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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.

Comedian Johnny Yune dies at 84

Comedian Johnny Yune / YonhapBy Kwak Yeon-sooPopular Korean American comedian Johnny Yune, whose Korean name is Yune Jong-seung, died in Los Angeles on March 8 (local time). He was 84. He had been receiving treatment in the U.S. after experiencing a brain hemorrhage in 2016.Born in Eumseong County, North Chungcheong Province in 1936, and raised in Seoul, Yune moved to the U.S. to attend Ohio Wesleyan University. He renounced his Korean citizenship and became a U.S. citizen in 1978. Yune earned fame on “The Tonight Show Starring Johnny Carson,” appearing on the show 34 times in the 1970s and 1980s. He was one of the few Asian stand-up comedians to make it big. He also acted in a number of films.Meanwhile, he shot to fame in Korea in 1989 after hosting the “Johnny Yune Show,” the first American-style talk show here. He regained Korean citizenship, becoming a dual citizen in 2013.

Mar 10, 2020By Kwak Yeon-soo
Comedian Johnny Yune dies at 84

On air in snow

A weather forecaster shoots a broadcast in the snow at Namsan Park in Seoul, Monday, when the capital received its largest snowfall of the winter measuring up to 4.1 centimeters, according to the Korea Meteorological Administration. Korea Times photo by Shim Hyun-chul

Feb 17, 2020By Bahk Eun-ji
On air in snow

Korean city of Chuncheon forges sisterhood with Vietnam's Da Lat

Chuncheon Mayor Lee Jae-soo speaks as his city and Vietnam's Da Lat signed a sisterhood for bilateral cooperation at Da Lat city office in Vietnam, Dec. 21. YonhapThe South Korean city of Chuncheon and the Vietnamese city of Da Lat forged a sisterhood Saturday to step up bilateral cooperation. Chuncheon Mayor Lee Jae-soo signed an agreement with his Da Lat counterpart earlier in the day at Da Lat City Hall to link Chuncheon and Da Lat as sister cities. The agreement will further upgrade the two cities' previous administration-level exchanges in such sectors as economy, trade, tourism, science, technology and education. During the signing ceremony, Mayor Lee said, "I will bolster cooperation with and support for Da Lat to further deepen our three-year-long friendship."In the initial phase, each city will dispatch public officials to the other to follow up on the agreement and find new cooperation projects. On the sidelines of the agreement, the two cities also signed a sports exchange pact under which the cities will hold a joint sports event every year. (Yonhap)

Dec 21, 2019
Korean city of Chuncheon forges sisterhood with Vietnam's Da Lat

LG honorary chairman dies at age 94

Koo Cha-kyung, left, with his son Koo Bon-moo in this photo taken on 1999. Courtesy of LG GroupLG Group Honorary Chairman Koo Cha-kyung died Saturday at age 94, the company said. Born in 1925, Koo took the helm at LG at the age of 45 following the death of his father and LG founder, Koo In-hwoi, and led the conglomerate for 25 years. He handed over the group's leadership to his eldest son and late Chairman Koo Bon-moo, who died in May this year. Koo Cha-kyung is the grandfather of the current Chairman Koo Kwang-mo. As LG chairman, Koo put an emphasis on growing the conglomerate into a world-class company, through heavy investment in new technologies and research and development (R&D). Some 70 LG R&D centers were built in Korea during his time. He was also active in expanding LG's overseas footholds in key markets, including China, Southeast Asia, Eastern Europe and the North American region, especially for its electronics and chemical businesses. After retirement, he spent much of his time engaging in various educational activities and corporate philanthropy. He had six child

Dec 14, 2019
LG honorary chairman dies at age 94

Ex-Daewoo Group Chairman Kim Woo-choong dies at 82

People pay their respects at a memorial altar for former Daewoo Group Chairman Kim Woo-choong at Ajou University Hospital funeral hall in Suwon, Gyeonggi Province, Tuesday. YonhapBy Kwak Yeon-sooFormer Daewoo Group Chairman Kim Woo-choong passed away late Monday at age 82 after having struggled with illness for about a year, according to an organization affiliated with the now-defunct conglomerate, Tuesday. The founder of the trading-to-automobile conglomerate died while undergoing treatment at Ajou University Hospital in Suwon, Gyeonggi Province, the Daewoosky Institute said, without revealing any details.“It is with great sadness that we share the news that Kim Woo-choong, a man who was respected by many and touted as an inspiration to the country's young, died of a chronic illness,” the organization said. Kim was once recognized as one of the most successful businessmen in Korea, bringing Daewoo up to become one of major conglomerates here and paving the way for its international expansion in emerging markets of Eastern Europe and Africa. Kim launched Daewoo to export

Dec 10, 2019By Kwak Yeon-soo
Ex-Daewoo Group Chairman Kim Woo-choong dies at 82

Former Daewoo Group Chairman Kim Woo-choong dies at 82

Former Daewoo Group Chairman Kim Woo-choong died of a chronic disease Monday. He was 82. YonhapFormer Daewoo Group Chairman Kim Woo-choong died late Monday at age 82, an organization affiliated with the now-defunct conglomerate said.Kim, the founder of the company, died of a chronic disease at a hospital in Suwon, just south of Seoul, at 11:50 p.m., according to Daewoosky Institute, which represents former employees of Daewoo.Daewoo Group was founded in 1967 and became the second largest conglomerate in South Korea after Hyundai Group. During the Asian financial crisis in 1997, the company ran into deep financial problems and was declared bankrupt in 1999.Daewoo's flagship company, Daewoo Motor, was sold to General Motors in 2002 and renamed GM Korea. Its other affiliates, such as Daewoo Engineering & Construction and Daewoo Shipbuilding & Marine Engineering, were sold to domestic rivals.Following Daewoo's demise, Kim spent most of his time in Vietnam, where he focused on fostering Korean entrepreneurs under a project dubbed Global Young Business Manager.As his health deterio

Dec 10, 2019
Former Daewoo Group Chairman Kim Woo-choong dies at 82

Essays show ways to create jobs, attract foreigners

Korea Times President-Publisher Lee Byeong-eon, third from left, and Woori Financial Group Chairman Son Tae-seung, third from right, applaud after giving awards to the winners of the 15th English Economic Essay Contest, at the Lotte Hotel Seoul, Wednesday. From left are Chang Bo-mi, Olivia Truesdale, Lee, Kirsty Goodman, Kim Young-il, Son, Jonathan Humphrey and Paik Ji-won. Runner-up awardee Wee So-yeon was unable to attend the ceremony. / Korea Times photo by Choi Won-sukBy Park Jae-hyukIn their award-winning English economic essays, university students suggested fresh ideas in their writing about how Korea can create more “decent” jobs, and the changes needed for the country to attract more foreign professionals to settle here.The Korea Times held an award ceremony at the Lotte Hotel Seoul, Wednesday, for its 15th English Economic Essay Contest sponsored by Woori Bank.The seven contest winners were invited to the event, attended by Korea Times President-Publisher Lee Byeong-eon and Woori Financial Group Chairman Son Tae-seung.For this year's contest, contestants were as

Nov 27, 2019By Park Jae-hyuk
Essays show ways to create jobs, attract foreigners
  • Economic Essay Contest Thriving economy starts with freedom to fail

Korea urged to promote visas to attract foreign investment

Olivia TruesdaleBy Olivia TruesdaleIn order to capitalize on the opportunity of foreign assets prompting economic growth, Korea should explore promoting investment in the Korean economy through its trade and investment in D-7, D-8, and D-9 visas.A 2019 OCED report highlights Korea's “openness and some high-visibility initiatives to subsidize top talent” but emphasizes the lack of proportionate success in maintaining the highly skilled foreigners that come to Korea, in addition to the fact that Korea itself has “no broad shortage of highly skilled workers.”The competitive hiring and economic environment appear to be the key issue in maintaining a skilled foreign workforce.As recently as September 2018 there were over 540,000 college graduates who were unable to find work after graduation, which accounts for a significant amount of Korea's unemployment rate according to a Korea Times report.Korea's D-7, D-8, and D-9 visa classes are meant to draw foreigners for business purposes, similar to the United States E-2 visa, though its guidelines are vague, and the qua

Nov 26, 2019
Korea urged to promote visas to attract foreign investment
  • Economic Essay Contest Thriving economy starts with freedom to fail

Bonuses, eased visa rules can boost foreign workforce

Chang Bo-miBy Chang Bo-miWhat image comes to mind when you think of the foreign workforce in Korea? I'm afraid to say, but for me, it is the 3Ds ― dirty, dangerous and demeaning work.Machines forced to be operated on and on, extra work given without notice or even dreadful death by suffocation under the basement of a factory. These images may feel exaggerated, but we have already seen cases on the news since the early 2000s. However, there is another type of foreign workforce in Korea, which I'll call the “professional” workforce.For example, you may have heard of Pranav Mistry from India. He is a young computer scientist who showed “SixthSense” to the world. Interestingly, this highly qualified person entered Samsung and is currently working as a Global Senior Vice President of Research at Samsung.Then, the question here is “how could companies like Samsung retain talent in this way?” I want to suggest the following two reasons: wage differentiation and the simplification of Korea's immigration visa policy.Firstly, it can become possible to retain

Nov 26, 2019
Bonuses, eased visa rules can boost foreign workforce
  • Economic Essay Contest Thriving economy starts with freedom to fail

Economic Essay Contest Thriving economy starts with freedom to fail

Kirsty GoodmanBy Kirsty Goodman"It is not the most intelligent who will succeed in the future, it will be those who are the most adaptable." I am paraphrasing, of course, the famous (often misattributed) words of Leon C. Megginson, himself paraphrasing from Charles Darwin's theory of evolution.Today his words have even more relevance as technological developments are causing societies to adapt faster than our institutions can keep up. All around the world, countries are facing increasing unemployment as new technologies reduce certain types of jobs while introducing new ones that go unfulfilled because of a skills shortage.To create more decent jobs, we must first decide what a “decent job” is. Unfortunately, as Yuval Noah Harari also points out in his widely successful “21 Lessons for the 21st Century,” with the world changing at such a rapid pace, it will be difficult to fully anticipate the skillset needed for the jobs of the future. By the time it takes to re-train a new generation, the skills we were investing in originally may very well be redundant.To c

Nov 26, 2019
[Economic Essay Contest] Thriving economy starts with freedom to fail
  • Perception of Korea's working conditions matters
  • Entrepreneurship is key to solving youth unemployment
  • Support needed for educated young Koreans to get jobs
  • Long-term policies will 'anchor' skilled foreigners to Korea
  • Korea urged to promote visas to attract foreign investment
  • Bonuses, eased visa rules can boost foreign workforce
  • Essays show ways to create jobs, attract foreigners
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