Bumpy road ahead for Korean economy

As the fate of embattled President Yoon Suk Yeol is likely to stay in limbo for longer than expected, concerns are mounting over pending economic measures that need to be addressed to rev up the country’s slowing growth. After a failed parliamentary vote on his impeachment Saturday, Han Dong-hoon, leader of the ruling People Power Party, stressed Sunday that he would push for the president’s resignation. The main opposition Democratic Party called for Yoon to immediately step down, t

EconomyDec. 8, 2024

[From the Scene] How Yoon Suk Yeol’s impeachment bill failed

The National Assembly vote on whether to impeach President Yoon Suk Yeol was left open for hours on Saturday, as 300 members of the parliament gathered for a rare weekend plenary session. The bill to impeach Yoon was put to vote four days after South Korea watched in shock as armed soldiers broke into the Assembly grounds late Tuesday, about an hour after the president declared martial law. In order to pass, the Democratic Party of Korea-led bill needed just eight votes from the ruling People Po

PoliticsDec. 7, 2024

[Latest Updates] Impeachment vote scrapped

—————————— «Prosecution names President Yoon Suk Yeol as suspect» By Lee Sun-young Published : Dec. 8, 2024 - 14:39 The Special Prosecutor’s Office said Sunday that President Yoon Suk Yeol is now a suspect facing potential charges of insurrection and abuse of power. Park Se-hyun, head of the Special Prosecutor’s Office who leads the prosecution’s investigation into last week’s martial law turmoil, co

PoliticsDec. 6, 2024

How Yoon’s fate could unfold under 4 scenarios

The opposition’s move to impeach President Yoon Suk Yeol has gained momentum, since his surprise declaration of martial law late Tuesday. The main opposition Democratic Party of Korea has accused him of committing a crime similar to treason or insurrection, which is grounds for impeachment. The Constitution protects presidents from civil lawsuits and criminal charges unless they are convicted of treason. Here are the three possible scenarios that could unfold following the opposition-led A

PoliticsDec. 5, 2024

7 in 10 Koreans want Yoon Suk Yeol impeached: survey

More than 70 percent of South Koreans want President Yook Suk Yeol removed from office over the martial law fiasco, a survey showed Thursday. According to the poll conducted by Realmeter and commissioned by a local news outlet, 73.6 percent of 504 Koreans aged 18 and older nationwide supported the president's impeachment, while 24 percent opposed the idea, and 2.4 percent said they were unsure. Yoon, in a move that plunged the nation into turmoil, declared emergency martial law late Tuesday

Social AffairsDec. 5, 2024

Why did President Yoon Suk Yeol resort to martial law?

South Korean President Yoon Suk Yeol’s declaration of emergency martial law on Tuesday has sparked widespread criticism, marking the first time in over 40 years that such a measure has been invoked. Political experts suggest that the unprecedented move is rooted in Yoon’s increasing political isolation, compounded by numerous scandals, legislative gridlock and growing tensions with both opponents and allies. Park Chang-hwan, a political commentator and professor at Jangan University,

PoliticsDec. 4, 2024

South Korean journalists condemn Yoon Suk Yeol's martial law

"This is no mere criticism -- we're waging war against President Yoon Suk Yeol." These words rang out outside the Korea Press Center in central Seoul Wednesday morning, where media representatives had gathered to decry Yoon's overnight attempt to place press operations under military control as part of his extraordinary emergency martial law decree. The press conference reaffirmed the South Korean media's unequivocal opposition to the martial law decree that, though sh

Social AffairsDec. 4, 2024

Seoul workers at global firms heave sigh of relief

Multinational companies doing business in Korea were thrown into confusion overnight as President Yoon Suk Yeol declared martial law, a drastic decision that was rescinded just six hours later. Most firms swiftly responded by issuing emergency notices, instructing employees to work remotely, while their headquarters closely monitored the situation by directing their Korean teams to report on the potential ramifications. "We stayed up all night monitoring fluctuating exchanges rates," s

IndustryDec. 4, 2024

South Korean troops return to bases as martial law to end

Troops deployed for martial law returned to their bases as President Yoon Suk Yeol agreed to lift the martial law he declared about six hours ago late Tuesday. According to the South Korean military, all troops had been called back to their bases as of 4:22 a.m. Wednesday. The South Korean military added it continued to maintain high vigilance and that nothing unusual was observed in North Korea.

DefenseDec. 4, 2024

South Korean President Yoon Suk Yeol declares martial law

In an emergency address to the nation Tuesday, President Yoon Suk Yeol declared martial law in South Korea. Yoon said at around 10:20 p.m. that the declaration was made to prevent "anti-state forces" from depriving South Korean citizens of their freedom and happiness. "I will wipe out anti-state forces as soon as possible and normalize the country's operation," Yoon said in a televised briefing in his office, less than an hour before the martial law went into effect na

PoliticsDec. 3, 2024

AI textbook in classrooms: Timely, or too early?

SEJONG -- Starting in March next year, classrooms across South Korea will see a new digital transformation. Instead of opening up textbooks, third, fourth, and seventh graders, along with first-year high school students, will turn on their digital devices to participate in class. On Monday, the Ministry of Education unveiled 76 government-certified artificial intelligence-based digital textbooks, showcasing their capabilities through a demonstration to reporters. If successfully implemented, Sou

Social AffairsDec. 3, 2024

Regulator seeks to revise law to protect small shareholders

South Korea’s top financial regulator said Monday it would seek to revise the Capital Market Act to protect individual shareholders when listed companies undertake a merger and relist after a corporate spin-off. "We prepared a proposal for the revision of the Capital Market Act with the recognition that the protection of the interests of general shareholders should be strengthened to enhance the value of the capital market," Kim Byoung-hwan, chair of the Financial Services Co

EconomyDec. 2, 2024

[Reporter’s Notebook] Inside Korea’s diplomatic failure at Japan’s memorial ceremony

South Korea's diplomatic fallout over Japan's memorial ceremony on Sado -- an event Seoul had anticipated as a tribute to Korean victims forced into labor in the island's mines -- was far from unexpected. The outcome was the foreseeable result of missteps: the South Korean Foreign Ministry's complacency and its narrow fixation on securing the presence of a high-ranking Japanese official, at the expense of addressing critical diplomatic priorities. The failure also stemmed fro

Foreign AffairsDec. 1, 2024

Ador claims exclusive contracts with NewJeans still valid

Ador, Hybe’s sublabel, claimed Thursday that its exclusive contracts with the members of the K-pop girl group NewJeans are still effective. “The exclusive contracts signed between Ador and NewJeans members are still valid. Therefore, we ask that you (NewJeans) continue to work with Ador for future engagements, just as you have been doing,” said Ador in a press release. This came soon after the group announced the termination of their exclusive contracts with their agency Ador a

K-popNov. 29, 2024

‘Green aurora’ is Seoul's color of 2025

Inspired by the splendor of green hues of the trees as the streetlights shone in the city's avenues during summer nights, the Seoul Metropolitan Government said Thursday it has chosen "green aurora" as the city's color for next year. As the municipal government expands its color palette every year to roll out the city's identity for the coming year, officials explained that the new soft-tone color aims to offer comfort and support to citizens fatigued from their everyday

Social AffairsNov. 28, 2024

Yoon receives Ukrainian special envoy; Seoul silent on possibility of weapons aid

President Yoon Suk Yeol met with a delegation from Ukraine led by the country's Defense Minister Rustem Umerov on Wednesday at his office in Seoul, according to Yoon's office. Yoon was quoted by the presidential office as saying that he hoped South Korea and Ukraine could find a practical breakthrough to counter the security threat posed by military cooperation between North Korea and Russia. Yoon's office did not disclose what Umerov said during his meeting with Yoon. Following t

PoliticsNov. 27, 2024

Why cynical, 'memeified' makeovers of kids' characters are so appealing

Disturbing to kids but amusing to older fans, cherished childhood characters have been reimagined online, far removed from their original innocent portrayals. Elsa from "Frozen" transforms into a drunkard, slurring to her sister Anna that she plans to drink more. Mickey Mouse turns out to be a bald human, hiding a receding hairline beneath a detachable wig with mouse ears. And, Winnie the Pooh, no longer the cute teddy bear, has become a weary drive-thru worker at McDonald's, sl

Hashtag KoreaNov. 27, 2024