Moon names new vice finance minister, deputy chief of spy agency

President Moon Jae-in appointed a new vice finance minister and a deputy head of the state intelligence agency Wednesday as part of his work to install fresh faces into key posts in his third year in office. Kim Yong-beom, formerly a No. 2 official at the Financial Services Commission (FSC), was tapped as vice minister of economy and finance. Kim is known for expertise in the financial sector, having served at the finance ministry and the FSC for decades.Moon picked Choi Yong-hwan, ambassador to

PoliticsAug. 14, 2019

[Anniversary Special] From Sony to Samsung, how tech leadership migrated from Japan to Korea

In the 1980s and 1990s, commuters on subways or buses in South Korea proudly held a Sony Walkman, the world’s first portable cassette player, in their hands. But today, it has been replaced by large-screen smartphones -- mostly a Samsung Galaxy or iPhone model.It’s a stark change from the years between 1979 -- when the first Sony Walkman was officially launched -- and 2007 when the first iPhone was released, and 2009 when Samsung announced its first Galaxy smartphone. It is no exagge

TechnologyAug. 14, 2019

Incheon Airport marks accumulated 700m passengers

Incheon International Airport Corp. said Wednesday that the airport’s accumulated number of passengers has surpassed 700 million. To mark the milestone, the operator of South Korea’s main gateway held various events, including giving a round-trip ticket and a Turtle Ship made of pure gold to the 700 millionth passenger who arrived at Incheon Airport.  IIAC said the achievement of marking an accumulated 700 million passengers since its opening in March 2001 is meaningful, as

IndustryAug. 14, 2019

Despite apology, more Korean retailers suspend sales of DHC products

More South Korean retailers are joining the industry-wide boycott of Japanese cosmetics brand DHC after the company’s beauty TV channel aired offensive content allegedly mocking Koreans and the country’s history. According to the health and beauty industry, retail conglomerate Lotte Group’s online unit Lotte.com has decided to temporarily suspend sales of DHC products from Tuesday. Another retail giant Shinsegae stopped selling DHC cosmetics on its e-commerce platform SSG.

IndustryAug. 14, 2019

Korean firms feel cheated by asymmetric gameplay with China

As South Korea continues to be focused on the escalating trade conflict with Japan that is threatening the tech companies, a different kind of conflict is haunting the game industry here.From early 2017, not a single license has been issued for new games from Korea in China -- whose gaming market is estimated to be worth around 37 billion won ($30 billion).NCSoft has been waiting for Chinese approval of Lineage Red Knights since January 2017. Netmarble’s mobile games Lineage 2 Revolution a

IndustryAug. 14, 2019

Japan names Koji Tomita new ambassador to S. Korea: sources

Japan has named Ambassador Koji Tomita with several years of diplomatic experience in South Korea as its new top envoy in Seoul, informed sources said Wednesday. Late last month, Tokyo made a request for Seoul's consent to the 62-year-old diplomat's nomination in an "agrement" -- a diplomatic procedure required before his official appointment, the sources said.If appointed, Tomita will replace Ambassador Yasumasa Nagamine, who is set to wrap up his three-year stint in South Korea next

Foreign AffairsAug. 14, 2019

[Anniversary Special] ‘Japan’s export curbs hint at changing Seoul-Tokyo trade model’

Japan’s decision to remove South Korea from its list of trusted export partners in late July brought the relations between the two neighboring countries to a new low. Tensions stemming from the bilateral trade row served as a stark reminder that old wounds run deep and both sides will always have to deal with their complicated histories marked by the 1910-45 Japanese colonial rule of Korea. But according to local experts, the latest dispute is also a sign of changing trade dynamics between

EconomyAug. 14, 2019

Korea remembers WWII sex slavery survivors on second memorial day

Some 300 government officials, activists, historians and citizens came together Wednesday for commemorating the second memorial day for World War II sexual slavery survivors at the Kim Koo Museum in Yongsan, Seoul.The government last year designated Aug. 14 Comfort Women Memorial Day. On that day in 1991, Kim Hak-soon, a South Korean victim of sex slavery, came forward and gave testimony on Japan’s wartime crimes.   Gender Equality Minister Jin Sun-mee said at the Wednesday event

Social AffairsAug. 14, 2019

Japan beats Korea in most biz sectors except chips, smartphones: report

In light of the aggravating trade dispute between South Korea and Japan, a report showed Wednesday that significant revenue gaps remain in most industrial sectors between the two countries. According to Seoul-based market research firm CEO Score’s survey on highest-grossing companies across 15 sectors as of last year, the revenue of Korea’s top three companies was only half of that of their Japanese competitors. In the business categories ranging from semiconductors to telecommunicat

IndustryAug. 14, 2019

LIG Nex1 chief wins industrial merit award

South Korean defense and aerospace company LIG Nex1 chief Kim Ji-chan received the government’s top award for his contribution to the country’s defense industry development, the company said Wednesday. During a ceremony held at the Defense Acquisition Program Administration, Kim was awarded the Order of Industrial Service Merit, also known as “Silver Tower,” the country’s second-highest decoration for a businessperson. He was recognized for his decades-long efforts

IndustryAug. 14, 2019

[Anniversary Special] Searching for lost land: S. Korea seeks to retrieve property seized by Japan

When Korea was under Japan’s colonial rule from 1910 to 1945, many Koreans lost their houses and land to the Japanese. A significant portion of Korean property was forcefully taken by the Japanese military and sold cheaply to its residents.The fledging Korean government, established in 1948, pledged to retrieve the property from the Japanese as promptly as possible. However, some has still not been returned to the government. With Korea ratcheting up pressure on Japan amid an escalating tr

IndustryAug. 14, 2019

Seoul eyes massive spending for infrastructure to revitalize economy

Seoul eyes massive spending for infrastructure to revitalize economySouth Korea's finance minister said Wednesday the government plans to spend a whopping 16.5 trillion won ($13.5 billion) on social infrastructure projects this year, in a bid to revitalize the economy, which has been losing steam due to falling exports. Government infrastructure spending over the July-Dec. period is to include 5.1 trillion won on public housing projects and 5.2 trillion won on railroads, according to Hong Nam-ki

EconomyAug. 14, 2019

Seoul City govt blamed for fish mutations in Han River

A group of fishermen from Goyang, Gyeonggi Province, claimed Tuesday that the Seoul Metropolitan Government has been polluting nearby waters by dumping unpurified sewage water into the Han River, leading to fish mutations.The fishermen said that water reclamation centers have been illegally dumping wastewater into the Han River and should take responsibility for the contamination. Foul scent and algal bloom have worsened in the river, especially in the downstream area around the cited facilities

Social AffairsAug. 14, 2019

[Anniversary Special] 21 years after ‘Japanese invasion,’ Korean pop culture stronger than ever

JYP Entertainment said Monday that Twice has received platinum certification in the Japanese market for its fourth and fifth singles, meaning the girl group has sold at least 250,000 copies of every single released in the country.Since South Korea opened its gates to Japanese pop culture in 1998, the two countries have exchanged cultural content. But over the past years, South Korea has been more successful in selling its content to Japan than vice versa.According to the Korea Creative Content A

CultureAug. 14, 2019

[Herald Interview] Park Seung-gun still pushing the envelope

Pushbutton will grace the runway in London once again, having established itself as an internationally sought-after fashion brand based in Seoul. Named after a line in Madonna’s catchy 2003 dance hit “Hollywood” -- “Push the button, don’t push the button” -- the label is led by creative director and founder Park Seung-gun. It will present a new collection on Sept. 17 at London Fashion Week Spring-Summer 2020.  It is the brand’s third time on the cat

Arts & DesignAug. 14, 2019

[Anniversay Special] ‘Human rights, free trade key to overcoming diplomatic row with Japan’

South Korea should target Japan’s “abandonment” of the universal values of human rights and free trade to resolve their escalating dispute, according to professor of Japanese studies Lee Won-deog. Meanwhile, he said, a tit-for-tat response to its retaliatory export restrictions is not a wise strategy.“Given the asymmetry of their economies, a more effective way of pressing Japan is to take actions that follow the universal values or norms,” Lee, a professor at Kookm

Foreign AffairsAug. 14, 2019

Anti-Abe rallies to sweep Seoul on Liberation Day

Rallies denouncing the Shinzo Abe administration for Tokyo’s economic retaliation against Seoul are set to take place Thursday on Liberation Day, along with events reflecting on the 74th anniversary of Korea’s liberation from Japan’s colonial rule.A movement for joint action to resolve the wartime forced labor and other historical issues with Japan -- set up by some 10 civic groups, including Movement for One Korea and the Center for Historical Truth and Justice -- will begin a

Social AffairsAug. 14, 2019

S. Korea to acquire more anti-missile radars, interceptors to counter NK threats

South Korea plans to add two more ground-based anti-missile early warning radars and build three Aegis-equipped destroyers in the next five years in an effort to better detect and intercept incoming missiles from North Korea, the defense ministry said Wednesday.The plan was one of the key projects that the ministry unveiled in its five-year defense blueprint for 2020-2024 amid heightened concerns about North Korea's missile capabilities in the wake of a series of test-firings of what Pyongyang c

DefenseAug. 14, 2019

S. Korea begins process to remove Japan's trusted trade partner status

South Korea's trade ministry on Wednesday started the process to drop Japan from its list of trusted trading partners, in a tit-for-tat move amid the growing trade row between the two Asian neighbors.Early this week, the South Korean government decided to revamp the categorization of its trading partners into three groups from the current two, placing Tokyo in the in-between group.The ministry said the reclassification of its trade partners will go into effect after gathering public opinion for

IndustryAug. 14, 2019

Ship suspected of carrying coal spotted at N. Korean port: report

A cargo ship suspected of carrying coal has been spotted at a North Korean port, a US broadcaster said Wednesday, raising the possibility of a violation of global sanctions on Pyongyang.The 110-meter-long ship was spotted docked at the North's western port of Nampo along with plenty of black materials nearby in a satellite photo taken Tuesday by the U.S. Earth imaging company Planet Labs, according to Voice of America (VOA). The ship was first seen at the port in a satellite photo taken Saturday

North KoreaAug. 14, 2019