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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.

Moon's approval rating hits all-time low: poll

President Moon Jae-in / YonhapPresident Moon Jae-in's approval rating has fallen to the lowest point since the start of his tenure in 2017, a new poll showed Monday.Just 33 percent of South Koreans approve of his leadership, while 62.6 percent disapprove, according to a survey by Realmeter. It conducted the tracking poll on 2,523 people, aged 18 and older, nationwide for five days through last Friday.The latest approval number marks a 0.8 percentage-point drop from a week earlier. The previous record low of 33.4 percent came in the first week of April.Public support for the ruling Democratic Party (DP) dived 2.9 percentage points to 27.8 percent, the lowest since the launch of the liberal administration, and that for the main opposition People Power Party gained 0.7 percentage point to 37.3 percent. The margin of error is plus or minus 2 percentage points with a confidence level of 95 percent.The Moon administration, which has only a year left in power, is struggling to contain the spread of COVID-19 and home price hikes in major cities. Many people are also displeased with the pace

May 3, 2021
Moon's approval rating hits all-time low: poll

5-term lawmaker, ex-Incheon mayor elected new ruling party chairman

Rep. Song Young-gil, center, celebrates his election as the new chairman of the Democratic Party during a party congress in Seoul, Sunday. YonhapFive-term legislator and former Incheon Mayor Rep. Song Young-gil was elected the new chairman of the ruling Democratic Party Sunday as it seeks a major reform drive following a recent election defeat. Song earned 35.6 percent of the ballots cast before and during the party's congress held at its headquarters in Seoul earlier in the day, defeating Reps. Hong Young-pyo and Woo Won-shik, both in their fourth terms. The election of Song comes as the DP, which commands 174 of the 300 parliamentary seats, is facing an urgent need to regain public confidence following its crushing defeat in the Seoul and Busan mayoral by-elections last month. The new chairman will steer the party through to the presidential election in March 2022 against the odds of falling approval ratings for President Moon Jae-in, who is affiliated with the DP."I am confident that now is the time we ceaselessly move forward to make changes to secure victory," the 58-year-old s

May 2, 2021
5-term lawmaker, ex-Incheon mayor elected new ruling party chairman

Song becomes new ruling party head

Song Young-gil, a five-term lawmaker of the ruling Democratic Party of Korea, waves the party's flag at its headquarters in Seoul, Sunday, after being elected new leader. He won 35.6 percent of the votes from party members and the public. Yonhap

May 2, 2021By Bahk Eun-ji
Song becomes new ruling party head

Oceans minister nominee's wife embroiled in illegal porcelain sale

An Instagram post showing antique porcelain dishware at a cafe owned by Oceans and Fisheries Minister nominee Park Jun-young's wife, who is accused of illegally bringing in the pieces from the U.K. and selling them. Captured from Instagram By Kwon Mee-yooThe wife of Oceans Minister nominee Park Jun-young has been accused of smuggling porcelain pieces into the country and illegally selling them. According to Rep. Kim Sun-gyo of the main opposition People Power Party (PPP), Park's wife, surnamed Woo, purchased antique porcelain tea cups and dishes when her husband was a minister counsellor at the Korean Embassy to the U.K. from 2015 to 2018. She then brought them into Korea as part of her diplomatic moving package without making a customs declarationWoo opened a cafe in Goyang, Gyeonggi Province, in December 2019 and allegedly sold some of the antique porcelain dishware at the cafe, which was registered as a restaurant business and thus legally not allowed to sell suc

May 2, 2021By Kwon Mee-yoo
Oceans minister nominee's wife embroiled in illegal porcelain sale

South Korea vows to coordinate with US for early resumption of nuke talks with North Korea

South Korean President Moon Jae-in and U.S. President Joe Biden / EPA-YonhapThe Ministry of Foreign Affairs said Saturday it will continue to coordinate with the United States to help encourage Washington to resume long-stalled denuclearization talks with Pyongyang at an early date.The U.S. said Friday it will not seek a "grand bargain" in its denuclearization negotiations with North Korea, but will continue to engage with Pyongyang to completely denuclearize the Korean Peninsula, after the Biden administration wrapped up its North Korea policy review."South Korea and the U.S. will continue consultations over the North Korea policy on the occasion of their leaders' summit scheduled for this month and meetings of their foreign ministers," said an official at the foreign ministry.The official said Seoul has received detailed explanations in advance from the U.S. over the outcome of the North Korea policy review.President Moon Jae-in and U.S. President Joe Biden will hold their first summit in Washington, May 21 to discuss the North Korea nuclear issue and ways to strengthen the Seoul-W

May 1, 2021
South Korea vows to coordinate with US for early resumption of nuke talks with North Korea
  • New US policy seeks 'practical' diplomacy with North Korea for complete denuclearization: Psaki

Moon vows more efforts to create jobs in his Labor Day message

President Moon Jae-in said Saturday his government will step up efforts to create more employment opportunities, which were severely dented by the COVID-19 pandemic, in his message to mark Labor Day. YonhapPresident Moon Jae-in said Saturday his government will step up efforts to create more employment opportunities, which were severely dented by the COVID-19 pandemic, in his message to mark Labor Day.Moon also reaffirmed the government's unwavering commitment to building a society that abides by labor standards and guarantees workers' rights."The government is doing its best to bolster job recovery and strengthen the employment safety net on the belief that maintaining jobs is the first step toward recovery. But there are still many people coping with difficulties," Moon wrote on Facebook."The government will diligently continue to promulgate policies to create more jobs and prevent workers from suffering from a delay in receiving pay, and bullying at work," he said.South Korea reported the first job additions in March after witnessing losses for the 12th straight month in February

May 1, 2021
Moon vows more efforts to create jobs in his Labor Day message

Cryptocurrency surfaces as issue for presidential election

gettyimagesbankBy Nam Hyun-wooRegulations on Bitcoin and other cryptocurrencies are surfacing as an issue for next year's presidential election here, as parties and presidential hopefuls are formulating policies to win support from the younger generation, who are flocking to the digital tokens with the belief that these are the only lucrative investment opportunity left for them. According to party officials, the ruling Democratic Party of Korea (DPK) and the main opposition People Power Party (PPP) have both begun policy and regulation studies on cryptocurrencies.During a meeting with reporters, Tuesday, DPK spokesman Rep. Han Jun-ho said the party will explore measures on the cryptocurrency issue within its policy planning committee. Initially, the DPK was reported to be planning to set up an organization within the party to look into digital currency policies. However, it took a step back, in what appears to be a cautionary move to prevent policies or bills from being leaked at an immature stage. Despite the party-level moves, DPK lawmakers are individually speaking out on proper

May 1, 2021By Nam Hyun-woo
Cryptocurrency surfaces as issue for presidential election

Korea mulls raising travel alert for India amid virus surges

A relative of a person who died of COVID-19 mourns at a crematorium in Jammu, India, Friday. AP-YonhapKorea could raise the travel alert for India amid a massive spike in COVID-19 cases in the country, the foreign ministry said Friday.The ministry is considering raising the alert by one notch to "red," recommending Koreans leave India unless there are essential reasons, officials said."We are closely watching the situation in India and reviewing measures and what we can do," an official said when asked about the possibility of raising the travel advisory.The government has only issued the red warning once over coronavirus fears so far ― for China's Hubei province where the city of Wuhan, the original epicenter of the disease, is located. The measure was in effect from January to August.The ministry is also in talks with Indian officials and local air carriers about whether to increase non-regular flights to help South Koreans staying in India to return home, the official said.Korean Air and Asiana Airlines, the country's two biggest carriers, plan to provide one flight and four fligh

Apr 30, 2021
Korea mulls raising travel alert for India amid virus surges

Foreign minister to hold talks with US, British, Indian and EU counterparts at G7 gathering

Foreign Minister Chung Eui-yong will hold bilateral talks with his U.S., British, Indian and European Union counterparts on the margins of a Group of Seven (G7) session in London next week, his ministry said Friday.Foreign Minister Chung Eui-yongThe first in-person gathering of G7 foreign and development ministers in over two years is set to take place from Monday to Wednesday. South Korea, Australia, India, South Africa and Brunei, the chair of the Association of Southeast Asian Nations, have been invited as guests to the meeting.Chung is scheduled to hold talks with his British counterpart, Dominic Raab, for what will be the two countries' sixth foreign ministerial strategic dialogue at the Chevening House in Kent near London on Thursday.The two sides plan to discuss the stable development of bilateral relations following Britain's exit from the European Union, the situation on the Korean Peninsula and global issues, such as climate change and public health, the ministry said.Chung also plans to meet separately with his U.S., Indian and EU counterparts ― Antony Blinken, Subrahmanya

Apr 30, 2021
Foreign minister to hold talks with US, British, Indian and EU counterparts at G7 gathering

Securities firms rake in record-high Q1 net profits

The view of Seoul's financial district Yeouido / gettyimagesbank By Anna J. ParkAmple liquidity globally and booming stock markets have benefitted local securities firms, which raked in record-high net profits during the first three months of the year. Brokerages have been the biggest beneficiaries of market liquidity, following stimulus packages rolled out by governments around the world to address the COVID-19 pandemic. And the benchmark KOSPI and tech-heavy KOSDAQ both rallied in the first quarter.Industry sources said Friday that the first-quarter net profits achieved by the country's seven major securities firms, including NH Investment & Securities, Korea Investment & Securities, Mirae Asset Securities and Samsung Securities, were estimated to have increased 14-fold year-on-year to around 1.63 trillion won ($1.46 billion).The entire brokerage industry, including smaller securities companies, is estimated to have earned more than 2 trillion won ― almost equalin

Apr 30, 2021By Anna J. Park
Securities firms rake in record-high Q1 net profits
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