Most Popular
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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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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Woman dangling from power lines rescued by residents holding blanket
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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[Newsmaker] Britain’s Loach wins Cannes honor
British director Ken Loach won the Palme d’Or top prize at Cannes on Sunday for the second time in a decade with his moving drama “I, Daniel Blake” about the shame of poverty in austerity-hit Europe. The award marked a major upset at the world’s top film festival in favor of the left-wing director, who turns 80 next month and is known for shining a light on the downtrodden. He beat runaway favorites including the rapturously received German comedy “Toni Erdmann” by Maren Ade, one of three female
FilmMay 23, 2016
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[Newsmaker] Taliban leader Mansour is man of war, not peace talks
Taliban leader Mansour: man of war, not peace talksKABUL -- Afghan Taliban leader Mullah Akhtar Mansour, who according to U.S. officials was probably killed in a drone strike, took over as head of the insurgent movement last July following the revelation that the group‘s founder Mullah Omar had been dead for two years.He was initially thought to favor peace talks with the government, but after becoming leader he repeatedly refused to come to the negotiating table.For some Mansour was the obvious
World NewsMay 22, 2016
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[Newsmaker] Dongbu Group chief faces insider trading probe
Korea’s financial watchdog said Wednesday it is likely to report steel-making giant Dongbu Group founder and chairman Kim Jun-ki to the prosecution for insider trading charges.“The authorities have been looking into stock trading records of the tycoon to figure out whether he conducted unfair transactions based on insider information about faltering Dongbu Engineering & Construction,’’ an official from Financial Supervisory Service said, adding the case will be referred to the prosecution if the
IndustryMay 18, 2016
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[Newsmaker] Activist song roils nation
Over the past decade, South Korea has faced ideological debates every May over the song “March for Our Beloved” -- whether it should be an official song during a ceremony to honor the victims of the pro-democracy uprising in Gwangju and whether it should be left up to the participants to sing-along.The dispute is likely to be repeated this year -- and perhaps even intensified -- in the run-up to the May 18 ceremony as the government on Monday rejected a call to designate the controversial song a
PoliticsMay 16, 2016
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[Newsmaker] Maduro cracks down with emergency decree
Venezuelan President Nicolas Maduro announced a sweeping crackdown Saturday under a new emergency decree, ordering the seizure of paralyzed factories, the arrest of their owners and military exercises to counter alleged foreign threats.The embattled leftist is struggling to contain a raging economic crisis that has led to food shortages, soaring prices, riots, looting and vigilante justice, pushing Venezuela to the brink of collapse.He accused the United States on Friday of destabilizing the cou
World BusinessMay 15, 2016
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[Newsmaker] Rousseff: From insurgent to impeachment
Dilma Rousseff survived torture as a guerrilla opposing Brazil’s military dictatorship. Four decades later, as president, she’s fighting for her political survival.After those dark days in the 1970s, when Rousseff belonged to a violent Marxist underground group, she rose to become Brazil’s first female president.Less than a year into her second term, though, she faces being suspended from office this week for an impeachment trial in the Senate on charges that her government took unauthorized loa
World NewsMay 12, 2016
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[Newsmaker] Obama to make historic visit to Hiroshima
WASHINGTON (AFP) -- Barack Obama will this month become the first sitting U.S. president to visit Hiroshima, but the White House is scotching talk of an apology for the devastating 1945 nuclear bombing of the city.Obama, accompanied by Prime Minister Shinzo Abe, will make the deeply symbolic visit on May 27, after attending a G7 summit in south-central Japan, his spokesman Josh Earnest said Tuesday.The White House described the trip as an effort to highlight the U.S. “commitment to pursuing the
World NewsMay 11, 2016
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[Newsmaker] Duterte wins Philippine presidential race
Incendiary Philippine politician Rodrigo Duterte vowed Tuesday a relentless crackdown on crime after securing a landslide presidential victory built on foul-mouthed populist tirades that exposed deep voter anger at the establishment. Mayor Rodrigo Duterte gestures during his news conference in Davao in the southern Philippines on Monday. (AP-Yonhap)The 71-year-old firebrand's main rivals conceded defeat after an unofficial tally showed Duterte had an insurmountable lead in Monday's election of 6
World NewsMay 10, 2016
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[Newsmaker] Musk's strategy: Win big by falling short
Tesla Motors Inc.'s Chief Executive Officer Elon Musk is known for making the future come early. And yet, somehow, he's always running behind schedule. Some would call this a failure of management. But it might just be a business strategy: call it the Musk Doctrine. It goes something like this: People only do paradigm-shifting work when they’re under tremendous pressure, so the key is to ensure deadlines are always impossible. This could help explain why Musk has never launched a product on time
MobilityMay 9, 2016
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[Newsmaker] Saudi Aramco chief named oil minister
Saudi Arabia replaced its veteran oil minister with a close ally of the king’s increasingly influential son, Deputy Crown Prince Mohammed bin Salman, as the world’s largest crude exporter embarks on an economic overhaul designed to make it less reliant on energy.After more than two decades in the post, Ali Al-Naimi, who’s been the central player in scores of OPEC meetings and steered global crude markets through several boom-and-bust cycles, will be succeeded by Khalid Al-Falih, currently chairm
World NewsMay 8, 2016
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[Newsmaker] Alberta fire threatens oil production, helps boost price
The massive wildfire in the heart of Canada's oil country is helping send crude prices higher.Benchmark U.S. crude rose 34 cents to $44.66 a barrel Friday in New York after earlier dropping by nearly 2 percent. Oil prices often spike when there is concern that production could be curtailed. A wildfire moves toward the town of Anzac on Wednesday, where was set up as an evacuation center for those ordered to leave Fort McMurray. (AP)Canada is the leading exporter of crude oil and natural gas to th
InternationalMay 7, 2016
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[Newsmaker] Parliament pins hopes on new whips
With the impending start of the new National Assembly session, political parties are counting on their newly elected floor leaders to join forces and add momentum to the long-stalled legislature. The new whips -- Chung Jin-suk of the ruling Saenuri Party, Rep. Woo Sang-ho of The Minjoo Party of Korea and Rep. Park Jie-won of the People’s Party -- vowed to achieve “coordinated governance,” claiming that their professional and personal ties would be of help.From left: The Saenuri Party floor leade
PoliticsMay 5, 2016
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[Newsmaker] Hyundai Heavy pressured to make layoffs
Hyundai Heavy Industries is highly likely to push for massive layoffs amid a prolonged recession in the global shipbuilding sector and the government’s move to restructure the ailing industry. Over the past few weeks, the troubled world’s No. 1 shipbuilder is rumored to be planning an additional cut of 3,000 employees -- most likely from its production line -- in the form of voluntary retirement programs. The firm already cut around 60 executives in April and around 1,500 office workers last yea
IndustryMay 4, 2016
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[Newsmaker] Elusive bitcoin founder a reluctant identity
Secretive Australian entrepreneur Craig Wright, who has revealed himself as the creator of the virtual Bitcoin currency, is an elusive individual who appears to have covered his tracks well.Details are scant on the Brisbane-born computer scientist, 45, who has a blog but warns against any of the content being published without his permission. He admitted on Monday to being the creator of the cryptocurrency after months of speculation about his role, providing technical “proof” amid debate over w
World NewsMay 3, 2016
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[Newsmaker] RB’s London office targeted in disinfectant case
Despite an official apology by Oxy Reckitt Benckiser on Monday, South Korea’s prosecution is reportedly zeroing in on executives from its head office in London over allegations that they connived to conceal evidence on the toxicity of humidifier sterilizers blamed for the loss of at least 103 lives here.According to reports, the prosecution has decided to investigate officials at Reckitt Benckiser’s headquarters, after securing testaments and circumstantial evidences that they had remained silen
IndustryMay 2, 2016
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[Newsmaker] ‘Iranian rush’ poses diplomatic challenges
South Korea’s efforts to improve relations with sanction-freed Iran, while providing new momentum for its economy, is likely to come with a few challenges for its diplomatic blueprint.Citing Iran’s alleged military exchanges with North Korea, as well as its persisting tension with Middle East power Saudi Arabia, experts suggested that South Korea should maintain balance amid the multilateral frame.It was Iranian Ambassador to Korea Hassan Taherian who stepped out to clear doubts on Iran’s partne
PoliticsMay 1, 2016
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[NEWSMAKER] Tense protests against Trump in California
BURLINGAME (AFP) -- Hundreds of demonstrators jostled with police in riot gear outside a California hotel where Republican presidential frontrunner Donald Trump gave a speech, forcing the candidate to duck into a back entrance.At one point, several dozen protesters broke through barricades and attempted to storm the hotel where the California Republican Party Convention was taking place on Friday, but police, some wielding batons, were able to push them back.The demonstrators waved banners that
InternationalApril 30, 2016
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[Newsmaker] Samsung BioLogics to make blockbuster IPO
Samsung BioLogics on Thursday said that it would pursue an initial public offering on South Korea’s main bourse, the KOSPI, with plans to complete the IPO process within this year.The company stated plans to select advisers to lead its IPO by next month to decide on the exact timing and the volume of shares to be offered. Samsung BioLogics declined to comment on the potential size of the IPO. However, industry analysts estimate at least 3 trillion won ($2.6 billion) worth of new shares will be i
IndustryApril 28, 2016
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[Newsmaker] KDB burdened by corporate debt restructuring
State-owned Korea Development Bank was founded in 1954 with a specific goal and role -- to back the government’s industrial policies by providing necessary capital to help companies innovate, grow and most importantly, create jobs.But 62 years later, with a plethora of companies failing to meet their debt obligations and facing inevitable restructuring through asset sales and job cuts, the policy bank has now turned into a “fireman” who will have to put out the fire caused by corporate mismanage
April 27, 2016
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[Newsmaker] Former Hanjin Shipping chief faces FSC probe for dubious trading
Hanjin Shipping’s former chairwoman Choi Eun-yeong has come under scrutiny by financial authorities over suspicions that she might have used insider information to sell her shares in the troubled firm. According to sources Tuesday, the former chief and her two daughters sold their 970,000 company shares -- 0.39 percent of the total shares -- worth 3 billion won ($2.6 million) three days before the company’s board of directors decided to file for creditor-led rehabilitation on Friday. Hanjin Ship
IndustryApril 26, 2016