Japan’s export curbs to have negative implications globally: AmCham

Amid the ongoing tensions following export curbs by Japan on hi-tech exports to South Korea, the American Chamber of Commerce in Korea on Thursday expressed concerns that it could have a negative impact on global trade.“AmCham is committed to free and fair trade worldwide. The tightening of export controls on critical materials to Korea will have damaging effects on bilateral trade and also have negative implications globally,” the organization said in a statement. It added that

IndustryJuly 25, 2019

One of the missiles North Korea fired was new design - S. Korea official

At least one of the two missiles North Korea test fired on Thursday was a newly developed design and flew some 690 km (428 miles), an official at South Korea's defence ministry told Reuters.The other missile travelled about 430 km (267 miles) before coming down in the sea off North Korea's east coast, the official said, adding that a detailed analysis was being done to verify if the two missiles were the same model. (Reuters)

North KoreaJuly 25, 2019

World Toilet Association earns UN consultative status

The World Toilet Association has been granted special consultative status by the United Nations Economic and Social Council for its expertise in health and hygiene. This allows the WTA, currently led by Suwon Mayor Yeom Tae-young, to take part in meetings and events held by the UN to present ideas, build an international network and engage in lobbying. The WTA applied for special consultative status with the council in May last year and received a recommendation from its Committee on Nongovernme

Social AffairsJuly 25, 2019

Moon calls for 'fundamental change' of state prosecution

President Moon Jae-in stressed Thursday that the South Korean people want a "fundamental change" of the state prosecution accused of having been often politically swayed, as the new chief prosecutor began his two-year tenure."(You) are assuming a very important post at a very important time," Moon told Yoon Seok-youl after presenting him a letter of appointment at Cheong Wa Dae.Yoon is a veteran prosecutor widely regarded as reform-minded and unyielding to outside pressure. H

PoliticsJuly 25, 2019

NCSoft marches onto global stage with AI tech

NCSoft, a pioneer in artificial intelligence research among Korean game companies, is shifting beyond the tech applicable to games to cover various original AI tech for cross-genre industries. Under the drive of CEO Kim Taek-jin and President Yoon Song-yee, the company put together an AI research team as early as 2011. Eight years forward, the company now has around 150 AI research-focused staff. NCSoft touts that its AI know-how is of international standards -- CEO Kim is quoted to have exchang

IndustryJuly 25, 2019

Korea to join RCEP talks in China this week

South Korea is slated to participate in the 27th official negotiations this week to discuss the implementation of an Asia-Pacific mega trade deal possibly this year. The upcoming talks for a Regional Comprehensive Economic Partnership will be held in Zhengzhou, China, from Friday. RCEP is, in essence, a massive regional trade deal between the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -- Korea, China, Japan, Indi

IndustryJuly 25, 2019

Over 6 in 10 Koreans taking part in boycott of Japanese goods: poll

More than 6 in 10 South Koreans are taking part in a boycott of Japanese products amid growing public resentment over Tokyo's export restrictions, a poll showed Thursday.In the poll of 504 adults nationwide conducted Wednesday by pollster Realmeter, 62.8 percent said they were participating in the anti-Japanese boycott, marking steady rises from two previous surveys. The boycott participation rate was 48 percent in Realmeter's first such poll on July 10 and rose to 54.6 percent in a second surve

Social AffairsJuly 25, 2019

NSC to discuss N. Korean missile launch: Cheong Wa Dae

South Korea's presidential National Security Council will soon discuss the issue of North Korea's latest missile firing, Cheong Wa Dae said Thursday.Immediately after the North launched two short-range missiles early in the morning, President Moon Jae-in received a briefing from the NSC, according to Han Jun-woo, Cheong Wa Dae's deputy spokesman.Cheong Wa Dae is thoroughly handling the situation through the "crisis management center" of the national security office, he said.  The

DefenseJuly 25, 2019

Samsung officially announces launch of Galaxy Fold in September

Samsung Electronics said Thursday it will release its first foldable smartphone Galaxy Fold in September, three months after postponing the launch due to display defects. To fix the problems, Samsung said the top protective layer of the foldable display has been extended beyond the bezel, making it apparent that it is an integral part of the display structure and not meant to be removed.  The Galaxy Fold also features additional reinforcements to better protect the device from external part

TechnologyJuly 25, 2019

US, N. Korea in continued contact over working-level talks: envoy

The United States and North Korea have been in continued contact to resume working-level talks on dismantling the regime's nuclear weapons program, with Washington still waiting for Pyongyang's response on the time and venue, South Korea's ambassador to the US said Wednesday.The US and North Korea had been expected to hold working-level negotiations by mid-July in line with an agreement between US President Donald Trump and North Korean leader Kim Jong-un during their impromptu meeting at the in

North KoreaJuly 25, 2019

North Korea fires 2 short-range missiles into East Sea: JCS

North Korea fired two short-range missiles into the East Sea from Hodo Peninsula, northeast of Wonsan, Seoul’s military said Thursday. According to the Joint Chiefs of Staff, North Korea launched two projectiles from the peninsula in South Hamgyong Province at 5:34 a.m. and 5:57 a.m.The first missile traveled about 430 kilometers, and the second flew about 690 kilometers, the JCS said, adding that both reached an altitude of between 50 to 60 kilometers. “The joint evaluation of South

DefenseJuly 25, 2019

S. Korea nationalizes 90 b won worth of colonial-era Japanese property

South Korea has completed the nationalization of land worth an estimated 90 billion won ($76.40 million) across the country that should have reverted to the state but was still registered under Japanese names following Japan's 1910-45 colonization of Korea, government data showed Thursday.The data, submitted to Kang Byung-won, a lawmaker of the ruling Democratic Party, by the Public Procurement Service, showed the service finished nationalizing 2.43 million square meters of property worth an est

PoliticsJuly 25, 2019

Naver's Q2 net dips 90% on increased spending

South Korea's top internet portal operator Naver Corp. said Thursday that its net profit dipped 90.1 percent in the second quarter from a year earlier largely due to increased spending on new businesses.Net profit reached 27.8 billion won ($23.6 million) in the April-June period, compared with a profit of 282 billion won a year earlier, the company said in a press release. Operating income reached 128.3 billion won during the cited period, also marking a decrease of 48.8 percent from the year be

IndustryJuly 25, 2019

At WTO, South Korea says Japan using trade as political tool

At the World Trade Organization General Council in Geneva, South Korea strongly urged Japan to retract export curbs, saying Tokyo is using trade as a political tool and disrupting trade for political purposes, officials said Thursday. At the general council, which is the WTO’s highest-level decision-making body, the trade dispute between the two nations was discussed from 12:40 p.m. to 15:30 p.m. (local time) Wednesday. Kim Seung-ho, deputy minister for multilateral and legal affairs, and

IndustryJuly 25, 2019

Pentagon chief says Russia crossed into S. Korean airspace

US Defense Secretary Mark Esper said Wednesday that a Russian warplane crossed into South Korean airspace this week, despite Japan's claims that the incursion violated its own airspace.On Tuesday, a Russian A-50 early warning and control aircraft trespassed twice into South Korean airspace near the East Sea islets of Dokdo, prompting warning shots from the South's Air Force. South Korea said it was the first such violation by a foreign military plane.Japan, which lays claim to the islets, also d

DefenseJuly 25, 2019

Auction to sell Asiana Airlines begins

Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, on Thursday began the process of selling its airline unit with the aim to complete it this year. The group put its construction affiliate Kumho Industrial Co.'s entire 33.5 percent stake in Asiana Airlines up for sale to secure liquidity as the group faces a cash crunch. In a public bidding notice, Credit Suisse, the deal's adviser, said it will send a prospectus to potential investors who have disclosed their intention to

IndustryJuly 25, 2019

S. Korea, Russia to hold working-level talks over airspace intrusion

South Korea and Russia held a working-level meeting in Seoul on Thursday over a Russian warplane's recent violation of Korean airspace, the defense ministry here said, amid conflicting accounts of the incident from the two countries.On Tuesday, the Russian A-50 early-warning jet intruded into Korean airspace twice in the East Sea near its easternmost islets of Dokdo, prompting the South Korean Air Force to fire hundreds of warning shots, according to the Joint Chiefs of Staff. The intrusion came

DefenseJuly 25, 2019

Korean economy bounces back in Q2, but outlook still murky

The South Korean economy is estimated to have expanded 1.1 percent in the second quarter, a dramatic turnaround from an unexpected contraction the previous quarter, partly afforded by increased government spending that offset a skid in private spending, central bank data showed Thursday.The country's gross domestic product expanded an estimated 1.1 percent from three months earlier in the April-June period, after backtracking 0.4 percent in the previous quarter, according to advance data from th

EconomyJuly 25, 2019

S. Korean lawmakers arrive in US to help resolve Seoul-Tokyo row

A bipartisan group of South Korean lawmakers arrived in Washington on Wednesday on a visit expected to focus on efforts to resolve a growing trade dispute between Seoul and Tokyo.Five members of the delegation arrived first, with the other two scheduled to arrive Thursday. The group is led by Rep. Chung Sye-kyun of the ruling Democratic Party, a former parliamentary speaker.The main purpose of the visit is to attend a biannual meeting with US and Japanese lawmakers on Friday. But noting the timi

Foreign AffairsJuly 25, 2019

US asked partner nations to join military coalition for Strait of Hormuz: envoy

The United States asked its partner nations last week, including South Korea, to join a US-led military coalition to protect strategically vital waters off Iran, Seoul's top envoy to Washington said Wednesday.In a briefing with reporters, South Korean Ambassador to the US Cho Yoon-je said the request was made Friday during a State Department-hosted briefing with the Washington-based diplomatic corps."The US explained its plan for ensuring the safety of navigation in the Strait of Hormuz, an

Foreign AffairsJuly 25, 2019