Post Tagged with: "Korea News"

Moon's special envoy says ASEAN leaders support Seoul's denuclearization policy

INCHEON, May 26 (Yonhap) — President Moon Jae-in’s special envoy to the 10-member Association of Southeast Asian Nations (ASEAN) said Friday that leaders of the regional bloc voiced support for South Korea’s policy for the North’s denuclearization. …

Parliament fails to adopt confirmation hearing report on PM nominee

The National Assembly failed Friday to adopt a report on the results of its confirmation hearing for Prime Minister-nomi …

“It’s not just the president. We’re team players” ; Blue House secretariat meetings changing under Pres. Moon

President Moon Jae-in: “Senior secretaries’ and aides’ meetings are settings for communicating, sharing, and making decisions.” Chief of Staff Im Jong-seok: “Can we express disagreements with the pre.. …

NPS to Boost Share of Stocks in Its Investment Portfolio

The National Pension Service plans to inject 50.7 trillion won more into stock markets in and outside Korea, including 20.2 trillion won for the domestic stock market. The Ministry of Health & Welfare held an NPS steering committee meeting on May 25 where it confirmed the fund operation plan for 2018 and the mid-term asset allocation plan until 2022. Under these plans, the ministry intends to drive the National Pension Service toward increasing the share of stocks in its investment… …

President Moon calls Indonesian counterpart

President Moon Jae-in has affirmed that during talks over phone with his Indonesian counterpart on May 25 both countries agreed to continue to expand cooperation. (Cheong Wa Dae) By Sohn JiAe …

Hyundai Unveils Its 1st Electric Bus

Hyundai on Thursday unveiled its first ell-electric bus, which will be launched next year.Korea’s biggest carmaker unveiled the punningly named Elec City in Goyang north of Seoul.Eight years in development, the bus uses a 256 kWh lithium-ion battery and can travel up to 290 km on a single charge.Hyu… …

Movie "The Day After" by Hong Sang-soo in Running for Top Award at Cannes

[Culture] : The halfway point has passed at the Cannes Film Festival and reviews about the competitive films are pouring in. South Korean director Hong Sang-soo’s movie “The Day After” is getting rave reviews and all eyes are on whether the film will win the coveted top award.[more…] …

(EDITORIAL from Korea JoongAng Daily on May 25)

Demanding unjust rewards Since the launch of the Moon Jae-in administration, the Blue House and ruling Democratic Party are wrestling with petitions from the belligerent Korean Teachers and Education Workers’ Union (Ktewu) and the Korean Confedera …

Goldman Sachs PEF Looks for Promising Investment Opportunities

Goldman Sachs PIA, a Goldman Sachs-affiliated private equity firm, which is pushing to raise a fund of 10 trillion won this year, is looking for new promising investment opportunities here in Korea. For more than 20 years, Goldman Sachs PIA has succeeded in exploring and investing in a string of promising businesses, including Kookmin Bank, cable operator C&M, food delivery app People of Delivery, and real estate app Jikbang. On May 24, Lee Jae-hyun, CEO of Goldman Sachs … …

Moon voices hopes for enhanced ties with Indonesia

South Korean President Moon Jae-in on Thursday expressed hopes for enhanced economic and diplomatic cooperation with Ind …

UN-affiliated group decries “arbitrary detention” of S. Korean labor leader

The Working Group on Arbitrary Detention (WGAD), which is affiliated with the Office of the UN High Commissioner for Human Rights (OHCHR), described the detention of Han Sang-gyun, president of the Ko.. …

Choi Soon-sil's Daughter Drops Fight Against Extradition

The daughter of ex-President Park Geun-hye’s crony Choi Soon-sil on Wednesday dropped an appeal against her extradition from Denmark. Danish prosecutors confirmed on Twitter that Chung Yoo-ra will be extradited to Korea within 30 days, though the date has not yet been set. After Danish prosecutors d… …

Envoys to US, China, Japan fill diplomatic vacuum: president

President Moon Jae-in (second from left) is briefed by his special envoys to the U.S., China and Japan on what they’ve achieved during their missions, at the Yeomingwan office at Cheong Wa Dae on May …

Constitutional Court upholds law restricting subsidies on mobile devices

SEOUL, May 25 (Yonhap) — The Constitutional Court on Thursday upheld a law that restricts subsidies on the purchase of smartphones and other mobile devices. The regulation, which sets the legal limit of subsidies at 330,000 won (US$295), was adop …

KOSPI Hits New High Thursday

[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) has again renewed an all-time high on …[more…] …

Korea Electric Power Corp. Set to Abolish Performance-based Pay Scheme

The labor union of Korea Electric Power Corp. is pushing to roll back the performance-based salary scheme for which it agreed with the management last year. This comes after Kim Jin-pyo, chairman of the special advisory committee for state affairs, said on May 23, “At the government level, we will review a plan to abolish the performance-based salary scheme.” If the nation’s largest state-run enterprise succeeds in repealing the scheme, it will likely affect other public sector unions as well. … …

Korea, Denmark in talks over repatriation of Choi's daughter

South Korea’s Justice Ministry said Thursday it has officially received notification from Denmark that the daughter of f …

S. Korea's Manufacturing 4 Years Behind in 4th Industrial Revolution

[Economy] : A state-run think tank says South Korea’s manufacturing industry is lagging about four years behind advanced nations in terms of preparations and responses to the Fourth Industrial Revolution.[more…] …

S. Korean delegation meets with Pope Francis, asks for support

VATICAN CITY, May 24 (Yonhap) — A South Korean delegation representing Seoul’s new administration on Wednesday met with Pope Francis in Vatican City and asked for support in achieving Korean peace. The delegation led by Archbishop Hyginus Kim Hee- …

Household Debt Hits Record High at 1,360 Tril. Won

Korea’s household debt balance rose by more than 17 trillion won in the first quarter of this year, reaching an all-time high at 1,360 trillion won. According to preliminary data released by the Bank of Korea on May 23, the nation’s household credit balance amounted to 1,359.7 trillion won. This figure is the highest since the central bank started compiling related statistics from the fourth quarter of 2002. The household credit balance includes not only loans from financial i… …