South Korea’s major conglomerates are bracing to navigate the economic and political shock waves unleashed by President Yoon Suk Yeol’s fleeting attempt at martial law last week, balancing containing the fallout and preparing for their business strategies for the coming year. The big four chaebol groups, including Samsung, SK, Hyundai Motor and LG, are set to hold strategy meetings later this month to finalize their plans for 2024. These meetings, typically held after annual leader

Companies Dec. 10, 2024

The main opposition Democratic Party of Korea on Saturday filed an impeachment motion against Minister of Interior and Safety Lee Sang-min, accusing him of involvement in President Yoon Suk Yeol's short-lived imposition of martial law this week. The liberal party said in a statement that it submitted the impeachment motion to the National Assembly at 10:30 a.m. The party plans to report the motion during Saturday’s plenary session, where the vote on President Yoon’s impeachment

Social Affairs Dec. 7, 2024

Obesity rates among women in their 20s and 30s in South Korea surged significantly last year, while risky drinking behaviors also climbed among women despite a drop among men, government data showed on Tuesday. The overall obesity rate in Korea was about 37.2 percent last year, according to a survey of approximately 10,000 people conducted by the Korea Disease Control and Prevention Agency. The agency's annual health examination survey revealed men had an obesity rate of 45.6 percent in 2

Social Affairs Dec. 4, 2024

Shares in companies linked to prominent South Korean political figures surged Wednesday, following the repeal of martial law and a renewed impeachment push against President Yoon Suk Yeol. The sharp rise in stocks seen as politically affiliated appears to be attributed to President Yoon's precarious position following his declaration and subsequent revocation of martial law. As Yoon's grip on power weakens, investors are increasingly betting on stocks linked to prominent presidential

Market Dec. 4, 2024

Elon Musk -- the Tesla CEO and joint head of US President Donald Trump's planned Department of Government Efficiency -- expressed shock over the news of South Korean President Yoon Suk Yeol declaration martial law, responding multiple times on social media X. On Tuesday night, Musk reacted to a post by an X user that said South Korean President Yoon declared martial law. Musk replied with a double exclamation mark “!!” Roughly three hours later, Musk commented “Wow”

Politics Dec. 4, 2024

The rise in transactions on secondhand market apps in South Korea, such as Karrot and Joonggonara, has led to a sharp increase in fraud cases, police data showed on Tuesday. According to data from the National Police Agency released by Rep. Yang-Bu-nam of the main opposition Democratic Party of Korea, 81,252 cases of secondhand transaction fraud were reported between January and October. With an average of 8,000 reported cases per month, the total is expected to approach 100,000 by year’s

Social Affairs Dec. 3, 2024

A KBS2 variety show was penalized by South Korea’s media regulator for comments mocking obese and bald men. The Korea Communications Standards Commission (KCSC) said Monday that it has imposed legal sanctions at a "caution" level to the show "Boss in the Mirror" for an episode that aired on July 2, after hearing statements from the program’s representatives. Under the KCSC's disciplinary actions, "caution" is the fourth highest of the seven-tier sys

Social Affairs Dec. 3, 2024

Spray-type bubble cleansers used by children during bath time have been found to pose fire and explosion risks due to their use of liquid petroleum gas as a propellant, according to a report released Friday. A joint investigation by the Korea Consumer Agency and the Korea Gas Safety Corp. revealed that all 40 bubble cleanser products for children tested were found to use LPG as a propellant. It didn’t disclose the names of the products. When used in enclosed spaces like bathrooms, the gas,

Social Affairs Nov. 29, 2024

The Global Youth Powerhouse Summit 2024 brought together leaders, innovators and young professionals in Hong Kong to tackle pressing global challenges and create new momentum for economic growth and innovation. Under the theme “Empowering professionals for a Global Initiative: A Voice from Hong Kong,” more than 200 participants attended in person at the Hong Kong Maritime Museum, along with 4,500 virtual attendees from over 30 countries. The inaugural summit, hosted by the Hong Kon

Industry Nov. 29, 2024

Eleven Chinese and Russian military aircraft entered South Korea’s air defense identification zone without notice Friday, prompting the South Korea’s Air Force to send its fighter jets to the scene. According to the Joint Chiefs of Staff, five Chinese military planes and six Russian aircraft entered the KADIZ over the East and South Seas between 9:35 a.m. and 1:53 p.m. and exited it. They did not violate the country's airspace. The JCS said it identified the Chinese and Russian

Defense Nov. 29, 2024

Heavy snow beset Seoul and the surrounding areas for a second consecutive day Thursday, with the total snowfall in the capital marking the third heaviest snowfall on record in the city. At 8 a.m., Seoul’s accumulated snowfall reached 28.6 centimeters at the capital's official measurement site in the Jongno-gu district. This was the most in November since records began in 1907. The heaviest snowfall ever recorded in Seoul was 31 cm on March 24, 1922, followed by 30 cm on Jan. 31, 1969. Unti

Social Affairs Nov. 28, 2024

More than 50 cars crashed into each other on an icy road in Wonju, Gangwon Province, injuring 11 people as record heavy snow hit the country on Wednesday. The crash occurred at 5:49 p.m. on National Route 409, between Manjong and Simpyeong intersections in Wonju, according to the Gangwon Fire Headquarters. The accident began when a Matiz compact car skidded to a stop on a downhill stretch of a highway. The vehicles that followed were unable to stop because the road was icy and collided in a ch

Social Affairs Nov. 27, 2024

A joint South Korean-Chinese fraud ring that swindled of 12.2 billion won ($8.73 million) from more than 80 victims in a romance scam has been caught, police said Tuesday. The Busan Metropolitan Police arrested 12 suspects, including a Korean leader in his 20s and a Chinese leader in his 30s, on charges including conspiracy to defraud. Eight additional suspects were charged without detention. According to police, the group recruited South Korean accomplices in their 20s and 30s and flew them to

Social Affairs Nov. 27, 2024

More than half of the participants at the matchmaking program organized by the Seoul city government were paired up, officials said Wednesday. Among the 100 unmarried men and women who participated in the event Saturday on Sebitseom, a floating island on the Han River, 27 couples emerged, achieving a 54 percent matching rate. Picked from a competitive pool with a 33-to-1 applicant success ratio, the 100 attendees took part in a variety of activities, including relationship coaching, yacht rides

Social Affairs Nov. 27, 2024

Prosecutors have requested seven-year prison sentences for a bar hostess and a former actress accused of extorting a total of 350 million won ($250,000) from the late actor Lee Sun-kyun. At a hearing on Monday at the Incheon District Court, prosecutors argued that the defendants -- a 30-year-old hostess surnamed Kim and a 29-year-old former actress surnamed Park -- committed the crime with malicious intent, exploiting Lee’s celebrity status. Kim was arrested and indicted in January for a

Social Affairs Nov. 26, 2024