Lotte chief visits Tokyo amid anti-Japanese sentiments in Korea

The chief of South Korean retail giant Lotte Group -- with deep family roots in Japan -- is attempting to douse the flames following a diplomatic row between Tokyo and Seoul early this month that will hamper operations of domestic conglomerates.Lotte Chairman Shin Dong-bin has embarked on a trip to the neighboring country amid the spat over Japan’s decision to restrict shipments of key materials used by Korean chipmakers and display makers, according to the firm. The chairman, along w

IndustryJuly 9, 2019

Half of Korean firms say anti-bullying act ambiguous: survey

With the new anti-office bullying act coming into force next Tuesday, over half of surveyed companies in South Korea said the regulations are ambiguous and that voluntary change within each firm should come before legal measures.According to a poll of 300 Korean firms conducted by the Korea Chamber of Commerce & Industry last week, most large conglomerates said they had made due preparations, while some 20 percent of small and midsized businesses said they were not yet ready. Almost all, or

IndustryJuly 9, 2019

[Herald Review] What’s ahead for ‘Arthdal Chronicles’?

Though the tvN drama series “Arthdal Chronicles” has left viewers with many questions to ponder, one thing is for sure. It hopes do better in the final third of its 18-episode run. Two-thirds of the series has aired so far, leaving six episodes for fans to look forward to. Those episodes will air in September, after the new drama “Hotel Del Luna” finishes its run. The unusual schedule gave rise to rumors that tvN might be thinking of extending the drama for a second seaso

TelevisionJuly 9, 2019

LG Chem CEO vows to make firm global top 5 chemical biz

Shin Hak-cheol, vice chairman and CEO of LG Chem, vowed Tuesday to make the company one of the world’s five biggest chemical companies in the next five years by doubling its revenue by 2024.  “LG Chem will reach 30 trillion won ($25.4 billion) in sales this year for the first time and 59 trillion won by 2024, becoming a global top five company,” Shin said during his first press conference since he took office in February. Shin is the first CEO of LG’s petrochemical a

TechnologyJuly 9, 2019

Kim Jong-un’s sister among 10 most powerful in NK

North Korean leader Kim Jong-un’s sister Yo-jong appears to have become the ninth most powerful person in the country.The seating arrangements at the memorial service marking the 25th anniversary of the death of North Korea’s founder, Kim Il-sung, Monday at Pyongyang Gymnasium showed her current political status.She was seated just four places to the left of her brother, after vice chairmen of the central committee of the ruling Workers’ Party Pak Pongju, Ri Man-gon and Ri Su-y

North KoreaJuly 9, 2019

HHI signs $49m deal with India for nuclear plant engines

Hyundai Heavy Industries said Tuesday it has signed a $49 million deal with Indian firm Powerica to supply emergency generators for nuclear reactors.The generators include 10 units of the 6.3-megawatt HiMsen propulsion system developed by HHI. They will be supplied to Unit 3 and 4 of the Kudankulam nuclear power plant in the southern state of Tamil Nadu, by 2022. The generators help stabilize maintenance of a nuclear reactor by supplying power to a circulating water pump during emergencies.

IndustryJuly 9, 2019

Posco issues ESG bonds worth $500m

Posco said Tuesday it has become the world’s first steelmaker to issue $500 million worth of environmental, social and governance-related bonds.ESG bonds are issued to finance sustainable outcomes within three categories -- environmental friendliness, social responsibility and improvement in governance. Posco has issued ESG bonds including green bonds that finance eco-friendly projects and social bonds that help alleviate social issues such as job creation.“The funds raised from the

IndustryJuly 9, 2019

[Newsmaker] ‘Other men are same’: Korean man accused of beating wife

A Korean man in police custody for assaulting his Vietnamese wife told reporters on Monday that he believes “other men are the same.”“Things began weighing on my mind since (my wife and I) speak different languages, and so we think differently. But I believe other men are the same,” he told the press, adding that he hopes such circumstances are taken into consideration. The 36-year-old suspect, identified only by his surname Kim, made the comments as he was escorted

Social AffairsJuly 9, 2019

Record-high 42 million passengers used airports in first half of 2019

A record-high 42.6 million passengers used Gimpo Airport and 13 other provincial airports in the first half of the year, Korean Airports Corp. data showed Tuesday, mainly due to low-cost carriers’ new international routes. According to KAC, the total number of passengers who used 14 provincial airports -- excluding Incheon Airport -- inched up 4.1 percent compared to the previous year, breaking the previous year’s record of 40.9 million passengers. The airports were located

IndustryJuly 9, 2019

Big Hit, Netmarble team up on new music-streaming platform

Big Hit Entertainment, the mastermind behind global sensation BTS, and the nation’s No. 1 mobile game developer, Netmarble, have joined hands to launch a brand-new music-streaming platform, multiple sources said Tuesday.Even though the new platform may not be solely dedicated to BTS, sources say, the septet is highly likely to release some new songs exclusively for the platform. “The two firms have started development work as a venture project. The platform is targeting global users

PerformanceJuly 9, 2019

Japan rejects S. Korea's offer to hold talks to resolve export curbs

Japan on Tuesday rejected South Korea's call for negotiations to resolve a row over Tokyo's export restrictions against the South, saying it has no intention of lifting the curbs and the issue is not a matter of talks.Trade Minister Hiroshige Seko made the remark after a Cabinet meeting, a day after South Korean President Moon Jae-in urged Japan to retract the restrictions on exports of key materials to the South and called for negotiations to resolve the issue. Seko said the decision was part o

InternationalJuly 9, 2019

Education authorities cancel licenses for 8 elite high schools in Seoul

The Seoul education office decided Tuesday to cancel licenses for eight out of 13 "autonomous private high schools" in Seoul, as the education authorities and the government push for scrapping the privileged category of schools and bringing equality to public education. The cancellation came after the eight high schools -- Kyunghee, Paichai, Sewha, Soongmoon, Shinil, Choongang and two high schools affiliated with Ewha Womans University and Hanyang University, respectively -- failed to

Social AffairsJuly 9, 2019

S. Korea, US to hold economic talks amid Japan's export curbs

A foreign ministry official will travel to Washington this week for talks with his counterpart on economic issues, the ministry said Tuesday, amid speculation that the two sides may also discuss Japan's economic retaliatory measures against Seoul.Kim Hee-sang, director-general for bilateral economic affairs, will meet with Roland de Marcellus, acting deputy assistant secretary for international finance and development at the State Department, according to Seoul officials."There will be conc

Foreign AffairsJuly 9, 2019

BTS becomes highest-charting foreign artist in Japan with new Japanese single

Super group BTS topped Japan's Oricon weekly singles chart this week with its latest Japanese single "Lights/Boy With Luv," garnering the highest weekly score for any foreign artist in the Japanese music market, the band's management agency said Tuesday.The three-track single, dropped in Japan on July 3, earned some 621,000 sales points to finish atop the Oricon weekly singles chart for the week of July 1-7, according to Big Hit Entertainment.   It was the most points a singl

PerformanceJuly 9, 2019

Blue Bottle Coffee to add 2 more outlets in S. Korea this year

Blue Bottle Coffee Inc. said on Tuesday that it will increase the number of its outlets in South Korea to four this year as it seeks to tap deeper into one of the world's most competitive coffee markets. The California-based coffee company advanced to Korea in May by opening its first store in Seongsu, eastern Seoul. It opened a second shop in Samcheong, central Seoul, last week.South Korea has been a proven market for global coffee brands such as Starbucks. The Seattle-based coffee company now

IndustryJuly 9, 2019

Murder suspect jumps to death after 16-hour police standoff

A 45-year-old murder suspect surnamed Park jumped to his death in Geoje, South Gyeongsang Province.According to the police, Park is suspected of stabbing a man, 57, to death at 2:17 p.m. Monday. Park was identified as a key suspect in the murder in the ensuing investigation. The victim was the CEO of a company where Park’s ex-wife worked.Park ran to a rooftop of an apartment in Okpo-dong, a neighborhood along the eastern coast of the island.Police deployed a SWAT team, crisis negotiation t

Social AffairsJuly 9, 2019

Foreigners defaulting on state health insurance fees required to cover full medical cost

Foreign residents in South Korea who default on state health insurance fees will be required to personally pay for all medical costs, the health ministry said Tuesday.Under changes made to the National Health Insurance Act that will go into effect on July 16, foreign nationals who reside in the country for more than six months must mandatorily join the public health insurance plan, according to the Ministry of Health and Welfare.  "Those that are in arrears will not receive support unt

Social AffairsJuly 9, 2019

Soldier jumps into river after unit's coastal operations failure

An Army soldier jumped off a Han River bridge to his death, officials said Tuesday, after his unit came under fire for failing to detect a North Korean boat's arrival at a South Korean port last month.The 21-year-old private first class from the Army's 23rd division in Samcheok, Gangwon Province, threw himself into the Han River on Monday night. After being rescued, the solider, whose identity was withheld, was rushed a nearby hospital, but died soon after, Col. Jeon Ha-kyu said.  The man w

DefenseJuly 9, 2019

Govt officials of S. Korea, Japan to hold talks over Tokyo's export curbs: report

Government officials of South Korea and Japan will hold talks in Tokyo as early as this week to discuss Japan's toughening of restrictions on exports of key chemicals to South Korea, a news report said Tuesday. The meeting, if realized, will be the first time officials of the two countries have met since Japan announced on July 1 a stringent approval process for exports to Seoul of high-tech materials essential for the production of semiconductors and display panels, a report by Yomiuri Shimbun

Foreign AffairsJuly 9, 2019