[Video] The puzzle of flavor

Imagine a glass of cold craft beer and place it in front of you. “Psssh.” That’s the sound of beer being extracted from the machine. “Tssst.” Next, the frothy foam on top brings oxygen to the liquor. Afterward, have a quick sip and let the fresh brew glide down. This is perhaps the high point of the day, only rivaled later when you lay down in your cozy bed, ready to fall off to sleep. It’s no secret that Koreans spend some of the longest hours in th

FoodDec. 17, 2019

Brains, grains and planes of Ukraine

The following article was contributed by the Embassy of Ukraine -- Ed.Startup has recently become a superfluous word, and is viewed as a driver of future-oriented innovative economy. But you have probably never heard about a startup country. This metaphor was used by President Volodymyr Zelenskyy to describe ambitious and vibrant economy of Ukraine, which is in many ways different from other emerging markets.In the five years since the Revolution of Dignity, notwithstanding aggressive efforts of

Diplomatic CircuitDec. 17, 2019

S. Korea will up efforts for financial innovation in 2020: FSC chief

Financial Services Commission Chairman Eun Sung-soo on Tuesday said that Korea will continue to face domestic and external uncertainties next year, pledging to add speed to the country’s drive for financial innovation.He also stood by the government’s latest and controversial real estate regulations, citing them as necessary steps to curb the country’s overheated housing market. “Domestic and external uncertainties are expected to prolong throughout next year and the low

EconomyDec. 17, 2019

Both parents can take parental leave simultaneously starting 2020

Parents will be allowed to take paid child care leave at the same time starting Feb. 28, according to a law revision approved by the Cabinet on Tuesday. A working parent whose spouse is already on paid family leave will also be able to take paid parental leave, according to the revised Act on Equal Employment and Support for Work-Family Reconciliation. A clause that bans parents from simultaneously taking parental leave for the same child has been removed in the revised law.Starting from Jan. 1,

Social AffairsDec. 17, 2019

[Herald Interview] ‘In influencer-economy era, even internet giants require 3rd-party big data’

When Korean telecom firm KT decided to open a platform leveraging its big data on consumer behavior, it searched for other models to benchmark, but found it difficult. It finally zeroed down on the Shanghai Data Exchange, founded in 2016. The two organizations have since signed a memorandum of understanding to work on cross-border collaboration to nurture a global big data platform.SDE’s Vice President Lu Yong and COO Shen Xiangyu said in an exclusive interview with The Korea Herald that t

IndustryDec. 17, 2019

KT opens Korea’s first AI-based big data platform

Telecommunications firm KT said Tuesday it has opened South Korea’s first artificial intelligence-based big data platform to be shared and used by individuals and business on demographics, real estate and consumption trends, among others.The new platform, named KT Big Data Platform, will enable 113 terabytes’ worth of big data trading between individuals and 16 institutions, the firm said. It started operations Monday. Some of its most prominent features are the AI-powered data predi

IndustryDec. 17, 2019

Chung Sye-kyun tapped for prime minister

Six-term lawmaker Rep. Chung Sye-kyun of the ruling Democratic Party of Korea was nominated for the post of prime minister on Tuesday. “The government has endeavored to reform old systems, and (establish an) innovative and inclusive economy to create a country (where) the people ‘live well together,’” President Moon Jae-in said in announcing the nomination. “To do this, the most important thing is concentrating the strengths of the people through unity and harmony,

PoliticsDec. 17, 2019

Daewoo Shipbuilding bags $160m order for 2 ships

Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder by orders, said Tuesday that it has secured a $160-million order to build two liquefied petroleum gas carriers.Under the deal, Daewoo Shipbuilding will build two very large gas carriers for Avance Gas Holding Ltd., the company said. Daewoo Shipbuilding said the two carriers, each with a capacity of 91,000 cubic meters, will be delivered to the Bermuda-based company by the first quarter of 2022. With the late

IndustryDec. 17, 2019

Playlist: 15 best K-pop Christmas songs, from Twice, EXO to LOONA and more

Christmas is just around the corner and what is the festive season without Christmas songs?That’s why we’ve put together a list of 15 Christmas-themed tracks with a little K-pop twist to usher in one of the most celebrated holidays around the world.“Merry & Happy” – TwiceOur first choice is Twice’s 2017 track from the repackaging of the group’s first studio album of the same title, “Merry & Happy.”Released Dec. 11, 2017, the midtempo

K-popDec. 17, 2019

Household income grows in 2018, wealth gap narrows

South Korea's household income rose in 2018 from a year earlier, and the income gap between the haves and have-nots narrowed, as employment situations of the low-income bracket improved amid efforts to bridge the income gap, a government report showed Tuesday. The average household earned 58.28 million won ($49,688) last year, up 2.1 percent from the previous year, according to the report by Statistics Korea.The report showed household income earned through wages rose 3.9 percent on-year to an a

EconomyDec. 17, 2019

Samsung, SK hynix hit fresh yearly highs amid rosy outlook

Shares in Samsung Electronics and SK hynix -- South Korea's two largest chipmakers -- soared to close at fresh yearly highs on Tuesday, buoyed by expectations for growing demand and a recovery in global chip prices. Samsung, the world's No. 1 memory chipmaker, spiked 3.66 percent to close at a fresh 52-week high of 56,700 won ($48.40) and SK hynix advanced 4.74 percent to end at a new yearly high of 92,800 won after rising as high as 93,800 won.The broader KOSPI, advanced 1.27 percent to close a

IndustryDec. 17, 2019

Preliminary candidate registration begins for April parliamentary elections

Preliminary candidate registration for the parliamentary elections in April began Tuesday, while a fast-track bill on electoral reform remains pending at the National Assembly amid continued partisan strife.The National Election Commission said preliminary candidacy registration is open from Tuesday through March 25 for the April 15 general elections for the 21st National Assembly.Those who register as preliminary candidates can begin certain campaign activities such as opening campaign offices,

PoliticsDec. 17, 2019

[Diplomatic circuit] There is global momentum to develop hydrogen economy: Australian top diplomat

Amid global awareness of the need to reduce reliance on fossil fuels, the Australian ambassador to Korea highlighted hydrogen as the next source of clean energy.“There is a global momentum to develop the hydrogen economy, and Korea has already positioned itself as a leader in hydrogen technology,” Australian Ambassador James Choi said.“Australia is looking to create international partnerships in this sector. We look forward to building on the strong existing cooperation between

Diplomatic CircuitDec. 17, 2019

[Diplomatic circuit] Britain eyes cooperation with Seoul on AI startups

The United Kingdom, one of the countries leading the world in artificial intelligence, is seeking to step up cooperation with industry leader South Korea for advancements in AI, officials said.“Whatever the outcome of the (UK) election, we can be confident that there will continue to be a powerful story to tell about AI in the UK,” British Ambassador to Korea Simon Smith said in his opening remarks, delivered in Korean at AI UK Conference 2019 at Seoul’s Dongdaemun Design Plaza

Diplomatic CircuitDec. 17, 2019

BTS' 'Map of the Soul' album certified gold in France

"Map of the Soul: Persona," the latest album by K-pop boy band BTS, has been certified "Gold" by the French recording industry. Breaking the news, the National Syndicate of Phonographic Publishing said in its official website and social media account on Monday that the BTS album has sold 50,000 equivalent copies. For the achievement, the album was certified "Or," the French word for Gold, the association said, adding a message, "Bravo!"The association hono

PerformanceDec. 17, 2019

LS Cable & System to list EV parts arm on Kosdaq

LS Cable & System said Tuesday it is pushing ahead with the initial public offering of its electric vehicle parts unit LS EV Korea, with the aim of achieving sales of 1 trillion won ($858 million) in 2030 in the global market.The Korean cable firm plans to file for preliminary screening of the EV unit at the nation’s tech-heavy secondary Kosdaq bourse. LS EV Korea was established in November 2017 after LS Cable & System spun off its electric vehicle parts business to nurture i

IndustryDec. 17, 2019

S. Korea aims to expand prowess in artificial intelligence

South Korea is aiming to stay ahead of rivals in the field of artificial intelligence by 2030 to bolster its economy and improve the living standards of its citizens, the science ministry said Tuesday.Under the national strategy, the country plans to leverage its prowess in memory chips to build the world's most competitive AI chip industry, with new semiconductors having 25 times the processing speed and just one-thousandth the power consumption of existing integrated circuits.Asia's fourth-lar

IndustryDec. 17, 2019

Korean firms suffer further setback in Q3 sales, profit

South Korean companies continued to suffer heavy setbacks in their sales and profits in the third quarter, central bank data showed Tuesday, apparently due to a sharp decline in exports and slowing demand at home.The average sales of local companies plunged 2.8 percent from a year earlier in the three months that ended Sept. 30, according to the data from the Bank of Korea.It compares with a 1.1-percent on-year dip in the second quarter. The BOK did not provide any specific reason for the drop,

EconomyDec. 17, 2019

[Diplomatic circuit] Italian Embassy launches first showroom in Seoul

The Italian Trade Agency under the Italian Embassy in Korea has opened its first showroom in Seoul in a bid to promote Italian brands, the embassy said.High Street Italia, located in the trendy Garosugil neighborhood in southern Seoul, is a joint project between the Italian Embassy in Korea and the Italian National Tourist Board that aims to expose aspects of Italy to a wider Korean audience. “Incredible support and interest shown today is a very clear proof that Korean customers are open

Diplomatic CircuitDec. 17, 2019

[Diplomatic circuit] First Hungarian cultural center opens in Korea

The first Hungarian cultural center in Korea opened last week, coinciding with the 30th anniversary of diplomatic relations between South Korea and Hungary. The opening ceremony of the Hungarian Cultural Institute on Dec. 12 was attended by the Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto, Deputy Minister and Ambassador for Public Diplomacy of Foreign Affairs Chang Jae-bok and Hungarian Ambassador to Korea Mozes Csoma among others. “It is our mission to provide various q

Diplomatic CircuitDec. 17, 2019