Korea, Britain finance chiefs discuss economic dialogue, investment ties

The finance ministers of South Korea and Britain on Tuesday discussed the establishment of a bilateral economic dialogue and investment cooperation channels as follow-up measures to last month's summit of their leaders, Seoul's finance ministry said. During a video conference with Britain's Chancellor of the Exchequer Jeremy Richard Streynsham Hunt, South Korea's Finance Minister Choo Kyung-ho voiced expectations for stronger bilateral cooperation on energy, supply chains a

EconomyDec. 5, 2023

[Herald Review] Musical 'Yujin and Yujin' captivates Taiwanese audience

Taipei, TAIWAN -- On Nov. 25, about 160 seats of the Experimental Theater at the National Theater & Concert Hall in Taipei, Taiwan were full. In front of the audience were two Taiwanese actresses -- Da Tian and Lee Ling-Wei -- and a cello and piano duo. The actresses sitting facing the audience on two simple chairs turned into two characters, both named Yujin: "Big Yujin" and "Little Yujin." With their lines and dramatic songs, the two actresses led the audience into th

PerformanceDec. 5, 2023

'Making economy more dynamic a top priority': finance minister nominee

South Korea's finance minister nominee on Tuesday said strengthening economic stabilization efforts for citizens' livelihoods while continuing the government's drive for reform would be the key priorities under his leadership. Choi Sang-mok, the nominee for the country’s top economic policymaker, made the remark during his first gathering with the local press Tuesday, following his nomination by the presidential office Monday. The former senior presidential secretary for eco

EconomyDec. 5, 2023

[Herald Interview] Lee Eung-bok expresses 'Korean spirit' of monster horror in 'Sweet Home'

The star director of hit Korean TV dramas "Guardian: The Lonely and Great God" (2016) and "Mr. Sunshine" (2018), Lee Eung-bok is back with the much-awaited second season of Netflix's "Sweet Home." Lee's first season of "Sweet Home," a 10-part Netflix original series, gained a global following in 2020, making it to the Netflix US top 10 list as the first Korean TV drama to do so. "When I decided to direct 'Sweet Home', I didn't

FilmDec. 5, 2023

Lucy returns with 'Boogie Man'

Lucy is back with "Boogie Man." The K-pop rock band, which has continued its musical transformation since debuting in 2019, dropped the new single album Tuesday evening. The titular "Boogie Man" is an emo pop song with a mysterious atmosphere, straying from the refreshing energy Lucy has been known for. The funky yet intense rock sounds are a new attempt, but the sounds of Shin Ye-chan's violin revel in Lucy's unique quality. The boogie man of the song refers to ano

K-popDec. 5, 2023

Requirements for zoo licenses set to be toughened

The Ministry of Environment said on Tuesday that the ministry will toughen requirements for zoo and aquarium licenses as part of efforts to ensure the welfare of animals at these facilities. According to an amendment to the Act on the Management of Zoos and Aquariums approved by the Cabinet on Tuesday, facilities must go through a separate licensing system following the requirements set by the ministry to operate as zoos and aquariums. To be licensed as a zoo or aquarium, the facilities must pro

Social AffairsDec. 5, 2023

Warmer winter temperatures expected this week

Temperatures are expected to become warmer this week compared to previous years, the Korea Meteorological Administration said Tuesday. “Over Tuesday and Wednesday, temperatures are expected to reach up to 12 degrees Celsius in Seoul,” said a KMA official. On average, low temperatures in South Korea were expected to reach up to 6 C on Tuesday morning, with high temperatures expected to rise to 16 C. Normally, temperatures at this time of the year are colder, with lows of around 4 C an

Social AffairsDec. 5, 2023

N. Korea closes 7 embassies, now down to 46, says Seoul

North Korea has closed seven embassies across Africa, Europe and Southwest Asia, reducing its total from 53 to 46, amid persistent challenges in earning hard currency abroad exacerbated by economic sanctions, South Korea's Foreign Ministry said Tuesday. Pyongyang has closed embassies in Guinea, Nepal, Bangladesh, Senegal, Spain, Angola and Uganda as of Tuesday. News about a series of embassy closures started emerging in October. But the Foreign Ministry disclosed the withdrawal of North Kor

Foreign AffairsDec. 5, 2023

McKinsey names 2 new partners at Seoul office

Global consulting firm McKinsey & Co. on Monday said it has promoted two associate partners, Kim Gi-hong and Moon Ho-joon, as partners. Having studied engineering at Seoul National University, Kim joined McKinsey & Co. in 2016 and has pursued a career across energy and infrastructure. Kim's experience involves leading diverse projects on strategic and practical proposals for oil refinery, petrochemical and construction businesses, and proposing management reforms for companies. Ki

CompaniesDec. 5, 2023

Left-leaning 'News Factory' sanctioned for calling president's English 'pretentious'

A top-rated, left-leaning news program formerly on broadcaster TBS has received an official warning for calling President Yoon Suk Yeol's English use "pretentious" last year, a matter decided by the state censor on Monday afternoon. The Korea Communications Standards Commission decided to issue a warning, which is the lowest of the statutory sanctions that can be issued by the state-run body. Any broadcaster that receives such a punishment can be penalized by the KCSC when applyin

PoliticsDec. 5, 2023

[Today’s K-pop] BTS’ V to appear in IU’s music video: report

V of BTS will appear in a music video for IU’s upcoming single, according to a local media report Tuesday. Management firms for both artists confirmed the news following the report. They have already finished shooting the visuals, said Edam Entertainment, adding that IU’s new album will be released in the first half of 2024. The shooting schedule was moved up as V is set to enlist in the military next week along with bandmates RM, Jimin and Jungkook. His label, Big Hit Music, announ

K-popDec. 5, 2023

South Korea unveils plan to tackle ailing mental health

South Korea on Tuesday rolled out a comprehensive plan to offer mental health checkups every two years for young Koreans aged 20 to 34 and other counseling services tailored to all age groups, in the first-ever detailed state policy aimed at tackling the country’s consistently high suicide rates. Korea has recorded the highest suicide rate among member nations of the Organization for Economic Cooperation and Development for almost 20 years, with 25.2 deaths per 100,000 people in 2022, more

Social AffairsDec. 5, 2023

[KH Explains] China ups OLED ante to take over Korean shares

China’s recent move to ramp up investment in organic light-emitting display panels is stoking fears among Korean display makers that they may face another fierce price war with their Chinese runner-ups, even over the most sophisticated display technology. Last week, China's top display panel maker, BOE Technology, announced a plan to invest 63 billion yuan ($8.84 billion) to build a production facility with 8.6-generation technology for OLED panels for laptops and tablet PCs. The amou

IndustryDec. 5, 2023

Drunk driver who killed father of two gets 10 years

A 49-year-old has been sentenced to 10 years in prison for killing a man in a drink driving incident, exceeding the Supreme Court's sentencing guidelines. The Incheon District Court on Tuesday handed down the sentence on account of the victim suffering from extensive pain due to his injuries before his death, and the defendant not being forgiven by the victim's family. The sentence is within the legally permitted limit, but higher than the range of punishment recommended by the state i

Social AffairsDec. 5, 2023

Lotte renews online grocery sales race with new mega facility

Lotte Shopping, the retail arm of Lotte Group, said Tuesday it is set to start the construction of a new logistics center in Busan in partnership with UK retail tech firm Ocado. Lotte held a groundbreaking ceremony for the new facility, called the Customer Fulfillment Center, which will be located on a 42,000 square-meter site within an industrial complex. As part of a partnership with Ocado signed in November last year, Lotte plans to adopt the UK firm’s artificial intelligence-based new

CompaniesDec. 5, 2023

Tire tycoon's family feud rekindled

A sibling feud over the management of Hankook & Co., the holding company behind the world’s sixth-largest tiremaker, Hankook Tire & Technology, has been reignited, as the older of the two brothers has joined hands with a major private equity house to shore up his stake. Asia's largest private equity firm MBK Partners announced through a regulatory filing Tuesday that it has launched a public tender for Hankook & Co., offering 20,000 won ($15.23) per share under a goal to

CompaniesDec. 5, 2023

Scalpers take bigger cut of Korean music industry

Kim Yeon-soo, 27, was able to get her hands on a resale ticket for her favorite artist's concert, but at twice the regular price. “I wanted to see the concert so badly, I searched social media and resale websites. Hundreds of tickets were up for sale at ridiculous prices," said Kim, an office worker. "It's upsetting to give money to scalpers who take advantage of fans’ desperation, but I didn’t have a choice." Ticket scalpers are one of the biggest head

CultureDec. 5, 2023