SPOTLIGHT

• Industry

  

  Is video games tax coming down the pike?

  Conflict of interest claims rise as game society labels gaming disorder adoption as plot to milk tax out of game companies to fill doctors’ pockets

• Social affairs

  

  Fugitive chaebol chief might be dead: prosecutors

  Chung Tae-soo, a former chaebol chief at the center of a 1990s corruption scandal that shook the country, might be dead, according to prosecutors Tuesday. Chung founded and headed Hanbo Steel, Korea’s second-largest steelmaker, until the company went bankrupt in January 1997, some 5.7 trillion won ($5 billion) in debt, despite government-ordered bailout loans from banks. Hanbo’s fall set off a cascade of collapse of major conglomerates, including Kia Motors and Daewoo, triggering the

• Book Review

  

  ‘Autobiography of Death,’ about deaths of people who are still alive, takes poetry prize

  With her poetry collection “Autobiography of Death,” Kim Hye-soon brought Asian women’s voices to the forefront of the international literary scene by winning the 2019 International Griffin Poetry Prize earlier this month.It marked the first time the Canadian prize, founded in 2000, had ever gone to two Asian women -- Kim shared the honor with Choi Don-mee, who translated the book into English.  Kim and Choi were not expecting the prize. “At the ceremony, the transla

• Technology

  

  Naver plans superaccurate map for self-driving

  South Korea's internet giant Naver said Tuesday it will develop a superaccurate map for autonomous driving by the year’s end, as it seeks to gain an upper hand in the futuristic technology. 　The company’s research and development subsidiary Naver Labs announced its plans to create a virtual Seoul map with 10 centimeter-level accuracy. It pledged to build a digital layout of streets 2,000 kilometers long by acquiring geographic data via aerial and land devices. 　Naver is one of few Ko

LATEST NEWS

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  North Korea

  N.K. newspaper reiterates desire for lasting peace on Korean Peninsula

  A North Korean state newspaper on Tuesday reiterated Pyongyang's "firm" will for lasting peace on the peninsula and called on South Korea and the United States to thoroughly enforce joint declarations aimed at enhancing bilateral ties.The Minju Chosun, the daily of the North's Cabinet, carried an editorial titled "Let's safeguard peace and security of the Korean Peninsula," as the country marks the 69th anniversary of the outbreak of the 1950-53 Korean War. "The firm con

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  Automode

  Seoul considering extending tax benefits on eco-friendly cars: finance minister

  South Korea is considering extending a temporary tax cut on purchases of all-electric and hydrogen fuel-cell electric cars, the finance minister saidTuesday, in the latest move to help eco-friendly cars expand their presence here.Since 2017, the government has waived a 5 percent special excise tax on purchases of all-electric and hydrogen fuel-cell electric cars. The temporary tax cut is set to end in December this year. Hong Nam-ki, the minister of economy and finance, said that the govern

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  Foreign Policy

  No summit between S. Korea, Japan at G-20: Cheong Wa Dae

  South Korean President Moon Jae-in won't meet bilaterally with Japanese Prime Minister Shinzo Abe at the Group of 20 summit this week, a Cheong Wa Dae official said Tuesday amid a drawn-out spat between the neighboring countries over their shared history.South Korea is "always" ready for such a separate summit, but Japan doesn't seem to be, the official told reporters in a briefing on Moon's schedule for the two-day G-20 session to open in Osaka, Japan, on Friday. It is Cheong Wa Dae's

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  Politics

  Parties to push ahead with National Assembly extraordinary session as agreed, minus Liberty Party

  The ruling and minor opposition parties on Tuesday reaffirmed convening the June extraordinary parliamentary session as planned and put the National Assembly back to work amid the main opposition party’s last minute withdrawal.“Liberty Korea Party has turned away from coexistence and chose to take the arrogant, self-righteous and destructive path. They have betrayed the public’s calls for normalization of the National Assembly,” said Lee In-young, floor leader of the ruli

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  Social affairs

  Seungri referred to prosecutors on embezzlement, sex crime, prostitution charges, among others: police

  Seungri, formerly of boy band Big Bang, has been referred to prosecutors in the latest development in the Burning Sun probe, police said Tuesday. Burning Sun, a now-closed club in Gangnam, Seoul, is alleged to have been host to a range of criminal activities, including sex crimes, drug dealing and prostitution. The singer and entrepreneur was heavily involved in the club’s management. According to the Seoul Metropolitan Police Agency, charges Seungri faces concern embezzlement, destruction

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  Automode

  S. Korean brands again sweep J.D. Power’s US initial quality survey

  　South Korean brands again demonstrated the best initial quality among 32 automotive brands sold in the United States, according to an annual ranking by researcher J.D. Power, with about half of the domestic brands better than average and all European brands below average. 　Genesis, Kia and Hyundai, all part of Hyundai Motor Group, were the top three brands in the 2019 US Initial Quality Study, which measures problems in the first 90 days of vehicle ownership. 　Ford Motor ranked fourth followed

• 

  Columnists

  In the name of harmony and unity

  Jealousy is a universal phenomenon. For example, a star player in a sports team can easily become an object of jealousy for other players. So, too, can a famous movie star whose popularity is sensational or one who has received an important award at an international film festival. Likewise, a celebrity writer whose book becomes a bestseller or a scholar who achieves international acclaim can evoke jealousy among colleagues, even when his fame makes his whole country glitter. Such a phenomenon ca

• 

  Columnists

  What went wrong? It’s time to look at the military’s security posture

  The poor police officer who got the call may have scoffed, thinking it was a prank. Imagine the caller saying something like this: “I have just talked to four people claiming to have come from the North. They are standing on the quay.” Then imagine the startled police officers rushing to the scene. Recent media photos of South Korean police officers talking to the crew of a North Korean boat that apparently strayed into South Korean waters captured exactly this bizarre encounter. The

• Editorial

  No more vanity

  US, North Korea should begin working-level talks on denuclearization

• 

  Industry

  Samsung heir prepares for meeting with Saudi prince

  Samsung Electronics Vice Chairman Lee Jae-yong is preparing for a meeting with the crown prince of Saudi Arabia by checking out Samsung affiliates’ projects in the Middle East, the company said Tuesday. Lee, as the de facto leader of the biggest conglomerate in South Korea, is expected to attend a luncheon hosted by President Moon Jae-in for Crown Prince Mohammed bin Salman at Cheong Wa Dae on Wednesday.  The Samsung heir on Monday held meetings with the heads of Samsung Engineering a

GRAPHIC NEWS

OPINION

• Columnists

  

  In the name of harmony and unity

  Jealousy is a universal phenomenon. For example, a star player in a sports team can easily become an object of jealousy for other players. So, too, can a famous movie star whose popularity is sensational or one who has received an important award at an international film festival. Likewise, a celebrity writer whose book becomes a bestseller or a scholar who achieves international acclaim can evoke jealousy among colleagues, even when his fame makes his whole country glitter. Such a phenomenon ca

• Columnists

  

  What went wrong? It’s time to look at the military’s security posture

  The poor police officer who got the call may have scoffed, thinking it was a prank. Imagine the caller saying something like this: “I have just talked to four people claiming to have come from the North. They are standing on the quay.” Then imagine the startled police officers rushing to the scene. Recent media photos of South Korean police officers talking to the crew of a North Korean boat that apparently strayed into South Korean waters captured exactly this bizarre encounter. The

THE INVESTOR

• Finance

  

  Woori to be fully privatized by 2022: FSC

  South Korea’s top financial regulator said on June 25 that Woori Financial Group’s state-owned shareholder will sell its entire stake of by no later than 2022.The Financial Services Commission has approved an exit strategy of the Korea Deposit Insurance Corp. to sell off its 18.3 percent stake in Woori Financial.  Related:Woori Financial poised for M&A bingeWoori Bank’s holding company plan boosts investor sentimentsSeven bidders win Woori Bank stake[WOORI PRIVATIZATIO

• Deals

  

  Deloitte Anjin stresses PE’s role in portfolio value creation

  Seoul-based accounting firm Deloitte Anjin stressed the role of South Korean private equity houses in creating new value as uncertainties surface in the domestic merger and acquisition market.“PEs are expected to take lead roles in Korea’s M&A market growth this year, because strategic investors are seeking to minimize risks when undergoing M&As to enhance their core competence,” said Kil Ki-wan, managing partner of Deloitte Anjin in charge of financial advisory service

• Retail & Consumer

  

  Rawrow secures funding from Shinsegae International

  Rawrow on June 20 announced that it had signed a contract to get funding from Shinsegae International, a fashion arm of Korean conglomerate Shinsegae. According to Rawrow, it handed some of its shares to the Shinsegae affiliate but declined to disclose the specific figures.“Securing the management know-how and infrastructure to grow the business further is necessary for startups with brilliant ideas,” said Rawrow CEO Lee Eui-hyun. “For us, securing this funding was meaningful a

• Startups & Investors

  

  Israeli blockchain startup Endor wins innovation award in S.Korea

  Israeli blockchain startup Endor is expanding its foothold in the global market for insurtech, winning a top award at an innovation contest held by insurance company MetLife Korea earlier this month.As the winner of MetLife Korea’s collab 5.0 competition, the startup will be able to supply $100,000 worth of its artificial intelligence and predictive analytic services to the insurance company. Endor’s solutions allow corporate partners to answer predictive questions within a day witho

K-POP HERALD

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  Meet man hoping to break boundaries with Monsta X

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  Holland’s summer/Pride playlist: 8 songs to check out

• 

  Super Junior’s Kyuhyun would choose Changmin as travel buddy

HERALD INTERVIEW

• Book Review

  

  Behind making of Baek Hee-na’s latest picture book

• Technology

  

  S. Korea's top IP official vows to create user-friendly patent system

• Music

  

  Young composer-conductor excited about Seoul-Paris premiere

• Finance

  

  KIS Vietnam to become first foreign brokerage to launch covered warrants in Vietnam

PHOTO NEWS

• Fashion

  

  Seoul -- an open runway where life and fashion coexist

  Raised aisles stretch out under the glare of the spotlight, chic models parade up and down the catwalk, top-notch designers give brusque last-minute directions, and front-row celebrities flaunt their outfits for the cameras.This is how runways are often perceived by the general public -- sophisticated yet disconnected from everyday life.But what if fashion shows broke out of the conventional frame and models posed in the streets, under natural light and at eye level with the audience? Every part

VIDEO

• Food

  

  Tender, sweet spareribs at Seongsu-dong

• Social affairs

  

  Partisanship pauses for Lee Hee-ho’s funeral

• Industry

  

  Big buyer NHIS signals real estate market trend shift

• Food

  

  Trip back to ’90s: visiting ‘seagull meat alley’ in central Seoul

FEATURES

• Economy

  

  Korea’s agricultural products to tap America after Paris

  SEJONG -- South Korea is sparing no efforts to promote its agricultural products globally, including Korean traditional dishes, beverages and alcoholic drinks.According to the Ministry of Agriculture, Food and Rural Affairs, “K-food Fair” held in Paris earlier this month drew wide attention from European consumers and retailers.“Twenty-one Korean producers participated in the fair in France and signed export contracts worth $17 million (19.6 billion won),” said a ministry

• Economy

  

  Korea’s 2019 growth may fall to 10-year low

  SEJONG -- Two major economic indices under the Moon Jae-in administration have plumbed to new lows since the nation was hit by the 2008-09 global financial crisis.Those are the growth of gross domestic product in the first quarter and the current account balance in April 2019.South Korea suffered a contraction of 0.4 percent in GDP during the January-March period on a quarter-to-quarter basis.This was the worst quarter-on-quarter GDP performance since the first year of the Lee Myung-bak governme

• Politics

  

  Financial regulator still not in list for Sejong relocation

  SEJONG -- It has been more than six years since the Ministry of Economy and Finance moved from Gwacheon, Gyeonggi Province, to Sejong Self-Governing City. 　Nonetheless, some former functions of the ministry remained in Seoul after it handed over its financial industry policy authority to the Financial Services Commission in 2008, when the former Lee Myung-bak government took office. Since then, the FSC has been in charge of both supervisory policy and financial industry policy. The commissi

• National

  

  Chinese raids hit North Korean defectors’ ‘Underground Railroad’

  A decade after leaving her family behind to flee North Korea, the defector was overwhelmed with excitement when she spoke to her 22-year-old son on the phone for the first time in May after he too escaped into China.While speaking to him again on the phone days later, however, she listened in horror as the safe house where her son and four other North Korean escapees were hiding was raided by Chinese authorities.“I heard voices, someone saying ‘shut up’ in Chinese,” said