Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Questions raised over fair promotion of RM, NewJeans
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[Newsmaker] New party takes on centrist approach
The New Politics Alliance for Democracy is moving along centrist lines in the hopes of drawing in nonpartisan voters and avoiding an ideological dispute.The March 26 launch ceremony carried a strong undercurrent of national security, an element of politics more closely linked to conservatives. Early in the ceremony, even before the pledge of allegiance, the participants paid their respects to the 46 sailors of the South Korean Navy ship Cheonan that was sunk by North Korea in 2010. The venue was
PoliticsMarch 30, 2014
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[Newsmaker] FSS governor rings changes
According to its usual protocol, the Financial Supervisory Service should have made its regular personnel appointment in March. But this year, the troubled regulator was far too preoccupied. FSS Gov. Choi Soo-hyun, weighed down by an endless string of scandals in the financial industry, decided that the only way out was by changing everything, especially his staff.As such, the financial regulator has agreed to name Park Young-joon, assistant deputy director of financial investment, as new vice g
March 27, 2014
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[Newsmaker] Diamond mine fraud probe reopens
Korean mine developer Oh Deok-gyun, a key figure in a multimillion-dollar stock manipulation scandal, was arrested Wednesday after two years of hiding in Cameroon. The 48-year-old entrepreneur was accused of allegedly acquiring about 90 billion won ($83.2 million) in profits by exaggerating the value of diamond reserves at a mine in Cameroon. “Criminal charges against Oh have been acknowledged and there is a possibility of the suspect fleeing or attempting to destroy evidence,” the Seoul Central
Social AffairsMarch 26, 2014
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[Newsmaker] Prison labor worth W500m a day?
The top court said on Tuesday that it is reviewing plans to revise policies on labor penalties as online critics lambaste its light sentence for a former business tycoon. The court decision to take stern measures against wealthy chief executives attempting to exploit legal loopholes for tax evasion is seen as a belated step in the right direction.In December 2011, the Supreme Court upheld an appellate court’s ruling to sentence former Daeju Group chairman Huh Jae-ho to 30 months in prison with a
Social AffairsMarch 25, 2014
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[Newsmaker] Is rule of law finding its feet in Korea?
It had been common in Korea to see those with money and power, such as owners and executives of conglomerates or even their relatives, acting above the law.Whenever they found themselves in trouble, chaebol would use their status, political connections and wealth to find a way out of the mess they caused.For instance, chaebol and their affiliates would immediately announce plans to contribute to society by investing and hiring more people, and also step up charity efforts to offset public outcry
IndustryMarch 24, 2014
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[Newsmaker] Online authentication reforms in the offing
What does it take for both domestic and foreign consumers to log in and buy items on Korean e-commerce sites?The answer is “patience.” There are about a dozen steps to go through to download security programs, set up personal authentication functions and enter personal information, and on some low-end computers this can take ages. Furthermore, they need to agree to a long list of conditions and hand over sensitive data such as resident registration numbers before typing in their credit card numb
TechnologyMarch 23, 2014
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[Newsmaker] Top regulators have nothing to celebrate
Financial Supervisory Service Gov. Choi Soo-hyun and Financial Services Commission chairman Shin Je-yoon may consider themselves unfortunate, as they are burdened with the role of leading Korea’s financial industry at a difficult time. Shin and Choi would have celebrated their first inauguration anniversary amid much fanfare this week, if it were not for the sluggish economic performance and the escalating pressure for their resignation.Instead of celebrations, the two chiefs have chosen to rema
March 20, 2014
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[Newsmaker] Top regulators have nothing to celebrate
Financial Supervisory Service Gov. Choi Soo-hyun and Financial Services Commission Chairman Shin Je-yoon may consider themselves unfortunate, as they are burdened with the role of leading Korea’s financial industry at a difficult time. Shin and Choi would have celebrated their first inauguration anniversary amid much fanfare this week, if it were not a sluggish economic performance and the escalating pressure for their resignation.Instead of celebrations, the two chiefs have chosen to remain lo
March 20, 2014
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[Newsmaker] World anxious about Putin’s next move
MOSCOW (AP) ― With Crimea in Russia’s pocket, the world anxiously awaits Vladimir Putin’s next move. Beyond the prize of the Black Sea peninsula, a picture is emerging of what the Russian president ultimately wants from his power play: broad autonomy for Ukraine’s Russian-speaking regions and guarantees that Ukraine will never realize the Kremlin’s worst nightmare ― joining NATO. The big question is whether Putin is willing to invade more areas of eastern Ukraine to achieve these goals. In a tel
World NewsMarch 19, 2014
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[Newsmaker] New uncertainty about missing Malaysian jet
KUALA LUMPUR (AP) ― Officials have revealed a new timeline suggesting the final voice transmission from the cockpit of the missing Malaysian plane may have occurred before any of its communications systems were disabled, adding more uncertainty about who aboard might have been to blame.The search for Flight 370, which vanished early March 8 while flying from Kuala Lumpur to Beijing with 239 people on board, has now been expanded deep into the northern and southern hemispheres. Australian vessels
World NewsMarch 18, 2014
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[Newsmaker] Rare meteorites spark gold rush in Jinju
A town in the south of Korea has quickly turned into a hot spot for treasure hunters and researchers, as scientists confirmed that two rocks recently unearthed in the area were rare meteorites.Officials from Jinju, South Gyeongsang Province, said there had been a flood of inquiries about meteorites since two were found at local farms. They added that some people had even visited the area hoping to find a valuable piece of extraterrestrial rock.The market price for meteorites ranges between $5 an
Social AffairsMarch 17, 2014
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[Newsmaker] KCC nominee to fight illegal subsidies
Korea Communications Commission’s chair-nominee Choi Sung-joon vowed to eliminate excessive, illegal smartphone subsidies in the nation’s telecom market on Saturday. “The vicious cycle causing users to run out and buy cheaper smartphones at dawn should end. I will put the utmost effort into eradicating excessive smartphone subsidies with several policies,” Choi, a former judge, told reporters on his way to work in Gwacheon city. His remark came one day after his nomination by President Park Geun
March 16, 2014
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[Newsmaker] Park's metaphors gild the lily
President Park Geun-hye’s use of uncharacteristically colorful expressions as she pushes for regulatory reform is generating ripples across the nation.Politicians on both sides are closely following her words, with some taking to mimicking her to further their own agendas, while her words have decorated newspaper headlines on a daily basis. Since the beginning of February, Park has used increasingly strong expressions to stress the need to ease regulations.On Feb. 5, she called for the governmen
PoliticsMarch 13, 2014
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[Newsmaker] Korean Catholics deserve spotlight
It’s official: Pope Francis is coming to Korea. His visit was widely predicted. In multiple news reports, sources at the Vatican and Seoul had said the papal visit was highly likely. Still, the announcement by the Vatican on Monday was a source of surprise, and of course joy, for many Catholics here because the holy man decided to commit the entire five days of his trip to Asia, his first as pontiff, to Korea. Since becoming pope a year ago, he has received invitations from a number of countries
CultureMarch 12, 2014
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[Newsmaker] Fukushima: Still a long road ahead
FUKUSHIMA, Japan (AFP) ― In complete darkness, a group of men tried everything they could to save the Fukushima nuclear plant from catastrophe. Their struggle was in vain.Three years later, the control room at the site of the worst atomic crisis in a generation ― which forced a hard look at Japan’s energy policy ― sits as a grim time capsule.Helmets, masks, several pairs of gloves and overalls remain as reporters are taken on a tour of the inner sanctum, a first since the accident. Notes are scr
World NewsMarch 11, 2014
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[Newsmaker] ‘My Love’ signals K-drama revival
In China, Korean TV drama “My Love from the Star” seems to have stirred up a syndrome that stands strong even amid a series of national tragedies ― a terrorist attack that left 33 people dead and a flight gone missing with another 152 of its nationals aboard.Kim Soo-hyun, the male lead in the drama, has become the heartthrob of Chinese girls. In the series, he played Do Min-jun, an alien in the form of a perfect male specimen who falls in love with an arrogant A-list actress played by Jun Ji-hyu
TelevisionMarch 10, 2014
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[Newsmaker] Bitcoin creator’s identity still a mystery
WASHINGTON (AFP) ― The world was little closer to knowing for sure who invented Bitcoin Friday, despite Newsweek’s claim to have unmasked the enigmatic “Satoshi Nakamoto” behind the computer-coded currency.The magazine relaunched its print version with an ostensibly huge scoop, identifying 64-year-old Japanese-American engineer Dorian Satoshi Nakamoto as the creator.But the mystery remained after the apparently retired model train enthusiast from suburban Los Angeles asked a reporter to buy him
World BusinessMarch 9, 2014
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[Newsmaker] Economic team blasted for inconsistency
The Park Geun-hye administration appears to be discontented with the economic policies created by Deputy Prime Minister and Finance Minister Hyun Oh-seok.This was suggested through the remarks of Prime Minister Chung Hong-won on Thursday, who claimed that the state economic policy team has failed to gain public credibility due to its inconsistency in carrying out major policies.During a ministerial meeting for national policy fine-tuning, Chung criticized the Finance Ministry’s recent reversal o
March 6, 2014
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[Newsmaker] Gyeonggi to be biggest match of June poll
The Gyeonggi Province gubernatorial race is becoming one of the hottest contests in the June 4 local elections with the ruling and opposition parties going to great lengths to bring their best cards into the game. For the ruling Saenuri Party, five-term lawmaker Rep. Nam Kyung-pil is considered the favorite to fill the post currently held by potential conservative presidential hopeful Kim Moon-soo. Announcing his plans, Nam did not mince words and launched a direct attack on the opposition bloc.
PoliticsMarch 5, 2014
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[Newsmaker] Will new BOK chief pass the first test?
The nomination for the new governor of the Bank of Korea came as a bit of a surprise as many had speculated that President Park would pick an outsider with an academic or political background to guide the central bank amid increasing concerns over a volatile global economy.Instead, on Monday Park nominated Lee Ju-yeol, the central bank’s former senior deputy governor, to take over the governorship after incumbent Kim Choong-soo completes his four-year term at the end of March. Lee, who worked at
March 4, 2014