Sales of private equity funds fall after fiasco: report

Sales of private equity funds for individual investors dropped for the fifth consecutive month in November, amid growing distrust in the aftermath of damages incurred by risky derivatives-linked funds sold by banks and asset management firms, a local self-regulatory organization said Wednesday. According to the Korea Financial Investment Association, local banks sold a combined 24.1 trillion won ($20.9 billion) of private equity funds, down by 600 billion won, or 2.4 percent, in November from th

MarketJan. 1, 2020

S. Korea confirms 56th case of African swine fever

South Korea on Wednesday confirmed the country's 56th case of the African swine fever after a wild boar found dead near the border with North Korea tested positive for the deadly virus.The wild boar carcass was found in Paju, bringing the number of such cases to 20 in the western border town alone, according to the National Institute of Environmental Research.South Korea has mobilized hundreds of soldiers and civilians to hunt down wild boars near the border in recent months to try to contain th

Social AffairsJan. 1, 2020

[Monitor] Housing prices show steepest rise in Dec.

Apartment prices in Seoul showed the steepest rise in December since the government’s real estate policy announced on Sep.13, 2018, which led to rising prices in other cities nationwide. According to data by Korea Appraisal Board, apartment prices in Seoul soared 1.24 percent in December compared to the previous month. It marked the biggest on-month growth in 15 months since September 2018. Across the country, apartment prices rose 0.51 percent, showing the highest growth in four years.(kh

IndustryJan. 1, 2020

Koreans take new year’s celebrations to outdoors despite chilly temperatures

The cold spell did not deter Koreans from welcoming the new year outdoors.Mountains around the country drew early morning hikers seeking to catch a glimpse of the rising sun.Making New Year’s wishes, resolutions while watching the sunrise is a Korean tradition.Retiree Lee Young-gi, 72, said he has spent the first dawn of the year at the nearby mountains of Cheonggye and Gwanak for the last 10 years.“This year, I watched the sunrise from Gwanaksan, had a cup of coffee and came back ho

Social AffairsJan. 1, 2020

Retailers launch mouse-inspired goods to celebrate ‘Year of White Mouse’

With 2020 marking the “Year of the White Mouse,” retailers rolled out mouse-inspired products, luring consumers with limited edition goods and special marketing in celebration of the new year. Based on the Chinese zodiac, the white mouse is the first of the 12 animals and considered the leader of the mice, symbolizing wealth, fortune and prosperity. Due to ambiguity in the Chinese characters, 2020 may also be referred to as the Year of the Metal Rat. According to Starbucks Korea, it

ConsumerJan. 1, 2020

[News Focus] 5 ministries enjoy ‘Seoul-area stay’ thanks to law

SEJONG -- Sejong is expanding most quickly among the eight major cities and nine provinces in South Korea. The city is absorbing households from Seoul, Gyeonggi Province, Daejeon and the South and North Chungcheong provinces.The special self-governing city -- which was founded on July 1, 2012 northwest of Daejeon -- saw its population reach 338,647 as of November 2019, compared to 148,151 five years earlier in November 2014.The construction of apartments, government complexes and government agen

PoliticsJan. 1, 2020

Biz leaders call for more deregulation, aggressive investments in 2020

Amid forecasts of lower economic growth and harsher business conditions in 2020, South Korea’s business community is pushing to ease government regulations to stimulate aggressive investments and entrepreneurship, according to industry sources Wednesday.Heads of the country’s business lobby groups noted abandoning old regulations to seek new changes in 2020.The Federation of Korean Industries chief Huh Chang-soo said in his New Year’s address that future-oriented regulations ar

IndustryJan. 1, 2020

Hyundai Motor unveils images of first Genesis SUV GV80

Hyundai Motor’s luxury brand Genesis unveiled its first sport utility vehicle on Wednesday, raising market expectations for the much-anticipated model set to debut in mid-January. The GV80, a three-row SUV, is the fourth model of the brand, which consists of the G70, G80 and G90 sedans.  The “V” in its name represents the “versatile” aspect of the luxury SUV, while the number 80 indicates its large size, Hyundai Motor said. Under the design concept of

MobilityJan. 1, 2020

Credit card use at restaurants declines for first time in 7 years

South Korea’s credit card spending in restaurants fell 0.3 percent on-year in September 2018, marking the first on-year decline in nearly seven years, data from the Bank of Korea showed Wednesday.The decline reflects a deterioration in consumer sentiment which plunged to a two-year low in August, a month before the latest drop observed in credit card spending. According to the nation’s central bank, the combined credit card spending for eating out here came to nearly 4.7 trillio

EconomyJan. 1, 2020

US spy planes monitor N. Korea on New Year's Day

US spy planes flew over and around the Korean Peninsula on New Year's Day on Wednesday, an aviation tracker said, as North Korean leader Kim Jong-un said the communist nation will soon show off a "new strategic weapon."An RC-135W Rivet Joint of the US Air Force took off from Japan's Kadena Air Base at 8:25 a.m. (Korean time) for an East Sea mission, while an EP-3E of the US Navy also flew over South Korea at 25,000 feet, according to Aircraft Spots. The flights came after the North's l

DefenseJan. 1, 2020

Samsung QLED 8K TV earns US certification

Samsung Electronics Co. said Wednesday its quantum dot liquefied emitting diode 8K TVs have obtained a certification for its high-definition quality in the United States.Samsung Electronics has received the 8K certification for most of its QLED 8K TVs built for the year of 2020 from the US-based 8K Association, the company said in a statement.  The 8K Association is a cross-industry group focused on facilitating the growth of the 8K ecosystem.  QLED 8K TV delivers 16 times the resoluti

IndustryJan. 1, 2020

S. Korea to invest W5.19tr into science, ICT R&D in 2020

South Korea said Wednesday that it will invest 5.19 trillion won ($4.49 billion) into various science and information and communication technology research projects in 2020.The annual research and development spending plan covers 4.15 trillion won earmarked for science and technology and 1.04 trillion won set aside to build up ICT capabilities, according to the Ministry of Science and ICT.Of the total, slightly more than 1.53 trillion won will be used on basic scientific research. That amount is

IndustryJan. 1, 2020

Trump voices confidence in NK leader despite new threat

WASHINGTON -- US President Donald Trump said Tuesday he believes Kim Jong-un will uphold his commitment to denuclearize after the North Korean leader threatened to show off a "new strategic weapon."Hours earlier, North Korean media reported that Kim saw no reason to continue his self-declared moratorium on nuclear and intercontinental ballistic missile tests, and warned that the world will soon see a "new strategic weapon."His remarks suggested that Pyongyang could soon test

North KoreaJan. 1, 2020

Court rejects arrest warrant request for Ulsan vice mayor over election-meddling allegations

A court rejected an arrest warrant request for an Ulsan vice mayor suspected of illegally intervening in the 2018 mayoral election in his city late Tuesday.At about seven minutes to midnight, the Seoul Central District Court said it turned down prosecution's request from last Friday to detain Song Byung-gi, Ulsan's vice mayor for economic affairs, on charges of conspiring with several presidential aides to influence the city's mayoral poll last year in violation of the Public Official Election A

PoliticsJan. 1, 2020

[팟캐스트] (333) 김정은 노동당 전원회의 / 스타워즈: 라이즈 오브 스카이워커 리뷰

진행자: 윤민식, Kevin Lee Selzer1. All eyes on Pyongyang as Kim opens key party meeting아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2팟빵 (안드로이드): http://www.podbbang.com/ch/6638가시요약: 김정은 조선노동당 전원회의 진행에 따라 이목이 집중되고 있다.[1] Kim has been urging Trump to roll out a new initiative after the Hanoi summit broke down in Feb.* roll out: (새로운 것을) 발표하다, 출시하다* 계획 * break down: 결렬되다, 실패하다[2] North Korean leader Kim Jong-un chaired the first part of a key ruling party meet

PodcastJan. 1, 2020

Pompeo says he hopes N. Korea chooses peace over war

WASHINGTON -- US Secretary of State Mike Pompeo said Tuesday he hopes North Korea will choose peace over war after the regime threatened to reveal a "new strategic weapon."Pompeo made the comment to Fox News shortly after North Korean leader Kim Jong-un delivered the threat amid stalled denuclearization talks with Washington."It remains the case that we hope that Chairman Kim will take a different course," the top US diplomat said when asked for his assessment of the warning.

North KoreaJan. 1, 2020

White House cites NK summits among Trump's top achievements

WASHINGTON -- The White House on Tuesday cited Donald Trump's meetings with North Korean leader Kim Jong-un as among the US president's top achievements in office.In a press release reflecting Trump's first three years in office, the White House also noted that sanctions on North Korea have not been eased while the two countries have negotiated the dismantling of Pyongyang's nuclear weapons program.The statement came shortly before Kim announced a hard-line stance toward Washington over the stal

North KoreaJan. 1, 2020

Korea's exports dip 10.3% in 2019 on weak chip sales, trade rows

South Korea's exports fell 10.3 percent in 2019 after setting a record high performance the year before, due mainly to a slump in the global chip market coupled with the trade feud between the world's top two economies, data showed Wednesday. The country's outbound shipments came to $542.4 billion last year, compared with $604.8 billion posted a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.  Imports moved down 6 percent on-year to $503.2 billion

IndustryJan. 1, 2020

NK leader says no reason to keep moratorium on ICBM tests, warns of 'new strategic weapon'

North Korean leader Kim Jong-un said he sees no reason to stick to his commitment to suspend nuclear and long-range missile tests and will soon show off a "new strategic weapon," accusing the United States of stalling for time for its own political interests, according to state media Wednesday.Still, however, Kim appeared to have left room for negotiations as he also said during a meeting of the Central Committee of the ruling Workers' Party that how much the North will bolster its &qu

North KoreaJan. 1, 2020

Moon vows results from reform drive in new year

President Moon Jae-in assured the people here Tuesday that his reform measures will bear fruit in the coming year.In a brief social media message posted on New Year's Eve, he thanked them for efforts to promote social justice on the basis of "warm love of neighbors." He said he would make 2020 a year to "repay" them, citing the "buds of change" that opened amid difficulties."(I) will make it flower and bear fruit with clear achievement," Moon said, adding

PoliticsDec. 31, 2019