[Newsmaker] Kolon TissueGene at brink of delisting, W489.6b at risk of vaporizing

Shares of Kolon Group affiliates took a dip Tuesday, following the Korea Exchange’s announcement that it has tentatively to delist Kolon TissueGene.　Kolon TissueGene, which had traded at 75,000 won ($62) at its peak, stands at 8,010 won per share, with trading halted and not taking place Tuesday. Kolon LifeScience, the umbrella company of TissueGene, closed at 21.82 percent lower than the previous day at 17,200 won. Kolon fell 5.41 percent.　The Korea Exchange (KRX) made the decision the pr

IndustryAug. 26, 2019

[Newsmaker] Samsung on high alert ahead of Supreme Court ruling in bribery case against Lee

Amid the harsh trade and market conditions surrounding South Korea’s largest conglomerate, Samsung Electronics, the company is on high alert as the country’s highest court is set to rule this week on a bribery scandal involving Samsung’s heir and the former president. The Supreme Court is scheduled to deliver a final verdict Thursday at 2 p.m. in the cases of former President Park Geun-hye, her confidante Choi Soon-sil and Samsung heir Lee Jae-yong. The top court will decide wh

TechnologyAug. 26, 2019

[Newsmaker] S. Korea wraps up expanded military drills for Dokdo

South Korea wrapped up a military exercise on and around its easternmost islets of Dokdo in the East Sea on Monday after conducting the biannual maneuvers on the largest-ever scale amid an escalating row with Japan.The two-day exercise, the first of this year's two regular drills, involved all three services of the armed forces as well as the Marine Corps and the Coast Guard in a show of Seoul's determination not to back down in the row with Japan over wartime history and trade.The number of tro

DefenseAug. 26, 2019

[Newsmaker] S. Korea launches Dokdo defense drill amid tension with Japan

The South Korean armed forces launched a two-day military exercise to defend the easternmost islets of Dokdo on Sunday amid growing tensions over trade and their shared history, in a show of its staunch defense stance against Japan's repeated claims to sovereignty over the cluster of rocks in the East Sea.The Navy announced that the drill involves Navy, Air Force and Army forces, such as naval warships and aircraft, as well as Army and Marine Corp troops."Indeed, it's an exercise to guard o

DefenseAug. 25, 2019

[Newsmaker] Police launch probe as video shows man allegedly beating Japanese woman on street

Police have launched a probe after a video and photos of a South Korean man allegedly threatening and beating a Japanese woman went viral on social media, they said Saturday."We have found the victim and the suspect in the alleged assault case, which occurred the previous day and contacted them," an official at Seoul Mapo Police Station said. "We will call them in later in the day and investigate the details of the incident."  In the video that went viral online, the man

Social AffairsAug. 24, 2019

[Newsmaker] Cho Kuk admits to ‘privileges,’ promises to hand over family-owned fund for charity

Justice Minister nominee Cho Kuk said Friday afternoon he would hand over a private equity fund and a school foundation to a nonprofit organization to be used for charity, in response to an opposition demand for an extended confirmation hearing.Earlier in the day, the main opposition Liberty Korea Party demanded a three-day confirmation hearing for scandal-ridden Cho, instead of the usual one-day hearing, in light of controversy surrounding Cho.  Liberty Korea Party Floor Leader Rep. Na Kyu

PoliticsAug. 23, 2019

[Newsmaker] Facebook wins court battle over network cutoff

　Facebook Korea has won a yearlong legal battle against the government’s decision to impose a financial penalty for a massive network cutoff in 2017.　The Seoul Administrative Court ruled Thursday that it was unlawful for the Korea Communication Commission to impose a 396 million won ($367,000) fine on Facebook for delaying access for those subscribed to SK Telecom, SK Broadband and LG Uplus by changing network connection routes.  　Facebook had denied the accusation, saying that the te

TechnologyAug. 22, 2019

[Newsmaker] Murder suspect shows no remorse as face revealed

The man who claimed to have murdered and dismembered a motel guest before dumping it in the Han River, said Wednesday he was not sorry to the victim at all, as he appeared for police questioning on the day his face and identity were made public. 　Jang Dae-ho, 38, who is suspected of murdering, dismembering and abandoning the victim’s body, said, “It is an incident in which a heinous criminal killed a scumbag, which means a bad guy killed a bad guy.”　“No matter how I think

Social AffairsAug. 21, 2019

[Newsmaker] Corruption allegations have Cho Kuk in a corner

Justice Minister nominee Cho Kuk is in a corner over mounting corruption allegations involving his family ahead of his confirmation hearing, which hasn’t even been scheduled yet.The main opposition Liberty Korea Party filed a complaint against the former senior presidential secretary and his family on Monday over what the party called questionable investments in a private equity fund.The latest of the allegations involves Cho’s 28-year-old daughter, who received scholarships to atten

PoliticsAug. 20, 2019

[Newsmaker] Liberty Korea Party confirms nationwide rally despite criticism

Liberty Korea Party Chairman Hwang Kyo-ahn on Monday reaffirmed his plans to “stand against the left-leaning tyranny” of the Moon Jae-min government by staging a nationwide rally this weekend, widely seen as a move to shore up the main opposition party’s dwindling approval ratings. “In launching an all-out protest we will stand against the left-leaning tyranny of the Moon administration,” he said at a top-level party meeting.“Starting with the rally on the Aug

PoliticsAug. 19, 2019

[Newsmaker] Panel confirms widespread use of humidifier disinfectants in military

Humidifier disinfectants, suspected to have been a cause for at least dozens of deaths, were widely used in military barracks and hospitals in the early 2000s, a state-funded agency revealed Monday, raising speculation that a large number of service members could have been exposed to the chemicals.The Special Commission on Social Disaster Investigation said it has confirmed 12 institutions affiliated with the Army, Navy, Air Force and units under the defense ministry had purchased more than 800

DefenseAug. 19, 2019

[Newsmaker] Suspect in case of dismembered male torso on Han River turns himself in

Authorities have arrested a 39-year-old motel employee suspected of killing a man whose dismembered torso was found in Han River on Aug. 12.An arrest warrant was granted after a hearing for the suspect was held at the Uijeongbu District Court at 4 p.m. on Sunday, Goyang Police said.The man turned himself in to Jongno Police Station at around 1 a.m. Saturday, five days after the dismembered torso was found.At 9:15 p.m. Aug. 12, police on patrol found a bare torso without a head and limbs floating

Social AffairsAug. 18, 2019

[Newsmaker] Public fury grows over Jeju road rage

A video in which a driver assaulted another driver who had been complaining about the former’s aggressive driving, went viral Friday, sparking public outrage and calls for punishment for the violent driver. In the video, a van continued to change lanes on a road on Jeju Island at around 10:40 a.m. on July 4. When another motorist protested about his reckless driving, the 30-something van driver left his vehicle to assault the motorist. The van driver was seen taking away a mobile phone of

Social AffairsAug. 16, 2019

[Newsmaker] Controversy brews over Cho Kuk’s ties to socialist group

Cho Kuk, former senior presidential secretary for civil affairs, sought to fend off criticism over his involvement in the South Korean Socialist Workers’ Alliance in 1991, saying it had been a way to “stand against a dictatorial government and pursue economic democracy.”“Cho Kuk in his 20-somethings was inexperienced and fell short, but sought to walk along with public agony with a passionate heart,” Cho said Wednesday morning at a temporary office in Jongno, centra

PoliticsAug. 15, 2019

[Newsmaker] Ex-chief of staff Kim Ki-chun gets suspended term for falsifying records on Sewol sinking

The Seoul Central District Court on Wednesday sentenced Kim Ki-chun, former President Park Geun-hye’s chief of staff, to a year in prison suspended for two years for falsifying records on reports received by President Park on the day of the Sewol ferry disaster. The court also acquitted former National Security Office chiefs Kim Jang-soo and Kim Kwan-jin. Kim Ki-chun and Kim Jang-soo allegedly manipulated records submitted to the National Assembly about the time that former President Park

Social AffairsAug. 14, 2019

[Newsmaker] Dismembered body found in Han River

A dismembered body has been found in the lower reaches of the Han River in Goyang, Gyeonggi Province, local police said Wednesday.According to Goyang Police Station, the bare torso of a dead man was found floating in the river near the southern-end of Magok Railway Bridge around 9:15 a.m. Monday by an employee of Hangang Operations Office. The body was missing its head and limbs.Police said the torso, presumed to belong to a man between his 20s and 50s, is believed to have been disposed not long

Social AffairsAug. 14, 2019

[Newsmaker] Bus driver’s waiting time doesn’t count as work hours: court

The Supreme Court ruled that a former chief executive who was fined for making his employee work longer than the legally permitted 52 hours a week was not guilty, saying waiting time did not count as work hours.The top court said Tuesday it has overturned a lower court ruling that imposed a fine of 500,000 won ($410) on Kwak No-sang, former chief executive of Korail Networks. It sent the case back to the Suwon District Court for retrial. The Korail Networks employee surnamed Yoon, who drove a sh

Social AffairsAug. 13, 2019

[Newsmaker] Chaos at court as murder suspect claims self-defense

Koh Yu-jeong, suspected of murdering her former husband, attended her first trial before a crowd of jeering spectators Monday. During the trial at Jeju District Court, which started at 10 a.m., Koh maintained that she had acted in self-defense against a rape attempt by her ex-husband, identified only by his surname Kang.Koh’s attorney said that Kang attempted “unwanted physical contact” with Koh during the divorced couple’s meeting with their son, “expecting the def

Social AffairsAug. 12, 2019

[Newsmaker] Kolmar Korea president resigns, apologizes for controversial video

Yoon Dong-han, president of cosmetics and health care goods manufacturer Kolmar Korea, apologized and resigned Sunday after showing a controversial video praising Japan to employees last week.During a press conference at Kolmar Korea’s headquarters in Seoul, Yoon said he deeply regretted his behavior and would take responsibility by resigning from the top post.“I apologize to our clients for causing harm due to my wrong behavior, and also to customers who trusted Kolmar Korea product

IndustryAug. 11, 2019

[Newsmaker] Disgraced money manager Jeffrey Epstein dead in apparent suicide

NEW YORK (Reuters) -- Disgraced financier Jeffrey Epstein was found dead on Saturday after an apparent suicide in the New York jail cell where he was being held without bail on sex-trafficking charges, and a source said he was not on suicide watch at the time of his death.Epstein, 66, was found unresponsive in his cell in the Special Housing Unit of the Metropolitan Correctional Center (MCC) and taken to a hospital where he was pronounced dead, the Federal Bureau of Prisons, which operates the l

World NewsAug. 11, 2019