November 10, 2022 13:12 A North Korean ballistic missile slammed into South Korean waters off Sokcho in Gangwon Province on Nov. 2 even as the country grieved for the victims of the Halloween stampede in Itaewon. Air-raid sirens forced Ulleung islanders to flee or scurry for shelter. For the first time since the 1950-53 Korean War, the North fired a missile south of the Northern Limit Line, the de facto maritime border. The North fired a total of 25 missiles on that day, but South Korean politicians remained calm and the public was also surprisingly tranquil despite the unprecedented provocation. Until recently North Korea refrained from provocations when the South suffered a major tragedy. When the ferry Sewol sank in 2014 with over 300 mostly young students on board, the North was unusually quiet. But not this time. North Korean leader Kim Jong-un was incensed when a U.S. nuclear-powered aircraft carrier was engaged in naval drills in the South and hundreds of American and … [Read more...] about Are We Too Complacent About N.Korean Threats?
November 14, 2022 11:12 The leaders of South Korea, the U.S. and Japan pledged to put up a united front against the North Korean nuclear threat and China. In a joint statement Sunday they vowed to coordinate their response to the North Korean nuclear threat, global supply chains, energy and security issues and climate change. "Trilateral cooperation between South Korea, the U.S. and Japan that began with responses to North Korea's nuclear threat is growing into a cooperative framework playing a much wider role including a concerted response to China," a government official here said. President Yoon Suk-yeol sat down with U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on the sidelines of the ASEAN Summit in Phnom Penh, Cambodia. Their joint statement hints heavily at curbing China's hegemonic ambitions in the region, referencing a "safe" Indo-Pacific region, partnerships, economic prosperity and technological leadership. But it also touched on … [Read more...] about S.Korea, U.S., Japan Vow to Contain N.Korea, China
November 14, 2022 10:51 The central Chungcheong region of Korea has been chosen as the host of the Summer World University Games, known as the Universiade, in 2027. The International University Sports Federation (FISU) on Saturday announced that the cities of Daejeon and Sejong and the provinces of South and North Chungcheong were collectively voted to host the Universiade. It won 14 votes out of 22 at an executive committee meeting on the same day. The U.S. state of North Carolina, where university sports are hugely popular, was Chungcheong's main competitor for the bid. Many U.S. sports stars hail from the state, including basketball legend Michael Jordan. In its presentation for the bid, Chungcheong pledged financial support from the central and local governments, while North Carolina vowed to find sponsorship from the private sector. Chungcheong also offered to cover participation expenses for athletes from developing countries. Held every second year, the World … [Read more...] about Korea to Host World University Games for 4th Time in 2027
November 14, 2022 12:59 Over 10 million new savings accounts are likely to be opened at the country's five major banks this year as interest rates rise and bourses tank. According to the Financial Supervisory Service on Sunday, 8.16 million new savings accounts had already been opened at KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup banks by September. At this rate the number is expected to surpass 10 million by year-end. The previous record was in 2020 when 9.47 million new savings accounts were opened. Women in their 20s opened the biggest proportion with 1.56 million, followed by women in their 30s with 1.31 million new savings accounts. Next were men in their 20s with 1.13 million. The number of time deposit accounts opened at the five banks stood at 5.32 million in the first nine months of this year, already surpassing last year's total of 4.57 million. Older women spearheaded new time deposit accounts, with those in their 50s opening 790,000, followed by … [Read more...] about Triumphant Return of Savings Accounts as Interest Rates Rise
February 28, 2019 12:44 Hyundai on Wednesday presented a blueprint for its future and pledged to invest W45.3 trillion, most of it in research and development (US$1=W1,119). Until 2016, Hyundai allocated just 55 percent of its total spending to R&D and the rest to building factories and other facilities, but now that proportion is to rise to 77 percent. In 2014 and 2015 when Hyundai and affiliate Kia saw automobile sales peak at 8 million vehicles a year, the automotive giant focused its investments in building factories in China. But sales have dwindled there ever since. The new investment Hyundai announced is 1.6 times larger than the money it spent over the last five years, so the money for R&D has effectively doubled. The spending plan is even more remarkable since Hyundai’s operating profit fell from W8 trillion from 2011 to 2013 to W2.4 trillion last year. "The automotive industry is experiencing a major transformation which hasn't been seen in a … [Read more...] about Hyundai to Make Massive Investment in R&D
October 08, 2020 11:06 Hyundai Mobis will invest US$25 million in Envisics, a U.K.-based leader in augmented reality head-up displays (AR HUDs), Korea's largest auto parts maker said on Wednesday. AR HUD technology projects directly into the driver's field of vision graphic images and information about the streets, buildings, cars and people that drivers see through their windshields. Envisics is a pioneer in dynamic holographic technologies for AR HUDs in cars now in production. Hyundai Mobis said in a statement on Wednesday it plans to "jointly develop autonomous driving specialized AR HUDs with Envisics" with the aim of mass production by 2025. "We will proactively present the next-generation AR HUD solutions to global carmakers for increased safety and convenience to avoid distracting drivers," it added. Hyundai to Invest Billions in Car Software Hyundai's Sales Surpass W100 Trillion Again Hyundai Breaks Ground on R&D Center in Singapore … [Read more...] about Hyundai Mobis to Invest in British AR Display Tech Firm