Lawmaker urges release of US files on Gwangju Uprising

Rep. Park Joo-sun of the minor opposition Bareunmirae Party called on the Ministry of Foreign Affairs on Monday to intensify diplomatic efforts to push for the disclosure of US government documents related to the 1980 pro-democracy uprising in Gwangju. During a parliamentary audit of the Foreign Ministry at the National Assembly, Park stressed the need for the systematic collection of records for a thorough investigation into remaining questions about the Gwangju Democratic Uprising. 

Foreign AffairsOct. 21, 2019

[Newsmaker] JP Morgan Chase, Societe General bagged W8b from controversial derivatives products: data

Overseas investment banks JP Morgan Chase and Societe General earned a combined commission income of nearly 8 billion won ($6.8 million) from designing derivatives products sold mostly via South Korean commercial lenders that put investors at huge risk, data from the Financial Supervisory Service showed Monday.The data was acquired and released by a ruling Democratic Party lawmaker here after the nation’s financial watchdog said earlier this month that it has found 750 suspected cases of &

MarketOct. 21, 2019

Three workers cutting grass killed after expressway truck collision

Three workers who were mowing grass on the northbound side of the Jungbu Inland Expressway in Sanjgu, North Gyeongsang Province, were killed Monday after a traffic accident.Around 11:53 a.m., a 21-ton cargo truck crashed into two 1-ton trucks parked on the shoulder of the expressway. The two pickup trucks then overturned and slammed into the three workers, who were cutting grass next to the expressway. The three victims, identified by their surnames and ages -- Lim, 72, Lee, 72, and Kim, 53 -- d

Social AffairsOct. 21, 2019

Aekyung, Stonebridge Capital join hands for Asiana bid

Retail-to-flight conglomerate Aekyung Group said Monday that it has joined hands with home-grown equity fund Stonebridge Capital to form a consortium to acquire Asiana Airlines.The two firms participated in the initial bid separately and were shortlisted to buying a controlling 31 percent stake in the country’s second-largest full-service carrier.Aekyung said in a statement that the partnership with Stonebridge Capital is based on its “firm determination” to acquire Asiana, as

IndustryOct. 21, 2019

Pharmacists support wholesalers’ demand for ranitidine recall reimbursement

A South Korean pharmacists’ association on Monday sided with drug wholesalers demanding 3 percent reimbursement for costs incurred in the aftermath of a recall on ranitidine. Ranitidine is a drug used to treat ulcers of the stomach and intestine. In September, the US Food and Drug Agency found that the drug contained a carcinogenic substance called N-Nitrosodimethylamine (NDMA). The most popular ranitidine drug, GSK’s Zantac, was pulled from shelves, as were its many generic versions

IndustryOct. 21, 2019

BMW’s New Mini Clubman gets face-lift

BMW Group Korea unveiled Monday its premium compact car brand Mini’s face-lifted third generation New Mini Clubman, maintaining its distinctive style within the compact segment.The four-door compact wagon has gone through detailed changes, such as an expanded front grille and aerodynamically improved side mirror cap, but also keeps the Mini’s design heritage, such as the Union Jack-themed rear design, the automaker explained. For Cooper S and Cooper SD models, adaptive light-emitting

MobilityOct. 21, 2019

LG Chem becomes first Korean battery company to join RMI

LG Chem announced Monday it has become the first South Korean battery manufacturer to join the Responsible Minerals Initiative.RMI is a global association established in 2008 that monitors the ethical sourcing of minerals -- such as gold, tin, tantalum and tungsten -- mined in conflict regions. It also keeps an eye on the sustainable mining of cobalt, an indispensable raw material for batteries used for smartphones and electric vehicles.LG Chem said it joined the RMI to transparently source the

IndustryOct. 21, 2019

Shinsegae appoints ex-retail consultant as E-mart CEO

Korean retail conglomerate Shinsegae Group has appointed former Bain & Company consultant Kang Heui-seok as new chief of discount chain E-mart, in an earlier-than-expected company reshuffle.Kang joined Bain & Company in 2005 and was promoted to partner in 2014 to oversee the consumer product and retail projects. Before joining Bain & Company, he worked at the Ministry of Agriculture, Food and Rural Affairs, dealing with agro-economic policy since 1994.  “The latest reshuff

IndustryOct. 21, 2019

Hyundai Motor invents self-driving tech using machine learning

Hyundai Motor Group said Monday that it has developed the world’s first self-driving technology using AI-based machine learning, which detects the driver’s driving pattern and apply it to the smart cruise control system.In recent years, a host of carmakers have added advanced driver assistance systems to their models for safer and more convenient driving. One of the core technologies is adaptive cruise control, a function which makes a car slow down and speed up automatically to

MobilityOct. 21, 2019

S. Korea grapples with gender discrimination in workplace

South Korea has seen its female employment index improve steadily over the past 10 years, but continues to struggle with gender equality when it comes to parental leave and consequent career breaks, data showed Monday.Unlike in most developed economies which tend to see the employment rate of women in their 40s peak and start declining in the 50s, Korea has seen women in their late 30s and early 40s -- the prime age for childbirth and childcare -- being pushed out of the labor market. All seven

EconomyOct. 21, 2019

Mercedes-Benz Korea launches first pure EV

Mercedes-Benz Korea, local importer and distributor of the German luxury carmaker, said Monday that it has launched its first pure electric car under its green car brand EQ.The new Mercedes-Benz EQC 400 4MATIC made its global debut last year in Europe, and in March at the Seoul Motor Show.  For enhanced customer experience, the company also introduced premium charging services and has expanded charging networks.The new EQC is powered by an 80-kWh lithium-ion battery developed by Daimler sub

MobilityOct. 21, 2019

Ministry to host forum on peace-driven economy of Korean Peninsula

The Ministry of Unification and state-run Korea Institute for National Unification are jointly hosting an international forum Tuesday on ways to draw up a road map for the era of a peace-driven economy. The International Forum on Korean Peninsula Peace Economy 2019 is designed to raise domestic and international understanding of the peace economy and the new economic map initiative of the Moon Jae-in administration to foster the formation of an inter-Korean economic community. Officials fro

North KoreaOct. 21, 2019

[Feature] Thai worker’s death raises questions over migrant crackdown

Last month, a 29-year-old Thai man who was working in Korea illegally was found unconscious in the mountains near a factory in Gimhae, South Gyeongsang Province, after a crackdown by immigration authorities. 　Video footage shows a gray van stopping in front of the factory. As officers get out of the van, migrant workers shout, “Officers are here for a crackdown,” and then scramble to escape. The Thai man was found some 100 meters away from the factory and was transferred to a hospita

Social AffairsOct. 21, 2019

South Korea’s ICT exports skid for 11th month

South Korea’s information communications technology exports have declined for 11 straight months due mainly to a slowdown in demand for memory chips, data showed on Monday. According to the Trade Ministry, Korea’s ICT exports stood at $15.8 billion in September, down 22 percent from the same period last year. The on-year decline has continued for 11 consecutive months since November last year. The shipment of chips last month stood at $8.5 billion, a 31.5 percent drop on-year. D

IndustryOct. 21, 2019

Beijing says no one can stop Taiwan 'reunification'

BEIJING (AFP) -- China's defence minister made an uncompromising call Monday for the "reunification" of Taiwan with the mainland, telling a high level defence forum that the process was something "no force"  could stop.Self-ruled Taiwan is viewed by China as a renegade province which will eventually be unified with the mainland, by force if necessary, after the two sides split in 1949 after a civil war.China will not stop in its efforts towards "realising the comple

World NewsOct. 21, 2019

Rookie TXT returns with new album ‘The Dream Chapter: Magic’

TXT, the rookie band from BTS agency Big Hit Entertainment, on Monday returned to the music scene with the group’s first full-length album, “The Dream Chapter: Magic.”The new album arrives seven months since the five-piece act -- leader Soobin, Yeonjun, Beomgyu, Taehyun and Huening Kai -- made a much-anticipated debut in March with EP “The Dream Chapter: Star.” The new eight-track album is led by “Run Away,” a synth-pop tune that highlights its brig

K-popOct. 21, 2019

S. Korea issues travel warning for Chile

South Korea issued a travel warning for Chile on Monday, as protests over a hike in public transport fares are escalating into nationwide riots, the foreign ministry said.A "yellow warning," the second lowest of the four-phase travel advisory system, calls for South Korean citizens to refrain from traveling to the South American nation and for those staying there to take extra caution for safety, the ministry said in a release.  Demonstrations turned into violent riots in Chile ov

Social AffairsOct. 21, 2019

Moon asks religious leaders to help heal social conflicts

President Moon Jae-in expressed concern Monday about unrelenting social and ideological rifts in South Korea, requesting that the religious community help address the problem.He highlighted the political wrangling over some key policy goals supported by many people, including prosecution reform, and the ensuing conflict among citizens.As a specific example, the president cited a controversial plan to create an independent unit to investigate corruption by high-ranking government officials."

PoliticsOct. 21, 2019

China's defense chief meets vice defense ministers from Koreas: Xinhua

China's Defense Minister Wei Fenghe held bilateral meetings with the vice defense ministers from the two Koreas and called for boosting cooperation with the respective countries, China's Xinhua News Agency reported Monday.Wei Fenghe met with Seoul's Vice Defense Minister Park Jae-min on Sunday in Beijing on the sidelines of the 9th Beijing Xiangshan Forum that kicked off in the day for a three-day run until Tuesday, according to the news report.     During the meeting, Wei Fe

DefenseOct. 21, 2019

Defectors send leaflets to NK criticizing Pyongyang over World Cup qualifier

A group of North Korean defectors said Monday it has sent anti-Pyongyang leaflets across the inter-Korean border, condemning the communist nation over a recent World Cup qualifier held between the two Koreas behind closed doors. Fighters for a Free North Korea released balloons carrying 500,000 leaflets from Gimpo, west of Seoul, to the North on Sunday, criticizing the North over the inter-Korean match held in Pyongyang last week with no fans, journalists or live broadcasting allowed. The group

North KoreaOct. 21, 2019