[Newsmaker] Obama submits record budget for fiscal 2016

U.S. President Barack Obama delivers remarks on his proposal for budget for fiscal 2016 at the Department of Homeland Security in Washington D.C., Monday. (Xinhua-Yonhap)WASHINGTON (AP) -- President Barack Obama set up another clash with Republicans by sending Congress a $4 trillion budget that seeks to raise taxes on wealthier Americans and corporations and increase domestic spending.    In a message accompanying the massive budget books on Monday, Obama said his proposals are "practical, not

World NewsFeb. 3, 2015

[Newsmaker] Hostage crisis poses test for pacifist Japan

TOKYO (AFP) ― The apparent beheading of two Japanese hostages by Islamic State militants poses a stark diplomatic test for pacifist Japan, underscoring how Tokyo’s image as a benign aid donor offers no immunity from violence, analysts say.Tokyo has long avoided getting embroiled in tinderbox conflicts across the Middle East and is rarely the target of religious extremism, something many ordinary Japanese see as a faraway problem.But the dangers came into focus after IS militants on Saturday post

World NewsFeb. 2, 2015

[Newsmaker] Stielike praised for success in Asian Cup

 SYDNEY  ― Uli Stielike coached his first match for South Korea last October, barely three months before the start of the AFC Asian Cup. He would coach only four more friendly matches before the continental tournament kicked off in Australia in early January, and the general expectation was that there wouldn’t be enough time for him to do much with South Korea at the Asian Cup.South Korean coach Uli Stielike. (Yonhap)Yet the German-born coach took South Korea to the final against steep odds. Tho

More SportsFeb. 1, 2015

[Newsmaker] N.K. demanded cash for summit: Lee memoir

Former President Lee Myung-bak has revealed a series of sensitive foreign policy dealings, including the failed negotiations over an inter-Korean summit, during his term in his memoir obtained by the media ahead of its publication next Monday.In the 800-page memoir, entitled “The President’s Time 2008-2013,” he includes details about his administration’s diplomacy with Pyongyang, Beijing, Washington and Tokyo, and defends his much-criticized resource diplomacy.As for the North’s proposal for an

North KoreaJan. 29, 2015

[Newsmaker] Nexon starts battle for control of NCSoft

A battle has begun for control of NCSoft, the nation’s second-biggest game developer, as Nexon, its largest shareholder, has officially vowed to participate in its management. Nexon, the largest online game firm in South Korea, said Tuesday that it would shift from merely investing in NCSoft, the runner-up in the domestic market, to taking part in its management.“The company made the decision since it has found it difficult to swiftly respond to the rapidly changing IT industry with the previous

TechnologyJan. 28, 2015

[Newsmaker] Kim faces tough choice over overseas trips

North Korean leader Kim Jong-un is facing a tough diplomatic decision over when and where to make his international stage debut ahead of a series of foreign events this year, including Russia’s 70th anniversary celebration of the victory in World War II.The decision calls for Pyongyang’s careful calibration of strategic interests amid diplomatic estrangement from China, Russia’s engagement with the North, the U.S.’ harsh criticism of its cyberattacks and military threats, and an impasse in inter

North KoreaJan. 27, 2015

[Newsmaker] Greek ‘Che Guevara’ on brink of power

ATHENS ― Alexis Tsipras, whose Syriza party won the Greek general election for the first time in its history on Sunday, is set to become the country’s first radical left-wing prime minister, and the youngest in over 150 years.He brings to the job a burning passion to dump the austerity policies that his party says have brought a “humanitarian crisis” to Greece.“Greece is turning a page, leaving behind disastrous austerity ... and 5 years of humiliation,” Tsipras told a jubilant crowd of supporte

World NewsJan. 26, 2015

[Newsmaker] Saenuri bigwig gears up to become PM

Prime minister nominee Lee Wan-koo on Sunday kicked off preparations for his confirmation hearing at the parliament, after President Park Geun-hye nominated him to become her top deputy last week. Among the issues expected to be discussed at the hearing are allegations concerning Lee and his son’s military duty exemptions, a crime committed by his brother and questions about a piece of land Lee gave his son in 2011. Shortly after his nomination on Friday, local media accused his son of wrongful

PoliticsJan. 25, 2015

[Newsmaker] Japan agonizes over ways to free IS hostages

TOKYO -- Lacking strong clout and diplomatic reach in the Middle East, Japan scrambled Thursday for ways to secure the release of two hostages held by the Islamic State group, as two people with contacts there offered to try to negotiate.The militants threatened in a video message to kill the hostages within 72 hours unless they receive $200 million. Based on the video's release time, that deadline would expire sometime Friday.Government spokesman Yoshihide Suga said Thursday that Japan was tryi

World NewsJan. 22, 2015

[Newsmaker] Obama chooses income equality for next fight

WASHINGTON ― U.S. President Barack Obama can claim credit for bringing the economy back from the edge of catastrophe. But on Tuesday he turned his focus to a glaring failure of the recovery: While the wealthy are now wealthier than ever, the average American has not seen any rebound in his wages since the 2008 crisis.In his annual State of the Union address, Obama vowed to take on rising income equality, two months after frustrated voters dealt his Democratic Party a resounding defeat in Congres

World NewsJan. 21, 2015

[Newsmaker] Hebdo, Iraq to dominate Davos agenda

PARIS ― The deadly Islamist attacks in France and conflicts in Iraq and Ukraine are set to dominate discussions at this week’s gathering of the world’s political and economic elite in the Swiss ski resort of Davos.French President Francois Hollande, Belgian Prime Minister Charles Michel and German Chancellor Angela Merkel will be among the 2,500 prominent figures attending the World Economic Forum’s annual meeting opening Tuesday, with all eyes on their countries’ battle to root out jihadists pl

World NewsJan. 20, 2015

[Newsmaker] Is Lee coming to fore in Samsung empire?

When it was reported that Lee Jay-yong would host an annual meeting of top and new executives of Samsung affiliates, market analysts viewed it as a signal that he was coming to the fore on behalf of his sick father Lee Kun-hee.According to some news reports, the Samsung heir, currently vice chairman of the group’s flagship affiliate Samsung Electronics, has already received New Year management policies from top leaders of Samsung companies.Samsung heir Lee Jay-yong arrives at Hotel Shilla to att

IndustryJan. 19, 2015

[Newsmaker] Almost half French oppose Mohammed cartoons

PARIS - Almost half of French oppose publication of cartoons depicting Islam's Prophet Mohammed, according to a poll Sunday, as global debate deepened on the limits of free speech in the wake of the Charlie Hebdo killings. The Ifop poll found 42 percent believe Mohammed cartoons seen as offensive by many Muslims should not be published. Fifty percent said they backed "limitations on free speech online and on social networks." However, 57 percent said opposition from Muslims should not prevent th

World NewsJan. 18, 2015

[Newsmaker] Blue House, Saenuri on thin ice over scandal

Tension mounted between Cheong Wa Dae and the ruling Saenuri Party on Thursday over a remark made by a presidential staff member alleging that party chief Kim Moo-sung secretly set off a recent political scandal involving rival groups of aides to President Park Geun-hye.The presidential office said in the afternoon that it dismissed Eum Jong-hwan, a public relations officer, the day after he offered to resign to take responsibility for causing public concern. The move was seen as Cheong Wa Dae’s

PoliticsJan. 15, 2015

[Newsmaker] Has Shin Dong-bin won Lotte succession race?

Lotte Group Korea chairman Shin Dong-bin has virtually become the crown prince of Lotte’s 92 trillion won ($90 billion) empire, which stretches from Asia to the U.S.But even with Lotte founder Shin Kyuk-ho’s temporary favor, his older brother’s presence will likely push the 59-year-old chairman to prove his management aptitude in order to impress his 93-year-old father, who is known to mix business affairs with succession plans.On Tuesday, chairman Shin met with Korean reporters at Gimpo Interna

IndustryJan. 14, 2015

[Newsmaker] Hyundai Motor family share sale plan fails

Hyundai Motor chairman Chung Mong-koo and his son’s bid to sell some of their stakes in their business empire has failed. But this will not hinder the Chung family’s attempt to accelerate a father-to-son management transfer inside the world’s fifth-largest automaker, observers said. On Monday, Chung and his son Eui-sun, who is also the vice chairman of the nation’s top automaker, reportedly sent a notice to institutional investors that they plan to sell a combined 13.4 percent of the logistics f

IndustryJan. 13, 2015

[Newsmaker] Labor abuse scandal rocks WeMakePrice

The past two weeks have been a rollercoaster ride for WeMakePrice, the country’s leading domestic deal-of-the-day online site. The country’s most-visited social commerce website operator was at the peak of its business earlier this year, eyeing the acquisition of a local competitor and labeling global retail juggernauts Alibaba and Amazon market competitors, but soon fell to the very bottom after facing a state crackdown for business malpractice. The Ministry of Employment and Labor on Monday sa

IndustryJan. 12, 2015

[Newsmaker] Assembly to vote on anticorruption bill

The National Assembly is set to enact what will be the nation’s toughest-ever law against corruption, which has been held back by political bickering and vested interests for nearly four years. The so-called Kim Young-ran bill was passed by a parliamentary subcommittee last week and is expected to be put to a final vote at a plenary session next month. Under the new law, which will take effect in January 2016, public servants and their families will be punished when they receive 1 million won ($

PoliticsJan. 11, 2015

[Newsmaker] Underdog challenges bigwigs in NPAD race

An underdog politician running in the main opposition’s chairmanship election next month could be the long-term solution for the party’s persistent factionalist problems even if he loses, analysts and party insiders said Thursday.Rep. Lee In-young of the New Politics Alliance for Democracy will challenge the favorites Reps. Moon Jae-in and Park Jie-won in the in-house chair election on Feb. 8. But Lee may play the role of spoiler as votes from the two-term lawmaker’s main political support base

PoliticsJan. 8, 2015

[Newsmaker] Old guard competes for opposition helm

One of the two political heavyweights running in the main opposition party’s chairmanship election early next month will likely win, but neither are fit to resolve the party’s persistent infighting, a cause of the party’s recent decline, experts said.Reps. Moon Jae-in and Park Jie-won are strong contenders for the New Politics Alliance for Democracy’s chairmanship, to be determined through a vote by party officials on Feb. 8. The new leader will oversee the party in the 2016 general election and

PoliticsJan. 7, 2015