[Newsmaker] S. Korea issues cold wave advisory for Fri

South Korea's state weather agency on Monday issued a cold wave advisory for most of areas of the country as the mercury is expected to drop sharply.  The warning that went into effect as of 10:00 p.m. comes as the Korea Meteorological Administration predicted the temperature will drop by more than 10 degrees Celsius early Tuesday from the day before. It added that with many parts of the country to be affected by strong winds, the wind chill factor will cause people to feel the freezing tem

Social AffairsDec. 30, 2019

Parliament passes corruption probe unit bill amid opposition lawmakers' protest

The National Assembly passed a controversial bill to set up a separate unit to probe corruption by high-ranking public officials Monday, lending support to President Moon Jae-in's bid to reform the prosecution.   A parliamentary vote came about eight months after the ruling party-led bloc placed related prosecution reform bills on a legislative fast track in late April, along with an electoral reform bill.   The establishment of the proposed corruption probe unit is aimed at

PoliticsDec. 30, 2019

Jeju Air delays signing to acquire Eastar Jet

Jeju Air Co., South Korea's largest low-cost carrier, said Thursday it has postponed the signing of a deal to acquire Eastar Jet as it takes more time to conduct due diligence on the smaller budget carrier.Jeju Air was originally set to sign a share purchase agreement with Eastar Holdings within this year to take over a 51.17-percent stake in Eastar Jet for 69.5 billion won ($60 million). "The company entered into due diligence of Eastar Jet and planned to complete it by Jan. 9. But the pro

IndustryDec. 30, 2019

[Newsmaker] From new IDs to pension boost, changes due in 2020

The new year sees a wide range of changes across the spectrum of South Koreans’ daily lives. From new passports to salary hikes for military conscripts, here are some of the changes that 2020 will bring. Sex offender registry available on mobileParents and guardians of minors will be able to view information about registered sex offenders in their districts on their mobile devices. Currently, the information is sent via mail to households with children under 19.Schools and other insti

Social AffairsDec. 30, 2019

[Graphic News] Number of ferry users between Incheon and 10 Chinese ports tops 1m

　The annual number of passengers using ferries between South Korea‘s western port of Incheon and 10 Chinese cities has surpassed 1million this year for the first time in eight years, port authorities here said. 　According to the Incheon Port Authority, the figure was provisionally tallied at 1,003,030 from Jan. 1-Dec. 19. 　It’s the first time the annual figure crossed the 1 million threshold since 2011, when it recorded 1,043,230, the agency said. (Yonhap)

IndustryDec. 30, 2019

Ministry gives conditional approval to SK Broadband, Tbroad merger

The ICT Ministry on Monday approved the merger between SK Telecom’s SK Broadband and Tbroad, the second-largest cable operator in South Korea. If SK Telecom receives approval from the Korea Communications Commission next month, SK Telecom will hold a 74.37 percent stake in the new company formed from its subsidiary and Tbroad of Taekwang Group.The ministry said it has approved the merger, as well as Taekwang Group’s acquisition of a 16.79 percent stake in the new company, based on th

IndustryDec. 30, 2019

[Best Brand] SNP continues success with overnight sleeping masks

Cosmetics/ SD BiotechnologiesCosmetics and skin care brand Shining Nature Purity continues to succeed in the market with its latest sleeping pack series that comes in single-use packaging. SNP is SD Biotechnologies’ cosmetics line that has entered the skin care market with its sleeping mask products. In 2015, their sleeping masks contributed to an eightfold increase in the company’s sales from 2014. SNP’s latest sleeping pack series comprises three types: SNP Gold Collagen

IndustryDec. 30, 2019

Regulator to begin antitrust review of Delivery Hero's acquisition of Woowa

South Korea's corporate regulator said Monday it will begin an antitrust review of a $4 billion deal by Germany's Delivery Hero to acquire the nation's largest food delivery app operator, Woowa Brothers. The Fair Trade Commission said it has received documents from the two firms for an antitrust review, which could take at least 120 days. The FTC will review whether the planned acquisition would hurt competition in the nation's food delivery app market. An FTC official said the regulator will &q

IndustryDec. 30, 2019

Kospi falls below 2,200, Kosdaq rises near 670 in 2019 finale

South Korea’s stock market continued its sluggish performance on Monday -- the last trading day of 2019 -- amid a lack of significant momentum. The benchmark Kospi closed at 2,197.67 points, down 0.30 percent, or 6.54 points, from the previous session, according to stock market operator the Korea Exchange. The figure however rose by 8.53 percent, or 187.57 points, from the first trading session of the year -- which closed at 2010.  Korean shares opened nearly flat on the day as invest

MarketDec. 30, 2019

CJ ENM CEO apologizes for vote rigging on Mnet’s ‘Produce’ series

CJ ENM, the company behind Mnet, has officially responded to the vote-rigging scandal surrounding the cable channel’s flagship audition show. “I’m extremely sorry for the hurt it caused to many trainees who passionately followed their dreams of debuting,” CEO Heo Min-heoi said at a press conference at the company’s headquarters in Seoul on Monday.The apology comes after the show’s key producers were found to have fixed the votes for some contestants in return

K-popDec. 30, 2019

[Best Brand] Lotte Card launches I’m DRIVING for frequent drivers

Credit card/ Lotte CardFor customers driving long distances, Lotte Card, a major credit card company in the nation, has launched the I’m DRIVING card that offers discounts at gas stations across the country and other auto-related benefits.Two types of the new credit card are offered -- DC One and DC All. For the DC One type, customers can choose one of four oil retail brands -- SK Energy, GS Caltex, Hyundai Oilbank and S-Oil -- or choose either weekdays or weekends as an option, to get a d

MarketDec. 30, 2019

Coupang to construct its largest fulfillment center in Daegu

Coupang said Monday it would build a high-tech mega fulfillment center in the Daegu National Industrial Complex, in Daegu. Holding the groundbreaking ceremony, the e-commerce platform said it will invest 320 billion won ($276 million) to build a mega-sized fulfillment center covering 330,000 square meters, that is equivalent to about 45 soccer fields. The construction is expected to be completed in 2021. According to Coupang, the fulfillment center will serve as the key hub in the company&r

ConsumerDec. 30, 2019

Prosecutors question key witnesses in Ulsan mayoral election scandal

Prosecutors questioned two key witnesses as part of ongoing investigations into Ulsan mayoral election meddling scandal, allegedly involving President Moon Jae-in's secretaries and police, in Seoul on Monday.Im Dong-ho, a former senior member of the ruling Democratic Party, and former Ulsan Mayor Kim Gi-hyeon were summoned to the Seoul Central District Prosecutors Office in the afternoon for questioning about the allegations that Song Byung-gi, Ulsan's vice mayor for economic affairs, conspired

Social AffairsDec. 30, 2019

ULikeKorea taps global horse health care market

Livestock health care company uLikeKorea on Monday announced a new patch type diagnosis device for horses, signaling its intent to make inroads into the global horse health care market worth $300 billion with 60 million horses. Coinciding with the portfolio expansion, uLikeKorea said it has established the Livecare Denmark office in Copenhagen.  “The patch-type device for horses, developed for the first time in the world, predicts diseases and monitors activity levels,” said uLi

IndustryDec. 30, 2019

[Tyler Cowen] Women dominated the decade

People react so emotionally to politics, I have decided to assess the decade just past by considering something less partisan but no less illuminating: culture.Start with the music I have been listening to over the last few weeks. Every December I buy the albums that appear on the various “best of” lists. This year my pile of compact discs is mostly music recorded by women -- Billie Eilish, Angel Olsen, Sharon Van Etten, Lana Del Rey, Taylor Swift, Jenny Lewis, FKA Twigs and others.

ViewpointsDec. 30, 2019

[Noah Smith] Inequality is up a lot. The question is: how much?

Inequality in the US has risen a lot during the past few decades. This has sparked outrage among segments of the public, raised concern among economists and other social scientists, and revitalized America’s socialist movement.Much of the debate has been driven by the work of three French economists -- Thomas Piketty, Emmanuel Saez and Gabriel Zucman. The trio has put out a huge amount of impressive work, digging into historical archives and patching together a diverse array of modern data

ViewpointsDec. 30, 2019

Justice minister nominee vows to push ahead with prosecution reform

Justice minister nominee Choo Mi-ae on Monday pledged a swift and thorough implementation of prosecution reform, one of the most controversial reform initiatives of President Moon Jae-in and his ruling Democratic Party. Speaking at her parliamentary confirmation hearing, Choo, a five-term ruling Democratic Party lawmaker and former judge, expressed her support for an envisioned independent investigation body to probe corruption of senior government officials, including the president, public pros

Social AffairsDec. 30, 2019

From glory of BTS, ‘Parasite’ to untimely deaths; highs and lows of 2019

January 2020 will decide if “Parasite” becomes the first South Korean film ever to win at the Golden Globe Awards. The next month, a run at the Oscars will wrap up an impressive series of wins for director Bong Joon-ho’s work, which bagged the Palme d’Or at the Cannes Film Festival earlier this year.This year, Korean pop culture experienced highs like the Bong film taking the world by storm and depressing lows such as the untimely deaths of beloved celebrities. Here&rsquo

PerformanceDec. 30, 2019

[Best Brand] Lotte Duty Free adopts ‘art’ marketing for beauty brands

Celebrating its 40th anniversary next year, Lotte Duty Free is preparing for art and cultural marketing activities in collaboration with artists and beauty brands. The leading duty-free shop recently unveiled an art collaboration with British artist Steve Wilson, who made his fame by working with international brands, such as Hermes, Karl Lagerfeld and Nike. He is also a pop artist recognized for extending the boundaries of contemporary art by crossing borders of art, typography and graphic desi

IndustryDec. 30, 2019