[Newsmaker] Will Kosdaq get boost from Seoul’s venture support?

Following the government’s recent announcement it plans to increase fiscal support for innovative startups and venture firms and revitalize second-tier markets, the Kosdaq has slowly rebounded, closing above the 700-marker last week for the first time in a year and two months. 　And will the nation’s tech-heavy stock market get a boost from the government’s venture support? Some experts gave a positive outlook.　According to industry experts, while stock buying is likely to slow

MarketNov. 5, 2017

[Newsmaker] NK sends warnings ahead of Trump’s visit to S. Korea

North Korea on Friday lambasted joint military exercises involving US B-1B Lancer bombers flying over the Korean Peninsula ahead of US President Donald Trump’s planned state visit here next week. US B-1B Lancer bombers (AP-Yonhap)Two US B-1B bombers flew from Andersen Air Force Base in Guam on Thursday to participate in a sequenced bilateral mission with South Korean and Japanese jets, the US Pacific Air Forces said in a statement. The exercise had been scheduled ahead of time and was “not in re

North KoreaNov. 3, 2017

[Newsmaker] Actor Kim Joo-hyuk laid to rest in Seosan

The funeral ceremony of actor Kim Joo-hyuk, who passed away in a car accident Monday, took place Thursday at the Asan Medical Center in southeastern Seoul. 　The private ceremony was held at 10 a.m. and was attended by Kim’s surviving family, close friends and staff at the actor’s longtime management agency Namoo Actors. A video clip featuring snippets of the late Kim was shown, according to reports.　The funeral procession took place at 11 a.m.　 Kim Joo-hyuk’s funeral procession takes place Thurs

PeopleNov. 2, 2017

[Newsmaker] Michelin Guide Seoul unveils Bib Gourmand Seoul 2018

Michelin Guide Seoul announced the recipients of the Seoul Bib Gourmand awards on Wednesday, a week ahead of the official launch of the full guidebook set to be released on Nov. 8. Bib Gourmand highlights restaurants offering “exceptionally good food at moderate prices.” The selected restaurants offer items priced below a specific price range determined by the local economic standards. The maximum price for the Bib Gourmand Seoul edition is 35,000 won ($31).The cover of The Michelin Guide Seoul

FoodNov. 1, 2017

[Newsmaker] Autopsy finds fatal head injury caused Kim Joo-hyuk’s death

An autopsy on actor Kim Joo-hyuk who passed away after a car crash Monday in Seoul, revealed that the actor died from a fatal head injury. Police and the National Forensic Service said Tuesday that the immediate cause of Kim‘s death was a head injury, serious enough to have instantly killed the actor. They added that there was no evidence of myocardial infarction, which was previously reported as a possible cause that led to the car accident. A more detailed autopsy result will become available

Social AffairsOct. 31, 2017

[Newsmaker] Cheong Wa Dae to reveal position on abortion

The presidential office said Monday that it will clarify its stance on abortion, which is illegal in Korea with few exceptions, after more than 200,000 people signed an online petition to decriminalize it. “As Cheong Wa Dae is supposed to give a reply when a petition is signed by more than 200,000 people, we will of course prepare (an answer),” an official from Cheong Wa Dae told reporters. The presidential office has made it a rule to make an official reply at a minister- or presidential secret

Social AffairsOct. 30, 2017

[Newsmaker] Debate continues over who owned tablet PC in Park scandal

A private tablet PC containing over 200 presidential documents was seen by many as the smoking gun that proved alleged outside interference in state affairs and led to President Park Geun-hye’s ouster. Choi Soon-sil is escorted to the courtroom at the Seoul Central District Court to attend her hearing on Oct. 19. YonhapPark’s confidante Choi Soon-sil was identified as its owner by JTBC, the TV network that had obtained the abandoned gadget. But a year after it was unearthed, questions still rema

Social AffairsOct. 29, 2017

[Newsmaker] Moon stresses push to unroot corruption, marking anniv. of protests that oust ex-president

Marking the first anniversary of mass protests that ousted his predecessor, President Moon Jae-in on Saturday highlighted his policy push to root out corruption, which, he said, would help revive the country's stagnant economic growth."Although there could be varying opinions on how, everybody can be like-minded when it comes to the cause to eradicate long-lived (social) evils," Moon said during his meeting with Korean businessmen from overseas."Bolstered by the might of the public who carried o

Social AffairsOct. 29, 2017

[Newsmaker] Fans, family remember rocker Shin Hae-chul on third anniversary of death

ANSEONG, Gyeonggi Province -- The late Shin Hae-chul was a spiritual father to many Koreans, healing hearts with songs like “Here I Stand for You,” which was dedicated to the people he loved. Friday marked the third anniversary of the legendary rocker‘s untimely death from medical complications, and people still mourning for him gathered to pay their respects.  The memorial service for Shin was held at Utopia Memorial Hall in Anseong, Gyeonggi Province, where Shin’s ashes are kept, attended by f

PerformanceOct. 27, 2017

[Newsmaker] SK hynix steps closer to record-high annual profit

With another record-breaking performance in the third quarter, South Korea’s second largest chipmaker SK hynix is stepping closer to witnessing the largest-ever annual profit of around 10 trillion won ($8.9 billion) this year. According to earnings announced Thursday, the chipmaking unit of SK Group, posted 8.1 trillion won in sales and 3.74 trillion won in operating profit during the July to September period. The third quarter revenue and operating profit climbed 21 percent and 23 percent from

TechnologyOct. 26, 2017

[Newsmaker] KCTU faces calls to return to three-way talks

Calls are growing for the nation’s second-biggest umbrella trade union to return to a long-halted social dialogue among the government, businesses and labor unions, after the largest umbrella union signaled its return to the negotiation table. The Federation of Korean Trade Unions hinted at its participation in the Tripartite Commission of Labor, Management and Government -- a three-way body made up of labor unions, employers and government -- during a dinner meeting with President Moon Jae-in a

Social AffairsOct. 25, 2017

[Newsmaker] Korean researchers develop blood test technology to predict Alzheimer’s

Researchers in South Korea have developed a new technology that can predict the onset of Alzheimer’s disease through a blood test before the physical symptoms start to show, paving the way for early diagnosis and treatment planning. 　　Alzheimer’s is a neurological disorder in which the death of brain cells causes memory loss and cognitive dementia. It is a progressive disease without a cure, and dementia symptoms worsen over time.　Scientists do not have a clear answer yet as to what causes Alzhe

TechnologyOct. 24, 2017

[Newsmaker] Excavation searching for victims of Gwangju movement to begin

A search for the remains of civilians killed during the 1980 Gwangju Democratization Movement is gaining momentum, with an excavation at a former prison site set to begin on Oct. 30.The May 18 Memorial Foundation announced Monday that the restricted area where the old Gwangju Prison was located will be excavated to search for the remains of those still unaccounted for after the uprising, which was crushed by the military junta of Chun Doo-hwan. The May 18 Memorial Foundation members announce the

PoliticsOct. 23, 2017

[Newsmaker] Ousted Park fights back

After former President Park Geun-hye called her corruption trial a “political retaliation,” thousands of Koreans took to the streets in central Seoul on Saturday demanding the ousted president be immediately released from jail. “Immediately release innocent President Park Geun-hye” and “Stop murderous political revenge right now!” they chanted, vehemently waving the Korean national flag. “President Park Geun-hye declared a political fight in prison. We should fight together to reveal the truth a

Social AffairsOct. 22, 2017

[Newsmaker] Ex-UFC heavyweight champ enjoys time in Korea, plans to come back next year

Former Ultimate Fighting Championship (UFC) heavyweight champion Cain Velasquez said Friday that he still isn't 100 percent fit enough to return to the octagon this year, although he expects to come back in the middle of next year. Velasquez said making a comeback isn't his priority at the moment, since his wife is pregnant. "She's going to deliver pretty soon, probably next month, and I want to focus on that," Velasquez said. "I want to experience the whole thing. I want to be there for my fami

More SportsOct. 20, 2017

[Newsmaker] Seniors growing as main customers for department stores

A department store chain in South Korea said its customers aged 70 and over led a significant growth in sales, indicating a rising trend of older generations picking up the offline retail business.According to department store AK Plaza on Thursday, senior citizens in their 70s showed an average of 15 percent annual growth in sales over the past three years, the largest in any age group.(123rf)“Department stores attract senior citizens in their 70s looking for a place to socialize, and many of th

IndustryOct. 19, 2017

[Newsmaker] Cheong Wa Dae rejects speculations about Constitutional Court chief

President Moon Jae-in on Wednesday nominated Gwangju High Court chief Yoo Nam-seok as a Constitutional Court justice. The announcement came just as Cheong Wa Dae denied reports that issues regarding the Constitutional Court president and the vacant justice position would be decided in tandem with the Constitutional Court Act revision pending at the National Assembly.  Constitutional Court in Seoul on Wednesday (Yonhap)“Yoo spent four years at the Constitutional Court working as a researcher of t

PoliticsOct. 18, 2017

[Newsmaker] NK sends congratulatory message for China's party congress

North Korea on Wednesday sent a short congratulatory message to China on the opening of the 19th congress of the communist party, in what could indicate strained ties over Pyongyang's nuclear and missile tests.The central committee of the ruling Workers' Party of Korea warmly congratulated the Communist Party of China's on its congress, according to the Korean Central News Agency."It sincerely wished the 19th Congress of the CPC satisfactory success," the report said.Earlier in the day, Chinese

North KoreaOct. 18, 2017

[Newsmaker] EU battery alliance may become threat to Korean firms

The European Union launching a battery alliance and European carmakers’ growing investment in battery plants may threaten Korea’s current technological lead in the global electric car battery market, industry watchers said. Last week, the European Commission launched the bloc’s battery alliance setting aside 2.2 billion euros ($2.6 billion) for the establishment of a full value chain of batteries in Europe. The commission invited European automakers, including Renault and Daimler, which are unde

IndustryOct. 17, 2017

[Newsmaker] Koreans win global prize for candlelight rallies

South Korean citizens, who took to the streets to protest against President Park Geun-hye for months and peacefully removed her from power, have received an internationally recognized award for their commitment to peace and democracy. 　Friedrich Ebert Stiftung, Germany’s oldest political foundation, decided to give this year’s Human Rights Award Prize to a total of 17 million people who participated in the candlelight rallies last year demanding former President Park resign over a corruption sca

Social AffairsOct. 16, 2017