Global Economic Times

2026.07.22 (Wed)
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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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South Korean 'Yong Hyung-nim' Crime Ring, Based in Thailand, Busted for Romance Scams and 'No-Show' Fraud: SEOUL—Twenty-five members of the 'Yong Hyung-nim' (meaning 'Dragon Brother's Company') crime ring, a voice phishing organiza ...; Global Economic Times Reporter 2025.09.22

Korean Government to Dramatically Increase Penalties for Personal Data Leaks: SEOUL—The South Korean government is set to significantly raise fines for personal data breaches, tying penalties directly t ...; KO YONG-CHUL Reporter 2025.09.22

S. Korea Aims to Leverage U.S. Visa Fee Hike for Talent Recruitment: SEOUL — The South Korean Presidential Office has issued a directive to government ministries, urging them to capitalize on t ...; Global Economic Times Reporter 2025.09.22

South Korea: Gangneung's Drought Crisis Eases as Reservoir Levels Recover: GANGNEUNG, South Korea—In a major relief for the city of Gangneung, the water level of the crucial Obong Reservoir has recov ...; Hwang Sujin Reporter 2025.09.22

Han Hak Ja Moon, Unification Church Leader, Appears in Court for Detention Hearing in a Wheelchair: SEOUL—Han Hak Ja Moon, the leader of the Unification Church and the focus of the so-called "political-religious collusion sc ...; KO YONG-CHUL Reporter 2025.09.22

President Lee Jae-myung Pushes for 'Smart and Elite Military' Amidst Defense Shifts: President Lee Jae-myung is calling for a major overhaul of the South Korean military, pushing for a move away from traditional, pe ...; Yim Kwangsoo Correspondent 2025.09.21

U.S. H-1B Visa Fee Hike Threatens International Students and Tech Industry: WASHINGTON D.C. — The U.S. government has enacted a dramatic increase in the application fees for the H-1B specialty occupat ...; Global Economic Times Reporter 2025.09.21

The U.S. is raising its ESTA fee to almost double, from ₩30,000 to ₩60,000.: The U.S. Visa Waiver Program (ESTA) fee will almost double starting at the end of this month. According to the U.S. Customs and B ...; KO YONG-CHUL Reporter 2025.09.21

Special Counsel Probes Alleged Mass Membership of Unification Church Members in People Power Party Ahead of National Convention: SEOUL – The special counsel team led by Prosecutor Min Joong-ki has confirmed a mass sign-up of Unification Church members i ...; KO YONG-CHUL Reporter 2025.09.21

Seoul's "River Bus" Project Sinks Amidst Public Apathy: SEOUL, SOUTH KOREA — A high-profile urban transport project meant to revolutionize commuting in Seoul is facing an uncertain ...; KO YONG-CHUL Reporter 2025.09.19

Jeju Stone Wall Building Designated as Intangible Cultural Heritage... A Challenge for UNESCO Intangible Cultural Heritage of Humanity, Too: Jeju Province announces that "Jeju Stone Wall Building," a traditional construction method using stones, will be designated as a J ...; Global Economic Times Reporter 2025.09.19

Chairperson Lee Jin-sook of the Korea Communications Commission Sent to Prosecution on Embezzlement Allegations: Chairperson Lee Jin-sook of the Korea Communications Commission (KCC) has been sent to the prosecution on charges of embezzlement. ...; KO YONG-CHUL Reporter 2025.09.19

S. Korean PM Orders "Strong Action" on Anti-China Protests: SEOUL — South Korean Prime Minister Kim Min-seok has issued an urgent and firm directive to the nation’s police force, ...; Hwang Sujin Reporter 2025.09.19

North Korea Unveils New "Geumseong" Suicide Drones, Signaling Strategic Military Advancements: PYONGYANG - In a significant move to project military strength, North Korea has officially revealed the final, operational version ...; Desk 2025.09.19

South Korea Launches New ₩400 Billion Aid Package to Bolster Steel Exports Amidst U.S. Tariffs: POHANG, South Korea — In a proactive move to mitigate the severe impact of escalating U.S. tariffs on its crucial steel sect ...; KO YONG-CHUL Reporter 2025.09.19

Special Prosecutor Links 120,000 Party Members to Unification Church List: A special prosecutor's team investigating allegations against First Lady Kim Keon-hee has reportedly secured a list of People Powe ...; KO YONG-CHUL Reporter 2025.09.19

Beware of Illegal "Miracle" Weight-Loss Drugs: Brussels, Belgium — The European Medicines Agency (EMA) has issued a strong warning about the alarming increase in the sale ...; Shin Yeju 2025.09.19

Unresolved Questions Linger in KT Payment Fraud Case: The arrest of two Chinese nationals in connection with the recent KT mobile payment fraud has provided some answers, but significa ...; KO YONG-CHUL Reporter 2025.09.19

U.S. States Scramble to Retain Korean Investment Amid Visa Crackdown: In a concerted effort to prevent a flight of capital, several U.S. states are actively courting Korean companies following a conte ...; Hwang Sujin Reporter 2025.09.19

Lotte Card Apologizes for Major Data Breach, Pledges Full Compensation: Lotte Card CEO Cho Jwa-jin issued a public apology Thursday after a cyberattack exposed the personal information of nearly 3 milli ...; Hwang Sujin Reporter 2025.09.19