Most Popular
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Samsung under pressure after Intel's foundry spin-off: analysts
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Yoon leaves for Prague to cement nuclear energy push
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Heavy rain to fall nationwide over weekend, but warmer fall expected
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Seoul chastises predatory pricing claims over Czech nuclear export deal
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YouTuber under fire for consoling former singer accused of bullying
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NK newspaper 'unusually' silent on new missile tests: Seoul
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Samsung CEO introduces ‘bold growth’ as new target
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Bank of Korea eyes rate cut after US Fed's historic pivot
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3 suspects apprehended for selling celebrity deepfake porn: police
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Hyundai Motor officially becomes KT’s largest shareholder
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[Newsmaker] Nexon starts battle for control of NCSoft
A battle has begun for control of NCSoft, the nation’s second-biggest game developer, as Nexon, its largest shareholder, has officially vowed to participate in its management. Nexon, the largest online game firm in South Korea, said Tuesday that it would shift from merely investing in NCSoft, the runner-up in the domestic market, to taking part in its management.“The company made the decision since it has found it difficult to swiftly respond to the rapidly changing IT industry with the previous
TechnologyJan. 28, 2015
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[Newsmaker] Kim faces tough choice over overseas trips
North Korean leader Kim Jong-un is facing a tough diplomatic decision over when and where to make his international stage debut ahead of a series of foreign events this year, including Russia’s 70th anniversary celebration of the victory in World War II.The decision calls for Pyongyang’s careful calibration of strategic interests amid diplomatic estrangement from China, Russia’s engagement with the North, the U.S.’ harsh criticism of its cyberattacks and military threats, and an impasse in inter
North KoreaJan. 27, 2015
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[Newsmaker] Greek ‘Che Guevara’ on brink of power
ATHENS ― Alexis Tsipras, whose Syriza party won the Greek general election for the first time in its history on Sunday, is set to become the country’s first radical left-wing prime minister, and the youngest in over 150 years.He brings to the job a burning passion to dump the austerity policies that his party says have brought a “humanitarian crisis” to Greece.“Greece is turning a page, leaving behind disastrous austerity ... and 5 years of humiliation,” Tsipras told a jubilant crowd of supporte
World NewsJan. 26, 2015
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[Newsmaker] Saenuri bigwig gears up to become PM
Prime minister nominee Lee Wan-koo on Sunday kicked off preparations for his confirmation hearing at the parliament, after President Park Geun-hye nominated him to become her top deputy last week. Among the issues expected to be discussed at the hearing are allegations concerning Lee and his son’s military duty exemptions, a crime committed by his brother and questions about a piece of land Lee gave his son in 2011. Shortly after his nomination on Friday, local media accused his son of wrongful
PoliticsJan. 25, 2015
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[Newsmaker] Japan agonizes over ways to free IS hostages
TOKYO -- Lacking strong clout and diplomatic reach in the Middle East, Japan scrambled Thursday for ways to secure the release of two hostages held by the Islamic State group, as two people with contacts there offered to try to negotiate.The militants threatened in a video message to kill the hostages within 72 hours unless they receive $200 million. Based on the video's release time, that deadline would expire sometime Friday.Government spokesman Yoshihide Suga said Thursday that Japan was tryi
World NewsJan. 22, 2015
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[Newsmaker] Obama chooses income equality for next fight
WASHINGTON ― U.S. President Barack Obama can claim credit for bringing the economy back from the edge of catastrophe. But on Tuesday he turned his focus to a glaring failure of the recovery: While the wealthy are now wealthier than ever, the average American has not seen any rebound in his wages since the 2008 crisis.In his annual State of the Union address, Obama vowed to take on rising income equality, two months after frustrated voters dealt his Democratic Party a resounding defeat in Congres
World NewsJan. 21, 2015
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[Newsmaker] Hebdo, Iraq to dominate Davos agenda
PARIS ― The deadly Islamist attacks in France and conflicts in Iraq and Ukraine are set to dominate discussions at this week’s gathering of the world’s political and economic elite in the Swiss ski resort of Davos.French President Francois Hollande, Belgian Prime Minister Charles Michel and German Chancellor Angela Merkel will be among the 2,500 prominent figures attending the World Economic Forum’s annual meeting opening Tuesday, with all eyes on their countries’ battle to root out jihadists pl
World NewsJan. 20, 2015
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[Newsmaker] Is Lee coming to fore in Samsung empire?
When it was reported that Lee Jay-yong would host an annual meeting of top and new executives of Samsung affiliates, market analysts viewed it as a signal that he was coming to the fore on behalf of his sick father Lee Kun-hee.According to some news reports, the Samsung heir, currently vice chairman of the group’s flagship affiliate Samsung Electronics, has already received New Year management policies from top leaders of Samsung companies.Samsung heir Lee Jay-yong arrives at Hotel Shilla to att
IndustryJan. 19, 2015
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[Newsmaker] Almost half French oppose Mohammed cartoons
PARIS - Almost half of French oppose publication of cartoons depicting Islam's Prophet Mohammed, according to a poll Sunday, as global debate deepened on the limits of free speech in the wake of the Charlie Hebdo killings. The Ifop poll found 42 percent believe Mohammed cartoons seen as offensive by many Muslims should not be published. Fifty percent said they backed "limitations on free speech online and on social networks." However, 57 percent said opposition from Muslims should not prevent th
World NewsJan. 18, 2015
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[Newsmaker] Blue House, Saenuri on thin ice over scandal
Tension mounted between Cheong Wa Dae and the ruling Saenuri Party on Thursday over a remark made by a presidential staff member alleging that party chief Kim Moo-sung secretly set off a recent political scandal involving rival groups of aides to President Park Geun-hye.The presidential office said in the afternoon that it dismissed Eum Jong-hwan, a public relations officer, the day after he offered to resign to take responsibility for causing public concern. The move was seen as Cheong Wa Dae’s
PoliticsJan. 15, 2015
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[Newsmaker] Has Shin Dong-bin won Lotte succession race?
Lotte Group Korea chairman Shin Dong-bin has virtually become the crown prince of Lotte’s 92 trillion won ($90 billion) empire, which stretches from Asia to the U.S.But even with Lotte founder Shin Kyuk-ho’s temporary favor, his older brother’s presence will likely push the 59-year-old chairman to prove his management aptitude in order to impress his 93-year-old father, who is known to mix business affairs with succession plans.On Tuesday, chairman Shin met with Korean reporters at Gimpo Interna
IndustryJan. 14, 2015
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[Newsmaker] Hyundai Motor family share sale plan fails
Hyundai Motor chairman Chung Mong-koo and his son’s bid to sell some of their stakes in their business empire has failed. But this will not hinder the Chung family’s attempt to accelerate a father-to-son management transfer inside the world’s fifth-largest automaker, observers said. On Monday, Chung and his son Eui-sun, who is also the vice chairman of the nation’s top automaker, reportedly sent a notice to institutional investors that they plan to sell a combined 13.4 percent of the logistics f
IndustryJan. 13, 2015
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[Newsmaker] Labor abuse scandal rocks WeMakePrice
The past two weeks have been a rollercoaster ride for WeMakePrice, the country’s leading domestic deal-of-the-day online site. The country’s most-visited social commerce website operator was at the peak of its business earlier this year, eyeing the acquisition of a local competitor and labeling global retail juggernauts Alibaba and Amazon market competitors, but soon fell to the very bottom after facing a state crackdown for business malpractice. The Ministry of Employment and Labor on Monday sa
IndustryJan. 12, 2015
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[Newsmaker] Assembly to vote on anticorruption bill
The National Assembly is set to enact what will be the nation’s toughest-ever law against corruption, which has been held back by political bickering and vested interests for nearly four years. The so-called Kim Young-ran bill was passed by a parliamentary subcommittee last week and is expected to be put to a final vote at a plenary session next month. Under the new law, which will take effect in January 2016, public servants and their families will be punished when they receive 1 million won ($
PoliticsJan. 11, 2015
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[Newsmaker] Underdog challenges bigwigs in NPAD race
An underdog politician running in the main opposition’s chairmanship election next month could be the long-term solution for the party’s persistent factionalist problems even if he loses, analysts and party insiders said Thursday.Rep. Lee In-young of the New Politics Alliance for Democracy will challenge the favorites Reps. Moon Jae-in and Park Jie-won in the in-house chair election on Feb. 8. But Lee may play the role of spoiler as votes from the two-term lawmaker’s main political support base
PoliticsJan. 8, 2015
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[Newsmaker] Old guard competes for opposition helm
One of the two political heavyweights running in the main opposition party’s chairmanship election early next month will likely win, but neither are fit to resolve the party’s persistent infighting, a cause of the party’s recent decline, experts said.Reps. Moon Jae-in and Park Jie-won are strong contenders for the New Politics Alliance for Democracy’s chairmanship, to be determined through a vote by party officials on Feb. 8. The new leader will oversee the party in the 2016 general election and
PoliticsJan. 7, 2015
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[Newsmaker] Samsung bets big on IoT
LAS VEGAS ― Samsung Electronics, the world’s largest electronics firm, said that its entire range of products would be connected through the Internet of Things technology by 2020. “Samsung will have all TVs connected through the IoT by 2017, and all other products by 2020,” said Yoon Boo-keun, head of the company’s consumer electronics business unit, in his opening keynote speech for the International CES on Tuesday. “Samsung will unlock infinite possibilities of the IoT by developing technology
TechnologyJan. 6, 2015
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[Newsmaker] CES show a window into the ‘Internet of Me’
LAS VEGAS ― New technology is getting more personal. So personal, it is moving to connect and analyze our movements, our health, our brains and our everyday devices.Welcome to the so-called Internet of Me.One of the major themes at the International Consumer Electronics Show in Las Vegas is connecting thousands of objects that people use each day ― clothing, cars, light bulbs and home appliances.But the challenge facing developers is making that information useful, and the CES is increasingly se
World NewsJan. 5, 2015
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[Newsmaker] Price hike impacts Korean smoking habits
Caught between the nearly-doubled price of cigarettes and toughened smoking-related regulations, an increasing number of smokers are changing their smoking habits by cutting back or opting for electronic cigarettes.The Korean parliament in September agreed to raise retail prices of cigarette packs to 4,500 won ($4.07), up from 2,500 won. The measure was put into effect on New Year’s Day, and its impact was immediate and resounding.As of Sunday, corner stores across Korea have started selling ind
Social AffairsJan. 4, 2015
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[Newsmaker] ‘Nut rage’ spreads to family fiasco
A monthlong drama that started with a flight delay over a packet of macadamia nuts continued Wednesday, when an arrest warrant was issued for Cho Hyun-ah, a former Korean Air executive accused of violating aviation safety law and obstructing the flight crew in their duties.Cho, the eldest daughter of Korean Air chairman Cho Yang-ho, became the first female chaebol scion to be held in a detention center.But the “nut rage” scandal spread to other members of the Cho family, after prosecutors reveal
IndustryJan. 1, 2015