Confusion escalated Monday in the aftermath of World Health Organization’s adoption of video game addiction as an official disease.While South Korea’s Ministry of Welfare said it will form a body comprising relevant organizations including parents’ group, game industry, psychiatric experts and legal bodies by June to draw up new policies, the Ministry of Culture said it will raise objections to WHO’s decision.The 194 member states of WHO had unanimously agreed to adopt th

IndustryMay 27, 2019

South Korean companies listed on the main bourse saw their average debt-to-equity ratio up by nearly 6 percentage-points in the first quarter of the year, data showed Monday, with analysts citing poor corporate performance and implementation of new accounting standards. The average D/E ratio of 640 Kospi-listed firms, that end their fiscal year in December, increased 6.37 percentage points from the end of the year to 110.7 percent by end-March, according to data provided by the Korea Exchange, t

MarketMay 27, 2019

This year’s Seoul Jazz Festival drew nearly 40,000 music lovers for a weekend of fun, food and diverse music, though there appeared to be room for improvement. Running from Saturday to Sunday at the Olympic Park in southeastern Seoul, the 13th edition of the annual event featured 48 acts from Korea and abroad, such as 90-year-old Cuban jazz legend Portuondo and crossover band Clean Bandit. Live performances took place at five venues spread across the park.  Highlights of the event inc

PerformanceMay 27, 2019

Dream Key10z, a group of 10 talented Filipino-Korean children aged 8-15, shared a stage with high-profile K-pop groups, demonstrating their talent in dancing that impressed the audience. They’re called “DK10z” for short, where D stands for “dream, dance and diversity” and K for “key, kids and Korea”. Dream Key10z was formed by Korea Cultural Diversity Organization (CDO-Korea) and FILKOHA (Filipino Korean Heritage Association), a group founded in 201

PerformanceMay 27, 2019

Liberty Korea Party Chairman Hwang Kyo-ahn has mapped out a plan to launch a committee on economic development by the end of this month following the party’s controversial rallies held nationwide, the main opposition party said Monday.Claiming the country’s sluggish economy is due to the Moon Jae-in administration’s “economic tyranny,” Hwang said “factories that have stopped operations, empty shops and markets … were filled with despair and sighs.&rdquo

PoliticsMay 27, 2019

Sono Village and Sono Felice are offering promotional packages for foreigners that encompass discounts on rooms and other attractions available at the resorts.Under the promotion, the silver suite at Sono Village costs as low as 215,000 won, the gold suite A 241,000 won, the gold suite B 263,000 won and the royal deluxe room 282,000 won. It also comes with discount coupons for other facilities under Daemyung Resort, including the Ocean World water park, the K1 Speed kart racing track, Ant World,

TravelMay 27, 2019

The foreign ministry will convene a disciplinary panel later this week to decide on the penalty for a diplomat accused of leaking the contents of a phone conversation between President Moon Jae-in and US President Donald Trump to a lawmaker, a vice minister said Monday. The diplomat, who worked at the South Korean Embassy in Washington D.C., has been investigated over the allegation he handed over the contents of the phone call to Rep. Khang Hyo-shang of the main opposition Liberty Korea Party.

PoliticsMay 27, 2019

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed.After being desensitized for many years by virtually zero interest rates, one can suddenly earn a positive yield on cash again in many major currencies. While the rates may still not be terribly exciting -- 12-month USD Libor yields are now approximately 2.75 percent per annum, for example -- these yields can be seen by some as credible compet

MarketMay 27, 2019

Prize-winning South Korean novelist Han Kang has handed over a novel to the Norwegian public arts project "Future Library," with her writing to remain unpublished and unread for nearly a century.The 2016 winner of the Man Booker International prize for her novel "The Vegetarian" has been chosen as the fifth writer for the Norwegian project along with 99 renowned authors including English writer David Mitchell. Their works will be kept in secret and published a century later o

BooksMay 27, 2019

BRUSSELS (AP) -- The European Union's traditional center splintered in the hardest-fought European Parliament elections in decades, with the far right and pro-environment Greens gaining ground on Sunday after four days of a polarized vote.Turnout was at a two-decade high over the balloting across the 28 European Union countries. The elections were seen as a test of the influence of the nationalist, populist and hard-right movements that have swept the continent in recent years and impelled Brita

World NewsMay 27, 2019

The Cannes-winning film "Parasite" is on its way to creating a sensation in South Korea, as its presale tickets outnumbered big-name movies.With three days to go before the movie's opening, the data from the Korea Film Council showed that the flick has already sold more than 90,000 presale tickets as of Monday morning. That accounted for 42.3 percent of all tickets reserved as of 9:10 a.m., while Walt Disney's live-action film "Aladdin" posted 19.6 percent. Local crime action

FilmMay 27, 2019

French and Italian-US auto giants Renault and Fiat Chrysler are set to announce talks on an alliance, with a view to a potential merger, informed sources said on Sunday.Renault and FCA are likely to unveil the move "within hours, perhaps tomorrow (Monday), before the (Paris) bourse opens," one of the sources told AFP on condition of anonymity, adding an eventual "merger" was on the agenda.The same source added a statement would cover "the possibility of a convergence bet

World BusinessMay 26, 2019

Prem Tinsulanonda, who as an army commander, prime minister and adviser to the royal palace was one of Thailand’s most influential political figures over four decades, died Sunday at age 98.His death in a Bangkok hospital was announced by the government’s Public Relations Department. Never married, he leaves no family survivors. Thai Princess Sirindhorn will preside over his initial Buddhist funeral rites on Monday. Prem was best known for his long-standing devotion to the monarchy,

World NewsMay 26, 2019

A strong 8.0-earthquake struck northern Peru in the early hours of Sunday, sending residents fleeing their homes and cutting off power to at least one town, with the impact felt as far afield as neighboring Ecuador.There were no immediate reports of injuries following the quake which the US Geological Survey said struck at a depth of 110 kilometers (68 miles).  The quake hit at 2:41 a.m. local time about 75 kilometers southeast of the town of Lagunas, along the Amazon basin near the border

World NewsMay 26, 2019

GS Home Shopping, a leading home shopping channel operator here, said Sunday that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform that targets the Southeast Asian market.The deal marks GS Home Shopping's second such investment in an e-commerce startup based in Vietnam. In January this year, the South Korean company invested $3 million in another e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.Vietnam, one

TechnologyMay 26, 2019

Sales of e-cigarettes, electronic devices that simulate the experience of smoking a cigarette, have been rising in South Korea as more people make the switch from traditional cigarettes.According to data from the Ministry of Economy and Finance, e-cigarette sales accounted for 21.3 percent of all cigarette sales in Korea in March this year. In the first quarter of 2019, the figure was 10.9 percent.(khnews@heraldcorp.com)

IndustryMay 26, 2019

In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth internet-only banks.One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities.The Financial Services Commission said it accepted the recommendations of an independent evaluation committee that both consortia had put together inadequate bids. The outside evaluators said

MarketMay 26, 2019

　More than 20 million newborns in 2015 - one in seven - came into the world weighing too little, latest data showed.　Over 90 percent of babies tipping the scale at less than 2.5 kilograms when born were in low - and middle-income countries, researchers reported in Lancet Global Health.　Worldwide, just under 15 percent of 2015 newborns in the 148 countries canvassed had low birthweight, varying between 2.4 percent in Sweden and nearly 28 percent in Bangladesh. 　In sub-Saharan Africa, the number o

World NewsMay 26, 2019

The occupation of curator is not one that most people are familiar with -- many think it’s all about organizing and planning exhibitions.  Korean curator Lee Dae-hyung is someone who pushes the boundary of what a curator can do. Having started his career as an exhibition curator, Lee has contributed to many local art fairs, has done art consulting for corporations, was the director of the Korean Pavilion at the Venice Biennale in 2017 and is now the team leader of Hyundai Motor’

Arts & DesignMay 26, 2019