Suspicions grow over ultraconservative rallies

Amid snowballing suspicions over the government’s alleged involvement in pro-government rallies by a right-wing organization, President Park Geun-hye on Tuesday loosely denied her office’s ties with the group. “I was briefed that it was not true that (a Cheong Wa Dae official was behind the right-wing group’s rallies),” she said in a meeting with editors in chief held at the presidential office.Questions have been thrown around in recent days upon news reports that Cheong Wa Dae and a business l

Social AffairsApril 26, 2016

May 6 may be designated as holiday

The government is considering granting an extra day off on May 6, a day after the national holiday Children’s Day, designating it as a temporary holiday in hopes of boosting consumer spending.　The plan will be discussed at Thursday’s Cabinet meeting and is “most likely” to be endorsed, said officials from Cheong Wa Dae and relevant ministries. If the motion is passed, public workers will have a four-day holiday weekend, running until May 8. Employees from private companies, however, are able to

PoliticsApril 26, 2016

Park to meet with party leaders

President Park Geun-hye said Tuesday that she will meet with the chiefs of leading political parties as soon as possible and positively consider making such meetings regular, gesturing toward more dialogue with the incoming opposition-dominated National Assembly.While vowing to communicate closely with the opposition camp for the sake of economic revitalization, Park also reiterated her regret over the legislative underachievement of the outgoing parliament, largely holding the opposition respon

PoliticsApril 26, 2016

[Market Now] KAI’s operating profit surges 44 percent

The nation’s lone aircraft-maker Korea Aerospace Industries said its operating profit surged 43.8 percent year-on-year to 81.2 billion won ($70.5 million) in the first quarter of 2016.In a public filing, the company said its revenue rose 14.4 percent to mark 710.5 billion won and net profit jumped 72.7 percent year-on-year in the same period. Manufacturing line at KAI (Yonhap)KAI’s shares rose 0.73 percent to close at 69,200 won Tuesday.Meanwhile, the state-run Korea Development Bank, the larges

April 26, 2016

Incheon Int‘l Airport tops out second terminal

Incheon International Airport held a topping-out ceremony on Tuesday for its second terminal, set to open next year, the airport announced.A topping-out ceremony commemorates the completion of the framework of a new building by fitting the last piece of the structure on top. The last piece of the framework structure at Incheon International Airport’s second terminal is hoisted to the top on Tuesday. (Incheon International Airport)The terminal, however, will not be open to the public until the en

IndustryApril 26, 2016

[Newsmaker] Former Hanjin Shipping chief faces FSC probe for dubious trading

Hanjin Shipping’s former chairwoman Choi Eun-yeong has come under scrutiny by financial authorities over suspicions that she might have used insider information to sell her shares in the troubled firm. According to sources Tuesday, the former chief and her two daughters sold their 970,000 company shares -- 0.39 percent of the total shares -- worth 3 billion won ($2.6 million) three days before the company’s board of directors decided to file for creditor-led rehabilitation on Friday. Hanjin Ship

IndustryApril 26, 2016

Park mulls quantitative easing program to revive economy

President Park Geun-hye said Tuesday that she will positively consider a Korean version of quantitative easing, reviving expectations for drastic new measures to revive the economy. "My stance is that the idea deserves positive consideration,” Park said during a meeting with managing editors from the nation’s major news organizations at Cheong Wa Dae. “I will try to push for it, if deemed required.” President Park Geun-hye (Yonhap)The comments came as the Asia’s fourth-largest economy is estimat

April 26, 2016

Osaka favorite holiday destination for Koreans: Expedia

Japan’s Osaka was selected as the most popular holiday destination for Koreans in the first quarter of 2016, according to international online travel agency, Expedia, Tuesday.Expedia analyzed its flight reservation records to narrow down the 10 cities most frequently visited by Koreans from January to March 2016.  (123RF)Although it did not disclose the total number of reservations, the agency said Osaka had the highest rate of flight bookings at 17.5 percent, an increase of 37.5 percent from th

IndustryApril 26, 2016

LG Household & Health Care posts record-high sales in Q1

LG Household & Health Care, the cosmetic arm of LG Group, posted 1.5 trillion won ($1.3 billion) in first-quarter sales, a 16.7 percent increase from the same period last year, the company said in a statement Tuesday.The nation’s second-largest producer of beauty products reaped 234 billion won in operating profit, a 30.9 percent increase on-year. LG brand The Faceshop cosmeticsIts three business units -- cosmetics, household goods and beverages -- saw double digit growth from last year.Among th

IndustryApril 26, 2016

Lights celebrate Buddha’s birthday

The annual Yeondeunghoe, the lotus lantern festival, is set to light up Seoul streets to celebrate Buddha’s birthday falling on May 14 this year.　The festival, designated Korea’s Important Intangible Cultural Property No. 122, will take place at Jogyesa and Bongeunsa temples and along Jongno Street on May 6-8. 　The origin of the three-day festival dates back to the Unified Silla era over 1,300 years ago, when the festival was held on Daeboreum, a day celebrating the first full moon of the lunar

CultureApril 26, 2016

Calligrapher depicts energy of universe

Calligrapher Sakong Hong-joo is holding a solo exhibition from April 27 to May 3 at Namsan Gallery in Seoul.　His 14th solo exhibition presents 23 ink-and-wash paintings with bold calligraphic strokes through which the artist attempts to portray the “good energy” in the universe. In order to visualize the energy, the artist depicted 64 hexagrams from “I Ching,” or the ancient Chinese “Book of Change.”   “Ji Cheon Tae,” symbolizing harmony in family and work, by Sakong Hong-joo (Courtesy of the ar

PerformanceApril 26, 2016

Fascinating cultural experiences await at the center of Gangnam

The creative culture festival “C-Festival 2016” will be taking place at the Convention and Exhibition Center in Samseong-dong from May 4-8.　The annual festival, jointly launched by Coex and the World Trade Center Seoul in 2015, will present events and programs featuring K-pop, art, culture, and technology. It will also feature programs that cater to specific needs such as family time, romance, exhibitions and conventions and healing. More details can be viewed on its website www.c-festival.com.

CultureApril 26, 2016

Creditors want Hanjin Shipping to bear more pain

Debt-ridden container carrier Hanjin Shipping plans to raise a total of 411.2 billion won ($357 million) through asset sales, but its main creditor Korea Development Bank says that is not enough for it to win an aid package. KDB demanded that Hanjin, part of the eponymous group which controls Korean Air, supplement its application for debt restructuring, filed Monday to the state-run bank, with an additional and more detailed plan of self-rescue. “Once the new self-help plan is submitted, we wil

IndustryApril 26, 2016

AOA meets Japanese fans

Following the release of its Japanese single “Give Me the Love” on April 20, K-pop girl group AOA has been holding events to promote the new song.　The group visited Tokyo, Nagoya and Osaka from April 21-24, attracting thousands of Japanese fans. The promotion included a mini live concert and events that allowed fans to get close to AOA. The group also performed its other hits “Heart Attack” and “Oh Boy,” along with “Give Me the Love.” K-pop girl group AOA poses at an event promoting their new Ja

PerformanceApril 26, 2016

SM’s EDM label to drop first track

ScreaM Records, entertainment giant SM Entertainment’s electronic dance music label, will release its first song “Wave” at midnight on May 5.　The label, one of the agency’s new projects announced at the presentation show “SMTOWN: New Culture Technology, 2016,” was launched to expand the K-pop experience from just appreciating music to actively participating, said the agency. 　It aims to present quality music by collaborating with world-famous EDM DJs and producers, as well as with various artist

PerformanceApril 26, 2016

CJ CheilJedang to launch ‘Cupban’ in Hong Kong, Japan

South Korean food company CJ CheilJedang on Tuesday said it will introduce its Cupban — instant rice accompanied by Korean soups — to Japan and Hong Kong starting next month. 　Stating from early May, CJ will introduce Cupban -- spun off from its flagship instant rice line Hetban -- at some 600 7-Eleven convenience stores in Hong Kong and up 200 Natural Lawson convenience stores and supermarkets in Japan. CJ’s Cupban, set to be launched in Japan (CJ CheilJedang)“Cupban is going to be the next big

IndustryApril 26, 2016

7-11 launches ginseng kimbap

A ginseng variety of samgak kimbap was launched at 7-eleven convenience stores in Korea on Tuesday, in collaboration with Korea Ginseng Corporation. Samgak, or triangle, kimbap have long been a convenience store staple. Rice is formed into a triangle about the size of a baby‘s fist and wrapped in seaweed with any number of varying ingredients inside. Popular fillings are spicy bulgogi and tuna with mayonnaise.  (7-11 Korea)The newly launched product has rice cooked in Cheong Kwan Jang red ginsen

FoodApril 26, 2016