The Korean daily media headlines and humor
Thursday, December 22, 2016
Your Excellency:
Here areThe Korea Postnoticesandaroundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:
Very Respectfully Yours
/s/
Lee Kyung-sik
Publisher-Chairman
Korea Post Media
The Korea Postnews
What’s ticking in Korea today?Here is a quick roundup of important news stories from the major Korean news media today:
KBS (http://world.kbs.co.kr/english/news/)
Constitutional Court to Review Parliamentary Request to Question President Park
The Constitutional Court has indicated that it will likely review a parliamentary request to have President Park Geun-hye questioned on her impeachment case.
The indication came hours after a parliamentary team said on Monday that it will file for the high court's order to bring in the president.
China Can't Support Korean Pop Culture without Resolution of THAAD Issue
A Chinese diplomat says the issue of the deployment of an advanced U.S. THAAD antimissile system to South Korea should be resolved, while denying that China has slapped a ban on Korean pop culture.
Incoming US National Security Adviser Touts Seoul-Washington Alliance
U.S. President-elect Donald Trump's choice for National Security Adviser, Michael Flynn, has stressed that the South Korea-U.S. alliance has never been stronger and firmer.
A South Korean government delegation led by Vice Foreign Minister Lim Sung-nam said that Flynn made the remark when they met in Washington.
Acting President Hwang Pushes For Quick THAAD Deployment
Acting President and Prime Minister Hwang Kyo-ahn says an advanced U.S. THAAD antimissile system should be deployed as soon as possible for the country’s security.
Deputy Foreign Minister Offers Condolences over Death of Russian Ambassador
Deputy Foreign Minister Kim Hyoung-zhin has visited the Russian Embassy in Seoul to express condolences over the death of a Russian ambassador assassinated in Turkey.
Korean American Appointed Deputy Mayor of Washington D.C.
A Korean American has been appointed a deputy mayor of Washington D.C.
Chung Hye-sook is set to become D.C. Mayor Muriel Bowser's Deputy Mayor for Health and Human Services.
S. Korea, Russia to Hold Strategic Dialogue in Moscow Friday
South Korea and Russia plan to hold their fifth strategic dialogue in Moscow on Friday.
Vice Foreign Minister Lim Sung-nam is scheduled to meet his Russian counterpart Vladimir Titov to discuss enhancing bilateral cooperation and exchange views on Korean Peninsula security issues.
FAO to Carry out Agroforestry Project in N. Korea
Voice of America said Wednesday that the Food and Agriculture Organization(FAO) will carry out an agroforestry project in North Korea to address declining farmland and forests in the poverty-stricken country.
Gov’t Denies Media Reports of Park’s Letter to Kim Jong-il in 2005
The Unification Ministry has denied media reports that President Park Geun-hye sent a letter to former North Korean leader Kim Jong-il regarding inter-Korean exchanges eleven years ago.
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Yonhap (http://english.yonhapnews.co.kr)
Parliament to quiz former Park aide during scandal hearing
South Korea's National Assembly will hold the fifth round of inquiries over an influence-peddling scandal involving President Park Geun-hye and her confidante Thursday.
S. Korea has room for additional monetary easing policy: BOK chief
South Korea has room for additional monetary easing policy next year, despite the latest U.S. rate hike, according to the head of the central bank.
SK hynix to build new chip plant in Cheongju
South Korean memory semiconductor manufacturer SK hynix said Thursday that it will invest 2.2 trillion won (US$1.84 billion) to build a plant in Cheongju, central South Korea, to mass-produce 3D NAND flash memory chips.
Korea's oldest bookstore to relaunch in Seoul
South Korea's oldest bookstore will be brought back to life 14 years after its closing, local publishers said on Thursday.
Pantech puts off plan to launch new smartphone
Pantech Co., a South Korean maker of smartphones, has temporarily postponed its plan to launch a new smartphone early next year, while instead focusing on setting up a joint venture in either Southeast Asia or Eastern Europe, an industry source said Thursday.
Top court upholds 1-year jail term for Incheon airport fake bomber
The Supreme Court on Thursday rejected an appeal against the one-year jail term imposed on a 35-year-old South Korean man convicted of placing a fake explosive with a warning in Arabic at the country's main airport early this year.
S. Korea to sell 104 tln won Treasurys next year
South Korea plans to sell 103.7 trillion won (US$86.8 billion) worth of Treasurys next year, down 5.8 percent from this year's estimated 110 trillion won, the country's finance ministry said Wednesday.
Acting President Hwang says THAAD should be deployed quickly
Acting President and Prime Minister Hwang Kyo-ahn said Wednesday that an advanced U.S. anti-missile system has to be deployed to South Korea as soon as possible to counter North Korea's growing nuclear and missile threats.
N. Korea rejects NATO's call to abandon nuclear ambition
North Korea on Wednesday dismissed a recent statement from the North Atlantic Treaty Organization (NATO) that urged the communist state to give up its nuclear ambitions, saying the matter is none of their business.
Navy conducts military exercise to defend Dokdo islets
South Korea's Navy on Wednesday conducted a maritime drill to defend the country's easternmost islets of Dokdo in the East Sea, officials said, as Japan has laid persistent claims to the sovereign territory.
Independent counsel raids pension service over Samsung deal
Special prosecutors raided the state-run pension service Wednesday to investigate whether its approval of Samsung Group's merger of two affiliates last year was influenced by President Park Geun-hye and her confidante.
Korean Air cancels over 130 flights due to pilot walkout
More than 130 scheduled flights with South Korea's largest flag carrier Korean Air Lines Co. will be cancelled due to a walkout by unionized pilots, the transportation ministry said Wednesday.
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The Korea Herald (http://www.koreaherald.com)
Parliament holds 5th round of hearings to question former Park aide
South Korea’s National Assembly on Thursday holds its fifth round of hearings to question former Presidential Secretary Woo Byung-woo over the influence-peddling scandal involving President Park Geun-hye and her confidante, Choi Soon-sil.
35 Lawmakers to quit Saenuri Party
South Korea’s ruling Saenuri Party is finally splitting, with about a quarter of its 128 lawmakers having declared their defection Wednesday to create a new political group.
Ban sends strong signal about presidential bid
UN Secretary-General Ban Ki-moon pledged to devote his life to the advancement of South Korea on Tuesday, sending the strongest signal yet that he might run in next year’s presidential election.
Did poor etiquette lead to Korea’s worst flu outbreak?
For Kim Su-yeon, a 36-year-old self-proclaimed germophobe, Seoul at this time of a year is a nightmare.
Before stepping outside, she always makes sure she has a sufficient supply of antibacterial wipes and hand sanitizers in her bag.
French art analysis firm lashes out against Korean prosecution’s report
French image analysis firm Lumiere Technology strongly refuted the Korean prosecution’s announcement that “Beautiful Woman” is an authentic piece by late artist Chun Kyung-ja.
Probe into Chung Yoo-ra intensifies
The independent counsel investigating the scandal involving President Park Geun-hye is cooperating with German authorities to extradite Chung Yoo-ra, the daughter of Choi Soon-sil, it said Wednesday.
Ministry to penalize diplomat for sex abuse
The Foreign Ministry plans to give severe penalties and pursue legal action against a diplomat who is accused of harassing at least two teenage girls while working in Chile, officials said Wednesday.
Did poor etiquette lead to Korea’s worst flu outbreak?
For Kim Su-yeon, a 36-year-old self-proclaimed germophobe, Seoul at this time of a year is a nightmare.
Before stepping outside, she always makes sure she has a sufficient supply of antibacterial wipes and hand sanitizers in her bag.
NK likely to conduct nuke test early next year: think tank
A South Korean state-run think tank said Wednesday that North Korea may heighten tensions with new nuclear and missile tests early next year as the Donald Trump administration takes over.
Independent counsel team raids pension service
Special prosecutors raided the state-run pension service and the health ministry's pensin division Wednesday as they started a full-fledged probe into an influence-peddling scandal involving President Park Geun-hye and her close friend.
Key Saenuri dissenters to leave ruling party
Ruling Saenuri lawmakers who have been at odds with President Park Geun-hye announced their intent to leave the party within the year on Wednesday, citing the incumbent leadership's reluctance to embrace reforms despite the impeachment crisis.
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The Korea Times (http://www.koreatimes.co.kr)
US rock star blasts Korean Air's 'ill-equipped' response to 'psycho' passenger
Popular U.S. rock musician Richard Marx has lashed out at Korean Air for its "ill-equipped" response to an unruly passenger on a plane he was aboard.
Ex-presidential secretary, nurse quizzed over Park Geun-hye scandal
The fifth round of inquiries over an influence-peddling scandal involving President Park Geun-hye and her confidante is underway in the South Korea's National Assembly Thursday.
35 lawmakers will quit ruling party next week
Thirty-five Saenuri Party lawmakers declared Wednesday they will leave the party Dec. 27, after criticizing the party's Assemblymen loyal to President Park Geun-hye.
Will Sewol tragedy's 'hidden truth' be uncovered at Christmas?
A Facebook group named "Zaro – Netizens' investigation team" stirred an Internet frenzy on Wednesday by announcing it will release a documentary containing "traces of the hidden truth" behind the April 16, 2014, tragedy on YouTube on Christmas Day.
Missing college student found dead in Han River
Police on Wednesday found the body of a female university student who was reported missing a week ago.
Divers searching the Han River bed found the body of Lee Soo-hyun, 19, close to Mangwon-dong at 11:15 a.m.
Candlelit protests cause air pollution: professor
A professor has caused a stir by linking the recent mass candlelit protests against President Park Geun-hye with air pollution.
On his Facebook page, Sunday, environmental science and engineering Prof.
PyeongChang Olympics banknote gets icy reception
A commemorative banknote to promote the 2018 PyeongChang Winter Olympics has been criticized for its "childish" and "substandard" design.
While some compared the design with that of a North Korean banknote, others said it had dented Korea's international reputation.
I am not accomplice, acting president says
Acting president Prime Minister Hwang Kyo-ahn dismissed criticism that he is an "accomplice" in the corruption scandal involving President Park Geun-hye, Wednesday.
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Dong-AIlbo (http://english.donga.com)
Eurasia undersea tunnel in Turkey built by Korean technology
As the world’s first two-level auto tunnel connecting Europe and Asia, the Eurasia Tunnel has been opened by the hands of Korean engineers.
SK E&C announced on Tuesday (local time) that it built a 5.4-kilometer two-level Eurasia undersea tunnel, which penetrates Istanbul to the Bosphorus Straits.
U.S. national security adviser for Trump defends THAAD deployment in S. Korea
Michael Flynn, a retired U.S. Army lieutenant general who has been designated to serve as the national security adviser for U.S. President-elect Donald Trump, said Tuesday (local time) that the deployment of U.S. troops and the planned deployment of the Terminal High Altitude Area Defense (THAAD) system in South Korea appropriate in accordance with the level of the alliance and symbolizes Seoul and Washington’s firm ties.
Sky to be decorated by meteors on Jan. 3
January 2017 is expected to awe the global citizens with meteor showers in a glittering sky.
The Korea Astronomy and Space Science Institute announced on Wednesday the major astronomical phenomenon, including the meteor shower in January, will be observable in Korea throughout the next year.
Lee Bo-mi receives five awards at JLPGA tour ceremony
Lee Bo-mi who has topped this year's JLPGA Tour is showered with honors. She has got five awards, the most award record in the JLPGA Tour history, at the JLPGA Tour award ceremony held in Tokyo on Tuesday.
Hyundai Motor’s test-driving of autonomous Ioniq in Las Vegas
Hyundai Motor has successfully tested self-driving of its autonomous vehicles the Ioniq Electric and the Ioniq Hybrid in the Las Vegas strip.
"Hyundai Motor invited journalists on last Thursday to take for a spin in Hyundai Motor’s autonomous vehicles during the day and night,” Korea’s largest automaker said.
Hundreds of articles left by U.S. correspondent return to Korea
Hundreds of pieces of items related to Dilkusha (see photo) including those left by Albert Taylor and his wife have returned to Korea.
Albert Taylor was a United Press International’s Seoul correspondent who reported the March 1 independent movement against Japanese colonial rule and the massacre in a church in Jaeamri.
Trump’s White House North
The 58-story luxurious Trump Tower, located on the Fifth Avenue in Manhattan, has become a center of American authority. Some people start calling it “White Hose North” as Trump Tower sits above the White House in Washington D.C. A flood of parodies about Trump Tower and the White House are being posted online.
National Folk Museum to exhibit Korean traditional colors
The National Folk Museum of Korea provides people with the beauty of Korea's traditional colors there.
The museum is holding a special exhibition titled "Colors that permeate through our life.
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Chosun-Ilbo (http://english.chosun.com)
More 30-Something Women Embrace Singlehood
Increasing numbers of women in their 30s are happy to stay single. Their proportion jumped from just 13.3 percent in 2005 to 28.1 percent last year, according to the latest census released by Statistics Korea on Monday.
Half of Koreans Don't Feel the Need to Marry
One in two Koreans no longer feels the need to marry and a growing number of people accept that unmarried couples live together, according to a survey by Statistics Korea. The institution of marriage is weakening, and other pressures now occupy center stage in people's life.
Low Income, Poor Education Dim Marriage Prospects for Men
Men in their 20s and 30s with low levels of education or non-regular jobs have trouble finding someone who will marry them, according to a study by the Korea Labor and Society Institute.
U.S. Curbs Financial Transactions of N.Korean Diplomats
The U.S. has imposed curbs on all financial transactions by staff of the North Korean mission to the UN and their families.
The aim is to strangle the flow of hard currency into the North Korean regime’s nuclear and missile programs.
Cancer on the Retreat
Cancer cases have dropped for the third year running and the five-year cancer survival rate has surpassed 70 percent for the first time.
According to the Ministry of Health and Welfare on Tuesday, cancer incidence stood at 289.1 in a population of 100,000 in 2014, down three years in a row after peaking at 324.9 in 2011.
Protestant Christians Now Biggest Religious Group in Korea
Protestant Christians now constitute the largest religious group in Korea thanks to the massive spread of evangelical or born-again churches, according to the latest government statistics.
Bird Flu Cull Soars to 20 Million Head of Poultry
More than 20 million birds have been culled to contain the bird flu outbreak, the Ministry of Agriculture, Food and Rural Affairs said Tuesday. That accounts for 12 percent of all poultry in Korea and marks a new record.
Choi Soon-silDenies All Charges as Trial Starts
Choi Soon-sil, the woman at the center of a massive scandal that has brought down President Park Geun-hye, on Monday entered a plea of not guilty to all charges of corruption and abuse of power.
UN Resolution Calls for Punishing Kim Jong-un
The UN General Assembly on Monday adopted a resolution referring North Korea's human rights abuses to the International Criminal Court and urging it to punish those responsible for violating human rights. In a full session at UN headquarters in New York, member states adopted the resolution by consensus, without a vote.
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HanKyoReh-Shinmoon (http://english.hani.co.kr)
Samsung’s Lee Jae-yong may have lied about Choi Sun-sil at National Assembly hearing
The special prosecutor has acquired evidence that Samsung Electronics Vice Chairman Lee Jae-yong, 48, was aware that Choi Sun-sil was pulling strings in the administration of President Park Geun-hye around July 2015, when he had a private meeting with Park, the Hankyoreh learned on Dec. 20.
Opposition pushing new legislation to root out government-business collusion
Widespread public criticisms of government-business collusion in the ongoing Choi Sun-sil government interference scandal are prompting a flood of legislation proposals for chaebol reform and economic democratization.
After impeachment, a potential “intermediate zone” in South Korean politics
A renewed push for a “third zone alliance” is emerging from politicians in the wake of President Park Geun-hye’s impeachment.
Political calculations are becoming increasingly complex ahead of expected early elections next year due to a mixture of factors including the opposition Minjoo Party scoring its highest approval rating in 18 years (40% according to Gallup Korea), increasingly evident signs of the ruling Saenuri Party’s splintering, and the imminent homecoming of UN Secretary-General Ban Ki-moon, who is seen as a top contender for president.
First preliminary hearing on Park’s impeachment to be held this week
The first preliminary hearing in the impeachment trial of President Park Geun-hye will be held on Dec. 22.
All nine judges on the Constitutional Court convened on Dec. 20 to decide to hold a preliminary hearing in the impeachment trial on Dec. 22 at 2 pm. This comes two weeks after the court received the motion of impeachment from the National Assembly on Dec. 9.
For twelfth straight year, UN adopts resolution on North Korean human rights
The United Nations General Assembly adopted a North Korean human rights resolution recommending that the Security Council consider referring the issue to the International Criminal Court (ICC).
It was the third such resolution, after previous ones in 2014 and 2015.
Prosecutors seek three years in prison for professor who wrote about comfort women
Prosecutors requested a three-year jail sentence for a Sejong University professor delivered for trial on charges of defaming survivors of sexual enslavement as Japanese military “comfort women.”
Minjoo Party announces platform inspired by candlelight revolution
The opposition Minjoo Party has announced a policy platform for the “candlelight revolution” that seeks to require the president’s schedule to be made public and to institute a recall system for the president and lawmakers. This platform is thought to be an effort to reverse policies pushed through by the current administration during the impeachment of President Park Geun-hye as well as a roadmap to gaining power in the upcoming presidential election.
Worst-ever avian influenza outbreak exposing holes in government’s prevention system
The ravages of highly pathogenic avian influenza (H5N6 AI) have far surpassed the cumulative damages from six months in 2014 one month since breaking out. 2014 held the previous record for the worst year of damages in South Korean history.
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JoongAng-Ilbo(conservative) (http://koreajoongangdaily.joins.com/)
Saenuri splitting, 35 reps plan to defect
Saenuri lawmakers outside the pro-Park Geun-hye faction said Wednesday they will defect from the party en masse next week to create a new conservative party, a move that could complicate next year’s presidential race.
Counsel will begin with a look at bribery allegations
A bribery charge involving the Samsung Group, President Park Geun-hye and her controversial friend Choi Soon-sil was revealed as the first target of an ambitious investigation launched Wednesday by an independent counsel.
Sales of Korea’s companies keep rising but hiring is weak
Even though local corporations’ sales continue to rise, the number of employees they hire is growing at a slower rate, largely due to a weak manufacturing sector, according to government data.
Yoo admits economy will face a tough 2017
The government has decided to focus next year on risk management and stabilizing the economy amid a gloomy outlook for 2017.
According to the Ministry of Strategy and Finance on Wednesday, Finance Minister Yoo Il-ho held an minister-level meeting in which the government acknowledged a poor economic environment that will likely continue into next year.
SK reshuffles at top, with younger team
SK Group’s reshuffle Wednesday placed younger managers in core positions, pushing through a generational shift among top decision-makers.
As SK recently has been embroiled in a scandal related to Choi Soon-sil, the controversial friend of President Park Geun-hye, industry insiders had expected only small changes at the empire, however, heads of its pillar affiliates SK Telecom and SK Innovation as well as the chairman for the group’s top decision-making body, SUPEX Council, have all changed.
In Korea, cash is no longer king
Cho, a 25-year-old college student, received his monthly allowance in cash when he was in high school. Now, every time he goes out to shop or eat, he mostly swipes his credit card, which he uses to pay transit fees. These days, he rarely uses notes or coins.
Lotte, IBM team up on AI effort
Your 12-year-old daughter’s birthday is coming and you have no idea what to give her.
Why not ask an artificially-intelligent chatbot smartphone app from Lotte? After hearing her hobbies and interests, it will analyze the latest trends among her age group through social network and news reports and recommend a range of gifts.
Education heads try to bar use of gov’t textbook
Fourteen education office chiefs across the country are planning to bar all high schools in their respective districts from ordering the controversial state-authored history textbooks, according to a source from a group of national educational heads.
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The KyungHyang-Shinmoon(http://english.khan.co.kr/)
Impeachment of Park Geun-hye, Saenuri Party Divided
On December 20, the non-Park members of the Saenuri Party began discussing specific plans to leave the party. Reportedly, former leader Kim Moo-sung will announce his departure from the party on December 21 and a massive exodus is expected within this week.
Two Accomplices, Park Geun-hye and Choi Soon-sil, Insist They Are Innocent after Ruining the Country
The people who abused their positions and allowed a civilian to intervene in state affairs are launching a full-scale counterattack. Choi Soon-sil denied all the charges against her in the first trial, which was held on Monday.
We Need a Hearing for the Members of the Special Parliamentary Investigation Committee
Allegations have been raised that some members of the Special Committee for the Parliamentary Investigation of the "Choi Soon-sil Case"―pro-Park lawmakers of the Saenuri Party―met with Choi's close aides and plotted perjury during the parliamentary hearing.
Once "Sincerely Sorry," Choi Soon-sil Changes Attitude, "Now the Truth Will Be Revealed"
It was 2:20 p.m. on December 19. Choi Soon-sil (60) dressed in a light brown prison uniform numbered 628 entered courtroom No. 417 at the Seoul Central District Court in Seocho-dong, Seoul for the preliminary meeting of the first trial in connection to the "Park Geun-hye, Choi Soon-sil scandal."
The Company Owned by the Father of Chung Yoo-ra‘s Friend Supplied Parts to Hyundai Motors. It Was a Way to Support SMEs
President Park Geun-hye referred to the grounds of the National Assembly’s impeachment as “allegations” in her response to the impeachment case, which she submitted to the Constitutional Court. Yet, she failed to present a specific explanation to convince the people about her leaking of confidential Cheong WaDae documents and the forced donations for the MI-R Foundation and the K-Sports Foundation.
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The Korea Economic Daily (http://english.hankyung.com/)
Gov't Does Next to Nothing in the Face of Flu Pandemics
Even though avian flu is spreading fast at an unprecedented speed, government authorities responsible for containing the epidemic are doing next to nothing.
Disease prevention experts commented that the bird flu pandemic seemed to have moved into an out-of-control stage.
Gov't to Invest $5.9 Bil.to Encourage R&D in 12 Industrial Sectors
The government will spend more than 7 trillion won (US$5.86 billion) for the next five years in R&D for 12 future growth engines such as electric car, driverless car, and next-generation semiconductors.
Steel Stocks Buoyed by Expectations of High Prices in 2017
Steel prices are on the rise on news that the prices of steel products would increase further. POSCO, the largest steel stock in Korea, closed at 264,000 won in the KOSPI market on December 21, up 1.93 percent from the previous day. Institutional investors net-bought the stock worth 7.0 billion won on the day.
Korea Investment Signs $400 Mil. Deal to Acquire Paris Building for Novartis
Korea Investment & Securities said on December 21 that it has finalized a deal to acquire a building in France's Paris in which Novartis, a multinational drug company, will soon move in.
Hanjin Shipping Sells Long Beach Terminal to MSC
Hanjin Shipping sold its core asset Long Beach Terminal to the world's No. 2 shipping line Mediterranean Shipping Co. of Switzerland. With this sale, Hanjin Shipping, which is now under a court receivership, virtually completed its asset sales procedure.
33% of Small-sized Manufacturers Said Their Working Capital Condition Worsened This Year
A survey revealed that three out of ten small-sized manufacturers saw their working capital situation get worse this year from the last. According to the Korea Federation of SMEs on December 21 based on a questionnaire on 300 small- and medium-sized enterprises, 32.6 percent said that their condition has become worse than the previous year. This is the highest level since 2012 when the figure was 37.7 percent.
Korea-China FTA Marks First Anniversary without Good Results
The Korea-China Free Trade Agreement marked the first anniversary on December 20. However, it made little significant contribution to the increase in the bilateral trade between the two countries. Rather, Korea's shipments to China fell by more than 10 percent since the passage of the Korea-China FTA.
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AJU Business Daily (http://eng.ajunews.com/korea)
Rock star Richard Marx bravely subdues drunken 'psycho' passenger
American rock star Richard Marx was praised for brave heroism after he played a crucial role in controlling what he called a "psycho" Korean passenger who went on a drunken rampage aboard a flight from Vietnam to South Korea.
Hynix unveils $1.84 bln investment to build new 3D NAND flash plant
South Korean microchip producer SK Hynix unveiled its plan Thursday to spend some 1.84 billion US dollars on the construction of a new plant for 3D NAND flash memory chips.
Hanjin faces liquidation after Long Beach terminal sale
South Korea's embattled container carrier, Hanjin Shipping, faces liquidation after a bankruptcy court approved the proposed sale of its stake in a terminal in California to a Geneva-based shipper.
BIGBANG member Taeyang reveals affection to lover
BIGBANG member Taeyang has revealed his affection towards his lover who has been in an open relationship with the singer for about three years.
S. Korea's 25th nuclear power plant put into commercial operation
South Korea's 25th nuclear power plant was put into commercial operation Tuesday, using a new home-made reactor called "APR 1400" which has been exported to the United Arab Emirates.
Doosan signs $843 mln deal for power plant in Saudi Arabia
South Kora's Doosan Heavy Industries & Construction Co. said Monday it has signed an 843 million deal to build a thermal power plant in Saudi Arabia.
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
NPS, govt offices raided for probe of suspected corruption behind Samsung C&T merger
A special prosecutor that embarked on the investigation of the influence-peddling scandal involving President Park Geun-hye and her close friend Choi Soon-sil on Wednesday raided the National Pension Service along with other government offices upon suspicion that the presidential office influenced the world’s third largest pension fund to agree to a mega merger plan of the conglomerate in return for receiving generous illicit funds.
UN Secretary-General Ban hints at running for next presidency in S. Korea
United Nations (UN) Secretary-General Ban Ki-moon said on Wednesday he would go all out to advance his homeland South Korea with his decade-long experience as UN chief, hinting that he would run for the country’s next president.
IMM Investment ventures into aircraft leasing business
South Korea’s private equity and venture capital manager IMM Investment Corp. has launched an aircraft leasing business as the company sees it lucrative thanks to the increasing number of budget airlines across the world and outbound travelers.
Hanwha estimated to post record earnings this year
Hanwha Corporation, the holding company of South Korea’s Hanwha Group, is estimated to post a record operating profit of 1.8 trillion won ($1.51 billion) this year and is expected to remain profitable next year, driven by robust sales in its defense, gunpowder and machinery sectors and improved performance of key subsidiaries.
Hyundai and Kia to boost SUV sales in 2017
South Korea’s largest automaker Hyundai Motor Co. and its sister company Kia Motors Corp. have set out to bolster the lineup of sport utility vehicles overseas and give priority support to marketing and sales in 2017, as a countermeasure to sluggish demand fed by the economic slowdown around the world.
Hyundai Sungwoo Holdings eyes Hyundai Cement takeover: sources
Hyundai Sungwoo Holdings Co., an auto components manufacturer formerly known as Hyundai Sungwoo Automotive Korea, has reportedly tendered its bid to take over Hyundai Cement Co., South Korea’s seventh largest cement manufacturer that was once part of the same family-owned conglomerate.
Samsung Elec to showcase new quantum-dot LED TV at CES 2017
Samsung Electronics Co. will unveil upgraded quantum-dot-based light emitting diode (QLED) TV at the upcoming CES 2017 trade show in Las Vegas, hoping to make a headway in the horserace over the next-generation ultra-high definition TV technology title with a technology to meet the infinite contrast ratio of organic light emitting diode (OLED) with better power efficiency and color ratio.
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