[Newsmaker] War plan upgrade reflects NK WMD threats

 The new wartime contingency plan of South Korea and the U.S. is presumed to address the growing concerns over North Korea’s evolving weapons of mass destruction and likely to reflect changes in the U.S. force structure and strategy, analysts said Thursday.North Korea soldiers pledge allegiance in front of the statues of North Korea’s national founder Kim Il-sung and former leader Kim Jong-il on Tuesday. (Yonhap)Seoul and Washington reportedly signed the so-called Operations Plan 5015 in June to

DefenseAug. 27, 2015

[Newsmaker] POSCO leads change in labor relations

 The much disputed peak wage system may be gaining more momentum with the steelmaker POSCO and its union agreeing to expand its use. Although the system is intended to increase corporations’ capacity for hiring young workers, it has been heavily criticized by labor activists. POSCO, however, has managed to run the system since 2011. On Wednesday, the country’s largest steelmaker announced that the retirement age would be raised by two years to 60, with the scope of the peak wage system expanded.

IndustryAug. 26, 2015

[Newsmaker] Loudspeakers mightier than the sword

Though it came to a close just 15 days after breaking an 11-year hiatus, South Korea’s loudspeaker broadcast along the heavily fortified border proved to be formidable enough to rush a defiant Kim Jong-un regime to the negotiating table and extract concessions. The equipment became idle as of noon Tuesday in line with the two Koreas’ agreement earlier in the day. Pyongyang, for its part, expressed regret over a land mine explosion on Aug. 4 that nearly maimed the legs of two South Korean soldier

North KoreaAug. 25, 2015

[Newsmaker] Hawk-dove duos at inter-Korean dialogue

As the high-level inter-Korean dialogue dragged on, hopes and doubts were flying around the seemingly incongruous duos from each side driving the rare gathering: rigid former and incumbent military commanders paired with preachers for a cross-border thaw. From the North, Hwang Pyong-so, vice chairman of the powerful National Defense Commission and director of the General Political Bureau of the (North) Korean People’s Army, joined hands with Kim Yang-gon, director of the North’s United Front Dep

North KoreaAug. 24, 2015

[Newsmaker] Biden meets Warren as he mulls 2016 bid

Vice President Joe Biden left the seclusion of the Delaware home where he’s been weighing a presidential run to meet Saturday with Elizabeth Warren ― another influential Democrat who has faced calls to enter the 2016 race.The unusual weekend huddle with Warren, a Massachusetts senator, took place at the Naval Observatory, the vice president’s official residence, said an individual familiar with the meeting. An Obama administration official said Biden had traveled at the last minute to Washington

World NewsAug. 23, 2015

[Newsmaker] Samsung Pay shakes up mobile wallet race

Samsung Electronics’ new mobile payments system Samsung Pay made its Korean debut on Thursday, aiming to replace credit cards with mobile phones. Starting with the Korean service, Samsung Pay will be released in the U.S. on Sept. 28 after a monthlong beta service. Launches in other markets are set to come in phases. A customer pays with Samsung Pay at a grocery. Samsung ElectronicsKey to the service is its compatibility with existing credit card terminals, as it creates a small magnetic field th

TechnologyAug. 20, 2015

[Newsmaker] Two lawmakers face uproar over kids' employment favors

A number of lawmakers are facing increasing pressure on allegations that they influenced sought-after workplaces to hire their children.Rep. Kim Tae-won of the ruling Saenuri Party and Rep. Yoon Hu-duk of the main opposition New Politics Alliance for Democracy came under fire for allegedly using their parliamentary clout to give their kids job opportunities at Korean Government Legal Service and the nation’s top display-maker LG Display, respectively　Despite their plea of innocence and attempt t

PoliticsAug. 19, 2015

[Newsmaker] SK chairman catches up on creative economy boost

SK Group chairman Chey Tae-won cheered on staffers by visiting the group’s provincial-based innovation centers Tuesday, in line with his stated promise to lend a hand in reviving the South Korean economy and support the government’s ongoing drive for a creative economy.　Chey made his way down to the two SK innovation centers in Daejeon and Sejong, located south of Seoul, in a bid to “express the group’s will to contribute to the country’s economic growth through the success of its creative econo

IndustryAug. 18, 2015

[Newsmaker] Chung Mong-joon in bid to clean up FIFA

Corruption, scandal, money laundering, internal strife, fraud, power and FBI investigations – the recent allegations surrounding FIFA have all the elements of a Hollywood movie.Chung Mong-joon (Yonhap)Oscar winner, producer and actor Ben Affleck, who is soon to be the next Batman, will produce a movie about FIFA’s alleged misdeeds over the last 20 years, recently involving the bidding processes for the Russia 2018 and Qatar 2022 World Cups. The star of this drama may play Charles “Chuck” Blazer,

SoccerAug. 17, 2015

[Newsmaker] Park likely to improve ties with Japan

 President Park Geun-hye on Saturday made a moderate response to Japanese Prime Minister Shinzo Abe’s statement Friday to mark the 70th anniversary of the end of World War II, signaling her intention to enhance relations with Tokyo.President Park Geun-hye delivers a speech to mark the 70th anniversary of Korea`s liberation from Japan`s colonial rule on Saturday in Seoul. (Yonhap)In her Liberation Day speech, she said the much-anticipated statement “did not quite live up to Koreans’ expectations.

PoliticsAug. 16, 2015

[Newsmaker] New momentum has KAI flying high

Korea Aerospace Industries is flying high. The country’s sole aircraft manufacturer is enjoying its best ever year, with solid first-half earnings and its share price up 150 percent since January, and analysts forecast a positive outlook for the second half. This is the result of a profit increase in the firm’s exports of military planes, production of aircraft components and winning of various defense deals, which are the three pillars of the company’s revenue sources, analysts said Wednesday.

IndustryAug. 13, 2015

[Newsmaker] Google turns a page with Alphabet

The surprise reorganization of Google under newly formed parent Alphabet gives the tech giant the ability to focus on its core business, while offering startup-like flexibility to its other projects.The announcement Monday of the new corporate structure was generally welcomed in Silicon Valley and on Wall Street, where Google shares shot up some 3.6 percent in early trade on the news.The plan calls for Alphabet to be the corporate parent, with an operating unit for Google and its related search

World BusinessAug. 12, 2015

[Newsmaker] Daum Kakao bets on mobile biz with young CEO

Daum Kakao, the Korean Internet giant, is betting big on a new CEO who may be less experienced but full of enterprise for its next big leap in the burgeoning mobile era. The company said Monday it has named 35-year-old Rim Ji-hoon, founder of venture capital firm K Cube Ventures, to replace the current co-CEOs Choi Sae-hoon, 48, and Lee Sir-goo, 49. Daum Kakao’s new CEO nominee Rim Ji-hoonAlthough the average age of the employees at Daum Kakao is 34, a 30-something CEO is quite rare even within

TechnologyAug. 11, 2015

[Newsmaker] Loss-laden DSME struggles to survive

The money-losing Daewoo Shipbuilding and Marine Engineering, the world’s biggest shipbuilder by order backlog, is desperately struggling to survive in the industry. The industry‘s continued slowdown and the shipbuilder’s record 3.07 trillion won ($2.65 billion) shortfall in its second-quarter operating profit for this year have spawned speculations that DSME is readying a full-fledged restructuring process.While the DSME management had refuted rumors about an imminent workforce cut, tension is r

IndustryAug. 10, 2015

[Newsmaker] Nagasaki marks 70th anniversary of bombing

Japan on Sunday marked the 70th anniversary of the atomic bombing of Nagasaki that claimed more than 74,000 lives almost instantly, in one of the final chapters of World War II.Bells tolled and tens of thousands of people, including ageing survivors and the relatives of victims, observed a minute’s silence at 11:02 a.m., the exact moment the blast devastated the port city on Aug. 9, 1945. Japanese Prime Minister Shinzo Abe holds a wreath during a ceremony to mark the 70th anniversary of the Naga

World NewsAug. 9, 2015

[Newsmaker] Lotte feud ignites nationality dispute

“Lotte is a Korean company.”These words of Seoul-based Lotte Group chairman Shin Dong-bin may be simple enough, but the conglomerate’s nationality is fast becoming an issue of contention.The controversy over whether Lotte is a Korean or Japanese company flared up again this week amid a bitter succession battle involving the two sons of group founder and general chairman Shin Kyuk-ho.Lotte, having foundations in both Korea and Japan, has long been plagued by this question. The two sons -- Shin Do

IndustryAug. 6, 2015

[Newsmaker] Park's sister raises stir over Japan ties

Just as President Park Geun-hye struggles to improve the country’s relations with Japan, an unlikely figure has catapulted herself to the center of controversy by criticizing Seoul for dragging out the sex slavery rows: her younger sister, Geun-ryeong. In an interview with Japan’s video-sharing website Niconico, the 61-year-old Park Geun-ryeong said she was sorry that in most news reports South Korea blames Japan for the ongoing toil of the so-called comfort women “without itself taking greater

PoliticsAug. 5, 2015

[Newsmaker] Obama declares climate change ‘toughest’ challenge of our time

President Barack Obama framed climate change as the toughest and most pressing challenge of our time Monday, as he unveiled the first ever limits on U.S. power plant emissions.“No challenge poses a greater threat to our future and future generations than a change in climate,” Obama said, warning: “There is such a thing as being too late.” U.S President Barack Obama speaks at a town hall at the Young African Leaders Initiative (YALI) Mandela Washington Fellowship Presidential Summit in Washington

World NewsAug. 4, 2015

[Newsmaker] Park In-bee wins British Open for seventh major

As Park In-bee hunted down Ko Jin-young in the final stretch of the Women‘s British Open, it quickly became clear which South Korean was the rookie and which was the player about to add another chapter in golf’s record book. Park In-bee of South Korea poses with the trophy after winning the Women‘s British Open golf championship at the Turnberry golf course in Turnberry, Scotland, Sunday. AP-YonhapThe top-ranked Park picked up seven shots in her last 12 holes, pressured her 20-year-old protege s

GolfAug. 3, 2015

[Newsmaker] Pacific trade talks fail to clinch TPP deal

WASHINGTON ― Delegates negotiating a vast Pacific free-trade agreement have failed to reach a final deal after several days of intense talks in Hawaii, dealing a setback to U.S. President Barack Obama.The delay complicates his efforts this year to secure the historic accord, which risks becoming dragged into the 2016 presidential election debate.Ministers from 12 nations negotiating a Pacific Rim trade pact hold a news conference in Lahaina, Hawaii, Friday, saying they made significant progress

World NewsAug. 2, 2015