Seoul shares forecast to remain in tight range next week

South Korean shares are expected to remain in a tight range next week as investors take to the sidelines ahead of the release of key economic data and earnings reports from major players such as Hyundai Motor, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,094.36 points on Friday, slightly up from 2,086.66 points a week earlier.The index started weak on Monday as investors took to the sidelines over an escalating trade row with Japan. The Seoul-Tokyo t

MarketJuly 20, 2019

Court rejects arrest warrant for Samsung BioLogics CEO

A Seoul court on Saturday again rejected an arrest warrant for the head of Samsung BioLogics Co., who is under suspicion of orchestrating accounting fraud.The Seoul Central District Court said "there is room for dispute" over Samsung BioLogics CEO Kim Tae-han's alleged role in pushing the company to intentionally violate the country's accounting rules by inflating the value of its subsidiary, Samsung Bioepis, ahead of BioLogics' 2016 initial public offering. He is also accused of embez

Social AffairsJuly 20, 2019

Trump says ready to help resolve Korea-Japan dispute

WASHINGTON (AFP) - US President Donald Trump said Friday he remained at the ready to help South Korea and Japan solve their lingering dispute over World War II-era forced labor that has blighted their trade ties.After South Korea's high court ordered Japanese firms that used forced labor to compensate victims, Tokyo in early July restricted exports of chemicals vital to Seoul's world-leading chip and smartphone industry in an escalation of their decades-old row.South Korean President Moon Jae-in

Foreign AffairsJuly 20, 2019

Fate of S. Korea-Japan military pact in doubt amid escalating export row

A rancorous diplomatic spat between South Korea and Japan is casting doubts over the fate of a military intelligence-sharing pact seen as a rare symbol of their trust and a key platform for trilateral security cooperation involving the United States.The tussle that started from a simmering row over Japan's wartime forced labor has been escalating into the economic domain with Tokyo's July 4 measure to tighten restrictions on exports to South Korea of key industrial materials. It is now fear

Foreign AffairsJuly 19, 2019

Cheong Wa Dae says Japan violating int'l law, ponders ‘all options’

The office of President Moon Jae-in accused Japan on Friday of breaching international law with unilateral export restrictions against South Korea.Kim Hyun-chong, deputy chief of Cheong Wa Dae’s national security office, was countering a statement by Japanese Foreign Minister Taro Kono that Seoul is not abiding by a 1965 bilateral treaty in violation of international law. Japan‘s claim is “incorrect,” Kim told reporters. He pointed out that South Korea’s Supreme Cou

Foreign AffairsJuly 19, 2019

Foreign Ministry hits back at Japan’s claim on wartime labor dispute, urges to face up to history

South Korea’s Foreign Ministry hit back Friday at Japan’s claim that South Korea was violating international law in the wartime forced labor issue and urged it to face up to history. “The South Korean government cannot agree with the Japanese government’s unilateral and arbitrary claims regarding our court’s ruling and jurisdiction, and its arbitration proposal to resolve the dispute. We also do not have to be bound to (Japan’s) demands,” a ministry offi

Foreign AffairsJuly 19, 2019

Government eyeing increased workweek for localization of materials

The government said Friday that it is considering allowing selected people to work more than 52 hours per week for tests that are part of localization of key industrial materials.Last year, South Korea cut the maximum weekly working hours to 52 from the previous 68 to help people strike a balance between work and life.The government said workers in the sectors affected by Japan's export restrictions could be subject to the temporary exception. Since July 4, Japan tightened regulations on exports

IndustryJuly 19, 2019

Linkin Park’s Joe Hahn shares epiphany through photo exhibition in Korea

Joe Hahn of US rock band Linkin Park is holding a photo exhibition titled “Carry On” in Korea, in which he will be showcasing memorable moments.“Carry On” is a collection of photos that Hahn took during the band’s most recent world tour “One More Light” in 2017. Around 70 photos capture the moments that band members connect with fans on stage.  Prior to the official exhibition, the Korean-American musician held a pop-up event on Thursday at culture

PeopleJuly 19, 2019

Angolan family seeks constitutional review of refugee application rejection

An Angolan family that has been stranded for seven months in Incheon Airport’s transit zone will file for a petition with the high court to see whether the government’s decision to deny them the chance to make a refugee application is constitutional, their lawyer said Friday.  The immigration office in January denied the entry of Nkuka Lulendo, his wife and four children aged under 10 into the country on grounds that the Angolans had “no clear reason” to seek asylum.

Social AffairsJuly 19, 2019

Moon mentions responsibility for cases of lax military discipline

President Moon Jae-in said Friday he feels responsible for recent cases of lax military discipline and ordered his defense minister and military chief to take stern countermeasures."The people are concerned about the military's discipline and security posture due to several recent incidents. As the commander-in-chief of the armed forces, I feel responsible," Moon said in a lunch meeting with retired military leaders at Cheong Wa Dae. The "several recent incidents" mentioned b

DefenseJuly 19, 2019

Korean Air opens Cloud Command Center

South Korean full-service carrier Korean Air said Friday that it has opened the Cloud Command Center, which can manage and control all its server data, networks and security around the clock.　 According to the air carrier, this is the first time a Korean full-service carrier will operate its own IT system cloud. It is also the first time a top Korean conglomerates has adopted such a system. 　In November last year, Korean Air clinched a deal with LG CNS and Amazon Web Service to transfer its data

IndustryJuly 19, 2019

Parties fail to reach deal on June plenary meeting

Rival parties failed to reach a deal Friday to discuss conditions for a plenary meeting, effectively scuttling the passage of an extra budget bill during the June extraordinary parliamentary session.Friday is the final day of the extra session, but the National Assembly was unable to pass the budget bill and other key proposals amid heightened partisan tensions over a push by the opposition to get President Moon Jae-in to dismiss Defense Minister Jeong Kyeong-doo. Rival parties wrangled ove

PoliticsJuly 19, 2019

Free film screenings to be held under Han River bridges

Free film screenings, including renowned film director Bong Joon-ho’s movies, will be held under three bridges across the Han River and a park in Seoul on Saturday evenings.  As part of the annual Han River Under the Bridge Film Festival, 23 movies spanning five themes will be screened free of charge at 8 p.m. on Saturdays from July 20 to Aug. 17, according to the Seoul Metropolitan Government. The four locations are Cheonho Bridge in Gwangnaru; Cheongdam Bridge in Ttukseom; Wonhyo Br

Social AffairsJuly 19, 2019

Wiz Khalifa, Joey Bada$$, Rejjie Snow to hold Seoul concert in September

Hip-hop artists Wiz Khalifa, Joey Bada$$ and Rejjie Snow will hold a joint concert in Seoul in September, local promoters said.The upcoming show will be held Sept. 7 at 7 p.m. at Olympic Park in Songpa-gu, southern Seoul. Tickets range from 99,000 won ($85) to 110,000 won. All three artists have performed in Seoul before, with Wiz Khalifa last visiting the city in 2017, and both Joey Bada$$ and Rejjie Snow visiting Korea to perform last year.Tickets will be made available online via Interpark on

PerformanceJuly 19, 2019

Man dies after setting fire to van in front of Japanese Embassy

The man who set fire to a vehicle outside the Japanese Embassy in Seoul died from wounds sustained in the incident, police said Friday. The man, whose identity has not been disclosed, set fire to a van and himself in front of the Japanese Embassy in central Seoul at around 3:20 a.m. Friday.According to police and fire authorities, the man stopped his car on the sidewalk outside the entrance of the embassy building, and set fire to the inside of the vehicle. Flammable sub

Social AffairsJuly 19, 2019

[Newsmaker] Korea's southern regions on alert for typhoon

South Korea was on high alert Friday for the arrival of a typhoon that is forecast to churn through southern parts of the country with heavy rain and strong winds this weekend.Jeju Island and other southern provinces, already hit by this week's seasonal downpours, issued heavy rain and high seas alerts for many areas of the regions, as Typhoon Danas is expected to make landfall on Saturday morning. The season's fifth typhoon is likely to unleash up to 50 millimeters of rain per hour through

Social AffairsJuly 19, 2019

Japan calls South Korea's rejection of arbitration offer 'very regrettable'

Japan called in South Korea's ambassador to the country and filed a protest on Friday after Seoul rejected its call for an arbitration panel on wartime forced labor, with the escalating row showing signs of spreading to the security realm.Thursday was the deadline Tokyo set for Seoul to respond to its June 19 request to form a panel consisting of three third-country members. Seoul rejected the demand, saying the issue should be resolved through diplomatic talks, rather than a dispute settlement

InternationalJuly 19, 2019

Gulf tensions rise as US shoots down Iranian drone

WASHINGTON (AFP) -- Tensions in the Gulf region mounted Thursday as US President Donald Trump said an American naval vessel shot down an Iranian drone that threatened the ship as it was entering the Strait of Hormuz. It was the first US military engagement with Iran following a series of increasingly serious incidents.Trump announced that the USS Boxer, an amphibious assault ship, "took defensive action" against the Iranian drone as it was "threatening the safety of the ship and t

World NewsJuly 19, 2019

[Herald Interview] Yuji Hosaka on why Korea, Japan still spar over bygones

It’s summer break at Sejong University in Seoul, but professor Yuji Hosaka is swamped with work. A go-to expert on South Korea-Japan relations, he is bombarded with requests for media interviews and guest lectures as the two neighbors are embroiled in their worst dispute in years. Seeing no easy resolution to the current standoff, which was set off earlier this month by Japan’s decision to impose export restrictions that will seriously impact Korean computer chipmakers, Hosaka w

Foreign AffairsJuly 19, 2019

[Weekender] Palaces, fortress and historic sites at night

Seoul’s royal palaces are beautiful by day but they are even more stunning by night.  On top of the beauty of centuries-old architecture majestically illuminated in darkness, the serene atmosphere in contrast to the modern skyscrapers beyond the palace walls offers a surreal experience. Nighttime visits are only allowed on selected dates and for a limited number of people at some of Seoul’s five palaces from the Joseon era (1392-1910).Gyeongbokgung, the most popular of the five,

TravelJuly 19, 2019