Seoul shares snap 4-day rise amid Fed's rate path woes

Seoul shares closed lower Friday, snapping a four-day winning streak, with no major guidance in the markets due to the Thanksgiving holiday in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was down 18.33 points, or 0.73 percent, to close at 2,496.63. Trade volume was slim at 352.2 million shares worth 6.38 trillion won ($4.9 billion), with gainers outnumbering decliners 452 to 413. Institutions and individuals bought a combined 194

MarketNov. 24, 2023

Drug users turning to illicitly imported tests to avoid getting caught: ministry

Illicit sales of drug test kits from overseas are on the rise via social media, according to the Ministry of Food and Drug Safety on Friday. They are being marketed to potential drug users looking to evade testing by police, the ministry said. The test kits, which are equivalent to the rapid tests used by police here, produce results within a few minutes, allowing drug users to take measures to prevent getting a positive result in later police testing. To alter results of the typically more reli

Social AffairsNov. 24, 2023

Korea makes last-minute push for Busan Expo bid

President Yoon Suk Yeol attended a Bureau of International Expositions banquet on Thursday as the first official event during his visit to Paris, in a bid to rally support for Busan in the vote taking place next week. Diplomats and BIE delegations from around the world attended the dinner held at a hotel in Paris. The chiefs from Korea's top conglomerates, including Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Chung Euisun, LG Group Chairman Koo Kwang-mo and Lot

Foreign AffairsNov. 24, 2023

BIS, BOK top officials visit Naver's 2nd headquarters

Top officials from the Bank for International Settlements and the Bank of Korea visited Naver 1784, the tech giant's second headquarters, to discuss ways to integrate artificial intelligence technology in the financial sector, Naver said Friday. BIS General Manager Agustin Carstens and BOK Senior Deputy Gov. Ryoo Sang-dai were among the officials visiting the Naver's second headquarter building in Seongnam, Gyeonggi Province. The officials were greeted by Naver's top executive

IndustryNov. 24, 2023

After 13 years, Naver's 'OnStage' music show bids farewell

"OnStage," a weekly music show on Naver that has been praised for discovering indie musicians and expanding the domestic music scene, has come to an end after 13 years, Naver Cultural Foundation said Friday. It aired its final episode on Nov. 16, a video on the Korean rock band Peppertones, the foundation said in a blog post. "Over the past 13 years, various live video platforms have emerged, making it easy for anyone to create video content and directly connect with music fans. T

CultureNov. 24, 2023

Nonregular workers discriminated by financial firms: labor ministry

South Korean financial institutions have been found to treat nonregular workers unfairly, according to the Labor Ministry on Friday. The ministry revealed the results of an investigation it conducted on 14 financial organizations, including banks, securities and insurance companies. A total of 62 cases of discrimination were identified across 12 companies, though the names of these companies were not disclosed. In one case, a sales office failed to provide a monthly lunch allowance of 200,000

PoliticsNov. 24, 2023

Job applicants may legally reject AI interviews next year

Starting next year, job seekers will have the right to reject the results or seek clarification if they perceive artificial intelligence-powered interviews to be unfair in their recruitment process. The Personal Information Protection Commission announced Wednesday new legislation regarding the amendment of the Personal Information Protection Act. The amendment process began on Thursday and continues to Jan. 2 of next year. Under the proposed amendment, if job applicants feel that their rights a

Social AffairsNov. 24, 2023

Chung Myung-whun, Clara Jumi Kang to take stage with Munich Philharmonic

Two of the most sought-after Korean classical musicians will take the stage with the Munich Philharmonic next week. Maestro Chung Myung-whun and violist Clara Jumi Kang, whose relationship dates back more than a decade, will perform Beethoven's Violin Concerto with the orchestra. “Since childhood, I frequently listened to live recordings of Beethoven's Symphony by the Munich Philharmonic and Sergiu Celibidache. The distinct, sharp yet warm and intricate sound unique to the Munich

CultureNov. 24, 2023

Kim Hye-soo to step down as host of Blue Dragon Film Awards after 30 years

Actor Kim Hye-soo will wrap up 30 years of hosting one of South Korea's most prestigious film awards on Friday. Kim will host the Blue Dragon Film Awards ceremony, the 44th edition, for the last time at KBS Hall in Yeouido, Seoul. Fellow actor Yoo Yeon-seok will co-host the ceremony. Kim first took on the role as emcee in 1993 after rising to stardom through her debut film “Ggambo” (1986). She has since hosted the ceremony every year, except for in 1998. During her decadeslong

FilmNov. 24, 2023

[Photo News] Sisters acting on stage

The remake of stage musical "Sister Act" began its Seoul run on Tuesday at D-cube Link Arts Center, following eight days in Busan. The adaptation of “Sister Act” is based on the hit 1992 film of the same title. The musical originally made it to the stage in 2006. The recently updated rendition retains the music and lyrics of the original musical while infusing vibrant colors into the stage design, costumes and physical movements. The cast members highlight diversity, with s

CultureNov. 24, 2023

SK affiliates sign largest renewable energy deal in Korea

SK Group announced on Friday that nine of its affiliates have entered a long-term agreement to procure 537 gigawatt-hours of renewable energy annually from SK E&S, a clean energy provider within the group. The 20-year deal is the largest direct renewable energy purchase agreement, or PPA, ever in Korea, and is expected to cut 5 million metric tons of greenhouse gas emissions over two decades, the group said, equivalent to planting some 20 million pine trees nationwide. The size of the deal

IndustryNov. 24, 2023

[Photo News] Samsung makes final push for Busan Expo in Europe

Samsung Electronics said Friday it is launching an outdoor advertisement campaign in major cities in Europe, including London and Madrid, to ramp up promotional efforts for Busan’s bid to host the 2030 World Expo. The ads feature famous attractions in the South Korean port city. In London, cabs sporting similar wrap-around ads will drive across the city, the company said. The tech giant will run the campaign through Nov. 28, when the host city of the global event is to be determined in a v

IndustryNov. 24, 2023

Fifty Fifty enters Billboard's year-end Hot 100 as 1st K-pop girl group

Fifty Fifty made it onto Billboard's year-end list of most popular songs as the first K-pop girl group in history. The US music publication recently unveiled its 2023 year-end charts, which showed Fifty Fifty's "Cupid" at No. 44 on the annual Hot 100 songs chart. This marked the first time that any K-pop girl group's song has made it onto Billboard's year-end main singles chart. The year-end Hot 100 chart is a rundown of the year's biggest hits in the US compil

K-popNov. 24, 2023

Christmas comes early with aespa's 'Jingle Bell Rock'

Aespa is spreading the Christmas cheer early with its new song "Jingle Bell Rock." The band's agency, SM Entertainment, on Friday announced that the quartet will drop its reinterpretation of the popular Christmas carol at 2 p.m. later that day. Aespa's version of "Jingle Bell Rock" will offer new delights, the agency said, with the four members' voices interlaced over the minimal track peppered with powerful 808 bass and catchy instrumental sounds, The new song

K-popNov. 24, 2023

Opposition leader slams N. Korea for scrapping military deal, urges policy changes

Opposition leader Lee Jae-myung on Friday denounced North Korea's scrapping of a military tension reduction agreement with South Korea, expressing concern that tit-for-tat actions of both sides could lead to tensions getting out of control. The North effectively scrapped the 2018 agreement on Thursday, saying it will restore all military measures halted under the deal. The move came after the South suspended part of the agreement in protest of the North's successful launch of a militar

PoliticsNov. 24, 2023

Top diplomats of S. Korea, China, Japan to hold talks in Busan this weekend

The top diplomats of South Korea, China and Japan will hold trilateral talks in the southeastern port city of Busan this weekend, Seoul's foreign ministry said Friday, amid fresh tensions after North Korea's launch of a military spy satellite. Foreign Minister Park Jin will meet with Chinese Foreign Minister Wang Yi and Japanese Foreign Minister Yoko Kamikawa on Sunday for broad discussions on ways to boost trilateral cooperation and other regional and global issues, Seoul's forei

Foreign AffairsNov. 24, 2023

[김대균의 영어산책] 15년 런던 거주, 영국 국적 mc 김문정의 영국영어 표현

필자는 매주 화요일반 9시 아프리카티비 김대균토익킹 방송에서 훌륭한 게스트를 모시고 방송을 한다. 본방송은 그 다음주 수요일에 케이블 채널에서도 볼 수 있어서 아마도 보신 독자들이 계실 것이다. Korea Herald독자 분들 중에 영어에 관심있는 분으로 출연의향이 있으신 분은 grammarking@daum.net으로 간단한 자기소개를 보내주시면 기회를 만들도록 약속드린다. 최근에 영국 퍼셀 음악 학교를 전액장학생으로 졸업하고 영국왕립음악대학교에서 학사와 석사를 우수한 성적으로 졸업하신 김문정 영어mc와 방송을 하였다. 바이올린 연주도 있고 영어공부도 하는 방송이어서 반응이 매우 좋았다. 이 분께 부탁하여 독자 여러분에게 유익한 원고가 나오게 되었다. 함께 공유드린다. 15년 런던 거주, 영국 국적 mc 김문정의 영국영어 표현 • Will you go out with me? 영국에 온 지 3년 쯤 되었을 때 같은 학교 친구가 했던 말이다. Go out= 어디(장소)를 

English EyeNov. 24, 2023

Seoul shares open higher amid higher-for-longer rate woes

Seoul shares opened higher Friday, with no major guidance in the markets due to the Thanksgiving holiday in the United States on Thursday. The benchmark Korea Composite Stock Price Index rose 3.38 points, or 0.13 percent, to 2,518.34 in the first 15 minutes of trading. Market participants expected the Federal Reserve is near the end of its hiking cycle and rate cuts are likely in 2024. But the latest Fed minutes said officials have no intention to ease the monetary policy. In Seoul, large-cap st

MarketNov. 24, 2023

N. Korean leader lauds military spy satellite as 'space guard'

North Korean leader Kim Jong-un has lauded the country's successful launch of a military spy satellite as an eye-opening event of deploying a "space guard" monitoring enemies' military activities, state media reported Friday. Kim made the remark during his visit to the National Aerospace Technology Administration on Thursday, as he encouraged engineers and scientists who contributed to Tuesday's launch of the Malligyong-1, according to the Korean Central News Agency. &qu

North KoreaNov. 24, 2023

[Herald Interview] ‘Digital paradigm shift to VR will happen 2026’

It was in 2019 that LA-based tech firm AmazeVR, a comprehensive virtual reality entertainment startup, pivoted its main business to virtual concerts. In just three years, it became the frontrunner in the field and officially launched its service in South Korea this year. Last month, AmazeVR released its first virtual concert here, featuring K-pop girl group aespa. Produced jointly with the quartet's label, SM Entertainment, the show was available offline at the Megabox Coex cinema in southe

K-popNov. 24, 2023