Archive for May, 2018

Korea's Car Industry Is Doomed Without Labor Reform

GM Korea closes its assembly plant in Gunsan on Thursday. Built in 1997, it was the last car factory to be built in Korea, employing over 2,000 workers at one point and another 10,000 at subcontractors. Gunsan now faces a massive population drain. Over the last three years, the plant had been operat… …

Former unification minister suggests swapping CVID and CVIG in six months

“Swapping North Korean denuclearization and the key elements of a security guarantee for the Pyongyang regime within six months is the only practical way to resolve the concerns and satisfy the expect.. …

Beijing Emphasizes Its Role as Signatory of Armistice

[International] : Chinese Foreign Ministry Spokeswoman Hua Chunying said Thursday her country will continue to play its due role in a Korean Peninsula peace process since it's a signatory of the 1953 Korean War Armistice. Hua said China supports replacing that armistice with a permanent peace. She was responding to …[more…] …

Pompeo says confident U.S., N. Korea moving in right direction

NEW YORK, May 31 (Yonhap) — U.S. Secretary of State Mike Pompeo said Thursday that recent talks with North Korea produced “real progress” toward a fruitful summit between their leaders. Pompeo held two days of meetings with a senior North Korean o …

Deadly Tick-borne Virus Causes Seven Deaths

[Domestic] : Public health authorities are warning against a rising number of cases involving a deadly tick-borne virus. The Korea Centers for Disease Control and Prevention said on Thursday 18 cases of severe fever thrombocytopenia(SFTS) have been reported as of May 25, resulting in seven deaths. Last year, only 13 …[more…] …

Tourists Fascinated by Korean Freeway Rest Stops

Foreign tourists are much less taken by what remains of Korea’s heritage than by rest stops along its expressways, a study suggests. Cosmojin Tour asked 1,050 foreign visitors what they found unique in Korea, and 54 percent pointed to these unexpected places.In addition to serving as toilet breaks o… …

EXO, Red Velvet to rock Busan's annual K-pop festival in October

BUSAN, May 31 (Yonhap) — K-pop boy band EXO and female quintet Red Velvet will rock Busan’s annual K-pop festival to be held in October, its organizer said Thursday. The two highly popular bands will be part of the lineup for the Busan One Asia Fe …

Head Lice Make a Comeback in Korean Schools

Head lice are back in Korean schools after being thought a relic of the unhygienic struggle of the 1960 and 70s. Counterintuitively, they are more rampant in the upscale districts of Gangnam and Mok-dong, which are home to a lot of crammers, as many children fall asleep without properly drying their… …

Samsung Electronics announces plans to increase flexibility of working hours

Samsung Electronics announced plans on May 29 for the introduction of systems including discretionary work and flexible working hours ahead of the introduction of the 52-hour working week, which looms.. …

OECD: S. Korean Economy to Grow 3% in 2018, 2019

[Economy] : The Organization for Economic Cooperation and Development(OECD) has predicted South Korea will maintain an annual growth in the three-percent range.  In an economic outlook report released on Wednesday, the OECD said the country’s economy will grow three percent for both this year and next year. They are …[more…] …

Prosecution seeks arrest warrant for chief of KEB Hana Bank

SEOUL, May 30 (Yonhap) — The prosecution has filed for an arrest warrant for KEB Hana Bank chief Ham Young-joo over job-related irregularities, prosecution officials said Wednesday. The request for a warrant came nearly two months after the financ …

National Assembly passes amendment adding bonuses and benefits to Minimum Wage Act

An amendment to the Minimum Wage Act including regular bonuses paid more than once a month and benefits such as food, transportation, and lodging expenses into the scope of the minimum wage was passed.. …

White House: Pompeo to Meet Top N. Korean Official in New York

[International] : The White House says that U.S. Secretary of State Mike Pompeo will meet with a senior North Korean official in New York this week ahead of a potential summit between their leaders.   White House Press Secretary Sarah Sanders on Tuesday said in a statement that Pompeo and Kim Yong-chol, the vice chairman …[more…] …

U.S. Warns Again on Hacks It Blames on N.Korea

The U.S. government on Tuesday released an alert with technical details about a series of cyberattacks it blamed on the North Korean government that stretch back to at least 2009.The warning is the latest from the Department of Homeland Security and the Federal Bureau of Investigation about hacks th… …

(3rd LD) Pompeo, N. Korean official to meet in New York: White House

(ATTN: UPDATES with Pompeo’s schedule, background) WASHINGTON, May 29 (Yonhap) — U.S. Secretary of State Mike Pompeo will meet with a senior North Korean official in New York this week, the White House said Tuesday, as the two sides ramp up preparati …

End of war to follow close discussions: foreign ministry

Foreign Ministry spokesperson Noh Kyu-duk delivers a regular briefing at the Ministry of Foreign Affairs on May 24. (Yonhap News) By Kim Young Shin The Ministry of Foreign Affairs said on …

Korea's Paris Baguette to Build Bread Factory in France

The Paris Baguette bakery chain will break ground on a bread factory in Brittany, northwest France in the second half of this year, operator SPC Group said on Monday. “It will be our first bread factory in France,” said a spokesman. The factory, which will produce “dormant” or ready-to-bake frozen d… …

KOSPI Closes down 0.88% on Tuesday

[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) slipped 21-point-71 points, or point-88 percent on Tuesday, closing the day at two-thousand-457-point-25.    The tech-heavy KOSDAQ also fell, losing nine-point-61 points, or one-point-09 percent, to close the day at 870-point-08.  On the foreign …[more…] …

(2nd LD) S. Korea informs N.K. of its delegation list for high-level talks

(ATTN: ADDS more info in para 4) SEOUL, May 29 (Yonhap) — South Korea on Tuesday sent to North Korea the list of its delegates for this week’s high-level talks, Seoul’s unification ministry said. Unification Minister Cho Myoung-gyon will lead the …

Moon Needs to Stay Wary of N.Korea

It looked like a veritable love-in when President Moon Jae-in held his second summit with North Korean leader Kim Jong-un on Saturday, which Moon described as being “an ordinary event between friends.” In reality, Kim called Moon for help, alarmed by Trump’s abrupt cancellation of their planned summ… …