Moon’s new policy aide vows to promote fair economy, income-driven policy

President Moon Jae-in’s new secretary for policy, who earned the nickname “chaebol sniper” for his decadelong shareholder activism, vowed to keep his stance of promoting income-led growth, innovation and a fair economy. At a farewell meeting as chief of Fair Trade Commission, Kim Sang-jo told reporters he is open to dialogue with conglomerate chiefs while drawing a clear line saying that incumbent Finance Minister Hong Nam-ki will keep his role as control tower on economic poli

IndustryJune 23, 2019

[Slawomir Sierakowski] Teflon populism

Populist rule is invariably associated with corruption, nepotism and incompetence. Why, then, do populists appear immune to scandal? Revelations that would have shocked electorates just a few years ago leave nary a mark on populist leaders and government ministers. And, sometimes, what doesn’t kill them even seems to make them stronger.Examples are legion. When Der Spiegel reported that the far-right Alternative fur Deutschland had misappropriated funds, the party’s supporters could

ViewpointsJune 23, 2019

[David Ignatius] Iran is trying to fight its way out

The most important variable in the current Persian Gulf confrontation is time. The Trump administration wants to play a long game, to draw the sanctions tourniquet ever tighter. Iran needs to play a short game, to escape the American chokehold before it becomes fatal. This inner dynamic helps explain this past month’s events in the Gulf -- Iran’s steady escalation of deniable strikes and President Trump’s relatively restrained military response. Each side has a different playbo

ViewpointsJune 23, 2019

USITC probes Samsung over touch screen tech patents

South Korea’s Samsung Electronics and six other global tech giants are being investigated by the US International Trade Commission following allegations that they violated patents in their touch-controlled mobile devices, computers and components, according to industry sources Sunday. The USITC disclosed on its website that it will launch an investigation over allegations that certain touch-controlled devices imported to the US have violated Section 337 of the US Tariff Act.The complaint w

TechnologyJune 23, 2019

[Behind the Brand: 2] Tous Les Jours, Innisfree: Why do so many Korean brands have foreign words?

Thanks to the unconscious cultural assumption that foreign equals luxurious, foreign languages have long played a major role in the South Korean business world and influenced branding decisions accordingly. This strategy is known as foreign branding -- companies make their products or brands sound exotic to enhance their perceived value and make them more marketable. There are also cases where brand names are derived from foreign words even in the absence of a clear foreign branding strategy. Lo

IndustryJune 23, 2019

Entrepreneurs should learn how to hire and fire: Altos Ventures

YEOSU, South Jeolla Province -- For a startup to grow, entrepreneurs should learn how to hire decent staff and fire bad apples, said Han Kim, managing director of Silicon Valley-based venture capital firm Altos Ventures on Friday.“When we decide to engage in a follow-up funding round for our portfolio startups, the most critical factor is the entrepreneur’s capability to bring in more talent, along with the courage to sack employees or board members who are unfit for our goals,&

MarketJune 23, 2019

[Foreign Execs in Korea: 2] Hyundai Mobis seeks to build confidence, forge new partnerships for growth

The Korea Herald is publishing a series of interviews with foreign executives at Korean firms on their role and vision for change, growth in the homogenous corporate world. -- Ed.YONGIN, Gyeonggi Province -- What struck Gregory Baratoff, a US auto engineer with a long career background in Germany, when he started working in South Korea was the sense of low esteem that prevailed in his new office. Since joining Hyundai Mobis, the auto parts maker under Hyundai Motor Group, in 2017, Baratoff has b

MobilityJune 23, 2019

Trump may visit DMZ on Sunday

US President Donald Trump is likely to visit the Demilitarized Zone between South and North Korea during his planned state visit to Seoul later this week, Japanese media reported Sunday. Following a summit with President Moon Jae-in at Cheong Wa Dae on Sunday, Trump is expected to travel to the zone about 50 kilometers north of Seoul by helicopter. The DMZ has divided the country since the Korean War was halted in an armistice in 1953. The US president will pay a two-day state visit to the South

North KoreaJune 23, 2019

Swiss scholars win Shin Research Excellence Award

A team of scholars from University of St. Gallen in Switzerland won the International Insurance Society’s 2019 Shin Research Excellence Award, endowed by Kyobo Life Insurance, the Korean insurer said Sunday. According to the firm, Alexander Braun, adjunct professor of risk management, Sebastian Utz, assistant professor of finance, and Jiahua Xu, a postdoctoral researcher, were awarded by the IIS for their research titled, “Are Insurance Balance Sheets Carbon-Neutral? Harnessing

MarketJune 23, 2019

Kim Jong-un will consider ‘interesting content’ in Trump’s letter

North Korean leader Kim Jong-un received a letter with “excellent content” from US President Donald Trump, according to the Korean Central News Agency on Sunday. Pyongyang’s official mouthpiece said that Kim expressed his satisfaction with the letter after reading it. “Appreciating the political judging faculty and extraordinary courage of President Trump, Kim Jong-un said that he would seriously contemplate the interesting content,” the KCNA said in a three-sentenc

North KoreaJune 23, 2019

[Graphic News] Iceland still world’s most peaceful country

The world has become slightly safer for the first time in five years but it remains “considerably less peaceful now than a decade ago,” a think tank said.The 2019 Global Peace Index ranked Iceland as the world’s most peaceful nation for the 11th year in succession, based on 23 factors including internal and external conflicts, military spending, terrorism and crime rates. South Korea is 55th on the list.Afghanistan was at the bottom, followed by Syria, South Sudan, Yemen and Ir

World NewsJune 23, 2019

Cheong Wa Dae positive about letter diplomacy between US, N. Korea

SEOUL -- South Korea's presidential office said Sunday that it expects the exchange of letters between the leaders of North Korea and the United States to be helpful to the overall dialogue process.Cheong Wa Dae said it was aware that President Donald Trump had sent a letter to the North's leader Kim Jong-un."The government assesses the exchange of personal letters between the leaders of the North and the US positively in terms of maintaining the momentum of their dialogue," Cheong Wa

PoliticsJune 23, 2019

S. Korean IPO capital exceeds W1tr in H1

The volume of capital raised through initial public offering in the South Korean stock market surpassed 1 trillion won ($863 million) in the first half of the year, data from the Korea Exchange showed Sunday, with NH Investment & Securities leading the way among underwriters. Some 1.09 trillion won in equity capital was raised in the first half of the year, according to the nation’s sole bourse operator, a 39.6 percent increase from the same period last year.  Eighteen companies j

MarketJune 23, 2019

Sunfull holds campaign in support of Prince William’s anti-cyberbullying program

Sunfull Foundation held an anti-cyberbullying campaign for youth in Seoul last week, in recognition of Prince William and the Royal Foundation’s efforts to counter cyber violence.Sunfull Foundation on Thursday hosted an anti-cyberbullying campaign at Kwangwoon Middle School in Seoul, calling on students to stay away from violence and hate speech on the internet. The event was held as part of the Sunfull Foundation’s support for the Stop, Speak, Support campaign launched last year by

PeopleJune 23, 2019

Hyundai Motor ad on hearing-impaired taxi drivers wins Silver Lion at Cannes

Hyundai Motor Group’s “The Quiet Taxi” commercial won the Silver Lion at the 2019 Cannes Lions International Festival of Creativity, the group said Sunday. Global advertisement agency Innocean Worldwide produced the film, with Jeremy Craigen as the chief creative officer.Touted as the world’s biggest celebration of creative advertisements, the 66th Cannes Lions took place in France from June 17 through Friday. Over 30,000 commercials from 89 countries competed.The award-w

IndustryJune 23, 2019

Prosecution eyes harsh penalties for serious DUI accidents

Prosecutors will demand harsh penalties, including life sentences, for drivers who kill or severely injure people while driving under the influence of alochol, according to the prosecutor’s office Sunday.Under the revised guidelines that will go into force from Tuesday, prosecutors are advised to seek the maximum penalty for drunk drivers who cause unusually severe damage or who have habitually driven under influence.The guidelines also make it a rule to put into custody drunk drivers who

Social AffairsJune 23, 2019

Dior brings art to Paris fashion for sculpted men’s show

PARIS -- Dior brought art to Paris Fashion Week on Friday as designer Kim Jones used a monumental plaster sculpture on the runway to inspire his architectural show.Guests including Kate Moss, Christina Ricci and Kelly Osbourne marveled at the giant artwork by American artist Daniel Arsham that spelled out “DIOR” in broken up plaster with jewels surreally glimmering beneath.Here are some highlights of spring-summer 2020 menswear shows.___　 Dior goes back to past“It’s quite

CultureJune 23, 2019

Experts raise alarm over climate change threat to cultural heritage

ATHENS -- Climate change could wreak “irreversible damage” on the world’s most precious ancient monuments and other cultural sites, experts warned Saturday as they pushed for UN protection for major global sites.Academics and policy makers gathered in Athens for a meeting on the threats to world heritage called for an array of tools to predict, measure and counter the effects of climate change. They are campaigning to have the issue included on the agenda at the UN Summit for C

CultureJune 23, 2019

Acropolis Museum opens ancient Athens neighborhood site below its base

ATHENS, Greece -- Greece’s Acropolis Museum opened an excavation site underneath its modern building Friday, allowing visitors for the first time to walk through an ancient Athenian neighborhood that survived from the Classical era to Byzantine times.The museum, which sits at the foot of the Acropolis hill in Athens, houses masterpiece sculptures of Greek antiquity, including works from the Parthenon, one of the most influential buildings in Western civilization. “Visitors can come d

CultureJune 23, 2019