Search efforts pick up
Search-and-rescue teams secured more guide ropes onto the sunken ferry Sewol, Monday, gaining further access to the stricken vessel. State-of-the-art remotely-operated vehicles (ROVs) were brought in to look for more bodies. On the sixth day since the tragedy, the death toll stood at 87 as of 11 p.m. out of a total of 476 passengers […]
Park likens Sewol skipper to murderer
President Park Geun-hye vowed Monday to punish all those to blame for the ferry disaster in which the death toll may eventually climb past 300. The Sewol, carrying 476 passengers, sank in waters off the southwestern coast, Wednesday. More than 200 people are still unaccounted for with the death toll rising. “All procedures should be […]
Foreigners embrace meaning of Dokdo
DOKDO —The field trip to Korea’s easternmost islets, Dokdo, can be challenging, to say the least. A trip starting in Seoul means traveling down to the port city of Donghae, Gangwon Province, taking a ferry to Ulleung Island in North Gyeongsang Province and then another two and half hours on a boat to Dokdo, also […]
Korea wants to get MSCI’s developed market statues
Morgan Stanley Capital International (MSCI), the world’s leading provider of investment decision support tools, may include Korea on its list of developed markets this year, experts said Friday. They warned, however, that the country could face difficulties drawing funds from investors while competing with the U.S., Western Europe, Japan and other regions with developed economies. […]
Large firms hesitate to invest
Lotte shows highest cash reserve ratio The average cash reserve ratio of conglomerates soared to a record high last year, data showed Sunday, triggering concerns that their sluggish reinvestment may hinder job creation and economic recovery. According to FN Guide, an online financial information provider, the average reserve ratio of 70 listed affiliates of Korea’s […]
Hardly learning lessons from tragedy
As the nation comes to terms with the sinking of the Sewol ferry, hope is turning to anger, frustration and despair. The nation’s biggest maritime disaster in decades is a rude, costly wake-up call for the people that illustrates how Korea’s pursuit of getting things done can lead to critical tasks being neglected or ignored. […]
Divers fight time, adverse conditions
JINDO — Efforts to find passengers still trapped in the sunken ferry Sewol continued for a fifth day Sunday to no avail. The Coast Guard said 563 divers, 190 ships and 30 aircraft were taking part in search and rescue operations. It said five guide ropes had been attached to the submerged ferry to help […]
Sewol’s emergency communications made public
Thirty one minutes of communications between the ferry Sewol and the Vessel Traffic Service (VTS) office on Jindo Island reveals the last moments of the ships voyage. According to the recording revealed by the Korea Coast Guard, Sunday, communications began at 9:06 a.m. with last message at 9:37 a.m. The office calls the ferry. “Sewol! […]
Why novice sailor turned sharply
The ferry Sewol was sailing through the Maenggol Straits, one of the most treacherous stretches of water in Korea due to the fast-moving tidal currents, before it capsized Wednesday. At the helm was a novice 25-year-old third mate surnamed Park, who had never navigated the notoriously difficult route off the country’s southwestern coast, with experienced […]
Bodies pulled out of Sewol
Disaster area declared The death toll rose sharply over the weekend as divers started recovering bodies from the submerged ferry Sewol. No survivors were found despite desperate search-and-rescue operations. Out of the total 476 passengers and crewmembers, 174 were rescued and 58 have been confirmed dead, while 244 still remained unaccounted for as of 11 […]
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