Mirae Asset chief honored with AIB award

Mirae Asset Financial Group Chairman Park Hyeon-joo has been recognized by the Academy of International Business for expanding the financial service provider's scope of business on a global level. Park received the International Executive of the Year Award from the AIB on July 3. He was the first Asian financier to receive the prestigious award. He was the second South Korean entrepreneur to win the award after SK Group's late Chairman Chey Jong-hyun, the father of the current Chairman

IndustryAug. 7, 2024

Unis aims to become idol for Gen Z

Multinational K-pop girl group Unis returned confident and ready to become an idol representing Generation Z with a new single, “Curious,” on Tuesday. This is the group’s first comeback after its debut through SBS’ idol survival program “Universe Ticket” in March this year. “Our single album is led by the titular track ‘Curious.’ It’s about breaking free from the old me to become a new person. It’s the greatest of all time. It&rsq

K-popAug. 7, 2024

K-pop enthusiast Singaporean businessman David Yong charged with falsification of accounts

David Yong, CEO of Evergreen Group Holdings, who starred in various Korean TV programs and YouTube content introducing himself as a K-pop singer and Singaporean businessman with a 120-billion-won asset in cash, was charged with falsification of accounts on Aug. 3 in Singapore. He allegedly had the intention to defraud by abetting a woman named Jolene Low Mong Han to falsify a tax invoice from Evergreen Assets Management for purported bulk sales of household fittings and appliances. Yong could be

K-popAug. 7, 2024

BTS Suga admits drunk driving, apologizes

BTS member Suga, currently serving military duty as a public service agent, admitted Wednesday to drunk driving on Tuesday. He apologized for his actions and acknowledged his ignorance of the law regarding the use of electric scooters while intoxicated. “Last night, after drinking alcohol at dinner, I rode an electric scooter home. Underestimating the short distance and failing to recognize that the use of electric scooters is prohibited while under the influence, I violated traffic laws,&

K-popAug. 7, 2024

[Herald Review] ‘Mission: Cross,’ a high octane action flick with comedic elements

Kang-moo (Hwang Jung-min) is a stay-at-home husband who cooks and cleans while his wife Mi-seon (Yeom Jung-ah) is a veteran crime squad team member who was once an Asian Games silver medalist in shooting. Kang-moo, a warm-hearted man, helps Mi-seon by putting his past as a former agent behind and keeping it a secret from her – until he accidentally bumps into his former agent colleague Hee-joo (Jeon Hye-jin). After the encounter, he often goes out of contact and leaves the house all messy.

FilmAug. 7, 2024

Once megastar, G-Dragon finds new avenues for influence

G-Dragon, a member of YG Entertainment's biggest boy group Big Bang who dominated the K-pop scene from 2006 to 2018, has recently been making unique moves, moves that industry insiders say show that the musician is striving to maintain his fame and reputation as a cultural icon. On Monday, G-Dragon launched a new foundation, JusPeace, to help young artists with drug addiction. In June, he appeared at the Innovate Korea forum on the Korea Advanced Institute of Science and Technology campus,

K-popAug. 7, 2024

Seoul shares rebound for 2nd day on tech gains after global rout

Seoul shares ended higher for a second straight session Wednesday, helped by tech gains, as investors' sentiment for risky assets improved following a global stock rout. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 46.26 points, or 1.8 percent, to close at 2,568.41. Trade volume was moderate at 469.69 million shares worth 12.9 trillion won ($9.4 billion), with winners exceeding losers 727 to 176. The rebound comes in line with gains

MarketAug. 7, 2024

Walz is VP America deserves, Harris says

PHILADELPHIA (AP) -- Kamala Harris introduced Minnesota Gov. Tim Walz to the nation at a raucous rally Tuesday in battleground Pennsylvania that was aimed at building momentum for the newly minted Democratic presidential ticket in the sprint toward Election Day. “He’s the kind of person who makes people feel like they belong and then inspires them to dream big. ... That’s the kind of vice president America deserves,” Harris said while standing with Walz in Philadelphia. T

World NewsAug. 7, 2024

Conflicts arise within liberal bloc over sell off of Kim Dae-jung’s residence

A recent move by one of former President Kim Dae-jung’s sons to sell his father’s residence in a bid to avoid a “hefty inheritance tax,” has sparked a conflict among the liberal bloc here in recent days, with some calling for the main opposition or the government to repurchase the property for its historic value. On Wednesday, several lawmakers of the main opposition liberal Democratic Party of Korea, which has repeatedly mentioned Kim’s “spirit of Democracy&r

PoliticsAug. 7, 2024

Senior military officers wary of conscripts’ cellphone use: ministry

South Korean military officers have voiced caution over permitting new conscripts cellphones over security concerns, according to the Ministry of National Defense on Wednesday. The ministry surveyed officers as a new policy taking effect in September is set to allow soldiers’ use of cellphones more widely. In the survey released by the Defense Ministry, one officer said letting soldiers use cellphones has led to “disruptions in training while violations continue to occur.” &ldq

DefenseAug. 7, 2024

Fifty Fifty to return with new members Sept. 20

K-pop girl group Fifty Fifty is finally making its long-awaited comeback on Sept. 20 with its second mini album. Attrakt, the K-pop agency housing Fifty Fifty, dropped Wednesday a poster with the group’s comeback schedule on social media platform X. The poster shows an event planned for Aug. 9 titled “Hello Fifty Fifty” and for Aug. 12-16 titled “We are Fifty Fifty,” hinting that these could be the dates on which the new members are announced. Fifty Fifty is returni

K-popAug. 7, 2024

Rights groups urge protections for Filipina caregivers

Migrant rights organizations on Wednesday urged South Korea's government to implement measures to protect the rights of the 100 Filipina caregivers who arrived yesterday to undergo a month of training before being assigned to families in Seoul. The Migrant Workers' Equality Coalition, a coalition of civic groups, emphasized that the lack of clarity in the caregivers' job responsibilities might lead to significant conflicts and potential exploitation, citing the ongoing ambiguities

Social AffairsAug. 7, 2024

SMEs gain ground in procurement market with PPS guide

Small and medium-sized enterprises in South Korea are making significant inroads into the nation’s public procurement market, a sector estimated to be worth a staggering 209 trillion won ($154 billion) as of last year, according to a report by the Public Procurement Service published in May. Aiding this success is the Public Procurement Guide, an initiative launched in March that is drawing attention for its innovative approach to assisting emerging businesses. According to the PPS, the

IndustryAug. 7, 2024

Public Procurement Service helps Korean businesses reach global stage

South Korea's Public Procurement Service is spearheading efforts to help local businesses break into the global procurement market, valued at an estimated $12 trillion. Of this total, Korean companies are positioned to vie for a lucrative $2 trillion portion, presenting a significant opportunity for the nation's export economy, according to PPS's estimate. Recently, the agency has been doubling down on its support for aspiring businesses. A host of comprehensive initiatives has al

IndustryAug. 7, 2024

[Herald Interview] Procurement chief aims for greater transparency, charts global path for SMEs

The Public Procurement Service, responsible for managing procurement contracts worth 209 trillion won ($152 billion) last year — a third of the South Korean government's entire spending — serves as both an allocator of domestic demand and a driver of innovation for the country’s thriving small and medium-sized enterprises. Lim Ki-keun, who was appointed as PPS administrator in December last year, has taken on this critical responsibility during a period of mounting global

IndustryAug. 7, 2024

Ruling bloc urges repeal of taxation on investors' gains

President Yoon Suk Yeol's office on Wednesday called on the National Assembly to abandon a plan to implement the "financial investment income tax" scheme that is to come into effect in January 2025 in the face of the heightened domestic capital market volatility in recent days. The political standoff is expected to linger, as the liberal main opposition Democratic Party of Korea has insisted that the plan for taxation on investors' sales proceeds must proceed as planned. Desc

PoliticsAug. 7, 2024

Seoul Cyber University recruiting students for 2nd semester

Seoul Cyber University, South Korea's first online university, is recruiting new students for the second half of the 2024 academic year in 43 majors across 11 colleges. Providing education tailored to social demands and trends by establishing and reorganizing departments and majors for the 2024 academic year, the university has created an artificial intelligence convergence college that includes majors such as AI service marketing, AI real estate big data, AI smart farm, AI creators and o

Social AffairsAug. 7, 2024

LG debuts Korea’s first open-source AI model

LG Group’s artificial intelligence think tank, LG AI Research, on Wednesday unveiled the third generation of its hyperscale AI multimodal Exaone, providing better performance and cost-efficiency than its predecessors in processing massive amounts of data. To contribute to the development of the AI ecosystem, LG AI Research said it has decided to release the lightweight model of Exaone 3.0 as Korea's first open-source AI model for various research purposes. Exaone 3.0 is the second u

TechnologyAug. 7, 2024

July sets record for most tropical nights ever

This July experienced the highest number of tropical nights for any July since weather records began in 1973, the Korea Meteorological Administration said last month. South Korea recorded an average of 8.8 tropical nights this July, a three-fold increase compared to the previous average of 2.8 days in past Julys, according to the KMA's monthly weather analysis report. Tropical nights refer to a phenomenon where the lowest temperature remains above 25 degrees Celsius between 6:01 p.m. the ni

Social AffairsAug. 7, 2024

Find your hanbok at DDP

A variety of hanbok, the traditional Korean clothing, will be up for sale at an up-to 80 percent discount during a four-day hanbok expo opening Friday at Dongdaemun Design Plaza. Over 100 shops will be offering both traditional and modern hanbok varieties, including pieces for pets and accessories to go with the garment. Everything will be sold at a 30 percent discount on average, with some discounted up to 80 percent. The annual event, launched in 2018 by the Ministry of Culture, Sports and Tou

Arts & DesignAug. 7, 2024