Labor leader gets suspended sentence for organizing violent protests

The leader of the Korean Confederation of Trade Unions, a militant labor umbrella group, was given a suspended sentence Thursday for masterminding assaults on police during outdoor rallies.The Seoul Southern District Court sentenced Kim Myeong-hwan to 2 years and six months in prison, suspended for four years, and ordered him to complete 160 hours of community service.Kim was accused of overseeing violent illegal acts during KCTU members’ four protest rallies in front of the National Assem

Social AffairsJan. 23, 2020

Duty-free shares suffer decline amid new coronavirus fear

Shares in South Korean duty-free operators took a hit amid concerns that the outbreak of the Wuhan coronavirus may hurt the companies’ revenues from Chinese visitors, data showed Thursday. Hotel Shilla closed at 97,000 won ($83) on Thursday, down 10.6 percent from Friday’s closing price of 108,500 won.   Shinsegae fell 4.37 percent over the cited period to finish at 306,500 won. Lotte Shopping also tumbled 4.76 percent to close at 130,000 won.On Monday, South Korea reported

MarketJan. 23, 2020

SK Chairman Chey Tae-won advocates social value measurement model in Davos

SK Group Chairman Chey Tae-won promoted the need to upgrade measurements of social value creation during his speech at the World Economic Forum that is underway in Davos, Switzerland, the firm said Thursday.“It is not an option but an obligation to change the goals and systems of corporate management from the interests of shareholders to those of stakeholders,” he said in a panel session held under the theme of “Stakeholder Capitalism in the Asian Century” at the Davos Co

IndustryJan. 23, 2020

[Sarita Nayyar] The case for consumption equality

Discussions about economic development often focus on how to increase income equality. More recently, however, thoughtful observers have begun to regard consumption equality -- the equal use of goods and services -- as a more robust indicator of parity in human wellbeing. After all, it more accurately captures inequality as people experience it when they consume, and consumption can be affected by borrowing and saving, as well as by social safety-net programs.But consumption equality is a double

ViewpointsJan. 23, 2020

Joys and perils of Seollal

Millions of South Koreans will flock across the country today to reunite with family members for one of the two biggest national holidays -- Seollal. The Lunar New Year, which this year falls Saturday, is characterized by traditional food, celebrations and customs and a chance to start over again with one’s resolutions. But for many, the time of celebrations and togetherness is increasingly becoming a source of woes. According to a poll released Jan. 18 by job-hunting platform Saramin, abo

Social AffairsJan. 23, 2020

FSS expands consumer protection in reshuffle

The Financial Supervisory Service on Thursday unveiled its reshuffle blueprint, focusing on consumer protection and innovative finance.The move came amid the ongoing controversy regarding the so-called derivatives-linked fund fiasco -- the improper sales of products by local banks and securities. The FSS is slated to announce its sanction decision for two major banking chiefs later this month.“To respond to the stronger consumer protection needs and enhance the supervisory functions over

MarketJan. 23, 2020

Kakao’s prospects for brokerage biz brighten

South Korea’s mobile payment platform Kakao Pay has got preliminary approval to enter the securities business, according to the financial regulator Thursday.The Securities and Futures Commission, under the Financial Services Commission, has given its temporary approval to Kakao Pay to become the majority shareholder of local brokerage Baro Investment & Securities. A final decision will be made at the commission’s next meeting, slated for Feb. 5.Having got the nod to acquire a loc

MarketJan. 23, 2020

Former PM announces bid to run in Seoul's Jongno in upcoming elections

Former Prime Minister Lee Nak-yon on Thursday accepted the Democratic Party's offer to run in Jongno, a key constituency in central Seoul, in the upcoming general elections.Lee, a former journalist and four-term lawmaker, recently resumed his political career with the liberal party following a six-year hiatus. He was elected as a provincial governor in 2014 and became the first prime minister under the Moon Jae-in administration in May 2017.DP leader Lee Hae-chan recently proposed that the forme

PoliticsJan. 23, 2020

IZ*ONE to resume music career next month

K-pop girl band IZ*ONE will return to the music scene next month, resuming its high-profile music career that was put on hold amid a vote-rigging scandal involving the band's native audition show last year. "Mnet and the management agencies of IZ*ONE members decided to resume their activities in respect of the members and their fans who wish for a career resumption," Mnet said in a statement. The music channel said the girl band will return to the music scene next month, saying the exa

PerformanceJan. 23, 2020

[Herald Interview] After first meeting as fans, this couple got married to BTS music

Tweets about BTS are easy to come by, but now a story about a same-sex ARMY couple who got married this month has gone viral.“From meeting on Twitter because of @BTS_twt to meeting in real life at the BTS concert to getting married yesterday to BTS’ instrumentals, it has been one hell of a journey,” the couple tweeted on Jan 6, which has received over 25,000 likes since.“Thank u BTS for bringing us together,” they wrote.Amber Rodriguez, 25, originally from Charlesto

K-popJan. 23, 2020

Who’s to be condemned in the elections?

Rival parties intensified their political offensives Thursday while greeting voters at major railway stations ahead of the Lunar New Year holidays. Ruling Democratic Party of Korea Chairman Lee Hae-chan and Floor Leader Lee In-young visited Yongsan Station in Seoul to hand out promotional brochures to citizens heading back to their hometowns for the holidays. Joining them was former Prime Minister Lee Nak-yon, who accepted the party chief’s proposal to take the position of co-head of the p

PoliticsJan. 23, 2020

[Box Office] Movies in theaters this week

The Man Standing Next(Korea)Opened Jan. 22Drama, HistoryDirected by Woo Min-hoIn the 1970s, South Korea is under the authoritarian rule of President Park Chung-hee (Lee Sung-min) who relies on the Korean Central Intelligence Agency to tighten his grip on the country. The director of KCIA, Kim Gyu-pyeong (Lee Byung-hun), is seemingly the most likely second-in-command. As anti-government demonstrations threaten to shake the regime, tensions escalate in the inner sanctum of power.Spies in Disguise(

FilmJan. 23, 2020

[Around the Hotels] Promotions and Packages

Swellfish season at Millennium Hilton SeoulGenji, Millennium Hilton Seoul’s Japanese restaurant, offers promotion menu featuring swellfish (also called fugu), a seasonal delicacy highly revered in Japanese cuisine. Guests can enjoy a special curated set menu that features swellfish prepared in a variety of ways, including swellfish sashimi, tempura, swellfish cooked in a hotpot, and more. The set course is priced at 170,000 won per person, and is available for lunch and dinner. A-la-carte

FoodJan. 23, 2020

[Travel Bits] Festivals and sights across Korea

Inje Icefish FestivalInje Icefish Festival, officially launched in 1997, offers a true winter experience with icefish fishing.The festival takes place at Bingeoho Lake in Gangwon Province. Admission is free but additional fees may apply depending on the program. For more information in Korean, English, Japanese or Chinese, call the travel hotline at 1330. The homepage (www.injefestival.co.kr) is in Korean only. Herb Island Lighting Festival The Herb Island Lighting Festival creates a romant

TravelJan. 23, 2020

Seoul stocks trim earlier losses amid new coronavirus fear

Seoul stocks trimmed earlier losses late Thursday morning amid rising concerns over the spread of Wuhan coronavirus.The benchmark Korea Composite Stock Price Index had fallen 11.24 points, or 0.50 percent, to 2,256.01 as of 11:15 a.m.Foreign and institutional investors sold a combined 246.7 billion won ($211.4 million) worth of stocks, weighing down the bourse.Daishin Securities analyst Lee Kyung-min said investors went for profit-taking ahead of the holiday after the index jumped to its highest

MarketJan. 23, 2020

S. Korean unit in Hormuz Strait ready for any circumstances: defense ministry

The South Korean military unit dispatched to the Strait of Hormuz maintains a full readiness posture to deal with any situations in accordance with its operation guidelines, the defense ministry said Thursday.The 300-strong Cheonghae Unit, with a 4,400-ton destroyer, expanded its operational areas from its original sphere of the Gulf of Aden into the Strait of Hormuz this week to protect South Korean citizens and vessels passing through the strategically important waterway amid tensions between

DefenseJan. 23, 2020

Resurrection of ssireum, traditional Korean wrestling

Korea Ssireum Association is holding a tournament during the Lunar New Year holidays in Hongseong, South Chungcheong Province from Wednesday to Monday, with the organizers expecting more spectators than usual on the back of the recent resurgence in popularity of Korean traditional wrestling. 　“We have been holding a ssireum tournament during the Lunar New Year holidays every year in different cities of Korea. Last year the stadium in Jeongeup was nearly full and we are expecting more this

CultureJan. 23, 2020

YG denies rumors of G-Dragon’s concert in China

K-pop powerhouse YG Entertainment on Wednesday warned fans about fake tickets for K-pop band Big Bang’s leader G-Dragon’s rumored concert in China.In an official statement, YG said it has spotted fake news about G-Dragon’s supposed concert in China on several online websites, including WeChat, a widely used social media platform in China. While G-Dragon will not perform in a concert in China, the company said that some people have received preorders for the tickets.“All i

PerformanceJan. 23, 2020

BOK floats 6tr won worth of fresh bills ahead of Lunar New Year's Day

The Bank of Korea said Thursday it has issued over 6 trillion won ($5.15 billion) worth of fresh banknotes ahead of the Lunar New Year holiday that starts on Friday.The move apparently comes in preparation for high demand for fresh bills due to the long-lived tradition of elders offering cash gifts to younger ones after receiving deep bows as the first greeting in a new year.For the past 10 days, the South Korean central bank supplied about 6.09 trillion won worth of fresh banknotes to banks and

EconomyJan. 23, 2020