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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.

Commemorating World Korean Day

President Moon Jae-in gives a commemorative speech at the 15th World Korean Day event at the Grand Walkerhill Seoul hotel, Tuesday. Moon asked for solidarity and cooperation among the international community of Koreans to overcome the COVID-19 pandemic together. Yonhap

Oct 5, 2021By Lee Hae-rin
Commemorating World Korean Day

Land development scandal engulfs parliamentary audit

Defense Minister Suh Wook leaves the session of the National Assembly National Defense Committee's audit into the ministry in Seoul, Tuesday, as the inspection was suspended as rival parties clashed over a land development project involving Gyeonggi Province Governor Lee Jae-myung. YonhapBy Kang Seung-woo A lucrative, possibly illicit land development project involving the ruling party's leading presidential contender has been disrupting the National Assembly audit of government ministries and agencies, with the rival parties engaging in a war of words. The Assembly kicked off its annual audit into 745 ministries and agencies for a three-week run, Friday. The inspection, the last of its kind under the Moon Jae-in administration, comes as Gyeonggi Province Governor Lee Jae-myung, who is likely to be the ruling Democratic Party of Korea's (DPK) presidential candidate, has been under attack for his alleged involvement in the scandal surrounding the development project in the Daejang district of the city of Seongnam.The 56-year-old has been accused of having handed out business favors to

Oct 5, 2021By Kang Seung-woo
Land development scandal engulfs parliamentary audit

Gyeonggi governor nearing final candidacy of ruling party

Democratic Party of Korea presidential contender Lee Jae-myung announces his election platform at a community center in downtown Seoul, Monday. Joint Press CorpsLee cruises past ex-prime minister despite land development scandalBy Nam Hyun-wooGyeonggi Province Governor Lee Jae-myung is close to becoming the presidential candidate representing the ruling Democratic Party of Korea (DPK), maintaining a solid lead over three rivals despite increasing suspicions about a land development scandal in which the opposition bloc claims he was involved.In the DPK's regional primary vote in Incheon over the weekend, Lee won 53.8 percent of the ballots, outpacing former Prime Minister Lee Nak-yon's 35.4 percent, former Justice Minister Choo Mi-ae's 9.2 percent and Rep. Park Yong-jin's 1.4 percent. Party members living in the city who have voting rights participated in the vote. In a separate vote open to the public and general DPK members, Governor Lee also secured 58.1 percent of the ballots, consolidating his lead over former Prime Minister Lee's 33.4 percent. In nine regional elections and two

Oct 4, 2021By Nam Hyun-woo
Gyeonggi governor nearing final candidacy of ruling party

Assembly audit to target shippers

An HMM container ship is docked at Busan New Harbor on Aug. 25. YonhapBy Kim Hyun-binFreight rate hikes and collective actions imposed by local shipping companies are set to be among the key agenda items addressed during this year's government audit.Late last month, the Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee passed a revised bill stating that collective actions by shippers will not be subject to the antitrust act. The revised bill countered the 800 billion won ($674 million) in fines imposed by the Korea Fair Trade Commission (KFTC) on shipping companies.The KFTC expressed concerns about the revised bill, claiming it runs counter to global trends and could spark worries of abuse in other industrial sectors.Since 2018, the antitrust regulator has investigated allegations that HMM and others colluded to fix higher freight rates for a Southeast Asian sea route.After expanding its investigation into foreign firms in May, the regulator informed 23 local and foreign shippers that they may face fines adding up to 800 billion won in total for allegedly violating the

Oct 4, 2021By Kim Hyun-bin
Assembly audit to target shippers

Key suspect in Seongnam land development scandal arrested

This file photo shows Yoo Dong-gyu, a key suspect in a land development scandal in Seongnam, Gyeonggi Province. YonhapA Seoul court on Sunday issued an arrest warrant for a key suspect in a snowballing corruption scandal surrounding a lucrative land development project near Seoul, over charges that he played a key role in helping a private asset management firm collect huge profits from the project.Prosecutors requested an arrest warrant for Yoo Dong-gyu, former acting president of Seongnam Development Corp., on Saturday on charges of breach of trust and bribery in connection with the project to develop apartment complexes in Daejang-dong in the city of Seongnam, south of Seoul.On Sunday, the Seoul Central District Court issued the warrant for Yoo's arrest after questioning him for over an hour. The court ruled that Yoo posed a flight risk and could destroy evidence.The scandal centers on revelations that the previously unheard-of asset management firm, Hwacheon Daeyu, and its seven affiliates reaped profits of more than 1,000 times their investments after the firm was selected as a

Oct 3, 2021
Key suspect in Seongnam land development scandal arrested

Gyeonggi Governor Lee further solidifies lead in ruling party primary

Gyeonggi Province Governor Lee Jae-myung, a presidential contender of the ruling Democratic Party of Korea, speaks during the party's regional primary event held at Songdo Convensia in Incheon, Sunday. The governor won the Incheon regional primary by a landslide. Joint Press CorpsGyeonggi Province Governor Lee Jae-myung widened his lead in the ruling Democratic Party of Korea's (DPK) presidential primary race on Sunday by winning a comfortable majority of votes in the race's second "super week."After Sunday's primaries, Lee's support rose to 54.9 percent of the votes cast since the race began early this month, up from Saturday's 53.51 percent, while support for his rival Lee Nak-yon fell to 34.3 percent from 34.67 percent.Support for former Justice Minister Choo Mi-ae and Rep. Park Yong-jin came to 9.1 percent and 1.6 percent, respectively. The race is scheduled to wind up with a primary in Seoul on Oct. 10.If the current trend holds, Governor Lee is expected to win the party's ticket for March's presidential election without a run-off vote.Sunday's results showed again that the DPK'

Oct 3, 2021
Gyeonggi Governor Lee further solidifies lead in ruling party primary

'King' mark on opposition presidential contender's palm raises eyebrows

The Chinese character meaning “king” is seen written on the palm of conservative main opposition People Power Party presidential contender Yoon Seok-youl during a live television debate, Friday. YonhapBy Kwon Mee-yooThe Chinese character for "king" was seen written on the palm of conservative opposition presidential contender Yoon Seok-youl, stirring controversy that it might have a ritualistic meaning, which he denied.Yoon was seen with the character (王) on his left palm during a live television debate among the presidential hopefuls of the main opposition People Power Party (PPP), Oct. 1, when he waved his hand while talking. Soon, more pictures were revealed of Yoon bearing the letter on his hand during two previous debates. His rivals within the PPP and the liberal ruling party have raised suspicions that he is relying on shamanistic rituals to stay ahead in the presidential race.Rep. Hong Joon-pyo of the PPP, a seasoned politician who emerged as a major rival of Yoon after announcing his second presidential bid, criticized the former prosecutor general for "writ

Oct 3, 2021By Kwon Mee-yoo
'King' mark on opposition presidential contender's palm raises eyebrows
  • Court questions key suspect in Seongnam land development scandal

Court questions key suspect in Seongnam land development scandal

Lee Jae-myung, the front-runner in the ruling Democratic Party of Korea's presidential primary and former Seongnam mayor / YonhapA Seoul court on Sunday questioned a key suspect in the snowballing corruption scandal surrounding a lucrative land development project near Seoul over charges that he played key roles in helping a private asset management firm collect astronomical profits from the project.Prosecutors sought an arrest warrant for Yoo Dong-gyu, former acting president of Seongnam Development Corp., on Saturday on charges of breach of trust and bribery in connection with the project to develop the Daejang-dong district in the city of Seongnam, south of Seoul, into apartment complexes.On Sunday, the Seoul Central District Court questioned Yoon to determine whether to grant the arrest warrant for him. A decision is expected to be made later in the day.The scandal centers on revelations that the previously unheard-of asset management firm, Hwacheon Daeyu, and its seven affiliates reaped profits of more than 1,000 times their investments after the firm was selected as a civilian

Oct 3, 2021
Court questions key suspect in Seongnam land development scandal
  • 'King' mark on opposition presidential contender's palm raises eyebrows

Gyeonggi Governor Lee wins primary in southeastern region, cements lead in election race

Gyeonggi Governor Lee Jae-myung gives a speech during the Democratic Party of Korea's presidential primary event in Busan, Oct. 2. Yonhap Gyeonggi Province Gov. Lee Jae-myung scored a landslide victory in the ruling Democratic Party of Korea's (DPK) presidential primary in the southeast region Saturday, further consolidating his lead in the race to pick the party's flag bearer for the 2022 election.Lee won 55.3 percent of 35,832 ballots cast by registered party members in the Busan-Ulsan-South Gyeongsang Province region, the eighth round of the party's 11-leg primary race, according to the party. Lee Nak-yon, a former prime minister and leader of the party, finished second with 33.6 percent, followed by ex-Justice Minister Choo Mi-ae with 9.7 percent and Rep. Park Yong-jin with 1.3 percent.The results showed again that the DPK's primaries are little affected by the suspicions that the Gyeonggi governor is involved in a corruption scandal related to a residential are

Oct 2, 2021
Gyeonggi Governor Lee wins primary in southeastern region, cements lead in election race

Scandal-tainted lawmaker offers to resign from National Assembly

Rep. Kwak Sang-do leaves the National Assembly after offering to resign his seat, Oct. 2. Yonhap Rep. Kwak Sang-do, an independent lawmaker who left the main opposition People Power Party (PPP) a week ago, offered to resign his National Assembly seat Saturday amid mounting suspicions over his son receiving an unreasonably huge sum in severance pay from a firm at the center of a massive land development scandal."I can no longer work as a member of the Assembly amid widespread misunderstanding and distrust toward me," Kwak said in a news conference at the legislative body."Everything regarding the nature of my son's severance pay and whether I was involved in the land development project and the relevant company will be revealed through investigations," he said, calling for a swift and thorough probe.Kwak left the PPP last Sunday after media reports revealed that his son received 5 billion won ($4.24 million) as a severance payment after just seven years working at Hw

Oct 2, 2021
Scandal-tainted lawmaker offers to resign from National Assembly
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