[Photo News] Ronaldo arrives in Seoul for match with Korean All-Stars

Soccer superstar Cristiano Ronaldo landed at Incheon Airport on Friday afternoon. He will be leading Juventus in an exhibition match against the K League All-Star team, slated to take place at Seoul World Cup Stadium on Friday at 8 p.m.Hundreds of soccer fans waited at the airport to welcome the 34-year-old Portuguese player, who last visited Seoul in July 2007 for an exhibition match with Manchester United. By Choi Ji-won (jwc@heraldcorp.com)

SoccerJuly 26, 2019

Woori acquires Kukje Asset Trust to beef up nonbanking sector

Woori Financial Group said Friday it has acquired Kukje Asset Trust, a local real estate trust company, in an effort to boost its nonbanking portfolio.The financial holding firm signed a stock purchase agreement to acquire a combined controlling stake of 65.7 percent from Kukje Asset Trust Chairman Yoo Jae-eun and his partners.  Woori said it has acquired the first batch of stock traded -- 44.5 percent -- and the remaining 21.27 percent will be acquired three years later, with Chairman Yoo

MarketJuly 26, 2019

NPS invested W5.6 trillion in Japanese companies linked to forced wartime labor

The National Pension Service invested some 5.6 trillion won ($4.73 billion) between 2014 and 2018 in Japanese companies linked to Japan’s forced wartime labor, raising questions about the service’s investment decisions. The figures were released by Rep. Kim Kwang-soo of the minor opposition Party for Democracy and Peace, who is a member of the National Assembly’s Health and Welfare Committee.The figures show that a total 87.5 billion won had been invested in Japan’s Mitsu

PoliticsJuly 26, 2019

Seoul mayor’s Gwanghwamun makeover plans unfeasible: minister

Interior and Safety Minister Chin Young said Thursday the ministry and the Seoul Metropolitan Government are far from reaching an agreement on the city’s plans to revamp Gwanghwamun Square. The ministry and the city government have had “lengthy discussions that have reached no agreement to date,” Chin said of the square’s renewal during a press briefing.In January, Seoul City announced a plan to transform the square by 2021. The renewed square would be 3.7 times larger, w

Social AffairsJuly 26, 2019

Moon reshuffles three top secretaries

Cheong Wa Dae on Friday named new senior presidential secretaries for civil affairs, job creation and civic society, with a wider Cabinet reshuffle expected next month.  Kim Jo-won, head of Korea Aerospace Industries, was appointed senior secretary for civil affairs, replacing Cho Kuk. Cho served his post for 26 months since taking office in May 2017 as one of President Moon Jae-in’s first senior presidential secretaries. He is expected to be appointed as the next justice minister.&nb

PoliticsJuly 26, 2019

Anycos’ QR code packaging to help prevent copycat products

The market for packaging has grown along with the popularity of online shopping, deliveries and home meal replacements. Korean food manufacturing giant CJ projected that sales of home meal replacements would triple from 240 billion won ($203 million) in 2017 to 700 billion won by 2020. Tapping into this trend, Anycos, which opened a factory in January in Hwaseong, Gyeonggi Province, is prepared to annually manufacture roughly 40 million meters of plastic packaging materials for food, cosmetics a

IndustryJuly 26, 2019

Trade minister reaches out to US politicians, businesses over Japan’s export curbs

Trade Minister Yoo Myung-hee warned that Tokyo’s trade measures will set a “risky precedent” while seeking cooperation from US politicians, think tanks and trade organizations over Japan’s export restrictions, the ministry said Friday.During her visit to the US from Tuesday to Thursday, the trade minister met with US politicians, including Commerce Secretary Wilbur Ross, Foreign Affairs Chairman Eliot Engel and Texas Congressman Michael McCaul, as well as think tanks, inc

IndustryJuly 26, 2019

S. Korea to double fund for restructuring of SMEs

South Korea's financial regulator said Friday it will double the size of funds to restructure struggling small and medium-sized enterprises this year, as part of its drive for "market-oriented" corporate restructuring. The government has launched a 1 trillion-won ($845 million) fund for the restructuring of SMEs, but the Financial Services Commission said it will increase the fund to 2 trillion won this year.  The fund will be gradually expanded to 5 trillion won, the FSC said in

EconomyJuly 26, 2019

DUIs in Seoul drop 23% under toughened rules

Drunk driving cases dropped 23 percent in Seoul in the month following the introduction of toughened regulations.The revised traffic law, the Second Yoon Chang-ho Act, lowered the legal limit of drivers’ blood alcohol level and imposes stronger punishments for driving under the influence.Yoon, an Army conscript and college student, was hit by a drunk driver in Busan in September last year. He suffered severe head injuries and died in November. Yoon’s death led the National Assembly t

Social AffairsJuly 26, 2019

Heavy rain warnings issued in central regions, downpour in store for weekend

The season’s first heavy rain warning was issued in Seoul on Friday morning, with nationwide downpours in store over the weekend. The Korea Meteorological Administration adjusted a heavy rain watch to heavy rain warnings across Seoul, Incheon and parts of Gyeonggi Province that saw heavy rains Friday morning, while heavy rain alerts remained in effect in parts of the central region.Heavy rain warnings are issued when more than 90 millimeters of rain in three hours or over 180 millimeters o

Social AffairsJuly 26, 2019

[Eye Plus] Centennial memory preserved in city center

It is just five minutes’ walk from Seodaemun Subway Station in central Seoul to get out of the glittering city and travel back in time to the early 20th century. The Donuimun Museum Village resurrects an old Seoul neighborhood of the 1960s-1980s with a barbershop, movie theater, arcade, comic book store and more. About 30 historic houses were repurposed and given a new life at the brink of demolition for the public park. Opened in October 2017, the area is the result of the city

CultureJuly 26, 2019

Samsung narrows gap with Xiaomi in India's smartphone market in Q2

Samsung Electronics Co. remained the second-largest smartphone vendor in India behind Xiaomi in the second quarter, but the Korean tech giant closed the gap with its Chinese rival with a reinforced budget lineup, industry data showed Friday. Xiaomi shipped 10.2 million smartphones in India in the April-June period for a 28.7 percent market share, according to market research firm Strategy Analytics. Samsung Electronics shipped 9.4 million units, 26.3 percent of the total, in the period, putting

IndustryJuly 26, 2019

N. Korea's 'new' ballistic missiles similar to Russia's Iskander: Seoul

The short-range missiles that North Korea test-fired this week were a new type of ballistic weapon similar to Russia's Iskander, the military authorities here said Friday, citing the projectiles' unique flight pattern.North Korea on Thursday fired two short-range missiles into the East Sea from near the eastern coastal town of Wonsan, and both flew around 600 kilometers at an altitude of around 50 km, according to an officer at the Joint Chiefs of Staff."Differing from a general parabolic t

North KoreaJuly 26, 2019

[Box Office] Movies in theaters this week

The King’s Letters(Korea)Opened July 24Drama, HistoryDirected by Jo Cheon-hyeonDuring the last eight years of Sejong the Great’s rule, the power to read or write was still monopolized by noblemen, as Korea did not have its own writing system, making it difficult for commoners to become literate. Sejong (Song Kang-ho) meets with Buddhist monk Sinmi (Park Hae-il) to create a writing system for the people. Lion King(US)Opened July 17Animation, Adventure, Drama　Directed by Jon Favre

FilmJuly 26, 2019

Locally-sourced, wet-aged tonkatsu at new Seoul hotspot

Still in its pre-opening stage, newly minted tonkatsu restaurant Hoshi Katsu, which soft-opened in early June in Seoul’s Cheongdam-dong, has diners lining up for a taste of its fried pork cutlet. Even if one doesn’t know chef Im Yong-jae only uses Jeju black pork that has been wet-aged for 15 days and uses crumbs made from custom-made bread, one might take notice of these fried-to-order cutlets with their shaggy, golden crusts and incredibly juicy interior. “It has to be f

FoodJuly 26, 2019

Trump says N. Korea hasn't tested missiles other than 'smaller ones'

US President Donald Trump said Thursday that North Korea hasn't tested missiles other than "smaller ones," in an apparent attempt to keep dialogue with the North alive despite its recent test-firing of short-range ballistic missiles.Trump made the remark in an interview with Fox News a day after the North fired two short-range ballistic missiles, insisting that he gets along "very well" with North Korean leader Kim Jong-un."They haven't done nuclear testing. They really

North KoreaJuly 26, 2019

[Around the Hotels] Packages and promotions

Caribbean summer at Novotel Dongdaemun Novotel Ambassador Seoul Dongdaemun Hotel & Residence’s rooftop bar Gourmet Bar presents the Summer in Caribbean promotion featuring rum-based cocktails. Three cocktails are being offered at 23,000 won each: mojito, pina colada and Cuba libre. They can be paired with Cuban snacks, from sandwich Cubano to beef quesadilla to a Cuban platter, priced between 25,000 to 38,000 won.For more information or reservations, call Gourmet Bar at (02) 3425-8102.

FoodJuly 26, 2019

[Travel Bits] Festivals, sights across Korea

1. Everland Summer Water Fun Held annually since 2005, Everland’s summer festival is back with a variety of programs, such as water shows, light shows and other fun activities. It is open to visitors of all ages.For more information in Korean, English, Chinese and Japanese, visit www.everland.com.2. Hangang Summer Festival The Hangang Summer Festival, also called the Hangang Mongttang Festival, is a large-scale riverside cultural event.It consists of about 80 programs, including water leis

TravelJuly 26, 2019

Imported commercial car sales plunge 31% in June

Sales of imported commercial vehicles in South Korea plunged 31 percent last month from a year earlier as demand fell further amid an economic slowdown, a trade association said Friday.The number of newly registered imported commercial vehicles fell to 277 units in June from 399 the previous year, according to the Korea Automobile Importers and Distributors Association.In the January-June period, imported commercial car sales declined 14 percent to 2,024 autos from 2,364 in the same period of 20

IndustryJuly 26, 2019

NK's new type of short-range missiles won't affect allies' defense posture: CFC

The new type of short-range missiles North Korea recently tested were not a threat aimed at South Korea or the United States, and they do not affect their joint defense posture, the Combined Forces Command said Friday.On Thursday, North Korea fired two short-range missiles into the East Sea from near the eastern coastal town of Wonsan, according to Seoul's Joint Chiefs of Staff. It later said they were believed to be "a new kind of short-range ballistic missile," which showed a similar

North KoreaJuly 26, 2019