Binding plastic pollution treaty unlikely: ministry

With less than a week left for the Intergovernmental Negotiating Committee to develop an international, legally binding instrument on plastic pollution at its fifth and final session, the Ministry of Environment told the press Wednesday that reaching a deal “could be difficult.” "Out of the five scheduled rounds of negotiations, four have been completed,” said an Environment Ministry official. “However, the process remains deadlocked due to sharp conflict between cou

Social AffairsNov. 20, 2024

Seoul stocks rise for 3rd day ahead of Nvidia results

South Korean stocks extended their winning streak to the third straight day Wednesday as investors awaited the third-quarter earnings of US AI chip giant Nvidia. The local currency remained unchanged against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 10.34 points, or 0.42 percent, to close at 2,482.29. Trade volume was moderate at 400.3 million shares worth 7.7 trillion won ($5.53 billion), with gainers closely outpacing losers 435 to 420. Foreigners and individ

MarketNov. 20, 2024

IMF lowers Korea's 2025 growth outlook to 2%

The International Monetary Fund on Wednesday lowered its economic growth forecast for South Korea to 2 percent next year, down from 2.2 percent projected in October, citing high uncertainties and weak domestic demand. The announcement came after a team of IMF officials led by Korea mission chief Rahul Anand made a two-week visit to Seoul for an annual country meeting with the finance ministry, the Bank of Korea and other institutions to discuss the country's economic policy measures. "

EconomyNov. 20, 2024

Japan to hold 1st memorial for Korean forced labor victims at Sado mine

The first official memorial ceremony honoring Korean victims of forced labor at the gold mines on Sado Island during Japan's colonial rule from 1910 to 1945 will be held in Sado on Sunday, attended by South Korean and Japanese government officials and bereaved families of the victims. South Korea’s Foreign Ministry and Japan’s executive committee for the Sado Mine memorial jointly announced Wednesday that the event, officially titled the "Sado Mine Memorial Ceremony,"

Foreign AffairsNov. 20, 2024

[Herald Interview] How Gopizza got big in India

South Korean pizza chain Gopizza is strengthening its foothold in the Indian market by blending food technology with the distinct flavors of Korean cuisine, offering a fresh take on the classic pizza experience. Founded in 2016 as a single-serving pizza concept aimed at making pizza more accessible, Gopizza entered the Indian market in 2019, tailoring its approach to meet the distinct preferences of Indian consumers. "We currently operate 60 stores across southern India and plan to expand

IndustryNov. 20, 2024

Young composers add traditional music flavor to 20-year-old game

The National Orchestra of Korea, dedicated to contemporary interpretations of traditional Korean music, is bringing back a program gaining popularity among gamers -- the soundtracks of hit games reimagined using traditional Korean instruments. Two previous collaborations with game developers were presented in the “Soso Music Concert” series, aimed at children and young people, featuring mobile games such as "Cookie Run: Kingdom" in 2021 and 2022, and "Crazyracing Kar

CultureNov. 20, 2024

S. Korea sees second-highest immigration surge in OECD

Immigration of a permanent type to South Korea jumped by 50.9 percent last year, the second biggest surge among the 38 member countries in the Organization for Economic Cooperation and Development. In an OECD report titled “International Migration Outlook 2024,” released last week, a record 6.5 million people moved to the 38 high-income countries committed to democracy which make up the OECD last year, up 10 percent from 2022. The United States was the top destination country, adding

Social AffairsNov. 20, 2024

Illegal gambling franchise busted, over 700 under investigation

South Korean police said Wednesday they are pursuing criminal charges against 715 individuals related to a nationwide illegal gambling operation, which is thought to have brought in around 100 billion won ($72 million) in revenue. Busan Metropolitan Police Agency arrested seven individuals suspected of running a poker-themed bar franchise with 15 local branches across the country that conducted an illegal gambling operation from March 2021 to April this year. The others are being investigated wi

Social AffairsNov. 20, 2024

Doctor eases pain of tattoo regrets

At a gathering of people with striking facial and body tattoos, a middle-aged man wearing fake tattoo sleeves attempts to blend in. That’s Dr. Park Young-soo, filming for his popular YouTube channel at the Korea Tattoo Convention in Seoul, a major event for tattoo artists in South Korea. He’s there to learn about the latest trends and interact with people from the opposite side of his profession -- removing tattoos. Every day, he meets people who regret their tattoos and seek removal

Hashtag KoreaNov. 20, 2024

Supreme Court hands down maximum prison term for 'jeonse' fraudster

A 50-year-old woman was sentenced to 15 years in prison for orchestrating a massive real estate scam that defrauded 229 tenants out of 18 billion won ($13 million) in deposits entrusted to her under the "jeonse" lump-sum lease system. The Supreme Court’s First Division upheld a lower court’s ruling on Wednesday, confirming the 15-year prison sentence for Choi, who was convicted of fraud and other charges. This marks the Supreme Court's first definitive ruling in a larg

Social AffairsNov. 20, 2024

Student artists show traditional Korean attire in Berlin

Over 80 items of traditional Korean attire including hanbok will be exhibited at the Free University of Berlin from Friday to Jan. 17. The exhibition is a project by the state-run Korea National University of Heritage. The “Korean Traditional Attire, Hanbok: Art of Dignified Manner” exhibition will feature not only everyday attire like hanbok, but uniforms worn by royals and a large collection of fabrics used for each season, such as silk and ramie. The items on display have all been

Arts & DesignNov. 20, 2024

Labor Ministry dismisses Hanni harassment case

The Ministry of Employment and Labor has ruled that allegations of workplace harassment involving Hanni, a Vietnamese Australian member of K-pop girl group NewJeans, do not fall under labor law protections, as she is not classified as a worker under the Labor Standards Act. On Wednesday, the ministry announced the closure of a complaint filed last month by NewJeans’ fan base, known as "Bunnies," which alleged that Hanni was subjected to workplace harassment at Hybe’s headqu

K-popNov. 20, 2024

Former Ador CEO Min Hee-jin quits Hybe, declares legal war

Min Hee-jin, former CEO of Hybe subsidiary Ador, announced on Wednesday her resignation from her post as an internal director at Ador, signaling a complete departure from Hybe. She also declared her intent to take legal action against the K-pop powerhouse, accusing the company of breaching shareholder agreements and engaging in unlawful practices. “I have decided to resign as an internal director of Ador today,” Min said in a statement. “I will terminate my shareholder agreemen

K-popNov. 20, 2024

North Korean troops fighting alongside Russia, NIS confirms

North Korean troops are mobilized on the Russian front lines fighting Ukraine, according to a South Korean intelligence agency briefing presented to lawmakers Wednesday. Around 11,000 North Korean troops, many of them part of special forces, had already been trained and deployed to Russia’s Kursk region near the border with Ukraine by late October, Rep. Park Sun-won told reporters. Park, who sits as the deputy chair of the National Assembly intelligence committee, was speaking after he was

PoliticsNov. 20, 2024

Hanwha, HD Hyundai chiefs welcome second Trump era

As Korean industries brace for a second nonconsecutive term of US President-elect Donald Trump, leaders of Korean defense and shipbuilding companies – namely Hanwha Group and HD Hyundai – are enhancing readiness to seize new growth opportunities. Hanwha Group Chairman Kim Seung-youn, in the process of passing the leadership baton to his sons, took on the role of chairman of Hanwha Aerospace, a key defense subsidiary of the group, last week. The move solidifies Kim's leadership i

IndustryNov. 20, 2024

Music performances to end the year on high note

As the year-end draws near, there are major music awards to look forward to here, where the most talented and popular artists are rewarded for their work and fans are rewarded with witnessing first-ever collaboration stages and spectacular performances. This year's Mnet Asian Music Awards, the world’s largest K-pop awards ceremony organized by CJ ENM, is the frontrunner, taking place at Hollywood’s Dolby Theatre in Los Angeles Thursday local time, and at the Kyocera Dome Osaka,

K-popNov. 20, 2024

Coway unveils winter-ready home appliances

South Korean home appliance maker Coway has introduced new products designed to improve indoor air quality and provide personal comfort during the winter season. The Dual Clean Humidifier Air Purifier, one of Coway’s flagship products, is designed to tackle dry indoor air and poor air quality in winter. According to Coway, the device integrates a four-stage filtration system -- featuring a pre-filter, air matching filter, deodorization filter and fine dust collection filter -- to remove up

CompaniesNov. 20, 2024

Posco shuts down wire rod mill on oversupply concerns

South Korean steel giant Posco Group said Wednesday that it will shut down a wire rod mill at its steelworks in Pohang, North Gyeongsang Province, citing global oversupply. The company explained that the decision reflects recent market challenges, including the ongoing global steel surplus, aging facilities, and the impact of China’s low-cost exports. According to Posco, the global wire rod market in 2023 had a production capacity of approximately 200 million metric tons, while demand reac

CompaniesNov. 20, 2024

Samsung Biologics hits W5tr in annual orders

Samsung Biologics said Wednesday that its cumulative orders this year have exceeded 5 trillion won ($3.59 billion), driven by consecutive large-scale deals with global pharmaceutical companies. In a regulatory filing, the company announced two new contract manufacturing agreements with a European pharmaceutical firm worth a combined 930.4 billion won. While specific product details remain undisclosed, the contracts will run through December 2031. As of November, Samsung Biologics has secured 11

CompaniesNov. 20, 2024

[KH Explains] Dissecting Hyundai Motor's lobbying in US

Hyundai Motor Group is on track to report record-high spending for lobbying in the United States this year as the Korean auto conglomerate continues to ramp up its presence and influence in Washington, DC According to OpenSecrets, a Washington, DC-based nonprofit, nonpartisan organization that tracks and publishes data on campaign finance and lobbying, Hyundai Motor Company and Kia -- the two automakers under Hyundai Motor Group -- have spent $2.51 million on lobbying in the US as of the third q

MobilityNov. 20, 2024