A major turning point in US-Chinese relations occurred Thursday. It nominally involves the future of Hong Kong, but has major significance for Washington and the wider world. China’s National People’s Congress approved a security law that will allow Beijing’s security agencies to crack down directly on the civil liberties of Hong Kong residents, who have been protesting the regime’s indirect efforts to shrink their freedoms since last summer. China promised Hong Kong a

The Chinese consumer has been one of the most important drivers of the world economy over the past decade, fueling hopes of prolonged growth and profits. So it’s worth looking at what’s happening to household balance sheets as COVID-19 wreaks havoc on a population now feeling the downside of growing personal leverage from the boom. In the last major financial crisis, big-spending Americans were hit hard, but the Chinese found new ways to open their wallets and took the rest of the

The Korea Herald is running a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed. Prices of Asian US dollar-denominated corporate bonds have fallen this year. This raises the question: do they now offer attractive value? The average yield premium offered by the bonds over US Treasury yields (credit spread) looks more attractive than it has been in many years, despite the recent rebound. However, one cannot help but wor

Government-rationed masks will be available for purchase at pharmacies on any day of the week, starting from Monday, according to the government on Sunday. People under the age of 18 will be allowed up to five masks per week, two more than adults, given the resumption of in-person classes at schools nationwide. The measure comes as part of the changes introduced to the public mask distribution system, which was first introduced in February at the height of novel coronavirus fears and has

How logistics centers became hot spots for COVID-19 infections

The fight against cancer is continuing despite the worldwide turmoil amid the coronavirus pandemic. The American Society of Clinical Oncology, the most authoritative annual gathering of anti-cancer drug researchers, chose to proceed with this year’s event online. The ASCO20 Virtual took place from May 29-31, inviting some 40,000 experts from over 70 countries to speak on various forms of tumors and the attempts to discover new, more advanced treatments for different types of cancer. Fr

An audit review committee under South Korea’s financial regulator has concluded that tobacco maker KT&G did not intentionally violate accounting rules when it acquired an Indonesian firm in 2011, according to news reports Sunday. The latest decision, when officially announced, will likely help the Korean tobacco giant to eliminate delisting concerns. In a meeting last Thursday, the committee reportedly decided that the breach of local accounting rules was mere “gross negli

Though fears concerning the novel coronavirus persist among the public, the film industry is ushering people to cinemas with discount coupons for movie tickets. The Korean Film Council, a state-funded institution, will be giving out discount coupons for movie tickets over a three-week period starting Monday, as part of its measure to revive the industry now staggering from the impact of the coronavirus pandemic. Cinemagoers will be able to receive a 6,000 won ($4.90) discount per movie ticket

Just as they thought it was safe to reopen, theaters in Korea will continue to remain in hiatus as the South Korean government has brought back stricter social distancing norms. After several new infection clusters of the novel coronavirus cropped up in the Seoul metropolitan area, the government ordered all state-funded cultural facilities in Seoul, Incheon and Gyeonggi Province to shut down. Following the order, four performing arts centers -- National Gugak Center, National Theater of Kore

The combined market cap value of South Korea’s 10 largest companies account for almost 45 percent of the entire market, as IT and bio companies gained popularity amid the continued COVID-19 pandemic, data showed Sunday. According to the country’s bourse operator Korea Exchange, out of the 789 listed companies on the main bourse Kospi, the top 10 companies accounted for 44.7 percent in market cap as of Friday. The figure was up 2.6 percentage point from Jan. 2 this year -- before

Samsung Group, South Korea's top conglomerate, said Sunday it is considering expanding its remote hiring process after wrapping up its first-ever online recruitment exam amid the coronavirus pandemic. The Global Samsung Aptitude Test (GSAT), an entrance exam for those who seek jobs at Samsung, was conducted online for the first time this weekend. "With the result of the first online exam, we will upgrade our hiring system and plan to utilize online-related solutions in various recruiti

The new parliament, now heavily tilted to the left, began its four-year term Saturday, with a full plate of work amid the global COVID-19 pandemic. And ruling Democratic Party of Korea Floor Leader Kim Tae-nyeon on Sunday called on opposition parties for cooperation to allow the 21st National Assembly to set out to handle pandemic-related legislation swiftly. “The Democratic Party will open the National Assembly on June 5 to pick the speaker and deputy speaker of the assembly,”

Samsung Electronics and LG Electronics -- the two biggest tech firms in South Korea -- are likely to scale back their participation in IFA 2020, amid the prolonged COVID-19 pandemic, according to industry sources Sunday. However, the two firms have not yet finalized their plans to participate in the largest tradeshow for home appliances in Europe, slated for September. The IFA 2020 will be held onsite from Sept. 3-5 at the Messe Berlin exhibition hall as usual, the show’s organizer ann

Seoul says will discuss the matter with US; experts say invitation entails opportunity and risk