[Newsmaker] Top court confirms suspended sentence for Lotte chief

South Korea’s top court on Thursday confirmed a suspended sentence for Lotte Group Chairman Shin Dong-bin for his involvement in a corruption scandal that removed former President Park Geun-hye from power in 2017.The Supreme Court upheld a lower court’s ruling that sentenced Shin to 2 1/2 years, suspended for four years, on charges including bribery, dereliction of duty and embezzlement. 　Lotte Group said in a statement it will do its best to become a trusted company by contributing

Social AffairsOct. 17, 2019

Daily money transfers via mobile payment apps exceed W200b in H1

The value of daily money transfers via mobile payment apps in South Korea surpassed 200 billion won ($168.6 million) in the first half of the year, central bank data showed Thursday, as more people used smartphones for financial services. The value of daily money transfers via smartphone apps, such as Toss, Naver Pay and KakaoPay, stood at 200.5 billion won in the January-June period, up 60.7 percent from six months ago, according to the data by the Bank of Korea. Toss, Naver Pay and KakaoPay ac

MarketOct. 17, 2019

Daewoong’s BTX launches in Canada

Daewoong Pharmaceutical’s wrinkle-removing botulinum toxin Nabota has launched in Canada under the name Nuceiva, the company said Thursday. Marketed outside of Korea by US-based Evolus, Daewoong’s product is the first Korea-made BTX to penetrate the US market. Evolus gained the US Food and Drug Administration’s sales approval for the drug in March and launched it under the name Jeuveau in May.  As for the launch in Canada, Park Sung-soo, head of Daewoong’s Nabota bus

IndustryOct. 17, 2019

S. Korean, ASEAN officials look ahead to special summit and stronger regional ties

BUSAN -- Ahead of the highly anticipated summit in Busan next month between the leaders of South Korea and the Association of Southeast Asian Nations, top officials from participating countries gathered in the southern port city Wednesday and voiced high expectations for the future of the relationship between South Korea and the ASEAN nations.South Korean Ambassador to ASEAN Lim Sung-nam, ASEAN-Korea Center Secretary-General Lee Hyuk, Busan Mayor Oh Keo-don and Myanmar Ambassador to South Korea

Diplomatic CircuitOct. 17, 2019

S. Korea's vehicle exports fall 4.8% in September

South Korea's vehicle exports fell 4.8 percent in September from a year earlier due to production losses caused by strikes at GM Korea Co., the trade ministry said Thursday. Five passenger and two commercial carmakers in South Korea shipped a combined 171,425 vehicles last month, down from 180,051 a year ago in terms of units, the Ministry of Trade, Industry and Energy said in a statement. "GM Korea suffered over 15,000 units in production losses (in September) as its union went on strike f

MobilityOct. 17, 2019

Hyundai Kona named best compact diesel SUV in Europe

Hyundai Motor said Thursday its compact vehicle Kona was named the best diesel SUV model in Europe by an auto magazine in Germany. 　The German publication Auto Bild conducted a comparative evaluation of four compact diesel SUVs currently sold in Europe -- Hyundai Motor’s Kona, Mazda’s CX-3, Ford’s EcoSport and Dacia’s Duster.  The four models were assessed across seven categories of body, powertrain, driving dynamic, connectivity, environment, driving comfort and cos

MobilityOct. 17, 2019

Cho’s wife grilled amid questions over diagnosis

The wife of former Justice Minister Cho Kuk left the prosecutors’ office around midnight on Wednesday after being questioned over allegations that she forged a document and managed a dubious private equity fund. It was the sixth time prosecutors summoned Chung Kyung-shim, a professor at Dongyang University, for interrogation. She was questioned Oct. 3, 5, 8, 12 and 14.Chung’s lawyers said Tuesday that Chung has been diagnosed with a brain tumor and a cerebral infarction, or stroke. T

Social AffairsOct. 17, 2019

Fans, friends bid final farewell to K-pop star Sulli

Fans and fellow K-pop stars bade their final farewells to Sulli as her coffin finally left for her burial early Thursday.The 25-year-old K-pop star and actress, whose legal name was Choi Jin-ri, was found dead at her residence in Seongnam, south of Seoul Monday, sending a shockwave across the country. Before her death, she was suffering from severe depression, according to her close aides.Following a four-day funeral and mourning ceremony at a Seoul hospital, the coffin carrying Sulli left the h

PerformanceOct. 17, 2019

US's Pence and Pompeo head to Turkey seeking ceasefire

WASHINGTON (AFP) -- US Vice President Mike Pence and Secretary of State Mike Pompeo departed for Turkey on Wednesday, seeking to secure a ceasefire in the Turkish invasion of northern Syria."Our mission set is to see if we can get a ceasefire, see if we can get this brokered," Pompeo told reporters on his plane.Pence and Pompeo, who travelled on different planes, were scheduled to hold talks on Thursday with Turkish President Recep Tayyip Erdogan, but Erdogan has said he will not meet

World NewsOct. 17, 2019

US-China trade mini-deal being 'papered': Trump

WASHINGTON (AFP) -- The partial trade bargain struck last week with China is now being formally put down in writing, US President Donald Trump said Wednesday."It hasn't been papered yet but it is being papered," Trump told reporters at the White House.He insisted that China had already bought $40 to $50 million worth of American agriculture products last week.He reiterated that China committed to greater purchases of US farm exports, and made concessions because of economic pressure by

World NewsOct. 17, 2019

S. Korean soldier who lost legs to landmine aims for Paralympic gold

Pulling with smooth, steady strokes along a rowing course on an artificial lake, South Korean Paralympic hopeful Ha Jae-hun is the picture of calm determination, but it has taken him four years and 21 rounds of surgery to find this peace.Ha lost his legs when he stepped on a landmine just inside the Demilitarized Zone along the border with North Korea. He was just 21.The South Korean staff sergeant had volunteered to lead an early morning patrol after a colleague was assigned to training. That m

Social AffairsOct. 17, 2019

Moon urges more expansionary budget spending, signals no shift in key economic policy

President Moon Jae-in said Thursday his liberal administration is determined to maintain its expansionary fiscal policy and continue efforts to revitalize civilian investment in response to deepening woes facing Asia's fourth-biggest economy.Moon reiterated that South Korea, like many other countries, is suffering economic troubles due to such external factors as trade disputes and the sharp shrinking of the global manufacturing sector. He was apparently undaunted by attacks from political oppon

EconomyOct. 17, 2019

Japanese minister visits Tokyo war shrine

TOKYO (AFP) -- A Japanese minister on Thursday visited the Yasukuni war shrine at the centre of long-running tensions with regional neighbours -- the first cabinet-level official visit in over two years.Seiichi Eto, the minister in charge of Okinawa and what Japan calls "the Northern Territories" disputed with Russia, visited the shrine at the start of its annual autumn festival, an official at Eto's office told AFP.Prime Minister Shinzo Abe meanwhile continued his recent practice of s

World NewsOct. 17, 2019

US seeks to address N. Korea's security interests: official

The United States will address North Korea's security interests if the regime gives up its nuclear weapons program, a senior US official said Wednesday, beckoning Pyongyang to return to denuclearization talks.David Stilwell, assistant secretary of state for East Asian and Pacific affairs, testified at a Senate hearing after working-level talks between Washington and Pyongyang broke down in Sweden on Oct. 5."They've come out to talk. We need to encourage them to continue doing that," St

North KoreaOct. 17, 2019

Son Heung-min: S. Korea lucky to escape unscathed from World Cup qualifier vs. N. Korea

The biggest takeaway for Son Heung-min from South Korea's World Cup qualifying match against North Korea was how physical his opponents played.South Korea and North Korea played to a scoreless draw in Pyongyang on Tuesday, part of Group H action in the second round of the Asian qualification for the 2022 FIFA World Cup.There were no fans or journalists at the match, and it wasn't broadcast live in South Korea. Other than that four yellow cards were issued, little had been known about the contest

SoccerOct. 17, 2019

SoftBank bailout would give it control of WeWork: sources

NEW YORK (AFP) -- Japan's SoftBank Group has prepared a financing plan that would give it control of WeWork as the office sharing startup seeks badly- needed financing, sources told AFP Monday.The plan would give SoftBank, which is controled by billionaire Masayoshi Son, more than 50 percent of WeWork and further limit the influence of former chief executive and co-founder Adam Neumann, said sources who spoke on the condition of anonymity.Neumann stepped down as chief executive in September amid

World BusinessOct. 17, 2019

PM Lee likely to hold talks with Abe next week: Seoul official

Prime Minister Lee Nak-yon is likely to meet one-on-one with Japanese Prime Minister Shinzo Abe during his trip to Tokyo next week, though the plan has yet to be finalized, a Seoul official said Wednesday.   Lee plans to visit Tokyo to attend Japanese Emperor Naruhito's enthronement ceremony, slated for next Tuesday, in a trip that observers say could create momentum for a thaw in the countries' ties frayed over Tokyo's export restrictions and wartime forced labor.   "It

PoliticsOct. 16, 2019

Did Korean sales send SuperM’s debut album to top of Billboard chart?

Despite dominating this week’s headlines with their No. 1 debut in the US, K-pop supergroup SuperM has come under scrutiny over album sales in their home market that industry sources say have helped them secure the top spot. The group, consisting of stars from multiple acts under S.M. Entertainment -- SHINee, EXO, NCT127 and WayV -- topped the Billboard album chart in the first week of October with 164,000 album sales and 4.9 million streams, which means nearly 95 percent of the hot debut

K-popOct. 16, 2019

[Graphic News] Hong Kong protesters, police in chaotic clashes　

　Hong Kong has been battered by more than four months of pro-democracy protests - and increasingly violent clashes with police - with Beijing-backed Chief Executive Carrie Lam unable to resolve the unprecedented crisis.　　Hong Kong officials have revealed that out of 2,379 protesters arrested since June, 750 were under 18 and 104 under 16.　The subway system - viewed as an enemy for ferrying police and shuttering stations - has been crippled, with some 2,400 ticketing machines and turnstiles vanda

World NewsOct. 16, 2019

Moon urges swift prosecution reform, strengthened audit of prosecution

President Moon Jae-in on Wednesday ordered the interim chief of the Ministry of Justice to complete processes related to prosecutorial reform within the ministry’s authority within the month. In a meeting with Vice Justice Minister Kim O-su, Moon urged the vice minister to ensure that the absence of the minister is not felt, saying that it would take some time to appoint the new minister. Kim is currently heading the Justice Ministry following Cho Kuk’s resignation Monday, after anno

PoliticsOct. 16, 2019