New Focus

US, China, Korea should work together against NK threat

With North Korea scaling up its nuclear and missile capabilities, the United States should consider taking higher policy risks to break the security deadlock and tamp down the communist regime’s proliferating threat, according to a former director at the White House’s National Security Council. Victor Cha, speaking at a forum in Seoul on Feb. 17, said the new policy toward North Korea “should entail a higher level of risk acceptance,” as minimizing risk had restricted policy options and allowed Pyongyang [...]

Samsung, Reliance Jio to connect rural India

Samsung Electronics said it will team up with India’s Long Term Evolution mobile operator Reliance Jio Infocomm to build more high-speed wireless communication networks in India’s remote regions as well as major cities. Tapping the rapidly growing telco market in India, South Korea’s tech giant clinched an exclusive deal with Jio in 2012 to supply 4G LTE network equipment. After two years of network building across India between 2014 and 2016, the Indian telco firm launched the service in September [...]

Tensions rise amid possibility of clash between Park's supporters, opponents

Millions of people are expected to crowd the streets of Seoul Wednesday in a last push to oust or reinstate impeached President Park Geun-hye, leading to concerns about violence between the two groups. Park’s supporters and opponents have taken to the streets each Saturday since late last year as the Constitutional Court reviews the legality of her impeachment and special prosecutors have conducted an extensive probe into her alleged corruption. The rallies have been largely peaceful, with the president’s critics holding [...]

70 percent of Americans support long-term US military presence in S. Korea: survey

About 70 percent of Americans believe the US should have long-term military presence in South Korea, a survey showed Wednesday. The Chicago Council on Global Affairs survey, conducted jointly with research institutes in five other nations, also showed that 62 percent of South Koreans are supportive of long-term US military presence in their country. “The South Korean public and the American public are closely aligned on their views of US bases in South Korea,” the council said. The high American support for [...]

Young Koreans given various incentives to have more babies

Kang Mi-ok received 2 million won ($1,700) from a rural county in central South Korea in August. The money was meant to promote the birth of a fourth baby. She is set to receive another 8 million won in installments by 2020 from Cheongyang County, South Chungcheong Province, to help her raise the baby. “It’s completely a bonanza,” Kang said as she was caring for four children with her husband at a cafe in Cheongyang, 160 kilometers south of Seoul. The [...]

Naver invests in European AI

Naver is expediting its development of voice-recognition artificial intelligence (AI) technologies. Global IT giants such as Google, Amazon, Apple and Microsoft are heavily investing in researching and developing AI systems that recognize human voices and understand natural languages. The nation’s largest internet service provider is also seeking partnerships with an advanced audio technology provider in Europe. The company said Tuesday it has decided to invest in French high-end audio tech startup Devialet through venture investment company Korelya Capital. The investment firm [...]

Alipay opens first overseas customer center in Korea

Alipay, China’s largest online payment service provider, opened its first-ever overseas customer center here in Seoul on Tuesday, a move that will help boost the Chinese firm’s market presence while also helping to attract more Chinese visitors to the country, a local trade agency said. The Alipay service center is located at Seoul’s COEX exhibition center, and will provide various customer services to Chinese visitors ranging from online payment services to luggage storage and business lounge services, according to the [...]

Samsung BioLogics to begin IPO process this week

Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday. The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under this timeline, Samsung BioLogics will likely complete its public listing by November as scheduled. Samsung BioLogics declined to comment on the potential size of the IPO. [...]

First gold comes from men's archery; Judoka takes surprise silver

South Korea wasted little time picking up its first gold of the Rio de Janeiro Olympics, as the men’s archery team came out on top on the first day of the competition Saturday. The trio of Kim Woo-jin, Ku Bon-chan and Lee Seung-yun defeated the United States team of Brady Ellison, Zach Garrett and Jake Kaminski by the set score of 6-0 at Sambodromo. It was South Korea’s fifth Olympic gold in the men’s team archery event and avenged its loss [...]

Korean exporters still face growing protectionism

South Korean companies are confronted with growing trade barriers in overseas markets as major economies toughen import rules amid a protracted economic slowdown, industry sources said Wednesday. As of the end of July, South Korean products were affected by 179 anti-dumping measures, safeguards and other import regulations worldwide, according to the sources and the state-run Korea Trade-Investment Promotion Agency. In the first seven months of this year alone, 24 new complaints involving import regulations were filed against South Korean products, but [...]