Kim Sang-jo, South Korea’s nominee for chief of the anti-trust watchdog, said on Thursday he would apply stricter fair trade laws to the four largest chaebol when he takes office.Often called “chaebol sniper” for his longtime shareholder activism, the economics professor at Hansung University was the key economic adviser to President Moon Jae-in during his election campaign, mapping out Moon‘s key pledges on chaebol reform. “The existing regulations were based on th

Audi Volkswagen Korea, a local importer and distributor of German auto brands, is still waiting for government authorization of its Audi and Volkswagen models, but it has resumed sales of its luxury Bentley cars, the company said Thursday.Audi Korea’s request for government approval this month has led the auto industry to expect it to resume sales here in the third quarter of this year, as it took about 1 1/2 months for the Ministry of Environment to approve of Bentley, according to local report

Mixed reactions lingered Thursday in Samsung following the nomination of a chaebol expert, who was at the forefront of attacking Samsung’s three-generation governance structure, to head the nation’s antitrust watchdog. Kim Sang-jo, an economics professor at Hansung University, is a passionate critic of South Korea’s largest conglomerate. He publicly denounced the alleged collusive ties between Samsung and politics at a parliamentary hearing late last year to question chaebol owners, including Le

An official state-led investigation into Gwangju’s May 18 Democratization Movement is anticipated to get back on track, after President Moon Jae-in reiterated his commitment to carrying on the spirit of the 1980 civilian uprising. The first step of the probe will be to figure out who ordered the first firing upon civilians, an investigation which is likely to lead to the then-military commander, former President Chun Doo-hwan.“There are those who continuously try to distort and devaluate the May

LG Electronics announced Thursday it will apply Google’s voice recognizing artificial intelligence to its premium home appliance lineup under the LG Signature brand for the US market starting this month. The South Korean home electronics provider said it demonstrated Google Home-equipped LG home appliances at the Google I/O developer conference held in Mountain View, California on Wednesday. Google Home is an AI-based speaker, powered by Google Assistant. LG showcased talking to an LG Signature

Political parties should cooperate with the new Moon Jae-in administration, former presidential candidate Ahn Cheol-soo of the People’s Party said Thursday. “I hope that the Moon Jae-in administration is successful,” Ahn said at the marking of the 37th anniversary of the May 18th democratic uprising in Gwangju.  Former presidential candidate Ahn Cheol-soo of the People’s Party (Yonhap)“Under a multiparty system, various parties cooperate (with the government) on issues regarding national securit

The presidential office on Thursday raised concerns over President Moon Jae-in’s hometown city’s plans to restore his birthplace, saying that the plans may send a conflicting message. Speaking to reporters Thursday, a Cheong Wa Dae official said that while it is the prerogative of the local government to restore the president’s birthplace, the news comes at an awkward time for the new administration. President Moon Jae-in’s private residence in Geoje, South Gyeonsang Province. (Yonhap)“It is wor

President Moon Jae-in on Thursday visited Gwangju to commemorate the 37th anniversary of the May 18 Democratization Movement and express respect to a city which had refused to yield to dictatorship.“I dare tell you here and now that the new Moon Jae-in government stands in line with the legacy of the Gwangju Democratization Movement. It carries on the legacy of the 1987 June uprising, of the (late liberal President Kim Dae-jung’s) People’s Government, and of the (former President Roh Moo-hyun’s)

Digital currency bitcoin is worth more than an ounce of gold right now. It’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.When the attackers’ “ransomware” sprang into action, it held victims hostage by encrypting their data and demanding they send payments in bitcoins to regain access to their computers. One bitcoin recently traded for $1,734.65, according to Coinbase, a company that helps users exchange