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☆ South Korea Needs Foreign Workers, but Often Fails to Protect Them
▼ + stars: | 2024-03-02 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

But the nation is more dependent than ever before on an import to keep its factories and farms humming: foreign labor. This shift is part of the fallout from a demographic crisis that has left South Korea with a shrinking and aging population. President Yoon Suk Yeol’s government has responded by more than doubling the quota for low-skilled workers from less-developed nations including Vietnam, Cambodia, Nepal, the Philippines and Bangladesh. Hundreds of thousands of them now toil in South Korea, typically in small factories, or on remote farms or fishing boats — jobs that locals consider too dirty, dangerous or low-paying. With little say in choosing or changing employers, many foreign workers endure predatory bosses, inhumane housing, discrimination and other abuses.

Persons: —, Yoon Suk Organizations: Samsung, Hyundai, LG Locations: South Korea, Vietnam, Cambodia, Nepal, Philippines, Bangladesh

☆ Mark Zuckerberg's Asia trip is all about making AI friends
▼ + stars: | 2024-02-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg isn't just in Asia to enjoy Japanese McDonald's and hit the ski slopes. The meetings will put Meta's AI and mixed reality ambitions front and center as competition grows. The likes of Meta's AI chief Yann LeCun have pushed back on suggestions that open-source AI is dangerous because the sheer volume of resources any bad actor would need to use an AI model maliciously makes it highly untenable. Meta's mission to build businessPoliticians won't be the only thing on Zuckerberg's mind on his Asian trip. Meta's line of mixed reality headsets, the Quests, finally face a formidable foe following Apple's release of the Vision Pro this month.

Persons: Mark Zuckerberg isn't, —, Mark Zuckerberg, Kokaji, Zuckerberg, Fumio Kishida, Sam Altman, Kishida, Yoon Suk, OpenAI's Altman, FABRICE COFFRINI, Yann LeCun, ROBYN BECK, Getty Zuckerberg, Jay Y, Lee Organizations: Service, Japan's, Japan Times, South, Bloomberg, Economic, Business, Meta, Vision, Apple, LG Electronics, Samsung Locations: Asia, Japan, Davos, South Korea, Switzerland, Seoul

☆ South Korean companies are offering workers $75,000 to have babies amid the country's desperate bid for more children
▼ + stars: | 2024-02-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Some South Korean companies are giving out $75,000 bonuses to employees who have kids. The fertility rate in South Korea was 0.78 in 2022, far lower than the 2.1 it needs to maintain its population. AdvertisementA South Korean firm is offering employees up to $75,000 to have children and help lift the country's ailing birth rate. The company will take responsibility and put all-out efforts to help the country increase the fertility rate," a company spokesperson, per the outlet. South Korean President Yoon Suk Yeol on February 13 ordered his administration to develop tax incentives and subsidies for companies that encourage their employees to have children.

Persons: —, dwindles, Yoon Suk Organizations: Booyoung, Ssangbangwool, Service, Korea Herald, Booyoung Group, CNN Locations: South Korea, Seoul, China, Japan, South

☆ Meta's Mark Zuckerberg to visit South Korea
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: +1 min

Meta's Mark Zuckerberg plans to visit South Korea, scheduling key meetings during the trip, according to a statement by Meta on Wednesday, which did not provide further details. Meta's Mark Zuckerberg is planning to visit South Korea and is scheduling key meetings during his trip, Meta said in a statement on Wednesday without elaborating. The Meta CEO may also meet South Korean President Yoon Suk Yeol, the paper said. It would be his first known visit to South Korea since 2013. A presidential official confirmed that Zuckerberg had sought a meeting with Yoon, without providing further details.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, Yoon Suk Yeol, Yoon Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, South, Samsung Locations: South Korea, Seoul, South Korean

☆ Kim Jong Un has broken with decades of North Korean policy – does it mean he’s planning for war?
▼ + stars: | 2024-02-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +14 min

The two sides have been cut off from each other since 1953, when an armistice ended the Korean War, and remain technically at war. Yoon and Biden have sharpened their countries’ deterrence plans and coordination in the face of North Korea’s threats and weapons development. If anything, some analysts believe, North Korea’s public statements signal that North Korea is abandoning its reunification policy in pursuit of peace on the peninsula. Vladimir Smirnov/AFP/Getty ImagesAn ‘emboldened’ KimThe North Korean leader may also feel more confident about his arsenal and his options as he watches a shifting global landscape. “Kim Jong Un is wary of a full-scale provocation by the South Korean military disguised as a military exercise and has vowed to occupy South Korean territory without hesitation,” said Lim in Changwon.

Persons: Kim Jong, South Korea –, ” Kim, ”, Kim, ’, Robert Carlin, Siegfred Heckler, Chul Lim, “, Joe Biden, Donald Trump, Edward Howell, Yoon Suk Yeol, Ayse, ” He’s, Yoon, Biden, Seoul . Kim, Trump, Lim, “ That’s, Kim Jong Un, Vladimir Putin, Vladimir Smirnov, ’ Kim, “ Kim Jong, …, Rachel Minyoung Lee, Howell, “ Kim Jong Un, Lee, Japan – Organizations: CNN, South, Korean Central News Agency, Reuters, North Korea Research Center, University’s Institute, Far Eastern, University of Oxford, Japan, Ewha Womans University, US, North, Russia's Vostochny, Getty, Stimson, –, White, United Nations Security Council, West, South Korean Defense Ministry, ”, Trump, North Korean Locations: Ukraine, Gaza, North Korea, South Korea, Korea, Republic of Korea, Kim, Washington, Seoul, Tokyo, United States, Korea’s, Changwon, Pyongyang, Russia, United Kingdom, Japan, Guam, Gon, Seoul ., Russian, Russia's, China, Iran, denuclearization, Western, North, Moscow, Beijing, Oxford, Jeju, South, “

☆ The Antitrust Enforcers Aimed at Big Tech. Then Came the Backlash.
▼ + stars: | 2024-02-16 | by ( Jin Yu Young | Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

The South Korean government unleashed a wave of panic across the internet industry: The country’s antitrust regulator said it would enact the toughest competition law outside Europe, curbing the influence of major technology companies. The Korea Fair Trade Commission, with the backing of President Yoon Suk Yeol, said in December that it planned to make a proposal modeled after the 2022 Digital Markets Act, the European Union’s landmark law to rein in American tech giants. This bill also seemed to target South Korea’s own internet conglomerates just as much as the Alphabets, Apples and Metas of the world. The commission said the law would designate certain companies as dominant platforms and limit their ability to use strongholds in one online business to expand into new areas. After a furious backlash from South Korean industry lobbyists and consumers, and even the U.S. government, the Fair Trade Commission said it would delay the bill’s formal introduction to solicit more opinions.

Persons: Yoon Suk Yeol Organizations: South, Korea Fair Trade, ., Fair Trade Commission Locations: Europe, South

SEOUL, South Korea (AP) — South Korean President Yoon Suk Yeol’s office said Wednesday that presumed North Korean hackers breached the personal emails of one of his staff members ahead of Yoon's trip to Europe in November. Yoon’s office said the cyberattack only affected the personal account of the unidentified employee, who violated security protocols by partially using commercial email services to handle official duties. “We detected the case in advance of (Yoon’s) visit and took necessary measures,” Yoon’s office said in a statement to reporters. North Korea-backed hackers have also been accused of stealing information from outside governments, businesses and think tanks. While the country has denied involvement, North Korea has been linked to major cyberattacks in past years, including a 2013 campaign that paralyzed the servers of South Korean financial institutions, the 2014 hacking of Sony Pictures, and the WannaCry malware attack of 2017.

Persons: Yoon Suk, Yoon’s, “, ” Yoon, King Charles III, Rishi Sunak Organizations: The Associated Press, Sony Pictures Locations: SEOUL, South Korea, Europe, North Korea, Britain, France, U.S, Korean

TAIPEI, Taiwan (AP) — With fireworks, feasts and red envelopes stuffed with cash for the kids, numerous Asian nations and overseas communities have welcomed Saturday the Lunar New Year. It begins with the first new moon of the lunar calendar and ends 15 days later on the first full moon. Firing bottle rockets and other fireworks is a traditional way of welcoming the new year and seeing off any lingering bad memories. Royal palaces and other tourist sites were also packed with visitors wearing the country’s colorful traditional “hanbok” flowing robes. Parades and commemorations are also being held in cities with large Asian communities overseas, particularly in New York and San Francisco.

Persons: Lai Ching, Han Kuo, Tsai, “, ” Tsai, Yoon Suk Yeol Organizations: Nationalist Party Locations: TAIPEI, Taiwan, China, Seoul, Southern, Paju, North Korea, Vietnam, New York, San Francisco

☆ How a Dior bag shook South Korean politics
▼ + stars: | 2024-02-09 | by ( Yoonjung Seo | Nectar Gan | ) edition.cnn.com time to read: +15 min

Seoul, South Korea CNN —South Korean President Yoon Suk Yeol is months out from a crucial election seen as a barometer of his mid-term popularity, but surveys show he has a big problem – the latest scandal surrounding his wife. “But with the Dior bag, there is this powerful visual evidence.”South Korean President Yoon Suk Yeol and his wife, Kim Keon Hee, attend an Independence Movement Day event in Seoul on March 1, 2023. The channel also provided Choi with the wristwatch and the Dior bag, according to the pastor. By appearing to not reject the bag, Kim gave ammunition to critics who have long accused her of using her position for personal gain. In a Gallup Korea survey last month, 56% of respondents said Kim should apologize for allegedly receiving the Dior bag.

Persons: Yoon Suk Yeol, Kim Keon Hee, Yoon, Kim, Dior, “, ”, Cho Hee, Jung Yeon, Choi Jae, Choi, Yoon Suk, ” Yoon, Shin Pyeong, ’, Cho, it’s, Hongik University Choi, Kim Yun, Park, hye, Patrick van Katwijk, Marie Antoinette, Han Dong, Han, he’d, Leon Neal, ” Kim, ” Kim Yun, Kyung Hee University “ She’s, Deutsch, Kim’s Organizations: South Korea CNN — South, CNN, Hongik University, “, Getty, of, KBS, Kyung Hee University . South, Gallup Korea, Gallup, Power Party, Democratic Party, PPP, South, Kyung Hee University, Kookmin University, Deutsch Motors, BMW Locations: Seoul, South Korea, American, of Seoul, North Korea, Pyongyang, Netherlands, Gallup Korea, Bali , Indonesia, Korea

☆ South Korea's Yoon Vows Clearer Rules After Wife's 'Dior Bag Scandal'
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

By Heekyong Yang and Josh SmithSEOUL (Reuters) - The release of hidden camera footage showing South Korea's first lady accepting a Dior bag as a gift was a "political manoeuvre", President Yoon Suk Yeol said on Wednesday, but vowed to draw clearer lines to ensure such incidents do not happen again. The comments were his first public response to a controversy, dubbed the "Dior bag scandal" by local media, that has roiled his ruling party ahead of a key election in April. "What's important is to set clearer boundaries with others to prevent something like this from happening in the future." A Gallup Korea weekly poll on Friday showed that Yoon's approval ratings had fallen to 29%, the lowest in nine months. (Reporting by Heekyong Yang and Josh Smith; Additional reporting by Ju-min Park, Editing by Kylie MacLellan)

Persons: Heekyong Yang, Josh Smith SEOUL, Dior, Yoon Suk Yeol, Kim Keon Hee, Yoon, it's, Kim's, Abraham Choi, Josh Smith, Kylie MacLellan Organizations: People Power Party, KBS, Reuters, Gallup Korea Locations: North Korea, April's

☆ Samsung chief Lee cleared of charges in 2015 merger case
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. Executive Chairman Lee Jae-yong leaves after attending a final decision at the Seoul Central District Court on Feb. 05, 2024 in Seoul, South Korea. Seoul Central District Court acquits Samsung Electronics Co. Executive Chairman Lee Jae-yong in controversial 2015 merger case. Samsung Electronics Chairman Jay Y. Lee was found not guilty by a Seoul court on Monday in a case related to irregularities in a 2015 merger of Samsung affiliates that prosecutors said was designed to cement his control of the tech group. Lee denied wrongdoing, arguing that he and other executives acted on the belief the merger would benefit shareholders. The sentence prevents a return to jail for Lee who was convicted in 2017 of bribing a friend of former President Park Geun-hye.

Persons: Lee Jae, Jay Y, Lee, Prosecutors, Park, Yoon Suk Organizations: Samsung Electronics Co, Seoul Central, Court, Samsung Electronics, Samsung Locations: Seoul, South Korea

SEOUL, South Korea (AP) — A South Korean court on Monday acquitted Samsung Electronics Chairman Lee Jae-yong of financial crimes involving a contentious merger between Samsung affiliates in 2015 that tightened his grip over South Korea’s biggest company. The court said the prosecution failed to sufficiently prove the merger between Samsung C&T and Cheil Industries was unlawfully conducted with an aim to strengthen Lee’s control over Samsung Electronics. Lee had denied wrongdoing in the current case, describing the 2015 merger as “normal business activity.”Lee, 56, did not answer questions from reporters as left the court. Lee Jae-yong served 18 months in prison after being convicted in 2017 over separate bribery charges related to the 2015 deal. Some shareholders had opposed the 2015 merger, saying that it unfairly benefited the Lee family while hurting minority shareholders.

Persons: Lee Jae, Lee, ” Lee, Jin Kim, Lee Kun, Park, Yoon Suk, tycoons, Kim Tong, hyung Organizations: Samsung, Korea’s, Seoul Central, Cheil Industries, Samsung Electronics, Prosecutors, South, National Pension Service Locations: SEOUL, South Korea, Seoul, Ukraine

☆ Opinion: Kim Jong Un wants the world to take his threat seriously
▼ + stars: | 2024-02-02 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

CNN —The world once again is trying to parse the stance of North Korean dictator Kim Jong Un. After North Korea was defeated, the fighting stopped with a 1953 armistice but a peace agreement was never reached. Kim has certainly been signaling that something fundamental has shifted and he clearly wants the world to take his threats seriously. For decades the Democratic People’s Republic of North Korea or DPRK, has had two explicit goals. The warning about North Korea cannot be ignored, and the US, South Korea and Japan should update their planning.

Persons: Frida Ghitis, Kim Jong, Kim, Donald Trump, Kim “, ”, Robert Carlin, Siegfried Hecker, Carlin, Hecker, North, Kim Il Sung, Yoon Suk Yeol, ” Carlin, Kim bluster, Trump, Biden, Vladimir Putin, what’s Kim, It’s, he’s, Putin Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, West, Democratic People’s, South, Ukraine, Korean, Politico Locations: Korean, Frida Ghitis CNN North Korea, Ukraine, North Korea, South Korea, North, Democratic People’s Republic of North Korea, DPRK, Seoul, United States, Korea, Russia, East Asia, Japan, China, Moscow, Pyongyang

☆ The First Lady and the Dior Pouch: A Political Crisis Grips South Korea
▼ + stars: | 2024-02-01 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

Then came a much more personal scandal: spy cam footage that showed his wife accepting a $2,200 Dior pouch as a gift. The video of Ms. Kim, which emerged late last year, has caused a rift between Mr. Yoon and one of his most trusted lieutenants. It has roiled his political party — one senior member called on Ms. Kim to apologize and compared her to Marie Antoinette. For nearly two years, Ms. Kim has challenged how this deeply patriarchal society views the role of the presidential spouse. She has talked about Mr. Yoon’s devotion to her, saying in 2022 that he had vowed to cook for her and “kept that promise for the past decade.”

Persons: Yoon Suk, Kim Keon Hee, Kim, Yoon, Marie Antoinette, “, ” Locations: South Korea, United States, Japan

SAN DIEGO (AP) — Free-agent reliever Wandy Peralta and the San Diego Padres have agreed to a $16.5 million, four-year contract, a person with knowledge of the deal said Wednesday. The person spoke with The Associated Press on condition of anonymity because the deal was pending a physical exam and hadn’t been finalized. The 32-year-old left-hander spent the last three seasons with the New York Yankees. While they still have big holes elsewhere heading into spring training, the budget-minded Padres at least have a well-stocked bullpen. The Padres have only two outfielders on their active roster and need to firm up their rotation behind Yu Darvish, Joe Musgrove and Michael King.

Persons: Wandy Peralta, hadn’t, Woo, Suk, Yuki Matsui, Robert Suarez, Josh Hader, flopping, Yu Darvish, Joe Musgrove, Michael King, King, Juan Soto, Trent Grisham, ___ Organizations: DIEGO, San Diego Padres, Associated Press, New York Yankees, Padres, Houston, Yankees Locations: South Korea, Japan, Diego, New York

Seoul, South Korea CNN —Seoul’s police chief has been indicted for negligence over the 2022 crowd crush that killed more than 150 people during Halloween festivities in the popular Itaewon neighborhood that left the nation reeling. South Korean police on Monday confirmed that Kim Kwang-ho, head of the Seoul Metropolitan Police Agency (SMPA), had been indicted in connection with the tragedy – the most senior police officer charged over the incident. Four police dispatches were sent out to Itaewon, which had hosted Halloween celebrations in Seoul for years. Rescue officials and police gather in the district of Itaewon in Seoul on October 30, 2022. “For me, Halloween and the Itaewon tragedy are (inextricably) linked,” she said.

Persons: South Korea CNN —, Kim Kwang, Kim, ”, Anthony Wallace, Yoon Suk Yeol, Lee, “ Organizations: South Korea CNN, South Korean, Seoul Metropolitan Police Agency, ” Reuters, South Koreans, Rescue, Getty, South, Seoul police, CNN Locations: Seoul, South Korea, Itaewon, AFP, South

☆ North Korea’s Kim vows to dismantle father’s unification arch as he declares South Korea ‘principal enemy’
▼ + stars: | 2024-01-16 | by ( Brad Lendon | Gawon Bae | ) edition.cnn.com time to read: +6 min

The Kim family, beginning with Kim Il Sung, has ruled North Korea since its post-World War II founding in 1948. It symbolizes the efforts of Kim Jong Il and Kim Il Sung to set guidelines for uniting North and South Korea. South Korea not backing offOn Tuesday, South Korean leader Yoon Suk Yeol said his government will not be cowed by Kim’s latest threats. “If North Korea provokes, we will punish them multiple times as hard,” Yoon said at a Cabinet meeting in Seoul. Yoon, who has taken a much harder line on North Korea than his predecessors, said the South’s quarrel was with the Kim regime, not the people of North Korea.

Persons: Kim Jong Un, ”, Kim, Kim Jong Il, Kim Il, Kim Il Sung, “, Kim Jong, Jeong Eun, National Reunification ’ …, ’, ” Kim, KCNA, Leif, Eric Easley, “ Kim, ” KCNA, Yoon Suk Yeol, ” Yoon, Yoon Organizations: South Korea CNN — North, People’s Assembly, North Korean, Korea Institute for National Unification, National Reunification, Ehwa University, Democratic People’s, North, CNN, National Economic Cooperation Bureau, Kumgangsan, Tourism Administration, ROK, DPRK, United Nations, NLL Locations: Seoul, South Korea, Pyongyang, North Korea, North, Democratic People’s Republic of Korea, DPRK, North Korea’s, Republic of Korea, Korean, Korea, South

☆ North Korea's Kim Calls for South to Be Seen as 'Primary Foe', Warns of War
▼ + stars: | 2024-01-15 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

Kim said the constitution should be amended to educate North Koreans that South Korea is a "primary foe and invariable principal enemy" and define the North's territory as separate from the South. "We don't want war but we have no intention of avoiding it," Kim was quoted as saying by KCNA. South Korean President Yoon Suk Yeol, at a cabinet meeting, said Pyongyang was being "anti-national" for calling the South a hostile country. Analysts have said North Korea's foreign ministry could take over relations with Seoul, and potentially help justify the use of nuclear weapons against the South in a future war. Ruediger Frank, professor of East Asian Economy and Society at the University of Vienna, said Kim's new policies "will trigger a cascade of changes across inter-Korean relations and regional dynamics".

Persons: Hyunsu Yim, Kim Jong Un, Kim, KCNA, Yoon Suk, Ruediger Frank, Frank, Josh Smith, Lisa Shumaker, Jonathan Oatis Organizations: Supreme, Assembly, North, East Asian, Society, University of Vienna, U.S Locations: Hyunsu Yim SEOUL, Korea, North, Seoul, North Koreans, South Korea, KCNA . North Korea, South, Pyongyang

SEOUL, South Korea (AP) — North Korea on Monday claimed it flight-tested a new solid-fuel intermediate-range missile tipped with a hypersonic warhead as it pursues more powerful, harder-to-detect weapons designed to strike remote U.S. targets in the region. There are also concerns about an alleged arms cooperation between North Korea and Russia as they align in the face of separate, intensifying confrontations with Washington. The Biden administration said it has evidence that missiles provided by North Korea to Russia had been used in the war in Ukraine. In a joint statement last week, the U.S., South Korea and their partners said the missile transfer supports Russia’s war of aggression and provides North Korea with valuable technical and military insights. North Korea earlier this month fired a barrage of artillery shells near the disputed western sea boundary with South Korea, prompting the South to conduct similar firing exercises in the area.

Persons: KCNA, Kim Jong Un, ” KCNA, Kim, Choe Sun Hui, Sergey Lavrov, Biden, Yoon Suk Yeol, Donald Trump, Trump Organizations: South, Korean Central News Agency, North, Korea’s, Chiefs, Staff, U.S, Russian Locations: SEOUL, South Korea, North Korea, North, Korean, Pyongyang, Guam, Japan, Pacific, United States, Seoul, Tokyo, Russia, Washington, North Korean, U.S, Korea, Ukraine

☆ South Korea to ban production and sale of dog meat for human consumption
▼ + stars: | 2024-01-10 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

After a three-year grace period, the bill would make slaughtering, breeding and sales of dog meat for human consumption illegal from 2027 and punishable by 2-3 years in prison. Dog meat consumption, a centuries-old practice on the Korean Peninsula, is neither explicitly banned nor legalized in South Korea. Recent surveys show more than half of South Koreans want dog meat banned and a majority no longer eat it. But South Korea's dog meat industry has drawn more attention because of the country's reputation as a cultural and economic powerhouse. There is no reliable official data on the exact size of South Korea's dog meat industry.

Persons: —, Yoon Suk Yeol, JungAh Chae, It's, Won, Son, Kim Keon Hee, Song, ryung, Ju, Cheon JinKyung, Kim Myung, Jeong Yoon Hee Organizations: Service, Business, Assembly, Cabinet, National Assembly, Humane, The Associated Press, Farmers, Constitutional, Agriculture, Korea Animal Rights Locations: South Korea, Korea, China, Vietnam, Indonesia, North Korea, Seoul

☆ Asia’s year in review: Who had it good — and who had it bad — in 2023
▼ + stars: | 2023-12-22 | by ( Curtis Chin | Jose B. Collazo | ) www.cnbc.com time to read: +7 min

As 2023 comes to a close, we take a look at the year that was in Asia and the Pacific region. But who had it good and who had it bad in 2023? Bad year: China's property marketWith millions of Chinese citizens still waiting for homes they put down payments on — but might never be built — 2023 was a particularly bad year for China's property market. A newly built property is seen from the air in Hangzhou city, Zhejiang province, China, Dec 15, 2023. Chinese families and individuals who once saw homes as more than somewhere to live but also as investments have reason to fear 2023 won't be the last bad year they face.

Persons: Curtis, Chin, Jose B, —, Vikram, Amit Dave, Narendra Modi, Taylor Swift, Kim Ji, Jennie, Kim Jennie, Roseanne Chae, Lisa, Lalisa, King Charles, Rose, Roseanne Park, Jisoo Kim, Jennie Kim, King Charles III, Yoon Suk Yeol, Kim Keon Hee, Victoria Jones, Blackpink, Michelle Yeoh, Joe Biden, Xi Jinping, San Francisco —, China Evergrande, Moody's, Asia's Organizations: Asian Development Bank, RiverPeak Group, ISRO —, Indian Space Research, Orbiter, ISRO, Buckingham, Sustainable, COP26, Getty, YG Entertainment, APEC, U.S, International Monetary Fund Locations: U.S, Asia, Turkey, Syria, Maui, Hawaii, Lahaina, Pacific, India, Gujarat Science City, Ahmedabad, Korea, British, LONDON, ENGLAND, Glasgow, London, England, South Korea, Malaysian, New Zealand, Thailand, China, San Francisco, United States, Taiwan, South China, Country, Hangzhou city, Zhejiang province

☆ Blackpink renews group contracts with agency, YG shares spike 29%
▼ + stars: | 2023-12-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

(Photo by Victoria Jones - Pool/Getty Images)Shares of K-pop agency YG Entertainment spiked as much as 29% after the company announced that it has renewed exclusive group contracts with all four members of girl group Blackpink. The stock closed at 48,000 South Korean won ($36.58) per share on Tuesday, near its 2023 low of 47,000 won. But on Wednesday, it surged at the open and hit an intraday high of 61,900 South Korean won per share. This could bring an end to the long running contract saga between the popular K-pop group and the agency. Shares of YG previously plunged each time South Korean media reported that members of the group will not renew with the label.

Persons: Lisa, Lalisa, Rose, Roseanne Park, Jisoo Kim, Jennie Kim, King Charles III, Yoon Suk Yeol, Kim Keon Hee, Victoria Jones Organizations: COP26, YG Entertainment, South Korean, YG, Munhwa Ilbo Locations: ENGLAND, British, Glasgow, London, England, South Korea, South Korean

"With this (decision) Yoon is trying to make sure there is policy continuity in place ahead of election," said Park Sang-hyun, an economist at HI Investment & Securities. "Choi has been long-time finance ministry person and he basically spearheaded major economics policies of the Yoon administration from the very beginning so its a safe choice." Choi has a bachelor's degree from the Seoul National University law school, where Yoon also studied around the same time. Choi's career in government service has been mostly at the finance ministry, overseeing economic policy making, financial market policies, and external business relations. Yoon doesn’t need parliamentary approval to appoint a new finance minister, who also serves as deputy prime minister.

Persons: Yoon Suk, Choi Sang, mok, Choi, Choo, Yoon, Yoon's, Yoon doesn’t, Soo, hyang Choi, Ed Davies Organizations: HI Investment, Securities, Gallup, Bank of, Seoul National University, Thomson Locations: SEOUL, Gallup Korea, Daegu

☆ South Korea's Yoon set to announce cabinet reshuffle -media
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

South Korean President Yoon Suk-yeol gives a speech on the government budget at the National Assembly in Seoul, South Korea, 31 October 2023. JEON HEON-KYUN/Pool via REUTERS/File photo Acquire Licensing RightsSEOUL, Dec 4 (Reuters) - South Korean President Yoon Suk Yeol is likely to announce a major cabinet reshuffle as early as Monday, with as many as 10 ministers including the finance minister set to be replaced, Yonhap news agency reported. The financial regulator head could also be replaced, the Korea Economic Daily reported on Monday, also citing unidentified sources. Some cabinet members are widely expected to stand down to capitalise on their increased profile to run as political candidates. Yoon does not require parliamentary approval to appoint a finance minister, who also serves as deputy prime minister.

Persons: Yoon Suk, JEON HEON, Yonhap, Park, Choo Kyung, Choi Sang, Yoon, Hyunsu Yim, Cynthia Kim, Ed Davies, Christopher Cushing Organizations: South, National Assembly, Rights, Korea Economic, Foreign, Finance, Democratic Party of Korea, Thomson Locations: Seoul, South Korea, Rights SEOUL, Korea, Busan

☆ South Korea's Yoon Set to Announce Cabinet Reshuffle -Media
▼ + stars: | 2023-12-03 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - South Korean President Yoon Suk Yeol is likely to announce a major cabinet reshuffle as early as Monday, with as many as 10 ministers including the finance minister set to be replaced, Yonhap news agency reported. The transport and labour ministers may also be changed, Yonhap said, citing unidentified sources. The financial regulator head could also be replaced, the Korea Economic Daily reported on Monday, also citing unidentified sources. Some cabinet members are widely expected to stand down to capitalise on their increased profile to run as political candidates. Yoon does not require parliamentary approval to appoint a finance minister, who also serves as deputy prime minister.

Persons: Yoon Suk, Yonhap, Park, Choo Kyung, Choi Sang, Yoon, Hyunsu Yim, Cynthia Kim, Ed Davies, Christopher Cushing Organizations: Korea Economic, Foreign, Finance, Democratic Party of Korea Locations: SEOUL, Korea, Busan

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