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One-time presidential hopeful jailed in South Korean #MeToo scandal

Saturday, February 2, 2019, 7:35 AM

A former South Korean provincial governor who once ran for presidential nomination was jailed for three and a half-years for molesting an aide after his earlier acquittal was overturned in one of country's most high-profile #MeToo cases. An Hee-jung had been a rising star in South Korea's ruling party before he quit in March 2018, hours after aide accused him of repeated sexual assault.
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South Korea To Combine World's 2 Biggest Shipbuilders In $2 Billion Deal

Thursday, January 31, 2019, 7:57 PM

Heavy Industries, world's biggest shipbuilding group, has announced a share swap-deal worth 2.1 trillion won to take over second-ranked Daewoo and create a global heavyweight controlling over 20% of market. The move comes as worldwide shipbuilding sector recovers from a-global economic downturn that led to massive-losses, widespread job-cuts and, in 2017, $2.6 billion bailout of South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd.
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Samsung Electronics flags profit drop on weak chip demand

Tuesday, January 8, 2019, 7:15 AM

South Korea's Samsung Electronics Co Ltd on Tuesday estimated a 29 percent drop in quarterly operating profit, its first decline in two years, as it flagged tough memory chip and mobile phone markets in a rare commentary. Samsung, in a regulatory filing, estimated profit at 10.8 trillion won ($9.67 billion) for October-December last year, down 29 percent from the same period a year earlier.

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