S. Korea aims to boost agricultural exports by 6.7% in 2020

South Korea said Monday it seeks to expand its outbound shipments of agricultural goods by 6.7 percent to hit $7.5 billion in 2020 by diversifying its product portfolio and penetrating deeper into emerging markets including Southeast Asia.In 2019, exports of agricultural goods reached $7 billion, compared to $6.9 billion posted a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. Last year, South Korea's overall exports slipped 10.3 percent amid growing protectionism

EconomyJan. 20, 2020

ICT exports sink 20% in 2019 on trade row, chip slump

South Korea's exports of information and communications technology products nosedived nearly 20 percent on-year in 2019, data showed Monday, due mainly to a lengthy trade row between the United States and China and a drop in chip prices.Outbound ICT shipments totaled $176.9 billion last year, falling sharply from $220.4 billion in 2018, according to the Ministry of Trade, Industry and Energy. The decrease was also caused by a base effect, as the country posted record-high exports in 2018.ICT exp

EconomyJan. 20, 2020

Washington Post criticizes Pompeo-Esper column on defense cost-sharing with S. Korea

The Washington Post has criticized last week's joint column by the US secretaries of state and defense about defense cost-sharing talks with South Korea as "conversations that typically happen behind closed doors."In Sunday's article that rebuked US President Donald Trump's "strong-arm" foreign policy tactics, the US daily took issue with the rare commentary that Secretaries Mike Pompeo and Mark Esper published in The Wall Street Journal on Thursday to call for Seoul to pay m

Foreign AffairsJan. 20, 2020

Moon to hold 1st weekly meeting with new prime minister

President Moon Jae-in will have his first weekly consultation with Prime Minister Chung Sye-kyun on Monday, Cheong Wa Dae officials said, as the president is seeking to give him more authority over state affairs.Moon used to have a luncheon meeting with Chung's predecessor Lee Nak-yon at the presidential compound on Mondays for discussions on major policies."President Moon will continue such a meeting with Prime Minister Chung," a Cheong Wa Dae official said. "This will be their f

PoliticsJan. 20, 2020

S. Korea considering imposing 20% tax on cryptocurrencies

South Korea's finance ministry has been considering imposing a 20 percent tax on income from cryptocurrency transactions, officials said Monday. The Ministry of Economy and Finance has recently ordered its office of income tax to review a taxation plan for cryptocurrencies, according to officials. Previously, the ministry's office of property tax had reviewed the plan. The move raised speculation that the government may categorize gains from cryptocurrency trading as other income, not capital ga

EconomyJan. 20, 2020

Heavy snow hampers search for missing S. Korean, Nepal trekkers

KATHMANDU (AFP) -- Avalanches, heavy snow and poor visibility hampered the search Sunday for four South Koreans and three Nepalis caught in an avalanche in the popular Annapurna region of the Himalayas, officials saidRelatives of the missing Koreans have arrived in Kathmandu alongside several officials sent by Seoul to help with the emergency rescue efforts, Ang Dorjee Sherpa of the Korean Alpine Federation told AFP.The missing group was near the Annapurna base camp around 3,230 metres (10,600 f

Foreign AffairsJan. 20, 2020

N. Korea holds state funeral for former anti-Japanese fighter

North Korea has held a state funeral for a former female anti-Japanese fighter considered close to late founding leader Kim Il-sung, according to Pyongyang's state media on Monday. The memorial service for Hwang Sun-hui, deputy to the North's rubber-stamp parliament and curator of the Korean Revolution Museum, was held in Pyongyang on Sunday, according to the Korean Central News Agency.Hwang, called by state media a "veteran fighter of the first generation of the Korean revolution," di

North KoreaJan. 20, 2020

Korean economy grows 1.89% in 2019, shy of estimate: poll

The South Korean economy is expected to have fallen far short of its growth target last year, marking the slowest growth in a decade, a poll showed Monday.In a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, seven local experts polled estimated Asia's fourth-largest economy to have expanded 1.89 percent from a year earlier in 2019.The Bank of Korea earlier predicted a 2 percent on-year expansion in Asia's fourth-largest economy, which would have still marked the

EconomyJan. 20, 2020

S. Korea to focus on promoting economic cooperation with Russia, Mongolia

South Korea will focus on promoting economic cooperation this year with Russia, Mongolia and other countries located north of the Korean Peninsula in line with the diplomatic initiative of its New Northern Policy, Finance Minister Hong Nam-ki said Monday. Hong made the remarks at a meeting with economy-related ministers earlier in the day. South Korea "will bolster economic cooperation with northern countries to pull off accomplishments from the New Northern Policy," Hong told the meet

EconomyJan. 20, 2020

More than 100 killed in Yemen missile, drone attack

DUBAI (AFP) -- More than 100 people were killed and dozens wounded in a missile and drone attack blamed on Huthi rebels in central Yemen, officials said Sunday.Saturday's strike follows months of relative calm in the war between the Iran-backed Huthis and Yemen's internationally recognised government, which is supported by a Saudi-led military coalition. The Huthis attacked a mosque in a military camp in the central province of Marib -- about 170 kilometres (105 miles) east of the capital Sanaa

World NewsJan. 20, 2020

Britain's Prince Harry expresses 'great sadness' at royal split

LONDON (AFP) -- Britain's Prince Harry expressed "great sadness" on Sunday at the way he and his wife Meghan had to give up their royal titles as part of a separation settlement with the Queen."It brings me great sadness that it has come to this," Harry said in his first remarks on Saturday's historic agreement, made during a public address and posted on the couple's Instagram account."Our hope was to continue serving the Queen, the commonwealth, and my military associat

World NewsJan. 20, 2020

S. Korean Park In-bee loses LPGA season opener in playoff

South Korea's Park In-bee has lost the LPGA season opener in a three-way playoff, falling just shy of ending her two-year winless drought.The LPGA Hall of Famer was eliminated in the third playoff hole at the Diamond Resorts Tournament of Champions in Lake Buena Vista, Florida, on Sunday (local time), after pulling her tee shot into the water.Gaby Lopez of Mexico and Nasa Hataoka of Japan were still tied after five playoff holes, when play was suspended due to darkness.The two will be back at it

GolfJan. 20, 2020

SARS-like virus spreads in China, nearly 140 new cases

BEIJING (AFP) -- A mysterious SARS-like virus has spread around China -- including to Beijing -- authorities said Monday, fuelling fears of a major outbreak as millions begin travelling for the Lunar New Year in humanity's biggest migration.The new coronavirus strain, first discovered in the central city of Wuhan, has caused alarm because of its connection to Severe Acute Respiratory Syndrome, which killed nearly 650 people across mainland China and Hong Kong in 2002-2003.Wuhan has 11 million in

World NewsJan. 20, 2020

N. Korea holds agricultural conference to discuss increasing food production

North Korea held an agricultural conference to discuss ways to increase food production, state media said Monday, amid Pyongyang's intensifying "self-reliance" efforts in various areas in the face of crippling global sanctions. During the three-day conference until Sunday, participants reviewed "their work with main emphasis on positively exchanging and sharing the high-yield experience of the agricultural front on which the best achievements were made even under the worst conditi

North KoreaJan. 20, 2020

S. Korea defeat Jordan to move closer to Olympic men's football berth

South Korea got past Jordan 2-1 on Sunday to move within one victory of qualifying for the 2020 Olympic men's football tournament.Midfielder Lee Dong-gyeong scored a gorgeous free kick to break a 1-1 tie in the dying seconds, giving South Korea a narrow win in the quarterfinals of the Asian Football Confederation (AFC) U-23 Championship at Thammasat Stadium in Rangsit, Thailand. This AFC event is also the qualifying competition for the 2020 Tokyo Olympics, with the top three nations here advanci

SoccerJan. 19, 2020

'Parasite' wins top prize from American Cinema Editors

Bong Joon-ho's sensation "Parasite" won the top prize for best edited feature film at the 70th annual ACE Eddie Awards, US media have reported.It marked the first time that a foreign language film has won the top prize in ACE Eddie Awards history. Parasite editor Yang Jin-mo said in an acceptance speech, "First of all, this all feels like a dream. I can't believe this is happening," according to Deadline Hollywood, an entertainment industry news site."It's such a huge ho

FilmJan. 19, 2020

[Graphic News] Exports of processed rice goods up 20% in 2019

　South Korea’s outbound shipments of processed rice products shot up last year, amid the booming popularity of Korean dramas, K-pop and other cultural content abroad, data showed.　Exports of these products reached $106 million in 2019, marking a sharp rise from $89 million posted a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. The exports also nearly doubled from $55 million posted in 2015.　These products cover a wide range of food items, such as snacks, n

IndustryJan. 19, 2020

S. Korea breaks six-year winning streak on Bloomberg Innovation Index

South Korea ranked No. 2 on the Bloomberg Innovation Index this year, putting an abrupt halt to its six-year winning streak, government data showed Sunday.According to the Ministry of Economy and Finance, Korea scored 88.16 points this year, slipping a notch from last year, but has remained in the top three for nine consecutive years. Germany took the crown this year with a score of 88.21 points, switching places with Korea. Singapore was next, rebounding to No. 3. The annual Bloomberg Inno

EconomyJan. 19, 2020

[Joseph E. Stiglitz] The truth about the Trump economy

As the world’s business elites trek to Davos for their annual gathering, people should be asking a simple question: Have they overcome their infatuation with US President Donald Trump?Two years ago, a few rare corporate leaders were concerned about climate change, or upset at Trump’s misogyny and bigotry. Most, however, were celebrating the president’s tax cuts for billionaires and corporations and looking forward to his efforts to deregulate the economy. That would allow busin

ViewpointsJan. 19, 2020