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SK chief to sell W944b in SK Inc. shares to fund divorce payout

SK Group Chairman Chey Tae-won plans to sell 944 billion won ($701 million) worth of shares in the holding company SK Inc., an amount matching the property division ordered by a court in his divorce case with former wife Roh Soh-yeong. SK Inc. said in a regulatory filing Friday that Chey, its largest shareholder, wi…

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Police gain powers, face mounting demands under justice overhaul

Police took on broader investigative powers Friday as Korea’s new criminal justice system expanded their responsibility for both initial investigations and follow-up work previously handled by prosecutors. “Public expectations are high, but so are concerns, and our responsibility has become that much greater,” Seoul…

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Seoul shares end higher on bargain hunting amid uncertainties; S. Korean won up

South Korean stocks ended slightly higher Friday as investors scooped up major technology stocks on bargain hunting, offsetting concerns over rising interest rates and oil prices. The Korean won rose against the US dollar. After opening lower, the benchmark Korea Composite Stock Price Index went up 32.39 points, or …

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Federal report says pilots weren’t warned about wind before Amazon cargo plane crashed in Miami

Despite regulations requiring it, an air traffic controller failed to tell the pilots of an Amazon cargo plane about the potential for strong tailwinds as they landed in Miami, careening off the runway and killing five people last month, according to a preliminary report Thursday from the National Transportation Saf…

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‘Eraserheads: Combo on the Run’ wins Best International Director Award at New York’s Limehof Music Documentary Film Festival

“ERASERHEADS: Combo on the Run,” the acclaimed music documentary chronicling the legacy of the Eraserheads, has earned another international distinction, with Director Maria Diane Ventura receiving the Best International Director Award at the Long Island Music & Entertainment Hall of Fame (Limehof) Music Documentary…

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For foreigners in Korea, getting hired is only the start

Twenty-five companies were interviewing job seekers at a Seoul job fair Thursday, but Jin Hong Yu first wanted to know which jobs were within her reach. “I'm here to find out what jobs are available for me as a foreigner,” said Jin, a Chinese national in her late 30s married to a Korean. “It's not easy to find one w…

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N. Korean POW transfer was to remain confidential indefinitely: official

The Seoul-Kyiv agreement to keep the transfer of two North Korean prisoners of war confidential was to be kept indefinitely to protect the soldiers and their families, a senior government official said Friday. The official said the government had never planned to publicly announce the transfer, stressing that confid…

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Musinsa’s W8tr valuation questioned ahead of IPO

Questions are emerging in South Korea’s financial market about whether Musinsa, the nation’s largest online K-fashion platform by sales, is appropriately valued at 8 trillion to 10 trillion won ($5.9 billion to $7.4 billion) ahead of its initial public offering. Analysts say further earnings growth and financial res…

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