Coupang CEO on list of world’s most creative businesspeople

Kim Beom-seok, also known as Kim Bom, CEO of South Korean e-commerce company Coupang, has been named one of the most creative business leaders by US business magazine Fast Company, officials said Monday.Kim ranked 23rd on the magazine’s 10th annual list of the 100 most creative people in business this year, in recognition of the company’s innovative delivery system and its impact on the e-commerce industry.The Korean company was especially recognized for its fast delivery system, whi

IndustryMay 27, 2019

Mercedes-Benz Korea holds charity marathon, raises W920m

The corporate social responsibility division of Mercedes-Benz Korea held its fourth annual charity marathon Sunday, saying it hoped to promote a spirit of community sharing and cultivate the philanthropic culture here, the company said Monday.Titled “Give ’n Race,” the annual event was jointly organized by the Seoul Metropolitan Government. Around 20,000 runners took part, raising about 920 million won ($776,000) -- the largest amount since the South Korean unit of the German c

MobilityMay 27, 2019

Samsung SDS signs strategic partnership with Vietnamese firm

Samsung SDS announced Sunday its strategic investment in Vietnamese information technology services company CMC. The IT unit of South Korea’s major conglomerate group signed a principle agreement that allows it to make major decisions in CMC’s management.  CMC specializes in system integration, software development, cloud computing and IT infrastructure management. It has previously worked with Samsung SDS for smart factories and cybersecurity.Samsung SDS said it will be a strat

TechnologyMay 27, 2019

[Andrew Sheng] Why are stock markets complacent?

There has been so much bad news lately that the only good news, if you believe it, lies in the stock market. Simply put, despite the trade war and all the political bad news, the US stock markets hover around historical highs. And Asian stock markets are still guided by sentiment in Wall Street.Is that market optimism justified?From its trough on March 9, 2009, to its last peak on April 23, 2019, the S&P500 Index rose 334 percent, so everyone who invested in US stocks has done well. How just

ViewpointsMay 27, 2019

[Karl W. Smith] How this trade war will remake the world 　

US President Donald Trump has long said the goal of his trade policy is simply to get better deals for Americans. But as the trade war intensifies, it seems increasingly likely that his policies will lead to something more: a lasting break with China and a new alignment of global power. First, consider the evidence for the break. The current impasse in trade talks was sparked by a sudden change in terms on the part of the Chinese negotiators. This change likely caught the administration off g

ViewpointsMay 27, 2019

[Diplomatic circuit] Sri Lanka Tourism Promotion Bureau to hold roadshow in June

The Sri Lanka Tourism Promotion Bureau will host its annual roadshow in June for travel agencies of South Korea and Sri Lanka to exchange latest industry information.The event will take place at Lotte Hotel in Busan on June 4 and Westin Chosun Hotel in Seoul on June 10.  According to the tourism bureau, 10 Sri Lankan tour and resort companies will participate, and the event will provide opportunities for Korean and Sri Lankan travel agencies to hold business-to-business meetings.The bureau

Diplomatic CircuitMay 27, 2019

[Diplomatic circuit] UNICEF Korea holds forum on child-friendly urban planning

Regional government officials and experts gathered to discuss child-friendly urban planning at a forum organized by UNICEF Korea on Friday. A consultative group of regional governments held the forum with the UNICEF Korea Committee at a children’s culture center theater in Hwaseong, Gyeonggi Province. Opening the forum, Tim Gill, a UK-based children’s rights specialist, explained that creating a child-friendly city starts from understanding how children view cities. He stressed that

Diplomatic CircuitMay 27, 2019

Hyundai E&C’s Hillstate Dasa to go on sale

Hyundai Engineering & Construction said Monday it will begin the sale of 736 units of Hillstate Dasa in Daegu at the end of this month.  Hillstate Dasa comprises seven 33-story blocks that each have four basement floors. The units come in two different styles and an officetel type, with all at 84 square meters. All three types have a large-sized dress room, storage, a pantry room and an alpha room. The complex is located near Dasa Station on Subway Line No. 2, which runs across Dae

IndustryMay 27, 2019

KT&G goes up against Juul with Lil Vapor

South Korean tobacco manufacturer KT&G began selling its latest e-cigarette, Lil Vapor, Monday, adding to growing competition in the e-cigarette market following the Friday launch of US-based Juul Labs’ vape pen. According to KT&G, Lil Vapor has upgraded the liquid-type e-cigarette by applying “puff signal” technology, which allows the device to tell users how many puffs are left by vibrating. This will be useful for customers who do not notice how much liquid is left i

IndustryMay 27, 2019

[Feature] Do presidential petitions hurt democracy?

Asking for a conservative political party to be disbanded, and taking issue with a judge who did not issue an arrest warrant for K-pop star Seungri. Expressing opposition to an upcoming LGBTQ pride parade, and calling on the government not to accept refugees.　These are only some of the requests that have flooded Cheong Wa Dae’s online petition system in recent months.  Thanks to the system, South Koreans are closer than ever to the president as anyone can anonymously file a petit

Social AffairsMay 27, 2019

YG head arranged sexual services for investors: report

Yang Hyun-suk, head of South Korean entertainment powerhouse YG Entertainment, procured sexual services for foreign investors, according to a preview video released by a local investigative TV program. YG Entertainment flatly denied the allegations. In the teaser video for the upcoming episode, which was to be officially aired Monday night on the MBC program “Straight,” the show’s team argued that it had obtained detailed testimony indicating that Yang had solicited prosti

Social AffairsMay 27, 2019

Industry minister urges Chinese companies to invest in Saemangeum

South Korea’s minister of trade, industry and energy asked Chinese companies to expand their investment in the nation’s Saemangeum projects during a meeting hosted by China’s Jiangsu government on Monday with the aim of boosting ties in trade and investment. On Monday afternoon, Industry Minister Sung Yun-mo and Jiangsu Party Secretary Lou Qinjian met in Seoul to discuss mutual cooperation in the areas of industry, trade and investment. During the meeting, accompanied by t

IndustryMay 27, 2019

South Korea fears collateral damage from US-Huawei fight

 　With the US government ramping up pressure on its allies to reject Huawei Technologies equipment for its 5G cellular networks, South Korea is struggling to come up with a response amid the escalating conflicts between the world’s two superpowers. 　The Trump administration has reportedly urged the Korean government to prevent companies from purchasing Huawei’s equipment. Citing LG Uplus as an example, an unnamed State Department official has demanded a halt to the mobile carrie

TechnologyMay 27, 2019

Canadian director brings monodrama about Quebec childhood to Korea

Canadian theater artist, director and actor Robert Lepage is presenting the production “887” for the first time in Seoul. The piece sheds light on the Quebec separatist movement from his own experience of living as a member of a Francophone family. The production is a work of “autofiction,” Lepage said during a press conference Monday at the Embassy of Canada to Korea. “887” runs between Wednesday and June 2 at the LG Arts Center in Gangnam-gu, Seoul. The arti

PerformanceMay 27, 2019

Environmental issues are security issues: experts

Environmental issues must be approached as security issues, experts attending the International Security Symposium on Environmental Challenges and Solutions said. The event, organized by the Center for Security Policy Studies of George Mason University Korea and George Mason University, was held in Incheon on May 22.  “Climate change and environmental challenges now need to be addressed as security issues,” said Ellen Laipson, a former intelligence adviser to US President Barack

Social AffairsMay 27, 2019

International Youth Fellowship holds culture expo

More than 120,000 visitors attended the 2019 Culture expo organized by the Good News Corps, the International Youth Fellowship said Monday. Good News Corps is an international volunteer program organized by the International Youth Fellowships, a Christian nongovernmental organization.  According to the International Youth Fellowship, the event was organized by 250 Good News Corps members who took part in education, religious and cultural volunteer projects across 95 countries over one year.

Social AffairsMay 27, 2019

Trump says US and NK have ‘respect,’ downplays concerns

US President Donald Trump on Monday reiterated his view that progress had been made with North Korea, saying the US and the North had built mutual respect. Speaking ahead of his summit with Japanese Prime Minister Shinzo Abe in Tokyo, Trump predicted “good things” for North Korean issues.  “We’ve come a long way, there’s been no rocket testing, there’s been no nuclear testing, there’s been very little activity from that standpoint, we’ve come

North KoreaMay 27, 2019

SK Innovation brushes off LG Chem suit, pushes for battery biz

SK Innovation, South Korea’s top oil refiner and third player in the electric battery market, announced Monday the company will expand its EV battery production capacity 20-fold by 2025, shrugging off concerns about a legal issue raised by competitor LG Chem. During a press conference on the firm’s growth plan, SK Innovation CEO Kim Jun said the company was planning to ramp up its annual battery output from the current 5 gigawatt-hours to 100 GWh by 2025 with an aim to maintain its o

TechnologyMay 27, 2019