my timesThe Korea Times
leehs

Lee Hyo-sik

Korea Times Finance Reporter

Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.

Go to Email

Read more

South Korea

Chinese airlines seek to recruit Korean pilots

By Lee Hyo-sik Air China and other China-based airlines are eager to recruit experienced Korean pilots to meet surging air travel demand in the world’s fastest growing economy, according to aviation industry officials Wednesday. The move is expected to further aggravate an already-dire pilot shortage here. However, it appears that Korean Air, Asiana Airlines and low-cost carriers have yet to feel threatened by their Chinese rivals’ move. Industry officials said several Chinese airline firms held a job fair here recently to secure experienced pilots by offering high wages and generous benefits which may woo some of the pilots. The starting annual salary for captains at the nation’s two flagship carriers, Korean Air and Asiana, is about 120 million won ($110,000). But Chinese airlines reportedly offered up to 170 million won, on top of housing subsidies and other benefits. In a recent survey of 481 pilots at Korean Air conducted by their union, 72 percent, or 344, said they would quit and work for other airlines. ``It is no surprise that the majority of unionized

Jun 22, 2011By Lee Hyo-sik
South Korea

4.1-magnitude earthquake hit Baeknyeong Island

A 4.1-magnitude earthquake hit Baeknyeong Island in the West Sea, Friday afternoon, but caused neither human casualties nor property damage, the Korea Meteorological Administration (KMA) said. The latest quake, the strongest among 28 ones that have occurred here this year, took place in the waters 16 kilometers southwest off the nation’s northernmost island at 4:38 p.m. It was also the strongest since May 2009 when a magnitude-4 quake hit Andong, North Gyeongsang Province. ``Residents of Baeknyeong Island and other nearby islands felt the quake as buildings were shaken a bit. But fortunately, there was no property damage or human casualties. The quake was not felt in other areas,’’ a KMA official said. leehs@koreatimes.co.kr

Jun 20, 2011By Lee Hyo-sik
South Korea

Typhoon Meari kills 9, leaves 3 missing

By Lee Hyo-sik Typhoon Meari pounded Jeju Island and south and west parts of the Korean Peninsula over the weekend with heavy rain and high winds, causing human casualties and property damage. It passed through the country’s southwestern coast before striking western parts of North Korea late Sunday night. The year’s first typhoon destroyed many bridges and roads, and flooded farmland, while forcing hundreds of fishing boats and ferries to remain moored and airlines to cancel flights. Nine people were killed in accidents or after being swept away by waters, with three others missing, police said. According to the Korea Meteorological Administration (KMA) Sunday, a typhoon warning was issued for Jeju Island, and the Jeolla and Chungcheong provinces. Residents in Seoul and central provincial areas were advised to watch out for the tropical storm, which had caused heavy damage in Southeast Asian countries before heading north. A high wave warning was also issued for southwestern coastal areas, forcing all fishing boats and ferries to remain in port. The typhoon aggrav

Jun 20, 2011By Lee Hyo-sik
South Korea

Mom hits granny for touching baby

A young mother carrying a baby hit an old woman with a plastic bottle for touching her child on the subway. A video clip, reported by a broadcaster Saturday, showed the young woman beating an older woman with a 1.5-liter plastic bottle in front of other passengers, while telling the older woman not to touch her child. In the clip, the woman carrying a stroller said, “Shut up. When I tell you to stop touching my child, you do what I tell you to do. Call the police.” The older woman did not react but sat quietly. Even the child asked the mother to move on but she kept asking the older woman why she would not call the police. Passengers reported the incident to the subway authorities and a subway employee boarded at Hyehwa Station, the next stop and escorted them off the train. The employee said he asked the old woman whether she wanted to report the attack to the police but she declined. Following the incident, some Internet users posted messages criticizing the young woman’s behavior toward the old woman. But others wrote sympathetic notes, saying the old woman sho

Jun 20, 2011By Lee Hyo-sik
South Korea

Korea lags behind in accepting refugees

By Lee Hyo-sik South Korea has joined a league of advanced countries and played an increasingly significant role in the international community over the years. But the nation still lags far behind its peers when it comes to helping refugees and protecting their human rights. Human rights advocacy groups say that Korea largely remains indifferent to the plight of displaced people in Asia, Africa and other parts of the world, adding it is difficult for them to gain refugee status here. They say the country should make it easier for refugees to settle down and provide them with a wide range of aid. According to the Korea Immigration Service Monday, a total of 3,073 non-Koreans sought refugee status from the government as of April this year. World Refugee Day falls on June 20. But only 8 percent, or 243, were recognized as refugees and allowed to stay here. They are from Burma, Bangladesh, Ethiopia and other countries in Asia and Africa. Nearly 600 foreign nationals are currently waiting for the government to make a decision on whether they will be recognized as refugee

Jun 20, 2011By Lee Hyo-sik
South Korea

Hyundai workers disciplined for gambling at work

Hyundai Motor said Sunday that it disciplined 97 workers, including 13 former and incumbent senior union officials, for gambling online during work hours. After completing its latest internal audit, Korea’s largest automaker said 35 employees at its Asan plant and 62 at the Ulsan facility were found to have been engaged in cyberspace gambling using office computers this year. The company was tipped off by insiders that dozens of employees gambled on the Internet during office hours. All 97 employees admitted to engaging in online gambling, it said. Some of them were found to have bet more than 100 million won ($90,000). A company official said it was able to catch those gambling online thanks to internal whistle blowers. ``It appears that there were many employees involved in the wrongdoing.’’

Jun 20, 2011By Lee Hyo-sik
South Korea

No. of corrupt gov’t officials jumps 5-fold

The number of civil servants disciplined for taking bribes has soared by more than five-fold over the past five years, the Ministry of Public Administration and Security said Sunday. Government officials dismissed or reprimanded for accepting bribes totaled 624 in 2010, 5.5 times more than the 114 in 2006. Of the 624, 419 were employed at central government agencies, with the remaining 205 working for municipal administrations. Besides accepting kickbacks, thousands more civil servants were disciplined for embezzlement, misappropriation of state funds and other wrongdoings. A total of 5,818 civil servants were punished for a wide range of ethical code violations last year, doubling the 2006 figure. ``The number of government officials disciplined for an array of wrongdoings has jumped over the past few years, due mainly to a clampdown on bureaucratic corruption. Many civil servants were punished for illegally accepting rice subsidies and drunken driving,’’ a ministry official said. Nearly 20,000 non-farmers, including about 2,500 government and public-sector workers, wer

Jun 20, 2011By Lee Hyo-sik
South Korea

Marines’ misfiring unnerves air travelers

By Lee Hyo-sik Many air travelers are increasingly concerned over flight safety, after soldiers fired at a civilian aircraft over the West Sea, early Friday morning. They say it is unthinkable that the military mistook a civilian airplane for a North Korean fighter jet, adding the authorities should get to the bottom of the case and make sure such an incident will never happen again. Lee Kyung-sik, a 36-year-old salaried worker at one of Korea’s largest steel makers, said the shooting has made him lose faith in the nation’s armed forces and feel uneasy about flying to and from Incheon International Airport. ``When I heard the news on Saturday, I did not know what to say. What happened was just ridiculous. How could they not tell the difference between a civilian airplane and a fighter jet? The soldiers must have not been properly trained,’’ said Lee, who goes on several business trips to Indonesia and other Southeast Asian countries each month. He added he feels less safe about getting onto an airplane now than before the incident, stressing it should never happen ag

Jun 20, 2011By Lee Hyo-sik
South Korea

No. of unmarried 30-somethings in Seoul soars

The number of unmarried Seoulties in their 30s has doubled over the past decade as more become reluctant to tie the knot due to financial hardship among other reasons. According to the Seoul Metropolitan Government, Friday, the number of unmarried 30-somethings residing in Seoul stood at 656,814 as of the end of 2010, up 97 percent from 322,473 in 2000. They accounted for 7.9 percent of the Seoul population aged over 15, up from 4.2 percent 10 years ago. In particular, those aged 30-34 who were still single totaled 431,847, compared with 425,917 in the same age bracket who were married or once married but divorced later. Of the unmarried Seoul population, 1.59 million were men, accounting for 53.9 percent of the total last year, down from 56 percent 10 years ago. But the number of unmarried women living in the capital stood at 1.36 million, accounting for 46.1 percent, up from 44 percent over the 10-year period. The number of divorcees in Seoul totaled 335,849 last year, up 91.8 percent from 175,148 a decade ago. The number of divorced aged over 50 jumped 211 p

Jun 17, 2011By Lee Hyo-sik
South Korea

Marathoners suspected of using banned drugs

By Lee Hyo-sik The police said Friday that they are looking into the possible use of banned performance-enhancing drugs by marathon runners. A narcotics investigation division at the Gangwon Provincial Police Agency said it is investigating Jeong Man-hwa, 51-year-old national marathon team coach, over allegations that he injected performance-enhancing drugs, undetectable in doping tests, into runners he supervised. Jeong also heads a marathon team at a university in the province. The coach has been suspected of administrating a substance that raises the level of hemoglobin to marathon runners to boost their athletic performance. Police officers are analyzing medical records confiscated from a rehabilitation facility in Jecheon, North Chungcheong, where runners supervised by Jeong were often treated. ``We are conducting the probe in an extremely cautious manner because it involves a famous marathon coach and many long-distance runners. As soon as we complete examining the runners’ medical records, we will release the results of the investigation,’’ a police officer said

Jun 17, 2011By Lee Hyo-sik
previous page
147148149150151
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.