The prosecution launched on Tuesday a search and seizure over KH Group's alleged interference with bidding regarding the sale of a ski resort in Pyeongchang, as well as its role in supporting illegal cash transfers to North Korea. The investigation led by the Seoul Central District Prosecutors' Office took place in about 20 locations, including offices of construction-to-electronics KH Group and state-run Gangwondo Development Corp., as well as houses of KH Group officials and former Gang

Social Affairs Dec. 27, 2022

The Chinese Embassy to Korea on Friday expressed regret over an allegation that China had operated an undercover police station in Seoul, labeling a local media report about the matter as "groundless." "I am paying attention to a report on Friday by a Korean media outlet, citing sources, that China had installed an 'overseas police station' in Seoul and a restaurant in Gangnam served as a 'location,' and I regret this media depiction," a spokesperson of th

Foreign Affairs Dec. 23, 2022

North Korea fired two short-range ballistic missiles toward the East Sea from Pyongyang's Sunan area, the Joint Chiefs of Staff of South Korea said Friday. One traveled some 350 kilometers while the other flew about 250 kilometers before falling into the sea off the east coast. South Korean military detected two missiles fired from Pyongyang at around 4:32 p.m. The latest provocation by North Korea is the first in five days following two midrange ballistic missile launches from Tongchang

North Korea Dec. 23, 2022

A fire broke out at 6:24 a.m. in a Seoul subway tunnel on Line No. 3, with smoke suspending train operations between Yaksu Station to Gupabal Station for nearly two hours, according to Seoul Transportation Corp. on Friday. The fire broke out in a tunnel between Muakjae Station and Dongnimmun Station, authorities said. Seoul Metro resumed operations between Yaksu Station and Gupabal Station at 8:12 a.m. Trains did not run for two hours in either direction as smoke plumed from the subway tunnel. N

Social Affairs Dec. 23, 2022

Floor leaders of the ruling People Power Party and the main opposition Democratic Party of Korea have reached a compromise over the budget bill proposal of 638 trillion won ($499 billion) for next year. The two parties are anticipated to pass the bill at the extraordinary plenary session of the National Assembly at 6 p.m. on Friday, with the amount reduced by nearly 5 trillion won, according to the floor leaders, a belated move as the deadline for the passage of the budget bill was Dec. 2. The c

Politics Dec. 22, 2022

South Korea's Constitutional Court on Thursday ruled in favor of the launch of the police bureau, backing the Yoon Suk-yeol administration’s moves to regain control of the police. As soon as Yoon took office, he moved to create the unit so the police would fall under government control, after the police took over most of the right to investigate by Yoon’s predecessor and the opposition-led Assembly. The National Police Commission filed the complaint on Sept. 30. The litigation w

Social Affairs Dec. 22, 2022

HANOI, Vietnam -- Key figures of South Korea and Vietnam pledged to cultivate a century-long perspective on the two nations’ shared prosperity which will lay the foundation for a shift in regional dynamics, in the wake of an upgrade in bilateral ties earlier this month. Long-lasting economic, industrial and cultural exchanges, as well as reciprocal cooperation between Korea and Vietnam are vital in the face of the global uncertainties disrupting industrial supply chains worldwide, said s

Industry Dec. 18, 2022

HANOI, Vietnam -- Behind the explosive economic growth of Vietnam, which achieved a 5 percent growth of real gross domestic product annually for two decades -- 1.7 times faster than the global average -- lies its dependence on foreign government aid for development and direct capital investment projects. As Hanoi looks to set the stage for full-fledged modernization nationwide, there is a growing need for Southeast Asia's fourth-largest economy to be independent, in part through promoting h

Industry Dec. 18, 2022

HANOI, Vietnam -- Sing-alongs at a mini concert of a legendary singer, a surprise appearance of Vietnam's national hero, eye-catching choreography, and festivities: these were the moments that captured the hearts of some 1,000 people at the Korea-Vietnam Economic Cooperation Forum 2022 held at the InterContinental Hanoi Landmark72 Friday. The event, designed to celebrate the 30 years of economic ties between South Korea and Vietnam, also hosted performances on its sidelines to mark the cu

Industry Dec. 18, 2022

A key suspect of a high-profile land corruption scandal in South Korea was sent to hospital Thursday after he stabbed himself with a knife in an apparent suicide attempt. The suspect Kim Man-bae was in stable condition, but was hospitalized in an intensive care unit of Ajou University Hospital in Suwon, Gyeonggi Province, due to injuries in his neck and chest. Kim was found by his attorney inside his private car on Wednesday. Kim, a former journalist, is one of the shareholders in asset manageme

Social Affairs Dec. 15, 2022

Herald Corp., publisher of The Korea Herald and Herald Business, will co-host a forum on Friday to shed light on how the elevated bilateral relationship engenders new opportunities between the provinces of South Korea and Vietnam. Also coming into focus are the higher standards of living in Vietnam in tandem with the nation's fast economic growth, a burgeoning manufacturing hub in the fourth-largest economy in Southeast Asia, Korea's evolving food technologies that are coming to Vietnam, as well

Industry Dec. 14, 2022

Administrative and financial support to over 7 million ethnic Koreans living outside South Korea has largely remained insufficient, despite their contributions to the growth of Korea's export-driven economy, claimed a supermarket boss who runs over 130 stores in Vietnam. "Businesses run by ethnic Koreans overseas have been at the forefront of the Korean economy," said Ko Sang-goo, president of the Vietnam-based K-Market supermarket chain operator K&K Global Trading Co., in a r

Consumer Dec. 14, 2022

President Yoon Suk-yeol on Thursday approved the Cabinet's request to issue another order mandating striking truckers to return to work, sticking to his hard-line stance against unionized workers, amid his favorability rating hitting a five-month high. The decision was made during an extraordinary Cabinet meeting where ministers agreed to impose legal means to push an end to the strikes. Supply disruptions across the nation have ground factories to a halt, hindering exports of goods from So

Social Affairs Dec. 8, 2022

South Korea's pandemic response authorities proposed on Wednesday to lift the nationwide indoor mask mandate as early as January next year, with plans for policy talks and forums beginning this month. "As long as conditions (regarding the gravity of coronavirus) are met, (the eased mask rules) will come into effect at least in January, or March at the latest," Peck Kyong-ran, commissioner of the Korea Disease Control and Prevention Agency, said in a briefing in Seoul Wednesday. Pe

Social Affairs Dec. 7, 2022

A return-to-work order for cargo truckers dedicated to carrying steel and oil was not on the table during a Cabinet meeting held Tuesday, as the striking truckers appear to be losing steam, and as cement supply across the country returns to a normal level. At the Cabinet meeting, Prime Minister Han Duck-soo reiterated the administration's stance that the government will "not compromise with unlawful acts and take stern action against any violations by law and principle." But the orders

Social Affairs Dec. 6, 2022