[Newsmaker] Prosecutors request arrest warrant for Ulsan vice mayor over election-meddling allegations

Prosecutors here said Friday they have requested an arrest warrant for an Ulsan vice mayor suspected of illegally intervening in the 2018 mayoral election in the southeastern metropolitan city.The Seoul Central District Prosecutors Office said it asked the court Thursday evening to issue a pre-trial warrant to detain Song Byung-gi, Ulsan's vice mayor for economic affairs, on charges of conspiring with several presidential aides to influence the city's mayoral poll last year in violation of the P

Social AffairsDec. 27, 2019

Elephants in Thailand 'broken' for lucrative animal tourism

BAN TA KLANG (AFP) -- Separated from their mothers, jabbed with metal hooks, and sometimes deprived of food -- many Thai elephants are tamed by force before being sold to lucrative tourism sites increasingly advertised as "sanctuaries" to cruelty-conscious travellers.Balanced precariously on hind legs, two-year-old Ploy holds a ball in her trunk and flings it towards a hoop, one of many tricks she is learning in Ban Ta Klang, a traditional training village in the east.Here young elepha

World NewsDec. 27, 2019

Seoul stocks open lower, tech rally continues

South Korean shares opened lower Friday as investors cashed in recent profits ahead of the final trading session of 2019 slated for next week. But major tech stocks continued to build up gains.The benchmark Korea Composite Stock Price Index fell 13.41 points, or 0.61 percent, to 2,184.52 in the first 15 minutes of trading. In South Korea, investors should buy stocks one day before the last trading day of the year to receive dividends. The final trading session of 2019 is Monday.US stocks continu

MarketDec. 27, 2019

[Weekender] Top 10 International news

US-China trade dealOn Dec. 13, the US and China reached a partial deal to end their trade war.Both countries have agreed on the terms of a “phase one” trade deal, with expectations for China to boost imports of US agricultural goods while Washington eases massive tariffs on Chinese products. They are expected to sign a deal in early January.Trump impeachment bid On Dec. 18, the Democratic-led US House of Representatives approved two impeachment charges against Trump over his pre

World NewsDec. 27, 2019

[Weekender] A look back at 2019

As we approach the end of the year, it is time to look back at some of the major events and memorable moments of 2019. From trade wars between the US and China and then Korea and Japan, to the unrest in Hong Kong and rival rallies in Seoul over then-Justice Minister Cho Kuk, 2019 had plenty of conflict and discord to take note of. There were also memorable milestones achieved this year, such as the first-ever image of a black hole captured by scientists. Bong Joon-ho’s film “Parasite

Social AffairsDec. 27, 2019

New Sushiya bucks tradition

Rubbing shoulders with some of the most established, elite sushiya in Seoul, newcomer Sushi Sakau bucks tradition on many levels. In a neighborhood where an omakase lunch generally clocks in at over 70,000 won and dinner usually starts at 100,000 won, Sakau has whittled their prices down to 50,000 won for lunch and 88,000 won for dinner.  “It is just me, my wife and my friend,” owner-chef You Jong-tea, 32, said in explaining how keeping staff to a bare minimum and trekking out t

FoodDec. 27, 2019

Consumer sentiment slightly worsens in Dec.

South Korea's consumer sentiment slightly deteriorated from a month earlier in December but remained positive for a second consecutive month, central bank data showed Friday.The composite consumer sentiment index came to 100.4 in the month, compared with 100.9 in November, according to the data from the Bank of Korea.A reading above 100 means optimists outnumber pessimists. The index remained above 100 for a second-straight month after breaching the benchmark for the first time in the seven mont

EconomyDec. 27, 2019

BOK eyes accommodative monetary policy, more support measures in 2020

The Bank of Korea will maintain an accommodative monetary policy next year to help boost the country's economic growth and spur record-low inflation in Asia's fourth-largest economy, while also considering other means to assist the local economy, the central bank said Friday."Under the direction of its monetary policy in 2020, the Bank of Korea will maintain the easing stance of its monetary policy to support the recovery in growth and to ensure the rise in consumer prices will be stabilize

EconomyDec. 27, 2019

Suit over 2015 sex slavery deal settled in court arbitration

A lawsuit filed by several South Korean victims of Japan's wartime sexual slavery over a 2015 agreement between the two countries was settled Thursday in a court arbitration in which the government in Seoul agreed to deny the deal's validity and vowed continued efforts to help regain the victims' honor, legal sources said.Kang Il-chul and eight other surviving South Korean victims filed the suit against the government in August 2016 demanding 100 million won ($86,000) per person in compensation

Social AffairsDec. 27, 2019

Arrest warrant rejected for Cho Kuk in power abuse case

A Seoul court on Friday rejected an arrest warrant for former Justice Minister Cho Kuk in a probe into his suspected role in ending an inspection into bribery allegations involving a former Busan vice mayor.Earlier this week, prosecutors filed for an arrest warrant for Cho, former senior presidential secretary for civil affairs, on charges of abuse of authority in connection with the bribery case of now-arrested Yoo Jae-soo.After an hourslong hearing, Judge Kwon Deok-jin of the Seoul Eastern Dis

Social AffairsDec. 27, 2019

Hyundai’s mobility service venture Mocean Lab teams up with car rental association

Hyundai Motor Group said Thursday its affiliate Mocean Lab has joined hands with the country’s car rental business association to develop a mobility service ecosystem in the rental car market. The mobility service venture set up by the parent group of Hyundai Motor and Kia Motors has signed a memorandum of understanding with the Korea Rental Car Business Association for collaboration in the future mobility business. The association is the country’s largest group of car rent

MobilityDec. 26, 2019

NK may consider timing of nuclear talks amid uncertainty in US politics: source

North Korea has reasons to keep up nuclear talks with the United States, but it may consider their timing based on its assessment of the political fortunes of US President Donald Trump, who faces an impeachment trial, a source said Thursday. Though the Senate trial is expected to result in Trump's acquittal on charges of obstruction of congress and abuse of power, the North could wait until the political footing of the Trump administration becomes firmer, the source said on condition of anonymit

North KoreaDec. 26, 2019

[Graphic News] Demand for luxury cars increasing in S. Korea: data

　The demand for luxury cars in South Korea increased sharply in 2019 from a year prior, data showed, despite the overall decrease in sales of imported cars here.　Sales of imported luxury cars with price tags of 300 million won ($258,000) or higher reached 360 units over the January-November period, posting threefold growth on-year, according to data compiled by the Korea Automobile Importers & Distributors Association. (Yonhap)

IndustryDec. 26, 2019

KB Kookmin Bank to acquire Cambodian lender for $603.4m

South Korea’s commercial lender KB Kookmin Bank said Thursday its board has agreed to acquire a 70 percent stake in Cambodia’s lender Prasac Microfinance Institution for $603.4 million from Sri Lanka-based nonbanking lender LOLC Holdings.Prasac Microfinance is the No. 1 microfinance deposit-taking institution, taking up over 40 percent of market share in Cambodia with 177 branches.KB Kookmin will close the deal within three months, after a due diligence and approval from financial au

MarketDec. 26, 2019

NSC reviews Moon's China trip, vows push for closer ties with Beijing, Tokyo

South Korea's top national security officials agreed Thursday to step up efforts for closer relations between their country and two neighboring powers, China and Japan, as they reviewed the results of President Moon Jae-in's summit talks in China earlier this week.Moon made a two-day visit there for a string of summits with the leaders of China and Japan, including trilateral talks.On Monday, he held bilateral talks with President Xi Jinping in Beijing, where they agreed on the need for maintain

Foreign AffairsDec. 26, 2019

[Ferdinando Giugliano] Greece gets a dose of McKinsey management

Since the euro crisis earlier this decade, Greece has been the sick man of the monetary union.Athens has at times been in danger of crashing out of the single currency, despite three rescue programs and the restructuring of its sovereign debt. Last year the economy was still 24 percent smaller than it was in 2008. For a long time, it seemed that the best the eurozone could do was to keep propping up Greece to avoid an even bigger problem.Hence it’s remarkable that Greece’s new prime

ViewpointsDec. 26, 2019

[Box Office] Movies in theaters this week

Ashfall(Korea)Opened Dec. 19Drama, ActionDirected by Lee Hae-jun, Kim Byeong-seoPaektusan, the highest mountain on the Korean Peninsula and a dormant volcano, comes out of its slumber and undergoes the biggest eruption in recorded history. South Korean operative Capt. Jo In-chang (Ha Jung-woo) and North Korean spy Lee Jun-pyeong (Lee Byung-hun) are sent on a covert operation to save the peninsula.Cats(US)Opened Dec. 24Comedy, Drama, Family Directed by Tom HooperA tribe of cats called the Jellicl

FilmDec. 26, 2019

[Around the Hotels] Promotions and Packages

Winter Berry Afternoon Tea Set at Grand Hyatt Grand Hyatt Seoul Hotel’s lounge cafe Gallery will launch the Winter Berry Afternoon Tea Set starting Jan. 1, featuring fresh strawberries and canapes. Served in a three-layered dessert tray, the set will include fresh-baked wild berry scones, homemade strawberry jams, winter berry tarts and more. A buffet station, as well as a ruby chocolate fountain, will be offered as well. The tea set will be offered from Jan. 1 to Jan. 31, and the price is

FoodDec. 26, 2019

No spat at upcoming CES 2020?

While the market was anticipating another face-off between Samsung Electronics and LG Electronics at the upcoming Consumer Electronics Show 2020, it now seems highly unlikely.According to industry sources, the Consumer Technology Association, which organizes the world’s largest annual tech event in Las Vegas, has specific terms in the exhibit space contract that prevent companies from giving presentations on products of rival firms, as well as from displaying offensive and inappropriate co

TechnologyDec. 26, 2019