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KBS’ Board Passes Motion to Dismiss Embattled President

KBS’ Board Passes Motion to Dismiss Embattled President

SEOUL, Jan. 22 (Korea Bizwire) – The board of directors of public broadcaster KBS on Monday approved a motion to dismiss its president, Koh Dae-young, who is accused of political bias and unfair labor practices. Ten of the board’s 11 members attended the closed-door session to vote on the proposal submitted Jan. 8. The broadcaster’s 2,200 unionized workers have been on strike since Sept. [...]

“19th Election”, “Goblin”, “A Taxi Driver” Top Daum Searches

“19th Election”, “Goblin”, “A Taxi Driver” Top Daum Searches

SEOUL, Dec. 22 (Korea Bizwire) – Kakao released on December 22 a list of the most searched keywords from January through November on its Daum portal in the categories of news, personalities and media.  In news, “19th election”, “Park Geun-hye impeachment”, “Kim Joo-hyuk death”, “Pohang earthquake” and “cryptocurrency” were the most searched in order from [...]

S. Korean Citizens Win German Human Rights Award for Anti-Park Rallies

S. Korean Citizens Win German Human Rights Award for Anti-Park Rallies

BERLIN, Dec. 5 (Korea Bizwire) — The German political foundation, Friedrich-Ebert-Stiftung (FES), on Tuesday presented its human rights award to the 17 million South Koreans who took part in candlelight rallies in the Asian country last year to call for then-President Park Geun-hye’s resignation over an influence-peddling scandal. Jang Ae-jin, a survivor of the 2014 [...]

Lotte Chairman Sells 214 Bln Won Worth of Shares in Retail Unit

Lotte Chairman Sells 214 Bln Won Worth of Shares in Retail Unit

SEOUL, Nov. 21 (Korea Bizwire) – Lotte Shopping Co., the retail affiliate of South Korea’s fifth-largest conglomerate Lotte, said Tuesday that the group chairman sold part of his holdings in the company for 214.6 billion won (US$196 million). Chairman Shin Dong-bin unloaded over 1 million shares of Lotte Shopping after the local stock market closed, [...]

Prosecution Says ex-President Park Privately Used NIS Funds

Prosecution Says ex-President Park Privately Used NIS Funds

SEOUL, Nov. 15 (Korea Bizwire) – Prosecutors said Wednesday that former President Park Geun-hye is suspected of privately using illicit funds which the National Intelligence Service (NIS) regularly provided to the presidential office during her term. An official from the Seoul Central District Prosecutors’ Office made the remarks while defending against the accusations that their [...]

Cheong Wa Dae to Request Probe into Alleged Falsification of Sewol Reports

Cheong Wa Dae to Request Probe into Alleged Falsification of Sewol Reports

SEOUL, Oct. 13 (Korea Biziwire) – The presidential office will request Friday that the prosecution investigate the alleged manipulation of official documents by former leader Park Geun-hye’s aides to lessen her responsibility for the government’s mishandling of the deadly sinking of a passenger ship three years ago, a Cheong Wa Dae official said. The official, [...]

Samsung Electronics’ Reputation Plunges on Heir’s Arrest

Samsung Electronics’ Reputation Plunges on Heir’s Arrest

SEOUL, Sept. 19 (Korea Bizwire) — Samsung Electronics Co.’s reputation plunged in 2017 compared with the year before, industry data showed Tuesday, apparently due to the arrest of its de facto head coupled with the Galaxy Note 7 debacle. According to the U.S.-based Reputation Institute, Samsung’s ranking in terms of corporate social responsibility plunged 69 [...]

Foreigners May Intervene in Samsung Management After Court Ruling

Foreigners May Intervene in Samsung Management After Court Ruling

SEOUL, Aug. 28 (Korea Bizwire) – Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. aftera Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday. Foreign investors who collectively hold more than 50 percent stake in the world’s largest smartphone manufacturer may demand the company’s board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to [...]