SPOTLIGHT

• Music

  

  BTS nominated in 4 categories of MTV 2019 Video Music Awards

  K-pop boy band BTS has been nominated for American TV channel MTV's 2019 Video Music Awards in four award categories, the TV channel's website showed Wednesday."Boy With Luv," BTS' latest single featuring Halsey, is competing in the best collaboration category for the fan-voted music awards whose final awards ceremony is set for Aug. 26 at New Jersey's Prudential Center.  The main track of "Map of the Soul: Persona" is also competing in three other categories: Best K-pop

• Social affairs

  

  Nation braces for protracted heat waves

  South Korea is bracing for sweltering heat waves in the coming weeks, with its southern provinces and many other regions suffering from an extended tropical night phenomenon, weather forecasters said Wednesday.As most parts of the country have been put under a heat wave warning or alert, the daily high temperature is expected to soar to 32 C in Seoul, 35 C in Daegu, 34 C in Gangneung and 33 C in Gwangju, according to the Korea Meteorological Administration. A heat wave warning was issued for Dae

• Music

  

  Trouble-ridden Jisan festival canceled 3 days before opening

  The 2019 Jisan Rock Festival was officially canceled Tuesday, as the ambitious attempt to revive the festival came to a sudden and screeching halt, much to the anger and confusion of fans.D2 Global Company, the organizer for the festival, said on its homepage earlier in the day that it had called off the event.“2019 Jisan Rock Festival was to be held for three days at Jisan Forest Resort on July 26-28, but we decided to cancel the event as it was not possible to hold the concerts,” t

• Television

  

  Kid YouTube star’s family buys $8m building in Gangnam

  The family company of a 6-year-old South Korean YouTube celebrity has garnered enough money to purchase a building in one of the richest areas of Seoul.According to a report from Maeil Business Newspaper on Tuesday, Boram Family -- the company that operates two YouTube channels featuring 6-year-old girl Boram -- bought a five-story building worth 9.5 billion won ($8.06 million) in Cheongdam-dong, Gangnam, in Seoul.Referring to the real estate brokerage industry, the daily newspaper said the buil

LATEST NEWS

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  Finance

  S. Korean investors favor Disney stocks among foreign stocks

  South Korea’s individual investors chose Walt Disney stocks as their favorite foreign stock, a poll showed Wednesday.The survey, conducted by local brokerage Samsung Securities, involved 484 investors that participated in its foreign stocks seminar. About 20.9 percent of the respondents chose the media giant in a question asking which foreign stocks they would purchase before heading off to their summer holidays.Microsoft ranked No. 2 with 15.1 percent and Amazon No. 3 with 10.3 perce

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  Defense

  KADIZ intrusions test security ties among S. Korea, US, Japan: experts

  The incursions by Chinese and Russian warplanes into South Korea's air defense zone this week appeared aimed at testing security ties between Seoul, Washington and Tokyo, analysts said Wednesday.On Tuesday, two Russian bombers and two Chinese bombers breached Korea's Air Defense Identification Zone, before a Russian early warning and control aircraft committed an unprecedented violation of the country's airspace.The KADIZ breaches came amid concerns that the spat between Seoul and Tokyo over Jap

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  Industry

  Samsung Bioepis gains FDA approval for Humira biosimilar

  Samsung Bioepis said Wednesday it has gained the US Food and Drug Administration’s approval for Hadlima, a biosimilar of AbbVie’s blockbuster autoimmune disease treatment Humira. This is the firm’s fourth biosimilar to get FDA approval, after Renflexis (Infliximab), Ontruzant (Trastuzumab) and Eticovo (Etanercept).Hadlima (adalimumab-bwwd) is developed by Samsung Bioepis and will be commercialized in the US by Merck from June 2023, according to a settlement with AbbVie.&nb

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  Defense

  Russia says airspace intrusion was not intended: Cheong

  Russia has told South Korea that the latest airspace intrusion by one of its warplanes was not intentional and was probably caused by a technical glitch, the presidential office Cheong Wa Dae said Wednesday. Expressing "deep regret" over the latest incident, Russia said that a technical problem probably caused the plane to intrude into areas it had not planned to go to."Russia said its defense ministry will immediately launch a probe and take necessary steps," Yoon Do-han, se

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  Music

  BTS' recent home concerts created economic effect worth nearly 500 b won: report

  K-pop boy band BTS' fan meetings and concerts in South Korea last month created an economic effect worth nearly 500 billion won ($424.2 million), an academic report showed Wednesday.According to the report by a research team led by Pyun Ju-hyun, a business professor at Seoul's Korea University, BTS spawned a total of 481.3 billion won in direct and indirect economic effect with its "BTS 5th Muster [Magic Shop]" performances held in Busan on June 15-16 and in Seoul on June 22-23. The tw

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  Foreign Policy

  Seoul again presses Tokyo not to implement additional export curbs

  South Korea on Wednesday repeated its call on Japan to scrap its planned measure to take Seoul off its list of trusted trading partners granted with preferential procedures for exports, warning it could undermine bilateral economic ties.Early this month, Japan implemented strict regulations for exports of three key materials to South Korea that are crucial for the production of chips and displays on the grounds that Seoul runs a lax system for the control of goods that can be diverted for milita

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  North Korea

  Chinese nationals, company indicted in US over NK sanctions evasion

  Four Chinese nationals and a Chinese company have been indicted on charges of helping North Korean entities involved in the proliferation of weapons of mass destruction, the US Department of Justice said Tuesday.A federal grand jury in Newark, New Jersey, charged Chinese businesswoman Ma Xiaohong, her company, Dandong Hongxiang Industrial Development Co. Ltd., and three of the company's top executives with violating sanctions and conspiring to defraud the US and launder money, the department sai

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  Foreign Policy

  US voices strong support for S. Korea, Japan after 'airspace incursions' by Russia, China

  The Pentagon on Tuesday expressed the United States' strong support for South Korea and Japan in their response to "airspace incursions" by Russian and Chinese warplanes.Its mention of Japan in response to a question about Tuesday's incident over South Korea's East Sea, however, could raise questions about its position on the longrunning territorial dispute between its two Asian allies.Earlier Tuesday, a Russian A-50 early warning and control aircraft trespassed twice into Korea's terr

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  Finance

  BOK chief says another rate cut possible

  Bank of Korea (BOK) Gov. Lee Ju-yeol hinted at an additional rate cut Tuesday, less than a week after the central bank slashed the key rate to help spur growth in Asia's fourth-largest economy."(BOK) maintains its stance that it will take measures if necessary, depending on the (rate of) economic growth," Lee said while speaking in front of the parliamentary finance committee. Lee's remarks came five days after the central bank cut the key rate by 25 basis points to 1.50 percent despit

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  Travel

  Foreign visitors to S. Korea jump 15 pct in June

  The number of foreign visitors to South Korea rose sharply last month, helped by a large increase in visitors from China, Japan and Taiwan, data showed Tuesday.In June, the number of foreign visitors to the country came to more than 1.47 million, up 15.1 percent from around 1.28 million the same month last year, according to the data from the state-run Korea Tourism Organization. By country, the number of visitors from China spiked 25 percent on-year to a little over 475,000 last month, with vis

GRAPHIC NEWS

OPINION

• Columnists

  

  Let’s choose the best person to lead the IMF

  Now that Christine Lagarde has announced her resignation as managing director of the International Monetary Fund, German chancellor Angela Merkel says Europeans “again” have a “claim” to fill what is arguably the world’s most important economic job. Merkel is invoking a decades-old political deal, which gives Europe the IMF leadership in return for allowing Americans to run the World Bank.If global leaders want the IMF to achieve its mission of ensuring internationa

• Columnists

  

  Ultra-nationalism in the era of globalism

  We are now living in the era of globalism when the whole world has become a global village. The boundaries between nations are rapidly collapsing and people are experiencing crossovers everywhere. Take the EU, for example. Practically the whole continent of Europe has become a global village already and Europeans are freely crossing borders without an entry visa, using the same currency and their mobile phone with no extra charge. Why, then, are we witnessing such sudden unprecedented change in

THE INVESTOR

• Startups & Investors

  

  What Samsung NEXT considers when investing in startups

  Samsung NEXT is one of the most active startup investors in Silicon Valley, looking for fledgling but promising startups. An opportunity to work with the investment firm, owned by tech giant Samsung Electronics, can grant startups a great reputation and recognition among other investors and startups around the world.A lot of entrepreneurs may wonder how they can have such a partnership opportunity, and even seize the chance to exit after being acquired by Samsung. A director from the accelerator

• Retail & Consumer

  

  Woongjin decides to offer staple financing to Coway buyer

  Cash-strapped Woongjin, which recently decided to resell its stake in water purifier rental firm Woongjin Coway, announced on July 24 that it will offer staple financing to the buyer.Staple financing is a prearranged financing package offered to potential bidders for an acquisition. This is offered by the seller to assist its potential purchasers, who might have some difficulties borrowing money, mainly due to low brand awareness in the local market.Woori Bank and Korea Investment &Securitie

• Startups & Investors

  

  State-led tech forum NextRise puts Seoul on global tech map

  The state-led technology forum NextRise kicked off July 23 as part of Seoul’s efforts to put the country’s startup ecosystem on the global tech map. The two-day event is expected to come up with a setting for higher chances of engagement between startups and investors, be they venture capital firms or corporations. Related:What Samsung NEXT considers when investing in startupsHeld at Coex in southern Seoul, NextRise 2019 was co-hosted by state-run entities such as the Korea Developme

• LG

  

  LG Display sees losses for two straight quarters in Q2

  South Korean display maker LG Display said on July 23 that it posted an operating loss of 368.7 billion won ($312.7 million) in the April-July period, marking two consecutive quarters in the red.It logged 5.35 trillion won in sales, down 5 percent on-year, in the same quarter.The company said the trade feud between the US and China, which led to the decline in display exports to Chinese customers, and one-time costs for developing mobile OLED displays were some of the main reasons for the disapp

K-POP HERALD

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  Sehun, Chanyeol say ‘What a Life’ reflects their own stories

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  Playlist: A look back at EXO’s solo and subunit tracks

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  Kang Daniel ready to step back into spotlight

HERALD INTERVIEW

• Arts&Design

  

  10-year-old Jeju Museum of Art prepares for next decade under new director

• Foreign Policy

  

  Yuji Hosaka on why Korea, Japan still spar over bygones

• Technology

  

  How Facebook addresses beautification

• Finance

  

  Mirae Asset stands tall on Wall St. amid strong rivals

PHOTO NEWS

• Social affairs

  

  Where startup dreams come true

  With an aim to nurture startups and create an environment where startups can thrive, Seoul Metropolitan Government established Seoul Startup Hub in 2017. It’s designed as a place where investors, conglomerates, startups and consumers can interact and build networks. Seoul Startup Hub has since become a platform to help Koreans make their dreams of launching startups come true -- from planning to implementing their ideas -- as it provides professional consulting, lectures and prog

VIDEO

• Foreign Policy

  

  Views of South Koreans on boycotting Japanese products

• Food

  

  Behind South Korea’s ‘fatcaron’ sensation

• Food

  

  Behind jewelry shops, pairing pork, kimchi and oysters in Jongno

• Food

  

  Tender, sweet spareribs at Seongsu-dong

FEATURES

• Music

  

  Offering classical music to more in Seoul

  With tickets to classical music concerts typically around 100,000 won ($85), and sometimes triple that for big-name performers, prices have been a major barrier to widening the audience for classical music.To lower that barrier, organizations hold concerts for free or at a relatively affordable price, sponsored by the government or companies. These outreach concerts often feature pieces with a wide appeal and recognition, even among people unfamiliar with classical musicConcerts move out of conc

• Industry

  

  Calm, steady approach needed to tackle Japan’s export curbs: SK chief Chey

  KCCI chief urges political unity to support Moon on trade dispute 　

• Economy

  

  ‘Sagging economy’ faces 2nd rebound in dollar, oil

  SEJONG -- Prices of the US dollar and gasoline directly affect a large proportion of South Korean businesses and households in terms of manufacturing costs and purchasing power.While monetary authorities sometimes have intervened in the foreign exchange market and hamper the cheap dollar in an attempt to promote exports, the greenback’s current strong position versus the Korean won suggests the local economy has been sagging.Simultaneously, a hike in international prices of crude oil, whic

• Economy

  

  Portion of pessimists over economy hits record: poll

  SEJONG -- A large proportion of self-employed people have closed their businesses and joined the growing number of jobless people over the past two years. Simultaneously, the state payment of unemployment benefits has climbed to an all-time high.The Moon government started providing some young jobless people with 3 million won ($2,540) for six months per individual, while the number of people who lost jobs has been drastically increasing among those in their early 50s, 40s and late 30s. The