US likely to release report on cargo ship accident next year

The United States is likely to issue a final report next year on its joint probe with South Korea into the capsizing of a cargo ship off the US east coast, an official has said.The 71,000-ton, Marshall Islands-flagged Golden Ray carrying about 4,000 cars capsized in St. Simons Sound near the Port of Brunswick, Georgia, on Sept. 8. The Golden Ray was operated by Hyundai Glovis Co., a logistics unit of South Korea's Hyundai Motor Group. Last month, officials of South Korea and the Marshall Islands

Foreign AffairsOct. 19, 2019

Seoul stocks to move in tight range next week

South Korean stocks are expected to move in a tight range next week as investors remain wary over the US-China trade row, analysts said Saturday. On Friday, the benchmark Korea Composite Stock Price Index ended down 17.25 points, or 0.83 percent, at 2,060.69 as China's third-quarter growth slowed to a 27-year low of 6 percent.This week, the KOSPI gained 0.79 percent. In a widely expected move, the Bank of Korea slashed its key rate to 1.25 percent from 1.5 percent this week -- the second rate cu

EconomyOct. 19, 2019

S. Korean beauty retailers vying to secure customers amid Sephora's debut

South Korean big-name beauty retailers are set to vye for a lion's share in the country's already saturated market, as the global heavyweight, Sephora, is set to open its first outlet in the country next week, industry sources said Saturday.Sephora will be coming to Parnas Mall in the posh district of Gangnam in southern Seoul next Thursday, Sephora Korea said. Spread across 547 square feet, the store will feature hundreds of cosmetics, skin care, body and fragrance brands, along with its own pr

IndustryOct. 19, 2019

Defending champion Koepka withdraws from CJ Cup with knee injury

Defending champion Brooks Koepka has withdrawn from the CJ Cup @ Nine Bridges, the lone PGA Tour stop in South Korea, after aggravating a knee injury.The world No. 1 will not have a chance to win his second straight title in Jeju Island, after taking himself out of the no-cut event before the start of Saturday's third round. Koepka opened his title defense with rounds of 69-75 to sit in a three-way tie for 51st place at even par, 13 strokes behind the 36-hole leader Justin Thomas at the Club @ N

SportsOct. 19, 2019

World's 1st female spacewalking team makes history

The world's first female spacewalking team is making history high above Earth. NASA astronauts Christina Koch and Jessica Meir exited the International Space Station on Friday, the first time in a half-century of spacewalking that a woman floated out without a male crewmate. Their job is to fix a broken part of the station's solar power network. America's first female spacewalker from 35 years ago, Kathy Sullivan, is delighted. She says it's good to finally have enough women in the astronau

World NewsOct. 18, 2019

Police request arrest warrants for 9 students over break-in

Police said Saturday they have requested warrants for the arrests of nine South Korean university students for breaking into the residence of the top US envoy in South Korea.The request comes a day after 17 student members of a progressive civic group broke into the residence of US Ambassador Harry Harris in central Seoul by climbing over its wall using a ladder.They staged a surprise protest criticizing the US demand for a hefty rise in South Korea's share of the cost for the upkeep of the 28,5

Social AffairsOct. 18, 2019

Samsung to update software to prevent security flaw in Galaxy S10, Note 10

 Samsung Electronics announced late Friday that the tech giant will update its software due to potential security breaches in flagship smartphone models Galaxy S10, S10 Plus, S10 5G and Note 10 next week. The announcement was made in response to recent reports of a case in the United Kingdom in which a user claimed that when her Galaxy S10 screen was covered with a silicon protective case, the device was unlocked with someone else’s fingerprint. The issue involved ultrasonic fing

TechnologyOct. 18, 2019

S. Korea, US to hold defense cost talks in Hawaii next week

South Korea and the United States plan to hold a new round of negotiations on sharing the cost of the upkeep for the 28,500-strong US Forces Korea in Hawaii next week, Seoul's foreign ministry said Friday.Seoul's top negotiator, Jeong Eun-bo, and his US counterpart, James Dehart, will meet in Honolulu on Wednesday and Thursday. The last round of talks took place in Seoul last month. "Based on the stance that our government will shoulder the fair share of defense costs at a reasonable l

DefenseOct. 18, 2019

Woori Financial signs MOU with SAP for digitalization of financial services

Woori Financial Group said Friday it has signed a memorandum of understanding with Germany-based business-software giant SAP to boost the digital transformation of its corporate financial services. The deal was signed by Woori Financial Group Chairman Sohn Tae-seung and SAP CEO Jennifer Morgan at the SAP Executive Briefing Center in New York on Thursday, local time. The value of the deal was not released.  Though the newly formed partnership, both sides will cooperate in establishing an int

MarketOct. 18, 2019

SK’s bio biz put to test as it waits for FDA approval for antiepileptic drug

The US Food and Drug Administration is likely to make a final decision in November on approval for Cenobamate, an investigational antiepileptic drug developed by SK Biopharmaceuticals.The company is the pharmaceuticals development business under SK Holdings. The firm has been researching for new treatments for diseases related to central nervous system since 1993. Since 2011, when SK Biopharmaceuticals was spun off to become a separate entity, the company has used roughly 480 billion w

IndustryOct. 18, 2019

Korean pharmas eye China

Korean pharma and biopharma companies are considering the inevitable: the advance to the Chinese market. According to Korea Health Industry Development Institute, Friday, China was the second biggest market for pharmaceuticals after the US in 2018.The Chinese pharma market was set at $142.7 billion, still a far cry from the US at $361.5 billion. Japan trailed in third place at $108 billion and Germany at $71.7 billion. Korea ranked No. 13 worldwide at $17.4 billion.  Yuhan Corp., one of Kor

IndustryOct. 18, 2019

S. Korea asks regional football body to consider punishing N. Korea over crowdless World Cup qualifier

South Korea's national football federation said Friday it has asked the sport's continental governing body to consider penalizing North Korea for hosting a recent World Cup qualifier behind closed doors.The Korea Football Association said it sent a letter to the Asian Football Confederation on Thursday, expressing its regrets over North Korea's lack of cooperation in staging the inter-Korean World Cup qualifier in Pyongyang on Tuesday.North Korea shunned South Korea's repeated inquiries regardin

North KoreaOct. 18, 2019

North Korean leader visits farm, calls for stable food supply

North Korea leader Kim Jong-un visited a greenhouse farm, stressing the need to actively introduce advanced cultivation technique to improve food supply, according to the North’s state media Korean Central News Agency. It said Kim gave field guidance to the Jungphyong Vegetable Greenhouse Farm and Tree Nursery under construction in Kyongsong County.“It is essential to meticulously operate and manage the farm so as to show our success in the production the vitality of a highly intensi

North KoreaOct. 18, 2019

US to consider S. Korea’s stance on looming auto tariffs: Mnuchin

As US President Donald Trump mulls a list of countries to impose auto tariffs on, US Treasury Secretary Steven Mnuchin said Washington will take South Korea’s stance on the matter into account, Korea’s Ministry of Economy and Finance said Friday. According to the ministry, Deputy Prime Minister and Finance Minister Hong Nam-ki requested the US Treasury support the exemption of South Korea from auto import tariffs on cars that the Trump administration deems a threat to national securi

EconomyOct. 18, 2019

[Newsmaker] Trial begins for ex-justice minister's wife

Court proceedings for recently resigned Justice Minister Cho Kuk’s family began Friday. The trial preparation hearing for Cho’s wife, Chung Kyung-shim, 57, was held at the Seoul Central District Court at 11 a.m.The pretrial hearing is intended to allow defendants to clarify their positions on the charges pressed against them. As defendants are not obliged to attend, Chung did not appear. Chung, a professor at a private university, was indicted on Sept. 6 over charges of fabricat

PoliticsOct. 18, 2019

Prosecution was independent under ex-President Lee: top prosecutor

At a parliamentary audit Thursday, Prosecutor General Yoon Seok-youl said the prosecution was independent under former President Lee Myung-bak. Asked to pick one president that best favored an independent prosecution, Yoon chose Lee among the three recent presidents including former President Park Geun-hye, Lee’s successor who was removed from office over corruption charges, and incumbent President Moon Jae-in, who replaced Park. “When Lee was president, I serve

PoliticsOct. 18, 2019

Samsung launches new foundry forum in Silicon Valley

Samsung Electronics said Friday it has launched a new forum in Silicon Valley as part of the efforts to enhance competitiveness of its foundry business. Named as Samsung Advanced Foundry Ecosystem, or SAFE, the forum has been designed to provide an opportunity for Samsung’s partner companies to directly meet with customers and discuss comprehensive design technology infrastructure -- including electronic design automation, intellectual property, cloud, design service, and packaging -- whic

TechnologyOct. 18, 2019

NSC reviews strategy on defense cost talks with US

South Korea's National Security Council on Friday reviewed issues related to defense cost-sharing talks with the United States, Cheong Wa Dae said.Seoul and Washington are expected to hold another round of Special Measures Agreement negotiations in Hawaii next week.It would be the first bargaining session since the Moon Jae-in administration appointed Jeong Eun-bo, a veteran finance official, as its new top negotiator. The US is calling for a sharp increase in Seoul's contribution to the presenc

DefenseOct. 18, 2019

President Moon to send letter to Abe via PM

President Moon Jae-in is expected to send a letter to Japanese Prime Minister Shinzo Abe through Prime Minister Lee Nak-yon as part of efforts to improve bilateral relations that have plummeted over wartime history and trade restrictions.Lee will be making a three-day trip to Tokyo from Oct. 22 to attend Japanese Emperor Naruhito’s enthronement ceremony. He is likely to hold talks with Abe on Oct. 24, according to Japanese news reports citing government sources. The prime minister said in

Foreign AffairsOct. 18, 2019

Japan emperor to proclaim enthronement in ritual-bound ceremony

TOKYO (AFP) -- Japan's new Emperor Naruhito will formally proclaim his ascension to the throne next week in a ritual-bound ceremony, but the after-effects of deadly typhoon will cast a shadow over proceedings.Naruhito officially assumed his duties as emperor on May 1, a day after his father became the first Japanese monarch to abdicate in 200 years.But the transition will not be complete until his new role is officially proclaimed on Tuesday, in a series of events expected to be attended by fore

World NewsOct. 18, 2019