DIRS.INFO The most relevant business & tech news

☆ S.Korean court issues arrest warrants for former security leaders over official slain by North
▼ + stars: | 2022-10-22 | by ( Joori Roh | ) www.reuters.com time to read: +2 min

SEOUL, Oct 22 (Reuters) - A South Korean court on Saturday issued arrest warrants for a former defence minister and a former coast guard chief over their alleged mishandling of the death of a state fishery ministry employee at the hands of North Korean troops two years ago. Register now for FREE unlimited access to Reuters.com RegisterThe two face charges that include dereliction of duty, abuse of power, forging official documents, and covering up and distorting facts in the case. Lee's death has become a sensitive issue in South Korea, in part because of the fight by his brother to clear his name. The previous administration of President Moon Jae-in had portrayed his death as a failed defection attempt due to his gambling debts, mental health issues and an unhappy life. Register now for FREE unlimited access to Reuters.com RegisterReporting by Joori Roh; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ K-pop star BTS member Jin to release first solo single next week ahead of military duty
▼ + stars: | 2022-10-19 | by ( Joori Roh | ) www.reuters.com time to read: +1 min

SEOUL, Oct 19 (Reuters) - K-pop singer Jin, a member of the hit boy band BTS, will release his first official solo single next week, the seven-member band's agency said on Wednesday, following this week's announcement that he will soon start military duty. The song, titled 'The Astronaut', will be released on Oct. 28 at 1 p.m. (0400 GMT), with pre-orders to begin later on Wednesday. The announcement came after band's management group HYBE (352820.KS), which owns Bighit, on Monday said Jin will cancel a request to further delay his enlistment in late October. The other younger band members also plan to serve their compulsory service. Register now for FREE unlimited access to Reuters.com RegisterReporting by Joori Roh; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

SEOUL, Oct 19 (Reuters) - North Korea fired artillery shells off its east and west coasts late on Tuesday, South Korea's military said, after Seoul kicked off annual defence drills aimed at boosting its ability to respond to the North's nuclear and missile threats. The North fired some 100 shells into the sea off its west coast around 10 p.m. (1300 GMT) and shot a further 150 rounds off its east coast, the South's Joint Chiefs of Staff said in a statement on Wednesday. "The enemies should immediately stop the reckless and inciting provocations escalating the military tension in the forefront area." The Hoguk drills, due to end on Saturday, are the latest in a series of military exercises by South Korea in recent weeks, including joint activities with the United States and Japan. Register now for FREE unlimited access to Reuters.com RegisterReporting by Heekyong Yang and Joori Roh; Editing by Angus MacSwan and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ N.Korea fires shots to warn S.Korea, urges 'enemies' to stop causing tensions -KCNA
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Oct 19 (Reuters) - North Korea on Wednesday said it fired warning shots toward its east and west coasts to send "grave warning" against South Korea for firing dozens of artillery shells on Tuesday and urged that its "enemies" should immediately stop any provocative actions that cause military tensions, according to its state media KCNA. Register now for FREE unlimited access to Reuters.com RegisterReporting by Joori Roh Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ N.Korea fires artillery shells off east, west coasts -S.Korea military
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Oct 19 (Reuters) - North Korea fired artillery shells off its east and west coasts on Tuesday, the South Korean military said. The North fired some 100 shells into the sea off its west coast around 10 p.m. local time (1300 GMT) and shot a further 150 rounds off its east coast, the Joint Chiefs of Staff said in a statement on Wednesday. North Korea's latest military activity came after South Korean troops kicked off their annual Hoguk defence drills on Monday, designed to boost their ability to respond to North Korea's nuclear and missile threats. read moreThe drills, due to end on Saturday, are the latest in a series of military exercises by South Korea in recent weeks, including joint activities with the United States and Japan. Register now for FREE unlimited access to Reuters.com RegisterReporting by Heekyong Yang and Joori Roh; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Qatar to stage 2023 Asian Cup, most likely in early 2024
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +4 min

The Asian Football Confederation (AFC) President Shaikh Salman bin Ebrahim Al Khalifa and President of Qatar Football Association (QFA) Sheikh Hamad bin Khalifa Al Thani pose during an announcement ceremony of 2023 Asian Cup at Kuala Lumpur, Malaysia October 17, 2022. Asian Football Confederation/Kamarul Akhir/Handout via REUTERSKUALA LUMPUR, Oct 17 (Reuters) - Qatar will stage the next Asian Cup in place of original hosts China, the Asian Confederation (AFC) announced on Monday, with the tournament likely to be moved from mid-2023 to early 2024 to avoid the heat of the Gulf summer. The Asian Cup is held every four years. The QFA is proposing all eight be used for the Asian Cup, Al Salat said. Qatar was also one of three nations bidding to stage the 2027 edition of the Asian Cup after Iran and Uzbekistan withdrew expressions of interest.

Kakao shares plunged as much as 9.5% on Monday to their lowest since May 2020, wiping out 2 trillion won ($1.39 billion) in market capitalisation at one point, while shares in affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) lost more than 8% before paring losses. South Korea's technology ministry is probing whether the outage violated any laws while the communications regulator is reviewing the matter, including questions of user compensation, officials said on Sunday. An initial probe on Sunday found electrical issues around battery racks in third basement floor of the data centre, which is operated by SK C&C (034730.KS), may have caused the fire. REPUTATIONAL HITThe Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. It said on Monday it would discuss compensation with data centre operator SK C&C for losses it and its key units have sustained.

☆ Kakao shares slump as outage sparks calls for regulatory scrutiny
▼ + stars: | 2022-10-17 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

Kakao shares plunged more than 9% on Monday to their lowest since May 2020, while shares in Kakao affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) also plunged more than 8% in morning trade. Police and the National Forensic Service are conducting a second investigation on Monday at the data centre, which is operated by SK C&C (034730.KS). After an initial probe on Sunday, police said electrical issues around battery racks in third basement floor of the data centre may have caused the fire. It said in a regulatory filing on Monday that after it normalises services, it will discuss compensation with data centre operator SK C&C for losses sustained by Kakao and its key units. A Kakao spokesperson declined to provide the total number of servers it uses, citing security concerns.

☆ Kakao shares slump after widespread service outage
▼ + stars: | 2022-10-17 | by ( Joyce Lee | ) www.reuters.com time to read: +2 min

SEOUL, Oct 17 (Reuters) - Shares in South Korea's Kakao Corp (035720.KS) plunged more than 9% on Monday after a fire at a data centre south of Seoul damaged servers on the weekend, causing an extensive service outage in the country's main chat app. President Yoon Suk-yeol said on Monday that Kakao's services are "like a fundamental national telecommunications network as far as the public is concerned," and follow-up measures over the service outage will be pursued. Kakao shares fell to its lowest since May 2020, while shares in Kakao affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) also plunged more than 8% in morning trade. A Kakao spokesperson told Reuters on Monday services such as messaging have been restored, but miscellaneous services are still being restored. Kakao said on Monday the financial effects of a widespread service outage were expected to be limited on Kakao and its key units.

☆ S.Korea president pledges to build strong readiness against N.Korea threats
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Oct 14 (Reuters) - South Korean President Yoon Suk-yeol on Friday said his government has been working on building a watertight readiness posture against North Korea's provocations since he took office, following North Korea's missile test and deployment of military aircraft that flew near the border dividing the two countries. Register now for FREE unlimited access to Reuters.com RegisterReporting by Choonsik Yoo, Joori Roh; Editing by Christian SchmolingerOur Standards: The Thomson Reuters Trust Principles.

Joo and Shin voted for a smaller hike in the rate, Rhee said in news conference, but did not elaborate on their views. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023. Almost half of respondents in the Reuters poll expected the base rate to reaching 3.75% in the first quarter of next year. After Wednesday's rate hike, the Korea Federation of Small- to Medium-sized Enterprises expressed "serious concern" about higher rates.

The Bank of Korea (BOK) raised its benchmark policy rate (KROCRT=ECI) by 50 basis points to 3.00% on Wednesday, bringing total rates hike since August last year to 250 basis points. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. "The 50 bp hike today was the BOK's response to the sinking won, it seems." South Korea's three-year treasury bond futures fell after the BOK's statement on the decision. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023.

SEOUL, Oct 13 (Reuters) - North Korean leader Kim Jong Un oversaw the launch of two long-range strategic cruise missiles, state media reported on Thursday, calling it a test to confirm the reliability and operation of nuclear-capable weapons deployed to military units. It was not immediately clear if the launches were detected by authorities in South Korea, Japan, or the United States, which often monitor and release information on North Korean weapons activities. North Korea first tested a "strategic" cruise missile in September 2021, seen by analysts at the time as possibly the country's first such weapon with a nuclear capability. The cruise missiles are among a number of smaller weapons recently developed by North Korea seen as being able to fly low and maneuver in order to better evade missile defences. North Korea's cruise missiles usually generate less interest than ballistic missiles because they are not explicitly banned under U.N. Nations Security Council resolutions.

☆ North Korea fired two ballistic missiles off east coast, South says
▼ + stars: | 2022-09-29 | by ( Joori Roh | ) www.reuters.com time to read: +1 min

SEOUL, Sept 29 (Reuters) - North Korea fired two ballistic missiles off its east coast on Thursday, South Korea's military said, following the firing of two short-range ballistic missiles a day earlier and one on Sunday. "South Korean military detected two short-range ballistic missiles fired from Sunchon, South Pyongan province, toward the east coast between 8:48 p.m. and 8:57 p.m. ... Amid strengthened surveillance and vigilance, our military maintains full preparedness while working closely with the U.S.," the Joint Chiefs of Staff said. The launch came as U.S. Vice President Kamala Harris ended a visit to South Korea, during which she was strongly critical of the reclusive nation. South Korea and its allies are concerned that the North is about to conduct a nuclear test – which would be the seventh since 2006 and its first since 2017. South Korean lawmakers briefed by the country's spy agency said on Wednesday the North has completed preparations for a nuclear test and a possible window for carrying it out could come between Oct. 16 and Nov. 7.

☆ N.Korea says it has never supplied weapons or ammunition to Russia - KCNA
▼ + stars: | 2022-09-21 | by ( Joori Roh | ) www.reuters.com time to read: +2 min

State flags of Russia and North Korea fly in a street near a railway station during the visit of North Korea's leader Kim Jong Un to Vladivostok, Russia April 25, 2019. REUTERS/Yuri MaltsevSEOUL, Sept 22 (Reuters) - North Korea on Thursday said it has never supplied weapons or ammunition to Russia and has no plans to do so, while warning the United States to "keep its mouth shut" and stop circulating rumours aimed at "tarnishing" the country's image. The United States has also accused Iran of supplying drones to Russia for use in its war in Ukraine, which Tehran has denied. Russia also denied the allegations and demanded the United States to provide evidence. read moreRussia and North Korea have recently talked up their ties.

☆ South Korea plans reforms to tackle 'Korea discount' for its stocks
▼ + stars: | 2022-09-20 | by ( Joori Roh | ) www.reuters.com time to read: +3 min

A woman talking on the phone walks past an electronic board of the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange (KRX) in Seoul, South Korea, January 20, 2016 REUTERS/Kim Hong-Ji/File PhotoSEOUL, Sept 20 (Reuters) - South Korea plans to announce financial reforms later this year, including its policy on shareholder returns, that could help reduce the "Korea discount" in stock markets, a senior government official told Reuters on Tuesday. The "Korea discount" refers to a tendency for South Korean companies to have lower valuations than global peers due to factors such as low dividend payouts, the dominance of opaque conglomerates known as chaebols and geopolitical risks involving North Korea. Register now for FREE unlimited access to Reuters.com RegisterSome of the policies the authority is looking into include dividend policy, registration requirements for foreign investors and corporate filings. "(South Korea's) current dividend policy does not meet the global standard and has been mentioned several times by foreign investors ... In South Korea, unlike other major economies, companies confirm dividend amounts weeks after the so-called ex-date - after which buyers of the stock do not receive the payout - creating uncertainty for investors.

Search resuls for: "Joori Roh"

16 mentions found