South Korea's Vice Chief of Naval Operations Vice Adm. Kim Jung-soo will be promoted to admiral and serve as top commander of the Navy as part of a regular reshuffle of generals and admirals, the defense ministry said Friday. Kim, 59, will replace Adm. Boo Suk-jong, who has led the Navy since April last year, in what is expected to be the last senior-level shakeup under the Moon Jae-in administration whose term is set to end in May. When he officially takes office, Kim is expected to face a s

Defense Dec. 10, 2021

Young South Koreans suffered more severe employment shock than older people during the pandemic and fresh college and high school graduates faced greater difficulty in finding jobs, a report showed Friday. The employment rate for Koreans aged 15-34 reached 50.5 percent in January, down from 52.8 percent a year earlier, according to the report by the Statistics Korea Institute. The corresponding rate for people aged 35-64 came to 71.2 percent in January, down from 73.6 percent the previous year

Social Affairs Dec. 10, 2021

The Supreme Court on Friday finalized a 13-year prison sentence for a former national short track speed skating coach charged with sexually assaulting an Olympic gold medalist. Cho Jae-beom, 40, was indicted in 2019 on charges of sexually assaulting Shim Suk-hee on 27 occasions at various training facilities from August 2014 to December 2017, only two months before the 2018 PyeongChang Winter Olympics kicked off. Shim, one of the country's most prominent skaters, was 17 years old at the time

Social Affairs Dec. 10, 2021

South Korea has issued a navigational warning for ships off the east coast next week over its routine naval firing drills, officials said Friday. The Korea Hydrographic and Oceanographic Agency issued the warning earlier this week as the Joint Chiefs of Staff announced its plan for "regular maritime firing drills" in waters south of Ulleung Island in the East Sea from Monday through Friday, according to the agency officials. The agency said it informed Japan of the updated navigation

Defense Dec. 10, 2021

Top military officials of South Korea and the United States have met to discuss the possibility of conducting an assessment required for the envisioned transfer of wartime operational control (OPCON) earlier than the current plan of next fall, sources said Friday. Joint Chiefs of Staff Chairman Gen. Won In-choul and Gen. Paul LaCamera, the head of the South Korea-US Combined Forces Command (CFC), held closed-door talks Thursday to discuss the timing of the full operational capability (FOC) asse

Defense Dec. 10, 2021

Samsung Heavy Industries Co. said Friday that it has signed a 245 billion-won ($208 million) deal to build a liquefied natural gas (LNG) carrier. The deal signed with a company in Oceania calls for Samsung Heavy Industries to deliver the vessel by May 2025, the shipbuilder said in a regulatory filing. With the latest deal, Samsung Heavy Industries has won orders worth a cumulative $12 billion so far this year, surpassing its annual order target of $9.1 billion by 32 percent. By ship, Samsun

Industry Dec. 10, 2021

South Korea's military on Friday reported 30 additional COVID-19 cases, including 29 breakthrough infections, raising the total caseload among its personnel to 2,647. Of the new cases, 22 people are from the Army, two from the Marine Corps, one from the Navy, one from the South Korea-US Combined Forces Command and four from units under the direct control of the defense ministry, officials said. Currently, 332 military personnel are under treatment. Of the total military caseload, 914 are brea

Defense Dec. 10, 2021

South Korea plans to closely monitor prices of major agricultural, livestock and fishery goods starting next week in a bid to help stabilize inflationary pressure ahead of the Lunar New Year holiday, a senior government official said Friday. The government will monitor the price movements of 17 items that are mainly used for holiday preparation meals, including napa cabbage, beef, eggs and rice, according to First Vice Finance Minister Lee Eog-weon. Next year's Lunar New Holiday runs from Jan.

Economy Dec. 10, 2021

South Korea's new coronavirus cases stayed above 7,000 for the third consecutive day Friday and its caseload surpassed the grim milestone of 500,000 as the coronavirus continued to spread unabated among the unvaccinated and older adults with waning immunity. The country reported 7,022 new COVID-19 infections, raising the total caseload to 503,606, according to the Korea Disease Control and Prevention Agency (KDCA). The figure was the third highest daily total of the pandemic, after a record-hi

Social Affairs Dec. 10, 2021

South Korean stocks opened steeply lower Friday, as the country's spiking new coronavirus cases fanned concerns about tougher virus curbs. The benchmark Korea Composite Stock Price Index (KOSPI) fell 21.59 points, or 0.71 percent, to 3,007.98 points in the first 15 minutes of trading. Investor sentiment worsened as South Korea's new coronavirus cases stayed above 7,000 for the third consecutive day Friday amid the waning immunity and colder weather. Most large caps traded lower in Seoul. M

Market Dec. 10, 2021

Entertainer Yoo Jae-suk has been chosen as the top comedian of the year for the tenth consecutive year. According to the survey released by Gallup Korea on Thursday, the 49-year-old took first place in the entertainment broadcaster/comedian category of the "person of the year" for the tenth straight year, gaining 56.9 percent of votes. The pollster canvassed 1,700 people aged 13 or over across the country from Nov. 5-28, and those surveyed were asked to select up to two comedians who

People Dec. 10, 2021

GOYANG -- The head of a regional city development company allegedly connected to a massive development corruption scandal was found dead Friday in an apparent suicide, police said. Police said they discovered the body of Yoo Han-gi, head of the Pocheon Urban Corp., who was reported missing by his family early Friday, at around 7:40 a.m. near his home in Goyang, north of Seoul. Yoo reportedly left home after leaving behind a will. Yoo was a suspect in the investigation surrounding a massive de

Social Affairs Dec. 10, 2021

Booster shots for adults can be administered three months after their primary vaccination, Prime Minister Kim Boo-kyum said Friday, amid rising concerns over a surge in COVID-19 infections. The decision to cut the dosage interval between primary vaccination and booster shots for people aged 18 or older was announced as the country's daily new coronavirus infections surpassed 7,000 for the third straight day amid worries about the omicron variant, while the number of serious COVID-19 cases showe

Politics Dec. 10, 2021

South Korean stocks advanced for a seventh consecutive session Thursday amid eased concerns about the omicron variant of the new coronavirus. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 27.77 points, or 0.93 percent, to close at 3,029.57 points. Trading volume was moderate at about 496 million shares worth some 12 trillion won ($10.2 billion), with gainers outnumbering losers 656 to 187. Institutions bought a net 620 billion won, wh

Market Dec. 9, 2021

South Korea's government debt level is not high enough to negatively affect its sovereign ratings in the near future, the global credit appraiser S&P Global Ratings said Thursday. Kim Eng Tan, senior director at S&P, said Korea's debt-to-GDP ratio is expected to reach slightly more than 40 percent by the end of next year, lower than the 50 percent estimate by the Korean government. "l just state very clearly that I don't think the Korean government ratings will be negatively affec

Economy Dec. 9, 2021