The Korea Herald

Libyan plane hijacked, lands in Malta: PM

A man who said he was armed with a grenade Friday hijacked a Libyan plane which landed on the Mediterranean island of Malta with 118 people on board, Malta's prime minister and government sources said.The Airbus A320 had been on a domestic Libyan route operated by Afriqiyah Airways from Sabha in the south to the capital Tripoli but was re-routed."The Afriqiyah flight from Sabha to Tripoli has been diverted and has landed in Malta. Security services coordinating operations," Maltese Prime Ministe

World News Dec. 23, 2016

Berlin truck attack suspect killed in Milan police shootout

The Tunisian man suspected of driving a truck into a crowded Christmas market in Berlin was killed early Friday in a shootout with police in Milan, ending a Europe-wide manhunt, Italy's interior minister said.Checks conducted after the shootout showed "the person killed, without a shadow of a doubt, is Anis Amri, the suspect of the terrorist attack,'' Interior Minister Marco Minniti said.The Islamic State group claimed responsibility for the Monday attack in Berlin, which killed 12 and injured 5

World News Dec. 23, 2016

N.K. may seek to have dialogue one year after Trump takes office: ex-diplomat

North Korea may seek to hold dialogue with the United States sometime one year after U.S. President-elect Donald Trump takes office, a lawmaker said Friday, citing remarks by a high-profile North Korean defector.Thae Yong-ho, who defected to South Korea in July after serving as a ranking diplomat, made the comment at a parliamentary committee earlier in the day, where he explained the reasons for his defection and life under the country's leader Kim Jong-un.The North's leader wants his country t

North Korea Dec. 23, 2016

Acting president assures British minister of policy consistency

South Korea's Acting President and Prime Minister Hwang Kyo-ahn on Friday assured Britain's visiting Finance Minister Philip Hammond that there will be no marked change in policy.The remarks were made during a meeting between Hwang and the British Chancellor who visited South Korea for one day to meet with top South Korean government officials on a host of bilateral and economic issues."There is no policy adjustment from our government, and state affairs are operated normally and steadily," Hwan

Politics Dec. 16, 2016

U.N. to adopt N.K. human rights resolution next week

The U.N. General Assembly is scheduled to adopt a North Korean human rights resolution next week that calls for referring the situation to the International Criminal Court and expresses serious concerns about Pyongyang's labor exports, Seoul's foreign ministry said Friday.The resolution, which was adopted by a third committee under the assembly last month, will be adopted at a plenary General Assembly meeting slated for Monday (local time), the Ministry of Foreign Affairs said."The North Korean

North Korea Dec. 16, 2016

S. Korea, Japan militaries directly exchange intelligence on NK for first time

South Korea and Japan on Friday directly exchanged classified information on North Korea's nuclear and missile programs for the first time in line with their intelligence-sharing pact which came into force last month, the defense ministry said. Defense ministry spokesman Moon Sang-gyun told reporters that the exchange was made during a meeting between the two countries'senior defense officials held in Seoul in conjunction with a three-way security dialogue which also includes the United States.

Diplomatic Circuit Dec. 16, 2016

Fate of Samsung’s future strategy office nears end

Samsung Group’s future strategy office, which its de facto chief Lee Jae-yong vowed to abolish during a parliamentary hearing Tuesday, has long been the tech giant’s key organ in charge of acquisitions of companies and the entry of new businesses. “I will remove Samsung’s Future Strategy Office, which is subject to negative public sentiment,” Lee said.The office, dubbed the control tower of Samsung Group, was formed under the direction of group founder Lee Byung-chull in 1959. It started as a se

Industry Dec. 6, 2016

Fate of Samsung’s future strategy office nears end

Lee Jae-yong put at center in largest hearing on chaebol　

The nation was glued to television broadcasts Tuesday as the country’s top chaebol owners sat in front of lawmakers at the National Assembly to face questions over allegations they made secret deals with President Park Geun-hye and her longtime friend Choi Soon-sil in exchange for favors.The historic hearing put Samsung Electronics Vice Chairman Lee Jae-yong at the center of the Choi scandal, turning the entire session into a rare event that laid bare alleged irregularities surrounding Lee’s rol

Industry Dec. 6, 2016

Lee Jae-yong put at center in largest hearing on chaebol

LG Electronics names home appliances head as CEO

LG Electronics on Thursday named Jo Seong-jin, the head of its home appliances division, as its new CEO, putting the tech giant’s operation under a one-man leadership system for speedy decision making amid fierce market competition.The South Korean electronics manufacturer had been led by three executives since its former CEO and Vice Chairman Koo Bon-joon’s departure to LG Corp., the holding company of LG Group last year.The board’s decision grants Jo full leadership of LG Electronics’ overall

Technology Dec. 1, 2016

LG Electronics names home appliances head as CEO

Conglomerates begin executive reshuffle

South Korean conglomerates have started to carry out their annual reshuffles of executives this week, while they try to remain low-profile amid the ongoing prosecutors’ investigation into alleged corporate lobbying involving the South Korean president.The reshuffles started with GS Group on Tuesday, and LG Group is likely to implement changes in executive positions later this week. Samsung Group, meanwhile, has postponed their announcement to mid-December, breaking its tradition of delivering th

Industry Nov. 30, 2016

Samsung puts transition process on fast-track

In a widely anticipated move, Samsung Electronics said Tuesday that it would review creating a holding company, increase cash returns to shareholders and have at least one outside director as part of efforts to enhance shareholders’ value. The announcement comes nearly two months after a proposal by US activist hedge fund Elliott Management to reshape its corporate structure. On Oct. 6, Elliott, through its affiliates -- Blake Capital and Potter Capital -- sent a letter to Samsung Electronics’ b

Industry Nov. 29, 2016

Samsung puts transition process on fast-track

Samsung CSR Awards recognize employees for volunteer works

From a special class for the visually impaired to teach how to use a smartphone to papering the walls for low-income households, some 35 employees of Samsung affiliates who shared their talents with people in need received the annual Samsung Corporate Social Responsibility award on Thursday. Recipients of 2016 Samsung CSR award pose for photo at a ceremony held at Samsung Electronics headquarters in Seocho, Seoul, Thursday. (Samsung Group)　The Samsung CSR Award was established in 1995 to honor t

Industry Nov. 28, 2016

Samsung CSR Awards recognize employees for volunteer works

KITA chief urges end to cozy corporate-state ties

Kim In-ho, chairman and CEO of Korea International Trade Association, on Monday urged the government to end its cozy ties to businesses, amid intensifying allegations that President Park Geun-hye lobbied chaebol leaders.Asked of his view on the scandal involving Park and her long-time friend Choi Soon-sil, Kim said he believes that the time is ripe to end such practices and take this as an opportunity to shift into a completely free market economy. “The current government is not the only one. Al

Industry Nov. 28, 2016

KITA chief urges end to cozy corporate-state ties

[Behind the Wheel] Grandeur reconstructs Hyundai’s legacy

Forget about the Grandeur that you used to know. The old image of the luxury sedan for upper class, middle-aged drivers is gone with the release of the all-new Grandeur last week. The new Grandeur, the sixth generation of Hyundai’s signature luxury sedan, is young, innovative and sporty.And the market is responding fast. Of all preorders, 48 percent of the drivers were in their 30s and 40s, a 7 percent increase from its previous model Grandeur HG, said Ryu Chang-seung, head of Hyundai’s domestic

Mobility Nov. 27, 2016

[Behind the Wheel] Grandeur reconstructs Hyundai’s legacy

BMW cars recalled over engine, airbag defects

The South Korean government recalled more than 21,300 BMW vehicles distributed by local importer BMW Korea over defects found in the engine and airbags, officials said Friday.Of the total, 11,689 vehicles of BMW’s 19 models, including the 530d xDrive and the X6 M50d, are subject to the recall due to defective engine timing belt tensioners. The problem found with the component could make the engine stop while driving, the ministry said, quoting tests conducted by the Korea Transportation Safety A

Mobility Nov. 25, 2016

BMW cars recalled over engine, airbag defects

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