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[Steven Conn] Isolationism is another word for ignoring inconvenient truths

ViewpointsJun 7, 2017

It has been almost a century since the United States walked away from an international accord as significant as the Paris agreement on climate. In 1920, the Senate refused to ratify the Treaty of Versailles despite the desperate attempts by President Woodrow Wilson to rally support for it. Those attempts likely contributed to a massive stroke that left Wilson incapacitated for the rest of his term.The Versailles treaty brought an end to World War I, and historians agree that in many ways it wasn
[Robin M. Mills] Qatar still has many friends in energy markets

ViewpointsJun 7, 2017

Oil markets seem impervious to geopolitical risk. As four Arab neighbors imposed an unprecedented embargo on Qatar on Monday, oil prices briefly jumped 1.6 percent before falling back. The fuel to watch, though, is not oil, but gas. If this dispute is not resolved quickly, it may mean a hot summer in the Gulf.The problem has been simmering for a long time, with three of Qatar’s Gulf Cooperation Council colleagues blaming it for backing Islamist groups including the Muslim Brotherhood, and being
Singapore Airlines revamps frequent flyer program

IndustryJun 7, 2017

Singapore Airlines has introduced new benefits and rewards under its PPS Club program, the highest tier within the airliner’s frequent flyer program, KrisFlyer. Among the new benefits exclusive to PPS Club members are the non-expiry of KrisFlyer miles, priority access to Saver award redemption inventory, and fast-track security and immigration clearance at selected airports. In addition, members will have access to complimentary preferred seat selection when traveling in select classes. “The int
Supplementary budget goes to parliament

PoliticsJun 7, 2017

The Moon Jae-in administration’s 11.2 trillion won ($9.97 billion) supplementary budget plan was submitted to the National Assembly on Wednesday, with the main opposition party making clear its rejection of the bill. As the parties readied to clash over the plan, President Moon chose to emphasize the need for the supplementary budget during a visit to a fire station in central Seoul. During the visit, which the presidential office referred to as a “job-creation supplementary budget visit,” Moon
BMW the most registered import car brand in May

TransportJun 7, 2017

BMW Korea appears to be catching up with Mercedes-Benz Korea, the No. 1 importer of automobiles here, with the former topping the list of newly registered cars for two consecutive months in May, industry data showed Wednesday.Last month, a total of 5,373 units of BMW vehicles were registered here, while Mercedes-Benz Korea, the local importer and distributor of the German automaker, came in second place with 5,063 units, according to data compiled by the Korea Automobile Importers and Distributo
Hyundai Motor USA's No.2 man resigns

TransportJun 7, 2017

Derrick Hatami, Hyundai Motor America’s vice president of sales, has stepped down, leaving a leadership vacuum in the South Korean carmaker’s US operation. This came six months after Hatami’s former boss, Dave Zuchowski, president and CEO of Hyundai Motor America, resigned amid rumors that the carmaker was holding him responsible for stalled sales growth in the US market. (Yonhap)According to local reports, Hatami was “dismissed” due to Hyundai’s declining sales, but officials from the carmaker’
Food giants rush to adopt holding company structures

IndustryJun 7, 2017

Major South Korean food companies are moving fast to adopt holding company structures amid growing concerns among corporate circles over the Moon Jae-in administration’s chaebol reform drive. Maeil Dairy Industry said it changed its name to Maeil Holdings Co. in April as it has adopted the holding company structure and split off Maeil Dairies as a business unit. Orion, a local confectionary company, also took a similar path, splitting off the company into a holding company -- Orion Holdings -- a
[Photo News] ETRI develops smart wear for golfing

TechnologyJun 7, 2017

IN MOTION -- A researcher at the Korea Electronics & Telecommunications Research Institute corrects his golf swing posture using “Smart Wear” developed by the institute, which analyzes motions captured by 17 sensors attached to joints in the human body. (ETRI)
Study shows low retention of jobs created by public subsidies

EconomyJun 7, 2017

Following President Moon Jae-in’s initiative for his 100-day plan for job creation, a recent study argued that the government’s short-term financial support is estimated to be ineffective in the long-run in terms of job retention. The new administration’s job creation plan was established to address and promote job growth as one of the president’s highest priorities in his first 100 days in office. On Monday, the government announced an 11.2 trillion won ($9.99 billion) s
[Photo News] LG supplies premium TV set to luxury resort hotels

TechnologyJun 7, 2017

LG AT RESORTS -- A family looks at the industry’s first wallpaper type LG Signature OLED TV W installed at the 6th-floor lobby of Banyan Tree Club & Spa Seoul in the central part of the city. LG said Wednesday it supplied the premium TV set to luxury resort hotels like Banyan Tree and South Cape Spa and Suite. (LG Electronics)
Finance minister nominee grilled over economic values

EconomyJun 7, 2017

At a parliamentary hearing Wednesday, Kim Dong-yeon, nominee for deputy prime minister and finance minister, was under intense scrutiny over his stance that opposition lawmakers claimed would clash with the Moon Jae-in administration’s push for stronger welfare and income-led economic growth. The nominee, who mostly responded with theoretical answers, had served the former conservative Lee Myung-bak administration. He was presidential secretary for economy and finance from 2008-2009, the F
[Photo News] Homeplus releases Haeundae Beach Ale for this summer

IndustryJun 7, 2017

BEER FOR HAEUNDAE – Homeplus’ latest product Haeundae Beach Ale is on display. The ale is a craft beer targeting the summer vacation season featuring the famous beach in Busan with an alcohol level of 4.2 percent priced at 3,900 won ($3.50) a can. The product is manufactured by Korea Craft Brewery and is to be sold at 142 Homeplus branches nationwide, the company said Wednesday. (Yonhap)
Bezel-less, dual-camera phones due in H2

TechnologyJun 7, 2017

Heated competition is expected in the premium smartphone market in the second half of the year, as three new handsets are set for release starting from August. They are Samsung Electronics’ Galaxy Note 8, Apple’s 10th anniversary iPhone 8 and LG Electronics’ V30. (Yonhap)The upcoming smartphones are predicted to have significant reductions in the bezels and adopt dual cameras following the latest consumer trend of preferring larger displays and wide-angle photos. According to a recent video lea
Minimum wage hike plan raises concerns

EconomyJun 7, 2017

The new government’s push for a steep increase in the minimum wage has raised concerns that job opportunities for low-income, low-skilled workers will decrease as many small companies and self-employed businesses are forced to close or cut the number of employees.Under a plan announced by a presidential committee on jobs last week, Korea’s hourly minimum wage, which is currently pegged at 6,470 won ($5.80), is set to rise by an annual average of 15.7 percent over the next three years
Trump wishes Comey luck, allies aim at lawman's credibility

World NewsJun 7, 2017

WASHINGTON (AP) -- The White House and its allies are scrambling for ways to offset potential damage from fired FBI Director James Comey's highly anticipated congressional testimony, an appearance that could expose new details about his discussions with President Donald Trump about the federal investigation into Russia's election meddling.Asked about the testimony, Trump on Tuesday was tight-lipped: "I wish him luck," he told reporters before a meeting with lawmakers.Tuesday evening, a person fa