US court dismisses 8b euro lawsuit against Woori Bank

A court in New York dismissed an 8-billion euro ($8.7 billion) lawsuit by AJ Energy LLC against South Korea's Woori Bank over an alleged failure in bank transfer, the bank's parent Woori Financial said Friday.  Little-known AJ Energy, which is reportedly registered in Nevada, filed the lawsuit in March last year, claiming that Woori Bank failed to transfer the money. AJ Energy claimed that the money was allegedly transferred to Woori Bank from the US firm's foreign investors, but Woori Bank

IndustrySept. 27, 2019

Philippines eyes 2 million Korean tourists by year-end

The Embassy of the Republic of the Philippines in Korea announced a recent jump in the number of Koreans visiting the country, saying it aims to attract 2 million Korean tourists by the end of the year.“Last year, we were able to achieve 1.6 million (Korean) tourists. Because of that we aim to work for 2 million Korean tourists this year of 2019. By the end of 2019, in December, I will be proud to say we achieved 2 million. I look forward to that,” Ambassador Noe Albano Wong, who too

TravelSept. 27, 2019

S. Korea, Bulgaria to strengthen partnerships on nuclear energy, ICT

The leaders of South Korea and Bulgaria agreed Friday to bolster strategic partnerships between the two nations in various fields, including nuclear energy, ICT and arms production.The accord came at summit talks here between President Moon Jae-in and visiting Prime Minister Boyko Borissov, according to Cheong Wa Dae.Moon began the Cheong Wa Dae summit by expressing his gratitude for Sofia's help in the search for missing South Koreans in a May river cruise boat sinking on the Danube River in Bu

Foreign AffairsSept. 27, 2019

Moon stresses human rights, reform amid investigation of justice minister

President Moon Jae-in on Friday stressed the importance of reforming the prosecution, Cheong Wa Dae said. According to spokesperson Ko Min-jung, Moon emphasized that whether Cho is responsible for any wrongdoings will be determined according to the law and that he should be allowed to conduct his official duties regardless of the investigation in the meantime. “The duties of the prosecution should be left to the prosecution, and state affairs should be allowed to continue,” Moon

Social AffairsSept. 27, 2019

Man arrested for fatally beating stepson for 20 hours

A South Korean man in his 20s has been taken into custody on suspicion of beating his stepson to death. On Friday, the Incheon Metropolitan Police Agency revealed it is seeking an arrest warrant for the 26-year-old suspect, who allegedly beat his 5-year-old stepson to death.  The man is accused of tying up the victim with cable ties and beating him with a wooden bar for around 20 hours starting Wednesday afternoon and into the next day at their home in the Michuhol district of Incheon. Arou

Social AffairsSept. 27, 2019

Russia detains N. Korean fishing vessels, 262 crew for poaching - Ifax

MOSCOW (Reuters) -- Russian border guards detained three North Korean fishing vessels and 262 crew members for poaching in waters that Moscow considers its exclusive economic zone, the Interfax news agency reported on Friday. The vessels have been delivered to Russia's port of Nakhodka and border guards have seized 30,000 squid as well as illegal fishing equipment, the report said.It is the second such incident this month. Russia on Sept.17 detained two North Korean boats in Russian territorial

North KoreaSept. 27, 2019

As North Korea expands arsenal, Japan's missile defense shield faces unforeseen costs - sources

TOKYO (Reuters) -- Additional tests may add at least $500 million to Japan’s price tag for two US-built ballistic missile interceptor stations that could struggle to shoot down the latest North Korean missile types, four government and defense sources said.“Japan is waiting to hear back from the US Missile Defense Agency about what tests will be required,” said one of the sources. “Those tests haven’t been budgeted for.”As part of a major defense upgrade, Japa

North KoreaSept. 27, 2019

SK Innovation, EVE Energy to build EV battery plants in China

　SK Innovation said Friday it will establish a joint venture with Chinese battery maker EVE Energy to build electric vehicle battery plants in China. 　The project will involve $525 million to build factories capable of producing 20 to 25 gigawatt-hours. 　Established in 2001, EVE Energy is a leading Chinese lithium battery maker. Earlier this month, the company won a contract to provide EV batteries for Hyundai Motor.  　To seize opportunities in the Chinese EV market, SK Innovation has been

IndustrySept. 27, 2019

No kidding: Japan airlines offer seat maps to avoid tots

TOKYO (AFP) -- Fed up with finding yourself next to a screaming child on a long-haul flight? On some Japanese airlines a seat map will warn you where potentially bawling babies are sitting.The facility, offered as part of Japan Airlines' "Smile Support" travel service for those with infants, is not new, but lit up the internet after a Twitter user praised it."Thank you, @JAL_Official_jp for warnings me about where babies plan to scream and yell during a 13 hour trip. This really o

World NewsSept. 27, 2019

GS Caltex partners with Petrolimex Saigon for gas station operations

GS Caltex said Friday it has signed a memorandum of understanding with Vietnam’s Petrolimex Saigon to share its expertise in operating gas stations. State-run oil business Petrolimex runs more than 5,200 gas stations in Vietnam, with a presence in all 63 provinces of the country. It launched Vietnam’s first self-service gas station in Ho Chi Minh City in January. Under the agreement, GS Caltex will share its know-how on gas station operations in terms of technology and services,

IndustrySept. 27, 2019

[Herald Interview] ‘Take the burden off our children’

In the eyes of Song In-soo, South Korea is a cruel place for schoolchildren. After official school hours are done, they sit for several more hours in “shadow schools.” At hagwon, as they are more commonly known, elementary school students learn middle school subjects. Middle school students may even be expected to complete the entire high school math curriculum before they start high school. “Parents come home from work in the evening, but their kids aren’t home from hagw

Social AffairsSept. 27, 2019

LG Chem files additional lawsuits against SK Innovation

　LG Chem said Friday it has filed additional lawsuits against SK Innovation and its US affiliate, raising the stakes in a monthslong legal battle over electric vehicle battery patents.  　In a statement, LG Chem said SK Innovation and SK Battery America are infringing its patents for lithium-ion batteries. The lawsuits were filed Thursday with the US International Trade Commission and the US District Court of Delaware. 　The move came in response to SK Innovation’s Sept. 3 lawsuits alle

IndustrySept. 27, 2019

Police begin probe into professor over remarks on wartime sexual slavery

Police have launched an investigation of a conservative professor who allegedly called Korean victims of Japan's wartime sexual slavery "prostitutes" during a school lecture, a Seoul prosecution official said Friday.A civic group filed a complaint with the prosecution Monday against Lew Seok-choon, a sociology professor at Yonsei University in Seoul, on charges including libel, sexual harassment and spreading false information. "We have assigned Professor Lew's case to the crimina

Social AffairsSept. 27, 2019

Moon warns prosecution not to abuse its authority over justice minister probe

President Moon Jae-in stressed the need Friday for far-reaching reform of South Korea's prosecution, responding to a heated political controversy over the way state prosecutors are investigating a fraud and corruption scandal involving Justice Minister Cho Kuk's family.The prosecution has been intensifying a probe into the case, highlighted by a raid on the minister's house earlier this week.Critics of Cho and the Moon administration say that the minister is unqualified and that he should immedi

PoliticsSept. 27, 2019

S. Korea's JCS chairman to visit Washington to meet US counterpart

South Korea's Joint Chiefs of Staff Chairman Gen. Park Han-ki is scheduled to visit the United States next week to attend a change of command ceremony for his US counterpart, his office said Friday.Park will make a four-day visit to Washington starting on Sunday to meet US JCS Chairman Gen. Joseph Dunford, who is set to hand the reins to Gen. Mark Milley at the conclusion of his four-year term, according to Park's office.   It will be the first time that a South Korean JCS chairman has

DefenseSept. 27, 2019

Prosecutors grill Cho Kuk’s brother over foundation

Prosecutors grilled Justice Minister Cho Kuk’s younger brother on Thursday over alleged irregularities involving the Cho family’s private school foundation.Cho’s brother left the Seoul Central District Prosecutors’ Office at around 11:40 p.m. Thursday after more than 13 hours of questioning about the lawsuit he and his ex-wife filed against Ungdong School to collect receivables for a construction project.  Cho’s father ran the construction firm Goryeo Construct

Social AffairsSept. 27, 2019

S. Korea's trade terms continue to worsen in Aug.

South Korea's trade terms continued to decline in August amid a continued drop in exports, central bank data showed Friday.The terms of trade index for products came to 89.94 in the month, down 4.6 percent from the same month last year, according to the data from the Bank of Korea .The reading marks 21 consecutive months of decline in the index. The trade terms index measures the amount of imports a country can purchase for each unit of exports. A reading below 100 means import prices are higher

EconomySept. 27, 2019

Hyundai Motor joins hands with Cummins for hydrogen fuel cell technology

Hyundai Motor Group said Friday it has partnered with US powertrain giant Cummins to develop technology for electric and fuel cell powertrains and commercialize them in the US. The automaker has signed a memorandum of understanding with Cummins to work together to develop next-generation fuel cell systems.  Through the collaboration, the company expects to develop powertrain products by combining Hyundai Motor’s fuel cell systems with Cummins’ electric powertrain, battery a

MobilitySept. 27, 2019

N. Korea continues to build new ballistic missile submarine: 38 North

North Korea has continued to build a new ballistic missile submarine at its Sinpo shipyard, a US monitor said Thursday, citing recent commercial satellite imagery.38 North, which monitors activities inside the North Korean regime, said satellite imagery of the shipyard from Aug. 26 and Sept. 23 showed the movement of parts and equipment near the construction hall, indicating construction has continued since North Korean leader Kim Jong-un's reported visit to the site in late July.However, the ty

North KoreaSept. 27, 2019

Dodgers' Ryu Hyun-jin to make final regular season start on weekend with ERA title at stake

It's come down to one last outing.Los Angeles Dodgers' South Korean left-hander Ryu Hyun-jin will make his final start of the regular season this weekend against the San Francisco Giants. The game will be at 1:05 p.m. Saturday at Oracle Park in San Francisco -- that's 5:05 a.m. Sunday in Seoul.Ryu (13-5) will try to win his 14th game of 2019 and match his single-season career high. He previously won 14 games in each of his first two big league seasons in 2013 and 2014.More importantly, Ryu will

BaseballSept. 27, 2019