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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.

Presidential race expected to heat up after this week's by-elections

Prime Minister Chung Sye-kyun presides over the Central Disease Control Headquarters' meeting to discuss the government's measures to contain the COVID-19 pandemic at the Government Complex Seoul, Sunday. YonhapBy Jung Da-minThe race for the next presidential election, set to be held in March 2022, is expected to heat up after Wednesday's by-elections, which includes mayoral elections for the country's two largest cities, Seoul and Busan. At the same time, the political heavyweights of the country's liberal and conservative blocs are gearing up for the upcoming competition with their presidential bids, waiting for the results of the by-elections, which will act as a barometer of public opinion for the upcoming presidential election.Prime Minister Chung Sye-kyun, a former six-term lawmaker with the ruling Democratic Party of Korea (DPK), who also served as the National Assembly speaker from 2016 to 2018, has expressed his intention to join the presidential race after the by-elections.When asked by reporters during his press briefing last week if he would resign from prime minister pos

Apr 5, 2021
Presidential race expected to heat up after this week's by-elections

Seoul mayor election tilts toward opposition, but chances remain to swing votes: analysts

Main opposition People Power Party's Seoul mayoral candidate Oh Se-hoon waves after canvassing near Achasan Station in Seoul's Gwangjin District on April 4. Courtesy of Oh Se-hoon's election campWith only two days to go before the bellwether by-elections, conservative opposition Seoul mayoral candidate Oh Se-hoon is widely seen as having the upper hand over his rival from the ruling party, but analysts predicted that an ascent of "shy progressive" votes has the potential to swing the final election result.Voters in Seoul and Busan will go cast ballots for the new mayors of the two biggest cities in South Korea on Wednesday in the by-elections, whose results are expected to set the tone for next year's presidential election as well as the final year of President Moon Jae-in's five-year term. Besides the two mayoral seats, two regional administrative posts and 17 seats on regional legislative councils are also up for grabs.The latest opinion polls, disclosed before the imposition of a ban on such polls' release for one week before election day, showed Oh of the main opposition People P

Apr 5, 2021
Seoul mayor election tilts toward opposition, but chances remain to swing votes: analysts
  • Parties mixed on highest-ever early voting turnout
  • Parties scramble for last-minute campaigns on eve of Seoul, Busan mayoral by-elections

Parties mixed on highest-ever early voting turnout

A voter casts his ballot for the Seoul mayoral by-election at a polling station in Seoul Station, Friday, the first day of the two-day early voting period for the April 7 by-elections. Korea Times photo by Shim Hyun-chulBy Jung Da-minBoth the ruling and main opposition parties have claimed the high early voting turnout in Wednesday's by-elections would work to their advantages, helping their candidates win the Seoul and Busan mayoral races.While the ruling Democratic Party of Korea (DPK) said the high early voting turnout showed the DPK supporters' solidarity and high participation in favor of its candidate Park Young-sun, the main opposition People Power Party (PPP) said people would have voted for its candidate Oh Se-hoon to judge the policy failures of the ruling bloc.Such claims were made after the early voting was conducted, Friday and Saturday, with record-high numbers of voters participating and the turnout coming to 20.54 percent. About 2.49 million out of 12.16 million eligible voters across the country cast their ballots in the mayoral by-elections as well as in smaller reg

Apr 4, 2021
Parties mixed on highest-ever early voting turnout
  • Seoul mayor election tilts toward opposition, but chances remain to swing votes: analysts

Early voting turnout for by-elections hits record high of over 20 percent

Employees of the National Election Commission Seoul's office collect ballots at a polling station in the Namyoung area in Seoul's Jung District, Saturday, after the early voting period for the Apeil 7 by-elections ended earlier that day. YonhapThe turnout for early voting in next week's by-elections came to 20.54 percent, the highest in South Korea's by-election history, the election authorities said Saturday. During the two-day advance voting period that ended 6 p.m. that day, 2.49 million of the 12.16 million eligible voters cast their ballots, according to the National Election Commission (NEC).The previous record high of 19.40 percent was posted in the Oct. 29 by-elections in 2014. In the 2018 local elections, the early voting turnout stood at 20.14 percent. South Koreans will choose new mayors of Seoul and Busan as well as 19 other public officials in the April 7 by-elections.In the capital, 1.84 million people, or 21.95 percent, voted early, as did 547,000 in the southern port city of Busan with a turnout of 18.65 percent. (Yonhap)

Apr 3, 2021
Early voting turnout for by-elections hits record high of over 20 percent

Moon's remaining presidency rests much on by-election outcome, with political realignment looming

President Moon Jae-in takes off his face mask during a meeting with aides at Cheong Wa Dae, March 22. Yonhap Apparently, the results of the upcoming Seoul and Busan mayoral by-elections will have a marked impact on President Moon Jae-in's final months of leadership. If the ruling Democratic Party of Korea (DPK) wins, it is expected to provide a much-needed boost to his beleaguered presidency. In the case of defeat, it will lose momentum further, with the specter of a lame duck waddling into public view.Moon would come under increased pressure to veer away from his key policy approach less than a year before a far more important election to pick his successor. One dilemma is the lack of progress in his signature policy drive to improve inter-Korean ties and pave the way for lasting peace on the Korean Peninsula. Plus, COVID-19 is still a headache.Residents in South Korea's two largest cities have been going to the polls since Friday morning in the two-day advance vot

Apr 3, 2021
Moon's remaining presidency rests much on by-election outcome, with political realignment looming
  • Moon vows continued push to honor Jeju April 3 'incident' victims

Moon vows continued push to honor Jeju April 3 'incident' victims

South Korean President Moon Jae-in, center, and first lady Kim Jung-sook, right, pay tribute to the victims of the April 3 Massacre on Jeju Island in 1948 during the tragedy's commemorating event held at Jeju 43 Peace Park in Jeju Island on April 3. Yonhap President Moon Jae-in assured Jeju residents and others Saturday that the government will faithfully implement a revised special law on compensating the victims and bereaved families of the April 3 massacre seven decades ago.He described the legislation as a "blueprint for building a house of history" related to the tragedy, speaking at a memorial ceremony held on the southern resort island."(The government) promises to elaborate the blueprint and faithfully implement it," he said in a televised speech at the Jeju April 3 Peace Park.In February, the National Assembly passed a revision bill on providing legal grounds for broader systematic compensation for the victims of the bloody uprising and surviving bereaved f

Apr 3, 2021
Moon vows continued push to honor Jeju April 3 'incident' victims
  • Moon's remaining presidency rests much on by-election outcome, with political realignment looming

Hyundai to launch Genesis luxury brand in China

Hyundai Motor Group introduces its luxury G80 sedan and GV80 SUV during the Genesis Brand Night event held at the Shanghai International Cruise Terminal, Friday. Courtesy of Hyundai Motor Group By Baek Byung-yeulHyundai Motor Group has decided to launch its Genesis luxury brand in the Chinese market, introducing the G80 sedan and GV80 SUV there, aiming to vie with prominent brands including Mercedes-Benz, BMW, Audi and Lexus in the world's largest car market.On Friday, Genesis held a China launching event called “Genesis Brand Night” at the Shanghai International Cruise Terminal. Featuring executives of the automotive group and local Chinese media, Genesis also displayed the G80 and the GV80 models.“By targeting the younger generation, key customers in China's rapidly growing luxury car market, Genesis aims to strengthen its status as the first luxury car brand in Korea and to compete against the world's leading brands,” a Hyundai Motor Group official said.The offic

Apr 2, 2021By Baek Byung-yeul
Hyundai to launch Genesis luxury brand in China

Younger generations turning away from liberal ruling party

Park Young-sun, left, the ruling Democratic Party of Korea's Seoul mayoral by-election candidate, casts a ballot at an early voting station in Jongno District Office, central Seoul, Friday, while Oh Se-hoon, candidate of the main opposition People Power Party, waves during a campaign at Sangam-dong in western Seoul, Friday. Young voters are turning toward Oh of the conservative party, reflecting frustrations with the current liberal Moon Jae-in administration. Joint press corpsBy Kwon Mee-yooIt is commonly perceived that younger people are more liberal than older generations and tend to vote for the more liberal parties or candidates. Looking at the Seoul mayoral by-election slated for April 7, however, the usual tendency doesn't seem to be applied, as polls have shown that people in their 20s and 30s are more supportive of Oh Se-hoon of the main opposition conservative People Power Party (PPP) than Park Young-sun of the ruling liberal Democratic Party of Korea (DPK).With the election day drawing closer, the release of new opinion polls has been officially banned since Friday, b

Apr 2, 2021By Kwon Mee-yoo
Younger generations turning away from liberal ruling party

Samsung to attend White House meeting on chip shortage

An American flag flies above the White House in Washington, D.C., on Jan. 9. AP-YonhapBy Kim Bo-eunSamsung Electronics officials are set to attend a White House meeting with other firms in the industry later this month to discuss ways to tackle the global chip shortage.A Samsung Electronics official said Friday he could not confirm the meeting, but the top chip maker was mentioned along with General Motors and GlobalFoundries as companies that would meet with U.S. National Security Adviser Jake Sullivan and National Economic Council Director Brian Deese to discuss the issue, in a Bloomberg report published April 1.According to the report, the White House is also in talks with Congress and foreign allies over dealing with the semiconductor shortage.The global shortage of semiconductors is attributed to a surge in demand for electronic devices amid the COVID-19 pandemic, as work and school were brought home.Global automakers are keeping their production lines idle due to the chip shortage. The shortage was exacerbated after carmakers reduced orders and scaled down production in the ear

Apr 2, 2021By Kim Bo-eun
Samsung to attend White House meeting on chip shortage
  • Samsung responding to climate change agilely utilizing eco-friendly technology

Prosecution sells confiscated bitcoins for 1st time, making huge profit

gettyimagesbank By Yi Whan-wooThe prosecution recently sold bitcoins seized from a man convicted of running a major pornography website. It made 45 times more profit than the currency was initially worth four years ago, when the man was arrested.This is the first time that a stash of digital coins linked to criminal activities was sold by authorities after being forfeited and left in cold storage.The Suwon District Prosecutors' Office said last week it had sold 191 bitcoins seized from a man identified only by his surname Ahn. The coins were collectively worth 270 million won in spring 2017 when they were seized, and were sold for 12.29 billion won ($10.9 million) on March 25.The cash went into the state coffers.The bitcoins had been in cold storage, or in an offline wallet for bitcoin storage, as there were no laws or regulations for dealing with cryptocurrency.Their sale was made possible with the enactment of specific cryptocurrency laws on March 25, amid a growi

Apr 2, 2021By Yi Whan-woo
Prosecution sells confiscated bitcoins for 1st time, making huge profit
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