[News Focus] Korean tech firms seek localization, diversification amid escalating trade row

To combat growing trade risks with Japan, South Korean chip and display makers are seeking ways to localize key materials and diversify supply sources, although it appears difficult in the short term. On July 1, the Japanese government tightened its export procedures to Korea of three classes of hi-tech materials crucial to the production of chips and display panels. They include fluorinated polyimide, photoresist and hydrogen fluoride, used mostly by Samsung Electronics, SK hynix, Samsung Displ

IndustryJuly 17, 2019

South Korean FIs nervous on trade row with Japan

With mounting anti-Japanese sentiment, financial institutions in South Korea, especially lenders, are closely monitoring how it could affect them, according to sources Wednesday. Tokyo’s decision to tighten controls on exports of key materials needed for the Korean tech industry, coupled with mounting tensions over Japan’s wartime forced labor has fueled strong anti-Japanese sentiment here in recent weeks. Of the four major commercial banks in Korea, Shinhan is known to have a s

MarketJuly 17, 2019

[News brief] LB Investment head gets suspended sentence for fabricating bank statements

Koo Ja-doo, chairman of venture capital firm LB Investment, received a suspended prison term for fabricating bank statements to close accounts he maintained under other people’s names, a court said Wednesday.  The Seoul Central District Court sentenced Koo, the fourth son of LG Group Founder Koo In-hoi, to one year in prison, suspended for two years, on charges of fabricating documents.Koo had a total of 281 bank accounts under the names of foreign students in Seoul who received schol

Social AffairsJuly 17, 2019

[News brief] Car crash at FINA leaves no injuries

A bus carrying participants of the ongoing world championships in Gwangju collided with a passenger car, but there were no injuries, police said Wednesday. The bus crashed into the vehicle, which was changing lanes, near Eodeung bridge in Gwangju, where the FINA World Aquatics Championships are being held, according to the Gwangju Metropolitan Police Agency. The bus was transporting 25 athletes from five countries from the Yeomju Gymnasium Artistic Swimming Competition Venue to the athletes

Social AffairsJuly 17, 2019

Police detain 1,089 people in 4-month crackdown on int'l crimes

A four-month crackdown on international crimes, such as illegal entries and drug trafficking, has resulted in the detention of 1,089 people, the Korean National Police Agency said Wednesday.The crackdown, conducted from March 4 to July 12, mainly targeted illegal employment of foreign workers, fake visa issuance, drug manufacturing and smuggling, and voice phishing, the agency said, noting 237 of the 1,089 detainees were formally placed under arrest. The crackdown busted 557 cases, and illegal e

Social AffairsJuly 17, 2019

KITA to open trade information center for small and midsized enterprises

The Korea International Trade Association said Wednesday that it would open a consulting and research center to support small and midsized enterprises in Korea within the second half of this year.According to KITA, the opening of such center, dubbed Center for Trade Information and Strategy, is to offer useful help for small and midsized companies which often encounter trade risks due to lack of personnel and material resources.  KITA said the center will run strategic and customized consul

IndustryJuly 17, 2019

S. Korea's national assets grow 8.2% in 2018

South Korea's total wealth grew at a fast pace from a year earlier in 2018 but largely on rapid increases in real estate and housing prices, central bank data showed Wednesday.The country's national assets came to 15,511.7 trillion won ($13.13 trillion) as of the end of last year, up 8.2 percent from a year earlier, according to the national balance sheet released by the Bank of Korea.The annual report is jointly compiled by the central bank and the statistics office. The 2018 tally is 8.2 times

EconomyJuly 17, 2019

BTS makes Time's list of 25 most influential people on internet

K-pop superstars BTS has made it on Time magazine's list of the 25 Most Influential People on the Internet for the third year in a row.The K-pop septet was among the 25 people the US magazine unveiled Tuesday (US time) for this year, which included US President Donald Trump, American musicians Ariana Grande and Cardi B, and the British royal family, Prince Harry and his wife, Meghan Markle. BTS was the only Korean on the list, on which the band marked its third annual presence since 2017, accord

PerformanceJuly 17, 2019

[Trending] Teen soccer star Lee Kang-in entangled in ‘love-stagram’ incident

Korean soccer star Lee Kang-in, 18, might have embarked on a new relationship, considering subtle moves he has made on Instagram in recent days. The guesswork has prompted some fans to call for an explanation from Lee. In an online community here, speculations surfaced that Lee could be dating a woman who is two years older than the teen prospect. The only purported evidence so far is that Lee’s official Instagram account started following a private account, believed to belong to the myste

SoccerJuly 17, 2019

N. Korea prioritizes security guarantee more than sanctions: think tank chief

North Korea seems to consider a security guarantee more important than sanctions relief in its denuclearization negotiations with the United States, a Seoul-based think tank chief has said.Lim Kang-taeg, head of the state-run Korea Institute for National Unification, made the remark during a meeting with reporters Tuesday, saying Pyongyang seems to have changed its strategy to bring the security guarantee issue to the forefront after the collapse of the Hanoi summit between its leader Kim Jong-u

North KoreaJuly 17, 2019

'Game of Thrones' reigns with record 32 Emmy nominations

LOS ANGELES (AP) -- HBO's "Game of Thrones" slashed its way to a record-setting 32 Emmy nominations Tuesday for its eighth and final season, leading HBO back to dominance over Netflix, the streaming service that bumped it last year from atop the increasingly crowded television heap.The bloodthirsty saga's total eclipsed the all-time series record of 27 nods earned by "NYPD Blue" in 1994.If "Game of Thrones" successfully defends it best drama series title and claims

TelevisionJuly 17, 2019

[팟캐스트] (309) 직장내 괴롭힘 방지법 시행 / 국내 기업, 일본 수출규제에 비상대책 마련

진행자: 김보경, Kevin Lee Selzer1. Workplace anti-bullying law takes effect기사요약: 직장 내 괴롭힘 금지법이 7월 16일 시행됐다. 이 법이 시행됨에 따라 사용자나 근로자가 지위나 관계 우위를 이용해 다른 근로자에게 업무상 적정 범위를 넘어선 신체적, 정신적 고통을 주거나 근무 환경을 악화시키는 행위에 대해 누구든 사업주에 신고할 수 있으며, 사업주는 조사를 벌여 피해자 보호와 가해자 징계 등의 조치를 해야된다.아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2팟빵 (안드로이드): http://www.podbbang.com/ch/6638[1] A new law aimed at preventing harassment in the workplace took effect in South Korea on Tuesday, bring

PodcastJuly 17, 2019

US hopes N.Korea talks go ahead despite Pyongyang threat

WASHINGTON (AFP) -- The United States said Tuesday it hoped to hold denuclearization talks with North Korea, despite a warning from Pyongyang that US-South Korean military exercises could affect their planned resumption. The North had earlier Tuesday hinted that it could even reconsider its moratorium on nuclear testing over next month's drills, which have been held for years but were scaled down to facilitate dialogue with Pyongyang.It was the first statement from the North on the talks since U

North KoreaJuly 17, 2019

Trump says time is 'not of the essence' in handling N. Korea

US President Donald Trump has said that time is "not of the essence" in handling North Korea, amid concerns that renewed tensions over a planned South Korea-US military exercise could hamper the resumption of working-level nuclear talks with the regime.Trump made the remarks during a Cabinet meeting Tuesday where he also boasted of "tremendous progress" in his diplomacy with Pyongyang and predicted that "good things" will ultimately happen. The remarks came hours af

North KoreaJuly 17, 2019

North Korea suggests it might lift weapons test moratorium

PYONGYANG (AP) -- North Korea on Tuesday suggested it might call off its 20-month suspension of nuclear and missile tests because of summertime US-South Korean military drills that the North calls preparation for an eventual invasion.The statement by the North's Foreign Ministry comes during a general deadlock in nuclear talks, but after an extraordinary meeting of the US and North Korean leaders at the Korean border that raised hopes that negotiations would soon resume.The comments ramp up pres

North KoreaJuly 17, 2019

House condemns Trump 'racist' tweets in extraordinary rebuke

WASHINGTON (AP) -- In a remarkable political repudiation, the Democratic-led US House voted Tuesday night to condemn President Donald Trump's "racist comments" against four congresswomen of color, despite protestations by Trump's Republican congressional allies and his own insistence he hasn't "a racist bone in my body."Two days after Trump tweeted that four Democratic freshmen should "go back " to their home countries - though all are citizens and three were born i

World NewsJuly 17, 2019

Pentagon: S. Korea, US preparing for joint exercise despite NK's warning

South Korea and the United States are preparing to stage a joint military exercise this fall, the Pentagon said Tuesday, after North Korea warned the drill will affect the prospects of working-level nuclear talks between the two countries.The North's foreign ministry issued the warning Tuesday, arguing that the "19-2 Dong Maeng" exercise, slated for around August, runs counter to the commitment that US President Donald Trump made when he held a surprise meeting with North Korean leader

DefenseJuly 17, 2019

Military investigating report of periscope-like object off Haengdam Island Service Area: JCS

An object that looks like a periscope of a submarine was spotted in the waters around Haengdam Island Service Area on the Seohaean Expressway, in South Chungcheong Province, Korea’s Joint Chiefs of Staff said Wednesday. Police on patrol found the object “moving towards the north” and reported it to the military. The military said it is running an investigation, though it views it unlikely that a submarine would have passed through the area due to the shallow depth of the water

DefenseJuly 17, 2019

Cheong Wa Dae: Japan's arbitration process offer unacceptable

A couple of days ahead of the deadline set by Japan for South Korea to respond to its offer of a formal arbitration process over historical disputes, the office of President Moon Jae-in made clear Tuesday that it won't accept the call.Cheong Wa Dae’s stern stance came amid Tokyo‘s threat of additional trade measures against South Korean companies. It heralds a possible deepening of the rift between the neighboring countries.　"There’s no change in the government‘s pos

Foreign AffairsJuly 16, 2019

N. Korean envoy seems alive despite report of execution: S. Korea's spy agency

A North Korean nuclear negotiator, reported to have been executed as punishment for the failed summit in Hanoi with the United States, appears to be alive, South Korea‘s state intelligence agency told lawmakers here Tuesday.　Citing multiple sources, a Seoul-based newspaper reported in late May that the negotiator, Kim Hyok-chol, had been executed by gunshot in a purge by North Korean leader Kim Jong-un of some officials involved in preparations for his Hanoi meeting with US President Donal

North KoreaJuly 16, 2019