Featured South Korea

South Korean lawmakers on Friday voted decisively to impeach President Park Geun-hye following a scandal that gripped the nation for weeks and sparked massive anti-government demonstrations.  Legislators in Seoul voted 234 to 56 to topple Ms Park, whose power transfers immediately to the prime minister while the matter goes to… Read More
8th October 2018
AP — Former South Korean President Lee Myung-bak was convicted and sentenced to 15 years in prison Friday in a corruption case that has badly tainted his status as the country’s first leader with a business background who once symbolized the country’s economic rise. Lee’s conviction… Read More
9th August 2018
Samsung’s Galaxy S7 smartphones contain a microchip security flaw, uncovered earlier this year, that has put tens of millions of devices at risk to hackers looking to spy on their users, researchers told Reuters. The Galaxy S7 and other smartphones made by Samsung Electronics Co Ltd (005930.KS) were previously thought… Read More
23rd July 2018
North Korea’s economy contracted at the sharpest rate in two decades in 2017, South Korea’s central bank estimated on Friday, as international sanctions and drought hit growth hard, with signs living conditions were beginning to deteriorate. Gross domestic product (GDP) in North Korea last year shrank 3.5 percent from the… Read More
22nd June 2018
AP — A leading South Korean cryptocurrency exchange said Wednesday that $31 million worth of virtual currencies have been stolen by hackers, a latest in the series of recent hacks that raised security concerns. Bithumb, South Korea’s second-largest exchange, said cyberattacks from late Tuesday night to Wednesday morning led to… Read More
19th June 2018
AP — The Pentagon on Monday formally suspended a major military exercise planned for August with South Korea, a much-anticipated move stemming from President Donald Trump’s nuclear summit with North Korean leader Kim Jong Un. Dana White, spokeswoman for the Defense Department, said planning for the… Read More
13th June 2018
AP — A South Korean cryptocurrency exchange said Monday hackers have stolen about one-third of the coins traded on its market, an announcement that sent bitcoin prices tumbling to a two-month low. Coinrail said hackers stole cryptocurrencies over the weekend including Pundi X, Aston and NPER. It… Read More
28th May 2018
South Korean prosecutors searched Samsung Securities’ (016360.KS) head office as part of their investigation into the brokerage’s recent fat finger error. The brokerage’s accidental issuance of 2.8 billion shares to employees – more than 30 times the number of its outstanding shares and theoretically worth some $100 billion, prompted a… Read More
9th May 2018
South Korean prosecutors have raided LG Group’s head office as part of a probe into alleged tax evasion by family members controlling the conglomerate, the prosecutors’ office said on Wednesday. Prosecutors are looking into possible evasion of capital gains tax worth about 10 billion won ($9.25 million) in relation to… Read More
27th April 2018
North Korean leader Kim Jong Un and South Korean President Moon Jae-in embraced after pledging on Friday to work for the “complete denuclearisation of the Korean peninsula,” punctuating a day of smiles and handshakes at the first inter-Korean summit in more than a decade. The two Koreas announced they would… Read More
12th April 2018
AP — Former South Korean President Park Geun-hye was formally convicted of an array of corruption charges and sentenced to 24 years in prison on Friday, a year after she was driven from office and arrested over a scandal that saw months of massive street rallies calling for her… Read More
Must Read

EU states still divided over money laundering reform – sources

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More

Former UBS trader jailed for Britain’s biggest fraud deported

Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More