Samsung's vice-chairman and de facto chief Lee Jae-yong has been sentenced two-and-half-year jail after being convicted of a corruption scandal. The sentencing was a retrial-conclusion of corruption scandal regarding Lee and former South Korean President Park Geun-hye. Lee "actively provided bribes" in millions of dollars to Park in return of government favours, pronounced Seoul's Central District High Court. Meanwhile, experts believe Lee's… read-more
Courtesy: Money Control
South Korea, having world’s lowest birth rate, has recorded more deaths than births in the year 2020. Against the 2,75,800 births, the country recorded 3,07,764 deaths last year. Sensing the alarming figures, the government has launched several polices, including cash incentives, to tackle low birth rates. It has announced 2 million won cash bonus to every newborn till they turn one. Moreover, it plans to increase the incentive to 500,000 won… read-more
Going by reports, the pandemic-stricken South Korean smartphone maker Samsung has sold the lowest number of handsets in 2020 during the last decade. The statistics show that the company's third-quarter end shipment stood at 189.4 million units and annual shipment might conclude around 270 million. However, the company is hopeful to increase sales as it prepares to launch 5G mobile phones in 2021 along with various other 'affordable' products… read-more
Courtesy: Hindustan Times
As US sanctions on Iran remain, Irani officials have stated the vaccine-procurement process is hampered since they are unable to utilize the payment system. Reportedly, Iran had planned to deploy funds worth billions in won-denomination of South-Korean banks but was taken aback as the transaction has to be cleared by the US. Though the US had issued 'Office on Foreign Assets Control' license, Iran said it had 'little effect'.
Courtesy: Hindustan Times
K-Pop band BTS have been temporarily exempted from the South Korea's mandatory military service until they attain age of 30 years. It was done through a legislation passed in the parliament on December 1. The Military Service Act has been amended for the band members, besides classical musicians and athletes, as they contribute to the economy and improve the country's cultural-status. However, the 7-member band have confirmed to serve… read-more
Courtesy: The Indian Express
For running a South Korean online sex abuse group, Cho Ju-bin has been sentenced to 40-years of prison on November 26. The 25-year-old college graduate was the mastermind of a group, which harassed girls for sexual contents. The group posted sexual content on pay-to-view secretive chatrooms. Reportedly, out of 74 people exploited, 16 girls were underaged. The matter became a national controversy after five million people signed petitions for… read-more
Courtesy: BBC News
The Korean band BTS’ single video ‘Dynamite’ has made a new record by crossing 600 million views. The music video broke the record of 'Blackpink' to become the fastest Korean music video to reach the feat. Also, the track was in the charts of "Billboard 100" for seven straight weeks. 'Dynamite' also became BTS' ninth video to cross the 600-million mark. Meanwhile, BTS announced their ninth album ‘BE’ to be released on November 20.
Courtesy: Times Of India
The popular South Korean girl band Blackpink stirred outrage in China after the band members were shown holding baby panda ‘Fu-Bao’ as part of their first reality show "24/365 with Blackpink".The cub is the first panda to be born in South Korea. The footage sparked controversy after some Chinese media and online platforms criticised the artists for touching the cub without wearing sanitary gloves which can be threatening to its health.
Courtesy: Guardian News
Against the charges of bribery during the office-term, former South Korean President Lee Myung-Bak has been given a 17-year imprisonment. Ending Lee's bail, the country's Supreme Court upheld that 78-year-old Lee had taken a bribe of around $8.2 million. He was the President of South Korea from 2008 to 2013. Interestingly, the country's all four living former Presidents are either in jail or have been in Jail due to political rivalries.
Courtesy: The Times of India
South Korean President Moon Jae-in stated that the country targets zero carbon emissions by the year 2050. He further allocated $7 billion for 'green-focused growth' in the country from COVID-19 relief package. He further mentioned that the country will actively combat climate change by replacing non-renewable energy with renewable energy sources. Earlier, China and Japan made their target of achieving carbon neutrality by 2060.
Courtesy: Financial Times