Global Economic Times

2026.07.21 (Tue)
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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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The 'Arrest Look': Nike Tracksuit Sells Out After Maduro’s Capture: (C) NewsBytes WASHINGTON D.C. / SEOUL — In a surreal intersection of geopolitical drama and global consumerism, the Nike tr ...; Eugenio Rodolfo Sanabria Reporter 2026.01.06

Seoul Council Member Flees to U.S. Amid ‘100 Million Won’ Nomination Bribery Scandal: (C) KBS SEOUL — Kim Kyung, a member of the Seoul Metropolitan Council, has reportedly departed for the United States just a ...; KO YONG-CHUL Reporter 2026.01.06

Ministry of Foreign Affairs Opens Doors for Young Korean Talents to Enter International Organizations: (C) Ministry of Foreign Affairs On January 5, the Ministry of Foreign Affairs (MOFA) held a hybrid-format orientation for the f ...; Global Economic Times Reporter 2026.01.06

Jumunjin Sunrise Festival Leaps Forward After 26 Years… Successfully Concludes with 6,000 Attendees: On the morning of the 2026 Year of the Red Horse (Byeong-o-nyeon), Jumunjin Beach in Gangneung—a flagship beach on the East ...; LEE YEON SIL Reporter 2026.01.05

Sino-South Korean Relations Thaw as Favorability Climbs Ahead of Presidential Visit: (C) Compass Edge BEIJING – As President Lee Jae-myung prepares for a state visit to China on January 4, a recent survey ind ...; Desk 2026.01.04

South Korea Ranks 4th Globally in Nation Brand and 17th in National Competitiveness: National Strength Proven by Rankings: The Institute for Industrial Policy Studies - National Competitiveness (IPSNC) announced that South Korea has once again demonstra ...; KO YONG-CHUL Reporter 2026.01.03

Will Highway Rest Area Food Prices Drop in the New Year?: (C) Fishing Camping Tour SEOUL — As the South Korean government moves to regain control over highway rest area operations t ...; Min Gyu Mi Reporter 2026.01.02

S. Korea to Offer Up to KRW 6.8 Million in EV Subsidies, Adding Incentives for Internal Combustion Engine Trade-ins: (C) IEEFA SEOUL — The Ministry of Climate, Energy and Environment announced on January 1 the "2026 Electric Vehicle Subsidy ...; Shin Yeju 2026.01.02

Free-Floating Planet Discovery: A Saturn-Mass Rogue World Found 10,000 Light-Years Away: (C) Phys.org DAEJEON – An international team of astronomers has discovered a "rogue planet"—a world drifting through ...; Graciela Maria Reporter 2026.01.02

Coupang Executive Testifies NIS Directed Overseas Confrontation to Recover Leaked Data: SEOUL – A senior executive from Coupang, South Korea’s e-commerce giant, testified before the National Assembly on Thu ...; KO YONG-CHUL Reporter 2026.01.02

Pope Leo XIV Congratulates Daejeon’s Sungsimdang Bakery on 70th Anniversary: (C) CAFOD DAEJEON — Pope Leo XIV has extended his heartfelt congratulations to Sungsimdang, a historic bakery based in Daej ...; HONG MOON HWA Senior Reporter 2026.01.02

Musinsa Issues ₩50,000 Coupon Pack to All Users, Eyes Rival Coupang’s Recent Missteps: (C) Musinsa SEOUL — Fashion e-commerce giant Musinsa has announced a large-scale promotional event, providing a ₩50,000 cou ...; Hwang Sujin Reporter 2026.01.02

ROK Defense Ministry Unveils "Semi-Fourth Branch" Plan: Marine Corps Commandant to be Promoted to Four-Star General: (C) Arirang TV SEOUL – In a landmark move to bolster the independence and operational capability of the Republic of Korea M ...; KO YONG-CHUL Reporter 2026.01.01

Luxury Polarization: Chanel Surpasses Louis Vuitton as "Heritage" Trumps Trends: (C) Apparel Resources SEOUL — In a shifting global economy, the divide within the luxury market is becoming more pronounced ...; Hwang Sujin Reporter 2026.01.01

Jeju Authorities Crack Down on Illegal Accommodations Disguised as Short-Term Rentals: (C) Medium JEJU ISLAND – The Jeju Provincial Autonomous Police announced on Tuesday that they have uncovered a significant ...; KO YONG-CHUL Reporter 2026.01.01

“Stories of Overseas Koreans Tailored to Student Perspectives... On-site Education for Over 6,000 Students Nationwide”: (C) Overseas Koreans Agency (OKA) The Overseas Koreans Agency (Commissioner Kim Kyoung-hyup) announced that throughout 2025, ...; KO YONG-CHUL Reporter 2025.12.30

U.S. Residential Electricity Rates Set to Surge Further in 2026, Emerging as Key Midterm Election Variable: (C) MPR News WASHINGTON — Rising electricity costs are becoming a central socioeconomic issue in the United States, as resi ...; Eunsil Ju Reporter 2025.12.30

Coupang Faces Probe Over Unpaid Severance Pay; 99 Labor Law Violations Recorded This Year Alone: SEOUL – Coupang, South Korea’s e-commerce giant currently under special prosecutor investigation for allegedly withhol ...; KO YONG-CHUL Reporter 2025.12.29

Samsung Biologics Employee Indicted for Smuggling 2,800 Secret Blueprints Hidden Under Clothes: (C) KBR Incheon, South Korea — A Samsung Biologics employee has been handed over to trial for leaking trade secrets, includ ...; Yim Kwangsoo Correspondent 2025.12.29

Silicon Valley Korean American Federation Successfully Hosts '2025 Korean American Awards': The Silicon Valley Korean American Federation (President Dong-ok Woo, Board Chair Hang-ja Yoon) successfully concluded the "Silico ...; KO YONG-CHUL Reporter 2025.12.29