South Korea - The Korea Times

Moon asks chaebol to invest more

President Moon Jae-in, center, speaks at the start of his meeting with 128 executives from the country's top business groups at Cheong Wa Dae, Tuesday. Participants included Samsung Vice Chairman Lee Jae-yong, SK Chairman Chey Tae-won, LG Chairman Koo Kwang-mo and Hyundai Motor Executive Vice Chairman Chung Eui-sun. YonhapBy Kim Yoo-chulPresident Moon Jae-in asked the heads of the country's top conglomerates to invest more, Tuesday, vowing to revamp regulations to help them diversify their revenue sources.“I want firms to invest more in strategic and innovative sectors to transform our economy. The government will revamp regulations to help this transformation,” Moon said during a meeting with the executives at Cheong Wa Dae.Moon said he felt “sorry” to see a steady decrease in facility investment by top conglomerates. “Big businesses are reviewing their investment plans, which I believe will be heavy and sizable. The government will create a special team to help make that happen,” Moon said.The President said enthusiasm for fuel cells, electric ve

Jan 15, 2019By Kim Yoo-chul

Chaebol, CEOs, and chairmen

Ousted president's prime minister joins main opposition party

Former Prime Minister Hwang Kyo-ahn, right, ahead of joining the largest opposition Liberty Korea Party, meets the party's interim leader Kim Byong-joon at the party's conference hall at the National Assembly in Seoul, Tuesday. YonhapFormer Prime Minister Hwang Kyo-ahn, who worked under the scandal-hit, ousted President Park Geun-hye, joined the main opposition party Tuesday, possibly heating up competition for the conservative party's new leadership.Hwang has been considered one of the potential contenders in the election for the Liberty Korea Party's leadership slated for Feb. 27.A recent poll showed that conservative voters prefer Hwang the most as a potential contender in the 2022 presidential election.Still, the former prime minister faces a stigma that he is closely affiliated with former conservative President Park, who was ousted in March 2017 due to a massive corruption scandal.Hwang served as acting president when Park was suspended from office by a parliamentary impeachment in late 2016.The LKP is still reeling from the fallout of Park's ouster.Hwang rejected criticism ove

Jan 15, 2019

Ousted president's prime minister joins main opposition party

North Korea-US high-level talks may resume soon

Kim Yong-chol, center, vice chairman of the regime's ruling Workers' Party Central Committee, shakes hands with U.S. Secretary of State Mike Pompeo, right, while seeing him off at Pyongyang International Airport last Oct. 7. / YonhapSeoul urged to raise voice against possible 'ICBM deal'By Lee Min-hyungPreparations for the second summit between the United States and North Korea are in full swing amid signs that their resumption of pre-summit high-level talks is imminent.U.S. Secretary of State Mike Pompeo said Sunday (local time) that Washington and Pyongyang are in discussion to “work out the details” over the highly anticipated summit between U.S. President Donald Trump and North Korean leader Kim Jong-un.The remark is seen as an implication that the two sides are in an advanced level of talks to fine-tune such details as the timetable, location and agenda for the summit.Starting this year, the two sides have shown signs of resuming their stalled talks on denuclearization of the North, with Trump and Kim exchanging their bilateral willingness for the summit to resolve t

Jan 14, 2019By Lee Min-hyung

North Korea-US high-level talks may resume soon

US may discuss Gaeseong complex reopening

Moon wants to meet KCTU leaders

President Moon Jae-in speaks during a meeting with senior presidential secretaries at Cheong Wa Dae, Monday. Moon ordered a thorough investigation into rape allegations raised by female athletes, including Olympic short track gold medalist Shim Suk-hee, against their male coaches and called for stern punishment. YonhapBy Kim Yoo-chulPresident Moon Jae-in plans to meet representatives of the Korean Confederation of Trade Unions (KCTU), one of the two major umbrella unions here, at Cheong Wa Dae next month, a Cheong Wa Dae official said, Monday.“The President plans to hold a face-to-face meeting with KCTU representatives at Cheong Wa Dae, at the earliest, in a step to win backing from the labor group for the President's economic agenda,” the official said by telephone, adding presidential chief of policy Kim Soo-hyun held a behind-closed-door meeting with KCTU chief Kim Myung-hwan last week.“KCTU chief Kim made it clear again that the labor group won't change its hardline stance toward a flexible workweek hour system saying the policy counteracts the reduction of the

Jan 14, 2019By Kim Yoo-chul

Ex-PM shifts to politics, backed by Park Geun-hye loyalists

Then-acting President and Prime Minister Hwang Kyo-ahn walks into a meeting room to preside over a Cabinet meeting at the government complex in Seoul in this March 14, 2017 file photo. / Korea Times fileBy Park Ji-wonFormer Prime Minister Hwang Kyo-ahn's move to join the main opposition Liberty Korea Party (LKP) is drawing mixed reactions from inside and outside the party.The LKP announced that Hwang will have a press conference on Tuesday after joining the party to speak about his determination as a conservative politician.Hwang served as acting president after the impeachment of then President Park Geun-hye in late 2016 until May 11, 2017, after the presidential election. He has been listed as one of the leading presidential contenders among conservatives in opinion polls. “Many people asked me why I would join the LKP now. Some say I should have joined the party earlier or later if I wanted to run for president,” Hwang said in a post to Facebook on Sunday. “However, most importantly, I should think about the country and people first rather than me as they are suf

Jan 14, 2019By Park Ji-won

Ex-PM shifts to politics, backed by Park Geun-hye loyalists

US may discuss Gaeseong complex reopening

The Gaeseong Industrial Complex in the North is seen from the South in this file photo. / YonhapBy Kim Bo-eunPyongyang may seek to offer resuming operation of the inter-Korean Gaeseong Industrial Complex as a possible corresponding measure in return for denuclearization measures. However, this needs U.S. approval due to multiple sanctions which may bar the operation of the complex.South Korean and U.S. officials are likely to discuss the matter this week.In his New Year address, North Korean leader Kim Jong-un expressed wishes to resume operation of the Gaeseong Industrial Complex and Mount Geumgang tours.President Moon Jae-in in a press conference last week welcomed Kim's remarks and stated the government would discuss the matter with the U.S. and the U.N. to resolve the issue of sanctions.A number of U.N. Security Council sanctions on the North prohibit the operation of the industrial region, a joint venture of the South's capital and skills, and the North's land and labor.Resolution 2375 says “states shall prohibit, by their nationals or in their territories, the opening, ma

Jan 14, 2019By Kim Bo-eun

US may discuss Gaeseong complex reopening

Moon to meet business leaders on Tuesday

President Moon Jae-in makes his opening remarks at the start of a meeting with senior presidential secretaries at Cheong Wa Dae, Monday. YonhapBy Kim Yoo-chulPresident Moon Jae-in will meet a group of business leaders Tuesday at Cheong Wa Dae for discussions on pending economic issues.“There won't be pre-selected questions and scenarios. We have no plan to limit questions. All participants will be given the chance to ask the President any questions. Questions will be answered by the President and ministers of relevant ministries,” Cheong Wa Dae said in a press release, adding the meeting will last for 150 minutes from 2 p.m. Top decision-makers from about 130 leading conglomerates will attend the “townhall-style” meeting,” allowing participants to voice their opinions freely without any formalities and where the President can openly communicate.High-profile executives who will attend the meeting include Samsung Vice Chairman Lee Jae-yong, Hyundai Motor Group Executive Vice Chairman Chung Eui-sun, LG Chairman Koo Kwang-mo, Lotte Chairman Shin Dong-bin, GS

Jan 14, 2019By Kim Yoo-chul

Moon to meet business leaders on Tuesday

Moon to meet Samsung chief, dozens of business tycoons on Tuesday

President Moon Jae-in, second from right, speaks to leaders of South Korea's major conglomerates in this photo taken in Washington, U.S., June 28, 2017. Moon will hold a meeting with top executives of about 130 big companies at the presidential office Cheong Wa Dae on Tuesday. Korea Times filePresident Moon Jae-in will hold a meeting this week with the leaders of the country's largest businesses, the presidential office Cheong Wa Dae said Monday.The meeting will be held Tuesday at Cheong Wa Dae, involving top executive officers of about 130 major businesses, including vice chairman Lee Jae-yong of Samsung Electronics.The scheduled meeting follows the president's meeting with small and medium-sized business leaders last week."As in the meeting with small, medium-sized businesses and venture firms, President Moon will hold free discussions with the business leaders of large conglomerates," Cheong Wa Dae said in a press release.The president earlier said he will also hold separate meetings with small shop owners and labor leaders.Cheong Wa Dae spokesman Kim Eui-kyeom said the senior sec

Jan 14, 2019

Moon to meet Samsung chief, dozens of business tycoons on Tuesday

Cheong Wa Dae stresses communication

Presidential Chief of Staff Noh Young-min, right, smiles in his meeting with the ruling Democratic Party Korea (DPK) leader Lee Hae-chan during his visit to the National Assembly, Jan. 11. Yonhap By Kim Yoo-chulPresident Moon Jae-in's chief press secretary said Sunday that Cheong Wa Dae will simplify its communication channels for effective and efficient communication with reporters and reporters.“Cheong Wa Dae will change the way the presidential office communicates with reporters and the public for greater for greater simplicity. Presidential spokesman Kim Eui-kyeom will handle all questions and requests by reporters. My role is only to respond to questions relating to communication policy-related issues,” chief press secretary Yoon Do-han said in a lunch meeting with reporters.Yoon, a former broadcast journalist who replaced Yoon Young-chan, added he will take a back-office role supporting presidential spokesman Kim.“As I will be sharing all things happening insi

Jan 13, 2019By Kim Yoo-chul

DPK pledges to boost inter-Korean exchanges

Rep. Lee Hae-chan, the chairman of the ruling Democratic Party of Korea (DPK), speaks during a press conference held to commemorate the New Year at the National Assembly, Sunday. / Yonhap By Park Ji-wonThe ruling Democratic Party of Korea (DPK) said Sunday it will commit itself to explore ways to boost inter-Korean projects.Saying “achieving peace means saving the economy,” Rep. Lee Hae-chan, the leader of the DPK, stressed the importance of inter-Korean economic cooperation during a New Year press conference.“This year will be critical in building an economic bloc on the Korean Peninsula and finding new ways for Korean firms and the government to complete tasks ranging from resuming operations at the Gaeseong Industrial Complex and tour programs to Mount Geumgang, to connecting inter-Korean railways and roads and the Eurasian continent.”His remarks tally with President Moon Jae-in statements unveiled in a New Year press conference at Cheong Wa Dae. The President sa

Jan 13, 2019By Park Ji-won

Politics