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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…
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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…
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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…
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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…
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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…
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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…
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Death toll confirmed 64
The death toll from a sunken ferry off South Korea’s south coast rose to 64 early Monday as search operations were set to resume for a sixth day following the disaster. Hopes of finding any survivors were fading rapidly as none of the 302 missing passengers have been found alive…
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Korean government loses trust
Families attempt protest march to Cheong Wa Dae JINDO — Over 100 people tried to make their way to Seoul to see President Park Geun-hye Sunday morning. Most of them were family members of those still missing from the ferry Sewol that sank Wednesday morning. They were angry that the…
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tobechecked
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Drama sets becoming ‘ghost towns’
The sensational drama series “My Love From the Star” is elevating “hallyu” or the Korean wave to new levels. It has created a positive overflow, particularly in the tourism sector as the locations where the drama was shot have become tourist hot spots. But how long will they continue to…
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