[Newsmaker] Third body retrieved 20 days after Jeju boat capsizes

Two of the 11 bodies missing after a Jeju boat capsized last month were discovered Sunday afternoon.The Jeju Regional Coast Guard on Monday confirmed the bodies had been located by a remotely operated vehicle of the Navy’s submarine rescue ship Cheonghaejin.While one body assumed to be that of a Vietnamese national was recovered Sunday, another body was lifted from the water Monday afternoon. Around 7 a.m. on Nov. 19, a 29-ton fishing boat with 12 crewmen aboard -- six South Koreans a

Social AffairsDec. 9, 2019

[News Focus] Number of Seoulites residing alone up 300,000 in 10 years

SEJONG -- The number of residents in Seoul stood at 9.73 million as of November 2019, according to the Ministry of Interior and Safety. This is estimated to be the lowest figure in more than 30 years.Given unofficial statistics showing that Seoul was home to 9.2 million in 1983 and 10.28 million in 1988, the current population level is assumed to be similar to that seen in the years between 1984 and 1987.Compared to the figure of 10.21 million in November 2009, the population of the capital of S

Social AffairsDec. 9, 2019

Defense stocks surge after N. Korea’s ‘very important test’

Shares of South Korean defense-related firms jumped Monday in the wake of North Korea’s announcement about a “very important test” at its western satellite launching site over the weekend.Shares of asphalt plants manufacturer Speco closed nearly 12.9 percent higher from the previous session, at 4,115 won ($3.46). Victek, a provider of military systems and power supply systems, extended gains for the second day and closed nearly 2 percent up at 3,275 won. Both firms are listed o

MarketDec. 9, 2019

S. Korea to tighten monitoring on outflow of investment by foreigners

Addressing the latest drop in investment by foreigners here, South Korea’s government reassured the market on Monday, saying it would enhance monitoring and put a contingency plan into action in the event of further volatility.“The recent outflow of foreign investments is mostly attributable to the expansion of external uncertainties and the adjustment of the Morgan Stanley Capital International index,” said Kim Yong-beom, first vice minister of finance.The Ministry of Economy

EconomyDec. 9, 2019

Samsung supplies super-size smart LED signage for MSC Grandiosa

Samsung Electronics announced Monday that the company had supplied super-large smart LED signage and interactive touchscreens for MSC Cruises’ flagship Grandiosa, based in Geneva, Switzerland. A 93-meter-long curved LED display is installed on the ceiling of the global cruise liner’s indoor promenade, its central social hub, providing visual arts at all times at a resolution of 1,700 nits. The display also showcases visual performances three times a day.The Grandiosa is the world&rsq

TechnologyDec. 9, 2019

SKT, Statistics Korea unveil foot traffic map

SK Telecom and Statistics Korea said Monday they have started the pilot service of a foot traffic map using the telecom company’s mobile big data technology. The map measures foot traffic across the country by using big data collected from SKT’s mobile network stations. It shows the inflow and outflow of people in a particular area, and data can be rearranged according to weekdays, weekends or months. The mobile big data technology is expected to help save costs and labor needed for

TechnologyDec. 9, 2019

Hyundai Motor Group donates W25b for charity

Hyundai Motor Group said Monday it has donated 25 billion won ($21 million) to the country’s nonprofit charity organization Community Chest of Korea to contribute in helping vulnerable members of the society and alleviate social polarization. The donation ceremony was attended by Hyundai Motor Group President Kong Young-woon, along with Chairman Ye Jong-suk and Secretary-General Kim Yeon-soon of the Community Chest of Korea.Since 2003, the automaker has been delivering year-end donati

IndustryDec. 9, 2019

Agency warns of legal action after TWICE member injured by crowd of fans

The management agency of girl band TWICE has warned of legal action against aggressive fans after a band member was injured by a crowd of fans."Today, there was an accident involving our artist, who fell over and got injured due to disorderly and excessive photo taking (by fans) at Gimpo International Airport," TWICE's management agency, JYP Entertainment, said in a post on the band's official SNS accounts on Sunday.  A crowd of fans gathered at Gimpo International Airport earlier

PerformanceDec. 9, 2019

41-year-olds have highest average labor income

Workers in South Korea hit the highest average annual earnings at the age of 41 in 2016, data showed Monday, with the labor income of the elderly also showing a steady rise. People aged 41 earned the highest average annual labor income of 32.09 million won ($26,977) in 2016, according to the data released by Statistics Korea. The total labor income stood at 842.1 trillion won in 2016, up 4.5 percent from a year ago.  The labor income for people aged above 65 rose 0.8 percent on-year to 21.7

EconomyDec. 9, 2019

Koreans consider W3.9b in assets as threshold to be wealthy

South Koreans consider a person who owns an average of 3.9 billion won ($3.2 million) in assets is wealthy, a local survey showed Monday.According to a recruiting service provider Saramin’s survey on 4,111 adults, respondents in their 30s said a person can be considered rich when he or she owns assets of 3.98 billion won, while those in 40s said 3.9 billion won. Those aged 50 and above said a rich person owns 3.3 billion won. Some 3.9 billion won of assets equal the amount accumu

IndustryDec. 9, 2019

Starbucks Korea receives presidential award for supporting cultural heritage

Starbucks Coffee Korea said Thursday it has received a presidential award for its effort to contribute to restoring the country’s cultural assets and honoring it heritage and history. The award ceremony which took place at Korea Cultural Heritage Foundation on Friday was attended by some 100 awardees.  The local unit of Starbucks Coffee joined hands with the Cultural Heritage Administration in 2009 and has conducted various activities to protect cultural assets and support descen

IndustryDec. 9, 2019

[Diplomatic circuit] [Meet the diplomat] Egypt is eager for transfer of technology, economic growth: Egyptian envoy

After years of sweeping change in all corners of society, Egypt has embarked on a journey to rebuild the nation, opening doors to foreign entities to capitalize on state-of-the-art technology and reclaim its glory days as an economic hub.As part of efforts to do so, Egypt is wooing South Korean businesses and leading science and tech institutions, the top Egyptian diplomat said.“Quite frankly, my humble opinion is that we have such a huge amount of untapped potential in relationship betwee

Diplomatic CircuitDec. 9, 2019

[Diplomatic circuit] UAE celebrates 48th National Day with positive outlook on bilateral ties

The UAE Embassy in Seoul celebrated the 48th National Day and noted that bilateral cooperation between the both countries has increased considerably in the last decade from a strategic partnership in 2009 to a special strategic partnership last year, a top Emirati diplomat in Seoul said.“With regard to the bilateral relations with the friendly Republic of Korea, the ties witnessed significant progress over the past decade. … As a result, the existing fields of cooperation have expan

Diplomatic CircuitDec. 9, 2019

[Diplomatic circuit] EU envoy urges Seoul to pass revision on personal information

South Korea’s parliament should promptly pass an amendment on personal information protection to comply with EU regulations, European Union’s top diplomat in Seoul urged last week. The revised Personal Information Protection Act is one of three bills on big data regulations pending at the National Assembly.In May 2018, the EU implemented the General Data Protection Regulation stipulating stricter oversight to protection personal information of EU residents, fining companies that fail

Diplomatic CircuitDec. 9, 2019

[Diplomatic circuit] Kuwait Investment authority, Citibank host forum for Korean firms

Kuwait’s state-run Kuwait Direct Investment Promotion Authority and Citibank Korea jointly held the Korea-Kuwait Investment Forum last week to offer information for companies seeking to foray into the Middle East country.“Potential and current Korean companies there received critical information about the Kuwaiti market, regulations and laws, new business opportunities and successful case studies,” an official said. The forum was a part of KDIPA’s international roadshow a

Diplomatic CircuitDec. 9, 2019

[Feature] Frank penguin becomes new star of year, breaks stereotype of EBS characters

A 210-centimeter-tall penguin walks into a room for an audition at Educational Broadcasting System, insisting he wants to be a star creator. The penguin, who has a strand of seaweed and a seashell on its head, explains that he swam all the way from the South Pole. The 10-year-old’s ultimate goal is to become as popular as BTS.Speaking in a cute -- sometimes husky -- voice, Pengsoo raps, breakdances and even yodels -- a skill he picked up in Switzerland on his way to Korea. When the judges

PeopleDec. 9, 2019

Finland picks youngest-ever prime minister

HELSINKI (AFP) -- Finland's Social Democrats elected a 34-year-old former transport minister to the post of prime minister on Sunday, making her the youngest head of government in the country's history.Sanna Marin narrowly won Sunday's vote to replace outgoing leader Antti Rinne, who resigned on Tuesday after losing the confidence of the coalition partner Centre Party over his handling of a postal strike."We have a lot of work to do to rebuild trust," Marin told reporters on Sunday nig

World NewsDec. 9, 2019

LG International's JV listed on Omani stock market

LG International Corp. said Monday that its joint venture with Oman Oil Co. has been listed on the Omani stock market, a move that helped the South Korean developer of natural resources recover part of its investment in the JV.Musandam Power Co. debuted on the Muscat Securities Market on Thursday. LG International said it retains an 18 percent stake in Musandam Power after selling a 12 percent stake worth $6.9 million. In addition, LG International said it earned revenue through operation of the

IndustryDec. 9, 2019

'Parasite' named best film by LA film critics

South Korean auteur Bong Joon-ho's family satire "Parasite" has been awarded three prizes, including Best Film, by the film critics association in Los Angeles, the association said Monday.The LA Film Critics Association said it chose "Parasite," the winner of this year's Cannes' Palme d'Or, as the best film of the year, with Martin Scorsese's crime film "Irishman" coming in next.Moreover, Best Director was given to the film's director Bong Joon-ho, while actor Song

FilmDec. 9, 2019

Hong Kongers mark half a year of protest with mammoth rally

HONG KONG (AFP) -- Democracy protesters took part in the largest mass rally through Hong Kong's streets in months on Sunday in a forceful display of support for the movement, with a leading activist warning the city's pro-Beijing leaders they had a "last chance" to end the political crisis.Organisers estimated some 800,000 people snaked for hours through the financial hub's main island as the protests marked six months, a vivid illustration of the hostility that still seethes towards t

World NewsDec. 9, 2019