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Economist to lead DUP nomination panel

PoliticsFeb 1, 2012

The main opposition Democratic United Party appointed Kang Chul-kyu, Woosuk University president and former Fair Trade Commission chairman, to lead the party’s candidate nomination screening committee for the upcoming April general elections.Kang has chaired various organizations, including the Citizens’ Coalition for Economic Justice, the Regulatory Reform Committee and an anti-corruption committee, which is the former body of the current Anti-corruption and Civil Rights Commission.Throughout h
From flier to freedom

Feb 1, 2012

When Lee Ju-seong first picked up a flier on a North Korean mountain in 1995, the locals he was with told him to put it down because it was “evil.” Bur Lee could not bring himself to discard the document he found while walking in North’s Gangwon Province, not far from the South Korean border.“The people were locals to the area. They were shocked and said don’t pick up that.” Lee said. “They said that is a flier from South Korea. There is evil words and evil information there.”But Lee’s curiosity
Clothes for homeless in Seoul

Feb 1, 2012

A clothing and shoe drive is set to help homeless people in Seoul. Volunteer groups BEAN Seoul and PLUR are asking people to donate old-but-usable clothes, shoes, blankets and socks at the Presbyterian Church of the Lord in Songpa-gu, Jamsil, on Saturday from 1-4:30 p.m. The goods will then be distributed by the Korean Support Center for the Homeless. A movie on social justice and distribution of wealth will also be screened. The film, “Inside Job,” will start at 1:30 p.m. and will be followed b
Charity plans orphanage for N.K. kids

Feb 1, 2012

A charity funding bakeries to feed starving North Korean children now aims to open a home for kids abandoned or orphaned in China.There are thought to be thousands of children in northeast China whose parents have died or fled after escaping with them from North Korea, leaving them stateless and without support.The Love North Korean Children charity is raising funds after visiting a potential site for a new home to help them. Charity worker Shirley VanderSchaaf, said that the new site, complete
Francophones raise funds for orphans

Feb 1, 2012

A charity gala organized by French speakers in Korea is to take place on Feb. 18. The Association des Francophones en Core (Association of the Francophone Community in Korea) is holding the event to raise funds to provide Hye Myeong Bo Yook Won orphanage with a media library including a study area and a computer room.AFC is working with Han Design Concept, a design and project management service provider in architecture and interior design, to repeat the success of last year’s gala that raised o
Acts needed for black culture night

Feb 1, 2012

Performers are being sought to celebrate Black Beauty in Seoul on Feb. 4. The Beaute De Noir group is looking for performers and poets to contribute to a Bob Marley Birthday Bash in Itaewon. Photographers and videographers are also needed to record the event to run from 8-11:30 p.m. at Bar Ireland Yuki and then from 12-3 a.m. at Spy Club.Janet Kim, Jae Yoo, Fancy, Sarah B, Da Green, Lyric, JoshRoy, Dj Chris, Dj Rico and Elliot Ashby are already confirmed to perform. Tickets are 10,000 won and ca
Police request prosecution rethink its investigation directive

PoliticsFeb 1, 2012

The police recommended earlier this week that the prosecution rethink its directive for them to investigate a fraud case, a move that ratcheted up tension between the two over their investigative authority.On Monday, a senior official at the Namhae Police Station in South Gyeongsang Province made the recommendation to the Jinju branch under the Changwon District Prosecutors’ Office, officials said Wednesday.This marked the first such case since the modified presidential decree on the criminal in
Ahn slides for the first time in poll

PoliticsJan 31, 2012

Surge of former Roh aide makes it a three-way race Moon Jae-in, an aide to late former President Roh Moo-hyun, excelled software guru Ahn Cheol-soo for the first time in a poll of potential presidential candidates. The poll, released Tuesday by Ohmynews, a progressive online news outlet and conducted by local pollster Research View, showed Moon leading Ahn by 29.3-27.9 percent as the most suitable person to represent the liberal opposition in the presidential election at the end of the year. In
Seoul to roll back exemptions to work hour rule

Social affairsJan 31, 2012

Employers in financial services, retail, restaurants and a dozen other industries will likely be banned from having their staff work in excess of the 52-hours-a-week limit, according to a decision Tuesday by a tripartite panel of workers, employers and the government. The Korea Tripartite Commission reached an agreement to scale back exemptions from the statutory limit on weekly hours currently in effect for 26 industries to 10. The 16 sectors to be stripped of exemption include saunas, hair and
Kim named CEO of Kumho Tire

IndustryJan 31, 2012

Kumho Asiana Group on Tuesday named Kim Chang-kyu, president of Asiana IDT, the chief executive of Kumho Tire. Hwang Sun-bok, executive vice president of the conglomerate’s strategic management, was promoted to president of Asiana IDT, and Park Sang-bae, executive vice president of Asiana IDT, was assigned to the same post at Kumho Resort.Suh Jae-hwan, executive vice president of Korea Express, will head the group’s strategic management division, Kumho Asiana said in a press release.(sophie@hera
Lotte scion withdraws bakery chain business

IndustryJan 31, 2012

Bliss, French gourmet food company Fauchon’s Korean brand, said Tuesday it is withdrawing from the bakery business.“The decision came in order to comply with the government’s shared growth initiative and the public opinion to protect smaller vendors,” a Bliss official said. The move is the latest in a series of business withdrawals amid criticisms that bakery or coffeehouse chains run by chaebol offspring are fast overtaking the sales of smaller, individually-owned stores.Fauchon had been operat
Korea sells Cheongju airport rights

Jan 31, 2012

The government has sold the operational rights of an international airport in the central part of Korea to a private consortium for 25.5 billion won ($22.6 million), officials said Tuesday.The consortium will take over operational control of Cheongju International Airport, 160 kilometers south of Seoul, late this year after completing the necessary administrative process, the finance and transportation ministries said. The consortium, named the Cheongju Airport Group, is made up of Korea Aviatio
LG Chem reaches sales record in 2011

IndustryJan 31, 2012

LG Chem said Tuesday it posted 22.68 trillion won ($20.17 billion) in sales and 2.84 trillion won in operating profit last year, with its yearly sales figure recording more than 20 trillion won for the first time.The 2011 sales figure is a 16.5 percent jump from the previous year and the operating profit is also a slight increase of 0.7 percent from the same period.The company, however, said in a regulatory filing that its total sales and operating profit figures for the final quarter of last ye
E-Land going global with Dodgers bid

IndustryJan 31, 2012

E-Land chairman Park Sung-su has moved aggressively in recent years to expand the business portfolio of the nation’s leading fashion retailer. Following purchases of luxury resorts and foreign fashion brands, he now aims to buy the Los Angeles Dodgers, which declared bankruptcy last year.An E-Land official confirmed Tuesday that the company has joined a consortium to acquire the baseball club and made last Friday’s first cut. “The Dodgers are not just a baseball team, but a symbol of Los Angeles
KEB highest paying bank in Korea

Jan 31, 2012

Employee salaries at Korea Exchange Bank, Korea’s fifth-largest lender, were the highest among the country’s six largest banks, industry data showed Tuesday. KEB paid an average of 51.7 million won ($45,858) to its employees during the first three quarters of 2011, the highest among South Korea’s six lenders, according to industry data. Hana Bank, the fourth-largest lender in Asia’s No. 4 economy, had the lowest average salary in the same period with 38 million won. Following a regulatory approv