Most Popular
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Han Kang speaks up on Nobel Prize, thanks ‘enormous wave’ of blessing
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Han Kang declines press conference, not to celebrate, citing global wars
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Former Ador CEO gains ground in legal battle with Hybe, as whistleblower reveals plagiarism evidence
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Han Kang: From blacklist to Nobel laureate
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No South Korean military drone entered Pyongyang skies: JCS
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Aunt sentenced to 15 years for throwing 11-month-old nephew from high-rise apartment
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Novelist Han Seung-won says daughter's historic Nobel win feels surreal
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'Heavy Snow,' Han So-hee's big screen debut, examines stereotypes of beauty
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North Korean man crosses sea boundary to escape to South
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Early voting begins for Seoul education superintendent by-election with low turnout
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[Newsmaker] SK chairman to divorce, admits to affair
SK Group chairman Chey Tae-won has revealed that he “has a child with another woman” and plans to divorce his wife Roh Soh-yeong, personally putting an end to the speculations surrounding his shaky marriage.In a three-page letter to the daily Segye Ilbo, which was confirmed by SK Group on Tuesday, Chey said his marriage with Roh “had been falling apart over the past 10 years” despite “several efforts to restore the relationship.” SK Group chairman Chey Tae-won and his wife Roh Soh-yeong. Yonhap
Dec. 29, 2015
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Two KB Financial units get new CEOs
Two subsidiaries of KB Financial Group will get new CEOs while six others will see their incumbent chiefs’ tenures extended, the country’s second-largest financial group by assets said Tuesday. The new appointments are Yang Jong-hee, a former vice president of KB Financial who will take charge of KB Insurance, and Yoon Woong-won, another former KB Financial vice president who will lead KB Kookmin Card. The appointments are subject to final endorsements by shareholders of the respective companies
Dec. 29, 2015
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Young chaebol heiresses get starts at consulting firms
SK Group chairman Chey Tae-won’s daughter Chey Yun-jeong, AmorePacific Group chairman Suh Kyung-bae’s daughter Suh Min-jung and LF president & CEO Koo Bon-keul’s niece Koo Min-jeong have a striking similarity.The three women are all next-generation chaebol heiresses currently working as junior consultants at the Korean subsidiary of global consulting firm Bain & Company.They did not enter their family business after graduating, instead choosing to work at a consulting firm to gain experience and
Dec. 29, 2015
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BAT Korea appoints marketing director as new CEO
Erik StoelErik Stoel, marketing director of British American Tobacco Korea, has been appointed its new chief executive, the company announced Tuesday.Stoel will take office on Jan. 1, replacing the incumbent CEO Guy Meldrum who has been transferred as head of BAT Australasia. “Over the past three years, in his role as marketing director of BAT Korea, Mr. Stoel has made a substantial contribution to the company by strengthening the company’s flagship brand Dunhill to establish BAT Korea’s stronge
Dec. 29, 2015
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POSCO’s auto steel production evolves
Engineers at a plating unit check the quality of steel sheeting produced at POSCO’s Gwangyang plant in South Jeolla Province. POSCOFor lighter, stronger auto body frames, Korea’s top steelmaker POSCO has been producing advanced high-strength steel, the latest steel sheet production technology, with growing market demand.Advanced high-strength steel is one of the fastest-growing material markets in the automotive industry in and out of the country, as it offers enhanced formability and is lighter
Dec. 29, 2015
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Citibank opens high-tech wealth management center
Citibank Korea CEO Park Jin-hei operates the bank’s interactive touch screen kiosk. Citibank KoreaCitibank Korea has opened a wealth management center that features digital innovation and a wide array of services in downtown Seoul, the bank said Tuesday. The Citigold Banpo Center is equipped with intuitive touch screens and high-definition media walls to promote customer engagement with its products and services.The bank also expanded its asset management system by launching a new service called
Dec. 29, 2015
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Asiana Air gets nod for 2nd budget carrier
After months of hurdles, Asiana Airlines, the nation’s second-largest flag carrier, has won the government’s permission to operate its second low-cost carrier, moving forward to expand its market presence.The Ministry of Transport has issued a business license to Air Seoul, the second low-cost carrier launched by Asiana Airlines, the air carrier said Monday evening. The government said the license was issued in line with a steady growth in air traffic with an annual average of 7.8 percent. Air S
Dec. 29, 2015
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Soldier completes rehab after double amputation
Staff Sgt. Hah Jae-hun. YonhapAn Army staff sergeant who lost both legs in the North Korean landmine attack in early August was discharged from the hospital Tuesday after five months of treatment and rehabilitation that has enabled him to use prosthetic limbs.Twenty-one-year-old Staff Sgt. Hah Jae-hun was conducting a patrol mission on the South Korean side of the Demilitarized Zone when landmines buried by North Korea exploded and maimed him and another soldier on Aug. 4. The landmine attack, f
Dec. 29, 2015
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Political feud biggest obstacle to social cohesion: survey
Koreans pointed to political feuds as the biggest reason for deteriorating social conflicts in the country, a state-led survey showed Tuesday. According to the poll by the Presidential Committee for National Cohesion, 51.8 percent of the respondents said that the political wrangling between the ruling party and opposition bloc contributed most to worsening social confrontations. In the multiple-choice survey of 2,000 Koreans aged 19 and over, the wealth gap was chosen as the second-biggest facto
Dec. 29, 2015
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High-ranking officials to face tougher evaluations
Lee Geun-myeon, minister of personnel management.The work performance evaluation of high-ranking public servants will be tightened, possibly even leading to their dismissal, officials said Tuesday.The Ministry of Personnel Management said starting next year the evaluation criteria and penalties will be strengthened to raise the work efficiency of civil servants who had thus far enjoyed great job security.The move came after public pressure to enhance the “superficial” performance evaluation.Unde
Dec. 29, 2015
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Samsung mass-produces first all-in-one bioprocessor
Samsung’s all-in-one bioprocessorSamsung Electronics said Tuesday it has started mass-producing the world’s first all-in-one bioprocessor that collects and analyzes biological information such as heart rate and body fat in a single chip. In recent years, global device-makers have been piling into the soaring health care device market, but most of their fitness trackers have not gone much beyond heart rate or sleep quality monitors. With the unprecedented one chip solution, Samsung said it aims t
Dec. 29, 2015
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Debt is Korea’s biggest economic problem: FSC
Yim Jong-yongFinancial Services Commission Chairman Yim Jong-yong pinpointed household and corporate debt as the biggest potential problems for the Korean economy, calling for “fierce reforms” to guard against them. “The debt problem, (particularly) of households and corporates, is the biggest risk to our economy,” the chief financial regulator said in his year-end press meeting in central Seoul, Tuesday. Korea’s economy faces multiple challenges, including an uncertain global economic outlook,
Dec. 29, 2015
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After accord, Seoul begins work on fund for former sex slaves
Vice Foreign Minister Lim Sung-nam meets victims of Japan’s wartime sex slavery in Seoul on Tuesday. YonhapThe Seoul government on Tuesday set the ball rolling to execute Monday’s bilateral agreement with Tokyo to settle the issue of Japan’s wartime sexual slavery, despite escalating controversy over the ambiguity of the clauses and objections from the victims and civic groups.Seoul’s Foreign Ministry began its internal preparatory work for the establishment of a fund to support the Korean victi
Dec. 29, 2015
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Third Hanwha scion steps into limelight
Hangwha E&C manager Kim Dong-sun. YonhapKim Dong-sun, the third son of Hanwha Group chairman Kim Seung-youn, showed up at the media briefing Dec. 21 to showcase the Galleria Duty Free 63, the company’s duty-free store in Yeouido, southwest Seoul. Unlike the usual hierarchical introduction, Dong-sun came forward right after Hanwha Gelleria Time World CEO Hwang Yong-deuk, outranking four other vice presidents of the company. He also stood at the center when posing for photos at the opening of the
Dec. 29, 2015
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Kumho chairman’s passion: Nurturing classical music talent
Kumho Asiana Group chairman Park Sam-koo (third from right) and pianist Cho Seong-jin (third from left) pose in November in Japan. Cho, the winner of the 2015 International Chopin Competition, participated in Kumho Foundation’s training program. Kumho Asiana Cultural FoundationOn Christmas Eve at the Kumho Art Hall in central Seoul, an old man approached a little boy sitting at the back row of the front bloc during the intermission of the Kumho Soloists’ recital.“Why don’t you come and sit with
Dec. 29, 2015
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U.S., U.N. commend sex slavery settlement
A day after Seoul and Tokyo pulled off a compromise in their sex slavery row, the U.S., the U.N. and other actors in the international community churned out praise and support, displaying hopes for an end to the decades-old historical animosity. While acknowledging the need for Japan to follow through on its promises, they stressed the significance of what is supposed to be a “final and irreversible” closure of the dispute that has long plagued relations between the two neighbors and staunch U.S
Dec. 29, 2015
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Rushed sex slavery deal blasted
Despite a much-touted breakthrough with Japan on sex slavery, criticism is simmering over Seoul’s apparently rushed negotiations that led to its failure to consult beforehand with the victims, leaving room for potential diplomatic blunders and political backlash at home. Monday’s announcement came as a surprise to many because the bilateral director-general-level talks had made little headway during the 11 rounds since April 2014. Even early this month, diplomatic sources remained skeptical of t
Dec. 29, 2015
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Opposition party changes name
Striving to renew its image prior to the April general elections, the main opposition New Politics Alliance for Democracy revised its name to “Together Democratic Party” on Monday.With this, the party moved closer to its former and most recognized name “Democratic Party,” and also removed any trace of defected cochairman Ahn Cheol-soo, whose signature slogan is “new politics.”“The party decided that the title Together (‘deobuleo’ in Korean) Democratic Party, though not 100 percent in accord with
Dec. 29, 2015
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Underground economy still huge
Shortly after President Park Geun-hye took office in early 2013, her administration announced a plan to collect an additional 27.2 trillion won ($23.3 billion) in tax revenue over the next five years by shedding light on underground business activities. The envisioned tax revenue was part of a scheme for financing Park’s welfare programs without raising tax rates as she promised during her election campaign.In a parliamentary audit of the National Tax Service in September, taxation officials sai
Dec. 28, 2015