[From the Scene] Posco steels itself for green car era

SONGDO, Incheon – As vehicles increasingly shift from gasoline to electric power, attention is turning to whether lighter materials such as carbon fiber reinforced polymers and aluminum will replace steel in car parts, frames and bodywork. But South Korean steel giant Posco thinks there is hope for steel yet. It is aiming to keep carmaker clients by offering lighter but stronger kinds of steel. The strategy comes thanks to a highly engineered marketing solution devised by its research and

IndustryJuly 28, 2019

Hyundai Glovis opens first SE Asia office in Vietnam

Hyundai Motor Group’s logistics arm Hyundai Glovis is widening its overseas presence by opening its first Southeast Asian office in Vietnam.Hyundai Glovis Vietnam, which was launched Thursday, will serve as a bridgehead for the company to expand its business in the region, the firm said.The company will focus on transporting automotive and nonautomotive products such as food, cold chain products, textile and clothing. It will also supply auto parts to a local factory which has an annual ou

IndustryJuly 28, 2019

Lotte Duty Free opens third store in Vietnam

Lotte Duty Free said Sunday that its third duty-free store in Vietnam has opened at Hanoi’s Noi Bai International Airport, a year after its second outlet was launched in Nha Trang. Spanning over 506 square meters, the store inside the departure area in Hanoi Airport sells perfumes, cosmetics, liquor, tobacco, food, and more, from 90 brands. It also exclusively sells products from 21 brands including South Korea’s History of Whoo. The duty-free operator said it expects sales at t

IndustryJuly 28, 2019

[Advertorial] Citibank Korea participate in 22nd Habitat volunteer program

Citibank Korea said Sunday it has carried out its 22nd annual charity and volunteering program “Citi Building Hope and Home” through its partnership with Habitat for Humanity Korea.The South Korean unit of the international banking giant said employees and their families visited a Habitat building site in Cheonan, South Chungcheong Province, from Tuesday to Friday, to deliver donations and build homes for the homeless. The program has so far been joined by some 1,700 employees and th

IndustryJuly 28, 2019

Juventus accused of breach of contract for benching Ronaldo in Seoul exhibition

Italian football champions Juventus breached an agreement when they benched superstar Cristiano Ronaldo in an exhibition match against South Korean league All-Stars, a local organizer of the match claimed Saturday.Some 63,000 fans at Seoul World Cup Stadium went home disappointed Friday night, as Ronaldo did not play in a 3-3 draw between Juventus and K League All-Stars. TheFasta, the agency responsible for the event with Juventus, released a statement Saturday claiming that it didn't know about

SoccerJuly 28, 2019

[Newsmaker] Foreign swimmer arrested for alleged sexual harassment

A foreign swimmer participating in the FINA World Championships in Gwangju was arrested Sunday for alleged sexual harassment.Gwangju Seobu Police Station in the southern metropolitan city said it has arrested the swimmer, 22, on charges of sexually harassing an 18-year-old woman at a club around 3 a.m. Sunday. The woman called police immediately and the swimmer, whose identity was withheld, was arrested on the spot.The swimmer, accompanied by an attorney from his native country, is said to be de

Social AffairsJuly 28, 2019

S. Korea speeds up efforts to file compliant with WTO on Japan's export curbs

The South Korean government is speeding up preparations to file a complaint with the World Trade Organization as Japan is moving to remove Asia's fourth-largest economy from its "whitelist" of trusted trading partners, sources said Sunday."We plan to file a complaint with the WTO on a date convenient for South Korea," Deputy Trade Minister Kim Seung-ho said last week after returning home from Geneva, where he participated in a WTO meeting to win support from the international

EconomyJuly 28, 2019

Daily trading volume on main bourse hits lowest in 30 months

The daily average trading volume at South Korea's main bourse reached the lowest level in 30 months in July, data showed Sunday, as investors' sentiment was hurt by the global trade disputes.As of Friday, the daily average trading volume on the main bourse reached 4.3 trillion won ($3.63 billion), which marked the lowest level since 4.1 trillion won posted in January 2017, according to the Korea Exchange.The figure marked a sharp decrease from May last year, when the figure reached a record high

EconomyJuly 28, 2019

N. Korean military's fishing boat 'mistakenly' crosses sea border into S. Korea

A fishing boat apparently operated by North Korea's military has been towed into a South Korean port for investigation after sailing across the inter-Korean sea border, the military authorities here said Sunday.Three North Koreans, one wearing the communist nation's military uniform, were aboard the 10-meter-long wooden boat, according to the Joint Chiefs of Staff. It was first spotted sailing in waters 5.5 kilometers north of the Northern Limit Line in the East Sea at around 10:15 p.m. on Satur

North KoreaJuly 28, 2019

S. Korea honors int'l veterans of Korean War

South Korea on Saturday honored a group of international soldiers who fought in the 1950-53 Korean War under the UN flag for their service. At a ceremony hosted by the Ministry of Patriots and Veterans Affairs, South Korea welcomed a total of 107 war veterans and their family members from 16 countries, including the United States and Australia. "South Korea's dream to settle peace on the Korean Peninsula is also a dream of the UN that saved South Korea from the Korean War," Prime

DefenseJuly 27, 2019

Trade minister returns home after consulting with US over Japan's trade curbs

South Korean Trade Minister Yoo Myung-hee returned home from the United States on Saturday after asking for Washington's support and mediation in Seoul's fight against export controls by Japan.During her five-day visit, Yoo met various political and business officials in Washington, including US Commerce Secretary Wilbur Ross, to highlight that Tokyo's restrictions are not acceptable. Starting this month, without prior notice, Japan implemented strict regulations for exports of three key materia

IndustryJuly 27, 2019

N. Korea emphasizes economic development on armistice anniversary

North Korea urged its people to focus on economic development with a strong will to protect its regime on the armistice anniversary Saturday. The Rodong Sinmun, the North's main newspaper, said in an editorial that people and its soldiers should move forward in creating a strong communist nation, adding they should make a leap in the area of economic development on the 66th anniversary of the signing of the armistice that ended the 1950-53 Korean War.The armistice signed on July 27, 1953, l

North KoreaJuly 27, 2019

Loft collapse inside Gwangju nightclub kills 2, injures athletes at FINA championships

A loft inside a nightclub in the southwestern city of Gwangju collapsed Saturday, killing two people and injuring more than 10, including athletes competing at the 18th FINA World Championships, city authorities said. The Gwangju Fire and Safety Headquarters said the loft inside the nightclub collapsed around 2:30 a.m. and claimed the lives of two South Koreans. Authorities suspect the loft collapsed due to too much weight. Witnesses said there were about 100 people on the loft area, which

Social AffairsJuly 27, 2019

Trump says he is not upset by NK missile launch

US President Donald Trump said Friday he is not upset by North Korea's ballistic missile launches earlier this week, signaling a commitment to continuing nuclear talks with the regime.Trump's remarks came after North Korea test-fired two short-range ballistic missiles on Thursday (Seoul time) in the first such provocation since early May.Asked by reporters if he was upset, Trump said, "Nope, not at all.""They're short-range missiles and my relationship is very good with Chair

Foreign AffairsJuly 27, 2019

Lawmakers from S. Korea, US, Japan seek to boost cooperation, resolve trade spat

Lawmakers from South Korea, the United States and Japan met in Washington on Friday to help boost trilateral cooperation and resolve a trade dispute between Seoul and Tokyo.The biannual meeting, organized by The Maureen and Mike Mansfield Foundation, came at a time of tense relations between the two US allies over Japan's adoption of stricter export controls against South Korea earlier this month.The controls, which affect exports of key materials used in the production of semiconductors and dis

Foreign AffairsJuly 27, 2019

NK marks armistice anniversary with warning of 'merciless' fight against invasion

North Korea threatened a "merciless" response to any enemy attacks Friday ahead of the 66th anniversary of the signing of the armistice that ended the 1950-53 Korean War.Kim Su-gil, director of the General Political Bureau of the Korean People's Army, made the remarks during his speech at a meeting to mark the anniversary slated for Saturday. "We have to launch merciless attacks to vigorously crush those who even dare to invade 0.001 millimeter of our holy sky, land, and sea,

North KoreaJuly 26, 2019

[Gwangju Swimming] 2 Americans break world records in swimming

Two American swimmers broke world records at the world championships on Friday.First was Caeleb Dressel winning the men's 100m butterfly semis at the FINA World Championships in 49.50. Dressel topped Michael Phelps' 10-year-old record by 0.32. Minutes later, Regan Smith set a new world record in the women's 200m backstroke, winning the semifinals at 2:03.35. The previous record, set by Missy Franklin of the United States in 2012, was 2:04.06.Smith, 17, had set the junior world record in thi

More SportsJuly 26, 2019

[Gwangju Swimming] US pulls off three-peat in women's water polo

GWANGJU -- The United States captured its third straight world title in women's water polo on Friday, defeating Spain 11-6 to cap off an undefeated run to the top.The US became the first team in FINA World Championships history to win three consecutive women's water polo titles. Friday's game was a rematch of the 2017 final, when the Americans prevailed 13-6. The US never trailed in the match that was held on a day of heavy downpours.The US led 3-1 after the opening quarter. Spain pulled ev

More SportsJuly 26, 2019

US nuclear-powered attack submarine comes to S. Korean port

A US nuclear-powered attack submarine is visiting a South Korean port, government sources said Friday, amid heightened tensions following North Korean missile tests.The 6,900-ton USS Oklahoma City arrived at the southern port of Busan on Thursday, they said, to replenish supplies and have its crew rest. The submarine is reportedly scheduled to depart next week.The port call came on the same day that North Korea launched two missiles from Hodo Peninsula near the North's eastern coastal town

DefenseJuly 26, 2019

Moon's advisor says NK sanctions relief possible if Pyongyang takes concrete denuclearization steps

North Korea could get sanctions relief if it takes concrete denuclearization steps, including a verifiable dismantlement of its key Yongbyon nuclear facility, a special security advisor to President Moon Jae-in said Friday.Moon Chung-in, special presidential advisor for unification, foreign and security affairs, made the case amid a prolonged standstill in the talks between the North and the United States. "If the North shows concrete progress (in its plan) for denuclearization, I beli

North KoreaJuly 26, 2019