[Borge Brende] Cooperation in unsettled world

The world is at a turning point, with power shifting and dispersing in ways that signal the emergence of a new multipolar era. In the resulting turbulent global environment, opportunities to compete or cooperate are increasing across several domains. In areas such as the economy, technology and the environment, the question is whether parties will seek progress toward common objectives or strategic advantages over competitors. For much of the post-Cold-War era, issues like trade, scientific res

ViewpointsJan. 27, 2020

[Jonathan Bernstein] Unspoken charge that should doom Trump: lawlessness

For three days, the House managers serving as prosecutors in the Senate impeachment trial of President Donald Trump set out the details of his effort to strong-arm Ukraine into aiding his 2020 reelection, and then argued that those details constitute reason to remove him from office. They made a strong case. Using the power of the presidency to push a foreign power to smear a political opponent is an abuse of that power, a “high crime and misdemeanor” in the constitutional phrase set

ViewpointsJan. 27, 2020

[Newsmaker] Reshuffle of prosecutors draws backlash

The Justice Ministry’s latest decision to replace prosecutors involved in investigating President Moon Jae-in’s associates has drawn strong criticism from all opposition parties. Following the first round of shakeup on Jan. 8 that ousted Prosecutor General Yoon Seok-youl’s closest aides from the Supreme Prosecutors’ Office, the ministry last Thursday reassigned senior prosecutors who led the probes into former Justice Minister Cho Kuk and people in the presidential offi

Social AffairsJan. 27, 2020

Market watchers downplay long-term impact of coronavirus in Korea

Although concerns over the possible impact of the deadly coronavirus on the financial market are rising here, analysts say that the “noise” caused by the contagious virus originating from China will be short-lived and eventually overshadowed by company fundamentals that remain strong, coupled with the easing trade conflict between China and the United States. “The spread of coronavirus will not likely cause an unprecedented pandemonium but merely an uncanny noise to investors,

MarketJan. 27, 2020

[Monitor] South Korea‘s trade deficits with Japan

Japan was the trade partner with which South Korea posted the largest deficit in 2019, keeping the top spot for the fifth year in a row, according to data by Korea International Trade Association released Sunday. Last year, the trade deficit with Japan stood at $19.16 billion, recording the biggest among other trade partners. However, the figure was a significant improvement from a $28.31 billion deficit in 2017. It also marked the smallest deficit in 16 years due to the decreased trade volum

IndustryJan. 27, 2020

BTS becomes first K-pop act to perform at Grammys

K-pop super band BTS has performed at the Grammys, becoming the first South Korean act to do so, in the latest in a series of milestones the band has accomplished in Korean music history. The septet teamed up with rapper Lil Nas X to take the stage at the 62nd Annual Grammy Awards ceremony held Sunday at the Staples Center in Los Angeles. The band's rappers -- RM, J-Hope and Suga -- joined the American rapper to perform his record hit "Old Town Road" with lines from the remix "

K-popJan. 27, 2020

Future that Beethoven dreamed of

In celebration of the 250th anniversary of maestro Beethoven’s birth, a contemporary music recital will be held at Kumho Art Hall on Thursday, featuring up-and-coming composer-conductor Choi Jae-hyuck and his chamber music ensemble. Since 2017 -- the 190th anniversary of Beethoven’s death -- the art hall, under the Kumho Asiana Cultural Foundation, has featured a series of 25 programs in homage to the maestro, ranging from piano and violin solo performances to chamber music recital

PerformanceJan. 27, 2020

[News Focus] Number of nonregular workers up 900,000 during Moon’s term

SEJONG – State employment data showed that job creation under the Moon administration two years has been entirely in nonregular positions. The number of regular jobs -- positions with permanent contracts and consequently greater protections for workers -- has fallen over the period. The figures suggest the number of regular workers stayed at a similar level during the first year of President Moon Jae-in’s term -- 13.42 million as of August 2017 and 13.43 million as of August 2018.

EconomyJan. 27, 2020

Written, monochrome work highlights 2020 gallery calendar

From modern text and monochrome work to Joseon-era calligraphies, many galleries are keeping things simple in the coming year. Elsewhere, there is a planned exhibition to mark the 70th anniversary of the Korean War and the Seoul Mediacity Biennale marks its 20th outing. Here are some exhibitions worth visiting this year. Yun Hyong-keun’s solo exhibition at PKM Gallery In March, PKM Gallery in Samcheong-dong, Seoul, will put on a solo exhibition of 20th century monochrome artist Yu

Arts & DesignJan. 27, 2020

US, Japanese investors biggest players in S. Korean stock, bond markets: FSS

The number of foreign investors in South Korea’s stock and bond markets exceeded 480,058 last year, up 1,358 from a year earlier, according to the nation’s financial regulator Financial Supervisory Service on Monday. Of the total figure, individuals made up 11,657, while institutional investors made up 36,401, including 23,064 private funds, 2,305 pension funds, 997 stock brokerage firms, 738 banks and 512 insurance firms. By nationality, the US and Japan were the two largest pl

MarketJan. 27, 2020

Mobile payment accelerates demise of coins, banking branches

Last year, the number of newly minted coins hit the lowest value on record and the number of banking branches continued to drop, according to data on Monday. The Bank of Korea, the nation’s central bank, said newly issued coins last year amounted to some 36.4 billion won ($30.9 million) in value, the lowest since comparable data started being compiled in 1992 and down 14.3 percent from a year earlier.  The figure is even lower than the 39.6 billion won worth of newly made coins i

MarketJan. 27, 2020

Twice’s Chaeyoung hits out at infamous stalker

Twice’s Chaeyoung lashed out at a stalker on Sunday after her personal phone number was released on social media. The K-pop group’s agency, JYP Entertainment, released an official statement Sunday, saying it would immediately sue the person who first disclosed Chaeyoung’s private number online. A few hours later, Chaeyoung took to Instagram to deliver a direct message to the stalker. “We’re at our limits to stay quiet and wait for you to stop,” began the

K-popJan. 27, 2020

Investors flock to real estate funds, seeking stable, high returns

Investors have been increasingly turning to real estate funds, looking for low-risk, high-return investments, according to data on sunday. Total investments in real estate funds stood at 99.39 trillion won ($84.90 billion) -- 96.19 trillion won for private equity funds and 3.21 trillion won for public funds -- as of Jan. 21, according to data released by the Korea Financial Investment Association, a nonprofit self-regulatory organization. The figure has been on a steady uptrend over the year

MarketJan. 27, 2020

Korean firms evacuate staff, suspend biz trips after Wuhan coronavirus outbreak

The outbreak of a deadly coronavirus in the Chinese city of Wuhan has cast a pall over Korean companies operating offices there, with some firms evacuating staff and suspending business trips, according to industry sources Monday.  Currently, some 600 South Koreans reside in Wuhan, Hubei province, which also hosts local offices of Posco, SK Global Chemical, Hyundai Wia and LG Hausys. As of Monday afternoon, the official count of confirmed cases across China stood at 2,744. SK Global Che

IndustryJan. 27, 2020

[News Focus] Boon or bane: How will real estate curbs play at the ballot box?

The Moon Jae-in administration’s continued efforts to curb skyrocketing housing prices were mostly attempts to divert the market’s liquidity towards innovative industries, to reduce the widening wealth gap, and to cut back on the nation’s snowballing household debts. But in light of the approaching parliamentary elections, slated for April this year, skepticism has been mounting that the government’s heavy-handed push may be populist gestures to divide political camps an

EconomyJan. 27, 2020

Satellite images show activity at NK missile site

Satellite imagery has shown vehicle activity at a North Korean missile site on the outskirts of Pyongyang, which could signal the imminent launch of missiles or missile engine tests, CNN said Sunday, citing US defense officials familiar with the latest assessment. Vehicles have been spotted at the missile research center in recent days, but they are not believed to be fueling missiles. The US officials were uncertain whether the North was preparing to launch short or medium-range missiles or en

North KoreaJan. 27, 2020

S. Korea ups coronavirus alert, 4th case confirmed

　 President Moon Jae-in on Monday ordered an all-out check on every individual who has recently traveled here from Wuhan, China, as Korea confirmed its fourth case of the Wuhan coronavirus amid growing public fears over the viral illness that has already caused 80 confirmed deaths in China. 　 The government raised the level of the four-tier infectious disease alert to the second most severe rung, after a 55-year-old Korean man, who had visited Wuhan, Hubei province, tested positive for the coro

Social AffairsJan. 27, 2020

1,047 NK defectors arrive in S. Korea last year, lowest in 18 years

A total of 1,047 North Korean defectors arrived in South Korea last year, the lowest number in 18 years, according to data from the unification ministry on Monday. The total includes 202 males and 845 females. By quarter, 229 arrived in the first three months of the year, 320 in the second quarter, 226 in the third and the remaining 272 in the fourth, according to the data. The number of defectors arriving in the South rose after 2000 before peaking in 2009 at 2,914 people. Since current lead

North KoreaJan. 27, 2020

Samsung slips to No. 3 spot in Indian smartphone market: Counterpoint

South Korean electronics giant Samsung Electronics Co. had the third-largest market share in India's smartphone market in the fourth quarter last year, slipping down a notch as Chinese products expanded their presence, data showed Monday. Samsung accounted for 19 percent of the Indian smartphone market in the October-December period, down 1 percentage point from a year earlier, according to the data compiled by industry tracker Counterpoint Research. The South Korean tech giant, which used to

IndustryJan. 27, 2020

30-somethings biggest buyers of foreign cars

South Koreans in their 30s made up the biggest customer group for foreign cars here last year, according to industry data on Monday.  Data from the Korea Automobile Importers & Distributors Association showed that in 2019, a total of 153,677 units of foreign cars were bought by individuals.  Of the number, 50,645 vehicles, or 33 percent, were purchased by those in their 30s, followed by those in their 40s (31 percent), 50s (19.6 percent), 60s (8 percent), 20s (5.8 percent) and 7

MobilityJan. 27, 2020