Jeju’s fire festival was canceled over climate risk. Now locals want to revive it

Since the late 90s, Korea’s southern island of Jeju has celebrated the arrival of spring by setting fire to vast fields of silver grass on the slopes of one of its famous volcanic cones. The annual event long attracted tourists and locals alike. However, the Jeju Fire Festival has been on hold for three consecutive years over safety and environmental concerns. Its resumption next March is now the subject of heated debate, with locals and environmental activists at odds. The debate center

Hashtag KoreaDec. 11, 2024

[LLG] Korea's rising star of climate activism: a former top-tier corporate lawyer

When Kim Joo-jin joined a small environmental club at Seoul National University, he had no idea it would reshape his life. From pursuing a career in law to founding an environmental non-profit organization, every step he took was fueled by the passion he discovered in his early 20s. He is now the founder of Solutions for Our Climate, an independent policy research and advocacy organization that advises and pressures policymakers and financiers to phase out fossil fuels, end coal financing, a

Hashtag KoreaDec. 11, 2024

Main opposition set to file new motion to impeach Yoon over martial law declaration

The main opposition Democratic Party is set to introduce a new impeachment motion against President Yoon Suk Yeol on Wednesday over his failed bid to impose martial law, days after Yoon avoided impeachment because most ruling party lawmakers boycotted a vote. The DP's move comes after a motion to impeach Yoon was scrapped last Saturday due to a lack of quorum as nearly all lawmakers from Yoon's ruling People Power Party boycotted the vote. Following the scrapping of the motion, the DP

PoliticsDec. 11, 2024

Govt. to invest W14tr to build 'mega port' in Busan

South Korea's oceans ministry said Wednesday the government will invest 14 trillion won ($9.75 billion) through 2045 to upgrade Busan Port, aiming to achieve the world's largest container handling capacity and establish it as the leading logistics hub in the region. Under the plan, South Korea will construct a new port in Changwon, near Busan, integrating it with the existing Busan Port to create an unified "mega port" with double the current cargo handling capacity, accordin

EconomyDec. 11, 2024

Govt. to focus on enhancing competitiveness of domestic aviation industry following Korean Air-Asiana merger

The government said Wednesday it will work to enhance the competitiveness of the domestic aviation industry while minimizing potential monopolistic harm from the soon pending merger between Korean Air Co. and Asiana Airlines Inc. The transport ministry announced an aviation industry support plan during a meeting of industries-focused ministries held at Hanwha Ocean Co.'s research and development campus in Siheung, Gyeonggi Province. To manage monopoly concerns arising from the merger, the m

IndustryDec. 11, 2024

Market stabilization measures to be fully in place amid political turmoil: finance chief

Finance Minister Choi Sang-mok said Wednesday that the government will continue to closely monitor the market and to fully implement market stabilization measures amid lingering uncertainties from a political crisis. Choi made the remarks during a daily emergency meeting with Bank of Korea Gov. Rhee Chang-yong and other top financial officials, as the government is scurrying to minimize economic impacts of President Yoon Suk Yeol's short-lived imposition of martial law last week. "As u

EconomyDec. 11, 2024

Exports increase 12.4% in Dec. 1-10 period on strong chip demand

South Korea's exports grew 12.4 percent from a year earlier in the first 10 days of this month on strong shipments of chips, data showed Wednesday. Outbound shipments reached $17.6 billion in the December 1-10 period, compared with $15.6 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports gained 11.6 percent on-year to $19.1 billion, resulting in a trade deficit of $1.55 billion. Adjusted for the number of working days, daily average exports increas

EconomyDec. 11, 2024

ADB cuts S. Korea's 2025 growth forecast to 2%

The Asian Development Bank has lowered its 2025 growth outlook for the South Korean economy to 2 percent, Seoul's finance ministry said Wednesday. The latest figure marks a 0.3 percentage-point fall from its earlier projection presented in September, the ministry said, citing the latest report by the Manila-based bank. The projection is on par with the forecasts by the International Monetary Fund and the Organization for Economic Cooperation and Development, both of which have projected 2 p

EconomyDec. 11, 2024

[영어답게 표현하기] 유용한 비즈니스 영어 표현들

이번 회에는 저희 책 Advanced Vocab에서 소개한 중상급 영단어들을 알려드립니다. 단어의 우리말 뜻을 기억하는 데에 그치지 않고, 난이도 있는 단어를 실제로 활용하는 단계까지 나아가 보기 바랍니다. 〈물리적 상태의 변화〉 1. broil [brɔ́il] 굽다 broil은 오븐처럼 막혀 있는 곳에 넣고 굽는 것을 말하며, grill은 프라이팬이나 그릴 위에 올려놓고 굽는 것을 말한다. barbecue는 우리의 숯불구이처럼 불에 바로 노출시켜 굽는다는 뜻이다. Koreans love broiled fish that is cooked until the skin is crisp. 한국인들은 껍질이 바삭해질 때까지 구운 생선을 좋아한다. ● 불고기는 굽기 전에 양념에 담가 놓는 것이 중요하다. It is important for Bulgogi to be marinated before grilled. 2. congeal [kəndʒíːl] 굳

English EyeDec. 11, 2024

Russian Embassy in N. Korea hosts reception on ratification of mutual defense treaty

The Russian Embassy in North Korea has hosted a reception to celebrate the ratification of a mutual defense treaty between the two nations, the North's state media reported Wednesday. North Korea's top officials, including Choe Ryong-hae, chairman of the Supreme People's Assembly's standing committee, Foreign Minister Choe Son-hui and Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, attended the reception Tuesday, according to the Korean Central News Agenc

North KoreaDec. 11, 2024

Trade minister promises stable business environment in meeting with US lobby group

Trade Minister Cheong In-kyo vowed efforts to maintain a stable economic environment for foreign companies operating in the country while meeting with representatives from a US business lobby group in South Korea on Wednesday amid lingering political turmoil. Cheong's meeting with officials from the American Chamber of Commerce in Korea (AMCHAM) came about a week after President Yoon Suk Yeol's controversial martial law declaration, which caused significant uncertainties in the local b

EconomyDec. 11, 2024

Seoul shares open slightly higher as martial law probe gains traction

Seoul shares opened slightly higher Wednesday as a widespread investigation into President Yoon Suk Yeol's brief martial law declaration by various law enforcement agencies gained traction. The benchmark Korea Composite Stock Price Index added 6.44 points, or 0.27 percent, to 2,424.28 in the first 15 minutes of trading. The president faces a criminal investigation in connection with insurrection and other charges related to his short-lived martial law order last week. Earlier in the day, he

MarketDec. 11, 2024

S. Korea newly adds 123,000 jobs in November: data

South Korea's job growth picked up slightly in November compared to a month earlier but the manufacturing sector alone shed nearly 100,000 positions, data showed Wednesday, signaling potential challenges for the country's export-dependent economy. The number of employed people aged 15 years and older came to 28.82 million as of the end of last month, up 123,000 from a year earlier, according to the data compiled by Statistics Korea. Despite a slight improvement compared to the previous

EconomyDec. 11, 2024

Ex-defense minister formally arrested on insurrection charges

Former Defense Minister Kim Yong-hyun was formally arrested Wednesday on charges of helping President Yoon Suk Yeol stage an insurrection through his short-lived imposition of martial law last week. The Seoul Central District Court issued a warrant for his arrest after prosecutors accused Kim of engaging in "essential" activities in insurrection and abusing his power to obstruct the exercising of rights when martial law was in place for six hours between Tuesday and Wednesday last week

PoliticsDec. 11, 2024

[Graphic News] Lee Jae-myung leads suitability for the next president

As President Yoon Suk Yeol’s declaration of martial law raises the possibility of an early presidential election, Lee Jae-myung, leader of the Democratic Party of Korea, has emerged as the leading candidate for the presidency. A survey conducted by Media Research and commissioned by the news agency Newspim polled 1,007 men and women aged 18 and older nationwide using an automatic response system (ARS) on Sunday. Respondents were asked, “Among the following individuals, who do you t

PoliticsDec. 11, 2024

[Shang-Jin Wei] Institutional reforms China needs

The Chinese stock market has rallied recently in anticipation of another round of government stimulus. This is understandable, as the authorities have rolled out multiple monetary and fiscal stimulus packages to stave off deflation and boost GDP growth. But with public debt already well above historical norms, there is limited room for further fiscal intervention without risking a future debt crisis. Given this constraint, China should focus on policies that stimulate entrepreneurship, investmen

ViewpointsDec. 11, 2024

[Trudy Rubin] Assad's fall leaves Syria's future uncertain

Syrians are dancing in the streets of Damascus and other cities, to celebrate the collapse of the hideous regime of Bashar al-Assad, the man responsible for an estimated 600,000 dead in a 13-year-long civil war -- including tens of thousands viciously tortured to death in his dungeons. Those still alive have been staggering out of liberated prisons, limping and running toward family and freedom. "This is the moment of celebration," I was told by the University of Oklahoma's Joshua

World NewsDec. 11, 2024

Court issues arrest warrant for ex-defense minister on insurrection charges

A court on Tuesday issued an arrest warrant for former Defense Minister Kim Yong-hyun on charges of helping President Yoon Suk Yeol stage an insurrection through his short-lived imposition of martial law last week. The Seoul Central District Court issued the warrant at the request of the prosecution, who accused Kim of engaging in "essential" activities in insurrection and abuse of power in connection with Yoon's declaration of martial law last Tuesday. The warrant's issuance

PoliticsDec. 11, 2024

Finance ministry vows swift execution of 2025 budget

The government will make every effort to prepare for the swift execution of next year's budget to help stabilize people's livelihoods and respond to external uncertainties, the finance ministry said Tuesday. The ministry issued the statement shortly after the National Assembly passed next year's national budget of 673.3 trillion won ($471.5 billion), following a 4.1 trillion-won cut by the main opposition Democratic Party. "The government will make every effort to prepare for

PoliticsDec. 10, 2024