South Korea - The Korea Times

Seoul to double payments to UN green fund

South Korean President Moon Jae-in makes his address at the United Nations Climate Action Summit, at the United Nations, New York City, Tuesday (KST). YonhapBy Kim Yoo-chulUNITED NATIONS ― South Korea plans to double the amount it has donated to the Green Climate Fund (GCF), bringing the country's total contribution to $200 million by 2023, Cheong Wa Dae said, Tuesday (KST).In an address at the United Nations Climate Action Summit, President Moon Jae-in said its spending is in line with South Korea's commitment to the international community for the sake of sustainable development and climate change responses.“As South Korea serves as the chair of the Executive Board of the United Nations Development Program, this year, we will fulfill our responsibilities as a member of the international community. I hope that our contributions will serve as an opportunity to further facilitate the activities of the GCF,” the President said. The GCF fund was created as an initiative to convince underdeveloped countries, which aren't responsible for climate change, to commit to curb their

Sep 24, 2019By Kim Yoo-chul

Seoul to double payments to UN green fund

Trump, Moon agree not to seek 'offensive stance' against North Korea

Novelist's lone fight to save embattled Cho Kuk

Novelist Gong Ji-young answers questions at a press conference on her new book “Harry” at the Press Center in central Seoul in this July 30 file photo. / Korea Times fileGong Ji-young fires at prosecution, bickers with critics By Kang Hyun-kyungNovelist Gong Ji-young has gone all out to defend embattled Justice Minister Cho Kuk who, together with his wife, son and daughter, are embroiled in multiple allegations, including forgery and violation of the stock market law prohibiting insider trading. Gong described Prosecutor General Yoon Seok-youl, who has led the thorough investigation into the Cho family and ratcheted up pressure on the justice minister to step down for questioning, “a traitor” who turned his back on people who pinned high hopes that he would overhaul the prosecution.She was aggressive toward anyone critical of the justice minister. The best-selling author lashed out at the liberal commentator Jin Joong-kwon, a Dong Yang University professor, for staying mum on “his friend in need” (Cho) and distancing himself from trouble for fear o

Sep 24, 2019By Kang Hyun-kyung

Novelist's lone fight to save embattled Cho Kuk

JB Financial beefs up marketing in Cambodia

An outdoor billboard of Phnom Penh Commercial Bank in Siem Reap, Cambodia / Courtesy of JB Financial GroupBy Lee Kyung-min JB Financial Group is seeking to strengthen marketing in Cambodia, home to Phnom Penh Commercial Bank (PPCBank), a highly lucrative subsidiary of Jeonbuk Bank, the group's bank subsidiary, the group said Tuesday. The bank in the Southeast Asian country is fast-rising cash cow for the group, with its interest income having jumped to 19 billion won ($15.9 million) in the first six months of 2019, a 32.7 percent increase from a year earlier. The interest income, surpassing the 10 billion won level for the first time since the group acquired the bank, was the top performance among Korean financial services firms with a business presence there. The notable performance followed strong retail business there with localization of manpower, a strategy to hire 98 percent of bank officials at 19 branches from the country to enhance need-based, tailored customer service that extended to corporate financing for small- and medium-sized enterprise (SMEs). The bank in June signed

Sep 24, 2019By Lee Kyung-min

JB Financial beefs up marketing in Cambodia

Opposition floor leader under fire for son's nationality

Rep. Na Kyung-won, left, floor leader of the main opposition Liberty Korea Party, speaks during a meeting at the National Assembly, Monday. YonhapBy Do Je-hae Liberty Korea Party (LKP) floor leader Rep. Na Kyung-won has come under fire for the nationality of her son, a student at Yale University, on the sidelines of a widening prosecutorial probe into Justice Minister Cho Kuk over allegations of illegalities involving his daughter's university admission. The main opposition floor leader brushed off suspicions about her son having dual nationality as “fake news” and has calling on the ruling party to respond to her proposal last week to launch a special counsel into the allegations involving the children of not just herself, but also President Moon Jae-in, Minister Cho and LKP Chairman Hwang Kyo-ahn. They all have children who have been dogged by suspicions of receiving preferential treatment either with schools, employers or mandatory military service.During a supreme council meeting at the National Assembly, Monday, she countered the rising suspicions that her son was bo

Sep 23, 2019By Do Je-hae

Opposition floor leader under fire for son's nationality

Seoul, Washington to discuss range of challenges at defense dialogue

  The flags of Republic of Korea, right, and the U.S. / Getty Images BankBy Jung Da-min Seoul and Washington are set to hold the 16th Korea-U.S. Integrated Defense Dialogue (KIDD) at the Ministry of National Defense complex in Seoul from Thursday to Friday.The working-level defense talks between the two countries comes after the ninth summit between President Moon Jae-in and U.S. President Donald Trump in New York, Tuesday (KST), on the sidelines of the United Nations General Assembly from Sept. 17 to 30. A wide range of issues are likely to be on the agenda of the biannual meeting ― which comes ahead of the upcoming working-level denuclearization talks ― including Seoul's ending of General Security of Military Information Agreement (GSOMIA) with Japan and the transfer of wartime operational control and the return of U.S. Forces Korea (USFK) bases, both from Washington to Seoul. Deputy Minister for National Defense Policy Chung Suk-hwan / Courtesy of National DefenseU.S. Deputy Assistant Secretary of Defense for East Asia Heino Klinck / From U.S. Department of Defense websi

Sep 23, 2019

Seoul, Washington to discuss range of challenges at defense dialogue

'Resumption of US-NK nuclear talks to drive inter-Korean peace'

Unification Minister Kim Yeon-chul delivers a speech while participating in an academic seminar organized to celebrate the 30th anniversary of the University of North Korean Studies and the 47th anniversary of the Institute for Far Eastern Studies of Kyungnam University, in Seoul, Tuesday. YonhapBy Lee Min-hyungThe annual United Nations General Assembly this week will serve as a key stepping stone for smooth progress in nuclear talks between the United States and North Korea, South Korea's Unification Minister Kim Yeon-chul said Monday.“President Moon Jae-in plans to explain the outcomes and ongoing efforts surrounding peace processes on the Korean Peninsula, and secure continued support from the international community in a speech there,” Kim said in a congratulatory address celebrating the 30th anniversary of the founding of the University of North Korean Studies in Seoul.The remark came amid an upbeat mood for resumption in suspended nuclear dialogues between Washington and Pyongyang. Following the breakdown of their second summit in Hanoi last February, the talks on d

Sep 23, 2019By Lee Min-hyung

'Resumption of US-NK nuclear talks to drive inter-Korean peace'

Local councils face hurdles in purchase restriction on Japanese firms

Chungcheongnam-do CouncilBy Park Ji-wonProvincial councils have been facing complications in passing bills that would restrict them from purchasing and procuring products from Japanese companies categorized as “Japanese war crime firms.”During a plenary session on Sept. 9, the South Chungcheong Province Council failed to put to vote a measure to prevent the Japanese firms, which were said to have exploited Korean forced laborers and provided military products to imperial Japan's war efforts during its 1910-45 occupation of Korea, from bidding on public contracts in the region. The Council members failed to narrow differences on a specific definition of “war crime companies” and clear up possible concerns about the expected negative impact on South Korean companies working with those Japanese firms.The Sejong City Council also postponed a vote on the bill on purchase restrictions against them during its plenary session on Sept. 10 citing an insufficient list of those firms.Unlike small provincial councils, major city councils including those of Seoul and Busan

Sep 22, 2019By Park Ji-won

Local councils face hurdles in purchase restriction on Japanese firms

Assembly speaker shows support for Samsung in Hungary

National Assembly Speaker Moon Hee-sang, second from left, visits the Samsung SDI plant located near Budapest, Hungary, Saturday (local time), to encourage executives and staff there. Courtesy of National AssemblyBy Jung Da-min National Assembly Speaker Moon Hee-sang visited Samsung SDI's electric vehicle (EV) battery plant in Goed, Hungary, about 30 kilometers north of Budapest, to encourage executives and staff there, Saturday (local time). Moon was visiting the country from Friday to Saturday, as a part of his official visits to Slovakia, Hungary and Kazakhstan from Sept. 18 to 25. “The brand of Samsung itself has a global image (of South Korea),” Moon said. “Samsung and South Korea are increasing their global statuses together.” The EV plant near Budapest has been expanding its presence in the Hungary market, after Samsung SDI opened the plant last year. It is one of the three parts of the company's global EV battery production “tripod” along with plants in Ulsan, South Korea, and Xian, China. Established in 2001, Samsung SDI's Hungary plant ha

Sep 22, 2019

Assembly speaker shows support for Samsung in Hungary

Car battery makers rushing to build plants abroad

FM visits Busan to ensure successful Korea-ASEAN summit

Ambassador Suh Jeong-in, head of the preparatory committee for the Korea-ASEAN special summit, left, briefs Foreign Minister Kang Kyung-wha, at the BEXCO convention hall in Busan, Saturday. Courtesy of Ministry of Foreign AffairsBy Lee Min-hyungForeign Minister Kang Kyung-wha visited Busan, Saturday, as part of government efforts to ensure a successful hosting of the special summit between South Korea and the Association of Southeast Asian Nations (ASEAN).The Nov. 25 to 27 Korea-ASEAN summit, to take place at the Busan Exhibition and Convention Center (BEXCO), is the largest international conference organized during the Moon Jae-in administration. More than 10,000 participants, including official delegations and representatives from the business and other sectors, will visit Busan. In addition to a series of bilateral summits, there will be a wide range of events on the sidelines. Seoul is placing special importance on the Korea-ASEAN special summit in light of President Moon Jae-in's strong push for his so-called New Southern Policy.The Moon administration is seeking to strengthen e

Sep 22, 2019By Lee Min-hyung

FM visits Busan to ensure successful Korea-ASEAN summit

US-NK could compromise on term 'denuclearization'

President Moon Jae-in and first lady Kim Jung-sook wave before leaving for New York to attend the United Nations General Assembly, from Seoul Airport in Seongnam, Gyeonggi Province, Sunday. Yonhap By Kim Yoo-chulNEW YORK - President Moon Jae-in flew to New York, Sunday, to attend this year's United Nations General Assembly amid renewed hopes for a restart of dialogue aimed at ending Pyongyang's nuclear weapons program.Cheong Wa Dae said the President planned to use his visit to the U.N. to highlight South Korea's efforts to bring lasting peace to the Korean Peninsula. More importantly, Moon is widely expected to suggest to the international community that a step-by-step approach be taken toward denuclearizing the North. Moon arrived at JFK International Airport, Monday morning (KST). A series of bilateral summits has been confirmed. On Tuesday (KST), the President will hold a summit with Polish President Andrzej Duda, followed by meetings with U.N. Secretary General

Sep 22, 2019By Kim Yoo-chul

US-NK could compromise on term 'denuclearization'

Moon in New York for summit with Trump, UN session

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