Former YG Entertainment head booked for procuring sex services

The police Thursday booked Yang Hyun-suk, former CEO and chief producer of K-pop entertainment powerhouse YG Entertainment, on suspicion of having procured sexual services for foreign investors.Yang, 49, was being investigated over suspicions that he arranged and paid for sexual services for two investors from Southeast Asia in 2014 at an adult entertainment establishment in southern Seoul. The police said they have secured evidence that could back the allegations and booked three employees of t

Social AffairsJuly 18, 2019

[David Ignatius] America’s immediate challenge in Persian Gulf is maritime security

Here’s the most intriguing fact about Iran’s apparent seizure Saturday of a small oil tanker about 385 kilometers northwest of here: Thus far, it has brought only a muted response from the United Arab Emirates, in whose waters the vessel had been operating, and from the United States, which is quietly organizing a multinational effort to protect shipping in the Persian Gulf. If this were a boxing match, you’d say that the United States is trying to let Iran punch itself out. Th

ViewpointsJuly 18, 2019

Seoul silent on Tokyo’s arbitration offer

South Korea offered no answer Thursday to Japan’s call to settle the row over Tokyo’s wartime forced labor through third-country arbitration, raising tensions further between the neighbors, with both countries turning down resolution proposals from the other.Seoul intentionally missed Thursday’s deadline by which Tokyo demanded Seoul respond to its request to resolve historical disputes stemming from its 1910-45 colonization of the Korean Peninsula while hinting at possible ret

Foreign AffairsJuly 18, 2019

S. Korea cuts growth outlook to 2.2%, key rate to 1.5% amid uncertainties

The Bank of Korea has slashed its forecast for this year’s economic growth to 2.2 percent, reflecting the negative impact of external uncertainties including Japan’s ongoing export curbs.It also carried out an earlier-than-expected base interest rate cut to 1.5 percent, embracing the monetary easing signals in the United States and other developed economies.“Considering the changes in economic conditions since the last outlook (announcement) in April, we have set the economic g

EconomyJuly 18, 2019

Overstretched rope, insufficient safety measures blamed for deadly destroyer accident

The inappropriate management of mooring ropes and insufficient safety measures caused the deadly accident in May involving a Navy destroyer at the southern port of Jinhae, the Navy said Thursday.On May 24, one Navy officer was killed and four others were injured after one of the mooring ropes used to connect the 4,400-ton Choi Young destroyer to the dock suddenly snapped during a ceremony to welcome the destroyer after a mission in waters off Somalia.Announcing the results of its monthlong probe

Social AffairsJuly 18, 2019

Former MMCA curator acquitted of defaming late artist Chun Kyung-ja

The Supreme Court upheld a lower court ruling in favor of a former curator at the MMCA who was accused of defamation of the deceased but later acquitted, the court said Thursday. The former curator, identified only as Chung, is one of six MMCA officials who were sued in 2016 by the daughter of the late artist Chun Kyung-ja. Chun’s daughter Sumita Kim accused Chung of defaming Chun, as well as copyright infringement, in connection with the painting “Beautiful Woman.”Chung was ch

Arts & DesignJuly 18, 2019

Moon meets bipartisan parliamentary leaders amid deepening economic woes

President Moon Jae-in began talks with ruling and opposition party leaders Thursday afternoon on urgent issues that include Japan's trade pressure on South Korea and how to reinvigorate the local economy.They started the Cheong Wa Dae meeting at around 4 p.m. and it was scheduled to last about two hours.The occasion marks Moon's first formal group meeting with the heads of the five parties -- the ruling Democratic Party, the main opposition Liberty Korea Party, the center-right Bareunmirae Party

PoliticsJuly 18, 2019

Volvo, Samsung SDI to co-develop battery packs for electric trucks

Volvo Group said Thursday it has entered into a strategic alliance with Samsung SDI to develop battery packs for electric trucks. The Swedish automaker said the alliance will cover joint development of battery packs specifically developed for its models. While Samsung SDI intends to provide battery cells and modules to meet the demand for the automaker’s electric trucks, Volvo will utilize the battery pack technology for assembly in its plants. “The alliance with Samsung SDI is

IndustryJuly 18, 2019

Naver, Line accused of UI plagiarism

　Some South Korean app developers have accused internet giant Naver and Japanese subsidiary Line of plagiarism, saying the companies copied their user interface designs.　Carrot Market, an app used for buying and selling secondhand items, said Line introduced a similar app in Vietnam last year and plagiarized Carrot Market’s design and features.　Line’s Get It app is “extremely similar” to Carrot Market in terms of everything from the main display to the identification meth

TechnologyJuly 18, 2019

[Newsmaker] KCTU stages nationwide strike over next year’s minimum wage

The Korean Confederation of Trade Unions, one of the country’s two biggest umbrella unions, staged multiple strikes across the country Thursday in protest against key labor policies of the Moon Jae-in administration.Among the slew of policies labor groups have condemned, next year’s minimum hourly wage that will fall short of reaching 10,000 won ($8.50) is at the center of amplifying discontent.Some 50,000 members of the KCTU joined demonstrations held nationwide, of which about 5,00

Social AffairsJuly 18, 2019

AR-based Jurassic World to arrive in Seoul this year: SKT

　With companies around the world seeking to incorporate 5G network technology with augmented reality contents, South Korea’s leading mobile carrier has come up with an entertaining marketing gimmick to demonstrate the combination’s potential usage in real life. 　Korea’s biggest mobile carrier SK Telecom announced Thursday that it will establish an AR-based Jurassic World at some parks in Seoul. The company said it had agreed with the animated dinosaur’s property owner, NB

TechnologyJuly 18, 2019

KIPO arrests counterfeiters of ‘Song Joong-ki facial masks’

Ten suspects behind the illegal manufacturing and distribution of counterfeit facial masks, which used pictures of actor Song Joong-ki without permission, were arrested on charges of trademark infringement, the Korean Intellectual Property Office said Thursday.The suspects had distributed more than 6 million sheets of counterfeit facial masks worth 20 billion won ($17.29 million) since April 2017, according to the Special Judicial Police under KIPO. All the products were seized upon their arrest

IndustryJuly 18, 2019

Israeli economic delegation visits Hyundai Card HQ

A 15-member economic mission from Israel visited Hyundai Card’s headquarters Wednesday, amid Israeli President Reuven Rivlin’s state visit to South Korea, the firm said Thursday. The delegation, which consisted of Israeli government officials and heads of startups in the auto-tech and ICT sector, met with Hyundai Card CEO Chung Tae-young at the firm’s headquarters in Yeouido, western Seoul.  Chung joined the tour of the office, explaining the firm’s key design projec

MarketJuly 18, 2019

Calm, steady approach needed to tackle Japan’s export curbs: SK chief Chey

SEOGWIPO, Jeju Island -- SK Group Chairman said Thursday he will come up with countermeasures against Japan’s strengthened export control of three materials crucial for chip fabrications in a calm manner, stressing that a knee-jerk reaction would not help resolve the matter.“(The best way to resolve the matter) is to seek what we can do the best steadily and everyone (finds a breakthrough) from our respective positions. This case won’t work even with any dramatic plans,”

IndustryJuly 18, 2019

Peace park to be built in memory of late victim of Japan's sex slavery

A peace park named after the late Kim Bok-dong, an iconic Korean victim of Japanese wartime sexual slavery, will be built in her hometown, officials said Thursday.The municipal council of Yangsan, a South Gyeongsang Province town about 420 kilometers southeast of Seoul, said it and 21 civic groups have jointly formed a preparatory committee to construct a public park in memory of Kim, who died in January aged 93. The park, tentatively named "Kim Bok-dong Peace Park," will serve as a pl

PeopleJuly 18, 2019

Chief financial regulator offers to resign

The head of South Korea's top financial regulator said Thursday he has offered to resign, ahead of an expected reshuffle of the Cabinet. Financial Services Commission Chairman Choi Jong-ku told reporters that he tendered his resignation for President Moon Jae-in to widen the scope of his choice before the expected Cabinet reshuffle.Choi, a former deputy finance minister who served at the finance ministry for about three decades, took the job in July 2017.  Although one year remains in his t

PoliticsJuly 18, 2019

[News Focus] ‘Sagging economy’ faces 2nd rebound in dollar, oil

SEJONG -- Prices of the US dollar and gasoline directly affect a large proportion of South Korean businesses and households in terms of manufacturing costs and purchasing power.While monetary authorities sometimes have intervened in the foreign exchange market and hamper the cheap dollar in an attempt to promote exports, the greenback’s current strong position versus the Korean won suggests the local economy has been sagging.Simultaneously, a hike in international prices of crude oil, whic

EconomyJuly 18, 2019

[News brief] 37 Koreans running illegal gambling sites in Malaysia extradited

Koreans who ran illegal gambling sites from an office in Kuala Lumpur, Malaysia, have been arrested here following extradition from Malaysia, police said Thursday.  Thirty-seven people from two gambling organizations were extradited from Malaysia between July 9 and Wednesday in the largest such operation. A man surnamed Lee and nine others are suspected of having made profits totaling 19.2 billion won ($16.3 million) by operating an illegal gambling site that handled about 384 billion won s

Social AffairsJuly 18, 2019

[News brief] Actor sent to prosecution for alleged sexual assault

The police sent the case against a South Korean actor to the prosecution Thursday, seeking his indictment on charges of sexually assaulting two female staff members from a production company.  Kang Ji-hwan, 41, is suspected of raping a woman and sexually molesting another when they were sleeping in a room at his house in Gwangju, south of Seoul, after a drinking session July 9. Police also conducted a drug test to determine whether he used drugs to make the women fall unconscious.Kang initi

Social AffairsJuly 18, 2019