South Korea is sparing no effort to put its stock market back on global index provider MSCI's review list of developed market index candidates, which could help lure more foreign investment, financial officials said Tuesday.The Geneva-based MSCI, or Morgan Stanley Capital International, is scheduled to announce its review results for candidates on Wednesday. It categorizes 78 countries into three benchmark indices -- developed, emerging and frontier markets. According to the officials, a governm

June 14, 2016

Online promoters of cosmetic surgery clinics who claim to have gone through plastic surgery are not to be taken at face value, according to the latest court judgment Monday. The Busan District Court found two online community leaders, respectively surnamed Lee and Song, guilty of falsely advertising cosmetic surgery clinics by pretending to have received procedures there, bagging a total of 600 million won ($510,000) in return.The court said that many patients who contemplate cosmetic surgery ma

Social Affairs June 13, 2016

The man who allegedly murdered a lone female hiker in Mount Sapaesan in Uijeongbu, north of Seoul, is set to have his arrest warrant hearing Monday. Police requested an arrest warrant for the suspect, aged 45 and surnamed Jeong, on Sunday under charges of robbery and murder. They are currently investigating relevant CCTV records and Jeong’s telephone conversations, as well as matching his testimony with his actual path of actions. (Yonhap)While the police provisionally reached the conclusion Sun

Social Affairs June 13, 2016

In March of this year, the Start-up Campus officially opened in Pangyo, Gyeonggi-do, welcoming with it the addition of the Seoul Sangnam-dong K-ICT Born2Global Center (aka, the Born2Global Center). The Born2Global Center is a start-up incubator affiliated with the Ministry of Science, ICT, and Future Planning. The center, which provides support to start-ups created with the intent of entering foreign markets, currently houses 46 companies selected based on assessments of their individual busines

Industry June 13, 2016

The South Korean government invested a total of 18.9 trillion won ($16.5 billion) in research and development in 2015, up 7 percent from a year earlier, an official tally showed Monday.The government supported 54,433 tasks in 639 projects nationwide, according to the Ministry of Science, ICT and Future Planning.It reported the data to the National Science & Technology Council.Ministry officials pointed out that the 7-percent on-year increase in R&D spending is higher than the 5.7-percent hike in

Technology June 13, 2016

Shares of Lotte Group subsidiaries took a nosedive on Monday amid a widening prosecution probe into the conglomerate over suspicions of slush funds and other malfeasance.Flagship retail unit Lotte Shopping tumbled 5.38 percent to 211,000 won ($179.9) on the main bourse, and the chemicals subsidiary sank 3.91 percent to 258,000 won. In a regulatory filing earlier in the day, Lotte Chemical said it had withdrawn its bid to take over U.S.-based chemicals maker Axiall Corp. Lotte Confectionery plung

June 13, 2016

South Korean stocks dipped by almost 2 percent to a two-week low on Monday as investors scrambled for safe havens ahead of the Federal Reserve meeting slated this week and rising concerns over Britain's exit from the European Union.The Korean won sharply lost against the U.S. dollar.The benchmark Korea Composite Stock Price Index plunged 38.57 points, or 1.91 percent, to close at 1,979.06, marking the biggest intraday loss in four months. Trade volume was moderate at 437.22 million shares worth

June 13, 2016

A Jin Air flight made an emergency landing in Japan with no injuries, said Jin Air Co., the budget unit of Korean Air Lines Co., on Monday. The pilot of the Boeing 737-800 realized there was a hydraulic system malfunction about 9:30 a.m., a failure that kept its landing gear from being lowered, a company official said.The pilot made an emergency call to the control tower in Kansai International Airport in Osaka as he manually lowered the gear for the landing, she said. She asked not to be identi

Industry June 13, 2016

A police corporal has been arrested for alleged sexual assault of a fellow female officer, the Gyeongbuk Provincial Police Agency said Monday. The police said the corporal is accused of raping the victim inside a vehicle while she was unable to resist due to intoxication by alcohol. (Yonhap)The assault had reportedly taken place at the end of May, after which the accused was transferred to another station, his crime not having been revealed to his peers.He was only removed from his position in J

Social Affairs June 13, 2016

A Korean actress who had went abroad for a prostitution expedition was fined 2 million won ($1,700), Seoul Central District Court confirmed Monday. The accused had earlier filed for an official trial to counter the penalty, but withdrew the bid on June 3.  (123RF)Prostitution is illegal under South Korean law. The actress was given a summary indictment for signing a deal with an entertainment agency head who promised financial returns on condition for sex provided to a Korean-American businessma

Social Affairs June 13, 2016