Scrambling to defuse a massive scandal, South Korean President Park Geun-hye on Tuesday conceded to lawmakers the power to name her new prime minister, a move that could seriously hurt, or even destroy, her ability to govern.Park, who has faced tens of thousands of protesters and an investigation into whether a mysterious confidante manipulated government decisions, made the overture during a meeting with National Assembly Speaker Chung Sye-kyun.Just being forced to work with a deputy named by l

Speaking about his philosophy on innovative design for automobiles at the Herald Design Forum 2016 on Tuesday, Henrik Fisker, the legendary Danish-born automotive designer known for his sophisticated electric vehicle designs, said, “Emotional connection is what attracts more consumers looking for something new and innovative.” Companies that always choose the safe way “are bound to disappear in the next 10 years,” he said.From his vantage point, the automotive industry, especially the electric v

London-based Korean fashion designer Choi Eu-don gave a lecture titled “Art Embracing Business: Business Embracing Art” at the Herald Design Forum 2016 in Seoul on Tuesday. Choi, who serves as the CEO of his namesake fashion brand Eudon Choi, recently re-launched the brand’s e-commerce site to reach more consumers worldwide.  Fashion designer Choi Eu-don speaks at the Herald Design Forum 2016 held at the Grand Hyatt Seoul on Tuesday. (Park Hae-mook/The Korea Herald)“Designers usually deal with w

South Korea's government on Tuesday said it remains cautious about lawmakers' push to fully compensate local firms that operated factories at the now-shuttered joint industrial complex for their losses following Seoul's decision to close the factory park.The government has provided 460.7 billion won ($405.7 million) out of about 500 billion won in state funds to 123 South Korean companies which ran factories at the Kaesong Industrial Complex, according to Seoul's unification ministry.Despite the

Daewoo Shipbuilding & Marine Engineering Co. is ratcheting up efforts to sell its assets to secure cash amid a protracted slump, industry sources said Tuesday.According to the sources, the troubled shipyard has recently named a preferred bidder for Welliv Co., one of its money-making units, which is involved in the food service, hotel and travel businesses. Earlier this month, the shipyard also inked a deal to sell its ship-design affiliate, DSEC Co., to a local private equity fund. Daewoo Shipb

The Korea Development Bank, a major South Korean policy lender, plans to provide 2.5 trillion won ($2.2 billion) to 200 promising small and medium-sized companies, a senior bank official said Tuesday.Kim Keon-yeol, an executive director of the KDB, said in a seminar at the National Assembly that the proposed injection of the funds will begin next year and is meant to nurture small and medium-sized companies.Kim said nurturing small and medium-sized companies into intermediate ones has gained urg

South Korea allowed its coast guards to engage more aggressively with foreign fishing boats operating illegally in its waters under new guidelines released Tuesday. The Ministry of Public Safety and Security announced a set of revised rules regarding the Coast Guard's use of weapons, under which the on-site commanders will exercise the authority to decide whether to fire crew-served weapons in case the foreign boats violently resist crackdown operations. The new guidelines also allow the command

Britain on Tuesday sent its fighter jets to South Korea for the first time since the Korean War to join the first-ever trilateral combined air exercise with the US amid growing threats from North Korea. Four Eurofighter Typhoons arrived at Osan Air Base in Pyeongtaek, 70 kilometers south of Seoul, Tuesday morning along with a Voyager tanker aircraft, a C-17 Globemaster III transport aircraft and around 200 British airmen as part of the weeklong "Invincible Shield" drill that ends Thursday, the A

지난 5일 대구 박근혜 대통령 퇴진 집회 중 한 고등학교 2학년 여학생이 7분 남짓 발언한 녹화영상이 사회공유망서비스(SNS)를 강타했다. 조성해 양은 “최순실은 게이트 역할일 뿐...박 대통령이야말로 모든 문제의 근원이자 본질”이라 역사교과서 국정화, 한반도 사드배치, 위안부 합의, 세월호 참사 등 그간의 대통령 정책과 대처를 질타했다. 조 양은 “우리는 ‘꼭두각시 공주’의 어리광을 받아주는 ‘개·돼지’가 아니다”며 강력히 박 대통령의 하야를 촉구했다.(사진=페이스북 영상 캡쳐)<발언 전문>이렇게 많은 분들이 와주신 걸 보니 제가 혼자가 아닌 것 같아서 굉장히 힘이 됩니다.우리는 오늘 박 대통령, 사실 그녀를 무엇으로 불러야 할 지 굉장히 고민을 많이 했습니다만, 이 세상 어느 나라 어느 사전에도 나라를 무당에게 맡기고 꼭두각시 노릇을 한 지도자를 칭한 호칭이 없어서 아직은 부득이하게 대통령이라 칭하도록 하겠습니다.우리는 오늘 박 대통령이 국가권력을 사유화한 최순실씨와 함께 국민을

Herald Design Forum -- Asia’s largest conference exploring influential design ideas -- gathered over 800 participants Tuesday, many coming from disparate fields, for a day of unparalleled inspiration. At the Grand Hyatt Seoul, design specialists, scholars, students, bureaucrats and diplomats listened to the near-revolutionary ideas of industry gurus. Under the banner “Design for convergence,” the forum delved into ingenious ways design, technology and business are coalescing thinking, connecting

연예인, 항공사 승무원, 폭력조직원 등이 인터넷 사이트와 채팅 애플리케이션을 통해 필로폰이나 대마 등을 사서 투약했다가 무더기로 경찰에 적발됐다.인천 연수경찰서는 마약류 관리에 관한 법률 위반 혐의 등으로 탤런트 A(33)씨와 모 항공사 승무원 B(23·여)씨 등 90명을 적발해 이들 중 6명을 구속하고 나머지 84명을 불구속 입건했다고 8일 밝혔다.A씨 등은 올해 3월부터 10월 말까지 인터넷 사이트에 올라온 마약 판매 글을 보고 연락해 필로폰이나 대마를 산 뒤 투약한 혐의를 받고 있다.이들은 목재 회사 등 관리되지 않은 인터넷 사이트나 포털 사이트 게시판 등지에 올라온 "아이스(마약) 팝니다"는 글을 보고 판매자와 접촉했다.이후 수사망을 피하기 위해 텔레그램이나 위챗 등 외국 애플리케이션을 통해 연락을 주고받았다.A씨는 경찰에서 "호기심에 대마를 구입해 흡입했다"고 진술했다.A씨는 2008년 SBS 드라마 '타짜'와 '온에어'를 비롯해 2012년 SBS '부탁해요 캡틴', 올해

New design and different looks do grab people’s attention. The essence of architecture, however, lies in allowing the structures to blend in with the surrounding nature and helping people freely enjoy the space with each other, said Kazuyo Sejima, a Pritzker Architecture Prize-winning architect.Pritzker Award-winning architect Kazuyo Sejima. (Park Hae-mook/The Korea Herald)Speaking at the 6th Herald Design Forum held Tuesday at the Grand Hyatt Seoul, the Japanese architect shared her experiences

The "Korea Sale Festa," a government-led monthlong shopping festival in October, contributed to the nation's economic performance to some degree, a government report said Tuesday, estimating the event will raise the fourth-quarter gross domestic product by 0.13 percentage point.The "Korea Sale Festa," which was held from Sept. 29 through Oct. 31 to boost domestic spending and draw more foreign tourists, is also projected to have boosted the quarterly growth in private consumption expenditures by

South Korea launched its eighth 1,800-ton submarine on Tuesday in an effort to reinforce its maritime combat capability in the face of North Korea’s growing threat including its submarine-launched missiles. The Lee Beom-seok submarine, named after a renowned independence fighter, was unveiled in the shipyard of its manufacturer Daewoo Shipbuilding & Marine Engineering Co. (DSME) in Geojedo, 333 kilometers (207 miles) south of Seoul. It is scheduled to be deployed in late 2018 after a test and re

The issuance of asset-backed securities (ABS) in South Korea shrank considerably in the third quarter of 2016 from a year earlier on less issuance of mortgage-related products, government data showed Tuesday.The amount of ABS issued during the July-September period totaled 15.2 trillion won ($ 13.3 billion), down 25.2 percent on-year, according to the Financial Supervisory Service (FSS).The decline came as the state-funded Korea Housing Finance Corp. (KHFC) scaled down its issuance of mortgage-b

South Korea's Army on Tuesday conducted an air infiltration drill with the support of US helicopters in a move to better counter growing nuclear and missile threats posed by North Korea. The latest maneuver is part of the broader Hoguk combined drill, which the Army, Navy, Marine Corps and Air Force have carried out every year since 1996. The two-weeklong Hoguk combined exercise will run through Nov. 11.Some 250 South Korean soldiers from the 30th Mechanized Infantry Division boarded helicopters

South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. continue to dominate the local market despite a recent drop in their sales here as they together hold nine of the 10 best-selling cars, data showed Tuesday.The two carmakers form Hyundai Motor Group, the world's fifth-largest automotive group by sales.According to the companies, the Hyundai Avante, sold as the Hyundai Elantra in some parts of the world, was the best-selling car here with 78,253 units sold in

Corporate feud over the source of a toxin strain used in Botox injections has raised safety concerns among consumers, who lay the blame on the state drug safety agency for standing akimbo even when the controversy is growing.Officials at the Ministry of Food and Drug Safety reaffirmed Tuesday that the safety and effects of Botox products allowed in the country have been verified, dismissing accusations between companies that have been arguing over the source of the botulinum toxin that rivals ha

Business representatives of South Korea and Japan gathered Tuesday to discuss ways to step up cooperation in emerging technology sectors, such as artificial intelligence (AI) and the Internet of Things (IoT). Chairmen of the Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI), as well as 30 other regional chamber chiefs of the two nations, held a meeting in Songdo, west of Seoul.  "As the global trade market remains in the doldrums, emerging econom

North Korea will not feel safe about the results of the US presidential election as Washington is surely to place top priority on its security whoever wins the White House, a government official in Seoul said Tuesday.The assessment comes as US voters are heading to the polls Tuesday (local time) to elect Hillary Clinton or Donald Trump as their next chief executive.The official, who wanted to remain anonymous, said that while North Korea seems to think Republican candidate Trump will be less hos