Jungheung Group becomes largest shareholder of Herald Corp.

Jungheung Group, a major South Korean construction conglomerate based in Gwangju, announced Monday that it has become the largest shareholder of Herald Corp., the parent company of The Korea Herald and The Herald Business.As part of its strategy to diversify its construction-focused business, Jungheung completed acquisition of 47.8 percent stake in Herald Corp. late last month, pledging to innovate with the Seoul-based media company through strategic investments. Upon inauguration as the new cha

IndustryJuly 1, 2019

Eximbank under pressure to boycott coal finance

South Korea’s official export credit agency Export-Import Bank of Korea is under pressure from international environmental activists to halt its financing of coal power plants, amid a growing global campaign to tackle climate change and air pollution. On Sunday, Greenpeace Korea shone a laser light on the headquarters building of the Export-Import Bank of Korea in Seoul, displaying messages that read, “Stop investing in coal-fired plants” and “President Moon Jae-in, when

IndustryJuly 1, 2019

Women sex crime victims double in past decade: report

The number of women who were victims of a sexual offense in 2017 has increased over twofold since 2007, according to a ministry report.An annual statistical report on women’s life in Korea, released jointly by the Ministry of Gender Equality and Statistics Korea on Monday, showed that women who were reported as the victims of sexual offenses had increased 2.3 times from 12,718 in 2007 to 29,272 in 2017. Men who were reported as sexual offense victims also increased 2.6 times from 697 to 1,

Social AffairsJuly 1, 2019

Unidentified object spotted over DMZ was a flock of birds: JCS

An unidentified object detected on military radars flying near the border with North Korea turned out to be a flock of birds, the Joint Chiefs of Staff said Monday, after the detection prompted fighter jets to scramble.Earlier in the day, the JCS said that the military "is checking and taking measures after the military radar captured an unidentified object in the sky above the Demilitarized Zone in the central portion of the inter-Korean border in Gangwon Province at around 1 p.m.The objec

DefenseJuly 1, 2019

Body of Korean tourist drowned in Kota Kinabalu set to return home

The body of a South Korean tourist who drowned in waters off Kota Kinabalu, Malaysia, has been found and will be returning to Korea, the Korean Embassy in Malaysia said Monday.According to the Korean Embassy in Malaysia, an 18-year-old surnamed Ahn went missing at around 3:30 p.m. Friday after he was swept away by waves while swimming at a beach in Karambunai. A search and rescue team comprising the local fire department, the police and the Coast Guard was deployed at around 4:17 p.m. after his

Social AffairsJuly 1, 2019

Yuhan Corp. licenses out NASH pipeline to Boehringer Ingelheim for $870m

Korean pharma company Yuhan Corp. said through a regulatory filing Monday that it has clinched a deal worth $870 million to license out its nonalcoholic steatohepatitis (NASH) pipeline to global biopharma firm Boehringer Ingelheim for joint research and development purpose.　Yuhan and Boehringer Ingelheim’s collaboration aims to develop first-in-class dual agonist for NASH and related liver diseases that combines GLP-1 and FGF21 activity in one molecule, the companies said. 　“This mol

IndustryJuly 1, 2019

99% of workers at Homeplus now permanent employees

South Korean discount chain Homeplus said Monday that it has granted permanent employment status to 14,283 contract workers at its stores, who account for some 62 percent of all workers at Homeplus, Homeplus Stores and Homeplus Holdings.  The change means Homeplus employs only 1 percent of its workers, or 228 individuals, on a contract basis, according to the company.Homeplus said having 99 percent of its employees, or 22,900 individuals, hold full-time permanent status was a meaningful ste

IndustryJuly 1, 2019

'Hyangho Beach Bus Stop' favorite travel destination for BTS fans: poll

A bus stop on a remote east coast beach has been voted the most popular travel destination for K-pop group BTS' fans planning to visit South Korea, a poll showed Monday.The "Hyangho Beach Bus Stop" in the Jumunjin district of Gangneung, Gangwon Province, ranked first in a popularity poll of BTS filming locations across Korea conducted by the Korea Tourism Organization on 22,272 fans in 137 countries.According to the KTO, 21.8 percent of the pollees chose the Hyangho Beach Bus Stop in G

TravelJuly 1, 2019

Busan police chief named to lead Seoul police agency

Lee Yong-pyo, commissioner of the Busan Metropolitan Police Agency, was appointed as chief of the Seoul Metropolitan Police Agency in a reshuffle of top police officers on Monday.Lee Joon-sup, director of the National Security Bureau at the Korean National Police Agency , was promoted to head the Korean National Police University, while Kim Chang-ryong, commissioner of the Gyeongnam Provincial Police Agency, was named new chief of the Busan agency.  Bae Yong-joo, director of the KNPA‘

PoliticsJuly 1, 2019

[Trending in Pairs] When CCTVs do more than catch thieves

For many, the main purpose of installing a surveillance camera is to prevent theft and strengthen security.But the closed-circuit TVs can now play a significant role beyond such a purpose, as the latest models connected with artificial intelligence software help retailers develop data-driven strategies and increase sales by using video-based analytics.According to Hanwha Techwin, a South Korean total security solutions provider that manufactures surveillance cameras for video analytic solutions

IndustryJuly 1, 2019

Busan Air begins to have employees take breath alcohol tests before duty

Air Busan Co., a budget carrier unit of Asiana Airlines Inc., began Monday to implement an electronic system to have its flight crew, mechanics and other employees involved in its core aviation operations take a self-administered breath alcohol test before flights or ground service, the company said.All of the company's establishments are subject to the system, developed by the airline, and it marks the first time in the country's aviation industry that such a system has been introduced. Under t

IndustryJuly 1, 2019

Actor Kim Soo-hyun discharged from military

South Korean star actor Kim Soo-hyun was discharged from the military on Monday, bracing himself for a return to show business. Meeting with media and fans in front of the Imjingak Peace Bell in Paju, north of Seoul, he thanked his fans for welcoming him. A number of fans from Japan and China, as well as South Korea, came to celebrate his discharge early in the morning. "I'd been worried a lot over how to spend my days in the military since I joined it at a relatively later age than others,

EntertainmentJuly 1, 2019

[Behind the Wheel] Very New Tivoli runs quieter despite stronger engine

Since the 2015 launch of the Tivoli, SsangYong Motor’s bestselling compact sport utility vehicle has been especially popular among drivers who prefer a compact, stylish SUV -- one that is suitable for urban driving and has a more spacious trunk than a sedan.But after four years, the Very New Tivoli is here. This face-lifted version will appeal to drivers seeking a dynamic driving experience, a powerful engine and the chance to try out different driving modes. During the 170-kilometer test

MobilityJuly 1, 2019

Freelance platform operator Aroundus raises W880m seed funding

Aroundus, a South Korean startup operating a platform that matches freelancers with employers, said on July 1 it has raised 882 million won ($761,700) in seed funding from venture capital investors. The funds have come from Shinhan Capital, Shinhan Investment and Korean startup accelerator D.Camp.  Since launching in July 2018, the number of subscribers for Aroundus’ Korean web service surpassed 14,000 last month. “We recognized Aroundus’ capacity to think out of the box t

TechnologyJuly 1, 2019

Dodgers' Ryu Hyun-jin expected to start 1st All-Star Game

In the midst of an outstanding season, Los Angeles Dodgers' South Korean starter Ryu Hyun-jin is expected to start the All-Star Game next week in his Midsummer Classic debut.Ryu was announced as one of 12 pitchers for the National League All-Star squad by Major League Baseball on Sunday (local time). The All-Star Game will be played on July 9 at Progressive Field in Cleveland.And Dave Roberts, Ryu's manager with the Dodgers who will be the NL skipper at the All-Star Game, told reporters, "I

BaseballJuly 1, 2019

S. Korean Park Sung-hyun captures 7th career LPGA title, set to reclaim No. 1 ranking

South Korean star Park Sung-hyun has reached lucky No. 7 in her LPGA career win total and will reclaim the No. 1 spot in the world rankings.Park won the 54-hole Walmart NW Arkansas Championship in Rogers, Arkansas, on Sunday (local time), at 18-under 195, beating three golfers by one shot and earning $300,000.Park fired a final round of five-under 66 at the Pinnacle Country Club for her second victory of 2019. Two fellow South Koreans -- Park In-bee and Kim Hyo-joo -- were among the runners-up.

GolfJuly 1, 2019

S. Korea's exports down 13.5% in June amid US-China trade row

South Korea's exports decreased 13.5 percent in June from a year earlier, extending their on-year fall for the seventh consecutive month, data showed Monday, due mainly to the prolonged trade row between the world's top two economies.Outbound shipments came to $44.18 billion for June, down from the $51 billion tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.Imports fell 11.1 percent on-year last month to $40 billion, the ministry added. The co

EconomyJuly 1, 2019

Trump heads home after historic DMZ meeting with Kim

US President Donald Trump headed home on Sunday after his historic meeting with North Korean leader Kim Jong-un at the inter-Korean border.A presidential plane carrying Trump and his entourage left for Washington late in the day from a US air base in Osan, south of Seoul, following his two-day stay in South Korea. He arrived in Seoul from a trip to Osaka, Japan, where he took part in a Group of 20 summit.After holding a summit with South Korean President Moon Jae-in here on Sunday, Trump made a

Foreign AffairsJune 30, 2019

Rival parties give mixed response to historic DMZ meeting

The ruling Democratic Party and its smaller rivals on Sunday assessed the meeting between the leaders of the two Koreas and the United States at the inter-Korean border as a historic one.The main opposition Liberty Korea Party said the resumption of stalled talks is meaningful but stressed the national interest should be prioritized in the process of denuclearization talks.The DP highlighted President Moon Jae-in's mediating role in realizing a three-party meeting also involving U.S. President D

North KoreaJune 30, 2019

[Analysis] Trust-building between Trump, Kim signals flexibility in upcoming working-level negotiations

Stalled denuclearization talks between Pyongyang and Washington gained new momentum after US President Donald Trump set foot in North Korea Sunday. Following a meeting with North Korean leader Kim Jong-un at Peace House in Panmunjom, Trump said that he had invited Kim to Washington. “Anytime he wants to do it. I think we want to take this down to the next step, let’s see what happens,” he told reporters. Trump and Kim also agreed to resume working-level talks on denucleari

North KoreaJune 30, 2019