Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
Cabinet defers another back-to-work order as truckers' strike loses steam
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
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Plan for 2nd presidential office in Sejong to roll out next year
South Korea is looking to map out plans by 2023 to build the second presidential office in the administrative city of Sejong, the office of Prime Minister Han Duck-soo announced Tuesday. This is part of the Yoon Suk-yeol administration's policy road map to elevate Sejong, a city that is 120 kilometers south of Seoul, to the nation's de facto administrative capital. Currently, Yoon's office is located in Yongsan-gu, center of Seoul. The government also pledged to set up measures an
Social Affairs Dec. 6, 2022
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Top pandemic adviser rules out easing indoor mask mandate
Amid growing calls to revise the indoor mask mandate, South Korea's top adviser to the Yoon Suk-yeol administration for the handling of the pandemic played down easing the mandate, citing lingering safety concerns. Jung Ki-suck, a medical pundit who chairs the Special Response Center of the Central Disaster and Safety Countermeasure Headquarters, said Monday at a briefing in Seoul that the premature decision to ease indoor mask rules could exacerbate the chance of infection for those at higher r
Social Affairs Dec. 5, 2022
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US citizen nabbed in Romania for vandalizing subway cars in Korea
A US citizen has been nabbed by the police in Romania for vandalizing multiple subway cars in at least six South Korean cities, the police said Monday. The Incheon Nonhyun Police Station has issued a request to the Romanian authorities for an extradition of the unnamed 26-year-old American detained in Romania to Korea. Police have been trying to track down the other suspect, a 27-year-old Italian. The two allegedly graffitied the exterior of stationary subway cars inside subway yards acro
Social Affairs Dec. 5, 2022
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Will ex-president Moon be targeted over border killing ‘cover-up'?
Following former national security adviser Suh Hoon’s arrest on Saturday for allegedly covering up North Korea's killing of a South Korean official in the West Sea, clashes between ruling and opposition parties are intensifying, with eyes on whether the investigation will target former President Moon Jae-in. The prosecution issued an arrest warrant Saturday at around 4:55 a.m. against former national security adviser and spy agency chief Suh after more than 10 hours of questioning, ci
Social Affairs Dec. 4, 2022
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Seoul subway returns to normal as strike ends
Seoul subway operations returned at full capacity early Thursday morning after a late-night agreement by management to withdraw a staff downsizing plan ended the strike. Some parts of Line Nos. 1, 3 and 4, however, might not run at full capacity due to separate work-to-rule action by labor unions of Korail, another subway system operator in Greater Seoul. Workers on Line Nos. 1 through 8 went on strike over revived plans to reduce staff by not replacing retiring workers. The subway operator had
Social Affairs Dec. 1, 2022
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In concession to firms, Korea to ease workplace safety law
The government will seek to revise the act on serious industrial accidents that holds business management criminally liable for deadly workplace accidents by shifting its focus from punishment to prevention. The move comes amid persistent opposition to the law from the business circles. They say the law, officially called the Serious Accidents Punishment Act, is vague in its application and opens up the possibility of abuse of power by investigative authorities. The Ministry of Labor said it wou
Social Affairs Nov. 30, 2022
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Taking Korea-Vietnam ties to next level in 30th year
Over the last three decades Korea and Vietnam have been major trade partners, played critical roles in one another's industrial supply chain and provided cultural inspiration to each other. To this day, there are countless Korean corporations searching for business and investment opportunities in Vietnam, and seeking to adapt to the shifting dynamics caused by Vietnam's exponential growth and modernization, as well as demographic and behavioral changes. These agenda will be on the tabl
Industry Nov. 30, 2022
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Seoul hit by first subway labor union walkout in 6 years
The labor union of the state-run Seoul Transportation Corp., the main operator of the Seoul Metro public transit network, began a walkout at 6:30 a.m. Wednesday, as the union refused to accept management's plan to downsize. On the sidelines of the subway union's industrial action that kicked off for the first time in six years, the union also held a rally near Seoul City Hall at 10:40 a.m., with some 6,000 people taking part. The strike is to cause the transit network of South Korea&
Social Affairs Nov. 30, 2022
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[Global Finance Awards] Qraft Technologies forays onto Wall Street with AI prowess
South Korean startup Qraft Technologies is one of the companies that has spearheaded the introduction of artificial intelligence in finance here. Since it was founded in 2016, the Seoul-based startup has proved the efficiency of AI when it comes to executing optimal equity asset allocation. The SoftBank-backed company operates four exchange-traded funds -- QRFT, AMOM, NVQ and HDIV. These funds are currently trading on, and have exposure to, North American stock bourses including the New York Sto
Market Nov. 29, 2022
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Yoon issues executive order against striking truckers as crisis bites
The government on Tuesday ordered some 2,500 cement cargo truck drivers at over 200 companies across the nation to stop their strike and return to work on the sixth day of the walkout, taking an unprecedented move as the supply crisis deepens. The order came into effect immediately after the Cabinet meeting presided by President Yoon Suk-yeol for cement truckers took place in the morning. Those who refuse to comply with the order will be subject to a suspension of their trucker license, as well
Social Affairs Nov. 29, 2022
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Yoon to review executive order to force truckers back to work
President Yoon Suk-yeol could issue an order to force truckers to return to the workplace, as he pledged Monday to take a hard-line stance on their strike, blasting them for causing serious supply chain disruptions nationwide. Yoon's office said in a statement that a Cabinet meeting will take place Tuesday to review the feasibility of the order, which has never been issued in Korea's history. Failure to comply with the order would be subject to a punishment of at most three years in jail
Social Affairs Nov. 28, 2022
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LG taps two female CEOs in unprecedented move
South Korea's fourth-largest conglomerate LG has tapped two female CEOs in its groupwide year-end reshuffle that ended Thursday. Consumer goods arm LG H&H named Executive Vice President Lee Jung-ae as the new chief executive officer, replacing Cha Suk-yong after nearly 18 years of service. Lee is one of two female CEOs to have been nominated for the first time in LG's history. Since joining LG H&H in 1986, the 59-year-old Lee has been dedicated to consumer goods marketing, and
Technology Nov. 24, 2022
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[Newsmaker] Long-awaited insurance bill reignites debate on Samsung’s ownership structure
The long-awaited bill to revise the Insurance Business Act is reigniting debate over Samsung’s ownership structure, under which its insurance arm is the largest shareholder of Samsung Electronics. The National Assembly on Tuesday for the first time put forward the revision bills in the parliament's National Policy Committee. The bills, proposed in June 2020 respectively by main opposition Democratic Party lawmakers such as Rep. Park Yong-jin and Rep. Lee Yong-woo, were the first bills to b
Technology Nov. 24, 2022
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Will Korea host Tesla 'gigafactory'?
Business tycoon Elon Musk's confirmation that South Korea is among the top candidates for Tesla's second electric vehicle production plant in Asia highlights the robust automotive parts ecosystem in Korea for cutting-edge autonomous driving technology, as well as the brand's popularity here. All eyes are on whether the fourth-largest economy in Asia could outdo other regional candidates such as Japan and Indonesia, which have richer EV consumer bases than Korea. On Wednesday, President Yoon Suk-
Technology Nov. 23, 2022
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