[Newsmaker] Ahn Cheol-soo hit by political double whammy

The new 20th National Assembly is just gearing up for a fresh start, but Rep. Ahn Cheol-soo of the People’s Party already finds himself trapped between a nose-diving party approval rating and an illicit fund probe concerning some of his closest aides.Whether or not he succeeds in pulling the fledgling centrist opposition party out of the current trials will also act as a leadership barometer, judging his qualifications for the 2017 presidential election, in which he is expected to make a bid. (Y

PoliticsJune 12, 2016

[Newsmaker] NHN’s Line to go public in Tokyo, New York

Line Corp., a Tokyo-based mobile messenger platform owned by Korean Internet giant NHN Corp., will go public on the main stock markets in New York and Tokyo next month, the company said Friday.In a regulatory filing, the company said it will begin trading its shares on the Tokyo stock market on July 14th and in New York on 15th.The company will issue 35 million new shares offered at 2,800 yen ($26.20) per share. Goldman Sachs, JPMorgan, Morgan Stanley and Nomura Securities are the lead advisers

IndustryJune 12, 2016

[Newsmaker] Obama backs Clinton for president

(AP)President Barack Obama endorsed one-time rival Hillary Clinton to be his successor Thursday, signaling to Democrats it is time to unify after a bitter primary campaign and beat Donald Trump."Tens of millions of Americans made their voices heard. Today I just want to add mine," Obama said in a video endorsement. "I'm with her."Their first joint campaign event will take place next Wednesday in Green Bay, Wisconsin.Obama won the state in 2008 and 2012, but Democrats expect a tough fight this ye

World NewsJune 10, 2016

[Newsmaker] Trump backs down under Republican fire in race row

Trump backs down under Republican fire in race row Donald Trump on Tuesday climbed down under fire from Republican grandees in an explosive race row, insisting that days of belligerent attacks on a Mexican-American judge had been misconstrued.The tycoon, who trails likely Democratic nominee Hillary Clinton in national polls ahead of a November general election, has repeatedly claimed that Federal Judge Gonzalo Curiel, who is handling a lawsuit against the now-defunct Trump University, is biased

World NewsJune 8, 2016

[Newsmaker] Hilary Clinton: Burning ambition and resilience to match

On the subject of women in politics, Hillary Clinton is fond of quoting the words of another illustrious first lady, Eleanor Roosevelt, who once said: “You need to grow a skin as thick as a rhinoceros.”When out on the stump, in cafes, churches and rallies across the country, Clinton tells a thousand tales of the adversity she has faced down over the course of four decades in public life.“I have the scars to prove it,” quips the 68-year-old, painted by her many enemies as “crooked,” “corrupt” --

World NewsJune 7, 2016

[Newsmaker] 'He will never die': World mourns Ali

From the White House to Kinshasa and Uzbekistan they remembered on Saturday a sporting and cultural icon, saying there would never be another one like Muhammad Ali, "The Greatest". Ali was recalled not just as a heavyweight boxing king but also for his fight for social justice, while others told moving personal stories of his warmth and generosity, how he was equally at home with presidents and people on the streets. (AFP-Yonhap)President Barack Obama hailed Ali, who died on Friday after a long

World NewsJune 5, 2016

[Newsmaker] Cheil, Publicis hold unsuccessful merger talks

Merger talks between Cheil Worldwide, the advertising unit of Samsung Group, and Publicis Groupe, the French ad giant, seem to have failed to reach a breakthrough, news reports said Thursday. Samsung declined to confirm the breakdown. The nation's largest conglomerate has sold off less profitable businesses ahead of its leadership transfer to a new generation. “It may be too early to say the talks have failed, but they haven’t narrowed differences in deal pricing and other conditions,” said an i

TechnologyJune 2, 2016

[Newsmaker] KB to synergize with Hyundai Securities

KB Financial Group will focus on wealth management, corporate and investment banking services, expecting synergy with its newly acquired Hyundai Securities, the group said Wednesday. The Seoul-based group on Tuesday completed the 1.25 trillion won ($1.05 billion) purchase of the securities firm’s shares from Hyundai Merchant Marine of Hyundai Group. With that, KB now controls 22.6 percent of the brokerage company which ranks fourth in the local industry with 3.2 trillion won in assets. “With Hyu

June 1, 2016

[Newsmaker] Lotte chairman seeks to cement power via IPO

Making a rare appearance as the head of the nation’s fifth-largest conglomerate, chairman Shin Dong-bin met top investors in the country Monday, vowing to improve the transparency of Lotte Group’s governance structure. At an investor relations forum held a month prior to the planned listing of the group’s hotel unit on June 29, Shin said the company will no longer remain a private entity but become “a public and trusted firm.”“Through the upcoming initial public offering, Lotte Group will improv

IndustryMay 30, 2016

[Newsmaker] Ban’s trip kindles presidential run rumors

U.N. Secretary-General Ban Ki-Moon’s six-day trip in South Korea would have been just a routine visit by the world’s top diplomat to his home state -- if not for the growing anticipation on his potential run in the 2017 presidential election Instead, Ban found himself at the center of national attention. Ever since the 71-year-old diplomat hinted on Wednesday at the possibility of his foray into politics, following his previous 10-year tenure, his every step has been interpreted to take on a pol

PoliticsMay 29, 2016

[Newsmaker] World leaders open G7 talks

World leaders kicked off two days of G7 talks in Japan on Thursday, with the creaky global economy taking centre stage and disquiet over China's growing influence looming over proceedings.Heads of state and government from the United States, Britain, France, Germany, Italy, Canada and host Japan are meeting in Ise-Shima, a mountainous region about 300 kilometres (200 miles) southwest of Tokyo. The group, including US President Barack Obama -- who is making a historic trip to the atomic-bombed ci

InternationalMay 26, 2016

[Newsmaker] Samsung to counter-sue Huawei

Samsung Electronics on Wednesday hinted that it might file a counter-suit against Huawei, which has sued the Korean company in the U.S. and China for infringing its technology patents. “We will take countermeasures, including a lawsuit (against Huawei),” Ahn Seong-ho, head of Samsung’s intellectual property division, told reporters after a weekly meeting of Samsung CEOs in Seoul. Samsung Group headquarters (Yonhap)His comment came after the Chinese equipment giant filed patent suits in Californi

TechnologyMay 25, 2016

[Newsmaker] Green professor wins Austria presidency

Austria came close to becoming the first European Union country to elect a far-right head of state as postal ballots on Monday decided a knife-edge presidential vote in favour of the anti-immigration candidate‘s environmentalist opponent.The results were awaited nervously by governments across Europe, where populist anti-immigration parties have surged over the past year on concerns over a refugee influx, continued weak economic growth and high unemployment.After the election was too close to ca

World NewsMay 24, 2016

[Newsmaker] Britain’s Loach wins Cannes honor

British director Ken Loach won the Palme d’Or top prize at Cannes on Sunday for the second time in a decade with his moving drama “I, Daniel Blake” about the shame of poverty in austerity-hit Europe.　The award marked a major upset at the world’s top film festival in favor of the left-wing director, who turns 80 next month and is known for shining a light on the downtrodden.　He beat runaway favorites including the rapturously received German comedy “Toni Erdmann” by Maren Ade, one of three female

FilmMay 23, 2016

[Newsmaker] Taliban leader Mansour is man of war, not peace talks

Taliban leader Mansour: man of war, not peace talksKABUL -- Afghan Taliban leader Mullah Akhtar Mansour, who according to U.S. officials was probably killed in a drone strike, took over as head of the insurgent movement last July following the revelation that the group‘s founder Mullah Omar had been dead for two years.He was initially thought to favor peace talks with the government, but after becoming leader he repeatedly refused to come to the negotiating table.For some Mansour was the obvious

World NewsMay 22, 2016

[Newsmaker] Dongbu Group chief faces insider trading probe

Korea’s financial watchdog said Wednesday it is likely to report steel-making giant Dongbu Group founder and chairman Kim Jun-ki to the prosecution for insider trading charges.“The authorities have been looking into stock trading records of the tycoon to figure out whether he conducted unfair transactions based on insider information about faltering Dongbu Engineering & Construction,’’ an official from Financial Supervisory Service said, adding the case will be referred to the prosecution if the

IndustryMay 18, 2016

[Newsmaker] Activist song roils nation

Over the past decade, South Korea has faced ideological debates every May over the song “March for Our Beloved” -- whether it should be an official song during a ceremony to honor the victims of the pro-democracy uprising in Gwangju and whether it should be left up to the participants to sing-along.The dispute is likely to be repeated this year -- and perhaps even intensified -- in the run-up to the May 18 ceremony as the government on Monday rejected a call to designate the controversial song a

PoliticsMay 16, 2016

[Newsmaker] Maduro cracks down with emergency decree

Venezuelan President Nicolas Maduro announced a sweeping crackdown Saturday under a new emergency decree, ordering the seizure of paralyzed factories, the arrest of their owners and military exercises to counter alleged foreign threats.The embattled leftist is struggling to contain a raging economic crisis that has led to food shortages, soaring prices, riots, looting and vigilante justice, pushing Venezuela to the brink of collapse.He accused the United States on Friday of destabilizing the cou

World BusinessMay 15, 2016

[Newsmaker] Rousseff: From insurgent to impeachment

Dilma Rousseff survived torture as a guerrilla opposing Brazil’s military dictatorship. Four decades later, as president, she’s fighting for her political survival.After those dark days in the 1970s, when Rousseff belonged to a violent Marxist underground group, she rose to become Brazil’s first female president.Less than a year into her second term, though, she faces being suspended from office this week for an impeachment trial in the Senate on charges that her government took unauthorized loa

World NewsMay 12, 2016

[Newsmaker] Obama to make historic visit to Hiroshima

WASHINGTON (AFP) -- Barack Obama will this month become the first sitting U.S. president to visit Hiroshima, but the White House is scotching talk of an apology for the devastating 1945 nuclear bombing of the city.Obama, accompanied by Prime Minister Shinzo Abe, will make the deeply symbolic visit on May 27, after attending a G7 summit in south-central Japan, his spokesman Josh Earnest said Tuesday.The White House described the trip as an effort to highlight the U.S. “commitment to pursuing the

World NewsMay 11, 2016