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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.

Yoon promises to ease regulations on businesses

President-elect Yoon Suk-yeol, left, points toward a site reserved for building a financial complex during his visit to the National Pension Service headquarters in Jeonju, North Jeolla Province, Wednesday. Joint Press Corps By Nam Hyun-wooPresident-elect Yoon Suk-yeol said Wednesday that he will “lift as many regulations as possible” during his tenure in order to help domestic and foreign businesses rake in profits and pay taxes.During his visit to the National Pension Service headquarters in Jeonju, North Jeolla Province, Yoon said business growth results in the happiness of shareholders and workers, and that the government's role is establishing a safety net through welfare policies. “China is a country full of risks ― it is a socialist country and foreign businesses there suffer difficulties sending dividends back home,” Yoon said. “However, (Korea) offered its state-owned land for free to businesses, and companies have come in. There's no need to say anything a

Apr 20, 2022By Nam Hyun-woo
Yoon promises to ease regulations on businesses

Ruling party mired in infighting over Seoul mayoral candidate

Democratic Party of Korea former Chairman Song Young-gil answers reporters' questions during his visit to a rally for disabled people's rights on Yeouido, Seoul, Wednesday. YonhapSelection committee rules out ex-DPK Chairman Song Young-gilBy Nam Hyun-wooThe committee to select candidates to run for the ruling Democratic Party of Korea (DPK) in the June 1 local elections has eliminated former Chairman Song Young-gil from the Seoul mayoral race.If the decision is confirmed by the party's decision-making emergency committee, Song, who had earlier declared his bid to enter the race, will not be able to run in the Seoul mayoral election.Song's elimination has triggered a disagreement between the party's two main factions, with the group close to Song and former presidential candidate Lee Jae-myung arguing that the selection committee has been making decisions based on “factional interests,” while the other group more aligned with President Moon Jae-in has been denying such claims. The DPK planned to confirm whether or not to eliminate Song during an emergency committee meeting

Apr 20, 2022By Nam Hyun-woo
Ruling party mired in infighting over Seoul mayoral candidate

FM's residence emerges as key candidate for presidential residence

The entrance of the official residence in Yongsan, Seoul / Yonhap The foreign minister's official residence has emerged as "the most reasonable" candidate for the new presidential residence of incoming President Yoon Suk-yeol, transition team officials said Wednesday.The official residence of the Army chief of staff had originally been considered a top candidate for Yoon's residence following his plan to relocate the presidential office to the defense ministry compound in Yongsan, central Seoul. But officials said the Army chief's home is too outdated and run-down for a presidential residence."The foreign minister's official residence went through remodeling last year," the official said. "It appears to be the most reasonable alternative (to the Army chief's home)." Should the place be confirmed as the presidential residence, the foreign minister needs to move out, but the official said follow-up measures have yet to be determined.Another official earlier said remod

Apr 20, 2022
FM's residence emerges as key candidate for presidential residence

Yoon visits liberal Jeolla provinces for first time since election

President-elect Yoon Suk-yeol visits the National Pension Service in Jeonju, North Jeolla Province, April 20. YonhapPresident-elect Yoon Suk-yeol traveled to the southwestern Jeolla provinces on Wednesday to meet with locals on a trip that is also seen as aimed at offering support to candidates running in the June local elections.On the first leg of what will be a three-day trip, Yoon headed to Jeonju, where he visited the National Pension Service, before heading to Gwangju and Yeongam to visit industrial sites.Through the visit, the president-elect plans to keep his campaign promise to return after the election and inspect the locals' livelihoods, his spokesperson, Bae Hyun-jin, said in a written briefing.On his flight there, he was briefed on the development of the Saemangeum area in North Jeolla Province and viewed the reclaimed land from the air, she said.The trip is part of a national tour Yoon began last week with a visit to the southeastern city of Daegu and the surrounding area, a stronghold of his conservative People Power Party.This week's trip took him to the liberal Jeoll

Apr 20, 2022
Yoon visits liberal Jeolla provinces for first time since election

Race for Gyeonggi governor tight within margin of error

Rep. Kim Eun-hye, left, and former finance minister Kim Dong-yeon / YonhapRep. Kim Eun-hye of the conservative People Power Party (PPP) and former finance minister Kim Dong-yeon are running neck and neck in a hypothetical two-way race for the governorship of Gyeonggi Province in the June local elections, a survey showed Wednesday. According to the survey of 812 adults, conducted by Realmeter on Monday and Tuesday, Kim of the PPP led the former finance minister Kim 43.1 percent to 42.7 percent, which was within the margin of error of plus or minus 3.4 percentage points at a 95 percent confidence level.In another hypothetical two-way race between the ex-minister Kim and former lawmaker Yoo Seong-min of the PPP, Kim led Yoo 40.6 percent to 36.2 percent, according to the survey. The 4.4 percent gap was also within the margin of error. The PPP's two potential candidates for the Gyeonggi governorship ― Kim and Yoo ― held their final TV debate on Tuesday and the PPP candidate will be chosen on Friday by a vote of party members. The former finance minister Kim, head of the minor New Wave Par

Apr 20, 2022
Race for Gyeonggi governor tight within margin of error

Non-pricing policy must for well-coordinated global climate change responses: Seoul's finance chief

This file photo, provided by the finance ministry on April 19, shows Finance Minister Hong Nam-ki. YonhapKorea's top economic policymaker has stressed the need to balance market mechanisms against non-pricing policy measures in coordinating global efforts to fight climate change, his office said Wednesday.Finance Minister Hong Nam-ki made the remarks during an online meeting of the Coalition of Finance Ministers for Climate Actions held Tuesday."The proper combination of market mechanisms, such as an emissions trading system, and non-price policy support is a must in responding to climate change," Hong said, citing such measures as financial support and research and development.The minister also said it needs to take into consideration each nation's different industry structure and other economic conditions when countries try to coordinate various measures on climate issues.Korea pledged to reduce greenhouse gas emissions by 40 percent from the 2018 levels by 2030 and reach carbon neutrality by 2050. The country has operated a domestic emission trading system among some industries si

Apr 20, 2022
Non-pricing policy must for well-coordinated global climate change responses: Seoul's finance chief

Nat'l Assembly speaker shelves overseas trip amid tension over prosecution reform legislation

Junior prosecutors leave the Seoul Central Prosecutors Office in Seoul in the early morning of April 20, 2022, after their overnight emergency meeting to counter the ruling Democratic Party's push to deprive the prosecution of its investigative powers. YonhapNational Assembly Speaker Park Byeong-seug has put an overseas travel plan on hold, an official said Wednesday, amid the ruling Democratic Party's push for legislation that would deprive the prosecution of its investigative powers.The decision was seen as aimed at giving the DP more time to consider the controversial legislation without rushing as the party has vowed to pass the bills through the National Assembly before Park departs on a 10-day trip to the United States and Canada later this week. Park's cooperation is key to passing the legislation because he has the authority to introduce it.The DP has pushed the set of amendments to the Prosecutor's Office Act and the Criminal Procedure Act to strip the prosecution of its right to investigate six types of crimes.The DP hopes to promulgate the legislation into law at a Cabinet

Apr 20, 2022
Nat'l Assembly speaker shelves overseas trip amid tension over prosecution reform legislation

Moon blames indifference for mobility problems of people with disabilities

President Moon Jae-in /Yonhap President Moon Jae-in called for more efforts to help improve mobility for the disabled, Wednesday, saying society's indifference is to blame for their mobility problems."We must blame ourselves for our lack of interest for disabled people's right to move," Moon said in a message to mark the 42nd Day of People with Disabilities. "A world without discrimination is the path down which we should go." "The pace of disabled and non-disabled people is also different, but we are living together," Moon said. "We need to build a world where we can wait for people with slow pace."Mobility for the disabled has been in the spotlight after rush-hour subway protests by a disabled advocacy group. Demanding measures to improve mobility rights and a budget for disability rights, the group has staged subway protests since late last year and often caused delays in metro services during rush hours as some of its members used their wheelchairs to prevent tr

Apr 20, 2022
Moon blames indifference for mobility problems of people with disabilities

Yoon to invite 41,000 for his inauguration ceremony amid eased virus distancing

President-elect Yoon Suk-yeol / Joint Press CorpsA larger than previously planned number of people will be invited to attend President-elect Yoon Suk-yeol's inaugural ceremony slated for early next month amid eased virus restrictions, according to Yoon's transition team Tuesday.Some 41,000 people are expected to attend the ceremony, including political leaders, citizens and bereaved families of sailors killed in North Korea's sinking of the Cheonan warship in 2010, the transition team said.The transition team said more people than previously thought will be invited, as the country fully lifted COVID-19 restrictions, except the mask mandate Monday.Yoon's inaugural ceremony committee had earlier planned to invite around 10,000 people in line with earlier COVID-19 guidelines. The ceremony will take place at a plaza in front of the National Assembly on May 10 and is expected to cost around 3.3 billion won ($2.66 million), the largest-ever. (Yonhap)

Apr 19, 2022
Yoon to invite 41,000 for his inauguration ceremony amid eased virus distancing

Unification minister holds talks with US nuclear envoy on N. Korea

Minister of Unification Lee In-young, right, talks with U.S. Special Representative Sung Kim during the latter's visit to the ministry in Seoul, Tuesday. Courtesy of Ministry of UnificationUnification Minister Lee In-young met with the U.S. envoy for North Korea to seek ways to bring the reclusive regime back to the negotiating table, his office said Tuesday.During the meeting, Lee and U.S. Special Representative Sung Kim discussed ways to “stably manage” the currently “grave” political situation on the Korean Peninsula, the ministry said in a press release.Lee stressed the two sides must maintain close policy cooperation ahead of the incoming government of President-elect Yoon Suk-yeol, and work closely to prevent the North from escalating tensions and resume dialogue.Kim said the U.S. remains open to diplomacy and engagement with Pyongyang but stressed it will respond to the North's provocations through close consultations with the South.He also met Vice Unification Minister Choi Young-joon to discuss the latest political situation, including the North's rep

Apr 19, 2022
Unification minister holds talks with US nuclear envoy on N. Korea
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