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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Strengthening Copyright Infringement Cooperation with 5 Overseas Countries… Joint Response to ‘Illegal Distribution of K-Content’: (c) Ministry of Culture, Sports and Tourism The Ministry of Culture, Sports and Tourism (MCST), together with the Korea Copyright ...; KO YONG-CHUL Reporter 2026.06.09

MyRealTrip CTO Selected as Key Speaker for Anthropic’s Global Developer Conference in Tokyo: SEOUL, June 8 — MyRealTrip, South Korea’s leading travel "super-app," announced today that its Chief Technology Office ...; Desk 2026.06.08

SKT and Nvidia Join Forces to Build Gigawatt-Scale 'AI Factories' Across Asia, Starting in Korea by 2027: SEOUL — SK Telecom (SKT) and Nvidia have announced a landmark partnership to co-build gigawatt (GW)-scale Artificial Intelli ...; KO YONG-CHUL Reporter 2026.06.08

Opening a 'New Horizon' for Korea-Pakistan Economic Cooperation… Exchange Event Successfully Held in Changwon: On June 1, a meaningful exchange event was successfully held in Changwon, Gyeongsangnam-do, consolidating the business partnership ...; LEE YEON SIL Reporter 2026.06.05

Nexon Revamps Signature Youth Coding Competition into AI-Driven 'Nexon Young Programmers Cup': SEOUL, South Korea — Nexon, a global pioneer in the gaming industry, officially announced on June 4 that it has opened appli ...; Kim Sungmoon Reporter 2026.06.05

President Lee Assures 'Zero Tolerance' for Corruption, Outlining Vision for South Korea as an 'Irreplaceable Global Leader': SEOUL — President Lee Jae-myung declared on Wednesday a stern, uncompromising stance against corruption and illegal financia ...; Desk 2026.06.03

Premature 'Victory Celebration' on City Hall Display Sparks Outrage and Allegations of Election Interference in Taebaek: TAEBAEK, South Korea — A major political scandal has erupted in the city of Taebaek, Gangwon State, after an electronic bill ...; Hwang Sujin Reporter 2026.06.03

South Korea’s 9th Local Elections See Surge in Voter Turnout, Eyeing Historic Highs: SEOUL — Voter turnout for South Korea’s 9th nationwide simultaneous local elections and parliamentary by-elections has ...; KO YONG-CHUL Reporter 2026.06.03

Middle East with 'Oil Money' Emerges as the New Battleground for K-Beauty: The South Korean cosmetics industry is entering a new era of leap forward, establishing an unprecedented milestone in the global m ...; HONG MOON HWA Senior Reporter 2026.06.01

From a moment of collective sacrifice to a moment of collective democracy: The Timing of the Election in Ethiopia and Korea: Dessie Dalkie Dukamo, Ethiopian Ambassador to Korea Ethiopia and South Korea will hold elections on successive days this week. ...; HONG MOON HWA Senior Reporter 2026.05.29

USFK Commander Labels South Korea a 'Dagger' to China, Highlighting Strategic Military Value: SEOUL — Gen. Xavier Brunson, the commander of U.S. Forces Korea (USFK), has characterized South Korea as a "dagger" aimed at ...; Global Economic Times Reporter 2026.05.27

Unlicensed Drunk Driver Sentenced to 18 Months in Prison After Stealing Younger Brother’s ID: A man in his 30s who used his brother’s resident registration number to evade punishment after a habitual drunk driving acci ...; Global Economic Times Reporter 2026.05.24

The Onslaught of 'AI Disinformation' Scarier Than Hacking… Human Response Pushed to Its Limits: With the exponential advancement of artificial intelligence (AI) technology, highly sophisticated deepfakes and fabricated informa ...; KO YONG-CHUL Reporter 2026.05.24

Secrets of the 13m Underground Revealed: Seoul Plaza’s 335-Meter Hidden Tunnel Reborn as a 'K-Content Platform' After 40 Years: A massive underground space that has remained hidden 13 meters beneath the heart of Seoul Plaza for 40 years will finally unveil i ...; Hwang Sujin Reporter 2026.05.24

From 'DAL-e' to 'Spot': Hyundai Motor Group Transforms Yangjae Headquarters into an Advanced AI Robotics Testbed: SEOUL – Hyundai Motor Group (the Group) announced today the grand reopening of its Yangjae headquarters lobby, establishing ...; Global Economic Times Reporter 2026.05.21

In the AI Era, CEOs Must Transfigure into ‘Total Experience Owners’ (CXOs), Asserts Douzone Bizon Co-CEO Ji Yong-goo: SEOUL, South Korea — In the rapidly accelerating era of Artificial Intelligence Transition (AX), the traditional paradigms o ...; Desk 2026.05.21

Starbucks Korea’s ‘Tank Day’ Blunder Triggers Broad Shinsegae Stock Sell-Off: SEOUL — A severe public backlash over an insensitive marketing campaign by Starbucks Korea has spilled over into the broader ...; Desk 2026.05.21

Shinsegae Chairman Chung Yong-jin Faced with Legal Complaints Over Starbucks ‘Tank Day’ Controversy: SEOUL — Shinsegae Group Chairman Chung Yong-jin and former Starbucks Korea CEO Son Jung-hyun are facing formal criminal comp ...; KO YONG-CHUL Reporter 2026.05.21

HMM Tanker Begins Safe Passage Through Strait of Hormuz; Foreign Minister Cho Says Negotiations Underway for Remaining 25 Vessels: SEOUL — A South Korean ultra-large crude carrier trapped in the Strait of Hormuz has successfully initiated its passage thro ...; Hwang Sujin Reporter 2026.05.21

FTC Slams Korea's Top 5 Courier Giants with 3 Billion Won Fine Over 'Unfair Contracts': SEOUL — South Korea’s antitrust watchdog has hit the nation’s five major logistics companies with a combined fin ...; Hwang Sujin Reporter 2026.05.19

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