Global Economic Times

2026.07.23 (Thu)
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FSC Slams Young Poong with Record $14.7 Million Fine Over Deliberate Accounting Fraud

SEOUL — South Korea’s financial regulator has handed down a record-breaking 20.47 billion won (approximately $14.7 million USD) fine to Young Poong Corp., a major non-ferrous metal slacker
Korean Independence Flag Raised at NYC's Waldorf Astoria Restored to Original Glory

SEOUL — A historic South Korean national flag (Taegeukgi), which bore witness to the fierce diplomatic struggle for independence on the global stage, has successfully been restored to its origin

FRAUD AT THE GATES: PROSECUTORS TAKE ON ILLEGAL APARTMENT SUBSCRIPTIONS IN DONGTAN 2 NEW TOWN

SEOUL — Four individuals who illicitly secured highly coveted apartment subscriptions in Gyeonggi Province's Dongtan 2 New Town through fraudulent residency registrations and administrative

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Lotte Non-Life Insurance's 'wonder' Wins Winner Award at 2024 A.N.D. Award: Lotte Non-Life Insurance (000400) announced on the 5th that its sales support platform 'wonder' won the Winner Award in the Securi ...; Hwang Sujin Reporter 2025.03.05

Kyobo Life Insurance Wins 2024 AND Award for Web Drama 'Neighbors in a Narrow Space': Kyobo Life Insurance has been awarded the Winner Award in the large enterprise category of the Digital Advertising and Campaign di ...; Hwang Sujin Reporter 2025.03.05

BNK Busan Bank Revamps Lotte Giants-Linked Deposit Products After 18 Years: BNK Busan Bank announced on the 5th that it will revamp its regular deposit and savings products that offer preferential interest ...; Yim Kwangsoo Correspondent 2025.03.05

Financial Authorities Launch Joint Task Force to Combat New Money Laundering Techniques, Conduct Full Investigation of Saemaul Geumgo: Financial authorities are establishing a joint task force (TF) with the financial sector to proactively address emerging money lau ...; Hwang Sujin Reporter 2025.03.05

Insurance Fraud Involving Agents on the Rise; Financial Authorities Vow Strong Response: Financial authorities are taking strong measures as the amount of insurance fraud involving insurance agents increased by nearly 2 ...; Hwang Sujin Reporter 2025.03.05

Financial Supervisory Service Urges Second-Tier Financial Institutions to Swiftly Resolve Non-Performing Assets and Ensure Stable Funding for Vulnerable Groups: The Financial Supervisory Service (FSS) has called on second-tier financial institutions to expedite the resolution of non-perform ...; Desk 2025.03.05

KRW/USD Exchange Rate Surpasses 1,460 Amidst Trump's Tariff Remarks, Limited by Risk-On Sentiment: The KRW/USD exchange rate surpassed 1,460 during trading on the 5th due to U.S. President Donald Trump's tariff remarks, but the u ...; KO YONG-CHUL Reporter 2025.03.05

GS E&C’s ‘BEYOND A.’ Magazine Wins Double at iF Design Award 2025: GS E&C’s Xi brand magazine, ‘BEYOND A.,’ has been honored with two Winner awards at the prestigious iF Desig ...; Desk 2025.03.05

Seoul Pioneers 'Three-Dimensional Parks' to Combat Urban Green Space Scarcity: SEOUL, South Korea – In a groundbreaking initiative to address the growing scarcity of urban green spaces, the Seoul Metropo ...; KO YONG-CHUL Reporter 2025.03.05

'Food Addiction' in Children and Adolescents Threatens Mental Health Beyond Obesity: A study has revealed that children and adolescents addicted to 'food addiction,' who compulsively consume specific foods regardles ...; Eugenio Rodolfo Sanabria Reporter 2025.03.04

Global Obesity Crisis: 60% of Adults, 30% of Children Projected to be Overweight or Obese by 2050: A groundbreaking study led by Dr. Jessica Kerr of the Murdoch Children's Research Institute in Australia has revealed that by 2050 ...; Graciela Maria Reporter 2025.03.04

MSD Files for FDA Approval of Subcutaneous Keytruda, in Landmark Partnership with Alteogen: Pharmaceutical giant MSD has taken a significant step in advancing patient care by submitting a Biologics License Application (BLA ...; Ana Fernanda Reporter 2025.03.04

Korea Contribution Awards Organizing Committee Opens Call for Nominations for the 7th Korea Contribution Awards: The Korea Contribution Awards Organizing Committee (Co-Chairmen: Moon Joo-hyun, Chairman of MDM Group, and Lee Chi-soo, Chairman o ...; Global Economic Times Reporter 2025.03.04

Hanwha Life Opens AI Contact Center (AICC) to Enhance Customer Service: Hanwha Life has launched its Artificial Intelligence Contact Center (AICC), an AI-powered call center, to innovate customer servic ...; Hwang Sujin Reporter 2025.03.04

Homeplus Seeks Corporate Rehabilitation Amid Financial Strain: Seoul, South Korea – Homeplus, a prominent South Korean supermarket chain, has filed for corporate rehabilitation with the S ...; KO YONG-CHUL Reporter 2025.03.04

Incheon City Launches Priority Passport Service for Pregnant Women: INCHEON, South Korea – In a significant step towards fostering a supportive environment for expectant mothers, Incheon City ...; Min Gyu Mi Reporter 2025.03.03

Daegu to Host 23rd International Textile Fair Showcasing High-Tech and Sustainable Innovations: Daegu Metropolitan City has announced the opening of the 23rd Daegu International Textile Fair (Preview In Daegu) at EXCO from Mar ...; KO YONG-CHUL Reporter 2025.03.03

K-Pass Surpasses 3 Million Users in 10 Months, Offering Significant Public Transportation Savings: The K-Pass, a public transportation card that refunds a certain percentage of usage fees, has surpassed 3 million users within 10 ...; KO YONG-CHUL Reporter 2025.03.03

The Ministry of Environment has published a government-approved elementary textbook on environmental health, titled "Environment and Health.": On March 3rd, the Ministry of Environment announced that it has published an environmental health textbook for 3rd and 4th-grade e ...; KO YONG-CHUL Reporter 2025.03.03

It has been found that the amount spent on food and dining expenses by low-income households last year increased by nearly 40% compared to five years ago.: According to the Household Income and Expenditure Survey by Statistics Korea on the 2nd, the average monthly food expenditure for ...; Hwang Sujin Reporter 2025.03.03