[ASEAN-Korea summit] Jim Rogers foresees bright, exciting future for S. Korea

Renowned American businessman and financial commentator Jim Rogers, chairman of Rogers Holdings, said Monday that the Korean Peninsula will become very appealing in the next couple of decades, while the ASEAN region will also emerge as a hot market for investments. He was speaking at a business forum of the ASEAN-ROK CEO Summit under the theme of “Collaboration and Tasks toward ASEAN-ROK Co-prosperity.” “The opening up (and unification) of the Korean Peninsula will combine Nort

IndustryNov. 25, 2019

[ASEAN-Korea summit] Fashion event embraces ASEAN diversity

BUSAN -- Celebrating the ASEAN-ROK Commemorative Summit, a fashion show introducing the latest fashion trends of ASEAN member states was held Monday. The Busan Metropolitan Government organized the ROK-ASEAN Fashion Week from Friday to Monday, holding events ranging from fashion shows to networking sessions. The highlight of the four-day event was Monday’s ASEAN Fashion Show, during which designers from ASEAN countries presented their creations on the runway. Featured designers includ

Arts & DesignNov. 25, 2019

[ASEAN-Korea summit] S. Korea to seeks more cultural exchange with ASEAN

President Moon Jae-in on Monday vowed to push for the mutual prosperity of Korea and ASEAN member states through cultural exchange, stressing the importance of cultural content in an event held on the sidelines of the ASEAN-ROK Commemorative Summit in Busan.Speaking at the ASEAN-ROK Culture Innovation Summit at Bexco, Moon praised the power of the Association of Southeast Asian Nations bloc’s cultural content, and its potential to extend further into the world. He also pointed out how Hall

CultureNov. 25, 2019

GS E&C develops big data-based smart home system

South Korea’s GS Engineering and Construction said Monday that it has built a big data and artificial intelligence-based smart home system that could bolster security and add convenience for local apartment residents. The Xi AI platform, co-developed with its real estate development subsidiary Xi S&D, is programmed to offer customized living conditions for its users based on its analysis of relevant data. It has the ability to provide clean air by measuring the level of fine dust, cont

TechnologyNov. 25, 2019

LIG Nex1 builds education infrastructure, honors Korean War veterans in Philippines

South Korean aerospace manufacturer and defense company LIG Nex1’s employees visited the Philippines on Nov. 18 to take part in an educational campaign and honor Filipino soldiers who fought in the 1950-53 Korean War. In collaboration with South Korean nonprofit organization World Human Bridge, the firm participated in a campaign that involved building a children’s library in Davao City on the southern Philippine island of Mindanao.  The campaign aims to improve the educational

IndustryNov. 25, 2019

S. Korea to hold annual meeting with Fitch this week

Fitch Ratings executives are due to meet top officials from various ministries, central bank and the US Embassy this week, the Finance Ministry said Monday.The annual credit valuation consultation will be led by James McCormack, Fitch’s global head of sovereign and supranational ratings. The delegation will be in South Korea from Tuesday to Thursday for meetings with officials from the Ministry of Economy and Finance; Ministry of Trade, Industry and Energy; Ministry of Unification; Bank of

EconomyNov. 25, 2019

[ASEAN-Korea Summit] Korea, ASEAN to partner on smart cities at ministerial level

BUSAN -- South Korea and the 10 member states of ASEAN agreed to form a consultative body at the ministerial level for sustainable cooperation in the smart city sector at a meeting on the sidelines of the ASEAN-ROK Commemorative Summit, officials said Monday. The ASEAN-ROK Ministerial Meeting on Smart City took place Monday, hosted by the Ministry of Land, Infrastructure, and Transport and the Presidential Committee on New Southern Policy. It was attended by ASEAN Secretary-General Dato Lim Jock

IndustryNov. 25, 2019

S-Oil recognizes ‘Hero Citizens’

Korean oil refiner S-Oil on Monday held the 2019 Hero Citizens Award ceremony at its headquarters in Seoul.The oil refinery recognized 23 people who put themselves at risk to save others in peril, and awarded them a total of 140 million won ($119,000), the company said.  “The courage of unsung heroes can be a source of inspiration to many people,” said CEO Hussain Al-Qahtani. “S-Oil will continue to serve as a reliable custodian of unsung heroes, so that their deeds can ea

IndustryNov. 25, 2019

McDonald’s Korea to adopt sanitation grading system

McDonald’s Korea said Monday that it will introduce a sanitation grading system for all its restaurants by 2020, following recent controversy over food hygiene.The US fast food chain said that it has decided to manage store operations with strengthened standards and introduce a restaurant sanitation grading system, in addition to random inspections at its stores conducted by outside specialist organizations. Late last month, a local media outlet released photos of undercooked patties

IndustryNov. 25, 2019

Hollys Coffee tops overall consumer satisfaction survey

South Korean consumers found local coffeehouse chain Hollys Coffee to offer the highest level of customer service, the best products and the most favorable impression, an industry survey showed Monday.According to the survey conducted by the Korea Consumer Agency on 1,031 consumers who had visited the country’s six major coffee chains -- Starbucks, Angel-in-us, Ediya Coffee, Coffee Bean, Twosome Place and Hollys Coffee -- Hollys Coffee received the highest score for overall satisfaction wi

IndustryNov. 25, 2019

[ASEAN-Korea summit] K-beauty connects Korea, ASEAN

BUSAN -- Reflecting the popularity of K-beauty trend and high demand for K-beauty products around the world, K-beauty Festival is being held at BEXCO during the ASEAN-ROK Commemorative Summit.K-beauty has been an influential trend across the world, propelled by the high popularity of K-pop and Korean dramas. Korean cosmetics companies have been exporting a wide range of skincare and makeup products. Total exports reached $6.89 billion last year, according to the Korea Cosmetic Association. The f

Arts & DesignNov. 25, 2019

[INTERVIEW] Ryan Jhun believes embracing new sound bodes well for K-pop’s future

Over the past few years, the K-pop scene has seen a flood of foreign producers and songwriters landing credits on notable hits. Fans are already familiar with names like Teddy Riley, LDN Nosie and Divine Music, who are often credited on songs from big acts like EXO, Girls’ Generation and SHINee. K-pop powerhouses like S.M. Entertainment have also been extending their global reach to push their musical boundaries. And at the forefront of the crossover movement is Ryan Jhun, a K-pop mas

K-popNov. 25, 2019

[ASEAN-Korea summit] Smart City Fair shows glimpse of connected, sustainable future

BUSAN -- South Korea and ASEAN showcased the future of smart and sustainable living at the Smart City Fair being held on the sidelines of the ASEAN-ROK Commemorative Summit in Busan.Organized by the Ministry of Land, Infrastructure and Transport and Busan Metropolitan City, the three-day fair kicked off Monday, showcasing smart cities, which encompasses smart homes, water, recycling, security, health care and mobility.“(A) smart city is a new platform that contains future technologies and

Social AffairsNov. 25, 2019

Air New Zealand begins services to S. Korea

Air New Zealand on Monday began flight services to South Korea to absorb growing travel demand from Asia's fourth-biggest economy.On Nov. 23 (local time), Air New Zealand flight NZ75 departed Auckland International Airport for Seoul's Incheon International Airport for the first time in more than two decades, according to the airline. Travel demand from South Korea to New Zealand has been growing significantly in recent years. Seoul, with a population of over 10 million residents, will be a popul

IndustryNov. 25, 2019

[Newsmaker] 3 of 14 crew dead, 1 missing, after boat capsizes off Jeju

Three South Korean men have died after being rescued from a capsized boat near Jeju Island.The 24-ton fishing boat with 14 people aboard overturned 87 kilometers southwest of Marado, an island 8 kilometers off the southern coast of Jeju, on Monday morning. Thirteen of the 14 crew members -- eight Koreans and six Indonesians -- have been rescued and transferred to nearby hospitals, but three were pronounced dead, including the boat’s 61-year-old captain surnamed Hwang. A search was underwa

Social AffairsNov. 25, 2019

Banks' loan delinquency rate inches down in September

The delinquency rate for South Korean banks' won-denominated loans edged down in September due to a slight decline in the number of firms that failed to repay their debts, government data showed Monday. The rate for bank loans more than 30-days overdue stood at 0.44 percent at the end of September, down 0.06 percentage point from a month earlier, according to the data from the Financial Supervisory Service. Compared with a year ago, the rate was also down 0.1 percentage point, it said.The delinq

MarketNov. 25, 2019

[ASEAN-Korea Summit] Korea, Thailand seek closer ties in broader range of areas

President Moon Jae-in and Thai Prime Minister Prayut Chan-o-cha held a summit Monday, seeking closer cooperation between the two countries. At the meeting, held on the sidelines of the ASEAN-ROK Commemorative Summit in Busan, Moon stressed the importance of South Korean-Thai relations and thanked the Thai prime minister for his support in advancing Korea’s relations with the Association of Southeast Asian Nations. “Thailand is the most important partner in our government’s New

Foreign AffairsNov. 25, 2019

Bloomberg formally announces US presidential candidacy

NEW YORK (AFP) -- Billionaire Michael Bloomberg formally entered the race to be US president Sunday, pledging to "rebuild America" as he joined the crowded field of Democrats seeking to take on Donald Trump.Bloomberg's personal fortune of $50 billion is likely to shake up the open Democratic contest, with the declaration of his candidacy coming just three months before the first primary votes."The stakes could not be higher. We must win this election. And we must begin rebuilding

World NewsNov. 25, 2019

BTS picks up American Music Award for 2nd consecutive year

K-pop sensation BTS picked up three American Music Awards on Monday to mark the second consecutive year that the band has won honors at the mainstream US award show.Early in the show, the septet was announced as the winner of Favorite Duo or Group - Pop/Rock in the 2019 AMAs ceremony held at Microsoft Theater in California on Sunday night (US time).BTS then lifted two other awards for Tour of the Year and Favorite Social Artist, winning all three categories in which the band was nominated for th

PerformanceNov. 25, 2019

SK Biopharm to raise at least W5tr in IPO

South Korean drug firm SK Biopharmaceuticals Co. is expected to raise at least 5 trillion won ($4.25 billion) through a planned share sale, analysts said Monday. The company said Friday that XCOPRI, or cenobamate, has won approval from the US Food and Drug Administration for the treatment of partial-onset seizures in adults.  Following the FDA approval, SK Biopharmaceuticals will likely speed up its IPO, with its shares slated to be listed early next year, according to them.SK Biopharmaceut

IndustryNov. 25, 2019