Seoul Metro conductor's toilet break delays 125 trains

Seoul subway Line No. 2 was delayed over 20 minutes during morning rush hour due to a conductor taking an urgent toilet break on Monday, according to Seoul Metro. The conductor who was driving a train on the outer lane of the circular route had to leave the train urgently to use the toilet in a station at 8:11 a.m. While an engineer watched the train, the conductor ran down the platform and returned in 4 minutes 16 seconds after using the restroom on another floor. However, the 125 trains follow

Social AffairsNov. 27, 2024

Yoon receives Ukrainian special envoy; Seoul silent on possibility of weapons aid

President Yoon Suk Yeol met with a delegation from Ukraine led by the country's Defense Minister Rustem Umerov on Wednesday at his office in Seoul, according to Yoon's office. Yoon was quoted by the presidential office as saying that he hoped South Korea and Ukraine could find a practical breakthrough to counter the security threat posed by military cooperation between North Korea and Russia. Yoon's office did not disclose what Umerov said during his meeting with Yoon. Following t

PoliticsNov. 27, 2024

Presidential office worries over impact of Trump's proposed tariffs on Korean firms in Canada, Mexico

The presidential office on Wednesday expressed concerns about the potential impact of President-elect Donald Trump's proposed tariffs on Korean businesses in Mexico and Canada, vowing proactive measures to address the risks. Sung Tae-yoon, the presidential chief of staff for policy, held an interagency meeting to assess the potential effects of Trump's pledge to levy a 25 percent tariff on all products from Mexico and Canada, along with an additional 10 percent tariff on China. Trump&#

PoliticsNov. 27, 2024

Korea's birthrate shows signs of recovery

South Korea in September saw the largest on-year increase in the monthly number of childbirths in nearly 14 years, government data showed Wednesday. According to Statistics Korea, 20,590 babies were born in September, which was 1,884 more than the same month in 2023. The on-year increase was the largest since January 2011 percentage-wise, and the most since March of 2015 in terms of the number of babies born. It was the third straight month in which 20,000 or more babies were born, with 20,601 i

Social AffairsNov. 27, 2024

Yonsei University to hold additional essay test amid question leak controversy

The Ministry of Education approved Yonsei University's plan to conduct an additional essay test for natural sciences applicants after the original exam -- part of the 2025 admissions cycle -- was marred by a leaked question. The decision aims to resolve ongoing legal disputes over the leak and stabilize the university’s admissions process. The additional test, scheduled for December 8, comes in response to a court ruling that suspended the results of the original exam after proctors a

PoliticsNov. 27, 2024

[Global Finance Awards] Viva Republica transforms financial ecosystem

  Viva Republica, operator of the mobile financial service Toss, has been paving the way in shifting the dynamics of the traditional financial environment with its innovative services. With the goal of providing a full range of financial solutions through a single super app, Toss, Viva Republica has introduced a wide array of cutting-edge services, from banking and brokerage to insurance and beyond. Toss made its name in August 2021 by not charging commissions for transfers, a feat that sho

IndustryNov. 27, 2024

Seoul blanketed by heaviest Nov. snow, with more expected

Heavy snow warnings were issued across the country as South Korea -- especially the Greater Seoul area and Gangwon Province -- experienced heavy snowfall nationwide, with more expected overnight. According to the Korea Meteorological Administration, more than 20 centimeters of snow covered parts of Seoul as of 7 a.m., Wednesday morning. Normally, a warning is issued by the KMA when snowfall is expected to reach above 20 cm within 24 hours. The last time a snowfall warning was issued by the KMA

Social AffairsNov. 27, 2024

[Global Finance Awards] Hanhwa Life secures bigger footing in overseas markets

As insurance companies grapple with finding new growth drivers, Hanwha Life has shifted its focus overseas, exploring new markets and sectors while expanding partnerships. A key milestone has been reached in Vietnam, where Hanwha Life’s local subsidiary achieved its first cumulative profit since entering the market in 2008. This marks the first such accomplishment among fully owned overseas subsidiaries of a Korean insurer. Building on this momentum, Hanwha Life aims to become the fifth-la

IndustryNov. 27, 2024

From candy to CPR, police step up to save citizens in need

Several stories of police officers stepping up to provide urgently needed medical attention have been reported across the country this week. The Seoul Metropolitan Police Agency said Tuesday that a quick-thinking police officer saved a woman suffering from hypoglycemia by buying candy for her. In a video posted on the SMPA's official YouTube page, the woman can be seen falling to the floor in Geumcheon-gu, Seoul on Nov. 18, shaking and unable to communicate. A police officer from the Seoul

Social AffairsNov. 27, 2024

Ador calls for Belift Lab’s ‘sincerity’ in Hanni workplace harassment case

NewJeans' agency Ador, on Wednesday, called on its sister company Belift Lab to demonstrate a sincere and respectful approach to the recent workplace harassment allegations involving member Hanni. The demand came just one day before the deadline for NewJeans’ ultimatum that Ador “rectify all major contract violations within 14 days” or they will terminate their exclusive contracts with the agency. Among the conditions listed in NewJeans’ certification of contents sen

K-popNov. 27, 2024

Youth groups remember the Korean War

Two student organizations hosted a peace forum and concert at Imjingak, a site near the Demilitarized Zone, the buffer zone between South and North Korea, to commemorate the Korean War and honor its veterans. The groups -- the Mind Shelter Project and Past for Present -- organized the "Youth International Peace Forum and Concert" in the lead-up to UN Veterans International Memorial Day on Nov. 11, building on their inaugural event from last year. The program, themed, "Unforgetting

Social AffairsNov. 27, 2024

[Global Finance Awards] Mirae Asset Securities within reach of global top-tier ambition

Mirae Asset Securities, South Korea's largest stock brokerage company, has shown unparalleled performance with its aggressive global expansion strategy and significantly increased customer assets, despite the higher interest rate environment that put pressure on stock valuations. Managing the largest overseas stock balance and pension assets in Korea, Mirae Asset has generated solid profitability centered on asset management this year. Its customers’ investment returns from overse

CompaniesNov. 27, 2024

[Global Finance Awards] Kakao Bank bolsters SE Asia foray with Superbank partnership

Kakao Bank, a major online lender in Korea, is bolstering its presence in Southeast Asia with reinforced partnerships with Indonesian digital bank Superbank. The bank on Wednesday announced it has signed a contract to collaborate on developing new financial products with Superbank, a digital bank in which Kakao Bank is one of the major shareholders. According to the new contract, Kakao Bank will provide consulting for Superbank’s new financial products, leveraging its expertise in mobile

IndustryNov. 27, 2024

[Global Finance Awards] Mirae Asset bolsters global presence with W370tr under management

Mirae Asset Global Investments has continued to expand its presence in global markets. Of its total assets under management at 370 trillion won ($265 billion), almost 40 percent are now managed overseas. When Mirae Asset first ventured into overseas markets back in 2003, it was met with considerable skepticism. Critics doubted whether the company could compete with established giants such as Goldman Sachs and Merrill Lynch. However, Mirae Asset Founder Park Hyeon-joo recognized the long-term p

IndustryNov. 27, 2024

[Global Finance Awards] Kyobo Life enhances insurance coverage for cancer, long-term care

Kyobo Life Insurance, one of Korea’s leading life insurers, has launched a new life insurance plan that combines the benefits of whole life insurance with added lifetime protection for cancer and long-term care. The “Kyobo Cancer and Whole Life Care Insurance” provides financial support for policyholders diagnosed with cancer or requiring long-term care. During the premium payment period, the plan guarantees a full refund of premiums paid under the main contract, while waiving

CompaniesNov. 27, 2024

[Global Finance Awards] Shinhan chief pushes to boost corporate value

Shinhan Financial Group is intensifying efforts to enhance its corporate value, with Chairman Jin Ok-dong leading initiatives both domestically and internationally. In November, Jin attended a joint investor relations event in Hong Kong, organized by South Korea's Financial Supervisory Service, following a similar event in New York in May. He presented Shinhan's corporate value enhancement plan, outlined strategies for strengthening South Korea's capital market, and discussed glob

IndustryNov. 27, 2024

[Global Finance Awards] Hana Bank supports SME workers with special savings account

Hana Financial Group recently hosted a ceremony with the Korean Ministry of SMEs and Startups to celebrate surpassing 10,000 holders of its savings accounts tailored for small and medium-sized enterprise workers. Late last month, Hana Bank launched a savings program in collaboration with the ministry to support the growth of SMEs by helping their employees build a nest egg and encouraging longer tenures with their companies. Employees who deposit at least 100,000 won ($71.6) per month can receiv

IndustryNov. 27, 2024

[Global Finance Awards] IBK boosts support for small businesses

Industrial Bank of Korea is intensifying its efforts to support small businesses struggling with the economic downturn and high interest rates. Last month, the state-run lender unveiled a comprehensive support plan, extending the interest rate reduction period for government-backed small business loans by a year with a 130 billion won ($93 million) investment. It will also allocate 28 billion won to dedicated loan funds and 14 billion won to preferential rates on savings and debt restructuring

IndustryNov. 27, 2024

[Global Finance Awards] JB Financial, buoyed by upbeat earnings, readies for big leap

JB Financial Group is seeking another big leap under Chairman Kim Ki-hong who has recently been reappointed for the third term for his leadership in elevating the group’s financial stability and profitability. In the third quarter of this year, its return on equity reached 14.7 percent, reflecting a 2.6 percentage-point increase on-year. The company highlighted this as the highest ROE ratio among domestic financial holding companies, surpassing the double-digit target often regarded as a b

IndustryNov. 27, 2024

[Photo News] Aged to perfection

(From left) Frantz Hotton, CEO and president of Pernod Ricard Korea, Sandy Hyslop; Ballantine’s master blender; and Miguel Pascual, marketing director of Pernod Ricard Korea, pose during the launching event of Ballantine’s 40 Year Old Masterclass Collection – The Waiting, the latest release from the iconic Scotch whisky brand, in Seoul on Wednesday. (Pernod Ricard Korea)

IndustryNov. 27, 2024