[India Forum] Daewoo E&C vows to build Koreatown in Haryana

GURUGRAM, India -- Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Media Group, expressed his hopes to establish India’s first Koreatown, the hub of Korean culture and commerce, in a meeting with high-profile Indian government officials. On Thursday, Jung met with Nayab Singh Saini, the chief minister of Haryana, to discuss the bilateral partnership between Korea and India. Haryana, a state in north-central India, surrounds Delhi on three sides

IndustryNov. 26, 2024

[India Forum] Tapping into young, growing population

NEW DELHI, India -- Korea’s leading asset manager Mirae Asset Global Investments has been rapidly expanding its presence in the Indian market, riding on the country’s strong “appetite for Korean businesses.” Recognizing the country’s growth potential, the company was the first of its peers to enter the Indian market, setting up an office in Mumbai in 2006. “When Mirae Asset came to India, it was a 100 percent foreign-owned equity,” Shrinivas Khanolkar, h

IndustryNov. 26, 2024

Seoul Mayor denies ties with political broker

Seoul Mayor Oh Se-hoon on Tuesday refuted allegations that he received help during the 2021 Seoul mayoral by-election from Myung Tae-kyun, a self-proclaimed power broker at the center of a growing political scandal. With a background in public opinion polling, Myung Tae-kyun has claimed he supported Oh's victory by providing polling data and strategic advice. Speaking at a press briefing at City Hall on Tuesday, Oh denied ever commissioning polls from Myung or receiving any related data. Th

PoliticsNov. 26, 2024

[India Forum] India, more than a manufacturing hub

NEW DELHI -- The India-Korea Business Partnership Forum 2024 held at the Yashobhoomi convention center in New Delhi on Friday highlighted India’s potential to grow as more than a manufacturing hub. South Korean tech behemoth Samsung Electronics believes Indian talent will drive innovation to take the country a step further on the global stage. “Samsung was one of the first companies to realize India's potential as a manufacturing powerhouse. Each state represents a diverse mic

IndustryNov. 26, 2024

[India Forum] Korea, India seek to maximize synergy at Delhi business forum

NEW DELHI -- South Korea and India have significant untapped potential for developing trade and economic cooperation in a wide range of areas, experts said at a forum in India on Friday. To commemorate the 51st anniversary of diplomatic relations between Korea and India, the Korea-India Business Partnership Forum took place at Yashobhoomi in New Delhi, with more than 600 government officials, business leaders, and cultural and artistic figures from both countries in attendance. A complementary m

EconomyNov. 26, 2024

Seoul shares fall on profit taking, Trump tariff warning

South Korean stocks fell Tuesday as investors sat on the sidelines following sharp gains the previous session, with US President-elect Donald Trump vowing tariffs on imports from Canada, Mexico and China. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 13.98 points, or 0.55 percent, to close at 2,520.36, ending a two-day winning streak. Trade volume was moderate at 434.77 million shares worth 8.51 trillion won (US$6.09 billion), with winners ou

MarketNov. 26, 2024

N. Korea may officially declare troop deployments to Russia: Seoul

North Korea may officially acknowledge its troop deployments to Russia to secure strategic gains by formalizing its role as an official war participant amid mounting internal challenges in concealing such actions, the Unification Ministry in Seoul said Tuesday. The ministry suggested Seoul detected "signs of unease" within North Korean society, as rumors, including accounts of families in tears, have surfaced and spread despite Pyongyang's efforts to keep its troop deployment to R

North KoreaNov. 26, 2024

K-pop fandoms wield growing influence over industry decisions

K-pop fans have transitioned from enthusiastic supporters to influential stakeholders in the industry, shaping not only the success of idols but also the decisions of major entertainment companies. Through social media, fans have amplified their collective power, helping their favorite artists promote albums and top global music charts by purchasing multiple copies and streaming songs on platforms like Spotify. This increasing influence has compelled entertainment agencies to adapt their strateg

K-popNov. 26, 2024

Hurdle cleared for high-rise reconstruction of iconic Apgujeong apartments

Seoul’s iconic yet aging Apgujeong Hyundai Apartments, located in the heart of Gangnam, look likely to be replaced by a towering residential complex, rising up to 70 floors, under an urban planning plan approved by the city government. According to the Seoul Metropolitan Government on Tuesday, the city’s Urban Planning Committee approved an eased maximum floor ratio of 300 percent for residential complexes aged over 50 years in the southern Seoul districts, including Apgujeong Hyun

Social AffairsNov. 26, 2024

North Korea cuts off power supplies to shuttered inter-Korean industrial park

North Korea has been dismantling power lines installed just north of the shared border with the South from Sunday in the latest of a series of demolitions of past inter-Korean peace efforts. According to South Korea’s Joint Chiefs of Staff on Tuesday, the North Korean military was spotted taking down power transmission systems on its side of the Military Demarcation Line dividing the Korean Peninsula. The JCS said the North Korean military cut off high-voltage wires from the transmission t

DefenseNov. 26, 2024

[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'

US President-elect Donald Trump is likely to use tariffs not only as a tool to protect American manufacturers but also as a way to ensure that trade negotiations are fair and expedited, a top Washington lobbyist says. “Trump has several administrative avenues to implement tariffs and his suggestion of a 10 percent universal tariff on all imports is still a possibility,” Brian Ballard, president of the Washington lobbying firm Ballard Partners, told The Korea Herald in a written inter

IndustryNov. 26, 2024

Legendary avant-garde director Robert Wilson on the power of silence

The lecture had begun, but the 83-year-old director stood silently at the lectern on the stage in the 500-seat auditorium. He looked straight ahead, occasionally turning his gaze to observe the audience. The weight of the silence filled the space. Only after five full minutes did he finally speak, breaking the tension with a brief greeting. A wave of relief and small laughter rippled through the audience. Robert Wilson, the legendary avant-garde theater director and one of the most innovative vi

PerformanceNov. 26, 2024

Samsung entangled in legal risks amid calls for drastic reform

As Samsung Electronics is grappling with multiple challenges including poor earnings and technological setbacks, the conglomerate's chaebol chief has publicly acknowledged the struggles for the first time. With chairman Lee Jae-yong pledging to tackle the difficulties, the tech giant is expected to introduce some drastic changes, including a major personnel reshuffle anticipated this week. In the final hearing of a retrial on allegations including stock manipulation related to a controversi

IndustryNov. 26, 2024

[Herald Interview] Composer Shin Dong-hoon, once aspiring novelist, shares inspirations behind his work

On Monday, the BBC Scottish Symphony Orchestra and cellist Han Jae-min will kick off the inaugural Korean edition of London’s leading summer festival BBC Proms, a week-long festival of classical music, choral music and music from West End musicals. South Korean composer Chin Un-suk’s “Subito Con Forza" ("Suddenly With Power") written in 2020 will open Monday's concert, followed by “Nachtergebung” (“Surrender to the Night”), a cello co

CultureNov. 26, 2024

18 injured in motel fire in Hwaseong

Eighteen people were injured Monday after a motel caught fire in Bongdam-eup, Hwaseong, Gyeonggi Province, according to local media. One person was found on the second floor in a state of cardiac arrest, but recovered. The fire reportedly began on the first floor of the four-story building at 10 p.m., but the smoke quickly spread to the entire building. At the time, 22 people were staying in the motel and many of them were foreign workers at a nearby employer who was using the motel to accommoda

Social AffairsNov. 26, 2024

[Photo News] Empowering women leaders

Hana Financial Group held the fourth edition of its "Hana Waves" conference on Monday to empower female leaders within the organization. Launched in 2021, the program aims to enhance women's leadership capacities and increase their presence, driving innovation through their actions, voices and emotions. Monday's conference, which marked the conclusion of the program's monthslong journey, was attended by Group Chairman Ham Young-joo. In the photo, Ham (front row, eighth f

IndustryNov. 26, 2024

Man who demanded settlement from Son Heung-min's father gets suspended term in separate case

A 44-year-old man, who had asked soccer superstar Son Heung-min's father Son Woong-jung for a settlement related to the elder Son's child abuse accusation, recently received a suspended jail term for false accusation and stalking in a separate case. The appellate division of the Incheon District Court on Nov. 15 upheld an earlier court ruling that sentenced the defendant, surnamed Kim, to 18 months in prison, suspended for three years, for stalking and false accusation against multip

Social AffairsNov. 26, 2024

K-pop star Psy's home temporarily seized due to penalty arrears

Singer Psy recently had his luxury home in Seoul temporarily seized by authorities after he failed to pay an administrative penalty imposed by the district office, local media outlets reported Monday. According to a report by Biz Hankook, the 46-year-old's home located in Yongsan-gu, Seoul, was recently reported to the district office for an illegal modification. The home is a unit in a luxury apartment complex in the affluent Hannam-dong district, in which the star's family has live

Social AffairsNov. 26, 2024

Jung's paternity reveal exposes where Korea stands on extramarital babies

Actor Jung Woo-sung’s recent admission that he fathered a child with model Moon Ga-bi has reignited conversations in South Korea about societal attitudes toward children born out of wedlock. While Jung pledged to fulfill his responsibilities as a father without pursuing marriage, the public response has been largely critical, highlighting the nation’s deeply conservative stance on non-traditional family structures. Many online users criticized Jung for his decision not to marry Moo

Social AffairsNov. 26, 2024