Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Foreigners also subjected to new antigraft rules from Sept. 28
[THE INVESTOR] Foreign nationals working in South Korea will also be subjected to the new antigraft laws, the Anti-Corruption and Civil Rights Commission said on July 22. The new law, which will take effect on Sept. 28, prohibits journalists, teachers, civil servants and others in position to exert influence in their professional capacities from receiving gifts and meals over a certain value. 123rfThe cost of a meal per person is set at 30,000 won (US$ 26), the value of gifts at 50,000 won, and
July 22, 2016
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Korea’s Supreme Court dismisses suit filed by ex-KEB shareholders against Lone Star
[THE INVESTOR] A lawsuit filed by minority shareholders of KEB Hana Bank against Lone Star Funds was dismissed by South Korea’s highest court. A group of shareholders including a former lawmaker and bank union leader had filed a suit to cancel dividend payouts worth 280 billion won (US$244.97 million) made out to the US private equity fund. In 2011, Lone Star pocketed the dividends from its 51 percent stake in Korea Exchange Bank. The amount was decided at a shareholders meeting in March that ye
July 22, 2016
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State-run banks to receive W1.4tr injection
[THE INVESTOR] The government will inject 1.4 trillion won (US$1.23 billion) into state-run banks closely involved in shipbuilding and shipping industries’ restructuring. According to the supplementary budget plans approved by the Cabinet on July 22, the Korea Development Bank will see injection of 400 billion won, and the Export-Import Bank of Korea will get 1 trillion won. The government estimates that state-run banks, including KEXIM and KDB, need to secure as much as 8 trillion won for the o
July 22, 2016
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Main opposition links supplementary budget bill to free child care
[THE INVESTOR] The main opposition Minjoo Party of Korea on July 22 said that it will oppose the supplementary budget bill without a solution for subsidizing a free child care program. “(The party) has requested the government to provide answers regarding how the Nuri Program budget will be included next year,” Rep. Park Wan-joo, the deputy floor leader of Minjoo Party, said. The Nuri Program is a free child care program for children aged between three and five. “An agreement on this (Nuri Progr
July 22, 2016
