Japan’s decision to suspend talks on a currency swap last Friday will have limited impact while caution is still advised, according to economists and experts. Song In-chang, deputy finance minister, played down a possible repercussion of the suspension of the bilateral currency swap deal, saying that “It wouldn’t have much impact as it is not like an existing program ended.”
Category: Seoul, South Korea
Tesla’s official launch in Seoul immine…
Tesla Motors has reaffirmed its planned launch in Seoul, stressing that the recent case of a South Korean celebrity claiming serious defects in its car would not affect its plans, an industry source told The Korea Herald. An official closely related to the US electric vehicle maker said the launch is “imminent” and will be carried out within the beginning of the year.
‘Comfort woman’ statue a blow to Japan-South Korea ties
An illegal act, which would undermine relations with Japan, has been pushed through in South Korea in the midst of that country’s political turmoil. This is a grave situation.
S. Korean critical after self-immolating over sex slave deal
A South Korean Buddhist monk is in critical condition after setting himself on fire to protest the country’s settlement with Japan on compensation for wartime sex slaves, officials said Sunday. The 64-year-old monk suffered third-degree burns across his body and serious damage to vital organs.
The Latest at CES: What should brands do with shopping data?
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SKorean president refuses to testify in impeachment trial
A lawyer for South Korean President Park Geun-hye prays before the first hearing arguments for Park’s impeachment trial at the Constitutional Court in Seoul, South Korea, Tuesday, Jan 3, 2017. less A lawyer for South Korean President Park Geun-hye prays before the first hearing arguments for Park’s impeachment trial at the Constitutional Court in Seoul, South Korea, Tuesday, Jan 3, 2017.
Stocks start 2017 with gains, but many markets stay shut
The Korea Composite Stock Price Index opened at … . South Korean Chairman of the Financial Services Commission Yim Jong-yong, third from left, applauds with other participants during the opening of the 2017 trading year at the Korea Exchange in Seoul, South Korea, Monday, Jan. 2,… .
Impeached S. Korean leader rejects accusations against her
SEOUL, South Korea – Impeached South Korean President Park Geun-hye vehemently rejected accusations Sunday that she conspired with a longtime friend to extort money and favors from companies, accusing her opponents of framing her.
South Korea’s Park rejects wrongdoing in scandal, says she was…
South Korean President Park Geun-hye speaks during a meeting with reporters at the Presidential Blue House in Seoul, South Korea, in this handout picture provided by the Presidential Blue House and released by Yonhap on January 1, 2017. Blue House/Yonhap via South Korean President Park Geun-hye listens to a reporters’ question during a meeting with reporters at the Presidential Blue House in Seoul, South Korea, in this handout picture provided by the Presidential Blue House and released by Yonhap on January 1, 2017.
S. Koreans demand president’s removal on New Year’s Eve
Even on New Year’s Eve, large crowds of South Koreans were expected to join another rally demanding the ouster of impeached President Park Geun-hye, who’s determined to restore her powers through a court trial. Hundreds of thousands were expected to participate in the evening marches near Seoul’s presidential palace and the Constitutional Court.
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The 29th London Art Fair , the UK’s premier Fair for Modern British and contemporary art, will be the most international edition to date when it returns to the Business Design Centre, Islington, from 18-22 January 2017. The Fair is renowned for providing a supportive environment for collectors of all levels, enhanced by an engaging programme of curated exhibitions, talks, tours, films and performances.
Iconic comedian Yoo Jae-suk wins top award, again
Comedian and TV host Yoo Jae-suk nabbed his 13th big accolade at the MBC Entertainment Awards on Thursday evening, further cementing his position as an icon of Korean onscreen entertainment. “The more prizes I receive, the more apologetic I feel,” Yoo, a 25-year comedy veteran, said in his acceptance speech upon receiving the Grand Prize at the awards ceremony held at the MBC Media Center in Sangam-dong, Seoul.
Death threats to exiled men
Death threats to exiled men. December. 29, 2016 07:10. pisong@donga.com. While Leon Trotsky was in exile in Mexico, he did not stop denouncing Stalin.
Endless fight until official apology from Japan
Endless fight until official apology from Japan. December. 29, 2016 07:10. by Ho-Kyeong Kim kimhk@donga.com.
Korean manned robot takes first baby steps
A giant South Korean-built manned robot that walks like a human but makes the ground shake under its weight has taken its first baby steps. Designed by a veteran of science fiction blockbusters, the four-metre-tall , 1.5 ton Method-2 towers over a room on the outskirts of Seoul.
South Korean scandal escalates: Choi, former presidential aides…
Our eNewspaper network was founded in 2002 to provide stand-alone digital news sites tailored for the most searched-for locations for news. With a traditional newspaper format, more than 100 sites were established each with a newspaper-type name to cover the highest-ranked regions, countries, cities and states.
Seoul to confiscate passport from daughter of key figure in residential scandal
South Korea’s foreign ministry said Thursday it will soon initiate the process of confiscating the passport of the daughter of Choi Soon-si, the long-time friend of President Park Geun-hye, who faces charges for meddling in state affairs. “The Ministry of Foreign Affairs plans to swiftly issue an order for the return of Chung Yoo-ra’s passport, and if it is not returned before a deadline, it will take steps to annul it,” ministry spokesman Cho June-hyuck said in a press briefing.
E-Land, SPC under fire for alleged labor…
A union of part-time workers and labor activists called Thursday for the arrest of the CEO of E-Land Park and a crackdown on alleged unfair labor practices. Eight groups including the Arbeit Workers Union and the Korean Confederation of Trade Unions held a press conference in front of the E-Land Park headquarters in Geumcheon-gu, Seoul, to demand that the company’s food business CEO, Park Hyeong-sik, be taken into custody for breaking labor laws.
Central bank chief urges Seoul to use st…
South Korea’s central bank chief publicly urged the Finance Ministry to use more aggressive expansionary fiscal policy next year to sustain growth, saying the era of monetary policy has nearly ended. His comments could lead to the Bank of Korea and the Finance Ministry each pushing the other to take on the burden of propping up the flagging Korean economy.
Seoul investigators seek to detain daughter of Park’s friend
Investigators looking into an explosive corruption scandal surrounding impeached South Korean President Park Geun-hye are seeking to detain the daughter of Park’s longtime confidante who faces criminal charges for allegedly extorting companies and manipulating state affairs. A German prosecution official on Thursday told South Korean media that Germany will cooperate with South Korean investigators in their search for Yoora Chung, the daughter of Park’s jailed friend Choi Soon-sil, who is believed to be staying in Germany.
Old papers shed new light on South Korea deal with Lockheed Martin
Letters to former North Korean leader Kim Jong Il from South Korean President Park Geun -hye are shedding light on how Park navigated inter-Korea relations during her years as a lawmaker. The letters and draft documents, obtained by South Korean magazine Weekly Kyunghyang in March and October, are being considered again from a different perspective in the wake of the political scandal that has culminated in Park’s impeachment and the trial of her influential friend Choi Soon-sil.
Old papers shed new light on South Korea deal with Lockheed Martin
Letters to former North Korean leader Kim Jong Il from South Korean President Park Geun -hye are shedding light on how Park navigated inter-Korea relations during her years as a lawmaker. The letters and draft documents, obtained by South Korean magazine Weekly Kyunghyang in March and October, are being considered again from a different perspective in the wake of the political scandal that has culminated in Park’s impeachment and the trial of her influential friend Choi Soon-sil.
BRIEF-Skanska sells office building in Budapest for 67 mln euro
SEOUL, Dec 21 Daily net trading in shares on South Korea’s main stock exchange by three major categories of investors as of 0720 GMT, in billions of South Korean won : FOREIGNERS INSTITUTIONS RETAIL December 21 *78.1 -69.4 -7.7 ^December 20 60.6 -29.1 -33.5 December 19 5.0 -79.5 78.8 December 16
VW agrees new U.S. settlement, Actelion still in focus. For more see…
SEOUL, Dec 21 Daily net trading in shares on South Korea’s main stock exchange by three major categories of investors as of 0720 GMT, in billions of South Korean won : FOREIGNERS INSTITUTIONS RETAIL December 21 *78.1 -69.4 -7.7 ^December 20 60.6 -29.1 -33.5 December 19 5.0 -79.5 78.8 December 16 * Said on Tuesday had acquired a commercial property portfolio, the transition of benefits and burdens is planned for the second quarter of 2017
BRIEF-SocGen selling Splitska Banka to OTP Bank, deal to boost its capital ratios
Source text for Eikon: Further company coverage: MUMBAI, Dec 21 Tata Sons’ ousted chairman Cyrus Mistry, in his first legal salvo against the conglomerate, has appealed to a quasi-judicial body to either replace the company’s current board of directors or appoint a retired Supreme Court judge as its non-executive chairman.
BRIEF-John Laing Infrastructure buys stake in Intercity Express Programme
Source text for Eikon: Further company coverage: MUMBAI, Dec 21 Tata Sons’ ousted chairman Cyrus Mistry, in his first legal salvo against the conglomerate, has appealed to a quasi-judicial body to either replace the company’s current board of directors or appoint a retired Supreme Court judge as its non-executive chairman.
BRIEF-OTP signs deal to buy Societe Generale’s Croatian unit Splitska Banka
SEOUL, Dec 21 Daily net trading in shares on South Korea’s main stock exchange by three major categories of investors as of 0720 GMT, in billions of South Korean won : FOREIGNERS INSTITUTIONS RETAIL December 21 *78.1 -69.4 -7.7 ^December 20 60.6 -29.1 -33.5 December 19 5.0 -79.5 78.8 December 16
BRIEF-Telford Homes announces Redclyffe Road property sale
SEOUL, Dec 21 Daily net trading in shares on South Korea’s main stock exchange by three major categories of investors as of 0720 GMT, in billions of South Korean won : FOREIGNERS INSTITUTIONS RETAIL December 21 *78.1 -69.4 -7.7 ^December 20 60.6 -29.1 -33.5 December 19 5.0 -79.5 78.8 December 16
At least one China state lender provided liquidity to fund houses on Wed – sources
Dec 21 At least one Chinese state lender provided liquidity support worth over several billion yuan to fund management firms via bond repurchase agreements on Wednesday, two sources with knowledge of the matter told Reuters. The move is an indication that it was getting easier for non-financial institutions to obtain liquidity in the market.
South Korean court to hold first impeachment hearing on Thursday
South Korean President Park Geun-hye speaks during an emergency cabinet meeting at the Presidential Blue House in Seoul, South Korea, December 9, 2016. Yonhap/ via South Korea’s Constitutional Court will hold its first hearing in the impeachment case of President Park Geun-hye on Thursday with initial opinions from both sides, an official said on Tuesday.
Friend of South Korea’s Park denies charges on first day of trial
Choi Soon-sil, a long-time friend of South Korean President Park Geun-hye who is at the center of the South Korean political scandal involving Park, arrives for her first court hearing in Seoul, South Korea, December 19, 2016. Korea Pool/via Choi Soon-sil , a long-time friend of South Korean President Park Geun-hye who is at the center of the South Korean political scandal involving Park, arrives for her first court hearing in Seoul, South Korea, December 19, 2016.
Russian military plane crashes in Siberia, 23 hospitalized: agencies
The Russian Defence Ministry said on Monday that one of its planes had crashed in northeast Siberia, but that nobody had been killed in the accident, Russian news agencies reported. The Defence Ministry Ilyushin Il-18 aircraft made an emergency landing 30 kilometers from an airfield near the town of Tiksi in the Sakha Republic at 4:45 a.m. local time, the TASS news agency reported.
S. Korea begins trial of confidante of disgraced president
Choi Soon-sil, the jailed confidante of disgraced South Korean President Park Geun-hye, center, appears for the first day of her trial at the Seoul Central District Court in Seoul, South Korea, Monday, Dec. 19, 2016. less Choi Soon-sil, the jailed confidante of disgraced South Korean President Park Geun-hye, center, appears for the first day of her trial at the Seoul Central District Court in Seoul, South Korea, Monday, Dec. 19, … more Choi Soon-sil, the jailed confidante of disgraced South Korean President Park Geun-hye, center, appears for the first day of her trial at the Seoul Central District Court in Seoul, South Korea, Monday, Dec. 19, 2016.
S. Korea to begin trial of impeached president’s confidante
The jailed confida… . FILE – In this Oct. 31, 2016 file photo, Choi Soon-sil, wearing a black cap at center, a longtime friend of South Korean President Park Geun-hye, is questioned by media upon her arrival at the Seoul Central District Prosec… .
South Korea Leader’s Supporters, Opponents Clash in Seoul Rallies
Supporters of South Korean President Park Geun-hye attend a protest opposing her impeachment near the constitutional court in Seoul, South Korea, Dec. 17, 2016. Tensions were high as supporters of impeached South Korean President Park Geun-hye and opponents of Park, who had gathered in much larger numbers, rallied in Seoul on Saturday.
Supporters, opponents of embattled Park stage big rallies in Seoul
Supporters of South Korean President Pak Geun-hye rallied on Saturday for her reinstatement while opponents gathered to repeat their demands that the leader impeached over a corruption scandal step down immediately. A banner bearing images of South Korean President Park Geun-hye and her father, the late South Korean former military dictator Park Chung-hee, is seen as they attend a protest opposing her impeachment near the constitutional court in Seoul A woman cries while praying for the South Korean President Park Geun-hye’s impeachment to be accepted, in front of the constitutional court in Seoul, South Korea, December 17, 2016.