Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed Sunday. Since the death of late Samsung Chairman Lee Kun-hee in October 2020, his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won. According to the regulatory filing with the Fin

Industry Nov. 5, 2023

South Korea's financial regulator said Sunday that it will temporarily ban stock short selling until the second half of next year, amid efforts to crack down on illegal short selling by global investment banks. The move will be effective as of Monday and until the start of July 2024, according to the Financial Services Commission. "(The FSC) has decided to fully suspend stock short selling until (the end of) the first half of next year since there exist concerns that the expansion of

Industry Nov. 5, 2023

More than 84 percent of cattle in South Korea have been vaccinated against lumpy skin disease, with the country struggling with the rapidly spreading disease nationwide, officials said Sunday. Over 3.45 million cows out of the total 4.07 million here have received shots to protect them against LSD, which does not affect humans but is highly infectious and can lead to death, according to officials from the Ministry of Agriculture, Food and Rural Affairs. So far, the country has confirmed 78 cases

Social Affairs Nov. 5, 2023

North Korea on Sunday said military cooperation between South Korea, the United States and Japan has entered a "very dangerous stage" that could drive the Korean Peninsula into the brink of a nuclear war. No one can ensure the military campaign between the three is not leading to "a nuclear war and the third world war," the Rodong Sinmun, the North's main newspaper, said on Sunday. "We have established the strongest response strategy by arming ourselves with nuclear weap

North Korea Nov. 5, 2023

The South Korean government will set up a task force to focus on price controls for key food items, such as milk and coffee, in response to the recent spike in food prices, officials said Sunday. Under the TF, government officials will be responsible for monitoring the prices of each of the seven price-sensitive food items to keep a close eye on their prices, according to the Ministry of Agriculture, Food and Rural Affairs. The items comprise instant noodles, bread, snacks, coffee, ice cream, su

Economy Nov. 5, 2023

South Korea's unification ministry plans to hold talks with the UN Command to resume a tour program for the inter-Korean truce village of Panmunjom, according to a ministry official on Sunday. The tour program for ordinary citizens has been suspended since mid-July, when an American soldier crossed the inter-Korean border into North Korea during a tour to the Joint Security Area in the Demilitarized Zone, a rare unauthorized trip that led to his detention in the North. The soldier, Pvt. Tra

Defense Nov. 5, 2023

Foreign Minister Park Jin made a final pitch in France this week to win support for South Korea's bid to bring the 2030 World Expo to its southeastern city of Busan, his ministry said Saturday. During a visit to Paris on Thursday and Friday, Park held luncheons and dinners with the ambassadors of 12 nations likely to take part in the vote that will decide the host of the World Expo, as well as with representatives of the Bureau International des Expositions (BIE), the body responsible for overse

Foreign Affairs Nov. 4, 2023

CAIRO (Reuters) - An Israeli drone fired a missile at the Gaza house of Hamas' leader Ismail Haniyeh who is currently outside the enclave, Hamas-affiliated Al-Aqsa Radio reported on Saturday. It was unclear whether any of his family members were at the house when it was struck. Haniyeh, Hamas' political chief, has been outside the Gaza Strip since 2019, residing between Turkey and Qatar.

World News Nov. 4, 2023

South Korea and Thailand will soon hold consular talks to discuss recent complaints by Thai nationals of their allegedly unfair treatment by South Korean immigration services, Seoul's foreign ministry said Saturday. The two sides agreed to hold the talks between the directors-general for consular affairs at their respective foreign ministries, after the complaints spread on social media, with the hashtag "ban Korea travel" trending on the platform X in Thailand. According to the p

Foreign Affairs Nov. 4, 2023

Actor Lee Sun-kyun of the 2020 Oscar-winning movie "Parasite" appeared before police a second time on Saturday to undergo questioning over his suspected drug use. Lee, 48, arrived at the Nonhyeon police station in Incheon, west of Seoul, together with his attorney, to undergo questioning by the narcotic crimes investigation unit of the Incheon Metropolitan Police Agency. The actor has been accused of using marijuana and other illegal drugs at the home of a hostess working at a high-end

Social Affairs Nov. 4, 2023

North Korea appears to be diversifying its cybercrimes to offset the declining value of cryptocurrencies it steals to fund its nuclear and missile programs, a report said Saturday. According to the report by Kim Bomi, a research fellow at the Institute for National Security Strategy, North Korea stole some $340 million worth of cryptocurrencies in the first three quarters of the year, which amounts to 29.6 percent of the total damage reported in the world, but is still less than the unprecedente

North Korea Nov. 4, 2023

More than 76 percent of cattle in South Korea have been vaccinated against lumpy skin disease (LSD), officials said Saturday, as the country continues to battle the disease that can cause a drop in milk production. Over 3.1 million cows out of the total 4.07 million here have received shots to protect them against LSD, which does not affect humans but is highly infectious and can lead to death, according to officials from the Ministry of Agriculture, Food and Rural Affairs. So far, the country h

Social Affairs Nov. 4, 2023

WASHINGTON -- US Secretary of State Antony Blinken made an emphatic appeal Friday for "humanitarian pauses" in the fighting between Israel and the Hamas militant group in Gaza, saying they would facilitate efforts to bring aid to the besieged enclave and secure the release of hostages. Blinken addressed a press conference in Tel Aviv after he met with Israeli Prime Minister Benjamin Netanyahu and other officials on a trip to reiterate the United States' support for Israel, ensure

World News Nov. 4, 2023

SEOUL -- The foreign ministry expressed gratitude Friday to countries near the besieged Gaza Strip for their efforts in helping a South Korean family evacuate from the war-torn region via a border crossing into Egypt. "The government expresses gratitude to the governments of Qatar, Egypt and Israel for their efforts in ensuring the safe evacuation of five South Korean nationals," foreign ministry spokesperson Lim Soo-suk said in a commentary. "In particular, we extend our thanks t

Foreign Affairs Nov. 3, 2023

A Seoul court issued a warrant Friday to arrest the former fiance of Olympic fencing medalist Nam Hyun-hee on charges of fraud. The Seoul Eastern District Court granted the warrant for the suspect, citing the risk of flight and her inconsistent residence. Nam, the silver medalist in women's foil at the 2008 Beijing Olympics, broke up with her fiance Jeon Cheong-jo, who is 15 years younger than her, last week, days after revelations that Jeon was legally a woman and had been convicted multip

Social Affairs Nov. 3, 2023