m. but a Chinese national was found dead, they said. One of the four employees and visitors who suffered injuries was reportedly in a critical condition. A preliminary probe showed that the Chinese national allegedly started the fire and tha

Social AffairsSept. 1, 2024

As Frieze returns to Seoul, galleries bustle with must-see shows

Ahead of Frieze Seoul kicking off on Sept. 4, Seoul is in a festive mood with numerous art exhibitions and events taking place at museums, galleries and auction houses around the city. In a two-part series, The Korea Herald offers a roundup of selected events in the city -- in southern and northern parts of the capital. The following piece is the first in the series. -- Ed. Its streets lined with flagship stores of luxury brands, Cheongdam-dong, a neighborhood in Seoul south of the Han River, is

Arts & DesignSept. 1, 2024

Forum envisions closer Korea-Mongolia partnership

From rare minerals and smart city projects to cultural collaborations, South Korea and Mongolia have ample avenues to build mutually beneficial partnerships, leaders of the two countries stressed at a recent forum in Ulaanbaatar. At the Korea-Mongolia Vision Forum, held at the Novotel in the Mongolian capital on Aug. 27, 26 speakers from politics, business, civil society and academia engaged with an audience of about 250, exploring ways to enhance bilateral cooperation and promote private-sector

IndustrySept. 1, 2024

[KH Explains] Will battery brand awareness influence EV shoppers in Korea amid safety concerns?

Starfield Hanam, a shopping complex located in Gyeonggi Province just east of Seoul, is home to South Korea’s first Tesla showroom, which opened its doors in 2017. Here, the allure of Tesla vehicles has always drawn a crowd, but recently, a different kind of interest has been brewing among potential buyers -- an interest not just in the cars themselves, but in the batteries that power them. Recent high-profile EV fires in Korea have sparked public concern about the reliability of the batte

MobilitySept. 1, 2024

S. Korea announces 'offensive cyber defense' strategy

The South Korean presidential office on Sunday unveiled a comprehensive cybersecurity plan with 100 actionable tasks, including measures for enhanced "offensive cyber defense" strategies to proactively counter and neutralize those with intentions of spreading fake information such as deepfakes in cyberspace. The presidential Office of National Security announced the "National Cybersecurity Basic Plan," a collaborative effort developed by 14 government ministries and organizat

Foreign AffairsSept. 1, 2024

Man chases down thief who stole woman's bag as she was attempting suicide

While a woman was attempting to take her own life by jumping into the Han River in Seoul, a man stole her bag and fled the scene on a bicycle. Amid the chaotic chase that ensued, another man on a motorcycle chased the suspect down to assist the police in catching him. The Seoul police said recently that Mapo Police Station has awarded a man surnamed Lee a certificate of appreciation for his assistance in stopping the suspect from getting away on Aug. 18, after the suspect stole the bag of a woma

Social AffairsSept. 1, 2024