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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.

Ethics subcommittee to decide disciplinary action against lawmaker over cryptocurrency scandal

Rep. Kim Nam-kuk attends a plenary session at the National Assembly in Seoul, Aug. 24. YonhapThe parliamentary ethics subcommittee was set to meet Wednesday to determine what disciplinary measure to take against Rep. Kim Nam-kuk, accused of dubious cryptocurrency dealings. Eyes are on whether rival party lawmakers on the ethics subcommittee will accept the recommendation from an advisory panel that Kim be expelled from the National Assembly. The subcommittee had planned to make a decision last Tuesday but postponed the meeting after Kim declared he will not run in next year's general elections, a decision widely seen as aimed at seeking softer measures than expulsion.The first-term lawmaker came under fire following revelations that he had owned around 800,000 Wemix coins in 2021, worth around 6 billion won ($4.5 million) at the time. Such a massive amount spurred suspicions about where the money came from and whether he used insider information.Kim faced further criticism after he was found to have traded crypto coins multiple times while attending standing committee meetings. He le

Aug 30, 2023
Ethics subcommittee to decide disciplinary action against lawmaker over cryptocurrency scandal

Gov't asks prosecution to probe 375 people in renewable energy corruption during Moon administration

Solar panels are seen in this undated photo provided by the Office for Government Policy Coordination under the Prime Minister's Office. YonhapThe government has requested the prosecution to investigate an additional 375 people for their alleged involvement in illegal activities related to renewable energy projects during the previous Moon Jae-in administration, including the installation of solar panels, officials said Wednesday.The Office for Government Policy Coordination, under the Prime Minister's Office, earlier revealed the findings of a nationwide investigation into corruption allegations surrounding the allocation of subsidies as part of the promotion of renewable energy, a key agenda item during the Moon administration.The investigation found an additional 1,937 cases, implicating 375 people who allegedly used different tax invoices to secure illicit loans and evade taxes, the office said.In total, the additional investigations have exposed 3,828 irregularities, involving an estimated 901 people over the entire five-year period of the previous administration. The cases have

Aug 30, 2023
Gov't asks prosecution to probe 375 people in renewable energy corruption during Moon administration

Yoon says 'communist totalitarian forces' will not stop attempt to disturb free society

President Yoon Suk Yeol, fifth from right, and other participants salute the national flag during a meeting of new members of the presidential Peaceful Unification Advisory Council at the former presidential office, Cheong Wa Dae, in Seoul, Tuesday. The council is a constitutional body, with 21,000 members at home and abroad, to help establish and implement bipartisan policies on democratic and peaceful unification. YonhapPresident Yoon Suk Yeol called Tuesday for achieving inter-Korean reunification based on a firm belief in liberal democracy, saying "communist totalitarian forces" will not stop their attempt to disturb free society.Yoon made the remark during a meeting with new leaders of the Peaceful Unification Advisory Council, a presidential body that helps establish and implement bipartisan policies on democratic and peaceful unification."Communist totalitarian forces, the forces that blindly follow them and the opportunist followers are engaging in psychological warfare to disturb free society through false fabrication, propaganda and instigation, and they will not stop," he

Aug 29, 2023
Yoon says 'communist totalitarian forces' will not stop attempt to disturb free society

Yoon has never shared his thoughts on relocation of independence fighter's bust: official

The bust of revered independence fighter Hong Beom-do, right, is installed at the headquarters of the defense ministry in Seoul, Monday. The government is considering relocating the bust due to his past record of collaborating with Soviet communist forces. YonhapPresident Yoon Suk Yeol has never shared his thoughts on the issue of relocating the busts of revered independence fighter Hong Beom-do from the Korea Military Academy and the defense ministry, a presidential official said Tuesday.The relocation issue has become a political football after it became known that the government is considering moving the busts due to Hong's past record of collaborating with Soviet communist forces."President Yoon Suk Yeol has never shared his thoughts on this issue until now, including during today's Cabinet meeting," the official told reporters. "If the president were to state a particular stance, it could influence related discussions."The government's move is seen as being in line with the Yoon administration's push to align closer with the United States and Japan in the face of growing coopera

Aug 29, 2023
Yoon has never shared his thoughts on relocation of independence fighter's bust: official

Yoon designates 3 special disaster zones over Typhoon Khanun

Shopkeepers remove water from their flooded shops in Goseong, Gangwon Province, Aug. 11, as Typhoon Khanun hit the region overnight. YonhapPresident Yoon Suk Yeol on Tuesday designated three areas hit by Typhoon Khanun as special disaster zones, his office said.The designations make the areas eligible for the government's financial support in recovery work, relief funds for victims, and other benefits.The designated areas are Goseong, Gangwon Province; Sannae, North Gyeongsang Province; and Gasan, North Gyeongsang Province, presidential spokesperson Lee Do-woon said.The move comes after two areas ― Gunwi in Daegu and Goseong ― were designated following the powerful typhoon that swept through the country, Lee said.The typhoon, which plowed through Korea from south to north for 16 hours earlier this month, resulted in flooding, facility destruction, landslides and school closures.In July, the government designated 13 areas hit hard by deadly downpours as special disaster zones. (Yonhap)

Aug 29, 2023
Yoon designates 3 special disaster zones over Typhoon Khanun

Controversy escalates over Gwangju's plan to build park in honor of communist composer

Members of veterans associations hold a rally in front of Gwangju City Hall, Aug. 28, to oppose the city's plan to build a public park in honor of a communist composer. YonhapA controversial plan by the southwestern city of Gwangju to build a park in commemoration of Korean-born Chinese composer Jeong Yul-seong has met with fierce opposition from the conservative central government and veterans and conservative organizations.Jeong, who is also known by his Chinese name Zheng Lucheng, is revered in China and North Korea for composing many of their military songs, but many South Koreans regard him as a communist and even an enemy due to his careers in the North Korean and Chinese armies before and during the 1950-53 Korean War.Jeong was born in Gwangju in 1914 during Japan's colonial rule and reportedly fought with Korean independence fighters in China in the 1930s. He participated in North Korea's army after the 1945 liberation and then joined the Chinese communist army during the Korean War. He became a Chinese citizen in 1956.In May 2020, the Gwangju city government, citing Jeong's

Aug 29, 2023
Controversy escalates over Gwangju's plan to build park in honor of communist composer

Yoon pledges to stick to sound fiscal policy, slams predecessor for reckless spending

President Yoon Suk Yeol speaks during a Cabinet meeting at the presidential office in Seoul, Aug. 29. YonhapPresident Yoon Suk Yeol vowed Tuesday to stick to a sound fiscal policy, strongly criticizing the preceding Moon Jae-in government for increasing national debts with reckless spending.Yoon made the remark during a Cabinet meeting, pledging to reject temptations of spending for political purposes, as the government proposed a national budget of 654.4 trillion won ($495 billion) for 2024, the slowest on-year growth since 2005. "Due to the previous administration's lax fiscal management, the national debts rose by 400 trillion won, and reached over 1,000 trillion won for the first time last year," Yoon said in opening remarks at the Cabinet meeting. Thanks to his administration's efforts to achieve fiscal soundness, Yoon said the growth of national debts has markedly slowed, and the government will continue to stick to a sound fiscal policy for the sake of external credibility and price stabilization."Some people claim the government should boldly release budget ahead of elections

Aug 29, 2023
Yoon pledges to stick to sound fiscal policy, slams predecessor for reckless spending

Unification ministry seeks 28% cut in 2024 budget for inter-Korean cooperation fund

South Korea's unification ministry spokesman Koo Byoung-sam speaks during a briefing at the government complex in Seoul, Aug. 28. YonhapSouth Korea's unification ministry said Tuesday it requested a 27.9 percent decrease in its budget for cooperative projects with North Korea next year amid frosty inter-Korean relations and the government's belt-tightening stance.The ministry said it proposed 874.2 billion won ($660.5 million) for next year's budget for the Inter-Korean Cooperation Fund, down 338.3 billion won from this year's spending. It marked an unprecedentedly sharp cut in the budget for the cooperation fund.The reduction came as the ministry proposed a 42.3 percent drop in spending for inter-Korean economic projects, such as its support for the now-shattered Kaesong Industrial Complex in the North's namesake border city.The ministry earmarked 262.4 billion won next year for economic cooperation projects with the North, compared with this year's budget of 454.9 billion won.The requested budget for humanitarian assistance was set at 589.6 billion won for 2024, down 19.2 percent f

Aug 29, 2023
Unification ministry seeks 28% cut in 2024 budget for inter-Korean cooperation fund
  • S. Korea seeks slowest budget growth in nearly 20 years for 2024
  • Korea to allocate W200 bil. to encourage foreign direct investment in 2024

Hyundai launches Avante N in China

Hyundai's joint venture in China, Beijing Hyundai Motor, released the Avante N on Friday, becoming Hyundai's first high-performance N-line model launched in China. Courtesy of Beijing Hyundai Motor

Aug 29, 2023By Kim Hyun-bin
Hyundai launches Avante N in China

Yoon slams opposition, press for fomenting fears over Fukushima water release

President Yoon Suk Yeol clinches his fist as he speaks during the ruling People Power Party's annual seminar in Incheon, Monday. Joint Press CorpsPresident sets ideology as foremost value of countryBy Nam Hyun-wooPresident Yoon Suk Yeol slammed the opposition and the press for criticizing his administration's response to Japan's release of treated wastewater from the Fukushima Daiichi Nuclear Power Plant, saying it is impossible to govern the country full of such “unscientific forces.”Since Japan began releasing treated wastewater from the disabled nuclear power plant on Aug. 24, Yoon has been refraining from making direct remarks on growing public concerns over the safety of seafood and the opposition's mounting criticism that the government is being too lenient on Tokyo. Monday's remarks are interpreted as Yoon's response to such criticism, signaling an escalating dispute with the opposition regarding a wide range of issues.“With the opposition lawmakers controlling the majority of seats at the National Assembly and the media largely favoring their perspective, ou

Aug 28, 2023By Nam Hyun-woo
Yoon slams opposition, press for fomenting fears over Fukushima water release
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