Top nuclear envoy to leave for US after Sweden talks break down

South Korea's chief nuclear envoy was set to leave for Washington on Monday for talks with his US counterpart after the breakdown of the working-level nuclear negotiations between the US and North Korea in Sweden. Lee Do-hoon, special representative for Korean Peninsula peace and security affairs, will meet Stephen Biegun, US special representative for North Korea, in Washington to coordinate their positions and strategies in the follow-up to Saturday's talks between Biegun and North Korea's top

Foreign AffairsOct. 7, 2019

[Herald Review] Jarasum becomes island of jazz

GAPYEONG, Gyeonggi Province -- The Jarasum International Jazz Festival took place from Friday to Sunday on Jarasum in Gapyeong, Gyeonggi Province.The event, launched in 2004, is one of the most successful music festivals here. Hosted on a once-abandoned island, it has garnered a total of 2 million attendees over the years.  On Friday, with the sun glaring, the 16th edition of the annual festival kicked off, featuring 121 artists, 15 overseas acts and eight local acts. Gugak-inspired ja

PerformanceOct. 6, 2019

N. Korea rules out talks with US until withdrawal of anti-North Korea policy

 North Korea said Sunday it does not have any willingness to talk with the United States again until Washington takes "practical measures for complete and irreversible withdrawal of hostile policy against" Pyongyang after their working-level talks broke down in Stockholm. In a statement carried by the North's official Korean Central News Agency, the North's foreign ministry blamed Washington for "abusing" the US-North Korea talks for their own domestic politics and added

North KoreaOct. 6, 2019

[Graphic News] Dementia cost Koreans more than W2tr last year

　As the population ages, the number of South Koreans with dementia has soared in recent years and so have associated costs, data showed. In 2018, dementia-related medical spending exceeded the 2 trillion won ($1.67 billion) threshold for the first time.　According to the data provided by the Ministry of Health and Welfare to Rep. Kim Kwang-soo, the number of people diagnosed with various forms of neurodegenerative disease rose from 416,309 in 2014 to 547,700 in 2016 and hit 712,386 last year. 　Du

TechnologyOct. 6, 2019

US, North Korea face uphill battle in nuke talks

The US and North Korea struggled to make headway in their working-level nuclear talks over the weekend, with Pyongyang blaming Washington for lacking a new proposal. Delegations from the US and North Korea held a meeting that lasted over eight hours in Stockholm on Saturday, to revive nuclear diplomacy that has stalled since US President Donald Trump and North Korean leader Kim Jong-un ended their second summit without a deal in Hanoi, Vietnam, in February. Shortly after the meeting, North

North KoreaOct. 6, 2019

[Monitor] Rosy prospects for Samsung Electronics’ Q3 earnings

South Korea’s tech giant Samsung Electronics is expected to see its third quarter earnings come in well over market consensus, according to forecast by Korea Investment & Securities. Next year’s operating profit will be even greater, the securities firm predicted in its report.The revenue of Samsung in the latest quarter will be around 65.8 trillion won and its operating profit sime 7.4 trillion, each exceeding earlier predictions by 5 percent and 9 percent, respectively, the rep

EconomyOct. 6, 2019

[News Focus] Portion of optimists over economy stays at 13%: poll

SEJONG -- A variety of polls show that the public disapproval rating for President Moon Jae-in now outstrips his approval rating.According to a survey from Gallup Korea, the portion of respondents who expressed negative opinion toward the president, exceeded the supporters for him for the sixth consecutive week since August.In the pollster’s latest survey, conducted on Oct. 1-2, 51 percent of the 1,000 citizens polled expressed disapproval of Moon’s performance, while the approval ra

EconomyOct. 6, 2019

[Photo News] BTS Lens sold at Lotte World Tower

An employee promotes contact lenses featuring Korean boy band BTS that is being sold at Avenuel World Tower branch of Lotte World Tower in Jamsil, Seoul, until this Wednesday. The event that offers free BTS posters along with other souvenirs for those purchasing “Boy with love” color contact lenses is co-organized by Big Hit Entertainment and lens provider Metaphor SC, Lotte said. (khnews@heraldcorp.com)

IndustryOct. 6, 2019

[ASEAN-Korea summit] Time to focus on people to create sustainable community with ASEAN

People-oriented diplomacy will empower South Korea’s pursuit of stronger partnership with Southeast Asian nations, Secretary-General of the ASEAN-Korea Center Lee Hyuk said. “We need to make efforts to get to know and respect ASEAN through deep understanding of their cultures and people in order to create an intimate community,” he said in a recent interview with The Korea Herald at the ASEAN-Korea Center in Seoul.The United States’ “America First” policy and

Foreign AffairsOct. 6, 2019

[Ivan Eland] How did we come to have a rogue presidency?

The media has given us blanket coverage of House Speaker Nancy Pelosi’s announcement of an official House impeachment inquiry into President Donald Trump’s apparent attempt to use congressionally appropriated funds to Ukraine to trade a desperate Ukrainian President Volodymyr Zelenskiy for an investigation of Trump’s political rival at home. But few commentators have explored how we have arrived at this juncture. And I don’t mean an investigation of Trump and Rudy Giulian

ViewpointsOct. 6, 2019

[Jonathan Woetzel, Jeongmin Seong] The Asianized world has arrived

 In the 19th century, the world was Europeanized. In the 20th century, it was Americanized. Now, it is being Asianized -- and much faster than you may think.Asia’s rise has been swift. Home to more than half of the world’s population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50 percent of world GDP, and could account for nearly 40 percent of global consumption.New McKinsey Global Institute re

ViewpointsOct. 6, 2019

S. Korea sees steepest drop in exports among key economies

South Korea marked the steepest drop in export volume so far this year among the world’s top 10 exporters, data showed.Korea’s export slowdown was especially noticeable in July, due partly to the slowdown in overall world trade volume and the drop in prices of semiconductors and petroleum products. Exports to China, in particular, dropped significantly by 16.6 percent from the previous month.  The month coincides with when Japan started to impose export curbs on key materials cr

EconomyOct. 6, 2019

Korean game companies offer unusual welfare programs

Once notorious for painstakingly long working hours and unfavorable conditions, game companies here are making a 180-degree-turn, offering workplace benefits that stretch beyond conventional areas.In-house day care for children, various classes to help employees develop their skills, gyms, libraries and lavish cafeteria meals are no longer unusual at these companies, according to industry sources.But Kakao Games and Pearl Abyss have other benefits that are more unusual. Kakao Games offers, among

IndustryOct. 6, 2019

[Contribution] How investors can position amidst China’s slowdown

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed.China’s economic growth has clearly slowed amid escalating US-China trade tensions. The weakness in industry and business investment appears to be spilling over to consumption, as seen in the recent deceleration in retail sales. The sluggish macro data highlights three areas of concern. First, producer prices entered deflation territory

MarketOct. 6, 2019

[Newsmaker] Cho Kuk’s wife denies allegations, to be summoned again

Chung Kyung-shim, the wife of scandal-ridden Justice Minister Cho Kuk, returned home near midnight Saturday after spending 15 hours at the prosecutor’s office for questioning over allegations she committed academic fraud and made a shady investment.Chung, a professor at Dongyang University, returned home around 11:55 p.m. on Saturday night after the second round of questioning, and she will be summoned again for questioning at a later date, the Seoul Central Prosecutors’ Office said

Social AffairsOct. 6, 2019

SK Plasma to export plasma-derived product to Brazil

SK Plasma announced Sunday that the company has been selected as one of the suppliers for intravenous immunoglobulin to treat patients with antibody deficiencies, in a blood product bidding for 2020 by the Brazilian government.According to the firm, the estimated export amount is to be around $20 million.SK Plasma, which span off from SK Chemicals’ Life Science business in 2015, deals with plasma derived products that are medicines used to treat such diseases as congenital immunodeficiency

IndustryOct. 6, 2019

Medical expenses for seniors to reach W60tr in 2025

Medical expenses for people aged 65 or older are expected to reach 57.94 trillion won ($48.64 billion) in 2025, when the country is projected to become a superaged society, data released by the National Assembly’s Health and Welfare Committee showed Sunday. The projected figure for 2025 is close to double the 31.6 trillion won recorded in 2018, according to the National Health Insurance Corporation data. The figure is expected to exceed 200 trillion won in 2045 and 337.1 trillion won in 20

Social AffairsOct. 6, 2019

Govt. to tighten departure process for foreigners staying without permission

Foreigners staying illegally in South Korea will go through a tighter inspection process before they are allowed to leave the country, the Ministry of Justice announced Sunday. According to the ministry, the rules will change so that people residing here without permission can no longer leave the country the day they report their departure plans to the authorities, but will have to make the report three to 15 days in advance. The new rule takes effect Oct. 21 and is being put in place to prevent

Social AffairsOct. 6, 2019

Mercedes-Benz posts No. 3 sales figure, after Hyundai, Kia

German carmaker Mercedes-Benz recorded the third-highest sales figure in the country in September, after Hyundai Motor and Kia Motors, outpacing three major local carmakers, according to industry data.According to data from the Korea Automobile Manufacturers Association and the Korea Automobile Manufacturers Association, a total of 118,895 vehicles were sold in September, an increase of about 8.9 percent from the previous month.Of them, Hyundai Motor and its sister company Kia Motors accounted f

MobilityOct. 6, 2019