The Korea Herald

Economic inequality top global risk: WEF

GENEVA (AFP) -- Rising income inequality is seen as the top risk for the global economy in 2017, with reforms to market capitalism increasingly viewed as necessary to ward off a populist backlash, the World Economic Forum said Wednesday.A survey for the WEF's Global Risks Report, published a week before the group's annual gathering of the world's business and political elites in the luxury Swiss ski resort of Davos, said experts believe rising income and wealth disparity will be the most importa

World Business Jan. 11, 2017

Economic inequality top global risk: WEF

Jun Joon-hyuk joins Britain's Royal Ballet, its 1st Korean ballerino

Jun Joon-hyuk will join Britain's Royal Ballet in August, becoming the first Korean ballerino to become a member of the prestigious group of dancers, he said Wednesday."I officially got the offer from Kevin O'Hare, director of the ballet company on Tuesday afternoon (British local time)," the 19-year-old ballerino told Yonhap News Agency by telephone. "I'm still thrilled because it's something that I have dreamed of for a long time."He will join in late August, about a month after he graduates f

Performance Jan. 11, 2017

Jun Joon-hyuk joins Britain's Royal Ballet, its 1st Korean ballerino

Truck slams into broadcasting firm at center of Park's impeachment

A truck driven by a South Korean man in his 40s slammed into the main gate of broadcasting channel JTBC on Monday, whose initial reports on President Park Geun-hye's alleged documents leaks led to her impeachment earlier in the month. The 45-year man surnamed Kim crashed his 1.5-ton truck into the main entrance of JTBC in Mapo in western Seoul at around 7:25 p.m. apparently in protest of the television channel's reports on Park, according to the police.Wearing the Marine Corps uniform, Kim tried

Social Affairs Dec. 19, 2016

Truck slams into broadcasting firm at center of Park's impeachment

US congressmen reaffirm unwavering support for alliance with S. Korea

A group of United States congressmen reaffirmed Monday that their support for a strong South Korea-US alliance will remain unwavering in any circumstance, a pledge which came after President Park Geun-hye's impeachment earlier in the month. Acting President Hwang Kyo-ahn met with six US House of Representatives members, including Peter Anderson (Republic-Texas), who are visiting South Korea.In the meeting, Hwang highlighted that the government's policy lines, including those on the alliance, rem

Foreign Affairs Dec. 19, 2016

Apple appeals landmark EU tax ruling

BRUSSELS -- Apple on Monday launched a legal challenge against a landmark EU decision that the tech giant pay billions in back-taxes to Ireland, claiming the EU has ignored the law.The European Commission, the EU executive arm, in August ordered iPhone maker Apple to reimburse a record 13 billion euros ($14 billion) in unpaid taxes in Ireland.The EU, led by its competition chief Margrethe Vestager, accused Ireland of handing Apple a secret tax deal that allowed the iPhone maker to enjoy almost z

World Business Dec. 19, 2016

Lawmaker: Ex-N. Korea diplomat fled due to 'reign of terror'

A high-profile North Korean defector told South Korean lawmakers on Monday that he fled because of disillusionment with what he describes as a “tyrannical reign of terror” by leader Kim Jong-un, according to one of the lawmakers who attended their private meeting. Seoul announced in August that Thae Yong-ho, No. 2 at the North's embassy in London, had come to South Korea with his family because of his disgust with North Korea. Pyongyang later called him “human scum” who embezzled official funds

North Korea Dec. 19, 2016

Korean language studies increasingly popular in India

NEW DELHI -- A growing number of people in India are studying Korean to help themselves find jobs or pursue further studies in the East Asian country, officials here said Monday.According to the Korean Cultural Center in New Delhi, an average of 203 students signed up for Korean language classes at its King Sejong Institute during every semester of this year. When the classes first opened in 2013, there were an average of 55 students per semester.The institute, a state-run organization that teac

Culture Dec. 19, 2016

S. Korean short tracker captures World Cup title at home

GANGNEUNG -- South Korean short track star Shim Suk-hee captured her first medal of the ongoing International Skating Union (ISU) World Cup Short Track Speed Skating at home Saturday.Shim won the women's 1,500m final at Gangneung Ice Arena in Gangneung, Gangwon Province, 230 kilometers east of Seoul. The World Cup is an Olympic test event for the new arena, which will host short track at the 2018 PyeongChang Winter Games. Gangneung is one of the sub-hosts of the Olympics and will also stage figu

More Sports Dec. 17, 2016

S. Korean short tracker captures World Cup title at home

S. Korea protests switch focus to impeachment court

Protesters began gathering in the streets of Seoul for the eighth straight week Saturday, pushing their demands for the swift and permanent removal of impeached South Korean President Park Geun-Hye.Organizers said the mass rally would march on the Constitutional Court whose nine justices are considering the validity of the impeachment bill passed by the national assembly more than a week ago.The court has 180 days to make a ruling, but the protesters are pressing for a swift judgement.Although P

Social Affairs Dec. 17, 2016

S. Korea protests switch focus to impeachment court

5 ways North Korea has changed in 5 years under Kim Jong-un

TOKYO (AP) -- It's been five years since North Korean leader Kim Jong-un took power following the death of his father, Kim Jong-il, whose demise was observed at monuments and on city center plazas across the nation Saturday. Here's a look at five ways the country that has now been ruled by three generations of Kim -- starting with grandfather Kim Il-sung -- has changed since the ascension of its 30-something "respected marshal." THE MAN HIMSELFKim Jong-un is in some ways a lot more like his c

Diplomatic Circuit Dec. 17, 2016

5 ways North Korea has changed in 5 years under Kim Jong-un

FM Yun, Kerry reaffirm strong alliance amid uncertainties

South Korean Foreign Minister Yun Byung-se and US Secretary of State John Kerry on Saturday agreed to maintain a close watch for possible North Korea provocations amid uncertainties facing the two countries, Yun's ministry said.During a 15-minute telephone discussion earlier in the day, the two agreed to "keep the current cooperation momentum" under the countries' alliance, the foreign ministry said in a press release."Yun asked Kerry to make efforts in the process of transitioning power to the

Foreign Affairs Dec. 17, 2016

Demand deposits reach record high on low rates, lack of investment opportunities

South Korea's demand deposits have reached a record high, central bank data showed Saturday, amid an apparent lack of investment opportunities, while the return on long-term bank deposits has also dipped due to record low rates.As of end-October, demand deposits held by local banks and financial institutions here came to some 201.76 trillion won ($169.97 billion), up 3.4 percent from a month earlier, according to the data from the Bank of Korea.The October tally marked the first time demand depo

Dec. 17, 2016

Obama vows to send 'clear message' to Putin, warns Trump

WASHINGTON -- President Barack Obama vowed Friday to send a "clear message" to Russia for trying to sway the US election, while calling on Donald Trump and Republicans to put national security before politics.Obama all-but accused Russian President Vladimir Putin of personally ordering an audacious cyber hack that many Democrats believe gravely wounded Hillary Clinton in a closely fought election. The US intelligence community has concluded that a hack-and-release of the Democratic Party emails

World News Dec. 17, 2016

Obama vows to send 'clear message' to Putin, warns Trump

US to release second blacklist of N. Korean human rights violators

The United States will soon release a second list of North Korean officials and entities to be sanctioned for their involvement in human rights violations, a senior state department official said Friday.Scott Busby, deputy assistant secretary for democracy, human rights and labor, made the remark during a seminar held by the non-governmental Committee for Human Rights in North Korea (HRNK) in Washington D.C., saying they are at the stage of trimming the list.In October, Busby said they were work

Diplomatic Circuit Dec. 17, 2016

Revision seeks to allow easier use of firearms against illegal fishing

The South Korean coast guard may soon be exempted from responsibilities for any damages or loss of private property caused by their use of firearms while cracking down on illegal fishing, as long as their use of force is within legal boundaries, a bill submitted Saturday proposed.Under the revision submitted by Rep. Hwang Young-cheul of the ruling Saenuri Party, the coast guard will be allowed to use firearms should a ship disobey an order three times to stop or withdraw from a specific area.An

Social Affairs Dec. 17, 2016

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