[Newsmaker] Seoul subway workers to go on strike Wednesday

The labor union of Seoul Metro, which operates eight subway lines, announced a three-day walkout starting Wednesday if their demands are not met by the government.The union urged the Seoul Metro, Ministry of Interior and Safety and Seoul Metropolitan Government to meet the demands regarding enhancement of working conditions during a press briefing on Monday. “Seoul Metro has the highest rate of industrial accidents among all public corporations, and this results from the insensitivity to s

Social AffairsOct. 14, 2019

Korando, perfect choice for modern families in Korea

Storage for strollers, golf clubs and boxes of groceries, spacious backseats and high-end safety features are increasingly becoming important factors to customers in Korea seeking vehicles that fit their family-oriented lifestyles.Rather than choosing sedans with better driving performance, a growing number of customers -- particularly those in their 30s and 40s -- are looking for mid-sized sport utility vehicles in consideration of fuel economy, passenger convenience and ease of use.According t

MobilityOct. 14, 2019

S. Korea to lift regulations to boost exporters: Deputy PM

The government plans to eliminate various regulations that hinder the development of new technologies and overseas expansion of local firms amid the recent economic uncertainties, South Korea’s top financial policymaker said Monday.It is proposed to allow overseas affiliates of securities companies to take loans from Korean lenders, simplify the screening procedures for chemical facilities, and alleviate the authentication of certified industrial robots. “(The government) will lead t

EconomyOct. 14, 2019

[Photo News] THE AMG FAMILY

Dimitris Psillakis (left), CEO and president of Mercedes-Benz Korea, and Mark Raine, vice president of product and marketing, pose for photos at a session held for the media to test the new Mercedes-AMG GT four-door coupe and E53 4MATIC+ at the AMG Racing Track in Yongin, Gyeonggi Province, Monday. Introducing the family of high-performance AMG vehicles, Psillakis said, “No matter which AMG model you choose, you will get a high-performance vehicle, which excites with powerful performa

MobilityOct. 14, 2019

SK hynix’s YouTube video hits 12 million views

A YouTube video that chronicles SK hynix’s technological challenges over the years to mass-produce the world’s first 128-layer triple-level cell 4D NAND chip has received over 12 million views in less than two weeks of its release, the company said in a statement Monday.The corporate promotion video titled “Cheongju Jikji,” narrates how the company’s challenging spirit resembles the passion and drive that drove the inventors of the world’s first metal movable

TechnologyOct. 14, 2019

LVMH set to lose W8b from drop in YG’s stock value

Despite YG Entertainment’s scheduled return of a 67 billion won ($56.6 million) investment to LVMH this week, the French luxury giant is still projected to lose around 8 billion won due to the decline in the K-pop agency’s stock value, local reports said Monday. According to reports citing financial industry sources, LVMH also purchased 503,588 common shares of YG worth 20.3 billion won when it bought 1,359,688 redeemable convertible preferred shares in the entertainment agency via i

MarketOct. 14, 2019

Upbit operator Dunamu to launch comprehensive OTC platform

Dunamu, an operator of global cryptocurrency exchange Upbit, announced Monday that it plans to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the Upbit operator, it will jointly launch the platform, which will be available in the form of an app, with local brokerage Samsung Securities and big data analytics company Deep Search by the end of the month.  The goal of this collaborative effort is to address the problem of &ldq

MarketOct. 14, 2019

[Diplomatic circuit] Colombia eyes bolstering exports to S. Korea: trade minister

Colombia’s Minister of Trade, Industry and Tourism Jose Manuel Restrepo said the country is keen to bolster South Korea-bound exports, stressing now is the time to reshape bilateral trade between the two nations. “Exports from Colombia (to Korea) are (valued at) $600 million. The number of exporters (from Colombia) is growing. On the other side, we have imports of Korea at around $800 million. This means the balance is against Colombia. But that balance improving,” Colombian Mi

Diplomatic CircuitOct. 14, 2019

[Diplomatic circuit] German ambassador to Korea hopes for unity on Korean Peninsula

German Ambassador to South Korea Stephen Auer said last week he hopes for the peaceful reunification of the two Koreas in the near future, as Germany celebrated the 29th anniversary of its reunification and the 30th anniversary of the fall of the Berlin Wall.“Today is an emotional day not only for the German people but also for Koreans. The day of German unity and the fall of the Wall are special occasions because of our shared history of the separation of our nations,” Auer said at

Diplomatic CircuitOct. 14, 2019

[Diplomatic circuit] IVI urges international cooperation on R&D, distribution of vaccines

The International Vaccine Institute, an international organization based in Seoul, held a forum on its 22nd anniversary where the participants exchanged ideas on ways to boost global collaboration on research and development on vaccines and their delivery.“I hope for greater cooperation among IVI members and non-IVI members to expedite research and development, and distribution of vaccines,” International Vaccine Institute Director General Jerome Kim said in his welcoming speech.Abou

Diplomatic CircuitOct. 14, 2019

[Diplomatic circuit] ASEAN-Korea train to traverse S. Korea

Top officials from ASEAN countries and South Korea will hop on a train to travel across the country alongside citizens of the participating countries. The event, marking the 30th anniversary of ASEAN-Korea dialogue, also aims to promote next month’s ASEAN-Korea summit in Busan, the organizers said Monday.“The program aims to promote people-centered connectivity between ASEAN and Korea under the overarching theme of People, Prosperity, and Peace. … The journey will be featuring

Diplomatic CircuitOct. 14, 2019

[News Focus] Coway acquisition will fortify business stability: Netmarble

How does it add up when a games company acquires a home appliance rental business? Netmarble, a Korean firm that focuses on mobile game development and distribution, was on Monday named the preferred bidder for a 25.08 percent stake in Woongjin Coway, a firm that operates subscription services for water and air purifiers, mattresses and other miscellaneous household appliances.Netmarble, through an investors’ conference call the same day, explained that it will combine the technological ex

IndustryOct. 14, 2019

[Breaking] Justice Minister Cho Kuk steps down

Justice Minister Cho Kuk resigned from his cabinet post Monday, after nearly two months of investigation by prosecutors into corruption allegations surrounding his family. Cho said in a statement that while “prosecution reform had been (his) life’s mission as a scholar,” “something inconceivable has happened,” and that his role was over. Cho’s wife Chung Kyung-shim was summoned for questioning by prosecutors for the fifth time Monday morning.The parliamen

PoliticsOct. 14, 2019

Samsung SDI to spend W200b on ESS safety measure

Samsung SDI said it planned to adopt a special extinguishing system for its energy storage systems to prevent fires at a cost of about 200 billion won ($169 million), the firm said Monday. The special extinguishing system comprised of advanced chemicals and blockers of thermal diffusion can prevent fires from spreading to nearby cells even if a cell ignites, according to the battery maker. The company plans to apply the system to all of its new energy storage systems and also to the existing one

IndustryOct. 14, 2019

World No. 1 Ko Jin-young headlines field at lone LPGA stop in S. Korea

Ko Jin-young, the world No. 1 in women's golf from South Korea, will headline an 80-player field at an upcoming LPGA Tour event in her native country.Organizers of the inaugural BMW Ladies Championship on Monday announced the list of players to compete at the LPGA International Busan in Busan, 450 kilometers southeast of Seoul, from Oct. 24-27.Ko, who also leads the LPGA Tour in money, scoring average and the Player of the Year points in 2019, will be one of 50 LPGA members in the field, to be j

GolfOct. 14, 2019

Support rating gap of rival parties narrows: poll

A poll showed the major conservative party outperforming the ruling party in the approval rating for the first time since President Moon Jae-in’s inauguration.On Friday, a Realmeter poll showed the opposition Liberal Korea Party recording 34.7 percent approval rating while the ruling Democratic Party received 33.3 percent approval rating. The gap in approval ratings has dropped to under-one percentage point, reaching an all-time low since the start of President Moon’s administra

PoliticsOct. 14, 2019

Seoul raises concerns over Fukushima's contaminated water in London

South Korea's fishery ministry said Monday it raised concerns over Japan's plan to release contaminated water from its disabled Fukushima power plant into the sea at an international maritime gathering held in London last week.During a London Convention and Protocol meeting held last week at the headquarters of the Britain-based International Maritime Organization, South Korea urged Japan to make efforts to win consensus from neighboring countries on handling the water, according to the Ministry

Foreign AffairsOct. 14, 2019

World Cup qualifier in Pyongyang not to be broadcast live

South Korea's most-anticipated World Cup qualifier of the current campaign, set to kick off in Pyongyang, will not be broadcast live to a South Korean audience, broadcasters here said Monday.On Tuesday, North Korea hosts the South-North match for the second round of the Asian qualification for the 2022 FIFA World Cup at 5:30 p.m. at Kim Il-sung Stadium in the North Korean capital. It is a rare sports exchange between the two sides at a time of heightened tensions on the divided peninsula followi

North KoreaOct. 14, 2019

[Newsmaker] K-pop superband SuperM tops Billboard 200

Brand new K-pop act SuperM topped a main Billboard chart upon its debut in the United States, according the chart result re-released on Monday.The supergroup's first release, "SuperM: The 1st Mini Album," debuted at No. 1 on the Billboard 200 albums chart for the week of Oct. 19, making the septet the first K-pop band to do so following global phenomenon BTS, Billboard said.The achievement was made only two weeks after the group's official release on Oct. 4."The set ... launches w

PerformanceOct. 14, 2019

With no additional ASF case for 5th day, S. Korea in battle to stem possible spread via wild boars

South Korea's quarantine authorities on Monday vowed to prevent the potential spread of African swine fever via wild boars, as some of them were discovered dead with traces of the virus north of Seoul over the weekend.A total of five wild boars have been found dead north of Seoul this month amid rising speculation that the virus may have traveled from North Korea, which reported its own outbreak a few months earlier.   South Korea has reported 14 confirmed cases of ASF at local pig far

Social AffairsOct. 14, 2019