[Newsmaker] Nat'l pension fund employees under drug probe: police

Four employees of the National Pension Service Investment Management (NPSIM) have been under criminal investigation over suspected drug charges, police said Friday. According to the Jeonbuk Provincial Police Agency, the four employees, who had previously served as fund managers for the world's leading pension operator, have been booked without detention on suspicion of inhaling cannabis, a banned substance in South Korea. The four, whose identities were withheld, confessed to using cannabis d

Social AffairsSept. 18, 2020

[Newsmaker] Seoul city to file 4.6b won compensation suit against pastor

The Seoul city government said Friday it plans to file a 4.6 billion-won ($3.9 million) compensation suit against a pastor blamed for worsening the new coronavirus outbreak here by holding mass rallies in central Seoul. Despite warnings against holding mass rallies, Jun Kwang-hoon, who pastors Sarang Jeil Church in northern Seoul, is suspected of leading anti-government protests in central Seoul in mid-August that thousands of people attended. Jun, himself, later tested positive. "Even l

Social AffairsSept. 18, 2020

[Newsmaker] Yoon Ji-oh reveals whereabouts, rebuts prosecution's claim

Yoon Ji-oh, an actor who has been engulfed in donation fraud and defamation allegations related to late actress Jang Ja-yeon, denied the Justice Ministry’s statement that the investigation against her had been suspended because her location was unknown. The Korean-Canadian has been in Canada since April last year, after several lawsuits were filed against her including damage suits filed by those who made donations to her. The donations were in support of Yoon‘s decision to come

Social AffairsSept. 17, 2020

[Newsmaker] Celltrion on path to break W1tr in operating profit

  　Celltrion Group is expected to become the first Korean biologics drug company with an operating profit of over 1 trillion won ($850 million), financial data aggregator FnGuide projected Tuesday. 　To put things into perspective, in 2019 there were only six groups that had delivered such a performance: Samsung, SK, Hyundai Motor, Lotte, LG and GS. 　Celltrion Group is one of the few companies that has come out stronger from the unforeseen COVID-19 crisis. Comprising of biosimilars develop

IndustrySept. 16, 2020

[Newsmaker] N. Korea continues missile development: defense minister nominee

North Korea is continuing to develop its missile capabilities, defense minister nominee Gen. Suh Wook said Wednesday, vowing to sternly respond to any provocations. Suh made the remark in an opening speech during a confirmation hearing at the National Assembly amid speculation that the North could showcase a new strategic weapon at the 75th founding anniversary of its ruling party on Oct. 10. "North Korea is focusing on preparations for the 75th party founding anniversary event after sus

North KoreaSept. 16, 2020

[Newsmaker] Public consensus needed to exempt BTS from draft: defense minister nominee

Defense Minister nominee Suh Wook said Monday that the ministry should consult with the public before deciding whether to grant the members of K-pop group BTS exemptions from mandatory military service. “The service should be carried out by all able-bodied men in an equitable manner,” the sitting Army chief said in a written opinion submitted to the parliamentary defense committee set to open a hearing Wednesday on his credentials as defense chief. All able-bodied men must serve

DefenseSept. 14, 2020

[Newsmaker] Suga as next Japanese premier likely to stay course on S. Korea relations: experts

As Yoshihide Suga, a key loyalist of Japanese Prime Minister Shinzo Abe, is poised to succeed the hawkish leader, Tokyo is likely to stay the course in its hard-line stance on Seoul rather than seeking an immediate policy shift, analysts said Monday. Chief Cabinet Secretary Suga won the ruling Liberal Democratic Party (LDP)'s leadership contest and is expected to be endorsed as new premier in a parliamentary vote slated for Wednesday. Abe announced his surprise decision to step down due to ill

World NewsSept. 14, 2020

[Newsmaker] Choo apologizes for influence-peddling scandal involving son

Minister of Justice Choo Mi-ae apologized Sunday over allegations she peddled influence to earn special favors for her son, but denied any wrongdoing. “I feel deeply sorry for causing troubles to the people with issues involving my son,” she said in a Facebook post. But the minister said she has kept her principles strict and has never called “a black thing white.” It has been alleged that Choo’s son was given favorable treatment in having his leave extended dur

Social AffairsSept. 13, 2020

[Newsmaker] Justice minister apologizes over alleged power abuse scandal involving her son

Justice Minister Choo Mi-ae apologized Sunday over allegations she used her influence to seek special favors for her son during his mandatory military service, breaking her recent silence on the issue. Choo has come under fire over suspicions that she abused her power to seek preferential treatment for her son, surnamed Seo, when he was in the military in 2017, such as by extending medical leave without following due procedures. Choo was chairwoman of the ruling Democratic Party at the time.

PoliticsSept. 13, 2020

[Newsmaker] Celltrion confirms phase 1 trial safety of COVID-19 antibody drug

Celltrion said Friday that it had confirmed the safety of COVID-19 antibody drug CT-P59 in healthy people through a domestic phase 1 trial involving 32 people. Once another clinical phase 1 trial targeting light-symptom COVID-19 patients wraps up, Celltrion plans to proceed to global phase 2 and 3 trials in as many as 12 nations targeting 500 patients. Clinical test designs for these global trials have already been submitted in seven countries, Celltrion said. Although the company refraine

IndustrySept. 11, 2020

[Newsmaker] 'Digital Prison' targeting sex crimes shuts down amid outcry

A South Korean vigilante website that published personal details of people it accused of sex crimes suddenly went dark this week after a public backlash sparked by the death of one of its targets, as police hunt for its operators. Calls have grown for tougher punishment for those guilty of sex crimes after a South Korean man convicted of running one of the world's largest online child pornography operations was released this year from 18 months in jail. The "Digital Prison" website

Social AffairsSept. 11, 2020

[Newsmaker] Opposition parties demand justice minister's exit

The controversy over allegations that Justice Minister Choo Mi-ae pulled strings to obtain special treatment for her son during his compulsory military service years ago intensified Thursday, leading prosecutors to expand their investigation and inviting demands for her resignation from opposition parties. The Defense Ministry on Thursday dismissed speculation that the minister’s son, 26, surnamed Seo, may have used his mother’s influence as a political bigwig and breached militar

Social AffairsSept. 10, 2020

[Newsmaker] Justice minister asked defense ministry to extend son's leave: document

Justice Minister Choo Mi-ae and her husband asked the defense ministry in 2017 to extend medical leave for their son who was serving his mandatory military duty at the time, according to documents apparently written by the ministry. Choo has come under fire over allegations that she used her influence to seek special favors for her son, who served in the Korean Augmentation to the United States Army (KATUSA) for the 2nd Infantry Division of the US 8th Army. Choo was chairwoman of the ruling De

PoliticsSept. 10, 2020

[Newsmaker] Infamous child rapist to be released in December

Infamous child rapist Cho Doo-soon is set to be freed from jail in December after completing his prison term. Cho, who brutally assaulted an 8-year-old girl in 2008, will be released Dec. 13 from a correction facility in Cheongsong, North Gyeongsang Province, where he has been imprisoned for 12 years. The criminal’s scheduled return to society has been a source of fear for many here -- parents in particular. Over the past years, scores of public petitions have been submitted to various

Social AffairsSept. 9, 2020

[Newsmaker] Pressure mounts on Choo over son's military service

The controversy over allegations against Minister of Justice Choo Mi-ae’s son continues to grow, with some comparing the situation to last year’s scandal surrounding former Justice Minister Cho Kuk. Choo, a former ruling Democratic Party lawmaker who served five terms in the National Assembly, is accused of using her influence to help her son obtain special favors during his military service. It has been claimed that Choo’s influence as a politician enabled Seo to go on ex

PoliticsSept. 8, 2020

[Newsmaker] Korea to support online concerts

The recent news that K-pop sensation BTS had become the first South Korean act to top the Billboard Hot 100 chart with its new single created economic ripple effects worth around 1.7 trillion won ($1.43 billion), according to the Ministry of Culture, Sports and Tourism on Monday. The amount is based on an analysis of data from multiple sources, including sales data for BTS’ agency, Big Hit Entertainment, as well as trade statistics from the Korea Customs Service and search statistics f

PerformanceSept. 7, 2020

[Newsmaker] Big Hit CEO Bang Si-hyuk likely to hit jack pot with IPO

The scheduled initial offering of Big Hit Entertainment, the label behind K-pop boy band BTS, is likely to make its CEO Bang Si-hyuk one of the wealthiest people in South Korea The Big Hit CEO is currently holding 12,377,337 shares, or 43.44 percent, of the company, according to the recent regulatory filing for the IPO. The entertainment agency plans to offer 7.13 million shares at a price between 105,000 won ($88) and 135,000 won. Should the offering price be set at 135,000 won, Bang&rsq

MarketSept. 6, 2020

[Newsmaker] Discussion over BTS members' military service reignited

K-pop sensation BTS becoming the first Korean act to top the Billboard Hot 100 chart with its recently released single has reignited a debate over the seven members’ military service. Under the current law, all able-bodied South Korean men are obliged to serve in the military for 18 to 22 months. The band’s eldest member Jin, whose legal name is Kim Seok-jin, has to start military service before the end of next year, according to Big Hit Entertainment. Jin was set to begin his m

K-popSept. 4, 2020

[Newsmaker] Hanwha named preferred bidder for W1tr Australia artillery project

South Korean defense firm Hanwha Defense was named the preferred bidder for an artillery project worth about 1 trillion won ($842 million) in Australia, which involves building self-propelled K9 howitzers and K10 ammunition resupply vehicles, the Australian Defense Ministry said Thursday. “Through this project, this Government is delivering the capability Army needs while creating local jobs in and around Geelong that will grow our highly skilled workforce,” Australian Defense Minis

DefenseSept. 3, 2020

[Newsmaker] NK gearing up for massive military parade: 38 North

North Korea appears to be preparing a huge military parade to mark the 75th anniversary of the Workers’ Party next month despite coronavirus fears, a US-based North Korea monitoring website said Wednesday. 　 Satellite images of Mirim airfield in Pyongyang taken Aug. 31 provide the first evidence that rehearsals for a massive military parade to be held Oct. 10 are underway, according to 38 North. The images show hundreds of vehicles parked in the parking lots adjacent to the parade ground

North KoreaSept. 2, 2020