[Newsmaker] Transition team denies report of first lady leading Cheong Wa Dae exhibition

The presidential transition team’s vice spokesperson on Wednesday denied a report that President-elect Yoon Suk-yeol’s wife, Kim Keon-hee, might lead an art exhibition at Cheong Wa Dae. It refuted a Yonhap report on Wednesday which quoted an aide to Kim saying that the incoming first lady could categorize artworks owned by Cheong Wa Dae and introduce them to the public. “It’s only a natural idea that Kim, who has expertise in art curation, helps open the art collection

April 27, 2022

Prosecution reform bill awaits final vote for official enactment

South Korea’s liberal Democratic Party of Korea is pushing to put the controversial prosecution bill up for a final vote, having arbitrarily passed the bill through a parliamentary committee by early Wednesday morning. The National Assembly started a plenary session at 5 p.m. where the Democratic Party was targeting to present proposed revisions to the Criminal Procedure Act and the Prosecutors’ Office Act for a final vote. It is likely the bill is passed within this week no matter

April 27, 2022

Yoon to meet with WEF chief, Heritage Foundation founder

President-elect Yoon Suk-yeol will meet separately with World Economic Forum (WEF) Chairman Klaus Schwab and US think tank Heritage Foundation founder Edwin Feulner on Wednesday to discuss cooperation in economic and security issues, his spokesperson said. With Schwab, Yoon is expected to exchange views on the Fourth Industrial Revolution and plans regarding the upcoming WEF Forum in Davos, Switzerland, according to Yoon's spokesperson Bae Hyun-jin. "As the Yoon government pledged to make t

April 27, 2022

Yoon's spokesperson hits back after Moon criticizes presidential office relocation plan

President-elect Yoon Suk-yeol's spokesperson hit back at President Moon Jae-in on Wednesday for criticizing Yoon's plan to relocate the presidential office out of Cheong Wa Dae, saying the outgoing president should focus on his duties in the little time he has left in office. Moon voiced his concern during an interview with JTBC that aired Tuesday, saying he personally did not think it was "appropriate" to move the presidential office without thoroughly collecting the public's opinions

April 27, 2022

Outgoing politicians-turned-ministers likely to step down on May 9

Seven politician-turned-ministers in the outgoing Moon Jae-in administration are likely to step down on May 9, a day before incoming President Yoon Suk-yeol is inaugurated, a political source said Wednesday. The seven ministers, including Education Minister Yoo Eun-hae, Justice Minister Park Beom-kye and Interior Minister Jeon Hae-cheol, have agreed to resign on the day that Moon's term ends, according to the source. Four other ministers are Unification Minister Lee In-young, Environment Ministe

April 27, 2022

PM nominee confirmation hearing fails in boycott, parties negotiate to reschedule

The parliamentary confirmation hearing for Prime Minister nominee Han Duk-soo has been rescheduled to next week, after the hearing fell apart due to a boycott from the liberal bloc on Tuesday. On the second day of the two-day confirmation hearing, the special committee members for the hearing from the the Democratic Party of Korea and minor opposition Justice Party were absent, as they had been the day before, aside from their respective committee heads. As the event ended without proper vet

April 26, 2022

Talk of pardons for Samsung leader, former president rise as Moon’s term nears end

Two weeks before the end of his term, President Moon Jae-in is reported to be contemplating whether to pardon former President Lee Myung-bak and Samsung leader Lee Jae-yong amid growing calls from religious and business groups on the grounds of “national unity.” Moon said in his last meeting with Cheong Wa Dae reporters on Monday, “It is true that people from all walks of life are requesting for pardons,” adding, “I think the public’s support of consensus is

April 26, 2022

Democratic Party looking to arbitrarily pass prosecution reform bill

The Democratic Party of Korea is on track to pass the controversial prosecution reform bill as it originally proposed, after the bipartisan compromise it reached with the conservative bloc fell apart. Floor leaders of the Democratic Party and its main rival People Power Party met for a meeting with National Assembly Speaker Park Byeong-seug on Tuesday but parted ways without progress. The 70-minute meeting started at 10:30 a.m. Tuesday but was concluded without any update on how the bill will b

April 26, 2022

PM nominee's confirmation hearing ends without decision amid DP's boycott

Lawmakers from the ruling Democratic Party (DP) and the minor opposition Justice Party boycotted the confirmation hearing for Prime Minister nominee Han Duck-soo for the second day Tuesday, citing Han's failure to submit requested information. Although a legal deadline for the National Assembly to complete Han's confirmation hearing passed without a decision, the DP and the Justice Party asked the Assembly to reschedule a date for the hearing. Tuesday's hearing was adjourned about 30 minutes aft

April 26, 2022

Yoon's delegates meet Japanese prime minister in Tokyo

TOKYO -- A South Korean delegation sent by President-elect Yoon Suk-yeol had a meeting with Japanese Prime Minister Fumio Kishida on Tuesday, during which it appears to have delivered the incoming president's personal letter. The meeting was held at the prime minister's official residence in Tokyo, two days after the seven-member team, led by Rep. Chung Jin-suk of Yoon's conservative People Power Party, arrived here for "policy consultations" with Japanese officials ahead of the launch

April 26, 2022

Cabinet approves remainder of initial funds for presidential office relocation

The Cabinet on Tuesday approved the remaining 13.6 billion won ($10.9 million) in reserve government funds for President-elect Yoon Suk-yeol's plan to relocate the presidential office. The spending was approved about three weeks after the first 36 billion won was approved following the orders of outgoing President Moon Jae-in, who endorsed the plan after initially opposing it over concerns a hurried relocation could leave a "security vacuum." The new presidential office will be set up

April 26, 2022

Bus drivers' strikes averted in Seoul and other major cities

Nationwide strikes by unionized city bus drivers were withdrawn or postponed in last-minute negotiations held just hours before and after the deadline on Tuesday. In Seoul, Busan and three other regions, unions of bus drivers and their employers reached deals on wage hikes at the last minute prior to the suspension of city bus services. Unionized drivers in Gyeonggi Province, which surrounds Seoul, and the southeastern city of Daegu decided to postpone strikes slated to begin Tuesday or Wednesda

April 26, 2022

Yoon says will 'positively review joining' Quad if invited: report

President-elect Yoon Suk-yeol has said he will "positively review" South Korea's joining of Quad, a US-led anti-China security partnership, if invited, according to a report. Yoon made the remark in a recent interview with The Wall Street Journal on Monday (US time), saying he does not expect South Korea to receive an invitation any time soon, but if approached, "will positively review joining." The Quadrilateral Security Dialogue (Quad) is made up of the United States, Austr

April 26, 2022

Confirmation hearings off to a rough start with liberal boycott of PM nominee

The parliamentary confirmation hearings for President-elect Yoon Suk-yeol’s Cabinet picks got off to a rough start Monday, with rival parties boycotting the hearing for Prime Minister nominee Han Duck-soo, citing a lack of sufficient review materials. Han’s two-day confirmation hearing kicked off at 10 a.m. with only six lawmakers present of the 13 members that make up the special committee for personnel vetting at the National Assembly. Five were from the future ruling People Po

April 25, 2022

Tension rises over bipartisan compromise on prosecution bill

Controversy over the move to reduce the prosecution’s investigative authority continued Monday, with both the president and president-elect chiming in on the issue. President-elect Yoon Suk-yeol on Monday broke his silence over the controversial prosecution reform bill, asking the political community to “deeply reflect” on what is needed for the people, as the prosecution continues to vocally oppose the ruling party’s move to strip them of their investigative powers.

April 25, 2022

PM nominee's confirmation hearing off to rough start with opposition boycotts

The confirmation hearing for Prime Minister nominee Han Duck-soo got off to a rough start Monday after lawmakers from the ruling Democratic Party (DP) and the minor progressive Justice Party boycotted the hearing, accusing Han of failing to provide requested data. The hearing was adjourned less than an hour after it started with only members of the People Power Party in attendance. Before its adjournment, Rep. Kang Byung-won of the DP expressed his deep regret over Han's inadequate presentation

April 25, 2022

Seoul shares open steeply lower amid woes over Fed's rate hikes

South Korean stocks opened sharply lower Monday, as investors remained wary of a possible sharp rate hike by the US Federal Reserve in next week's policy meeting. The Korea Composite Stock Price Index (Kospi) fell 1.05 percent, or 28.51 points, to trade at 2,676.20 in the first 15 minutes of trading. Investors remain cautious as the Fed has signaled a more aggressive rate raise than previously estimated to tame the worst inflation in decades, with its next policy meeting set to take place M

April 25, 2022

Opposition party chief calls for reconsideration of prosecution reform bill

The chief of the main opposition People Power Party (PPP) said Sunday his party will reconsider a bipartisan proposal on prosecution reform to review flaws in the bills aimed at scrapping the prosecution's investigative powers. The ruling Democratic Party (DP) and the PPP on Friday agreed to pass the compromise legislation within this month, prompting Prosecutor General Kim Oh-soo and other several senior prosecutors to offer to resign in protest. PPP Chairman Lee Jun-seok said he shared d

April 24, 2022

At least 5 lawmaker seats up for grabs in June elections

A miniscule version of the parliamentary elections will be held in June on the sidelines of local elections, as incumbent legislators are to give up their lawmaker seats to run for local administration posts. At least five constituencies are to be up for grabs in the by-elections slated for June 1, and as many as 10 legislative seats are expected to be available for new figures to take over. The opening hints at the possible return of key heavyweights to the main stage and a change in political

April 24, 2022

Confirmation hearings for Yoon’s Cabinet picks to start this week

Parliamentary confirmation hearings for President-elect Yoon Suk-yeol’s Cabinet picks are to kick off Monday, with Prime Minister nominee Han Duck-soo taking the stand for a two-day hearing. The Democratic Party of Korea, which has vowed a tough vetting for all nominees, is likely to focus on Han’s career after he retired from the public sector. Prime minister is the only Cabinet post that requires parliamentary approval in South Korea. Han’s hearing is to be followed by tho

April 24, 2022