GM Korea launches Chevrolet Traverse for growing large-SUV market

SOKCHO, Gangwon Province -- Targeting a young market that is led by Hyundai’s first large sport utility vehicle the Palisade, GM Korea on Wednesday launched the Chevrolet Traverse, highlighting its “aggressive” price strategy, quality features and American heritage.Introducing the vehicle as a “super SUV,” the carmaker said the Traverse will expand the choice of Korean customers wanting to experience premium outdoor activities with driving convenience. The three-row

MobilitySept. 4, 2019

MMCA’s Deoksugung outdoor project remembers Gojong, last Joseon king

The National Museum of Modern and Contemporary Art, Korea kicks off an outdoor exhibition in the area around Deoksugung and its main branch in Samcheong-dong on Thursday.“Architecture and Heritage: Unearthing Future” features works by architects from five architectural firms based in Asia -- Space Popular, CL3, Bureau Spectacular, OBBA and Obra Architects.It celebrates the 100th anniversary of the March 1 Independence Movement and the death of Emperor Gojong, the last king of the Jos

Arts & DesignSept. 4, 2019

BIFF award recipients to open and close this year’s festival

Films by directors who previously received commendations will open and close the upcoming 24th Busan International Film Festival, which organizers said was a testament to the annual film festival’s contributions to the Asian film scene.Opening BIFF 2019 is “The Horse Thieves. Roads of Time” by Kazakhstan’s Yerlan Nurmukhambetov and Japan’s Lisa Takeba. The film is about a boy, his encounter with horse thieves and his life after his childhood is dismantled following

FilmSept. 4, 2019

[Nir Kaissar] Ending inequality is not as easy as it seems

Buried among the storylines about global trade and political intrigue from the G-7 summit last month is perhaps the most noteworthy one of all. Business for Inclusive Growth, or B4IG, a coalition of 34 multinational companies with more than 3 million employees and revenues topping $1 trillion, unveiled an initiative to tackle inequality with help from the Organization for Economic Cooperation and Development.In its “pledge against inequalities,” the B4IG states what should be obvious

ViewpointsSept. 4, 2019

[Ana Palacio] Twilight of the global geopolitical order

We live in an era of hyperbole, in which gripping accounts of monumental triumphs and devastating disasters take precedence over realistic discussions of incremental progress and gradual erosion. But in international relations, as in anything, crises and breakthroughs are only part of the story; if we fail also to notice less sensational trends, we may well find ourselves in serious trouble -- potentially after it is too late to escape.The recent G-7 Summit in Biarritz, France, is a case in poin

ViewpointsSept. 4, 2019

Samsung launches first 5G-integrated mobile processor

Samsung Electronics has added a 5G modem-integrated chip edition to its mobile processor lineup Exynos, with the aim of popularizing 5G mobile devices, the tech giant announced Wednesday. Dubbed “Exynos 980,” it is the first artificial intelligence mobile processor with an integrated 5G modem in a single chip. The newest chip is being provided for customers this month and is scheduled to be mass-produced within the year.  Compared to previous chips that are separated from commun

TechnologySept. 4, 2019

Public institutions to expand investments to W55tr this year

South Korea’s top fiscal policymaker said Wednesday that public institutions will expand the size of their combined investments to 55 trillion won ($45.5 billion) this year as part of the government’s continued struggle to revitalize domestic economy amid growing uncertainties.“(The government) will ensure that public institutions make investments of 55 trillion won within the year, by advancing the timeline of some incoming investment projects,” said Deputy Prime Ministe

EconomySept. 4, 2019

Rival parties agree to hold Cho Kuk hearing on Friday

After weeks of wrangling, the ruling and main opposition parties agreed to hold a parliamentary confirmation hearing of Justice Minister nominee Cho Kuk on Friday.The dramatic agreement came after the rival parties sparred on Wednesday over the date of a parliamentary confirmation hearing for the nominee is facing a flurry of allegations involving his daughter and wife.All the parties have agreed not to summon Cho’s family members to the hearing.“We had many differences, but based on

PoliticsSept. 4, 2019

Kono blames S. Korea for breaking international law

Japanese Foreign Minister Kono Taro has criticized the South Korean government for having “unilaterally abrogated” a treaty signed by the two countries, arguing that a lack of trust led to their bilateral relations plummeting. Japan claims that the 1965 treaty that normalized ties between the two countries settled the issue of Tokyo’s forced labor mobilization of Korean nationals during the colonial period.“The heart of the problem is whether the promises made between our

Foreign AffairsSept. 4, 2019

KT unveils comprehensive system to prevent network fires

Last November, when a fire broke out in the basement of a KT building in the Ahyeon neighborhood of central Seoul, those living in the country’s most wired city discovered how fragile their telecommunication system could be. 　Not only did residents find themselves unable to make calls or access the internet, but they were also restricted from using credit cards. An emergency room at a major hospital had to close temporarily as diagnosis data was shut down. Full recovery works took about a

TechnologySept. 4, 2019

Mirae Asset Daewoo picked as best brokerage

South Korean financial consumers chose Mirae Asset Daewoo as the nation’s top brokerage this year, a survey by the Korea Finance Consumer Federation showed Wednesday, as it outperformed competitors on criteria related to stability.The survey, conducted biannually by a major civic group for financial consumers here, involved more than 5,000 consumers and 56 local brokerages.  The civic group also took the firms’ financial soundness and business decisions into consideration.&

MarketSept. 4, 2019

No. of S. Koreans traveling to Japan dives amid boycott campaign

The number of South Korean tourists visiting Japan plunged more than 19 percent on-year last month due to a widening voluntary "Japan tour boycott" campaign against Tokyo's recent implementation of strict trade regulations on Seoul, the country's main airport operator said Wednesday.According to the Incheon International Airport Corp., 969,000 locals traveled to Japan via the airport, west of Seoul, last month, a 19.5 percent drop from the previous year.  The plunge is in stark co

Social AffairsSept. 4, 2019

N. Korea slams Japan over suspected plan to discharge radioactive water

North Korea's state media slammed Japan on Wednesday over its suspected plan to discharge radioactive water into the sea, saying it would be a criminal act that could bring about a nuclear calamity in the region.Environmentalist group Greenpeace earlier said that Japan is planning to discharge about 1 million tons of radioactive water from its crippled Fukushima nuclear power plant into the Pacific Ocean. Japan has said that it has not made any specific decision yet on how to dispose of the cont

North KoreaSept. 4, 2019

Korean IPO market will rebound in Oct.: report

South Korea’s lackluster initial public offering market is set to gain momentum in October, according to a local brokerage firm Wednesday, with some big names gearing up to get listed. “Companies that went public on the tech-heavy secondary Kosdaq bourse in August generated an average return rate of minus 18 percent, overall below the average return on the Kosdaq market, which shed 3 percent throughout the month,” analysts at SK Securities said. “Big firms such as Lo

MarketSept. 4, 2019

[IFA 2019] AI to set tone at Europe’s biggest consumer electronics show: organizers

Only a day remains to the beginning of this year’s IFA, Europe’s biggest annual trade show for consumer electronics in Berlin, Germany, where innovative, pioneering technologies from across the world gather for a showdown. IFA organizers Messe Berlin and gfu Consumer & Home Electronics said artificial intelligence will set the tone for trends at this year’s event. Many types of devices using AI are self-teaching and able to improve their performance for the user’

IndustrySept. 4, 2019

LG Chem, UDC to develop upgraded OLED materials

LG Chem said Wednesday it has partnered with US materials producer Universal Display to improve the performance of key materials of organic light-emitting diodes. The two companies signed a partnership agreement to develop the next-generation OLED emitting layer. It is comprised of a “host” that helps to emit light and “dopant” that emits a specific color.  Through the partnership, both firms aim to find the best combination with LG Chem’s low-voltage, long-liv

IndustrySept. 4, 2019

World Energy Congress to be held in UAE on ‘energy for prosperity’

The World Energy Council, chaired by Daesung Group Chairman Younghoon David Kim, will host the 24th World Energy Congress from Monday to Thursday in Abu Dhabi, the United Arab Emirates, under the theme of “Energy for Prosperity.” About 15,000 people from the energy sector representing over 150 countries are expected to attend the event. They include representatives of global energy companies and international organizations, academics, heads of government and top energy department off

IndustrySept. 4, 2019

S-Oil holds charity event ahead of Chuseok

With the Chuseok holiday approaching, South Korea’s leading oil refiner S-Oil held a charity event at Sungsan Community Welfare Center on Wednesday. The event, titled “Sharing Songpyeon with S-Oil,” was attended by CEO Hussain A Al-Qahtani, along with some 100 executives and employees of the firm. They made songpyeon, a type of rice cake eaten during Chuseok, and donated food as well as gift sets consisting of groceries and daily necessities to 800 low-income families in the Ma

IndustrySept. 4, 2019

Renault Samsung stands out in crowd with deep localization

While it may not have the largest market share in South Korea, Renault Samsung Motors is playing a significant role with its active localization efforts.The local unit of French automaker Renault Group operates a plant in Busan that was ranked No. 8 for productivity out of 148 automobile plants worldwide in a 2016 evaluation by the Harbour Report.The company also contributes to the local economy. In 2017 it brought in more than 2.44 trillion won ($2 billion) for its suppliers, up 11.3 percent on

MobilitySept. 4, 2019