[Newsmaker] South Korea may freeze nuke energy at 22-29%

Wolsung Nuclear Power PlantsThe nation will most likely freeze the portion of nuclear power in its total energy generation at between 22 to 29 percent by 2035, based on recent recommendations from a joint working group on the second phase of the national energy framework on Monday. Although not a binding directive, the group is considered to have sway in energy policy. Monday’s recommendations mark a sharp turn around from the previous Lee Myung-bak government in 2008 when another working group

IndustryOct. 14, 2013

[Newsmaker] Nobel Prize rewards watchdog’s perseverance

The winner of this year’s Nobel Peace Prize is a body that has spent years trying to rid the world of chemical weapons in relative obscurity and was recently thrust into the limelight by the Syrian crisis.From Russia to the U.S., Iraq and Libya, inspectors from the Hague-based Organization for the Prohibition of Chemical Weapons, or OPCW, have been slowly but surely destroying the world’s most dangerous chemical stockpiles.Syria last month signed up to the Chemical Weapons Convention, which the

World NewsOct. 13, 2013

[Newsmaker] New Fed nominee advocates low interest rates

The White House has nominated Janet Yellen as the first woman to head the United States Federal Reserve, arguably the most important job in global finance. But the decision will likely face stiff opposition by extreme conservatives in the U.S. Senate.If she is confirmed by the Senate, President Barack Obama will make history by tapping the first woman to head the American central bank in its 100-year history. That will surely make Senate Republicans even angrier.Current Fed Chairman Ben Bernanke

PoliticsOct. 10, 2013

[Newsmaker] Former GE man tapped to salvage troubled CJ

CJ Korea Express vice chairman Lee Chae-wook has been appointed chief executive of CJ Corp., the de facto holding firm of the embattled CJ Group.The conglomerate’s Oct. 8 personnel overhaul is drawing wide interest as the 67-year-old businessman joined CJ Group only six months ago when CJ LNS merged with Korea Express.According to market insiders, the appointment comes as an emergency measure after group chairman Lee Jay-hyun was arrested in July on charges of amassing slush funds and evading ta

Oct. 9, 2013

[Newsmaker] Elite school alumni dominate judiciary

A handful of elite high schools here produced more than 10 percent of the country’s judges, a new report showed Monday. Of 1,959 judges appointed from 2003-2013, about 11 percent or 227 judges were educated from five foreign language high schools in Seoul, according to Supreme Court data released by Rep. Kim Jin-tae of the Saenuri Party.Daewon Foreign Language High School in Gwangjin-gu produced by far the largest number of judges, with 97 graduates currently authorized for the court.Hanyoung Fo

Social AffairsOct. 7, 2013

[Newsmaker] Progressives anxious about Sohn’s next move

For the beleaguered Democratic Party, its senior adviser Sohn Hak-kyu has become one of only a handful of members that hold the key for its political countermove against its rivals.Since losing last year’s presidential election, the DP has concentrated much of its resources on gaining leverage on the ruling party.However, despite numerous opportunities, the DP has so far managed only to paint itself into increasingly tighter corners.The issues surrounding the 2007 inter-Korean summit transcript

PoliticsOct. 6, 2013

[Newsmaker] Saenuri picks Suh as by-election candidate

Internal conflict within the ruling Saenuri Party is escalating over its choice for a candidate in the upcoming parliamentary by-election. On Thursday evening, Saenuri picked Suh Chung-won, its former chairman and President Park Geun-hye’s longtime confidant, as the party’s candidate for the Oct. 30 election.The announcement came a day after the 70-year-old politician declared his candidacy bid “for the success of the Park Geun-hye government.”The return of the former six-term lawmaker, however,

PoliticsOct. 3, 2013

[Newsmaker] Hanyang dean ousted over admission fraud

Park Moon-il, the dean of Hanyang University’s College of Medicine, is to be removed from office for allegedly committing academic fraud to aid his son in entering the institution’s graduate school of medicine.According to the findings of Hanyang University’s audit board, Park listed his son as the lead author of an academic paper while removing the name of an obstetrician who took part in the research. Park is also an author for the paper in question. Park’s son, who was a student of mechanical

Social AffairsOct. 2, 2013

[Newsmaker] Record number seek Samsung jobs

The competition for jobs at Samsung companies in the second half of this year is expected to be the fiercest ever.The number of job seekers who applied for Samsung Group and its subsidiaries reached an all-time high during the regular recruiting session in the second half of this year, company officials said Tuesday. “We have some 100,000 applicants for 5,500 job vacancies although the exact number has not yet been calculated. (Because of the record-high number) we are having hard time securing

IndustryOct. 1, 2013

[Newsmaker] Mysterious investor key to SK case

Financial investor and shaman Kim Won-hong is adding a new twist to the convoluted SK Group embezzlement case. Kim, a former financial aide of SK Group chairman Chey Tae-won and adviser for SK Shipping Co., was arrested on Sunday for his alleged involvement in Chey’s misappropriation scheme. Chey and his younger brother Chey Jae-won are alleged to have embezzled 45 billion won ($42 million) from SK Group subsidiaries in 2008 as the companies were making a 100 billion won investment in Benex Inve

Social AffairsSept. 30, 2013

[Newsmaker] Chin’s ups & downs as Park’s key ally

When Chin Young, one of the closest allies of President Park Geun-hye and a passionate advocate of broader welfare, was appointed to head the Ministry of Health and Welfare in March, it was considered an indication of her government’s greater commitment to caring for the poor and underprivileged. Six months later the minister is seeking to step down in what is seen as a symbol of the Park administration’s retreat in welfare and return to a growth agenda amid budget woes and a lackluster economy.

PoliticsSept. 29, 2013

[Newsmaker] Writer captured the spirit of his time

Author Choe In-ho, a literary legend whose works have been made into numerous movies and TV drama series, died of cancer on Wednesday, about seven months after the publication of his latest collection of essays, “Choe In-ho’s Life.” He was 68.Born in 1945 in Seoul, Choe is one of the very few Korean authors who started their writing careers as a teenager, along with Hwang Sok-yong. He made his literary debut at age 18, while attending Seoul High School, by winning a writing competition hosted by

BooksSept. 26, 2013

[Newsmaker] Pantech "legend" quits troubled firm

Park Byeong-yeop, founder and vice chairman of Korea’s third-largest mobile device maker Pantech Corp., decided to leave the firm to take responsibility for sluggish business.He is the latest casualty among a list of so-called legendary businessmen after Woongjin Group founder Yoon Seok-keum and STX Group founder Kang Duk-soo, who had once garnered respect from office workers for their dramatic success stories.Starting his career as a salesperson at telecommunications device maker Maxon Electron

IndustrySept. 25, 2013

[Newsmaker] Tong Yang Group in crisis

Embattled Tong Yang Group is suffering through a liquidity crisis as creditors and its sister group refused to help the country’s 38th-largest conglomerate. Its condition is showing signs of improvement as the group founder‘s wife is determined to save her oldest daughter, who is the vice chairwoman of the group, after her younger daughter rejected the rescue request. But it remains yet to be seen whether the conglomerate will be able to tide over financial squeeze. The situation involves family

Sept. 24, 2013

[Newsmaker] Merkel cements EU position

German Chancellor Angela Merkel cemented her position as Europe’s de facto leader on Sunday by cruising to election victory for a third term in office.Having presided over a robust economy in a region of sick-man peers, the center-right Christian Democratic Union and its sister Christian Social Union of Bavaria won more than 40 percent of the national vote, bringing Merkel to within five seats of a tantalizingly rare parliamentary majority. Merkel’s political standing, already unmatched among he

Foreign AffairsSept. 23, 2013

[Newsmaker] ‘Time is not on our side’

Thousands of families were torn apart at the end of the Korean War (1950-1953) and their pain persists as the remaining members anxiously write the final chapters of their lives, still hoping to see their loved ones again. Of the 129,035 people originally registered in South Korea’s separated-family database since August 1988, 56,544 have passed away while most of the surviving 72,491 are in their 70s, 80s or 90s.The two Koreas have held 18 family reunions for the survivors since 2000, enabling

North KoreaSept. 22, 2013

[Newsmaker] Ex-P.M. defiant after bribery conviction

Han Myeong-sook, former prime minister and ex-leader of the main opposition party, faces another long legal battle over bribery accusations which have dealt blow to her political career and reputation as an pro-democracy activist against the military-backed governments in the 1970s and 80s.A Seoul appellate court on Monday sentenced Han to two years in prison for bribery, overturning a lower court’s ruling that cleared her of the charge. Han was found guilty of receiving 880 million won in polit

PoliticsSept. 17, 2013

[Newsmaker] Korea OKs ‘invisible’ skyscraper plan

From cloaked alien tanks and jets in the computer game “Starcraft” to a transparent flying fortress in the movie “Avengers,” invisible structures have always been considered a product of imaginary science, whose rightful place is within the boundaries of fiction.That is until South Korea recently authorized the construction of “Tower Infinity,” a 450-meter-high skyscraper which is to use high-tech projectors to make it appear as if the building is not really there. The glass tower, backed by the

IndustrySept. 16, 2013

[Newsmaker] Prosecution in disarray over Chae’s resignation

Resistance among prosecutors is rising upon the resignation of prosecutor general Chae Dong-wook last week over a personal rumor, as speculation prevailed that it was the result of pressure from Cheong Wa Dae.A day after Chae offered to step down Friday, Kim Yoon-sang, director of the first inspection division of the Supreme Prosecutors’ Office, offered to resign, criticizing the ministry’s “unjust” pressure.Chae said he was unable to carry on his duties after Justice Minister Hwang Kyo-an order

PoliticsSept. 15, 2013

[Newsmaker] KEPCO to restart power-line project soon

The Korea Electric Power Corp. is set to resume its stalled power-line project in Miryang, South Gyeongsang Province, after next week’s Chuseok holidays despite continued resistance from some residents. On Wednesday, Prime Minister Chung Hong-won visited the county saying that resumption was an “unavoidable choice” and announced a revised 18.5 billion won ($17 million) compensation plan. The compensation package also includes plans to build the country’s largest solar power generation facility i

Social AffairsSept. 12, 2013