Investors eye leveraged, inverse ETFs amid high market volatility

Investors are flocking to high-risk leveraged and inverse exchange-traded funds in South Korea, resulting in an increase in the daily average trading volume.According to the stock market operator Korea Exchange, the combined daily average trading volume of leveraged and inverse ETFs from July 26 to Thursday amounted to nearly 1.3 trillion won ($1.1 billion). It is 81.3 percent higher compared to the corresponding figure of 701.7 billion won in June.  A leveraged ETF uses financial derivativ

MarketAug. 9, 2019

[Around the Hotels] Packages and promotions

Stylish afternoon tea time at Millennium Seoul HiltonMillennium Seoul Hilton’s Cilantro Deli presents a stylish afternoon tea set consisting of desserts that resemble fashion items.On top of their choice of coffee or tea, customers can enjoy either a blue high-heeled shoe or a pink clutch bag, both made out of chocolate, along with other miniature sweets in the shape of a lipstick, a perfume bottle and other accessories. Also included in the set are “fatcarons,” or thick macaro

FoodAug. 9, 2019

Chocolatier’s new macarons pop with flavor

The macarons crafted by chocolatier Ko Eun-su at Macaron Couture showcase palate-teasing flavor combinations like Gorgonzola and honey or truffle and Pecorino. The shells are supremely thin on the outside, folding at the slightest bit of pressure and melting away on the tongue, while the ganache fillings are nuanced, fragrant and oftentimes complex. These bite-sized desserts represent Ko’s desire to experiment with flavors and to continue a sweet-toothed culinary journey that started eight

FoodAug. 9, 2019

[Weekender] Finding balance on fast and furious water

Trying to stand on ferociously turbulent water is definitely an effective way to get an adrenaline rush. And indoor facilities allow enthusiasts to experience that all year round, amid the growing popularity of surfing here.  “In South Korea, it is hard to surf. Japan blocks the waves, so beaches do not really pick up swells. Given this, indoor surfing can be a nice option,” said Lee Sang-jun, who manages Flow House Yongin, an indoor surfing facility, at the Lotte Premium Outlet

More SportsAug. 9, 2019

[Weekender] Flying above the water

On a heat-soaked afternoon in Seoul, the placid waters of the Han River suddenly burst with energy. A figure mounted on top of what looks like a futuristic water-propelled jet pack performs energetic and acrobatic feats above the water -- just like the Iron Man. This is flyboarding, the latest water sport to hit the Han River in South Korea. Perfect for thrill-loving adventurers, it is fun, exhilarating and, according to pro rider Park Jin-min, safe and easy. “It is a misunderstanding

More SportsAug. 9, 2019

Female SNU professor nominated to head S. Korea’s antitrust watchdog

President Moon Jae-in has nominated Joh Sung-wook, a professor at Seoul National University, to lead South Korea’s antitrust watchdog, the presidential office said Friday. Joh, 55, will replace former head Kim Sang-jo, who is Moon’s chief policy secretary since June. Currently serving as professor at SNU Business School, Joh previously served as a non-executive member of the Financial Services Commission’s Securities & Futures Commission from April 2013 to April this y

IndustryAug. 9, 2019

India's Modi defends powderkeg Kashmir move

NEW DELHI (AFP) -- Indian Prime Minister Narendra Modi said Thursday his powderkeg move to strip the disputed Kashmir region of its autonomy was necessary to stop "terrorism", as Pakistan voiced further outrage and the UN chief urged "maximum restraint."Modi's Hindu-nationalist government imposed direct rule on the Indian held portion of Kashmir on Monday, setting off a new crisis in one of the world's most volatile security flashpoints.Speaking for the first time since the m

World NewsAug. 9, 2019

Fitch maintains S. Korea's rating at 'AA-'; outlook stable

Global credit appraiser Fitch Ratings said Friday that it has reaffirmed its rating on South Korea at "AA-" with a stable rating outlook. "South Korea's AA- rating balances robust external finances, steady macroeconomic performance, and sound fiscal management against evolving geopolitical risks related to North Korea and medium-term structural challenges from aging demographics and low productivity," the ratings agency said in a report posted on its website.South Korea's eco

EconomyAug. 9, 2019

[Newsmaker] Olympic short track champion Lim Hyo-jun banned for 1 year for sexually harassing male teammate

Olympic short track speed skating champion Lim Hyo-jun has been suspended for one year for sexually harassing a male teammate. The Korea Skating Union reached the decision Thursday evening, saying Lim, who won a gold medal in the men's 1,500m at the 2018 PyeongChang Winter Olympics, will be banned from all skating-related activities until Aug. 7, 2020.During training on June 17, Lim pulled down the pants of a younger teammate with female skaters present at Jincheon National Training Center in Ji

More SportsAug. 9, 2019

Major reshuffle in Cabinet as Moon enters latter half of presidency

President Moon Jae-in carried out his first Cabinet reshuffle in five months Friday, nominating four new ministers, four minister-level positions, a vice minister and ambassador to the United States.The reshuffle comes as Moon heads toward the second half of his presidency with next year’s general election looming.Moon kept his top diplomatic and national security officials while reshuffling his ministers of justice, science, agriculture, veterans affairs and gender equality, as well as mi

PoliticsAug. 9, 2019

N. Korea warns Seoul will 'pay dearly' for escalating tensions

North Korea blasted South Korea on Thursday for conducting joint military exercises with the United States and deploying high-tech US fighter jets, warning Seoul will "pay dearly" for escalating tensions on the peninsula."The joint military exercises which have been conducted by the South Korean authorities with outsiders century after century are the root cause escalating tension on the Korean peninsula and blocking the development of the inter-Korean relations," the North's

North KoreaAug. 9, 2019

US defense chief arrives in S. Korea

US Defense Secretary Mark Esper arrived in South Korea on Thursday for talks that are expected to focus on a series of requests Washington has been making to Seoul, including a greater financial contribution to the cost of stationing American troops here.Also expected to be on the agenda for Esper's talks with South Korean Defense Minister Jeong Kyeong-doo are the US initiative to secure the shipping routes in the Strait of Hormuz and Washington's wish to get a military information-sharing pact

DefenseAug. 8, 2019

Police raid company behind Ronaldo saga

Seoul police on Thursday raided a marketing company behind a controversy surrounding football star Cristiano Ronaldo's absence in a recent match.Seoul Suseo Police Station said they raided the office of TheFasta starting around 10 a.m. Thursday. Police are investigating charges of fraud against TheFasta, which organized an exhibition match between Ronaldo's Juventus and a team of K League All-Stars on July 26. On Monday, police placed one unidentified official involved in the controversy on trav

SoccerAug. 8, 2019

NSC members review agenda for upcoming high-level defense talks with US

South Korea's top national security officials on Thursday prepared for defense ministerial talks with the United States to be held this week.The new Pentagon chief, Mark Esper, is scheduled to arrive in Seoul later in the day. He will hold talks with Defense Minister Jeong Kyeong-doo on Friday in which a host of alliance issues, as well as how to deal with North Korea, are expected to be discussed. In the weekly session of the National Security Council standing committee, participants "thor

DefenseAug. 8, 2019

Heat wave warnings issued nationwide

Following Typhoon Francisco's passage over the Korean peninsula, South Korea has again been gripped by scorching heat, with heat wave warnings issued across the country Thursday.The Korea Meteorological Administration said it issued heat wave warnings for Seoul and parts of surrounding Gyeonggi Province as of 2 p.m.  Almost all other parts of South Korea, including Busan, Daegu, Daejeon and Gwangju, have already been put under heat wave warnings, according to the KMA.Heat wave warnings and

Social AffairsAug. 8, 2019

[Weekender] Come fly with me

Even preteens can enjoy thrill of skydiving within air-blasting tunnel It looked like I wasn’t in Kansas anymore. The ferocious funnel of wind swept me off my feet, out of Seoul, and into Maseong-ri, Yongin, Gyeonggi Province, where I sat inside Fly Station Korea, waiting to experience what is called indoor skydiving.Fly Station Korea, just a five-minute drive away from Everland theme park, is the only place in South Korea that offers indoor skydiving programs, operated every day from 10 a

CultureAug. 8, 2019

Food Safety Ministry orders recall of US avocados due to high cadmium levels

The Food and Drug Safety Ministry said Thursday avocados imported from a California-based agricultural producer have been recalled and suspended from sale due to excess amounts of a toxic chemical.The ministry said harmful levels of cadmium had been detected in avocados from Mission Produce, a US farming service specializing in avocados. Some 35,200 kilograms of Mission Produce avocados were imported here via agricultural corporation Ihwawon headquartered in Seoul’s Songpa district.The gov

Social AffairsAug. 8, 2019

[Travel Bits] Festivals, sights across Korea

Gamaek Festival The Gamaek Festival began 2015 with the aim of revitalizing the local economy, securing small business markets, promoting community and contributing to society. Like chimaek, the popular term for fried chicken and beer, gamaek is a portmanteau of two Korean words: “gagae (store)” and “maekju (beer).” It refers to chilling out in the evening with beer at the outdoor tables of small neighborhood pubs or supermarkets. Held in Jeonju, it is open to everyo

TravelAug. 8, 2019

[Box Office] Movies in theaters this week

Exit(Korea)Opened July 31Action, ComedyDirected by Lee Sang-geunYong-nam (Jo Jung-suk) is a young man struggling in the job market with no real marketable skills. At his mother’s 70th birthday party, he runs into Ui-ju (Im Yoon-ah), an old crush from his college rock-climbing club. Then, a terrorist attack in a nearby building forces Yong-nam to act so he can get the family to safety.The Battle: Roar to Victory(Korea)Opened Aug. 7Action, Drama, HistoryDirected by Won Sin-yeonIn Manchuria,

FilmAug. 8, 2019

‘Tazza: One Eyed Jack’ to cap off gambling trilogy with poker

The “Tazza” trilogy, a movie adaptation of the popular gambling comic book series of the same name, will conclude next month with the opening of its third film, “Tazza: One Eyed Jack.”Director Kwon Oh-Kwang and the cast took part in a press conference to promote the film in Seoul on Thursday. Unlike the first two films, which dabbled in the Asian card game hwatu, the third is about poker. The “one-eyed jack” in the title can refer either to the jack of spades

FilmAug. 8, 2019