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[Michael Mandelbaum] What NATO needs from Trump

ViewpointsMay 25, 2017

As Donald Trump’s first foreign trip as president proceeds, the turmoil generated by his firing of FBI Director James Comey and the ongoing inquiry into his election campaign’s ties with Russia are following him. In none of the places he will visit will the events in Washington weigh more heavily than in Brussels, where he will meet with NATO leaders. Those American allies will be hoping for two things from Trump: reassurance that he is aware of the basic facts of European affairs, and signs tha
Hyundai Motor unveils Elec City

TransportMay 25, 2017

Hyundai Motor, South Korea’s No. 1 automaker, on Thursday unveiled its first-ever zero emission electric bus, Elec City, scheduled for launch next year at the Hyundai Truck & Bus Mega Fair event.The introduction comes as the automotive company seeks to strengthen its competitiveness in the commercial vehicle sector, with an aim to sell 105,000 commercial vehicles this year while diversifying its revenue streams. Officials of Hyundai Motor and the government pose in front of Elec City, Hyundai’s
[Photo News] LG promotes its monitors at the 2017 PlayX4

TechnologyMay 25, 2017

GAME ON -- Models showcase LG Electronics‘ Gaming Notebook, LG Ultra Wide Gaming Monitor and LG HDR 4K Monitor at the 2017 PlayX4 running from Thursday through Sunday at Kintex in Ilsan, Gyeonggi Province. (LG Electronics)
[Monitor] Korea's old-age dependency ratio to spike

EconomyMay 25, 2017

South Korea’s old-age dependency ratio is forecast to surge to some 80 individuals aged 65 and over for every 100 persons of working age (20-64) by year 2075, which will be the highest among the members of the Organization for Economic Cooperation and Development.Citing the OECD indices, the National Assembly Research Service said that this means 1.25 working-age people would be financially responsible for one senior citizen 60 years from now.Currently, as of 2015, the comparative ratio is
[Superich] Self-made youth start off with zero debt

IndustryMay 25, 2017

Starting a successful business from scratch is by no means an easy or doable task, but some of the youths on Forbes’ top 600 under 30 rich list have done just that.Their commonality? They had zero debt from the beginning. Regardless of how little they had their lack of debt gave them the chance to delve into what they truly wanted to do. The data did show that the majority of those categorized as the young rich came from middle to upper class families that allowed them the ability to pursue thei
Moon to pay for his own private expenditures

PoliticsMay 25, 2017

In another apparent effort to set himself apart from his predecessors, President Moon Jae-in will be using his own money for family meals and commodities while living in Cheong Wa Dae, the presidential office said Thursday. 　 Moon, who took office on May 10 after President Park Geun-hye was ousted for corruption, ordered his secretariat to drastically slash his special activities funds. Under the renewed budget plan, the president will pay for his family meals, commodities and private events whi
Employers blast zero irregular workers plan

EconomyMay 25, 2017

The Korea Employers Federation on Thursday strongly criticized the new government’s policy to eliminate irregular working positions, contending it would further divide the gap between small and large firms. KEF Vice Chairman Kim Young-bae expressed his concerns regarding the Moon Jae-in administration’s pledge to regularize irregular workers at public firms, saying it has negative impacts on job creation and small businesses, during a forum in Seoul on Thursday. Less than a mon
C1 Gas Refinery R&D Center to boost petrochemical industry

IndustryMay 25, 2017

The C1 Gas Refinery R&D Center said Thursday it has been making continuous efforts to increase the price competitiveness of the domestic petrochemical industry while reducing greenhouse gas emissions through the development of C1 gas conversion technology.Amid rising environmental concerns and increasing price volatility in the industry, a group of 100 researchers from Sogang University, Kyunghee University, Ajou University, Seoul National University, KAIST, the Korea Institute of Energy Researc
USFK honors fallen soldiers in Yongsan ceremony

DefenseMay 25, 2017

American troops in South Korea on Thursday commemorated the fallen service members of the United States and South Korea in a ceremony held on the occasion of Memorial Day."Today, we gathered to pay our respects to the fallen, those humble souls who came before us and died in the service of their nations ... to honor what they gave to us," Gen. Vincent K. Brooks, commander of the US Forces Korea said. "And being mindful of our stewardship of that gift, we must ensure that the price paid was not d
President Moon orders government to bolster human rights watchdog

PoliticsMay 25, 2017

President Moon Jae-in on Thursday ordered the government to better abide by the recommendations of the country’s human rights watchdog.Seeking to promote basic human rights, Moon will directly receive regular reports from the National Human Rights Commission of Korea. He may also evaluate government agencies on how well they accommodate the watchdog’s advice.“Underlining that the new government was created by the power of civil revolution, President Moon Jae-in made it clear (that he wanted) to
Opposition condemns ‘text bombing’ as terrorism

PoliticsMay 25, 2017

The first confirmation hearing of President Moon Jae-in’s personnel choices has taken on a new twist, with so-called “text bombs” taking center stage. During the two-day confirmation hearing on Prime Minister nominee Lee Nak-yon, which began Wednesday, opposition lawmakers revealed that they were being bombarded with text messages from the public. The majority of the messages were attacks on the recipients, with many accusing the lawmakers of the same wrongdoings they alleged that Lee carried ou
SC Bank runs promotion for first-time asset management customers

MarketsMay 25, 2017

Standard Chartered Bank Korea is holding an appreciation event until the end of May offering Shinsegae mobile gift certificates to all customers who sign up for its asset management services. The bank said that a first-time customer will be given a mobile gift card worth up to 30,000 won ($27) on all asset services that exceed 1 million won. To qualify for the gift card event, accounts and balances must be maintained until the end of the event date. Money market funds and savings accounts
SKT to launch voice-activated navigation service in Q3

TechnologyMay 25, 2017

SK Telecom will apply artificial intelligence to its mobile navigation service T Map before September, it announced Thursday. “We have embarked on the development of an AI-based navigation service,” said Lee Hae-yeol, head of the T Map division at SK Telecom. “At the earliest, a conversable T Map will be available within the next three months.” (SKT)T Map provided by SKT is the most widely used mobile navigation service. According to the company’s data, 10.6 million people used the service as of
Incheon, Mongolia to enhance ties for joint climate response

May 25, 2017

Incheon Mayor Yoo Jeong-bok met with Mongolian President Tsakhiagiin Elbegdorj on Wednesday and discussed joint climate change responses as well as ways to enhance ties between the two nations, the mayor’s office said Thursday. “As desertification in Mongolia and China is deepening due to global warming, the world should join hands to tackle the phenomenon and yellow sand that stems from it,” the South Korean mayor said during the meeting, which was held at the Mongolian presidential residence I
BOK to lift growth forecast in July, keeps rate on hold

EconomyMay 25, 2017

The Bank of Korea Gov. Lee Ju-yeol said on Thursday that the central bank is likely to revise up the nation’s 2017 growth forecast in July from its April projection of 2.6 percent, citing robust exports and investment.“The economic recovery in April was better than expected. Although private consumption is still weak, exports, facility investment and construction are on a robust trend. Exports and investment are likely to continue to improve going forward,” Lee said at a press