[James Stavridis] What Iran will do next, and how to stop it

Predictably, Iran is reacting badly to the announcement that Europe is planning to send a multinational naval force to protect merchant ships passing through the Strait of Hormuz. “We heard that they intend to send a European fleet to the Persian Gulf which naturally carries a hostile message, is provocative and will increase tensions,” said an Iranian government spokesman last week.In combination, the Europeans’ welcome decision to increase the warship count and the Iranian re

ViewpointsAug. 5, 2019

[Andy Mukherjee] Why ordinary Singaporeans are spending faster than the rich

Singapore is Asia’s Monte Carlo: a playground for the wealthy. The city-state has two casinos, an annual Formula One race and the third-highest concentration of ultra-rich individuals after Monaco and Geneva. It’s home not just to the “Crazy Rich Asians” caricatured in the eponymous movie, but also, increasingly, Brazilian and British billionaires.Even the affluent in recently turbulent Hong Kong are beginning to find the rival financial center a safer option for their mo

ViewpointsAug. 5, 2019

K-pop festival in Busan to hold audition for wannabe-stars

The annual Busan One Asia Festival will hold an audition for future K-pop stars, the city officials said Monday.According to Busan Metropolitan Government, this year’s festival will feature “Music Label on BOF,” an event that will provide a stage for the next generation of entertainers in the music industry. It is being co-hosted and co-organized with Cube Entertainment.Those wishing to participate can apply from Aug. 5 to Sept. 24 after downloading the form at the festival hom

PerformanceAug. 5, 2019

KRX halts trading on Kosdaq as it breaches 600 points

South Korea’s secondary bourse Kosdaq sank below the psychologically important 600-point threshold for the first time in 17 months on Monday, triggering the stock exchange to temporarily halt trading as investor sentiment plummeted due to the escalating trade spat between Seoul and Tokyo. The Korean won also traded at a three-year low against the US dollar, breaking its own significant 1,200-won mark. It closed at 1,215.30 won after hitting 1218.30 won at 10:40 a.m., marking its lowest lev

MarketAug. 5, 2019

S. Korea vows unfaltering support for domestic production of key materials

The government on Monday announced a plan to support the domestic production of 100 key manufacturing materials, seeking to boost the competitiveness of the local industries in the wake of Japan’s recent economic retaliation.It also vowed to inject 7.8 trillion won ($6.4 billion) into research and development as part of its mid and long-term road map to reduce the industrial dependence on Japan and create a stable supply chain by 2024. “(The government) will select and invest in 100

EconomyAug. 5, 2019

S. Korea, US kick off combined military exercise despite NK warnings

South Korea and the United States began a joint military exercise as scheduled Monday, sources said, even though North Korea has strongly complained against the maneuvers and rattled its sabers with a series of missile launches.The "crisis management staff training" kicked off earlier in the day as a preliminary session in the runup to the command post exercise (CPX) aimed at strengthening the allies' combined posture and capabilities to cope with contingencies on the Korean Peninsula,

DefenseAug. 5, 2019

Cellist Yang Sung-won’s trio to go on Korean tour

Trio Owon, consisting of cellist Yang Sung-won, pianist Emmanuel Strosser and violinist Olivier Charlier, will embark on a nationwide tour in November in celebration of its 10th anniversary.The tour will kick off in Andong, North Gyeongsang Province, on Nov. 15, followed by performances in Changwon, South Gyeongsang Province, on Nov. 16; at the Changwon International Chamber Music Festival in Seoul on Nov. 18; and Yeosu, South Jeolla Province, on Nov. 22. The final concert will be held Nov. 24 i

PerformanceAug. 5, 2019

[News Focus] More than 10,000 centenarians reside in Seoul metropolitan area

SEJONG -- The population of South Korea increased by less than 1.2 percent over the past five years from 51.25 million in July 2014 to 51.84 million in July 2019, amid the record-low birthrates.According to the Ministry of Interior and Safety, the number of Koreans increased by only 595,000 over the five-year period. This indicates a growth of less than 10,000 a month on average.Apart from the rapid reduction of newborns and those aged under 15, the working population aged between 15 and 64 has

Social AffairsAug. 5, 2019

Moon says government must aim to overtake Japan’s economy

President Moon Jae-in on Monday stressed the need to seek economic growth and improve inter-Korean relations in overcoming trade curbing measures imposed by Japan. Speaking at a weekly meeting with senior aides, Moon said that the government must look beyond responding to Japan’s measures to laying the foundation for overtaking Japan’s economy, and highlighted the importance of what he called a “peace economy.”“Extraordinary determination and bigger perspective to o

PoliticsAug. 5, 2019

[Herald Interview] Whynot Media CEO talks about origin, appeal of web dramas

The rise of YouTube in Korea poses a dilemma for content houses.The platform lowers the entry barrier for producers, spurring competition and interest, but also allows hobbyists to vie with professional productions."We are living in an era where a 9-year-old kid can generate and distribute online content and make a business out of it,” Lee Min-seok, co-founder and CEO of web content production startup Whynot Media, said in an interview with The Investor.“The question is what con

TechnologyAug. 5, 2019

[Newsmaker] Typhoon Francisco to hit Korea on Tuesday afternoon

Typhoon Francisco, the season’s eighth typhoon, will hit Korea from Tuesday afternoon through Wednesday, with heavy rains expected across the country, the weather agency said Monday.The typhoon was moving northwest at a speed of 24 kilometers per hour from about 390 km east of Kagoshima, Japan, as of 3 p.m. Monday. It is expected to land on the country’s south coast between Tuesday night and Wednesday morning, according to the Korea Meteorological Administration.Francisco is expected

Social AffairsAug. 5, 2019

KAIST launches technical advisory group for SMEs amid Japan’s trade curbs

Korea Advanced Institute of Science and Technology, one of the nation’s leading research universities, launched an advisory board consisting of its technicians to support companies amid trade tension with Japan.KAIST Advisors on Materials & Parts officially kicked off Monday, following Japan’s decision to remove South Korea from its whitelist of preferred trade partners last week. The advisory group consists of more than 100 incumbent and honorary professors of the institute

TechnologyAug. 5, 2019

Kang Daniel, Jihyo of Twice dating, agencies confirm

K-pop singers Kang Daniel and Jihyo of girl group Twice are in a romantic relationship, their respective agencies confirmed Monday. “It has been confirmed that the two are dating with good feelings toward each other,” Kang’s Konnect Entertainment and Twice’s JYP Entertainment said.  Earlier in the day local media outlet Dispatch broke the news, saying the two K-pop stars had started dating earlier this year. The publication also revealed photos of Jihyo arriving at K

PerformanceAug. 5, 2019

Sales of Japanese imported vehicles dip in Korea amid trade feud

Sales of imported cars from Japan fell by double digits in July, amid an escalating trade feud between Korea and Japan and a subsequent Korean boycott of Japanese goods. According to data released Monday by the Korea Automobile Importers & Distributors Association, the number of newly registered cars from Japanese carmakers dropped 17.2 percent to 2,674 units in July, down from 3,229 units registered the same time last year.Compared with 3,946 units registered in June, the figure was also do

MobilityAug. 5, 2019

Bourse operator halts program trading as Kosdaq plunges

Program trading of shares listed on South Korea's secondary Kosdaq market was briefly halted Monday as the market's index plunged over global trade disputes, the bourse's operator said.  Program trading was halted for five minutes starting at 2:09 p.m. after the Kosdaq index slipped more than 6 percent, the Korea Exchange said in a statement. It was the first time since June 24, 2016, that the "sidecar" was activated according to exchange rules.South Korea's currency and stocks lo

MarketAug. 5, 2019

No discussions on US missile deployment in S. Korea: ministry

South Korea has had no discussions with the United States on the possible deployment of US intermediate-range missiles on its soil, nor does it plan to do so, the defense ministry said Monday.Some media outlets have speculated that South Korea could be one of candidate sites for US missiles, after Washington pledged to deploy them in Asia and elsewhere to maintain deterrence after withdrawing from an anti-missile treaty with Russia."Our government did not have any official discussions with

DefenseAug. 5, 2019

Food fight continues over ruling party chairman’s lunch at Japanese restaurant

Political parties continued their quarrel over the weekend as to whether it was appropriate for Lee Hae-chan, the chairman of the ruling Democratic Party of Korea, to visit a Japanese restaurant for lunch on Friday, the day Japan excluded South Korea from its whitelist of trusted trade partners.The main opposition Liberty Korea Party -- grappling to appease public backlash sparked by its lawmaker Rep. Kim Jae-won appearing at the National Assembly under the influence of alcohol last week -- houn

PoliticsAug. 5, 2019

STX's investment deal

STX Corp. CEO Park Sang-jun (right) shakes hands with KA Group chairman Abdulghani during a signing ceremony for the agreement on the group's CB investment of $5.5 million in the Korean corporation in Seoul on Friday. KA Group, as the strategic partner of STX, has been supporting local business in the Middle East including Iraq. Business cooperation between two companies will be expanded to Europe and Asia as well as the middle East due to this investment partnership, STX officials said.&nb

WorldAug. 5, 2019

1 in 4 students, new graduates studying for civil service exam

One in 4 university students and new graduates in South Korea are preparing to take the state-run civil service exams mostly for job security, a survey showed Monday.  In a poll of 1,022 university students and those who graduated earlier this year by local job portals Job Korea and Albamon, 24.7 percent of the respondents said they were preparing to sit for the state exams. Nearly 60 percent of those surveyed said they were willing to prepare for the civil service exam. Only 15.7 percent s

Social AffairsAug. 5, 2019