Biegun wraps up trip to S. Korea with his call for NK dialogue unanswered

US Special Representative for North Korea Stephen Biegun on Tuesday wrapped up his three-day visit to Seoul and departed for Japan, with his emphatic call for dialogue with North Korea unanswered. His high-profile trip focused on efforts to bring Pyongyang back to the negotiating table, as it has been pressuring Washington to make concessions by the end of the year, with hints that it could engage in provocative acts such as a long-range rocket launch.Appearing at Gimpo International Airport in

Foreign AffairsDec. 17, 2019

[Herald Interview] ‘Multiculturalism is inevitable in Korea’s future’

Over 2 million residents now live in Korea, according to government data. This is more than double the figure in 2007 when the number hit 1 million for the first time.“Multiculturalism is inevitable in Korea’s future,” Kim Do-gyun, president of the Korea Immigration Service Foundation, told The Korea Herald on Tuesday, a day before International Migrants Day.When the foundation was established in 2004, its chief aim was to provide administrative assistance to the immigration of

Social AffairsDec. 17, 2019

BOK minutes hint at possible policy rate reduction next year

Some members of the central bank's rate-setting board see the need for additional steps to boost the country's economic growth and consumer price hikes down the road, minutes from the board's latest meeting showed Tuesday, indicating a possible rate cut in the near future.According to the minutes from the latest meeting of the Bank of Korea monetary policy board, at least three members of the seven-member board expressed concerns over the country's slowing growth and low consumer price growth.Th

MarketDec. 17, 2019

[Photo News] Partnering for a better world

Togo’s Deputy Minister Victor G. Yawotse Vovor shakes hands with the founder of the International Youth Fellowship, Park Ock-soo (right), during an event for a joint agreement, in Lomo on Saturday. The two sides agreed to implement the “2018-2020 National Development Plan” to foster the country’s fundamentals, technology and youths. Established in 2001, the IYF seeks to provide education programs for the younger generation in developing countries like Africa. (IYF)

CultureDec. 17, 2019

[Feature] ‘Donated funds won’t resolve forced labor dispute’

South Korea’s National Assembly Speaker Moon Hee-sang is planning to introduce bills he contends will work to restore strained relations between Seoul and Tokyo over local court rulings that ordered Japanese companies to compensate Koreans forced to work for them during World War II Korea’s two Supreme Court rulings a year ago plunged Seoul-Tokyo ties to a fresh low as Japan responded with outrage, saying the 1965 agreement -- which normalized bilateral relations following

Foreign AffairsDec. 17, 2019

[Kim Seong-kon] ‘A Lone Lighthouse Keeper’ of Korea

Recently I came across a book of memoirs by Kim Yong-chol, professor emeritus of Sungkyunkwan University. The book, “A Lone Lighthouse Keeper: Memoirs of Kim Yong-chol,” is the author’s reminiscence of the particularly turbulent period of modern Korean history that he has lived through. Indeed, Kim’s life is an embodiment of modern South Korea itself, and his autobiography is an important social document vividly depicting nearly all the major events that occurred in the 2

ViewpointsDec. 17, 2019

[Robert J. Fouser] Looking back at the 2010s in South Korea

In a couple of weeks, we will enter the third decade of the 21st century. For South Korea, the 2010s saw continued progress amid anxiety over the future. The decade began with solid, though not spectacular, economic growth as the world recovered from the 2007-08 financial crisis, although the crisis affected South Korea less than most other developed nations. South Koreans gained confidence from weathering an economic storm better than most. Toward the end of the decade, the aging of the po

ViewpointsDec. 17, 2019

North Korea may develop ICBM carrying multiple warheads: experts

Signs of the resumption of activity at some military test sites in North Korea have been observed, less than two weeks before the year-end deadline the regime set for denuclearization negotiations with the United States. Amid speculation that the North may carry out a military provocation, experts say its actions may involve tests for the development of submarine-launched ballistic missiles and intercontinental ballistic missiles capable of carrying multiple warheads.According to a report releas

North KoreaDec. 17, 2019

[Newsmaker] Police investigating ‘illegal’ rally by conservatives

The police said Tuesday that they have opened a probe into possible law violations and violence during a rally the previous day by conservative activists in front of the National Assembly building.Some 500 people belonging to right-wing organizations and supporting the main opposition Liberty Korea Party held a rally in protest against a set of reform bills. Following the rally, the protesters remained there for nearly nine hours, tried to break into the National Assembly building and some of th

Social AffairsDec. 17, 2019

S-Oil lauds promising scientists, pledges research funds

South Korean oil refiner S-Oil said Tuesday that it has awarded 20 doctorate researchers and science professors and contributed funds to six young rising scientists. S-Oil Science and Culture Foundation, a public trust established by the oil refiner, wholly owned by Saudi Aramco in 2011, said it held a ceremony to award outstanding science thesis and young rising scientists. A total of 10 doctorate researchers and 10 science professors in the field of mathematics, physics, chemistry, l

IndustryDec. 17, 2019

Amorepacific partners with US vegan cosmetics firm Milk Makeup

South Korea’s Amorepacific Group and US vegan cosmetics company Milk Makeup are partnering in the areas of marketing and business operations, the Korean firm said Tuesday.Milk Makeup, established in New York in 2015 as a cruelty-free and 100 percent vegan cosmetics firm, is popular for its “clean beauty” concept. Its products are sold in major markets via personal care and beauty chain Sephora and online retailer Cult Beauty. Market sources estimated that Milk Makeup will

IndustryDec. 17, 2019

Prospects dim for US-N. Korea nuclear talks: ministry

Prospects are dim for denuclearization talks between the US and North Korea next year, with the possibility of the communist regime escalating military tension, the South Korean government said Tuesday. “If there is no progress in North Korea-US negotiations by the year-end deadline, the possibility of North Korea’s leader declaring the suspension of the talks in his New Year’s address cannot be ruled out,” the Unification Ministry said in a press release on its evaluatio

North KoreaDec. 17, 2019

[Monitor] Home transactions rise over W900m

The ratio of home transactions worth over 900 million won ($7,700) in South Korea topped 4.4 percent in 2019. It is the first time the proportion has crossed the 4 percent mark, and is the highest level since 2006, according to data by property market information provider Zigbang on Wednesday.The data includes individual houses, multiplexes, townhouses and apartments. Residences priced over 900 million won and 1.4 billion won marked 2.7 percent, while those over 1.4 billion won came to 1.7 perce

EconomyDec. 17, 2019

Analysts, public say surge in housing prices likely despite new policy measures

Housing prices are widely expected to soar despite the stringent regulations enforced by the South Korean government, according to market analysts Tuesday.The government in a surprise move recently unveiled new measures to curb rising home prices, which push for tighter mortgage rules.A report released by local brokerage Mirae Asset Daewoo warned local investors that if the new measures fail to rein in soaring housing prices, even stronger measures are likely to be adopted next year. It recommen

EconomyDec. 17, 2019

Hyundai Card, Korean Air launch private label credit card

Hyundai Card, a subsidiary of Hyundai Motor Group, has jointly launched an exclusive credit card with flag carrier Korean Air, officials said Tuesday.“Korean Air and Hyundai Card have launched a private label credit card (PLCC) and signed a partnership agreement. Hyundai Card will be in charge of marketing and operations,” the credit card firm said.PLCC refers to a credit card branded for a specific retailer, independent dealer or manufacturer. While partnership cards involve the com

MarketDec. 17, 2019

[Contribution] Short-termism works... in the short term

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed.We believe the three- to six-month outlook for global equities, credit and other income-generating assets looks favorable. This is based on our view that global growth prospects are stabilizing after a period of downgrades, event risks are declining and the US Federal Reserve has injected significant dollar liquidity into the global financial

MarketDec. 17, 2019

Samsung execs sentenced to jail in union-busting case

Samsung execs sentenced to jail in union-busting caseA Seoul court handed down jail terms to key Samsung executives on Tuesday and detained them for sabotaging labor union activities at the top conglomerate's customer service unit.The Seoul Central District Court sentenced Lee Sang-hoon, Samsung Electronics Co.'s chairman of board, to 18 months in prison for breaching labor union-related laws when he served as chief financial officer. "While Lee claims there were many areas he did not know

IndustryDec. 17, 2019

[Herald Review] Remembering singer Whitney Houston with ‘Bodyguard’

The name Whitney Houston takes many straight back to the 1980s and ’90s. The US singer took the world by storm soon after her 1985 debut. Her first two studio albums, “Whitney Houston” and “Whitney” topped the Billboard charts for weeks. Enjoying a huge success in the music scene, the singer took a leap to the big screen, making her acting debut on the film “The Bodyguard” in 1992. She recorded six new songs, including the iconic track “I’ll

PerformanceDec. 17, 2019

BTS' 'Map of the Soul' tops S. Korean album chart for 2019

Continuing its winning streak from a year earlier, boy band BTS topped the South Korean album sales chart for this year, chart results showed Tuesday.BTS' latest album, "Map of the Soul: Persona," sold more than 3.69 million copies since its release in April, topping the album sales category of the Gaon Music Chart compiled by the Korea Music Content Association. The album chart covers the period from Jan. 1 to Dec. 7.It marks overriding chart dominance by BTS following the band's No.

PerformanceDec. 17, 2019