[Newsmaker] Samsung starts producing washing machines in US

Samsung Electronics announced Sunday it has kicked off commercial production of its first US-based home appliance manufacturing facility in Newberry County, South Carolina, a move that hopes to reduce the burden of possible punitive tariffs by the US trade authority. The company held a ceremony in Newberry to celebrate the official launch of the first US factory Friday. The event was attended by Samsung’s consumer electronics division President Kim Hyun-suk, South Carolina Gov. Henry McMaster an

IndustryJan. 14, 2018

[Newsmaker] Ministries stand at odds over cryptocurrency regulations

South Korea’s government came under fire Friday for sending out confusing policy signals on bubble-prone cryptocurrency transactions, vexing investors and paralyzing market functions.While the Ministry of Justice reiterated its latest pledge to seek for the shutdown of cryptocurrency operators, the presidential office Cheong Wa Dae and the Ministry of Strategy and Finance put the brakes on drastic actions in an attempt to steady the market.“The shutdown of (cryptocurrency) exchanges,

MarketJan. 12, 2018

[Newsmaker] LG to shift strategy on money-losing smartphones

LAS VEGAS -- LG Electronics’ chief said it will no longer set a regular timeline to launch smartphones as it has done over the past years, in an apparent strategic move to help its struggling smartphone business, which has been losing money for 11 straight quarters. “We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do,” said LG Electronics Vice Chairman Cho Sung-jin on Wednesday during a press conference at the Consumer Electronics Show in Las

TechnologyJan. 11, 2018

[Newsmaker] S. Korea faces balancing act between sanctions, support for NK joining Olympics

With North Korea set to join next month's Winter Olympics in the South, the Seoul government appears to be struggling with how to accommodate a large-scale delegation of North Korean officials and athletes without violating multiple-layered sanctions against Pyongyang.Some say that the government should consider easing sanctions temporarily as a way to facilitate a thaw in inter-Korean relations through the sporting event. There are still calls to not go so far as to undermine the international

North KoreaJan. 11, 2018

[Newsmaker] Hyundai heir calls THAAD crisis opportunity in disguise

LAS VEGAS -- For Hyundai Motor Group, 2017 was a nightmare. The South Korean carmaker’s sales in China, the automaker’s biggest market, plummeted more than 50 percent due to a near-boycott movement among local customers amid a diplomatic row over Seoul’s decision to deploy the US’ Terminal High Altitude Area Defense anti-missile system. Many described the situation as an unprecedented crisis for Hyundai, which has been on a rollercoaster ride since the early 2000s. Chung Eui-sun, heir to the wor

MobilityJan. 10, 2018

[Newsmaker] Seoul to abide by 2015 'comfort women' deal

The South Korean government said Tuesday that it will not seek to renegotiate the 2015 Korea-Japan deal on Korean victims of Japan’s wartime sexual enslavement, but reiterated that the controversial agreement cannot resolve the “comfort women” issue.　Sticking to the deal under which Japan apologized to the victims and provided 1 billion yen ($8.8 million) to a fund to support them, the Foreign Ministry said that it will replace Japan’s money for the victims from the government’s budget. 　“We can

PoliticsJan. 9, 2018

[Newsmaker] Intel chief says chip flaw damage contained by industry

Intel chief Brian Krzanich said Monday the impact of a recently discovered vulnerability in computer chips has been limited due to "remarkable" collaboration by the tech industry.Krzanich took the unusual step of addressing the security issue as he delivered a keynote ahead of the opening of the huge Consumer Electronics Show in Las Vegas, an industry event expected to draw some 180,000 people from the sector. Intel chief Brian Krzanich (AFP)As yet, Krzanich said, there is no information to sugg

TechnologyJan. 9, 2018

[Newsmaker] Inter-Korean talks to focus on PyeongChang, easing tensions

South Korea is expected to focus on North Korea’s participation in the PyeongChang Olympics, while seeking to ease tensions on the Korean Peninsula during Tuesday’s inter-Korean meeting.Last week, North Korea accepted South Korea’s offer to hold their first high-level talks in more than two years. The meeting will take place at 10 a.m. on Tuesday at the truce village of Panmunjeom near the border after the North Korean delegates cross the military demarcation line around 9:30 a.m., according to

North KoreaJan. 8, 2018

[Newsmaker] South Korea’s environmental quality among worst in OECD

South Korea’s environmental quality, particularly air quality, is among the worst in the Organization for Economic Cooperation and Development, according to its latest report. Seoul’s Namsan Tower is blanketed in thick smoke. (Yonhap)The report, titled “How’s Life,” pinpoints that Korea’s long-term unemployment rate also marks the lowest in the OECD, while labor market insecurity is also low. The country’s life expectancy at birth is high, at 82 years, but barely a third of people consider their

Social AffairsJan. 7, 2018

[Newsmaker] Young mobile shoppers spending more on small pleasures: data

Young mobile shoppers in their 20s and 30s are increasingly choosing to open their wallets for products and services that offer small, instant pleasures rather than self-improvement products, data showed this week.According to social commerce firm Tmon, sales over the past two months shifted from self-improvement products such as health supplements and exercise equipment associated with New Year‘s resolutions to items that offer entertainment.In particular, board games and remote-controlled elec

IndustryJan. 5, 2018

[Newsmaker] Who is Ri Son-gwon, NK messenger of hotline's revival

North Korea’s announcement of its willingness to revive an inter-Korean hotline was delivered by a man viewed as one of the regime’s key military negotiators. Ri Son-gwon, chairman of the Committee for the Peaceful Reunification of the Country of the DPRK, reads a statement on North Korea`s state-run broadcaster Korean Central Television on Wednesday. (Yonhap)On Wednesday, Ri Son-gwon, chairman of North Korea’s Committee for Peaceful Reunification, spoke on behalf of Kim Jong-un, saying North Ko

North KoreaJan. 4, 2018

[Newsmaker] WHO’s labeling of gaming addiction as a disorder sparks concern in Korea

The World Health Organization’s latest decision to classify gaming addiction as an official mental health disorder this year has ignited an international controversy. 　The issue is gaining particular attention in South Korea -- home to a strong gaming industry and an avid gaming population -- which has long been caught between the responsibility to fight adolescent game addiction and the need to promote the country’s thriving gaming sector.　Last week, the WHO revealed plans to recognize “gaming

TechnologyJan. 3, 2018

[Newsmaker] Two minor opposition parties speed up merger process

South Korea’s two minor parties are speeding up their merger process, following the People‘s Party’s all-member vote that favored the proposed merger with Bareun Party.In the four-day vote of confidence for Chairman Ahn Cheol-soo, who proposed the merger with the center-right Bareun Party, 74.6 percent voted for Ahn, while 25.6 percent opposed, the party’s election committee announced on Sunday. Ahn vowed to take the lead in creating a new party that would bring changes to South Korean politics.

PoliticsJan. 2, 2018

[Newsmaker] NK leader says nuclear button always on his desk

　North Korean leader Kim Jong-un warned Monday that his country’s nuclear arsenal was complete and the launch button was always on his desk, even as he expressed a willingness to send a delegation to the upcoming PyeongChang Olympics. 　In his nationally televised New Year’s speech, the young leader claimed the country had mastered full-fledged nuclear force and deterrence capability against the US, as the Trump administration threatened military actions on the North’s nuclear and missile facilit

North KoreaJan. 1, 2018

[Newsmaker] Panamanian vessel probed over suspected oil supplies to N. Korea

PYEONGTAEK  -- South Korea has seized and inspected a Panama-flagged ship suspected of selling oil to North Korea at sea in violation of U.N. sanctions, maritimeauthorities said.   The 5,100-ton KOTI is being held in the western port of Pyeongtaek-Dangjin, Gyeonggi Province. Security and customs officials held a meeting on Dec. 21 and decided not to allow the vessel to depart from the port, the local maritime office said.  File photo of Pyeongtaek Harbor (Yonhap)It is the second known vessel und

North KoreaDec. 31, 2017

[Newsmaker] NK nuclear scientist takes own life after failing to defect

A North Korean nuclear scientist, who was caught in China while attempting to defect to South Korea, took his own life after he was forced to return home, a US broadcaster said Friday. According to Radio Free Asia, the defector who was a researcher at the physics center of the State Academy of Sciences in Pyongyang took poison in a state security cell while awaiting interrogation. (Yonhap)“He killed himself only a few hours after he was placed in solitary confinement at the State Security Depart

North KoreaDec. 29, 2017

[Newsmaker] Korea's Drug Ministry confirms safety of locally-sold sanitary pads

South Korea’s Ministry of Food and Drug Safety on Thursday concluded that the level of chemical substances found in sanitary pads sold here are not hazardous to the human body. The conclusion came after the ministry conducted toxicity tests on sanitary pads, tampons, panty liners and diapers sold in Korea to check for levels of 74 volatile organic compounds such as cholorobenzene and acetone.“After conducting reviews and toxicity tests on 74 VOCs found in sanitary pads, we’ve concluded that thei

IndustryDec. 28, 2017

[Newsmaker] Will Samsung unveil foldable phones next year?

Anticipation is rising over Samsung’s foldable smartphone, with concept images and videos of the so-called Galaxy X making the rounds every month. However, industry insiders are cautious about the high expectations, saying there are still many unaddressed technical challenges. A new concept video of the Galaxy X from US tech media outlet Tech Configuration caught attention Wednesday. It showed that the device’s 5-inch display can be used as a normal smartphone in the folded mode and as an 8-inch

TechnologyDec. 27, 2017

[Newsmaker] SK Chairman Chey seeks sharing economy

The sharing economy can simply refer to well-known platforms like Uber and Airbnb, or in the broader sense of all democratized marketplaces. Unlike its vibrant use in North America, though, the term remains relatively unfamiliar to the public here. Now a Korean chaebol is seeking to bring this economic concept to life in the South Korean market.Chey Tae-won, the chairman of telecom and energy giant SK Group and the nation‘s fifth-richest man, according to The Investor, has been pursuing ways to

IndustryDec. 26, 2017

[Newsmaker] South Korean gyms face scrutiny after Jecheon deadly fire

South Korean police looking into the deadly fire that killed 29 people at a fitness center in Jecheon, North Chungcheong Province, are set to request an arrest warrant Tuesday morning for the building’s managers, who allegedly violated fire safety rules, according to a police official on Monday.Visitors pay their respects to the 29 victims of Thursday’s fire in Jecheon, North Chungcheong Province, at a memorial set up in Jecheon Gymnasium on Sunday. YonhapEarlier Monday, police raided the homes

Social AffairsDec. 25, 2017