[Newsmaker] McDonald’s seeks to sell Korean branch again

McDonald’s, the world’s largest burger chain by revenue, is seeking a buyer to take over the Korean business it wholly owns, six years after its first attempt, which fell apart after a local dairy company backed out. “We’re looking for a strategic partner who could help our business here grow. We’re looking at several options with outside advisers,” a McDonald’s Korea official said Friday, declining to elaborate on details. Mirae Asset Securities will

IndustryJune 10, 2022

[Newsmaker] Two Koreas clash over North’s nuclear development at UN

The two Koreas once again clashed at the UN over North Korea’s nuclear weapons program, with Seoul calling for an end to provocation and Pyongyang repeating its right to self-defense. In the same General Assembly meeting held in New York on Wednesday, China and Russia defended their vetoes of the resolution to impose additional sanctions on North Korea, accusing the US of stoking tension on the Korean Peninsula. “We urge the Democratic People’s Republic of Korea to stop suc

Foreign AffairsJune 9, 2022

[Newsmaker] ‘Fandom Politics’: When political supporters act like K-pop fans

"Fandom politics” is the latest buzzword in South Korean politics. It made headlines after Park Ji-hyun, a former co-head of the Democratic Party of Korea’s interim leadership committee, said last month that she would change her party to become a party “for the public, not for fandoms.” Park made the remarks as she criticized the culture that “defended the faults of their own while chastising political opponents for smaller problems” in politics. She h

PoliticsJune 8, 2022

[Newsmaker] UK PM Johnson survives no-confidence vote

LONDON -- British Prime Minister Boris Johnson survived a no-confidence vote on Monday, securing enough support from his Conservative Party to remain in office despite a rebellion that leaves him a weakened leader with an uncertain future. Known for his ability to shrug off scandals, the charismatic leader has struggled to turn the page on revelations that he and his staff repeatedly held boozy parties that flouted the COVID-19 restrictions they imposed on others. Support among his fellow Conser

World NewsJune 7, 2022

[Newsmaker] Queen marks 70 years, vows to keep serving

LONDON -- Queen Elizabeth II on Sunday brought the curtain down on her historic Platinum Jubilee celebrations, making another public appearance on the last of four days of festivities and vowing to maintain her record-breaking reign. The 96-year-old monarch, who has been troubled by mobility problems, appeared for the first time in person since Thursday on the Buckingham Palace balcony after the Trooping the Colour military parade. Her exertions at the start of the celebrations had forced her to

World NewsJune 6, 2022

[Newsmaker] Police patrol Hong Kong park amid Tiananmen vigil ban

Dozens of police officers patrolled Hong Kong's Victoria Park on Saturday after authorities for a third consecutive year banned public commemoration of the anniversary of the Tiananmen Square crackdown in 1989. For decades, an annual candlelight vigil was held in the park to remember China's deadly crackdown on protesters demanding greater democracy in Beijing's Tiananmen Square on June 4, 1989. Critics say the ban is part of a move to suppress political dissent and a sign that Hong Kong is

World NewsJune 4, 2022

[Newsmaker] KB raises awareness of saving bees for World Environment Day

KB Financial Group said Friday it had produced and launched a video highlighting the impact of the declining bee population on the environment for the upcoming World Environment Day. The video titled “Warning of the Bees” portrays how climate change and excessive exposure to pesticides threaten the existence of bees, as well as the alarming consequences for humanity. It also paints the stories of people contributing to the effort to revive the bee population. The video is part o

MarketJune 3, 2022

[Newsmaker] Army of service robots rolling in to replace high-cost labor in Korea

Accelerated by soaring labor costs, the reduced number of workers willing to take labor-intensive jobs and pandemic-triggered noncontact services, South Korea has seen a growing number of businesses deploying front-line service robots that have begun replacing humans in performing mundane and routine tasks.  Korea’s service robot market will grow to an accumulative 230,000 robots by 2025, worth 2.8 trillion won ($2.25 billion) in value, according to market data compiled by the Inter

IndustryJune 1, 2022

[Newsmaker] 2022 local elections by the numbers

The 2022 local elections are upon us. Here’s a quick look at the vote by key numbers. 2.2 percent This is the first local election in which 18-year-olds can cast ballots. They already hit the polls during the presidential election in March after the voting age was lowered from 19 to 18 in late 2019. The number of 18- and 19-year-old voters stands at 973,335, or 2.2 percent of the country‘s 44.3 million eligible voters. 7 sheets In the June 1 elections, most voters will

PoliticsMay 31, 2022

[Newsmaker] Conservative churches ramp up attacks on student rights ordinance

At a megachurch in the affluent Seocho district in southern Seoul, a poster near the entrance calls on churchgoers to oppose Seoul’s ordinance of student rights by signing a petition. “We are against the Student Human Rights Ordinance which tells kids that homosexuality, transgenderism and pregnancy are a right,” the poster at SaRang Community Church reads. “By not teaching the scientific fact that people aren’t born with their sexual orientation, gay and transgen

Social AffairsMay 30, 2022

[Newsmaker] Director Park Chan-wook, master of mise-en-scene

South Korean filmmaker Park Chan-wook’s best director win at the 75th Cannes Film Festival on Saturday for his mystery film, “Decision to Leave,” is the director’s third prize at the international film festival. His iconic action noir “Oldboy,” indelible in the memory of many for the much-talked-about live octopus eating scene, brought him the Grand Prix in 2004, while horror film “Thirst” earned him the Jury Prize in 2009.  Marking his 3

FilmMay 29, 2022

[Newsmaker] Song Kang-ho, prolific and versatile actor

Actor Song Kang-ho became the first Korean male actor to win an acting prize at the Cannes Film Festival, grabbing the award for best actor for his role as a “baby broker” in Japanese director Hirokazu Kore-eda’s “Broker” on Saturday. This marked the 55-year-old’s seventh invitation to the prestigious film festival, but it is the first title the veteran actor has won at Cannes. Song starred in several Cannes award-winning films, including Park Chan-wook&rsqu

PerformanceMay 29, 2022

[Newsmaker] Kakao's Kim Beom-su steps down from last chairman position

Kakao founder Kim Beom-su has stepped down as chairman at the Brian Impact foundation he established last year for philanthropic projects, the nonprofit said Friday. With the announcement, Kim has resigned from all chairman posts including his resignation as Kakao chairman of the board in March. Kim will keep his position as the head of the Kakao Future Initiative Center. The founder and former CEO of the South Korean IT giant will remain as a registered director on the board and continue to t

TechnologyMay 27, 2022

[Newsmaker] Does skin color still matter in Korea?

Back in 2007, a small but significant step was taken by the Ministry of Education when it decided to revise school textbooks to remove a certain widely used phrase: “Our country has continued a tradition of a mono-ethnic country, which is rare in the entire world.” Despite the government making various policies for the rising population of people with different ethnic backgrounds in recent years, Korean society hasn’t moved on from its long-held perception of homogeneity. F

Social AffairsMay 25, 2022

[Newsmaker] Is Son the best footballer S. Korea has ever produced?

With Son Heung-min becoming the first Asian player ever to win the Golden Boot in Premier League history, debate about the best soccer player South Korea has ever produced seems all but obsolete. Joining the Tottenham Hotspur in 2015 as the 13th player in the country’s history to play in one of the world’s top soccer leagues, Son had exceeded expectations by becoming the lead goal-getter of the English league on Sunday. The 29-year-old shares the coveted trophy with Mohamed Salah o

SoccerMay 23, 2022

[Newsmaker] S. Korea’s new PM pledges to seek political unity, bolster economic recovery while cutting red tape

South Korea’s new Prime Minister Han Duck-soo officially began his term on Monday, 48 days since he was nominated by President Yoon Suk-yeol. At his inauguration, Han stressed he would seek cooperation with the country’s major parties and that the government will make all-out efforts to help the country’s economic recovery, while hinting at cutting red tape in the future. “Without national unity and political cooperation (among the government and major political partie

PoliticsMay 23, 2022

[Newsmaker] Number of metaverse users hits lowest point after social distancing rules lifted

The number of metaverse users across major virtual world platforms in South Korea has dropped sharply since social distancing measures were lifted, a report showed Sunday. According to big data analysis firm Mobile Index, the number of Roblox’ weekly active users recorded 773,678 during the period between May 9 and 15, a nearly 18 percent drop from the previous weekly figure. It was the lowest number recorded since the last week of June 2021. During the same period, the amount of time s

Social AffairsMay 22, 2022

[Newsmaker] Prosecutors looking into whether to bring Ponzi fraud charges against Terraform CEO Kwon

Prosecutors are looking into whether to bring Ponzi fraud charges against CEO Do Kwon of Terraform Labs, sources said Friday, a day after investors sued him over the shocking crash of the firm's two cryptocurrencies. In a crash starting last week, Terraform's two main tokens, TerraUSD and sister coin Luna, had registered more than 99.99 percent falls from their highs, wiping out more than $38 billion of investors' money in a week, according to data by CoinMarketCap. Financial authorities said ab

Social AffairsMay 20, 2022

[Newsmaker] Hanwha builds Korea's first beehive monitored by using solar energy

To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. At this beehive, about 40,000 bees will help pollinate the fruit trees on campus and vege

IndustryMay 19, 2022

[Newsmaker] Cryptocurrency crashes take a mental toll on young investors

“Where did all the posts about Luna go? Have you guys all gone to Han River?” This anonymous comment on the Bitcoin section of online community DCinside captures the depressing mood of online cryptocurrency communities in recent days. The crash of Korean-made cryptocurrency terraUSD, also known as UST, and its sister token luna, has made headlines around the world as its impact was felt in the global cryptocurrency market. “Going to Han River” – a rather dark p

Social AffairsMay 18, 2022