Hungary police refer cruise ship captain in deadly boat sinking to prosecution

Hungarian police have referred to the prosecution the captain of a cruise ship that sank and caused dozens of South Korean deaths in May in Budapest, recommending indictment for negligence and other charges, officials said Tuesday.　Wrapping up a roughly four-month-long probe into the accident, the Budapest police announced the results of its investigation into Yuriy C., the captain of the Switzerland-registered cruise ship, Viking Sygin, according to the officials.  　He is accused of causin

World NewsOct. 15, 2019

Three consortia apply for internet-only bank: regulator

South Korea‘s financial regulator said Tuesday it received applications from three consortia, including one led by a fintech firm, for a license to set up a new internet-only bank. 　Fintech firm Viva Republica led one consortium, which included KEB Hana Bank, Hanwha Investment & Securities and the Korean unit of Standard Chartered bank.　The second consortium is led by an industry organization of owners of small businesses in Seoul, the Financial Services Commission (FSC) said in a stat

MarketOct. 15, 2019

S. Korea held scoreless by N. Korea in chippy World Cup qualifier

South Korea were held to a scoreless draw by North Korea in their World Cup qualifying match in Pyongyang on Tuesday, a much-anticipated showdown that left fans both in and out of the communist country in the dark.The Koreas drew blank before an empty Kim Il-sung Stadium in Pyongyang in Group H action in the second round of the Asian qualifying for the 2022 FIFA World Cup. The two teams traded four yellow cards in their fourth scoreless draw in the past seven meetings.South Korea still lead Nort

SoccerOct. 15, 2019

[Graphic News] No. of seniors suffering mental disorders rising rapidly

　The number of elderly South Koreans with mental health issues has risen sharply in recent years, as the country scrambles to provide better health care for its people, a report showed.　In the report to the National Assembly, the Health Insurance Review and Assessment Service said that in the 2010-2018 period, the number of people over 80 afflicted with major depression surged 176.5 percent, with the figure for those in their 70s increasing 59.4 percent.　As of last year, roughly 40 percent of th

TechnologyOct. 15, 2019

Cho Kuk’s resignation dominates parliamentary audit of Justice Ministry

The parliamentary audit of the Justice Ministry, held Tuesday without the minister, was dominated by political wrangling over Justice Minister Cho Kuk’s resignation the previous day over corruption allegations surrounding his family. The audit proceeded with Vice Justice Minister Kim O-su taking the place of Cho, who stepped down 35 days after he was appointed amid strong resistance from the opposition parties. The opposition bloc denounced Cho as “irresponsible” and demanded a

PoliticsOct. 15, 2019

Koreas meet in historic World Cup qualifier in Pyongyang

A historic World Cup qualifying soccer match in Pyongyang between North Korea and South Korea has been cast into media darkness in the South, with the North keeping out rival reporters and spectators and refusing a live broadcast from Kim Il-sung Stadium.The South Korean soccer association, known as the KFA, sent two staff members to the North Korean capital to watch Tuesday's game, but ruled out live text updates on its website because of uncertainties in internet connection, said association o

SoccerOct. 15, 2019

Ex-Justice Minister Cho Kuk returns to law faculty

Former Justice Minister Cho Kuk is returning to the faculty of Seoul National University School of Law. According to the school on Tuesday, Cho faxed a request to return to his teaching job at the school around 6 p.m. Monday.Earlier that afternoon, Cho announced his resignation as justice minister in a statement. President Moon Jae-in accepted the resignation at 5:38 p.m. Cho’s request was approved by the dean’s office and the university’s vice president, the school said.L

PoliticsOct. 15, 2019

Daewoong, Medytox lock horns over BTX DNA report

Daewoong and Medytox once again butted heads over newly submitted DNA investigation reports about each other’s BTX strains. The South Korean manufacturers of wrinkle-erasing botulinum toxin products Meditoxin and Nabota are entangled in legal battles in Korea and the US regarding the source of Daewoong’s BTX strain. Medytox claims Daewoong stole its BTX through a former employee who moved to Daewoong. DNA analysis of the two firms’ BTX was intended to shine a light on the riddl

IndustryOct. 15, 2019

[Kim Seong-kon] We, too, can inadvertently become terrorists

Today we live in a violent world. Every day, war and terrorism are exterminating human lives somewhere on this planet. In advanced countries, violence is not tolerated, and is strictly prohibited by law. In many underdeveloped countries, however, violence is so rampant and omnipresent that people have no other choice than to live with it. Violence takes many forms. Some forms of violence are visible and obvious, and others are invisible, subtle, or inconspicuous. Experts say there are four

ViewpointsOct. 15, 2019

[Shuli Ren] Elliott and Blackstone enter hostile territory in Japan

A small $1.5 billion company is attracting the biggest movers in finance in what’s shaping up as the first high-profile foreign hostile takeover in Japan. If successful, it could wake up the sleepy $228 billion market of publicly listed real-estate companies.　The attention is on Unizo Holdings, until recently an obscure developer and hotel operator. The company has a big chunk of its office rental business, which accounts for about 90 percent of operating income, in Tokyo, where the vacanc

ViewpointsOct. 15, 2019

S. Korea, Japan to hold working-level talks amid tensions over trade, history

South Korea and Japan will hold working-level diplomatic talks in Seoul this week, Seoul's foreign ministry said Tuesday, in what appears to be another move to address tensions over history and trade.Kim Jung-han, director-general for Asian and Pacific affairs at the foreign ministry, will meet his Japanese counterpart, Shigeki Takizaki, on Wednesday afternoon to discuss issues of mutual interest, the ministry said. Their meeting comes amid growing hopes that Prime Minister Lee Nak-yon's planned

Foreign AffairsOct. 15, 2019

Korean firms embrace cloud computing to be competitive

With cloud computing technology advancing at a rapid pace, South Korean companies are also transforming the way they handle their data and operations.SK Group’s IT service affiliate SK C&C said Monday it plans to convert 80 percent of its parent company’s business operations to a cloud-based system. For this, it has acquired about 20 percent stake in local cloud service provider Glucose. The decision is designed to integrate Glucose’s Microsoft Azure cloud computing service

TechnologyOct. 15, 2019

[News Focus] 60% of Korean households have 1-2 members

SEJONG -- The growing number of single-person households in South Korea came to the fore three or four years ago, along with the expanding number of industries and services designed to accommodate them. This demographic change reflects the rapid growth in the number of seniors residing alone and falling marriage rates among people in their 30s and 20s.Simultaneously, low fertility rates among newlyweds have produced a sharp increase in the number of two-member households.The number of households

Social AffairsOct. 15, 2019

[Newsmaker] Military culls wild boars to stop spread of swine fever

South Korea’s Defense Ministry kicked off a joint operation Tuesday to shoot wild boars to stop the African swine fever from spreading near the border areas to North Korea, after infected carcasses were found. In a joint mission with the Environment Ministry, about 70 to 80 teams of 11 to 12 members each, will be dispatched to border regions, including Paju, Cheorwon and Yeoncheon to shoot down the wild boars with guns and traps, according to the Defense Ministry.Since the first case was c

Social AffairsOct. 15, 2019

S. Korea, US likely to hold 2nd round of defense cost-sharing talks next week

South Korea and the United States are likely to hold a new round of defense cost-sharing talks next week, diplomatic sources said Tuesday, in what would be the first meeting since a former financial technocrat took over as Seoul's chief negotiator.The new negotiator, Jeong Eun-bo, is said to be heading to Hawaii to meet his US counterpart, James DeHart of the State Department, for the talks on renewing the Special Measures Agreement, according to the sources. "We're at the final stage of co

Foreign AffairsOct. 15, 2019

Korea National Opera looks forward to greater stability, end to turbulence, under a new leader

The Korea National Opera’s newly appointed Artistic Director Park Hyung-sik, 66, announced four areas he intended to focus on during his term, at a press event held Tuesday at the Seoul Arts Center. They are balance and harmony; fairness and solidarity; expansion of the company; and social responsibility.Park, a former singer with more than 20 years of experience, previously led the Jeongdong Theater and the Uijeongbu Arts Center. He will be heading the state opera company for three years.

PerformanceOct. 15, 2019

Posco wins innovation prize at Steelie Awards

South Korean steelmaker Posco announced Tuesday it has bagged the innovation prize at the 10th Steelie Awards for its eco-friendly advanced resolution printing technology. This year’s Steelie Awards, hosted by the World Steel Association (worldsteel) was held Tuesday in Mexico’s northeastern city of Monterrey. Posco Group Chairman Choi Jeong-woo attended the awards ceremony.  Posco’s advanced resolution printing technology dubbed Posart, allows the firm to print high-defin

IndustryOct. 15, 2019

Samsung vs. LG spat continues on YouTube

The spat over TV technology between South Korean tech giants Samsung and LG has continued online, with Samsung hinting at the burn-in problem of LG’s organic light-emitting diode TVs, according to industry sources on Tuesday. Samsung recently posted a 50-second video clip on its YouTube channel, titled “TV Burn-in Checker.” Burn-in, widely known as a major weakness of OLED TVs, refers to the discoloration of pixels caused by displaying static images due to the characteristics o

TechnologyOct. 15, 2019

Viva Republica-led consortium reapplies for internet-only bank

Viva Republica, operator of mobile money transfer service Toss, said Tuesday that its consortium has applied for a business license to establish a new internet-only bank, making its second attempt this year.Its shot at winning is seen as more plausible this time, especially as the previous main rival -- a consortium led by brokerage Kiwoom Securities -- renounced its own bid. “We pioneered Korea’s fintech industry through Toss. Now, through Toss Bank, we plan to build a new internet-

MarketOct. 15, 2019