[Newsmaker] Transgender sergeant forcibly discharged from military

A Korean transgender sergeant was forcibly discharged Wednesday from the military after undergoing sex reassignment surgery while enlisted, despite her wish to continue service as a female officer.  What the solider has done “falls into reasons deemed unfit” for military service in accordance with related laws, the Army said Wednesday in a statement after a committee convened to decide on the sergeant’s discharge, among other items on its agenda, earlier in the day. 　Staff

Social AffairsJan. 22, 2020

KRX aims to revitalize stock market, add to foreign investors’ convenience

The Korea Exchange said Wednesday it will make efforts to revitalize the sluggish stock market with more convenience for domestic and foreign investors.“To attract more long-term investors to the market and contribute to the nation’s economy, we will also offer new and diverse global investment products to raise the dynamics of the stock market,” said Lim Jae-joon, president of the Kospi Market Committee, at a press conference.Lim also pledged to invigorate its KIND regulatory

MarketJan. 22, 2020

Clouds and rain forecast nationwide during Seollal

Cloudy weather, with a chance of rain or snow, is forecast for the coming Seollal holidays from Friday to Tuesday. Throughout the holiday, temperatures in Seoul will be mild, with highs reaching about 7 degrees Celsius on average, the Korea Meteorological Agency said Wednesday. Starting Monday, rain is expected nationwide, with Gangwon Province likely to see either rain or snow. Southern regions and Jeju Island will also see up to 80 millimeters of rain until next Tuesday. Throughout Monday a

Social AffairsJan. 22, 2020

Eased rules to heighten pension fund engagement

A revision of local financial laws is opening the doors for a higher level of shareholder engagement, empowering the role of pension funds in South Korea, including the world’s third-largest National Pension Service. In forthcoming shareholder meetings slated for March, the NPS is likely to hold sway over those listed on what is equivalent to a “focus list” by the California Public Employees’ Retirement System, out of more than 300 portfolio companies trading on the domes

MarketJan. 22, 2020

[Monitor] ICT exports falls 20% on-year in 2019

South Korea’s exports of information and communication technology products fell nearly 20 percent on-year in 2019, according to data by the Ministry of Trade, Industry and Energy. It is due mainly to a prolonged trade row between the United States and China, a drop in chip prices and a base effect as the country posted record-high exports in 2018.The nation’s outbound ICT shipments totaled $176.9 billion last year, down from $220.4 billion in 2018. It still recorded a trade surplus o

IndustryJan. 22, 2020

Samsung, Posco record W1tr operating profit for 2 decades

 Samsung Electronics and Posco are the only South Korean companies to record an operating profit of 1 trillion won ($858 million) for more than 20 years, latest data showed Wednesday. A new study by the Sustainable Growth Institute surveyed changes in operating profit of Korean companies between 1998 and 2018. The number of companies with an operating profit exceeding 1 trillion won stood at 18 in 2018, up from four in 1998, the survey found. The growth, however, has halted since 2010 when

IndustryJan. 22, 2020

‘Time to Hunt’ starring SAG-winner Choi Woo-sik to screen at Berlin fest

Korean thriller “Time to Hunt” has been included in the Berlin International Film Festival’s screening lineup for this year, according to an announcement Tuesday. Marking its 70th anniversary this year, the event is considered one of the top three film festivals in the world, along with the Cannes Film Festival and the Venice Film Festival. The movie is the first Korean work to be shown in the Berlinale’s special gala section, which spotlights films of current topics and

FilmJan. 22, 2020

Cardiac arrest most common during Seollal, Chuseok holidays: Study

South Koreans experienced cardiac arrests out of hospital more frequently on national holidays than any other day of the year, according to a study. The May 2019 study published in the Korean Circulation Journal showed the two biggest holidays of Seollal and Chuseok -- Lunar New Year and Korean thanksgiving -- were associated with higher rates of incidence of out-of-hospital cardiac arrests and in-hospital mortality.The study surveyed 95,066 events of out-of-hospital cardiac arrest for patients

TechnologyJan. 22, 2020

Proposed new merged conservative party has 25% approval rating

One in four South Koreans said they would support a new party created after the merger of the main opposition Liberty Korea Party and the minor New Conservative Party, receiving a lower rating than the ruling Democratic Party, a poll showed Wednesday. Commissioned by online news outlet OhmyNews, Realmeter conducted a survey of 1,002 people adults nationwide between Monday and Tuesday. In the survey, the approval rating for the new integrated conservative party came to 25.1 percent. Under th

PoliticsJan. 22, 2020

Hyundai Motor sales surpass W100tr for first time in 2019

Hyundai Motor Group said Wednesday that its sales last year hit a record high of 105 trillion won ($90 billion), surpassing the 100 trillion won mark for the first time, and its operating profit grew more than 52 percent.The conglomerate is the third to join the so-called “100 trillion won club,” after Samsung Electronics in 2008 and SK in 2018. Hyundai Motor’s sales exceeded 90 trillion won in 2015. According to Hyundai Motor’s 2019 financial statements, its an

MobilityJan. 22, 2020

Rescuers resume search for 4 Korean climbers, 3 Nepal guides

KATHMANDU (AP) -- Rescuers took advantage of improved weather on Nepal's Mount Annapurna to press ahead with a search for four South Korean climbers and three Nepali guides and have a possible location for them, officials said Wednesday. Nine soldiers and seven civilian rescuers were digging through ice and snow on the Annapurna trekking trail and had made progress in determining their possible whereabouts, said army spokesman Bigyan Dev Pandey. Snow and bad weather on Tuesday stalled the rescue

Foreign AffairsJan. 22, 2020

Shinhan chief gets suspended sentence over influence-peddling charges

Shinhan Financial Group Chairman Cho Yong-byoung on Wednesday received a suspended sentence for influence-peddling in connection with a recruiting scandal at the flagship banking unit, yet his leadership remains unscathed. The Seoul Eastern District Court handed the 63-year-old executive a six-month prison term, suspended for two years. Expressing disappointment, Cho said he would appeal the case to a higher court.The court found Cho guilty of some of the accusations against him, including influ

MarketJan. 22, 2020

Daewoong to export gastric acid blocker to Mexico

Daewoong Pharmaceutical said Wednesday it has signed a deal worth $50 million to supply Mexico’s Moksha8 with gastric acid blocker fexuprazan. Given the local authorities’ approval, Moksha8 aims to launch fexuprazan in the second half of 2022. The expansion of Daewoong’s fexuprazan to overseas markets is in direct competition with CJ HealthCare’s tegoprazan-based K-CAB. Both fexuprazan and tegoprazan are potassium-competitive acid blockers, an advanced treatment compared

IndustryJan. 22, 2020

Netmarble to launch A3: Still Alive in March

A3: Still Alive’s launch in Korea in March will be developer Netmarble’s latest attempt at challenging the game market, CEO Kwon Young-sig said at a press event Wednesday.Since becoming the majority stakeholder of home appliance subscription firm Woongjin Coway in December, Netmarble has been receiving investor feedback that it must show better performance on its core business area of games. “A3: Still Alive is Netmarble’s fresh try at the game market. It is a completely

IndustryJan. 22, 2020

Billie Eilish to perform in Seoul in August

Chart-topping teenage pop icon Billie Eilish has announced the dates for her “Where Do We Go?” world tour in Asia.The Asian leg of her world tour will kick off in Seoul on Aug. 23, according to a poster posted on the singer’s social media account Monday. The singer will perform in six other cities -- Shanghai, Taipei, Hong Kong, Tokyo, Manila, and Jakarta -- between August and September.The American singer will embark on her tour in early March, starting with shows in North Ame

PerformanceJan. 22, 2020

LKP vows push for constitutional revision through election victory

The head of South Korea's main opposition party said Wednesday it will seek a new constitutional system to check the "regal" power of the country's president, claiming its harmful consequences are prevalent under the Moon Jae-in administration.To that end, it is important for the conservative bloc to score an overwhelming victory in the April 15 general elections, Hwang Kyo-ahn, leader of the Liberty Korea Party, stressed in his New Year's press conference."A general election vict

PoliticsJan. 22, 2020

NK media confirm appointment of new defense minister

North Korean state media confirmed Wednesday the appointment of a military official who directed the construction of key tourism facilities as the country’s new defense minister.Kim Jong-gwan, vice minister of the People’s Armed Forces, was assumed to have replaced No Kwang-chol as the minister, as he was named an alternate member of the Workers’ Party politburo during a party meeting at the end of last month.The North’s Korean Central News Agency had disclosed a photo of

North KoreaJan. 22, 2020

S. Korea's exports of ginseng set new record in 2019

South Korea's exports of ginseng reached a new fresh high in 2019 on the back of increased shipments to China and Vietnam, data showed Wednesday.Outbound shipments of ginseng products advanced 12.4 percent on-year to reach US$211 million in 2019, according to the data compiled by the Korea Agro-Fisheries & Food Trade Corporation.It was the first time that they had risen above the $200 million threshold.Exports of processed ginseng products, including drinks, led the growth by advancing 22 pe

IndustryJan. 22, 2020

Korean meat brand taps Pakistan market

Korean food service enterprise Didim said Wednesday its Korean barbecue brand Mapo Galmaegi signed a franchise contract with a Pakistani company to start business there. Didim said it signed the contract with M Anwar Bro, a Pakistani importer that exclusively supplies Korean and Japanese automobile parts to the market there on Tuesday.  M Anwar Bro also owns construction- and computer-related subsidiaries. Recently, the Pakistani company sought to expand its businesses into food, and contac

ConsumerJan. 22, 2020

Blue Bottle Coffee to open 5th store in Gwanghwamun

California-based coffee chain Blue Bottle Coffee will open its fifth store in South Korea near Gwanghwamun Square in central Seoul, according to industry on Wednesday. After making a hit in opening its first store in Seongsu, Seoul in May 2019, the coffee chain has since increased its outlets in three other spots in Seoul -- Samcheong, Apgujeong and Yeoksam.  Blue Bottle Coffee reportedly will open its fifth shop in on the first floor of Cheonggye Hankook Building, located in Jongno, next t

ConsumerJan. 22, 2020