[Newsmaker] Consumer prices grow over 3 percent for 4 consecutive months

SEJONG -- The nation’s consumer prices climbed 3 percent or more for the fourth consecutive month, despite the Bank of Korea’s three interest rate hikes between August 2021 and January. Statistics Korea said Friday that consumer prices grew 3.6 percent in January, compared to a year earlier. After the growth breached a 3 percent threshold -- 3.2 percent -- for the first time in more than nine years in October, it rose to 3.8 percent in November and 3.7 percent in December. This mar

EconomyFeb. 4, 2022

[Newsmaker] Celltrion to supply COVID-19 self-test kits to US

Celltrion USA, the US subsidiary of the Korean biotech firm, said Thursday it signed multiple deals to supply COVID-19 self-test kits worth 400 billion won ($330 million) in the US by the first quarter of this year. The latest deals involve some 10 government agencies and companies, including the Defense Logistics Agency and the e-commerce giant Amazon. Two kinds of test packs will be supplied: DiaTrust COVID-19 Ag Home Test and DiaTrust COVID-19 Ag Rapid Test, both developed in partnership

BusinessFeb. 3, 2022

[Newsmaker] How far have chips come to emulate human brain?

JEONGSEON, Gangwon Province -- New chip technologies could advance to the degree that chips in the future could emulate the human brain in terms of computing speed, density and efficiency, experts said during keynote speeches at the 29th Korean Conference on Semiconductors held in Jeongseon, Gangwon Province Tuesday. However, a technology breakthrough to break the mold is crucial, as achieving large processing capacity and energy efficiency simultaneously is becoming more elusive on the convent

TechnologyJan. 31, 2022

[Newsmaker] Police investigating needle placed in a study room chair

Police have launched an investigation Friday to nab a suspect who secretly stuck a needle into a chair in a study room in Seoul, resulting in injury to the next user of the seat. According to local reports, the victim was stabbed by a sewing needle hidden under the cushion when they sat down at a reading room in Shinlim-dong, Gwanak-gu, on Jan. 2. The victim suffered a minor thigh injury. The reading room is mainly used by college students preparing for the civil service exam. “Assau

Social AffairsJan. 28, 2022

[Newsmaker] 4 years prison confirmed for Cho Kuk’s wife on academic fraud

The Supreme Court on Thursday confirmed a four-year prison sentence for Chung Kyung-sim, the wife of former Justice Minister Cho Kuk, on a number of charges linked to falsifying documents to help her daughter gain admission to medical school and for other actions concerning a private equity fund. The top court found Chung, a former Dongyang University professor, guilty of all charges related to the unfair college admission of her daughter and upheld the August ruling of the Seoul High Court. C

Social AffairsJan. 27, 2022

[Newsmaker] Korea to invest W9tr to speed up digital transformation

South Korea will inject a record-high 9 trillion won ($7.5 billion) this year into its drive for digital transformation as part of the country’s Digital New Deal plan, the Ministry of Science and ICT said Wednesday. The biggest portion of the state fund, 5.9 trillion won, will be poured into strengthening the ecosystem of data, network and artificial intelligence. By the end of this year, it plans to set up 310 additional kinds of AI learning data and a comprehensive platform service t

TechnologyJan. 26, 2022

[Newsmaker] N.Korea appears to fire two cruise missiles from inland area: S.Korean military

North Korea fired two suspected cruise missiles from an inland area Tuesday morning, its fifth weapons test this year. “North Korea is presumed to launch two cruise missiles this morning,” a South Korean military official told reporters on condition of anonymity. “The missiles are estimated to have traveled mostly inland although further analysis is needed,” the military official said, adding the missiles were not fired toward the East Sea. 　 The military official sa

DefenseJan. 25, 2022

[Newsmaker] COVID pass will not be required from people who have been hospitalized with vaccine side-effects

People who have been hospitalized due to adverse events and allergic reactions to COVID-19 vaccines are exempt from the country’s vaccine pass mandate, starting on Monday. 　 According to the Central Disaster and Safety Countermeasures Headquarters, the government will grant the exemption if people have received hospital treatments within six weeks after they received their first dose of COVID-19 vaccine. Those people who requested the government compensate them for vaccination side-eff

Social AffairsJan. 24, 2022

[Newsmaker] Korea Exchange to decide fate of scandal-ridden Osstem Implant

The Korea Exchange on Monday will decide whether Osstem Implant should undergo an eligibility review to stay listed on the country’s second bourse Kosdaq, making it the third biotech firm facing a possible delisting this year. The dental implant manufacturer’s stock trading was suspended on Jan. 3 as the company announced that it had filed embezzlement charges against an employee for stealing 221 billion won ($185 million) in company funds. The stock market operator can postpone t

MarketJan. 23, 2022

[Newsmaker] Both sides appeal court’s decision on vaccine pass enforcement

The government and opponents of vaccine pass measures both appealed the court ruling that suspended some parts of the vaccine measures, each claiming the ruling is insufficient.　 “In consideration that we are in a crisis now due to COVID-19 pandemic, the minister has directed an immediate appeal against the case for the Seoul Metropolitan Government,” the Ministry of Justice said Wednesday. “As a ministry of judicial affairs, we will actively respond to lawsuits related to

Social AffairsJan. 20, 2022

[Newsmaker] Forensic psychologist quits Yoon Suk-yeol campaign over his wife's remarks

Lee Soo-jung, a criminal psychology professor at Kyonggi University, stepped down as an advisor to the main opposition People Power Party’s election camp after apologizing to a victim of a #MeToo scandal for remarks made by presidential candidate Yoon Suk-yeol’s wife Kim Keon-hee about the matter. She told a local media outlet that apologizing to the victim Kim Ji-eun ”was my conscience,” adding, “I resigned in advance because there was a difference between my pos

PoliticsJan. 19, 2022

[Newsmaker] Is soldier pen pal campaign past sell-by date?

A high school student’s sarcastic letter to a conscripted soldier sent as part of an encouragement campaign, has recently raised questions as to whether it is worth keeping the longstanding practice. The unfriendly letter written anonymously to a conscripted soldier was first posted at an online community site on Jan. 11, with the user complaining of the message deriding the receiver. “Is military life hard for you? Still, work hard. There will be a lot of hardships in life. Don

Social AffairsJan. 18, 2022

[Newsmaker] Yoon apologizes for wife’s remarks revealed in phone call with reporter

Presidential candidate Yoon Suk-yeol of the main opposition People Power Party apologized Monday for the remarks made by his wife Kim Kun-hee, after a portion of the recordings of her phone calls with a reporter was made public by a local broadcaster. A day before, MBC had broadcast parts of the 52 recorded phone calls made between Lee Myung-soo, a reporter for YouTube channel Voice of Seoul, and Kim. In the revelation, Kim was shown to have made some remarks deemed inappropriate, such as hi

PoliticsJan. 17, 2022

[Newsmaker] HDC chief likely to make public address over Gwangju accident

Amid pressure building over a series of safety accidents at Hyundai Development Co.’s large-scale construction sites in Gwangju, the builder’s chief is likely to make a public address this week, according to insiders Sunday. A week has passed since an accident at HDC’s 39-story apartment building site in Hwajung-dong in Gwangju, with five people still missing. But HDC Chairman Chung Mong-gyu has remained silent.  The Gwangju accident is the second case involving HDC. In

IndustryJan. 16, 2022

[Newsmaker] ‘Baby Shark Dance’ hits 10b YouTube views

“Baby Shark Dance” a YouTube videofeaturing the titular song and playful choreography, surpassed 10 billion views Thursday. Beloved by both children and adults, the two-minute video tells the story of a shark family going on an underwater hunt. The English-language version of the video came out in June 2016, soon after its success in Korean in 2015. The English version of ”Baby Shark Dance“ record far exceeds the 2.3 billion views of the Luis Fonsi and Daddy Yankee&rs

TelevisionJan. 14, 2022

[Newsmaker] Presidential candidate Ahn demands special investigation into corruption scandals around Lee Jae-myung

People’s Party presidential candidate Ahn Cheol-soo on Thursday openly attacked Democratic Party of Korea presidential candidate Lee Jae-myung, saying that those linked to allegations against him have been “silenced with death.” Ahn also strongly demanded prosecutors to launch a special investigation into the scandals and their possible connection with presidential candidate Lee. “People who held keys to corruption scandals, including the Daejang-dong corruption scandal

PoliticsJan. 13, 2022

[Newsmaker] Lee Jae-myung whistleblower found dead

The first whistleblower on ruling Democratic Party of Korea presidential nominee Lee Jae-myung's alleged payment of legal fees by proxy in 2018 was found dead Wednesday, after he had gone missing for days. The latest is the third death reported among those related to allegations surrounding Lee, which has again raised calls for exhaustive investigations into Lee's suspected charges from the opposition bloc. Police said Wednesday that the lawyer named Lee Byung-chul was found dead at a motel in

PoliticsJan. 12, 2022

[Newsmaker] Should politicians care about your hair loss?

Last week, the talk of the town was Democratic Party of Korea presidential candidate Lee Jae-myung’s pledge to have hair loss treatments covered by public health care insurance, prompting both cheers from supporters and criticism of populism. What stood out in particular was the enthusiastic response from young voters, despite hair loss known to be more prevalent among the older generation. In fact, the pledge itself was suggested by the Lee election team’s youth committee, off a p

Social AffairsJan. 11, 2022

[Newsmaker] Kakao CEO nominee resigns over stock selling

Amid mounting criticism over Kakao executives forging a block deal to sell massive stakes they received as stock options, the IT giant’s next CEO stepped down voluntarily on Monday, leaving the company‘s management ethics in question. Ryu Young-joon, the appointee for Kakao’s next CEO, expressed his will to resign amid escalating criticism over the mass sale of his Kakao Pay shares, the IT giant said Monday. Kakao Pay is a payment platform which made a market debut in November

IndustryJan. 10, 2022

[Newsmaker] UN Security Council expected to meet Monday on NK’s missile launch

  The UN Security Council is expected to meet behind closed doors on Monday to discuss North Korea’s missile launch, but a joint statement after the session appears to be less likely. 　 Diplomatic sources say the US, France and the UK -– three of the five permanent members on the council –- as well as Ireland and Albania, requested an emergency meeting to be held on Monday in the US to discuss the launch of what Pyongyang claims to be a hypersonic missile. 　 “We ca

North KoreaJan. 9, 2022