Articles by Cho Chung-un
Cho Chung-un
christory@heraldcorp.com-
Authorities seek to freeze assets of prosecutor arrested on bribery charges
Authorities are seeking to freeze the assets of a senior prosecutor arrested on charges of taking bribes from a major online game maker.An ad hoc team investigating the case on Tuesday filed for a court order to freeze some 14 billion won ($12.3 million) worth of assets of Jin Kyung-joon. The 49-year-old was put behind bars Sunday on charges of accepting bribes from Nexon Co. and using them for shady stock transactions.The move comes a day after both Justice Minister Kim Hyun-woong and Prosecuto
Social Affairs July 19, 2016
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Korean football's oldest player retires at 46
Goalkeeper Kim Byung-ji, the oldest player ever in South Korean professional football, will finally hang up his boots.Kim, 46, announced his retirement via Facebook on Tuesday, saying he wants to put his 35-year playing career into his memory bank."I was really a happy player," Kim wrote. "Yes! I'm retiring. This is for another start (of my life)."Kim has been searching for a club after his contract with the Jeonnam Dragons in the top-flight K League Classic ended last year.He failed to sign wit
Soccer July 19, 2016
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S. Korean Lawmakers push for ‘lemon law’
[THE INVESTOR] A group of ruling party lawmakers plan to submit a bill that requires carmakers and salespeople to refund or exchange new vehicles that have defects.Saenuri Party Rep. Kwon Suk-chang said Sunday he and his fellow lawmakers will propose a “lemon law,” referring to American state laws that stipulate that carmakers should compensate consumers for products that have defects despite repeated repair attempts.South Korea currently has no legal protection for consumers who purchase cars t
July 11, 2016
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STX Shipbuilding files for court-led restructuring
Financially shaky STX Offshore & Shipbuilding Co. Friday filed for a court-led restructuring scheme as it struggled with a protracted slump and mounting losses, officials at the shipbuilder and the Seoul Central District Court said.The court will soon decide whether to put the ailing shipbuilder under its receivership or on path to liquidation, the officials said.STX Shipbuilding, once the country's No. 4 shipbuilder, has been under the control of its creditors since April 2013 amid a protracted
Industry May 27, 2016
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Seoul says it is meaningful for Obama to mention Korean victims
South Korea said Friday that it is meaningful that U.S. President Obama explicitly mentioned Korean victims in his historic speech in Hiroshima, while visiting a memorial site honoring those killed in an atomic bombing about seven decades ago.Obama paid a visit to the Hiroshima Peace Memorial Park, where he laid a wreath for those who lost their lives and gave a speech in which he mentioned Korean victims as well. He, however, did not visit a monument dedicated to Koreans killed in the city."Whe
Diplomatic Circuit May 27, 2016
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U.N. chief Ban back in S. Korea after short trip to Japan
U.N. Secretary-General Ban Ki-moon came back in South Korea on Friday after making a short trip to Japan to attend a G7 summit.Ban, a native South Korean, landed at Gimpo International Airport, just west of Seoul, earlier in the day. After staying here for two days, he left on Thursday for Tokyo.The U.N. chief is scheduled to meet his family members, including his mother, on Saturday and have a medical check-up at a hospital in Seoul.Ban will attend the Rotary International Convention to be held
Politics May 27, 2016
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Obama pays tribute at Hiroshima nuclear memorial
Barack Obama paid moving tribute Friday to victims of the world's first nuclear attack, during a historic visit to Hiroshima.In a soaring speech watched by survivors of the atomic blast, Obama said the bomb that rent the city on August 6, 1945 "demonstrated that mankind possessed the means to destroy itself." US President Barack Obama (right) and Japanese Prime Minister Shinzo Abe turn around after laying wreaths during a visit to the Hiroshima Peace Memorial Park in Hiroshima on Friday. (AFP-Yo
World News May 27, 2016
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S. Korea endorses revised ordinance to tighten travel bans for conflict-laden countries
South Korea on Thursday endorsed a revision to the enforcement ordinance of the Passport Act to further tighten its travel bans on several conflict-laden countries, including Iraq and Syria, a move aimed at ensuring the safety of its citizens.The revision was endorsed during a Cabinet meeting presided over by President Park Geun-hye.The previous ordinance carried a clause stipulating that South Korean citizens can enter those war-prone countries only when they have to conduct humanitarian activi
Foreign Affairs April 28, 2016
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S. Korea condemns N.K. missile launch
South Korea strongly condemned North Korea for its botched launch of another intermediate-range ballistic missile on Thursday, vowing to further pressure Pyongyang to give up its nuclear and missile programs.The communist state fired off the missile early Thursday, but the launch seems to have failed, according to military officials here. The launch came less than two weeks after the North's failed launch of a similar missile."We strongly condemn the launch, which is a provocative act that is a
North Korea April 28, 2016
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N. Korea's isolation to deepen if it conducts another nuke test: S. Korean FM
North Korea will be "further isolated and abandoned" by the international community if it goes ahead with its threat of conducting a fifth nuclear test, South Korean Foreign Minister Yun Byung-se warned Thursday.Yun said the South Korean government is closely watching the latest developments in North Korea, including the possibility of another nuclear test, and putting its diplomatic resources to work with the international community to deter North Korea from advancing its nuclear capability and
North Korea April 28, 2016
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S. Korean TV programs win large contracts in France, Hong Kong fairs
South Korean companies have signed deals worth $11.16 million to export their broadcasting content at MIPTV 2016, the world's biggest TV and digital content market, early this month, the government said Thursday.The combined sales of South Korean broadcasting content were up 16 percent from last year's event according to the Ministry of Culture, Sports and Tourism and its affiliate the Korea Creative Content Agency.The KBS 2TV military-romance TV series "Descendants of the Sun" was sold to Israe
Television April 28, 2016
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CJ CGV's credit outlook 'negative' over deal to buy Turkey's cinema chain
Korea Ratings, a leading credit rating agency in South Korea, downgraded the credit outlook for CJ CGV from "stable" to "negative" Wednesday, citing a growing financial burden from its planned takeover of a Turkish cinema chain.CJ CGV, South Korea's top operator of multi-screen theaters, announced earlier that its consortium would buy Istanbul-based Mars Entertainment Group for 792 billion won ($682 million).CJ CGV plans to pay 300 billion won to secure a 38.1 percent stake.Korea Ratings noted t
Industry April 6, 2016
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Two S. Korean ships freed from Chinese custody
Two South Korean ships have been released by China after being seized for an alleged collision with a local fishing boat, officials said Wednesday.A tugboat and a barge were impounded on March 18 in the eastern Chinese port city of Ningbo after they reportedly collided with the Chinese vessel while sailing through Chinese waters west of the Korean Peninsula.Nine Chinese fishermen went missing as it sank.The owner of the ships has completed talks about compensation through an insurance firm, acco
Diplomatic Circuit April 6, 2016
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Ex-Olympic swimming champ Park Tae-hwan ruled out of Rio Games
Former Olympic swimming gold medalist Park Tae-hwan was ruled out of this year's Rio Summer Games Wednesday following a decision by the nation's top sports body.The Korean Olympic Committee (KOC) said it would not amend its rule preventing athletes who've served doping suspensions from representing the country for three years, starting on the day the suspension ends.Park recently served an 18-month suspension after testing positive for testosterone, and his ban ended on March 2.The KOC institute
Olympic Games April 6, 2016
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Diplomats criticized for taking selfies while causing protocol blunder
Some senior diplomats have found themselves in the center of controversy after being spotted taking selfies the same day a protocol error was made during President Park Geun-hye’s participation at the Nuclear Security Summit in Washington last week. Recent video footage captured the scene where U.N. Secretary-General Ban Ki-moon came to see the president before the conference’s plenary session kicked off last Friday. As the two shook hands and exchanged conversation, Choi Jong-moon, deputy minis
Diplomatic Circuit April 6, 2016
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