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Yonhap News Summary

Yonhap News Summary 17:03 March 29, 2021

The following is the second summary of major stories moved by Yonhap News Agency on Monday.

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(LEAD) Moon urges law to prevent 'conflict of interest' among public officials in response to LH scandal

SEOUL -- President Moon Jae-in stressed the need Monday to introduce legislation on preventing civil servants from seeking private advantage via their positions, citing public fury over alleged speculative land purchases by employees at the state-owned housing enterprise.

"On this occasion, we will have to enact a law on preventing the conflict of interest among public officials at any cost," he said during an Anti-Corruption Policy Consultation Council meeting held at Cheong Wa Dae.

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Public servants' property deals to be closely scrutinized as new oversight body aims to crack down on illegal deals

SEOUL -- South Korea said Monday all public officials will be required by law to report their property holdings, with stern measures applied to those who earned profits from speculative deals, as it unveiled measures to stem property speculation by public officials.

The move came amid heightened public outcry over a land speculation scandal involving officials from the Korea Land and Housing Corp. (LH), the public housing developer.

Finance Minister Hong Nam-ki vowed a zero tolerance approach toward real estate speculation by public officials in a bid to regain public trust.

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(LEAD) Police investigate interior minister's ex-aide over property speculation allegations

SUWON -- Police have begun investigating a former aide to Interior Minister Jeon Hae-cheol over allegations that he and his family were involved in a speculative land purchase.

A probe team of Gyeonggi Nambu Police Agency has been conducting raids into five places since this morning, including the Ministry of Land, Infrastructure and Transport and the headquarters of the Korea Land and Housing Corp. (LH) in Jinju, South Gyeongsang Province, in connection with the allegations.

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(LEAD) Korean shippers, shipbuilders sailing well amid Suez blockage

SEOUL -- Shares in South Korea's shipbuilders and shippers have enjoyed decent increases in the past weeks, but this time, they are again on a rising track on expectations for a further climb in freight rates and demand for ships amid the unprecedented blockage at the Suez Canal.

HMM Co., South Korea's largest shipper, saw its shares jump 15.96 percent to close at a record high of 34,150 won Friday, though it closed 9.37 percent lower on Monday in the face of profit-taking.

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Cancellation of 'Joseon Exorcist' affects upcoming period TV series

SEOUL -- The South Korean drama production industry has snapped to attention as intensifying controversy over distorting Korean history led to the recent termination of the period series "Joseon Exorcist."

Set in the early 15th century during the reign of King Taejong, the third on the throne of the 1392-1910 Joseon Dynasty, the 16-episode supernatural exorcist period fantasy follows the royal family's fight against evil spirits.

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Ex-Prosecutor General Yoon leads in new poll of prospective presidential candidates

SEOUL -- Former Prosecutor General Yoon Seok-youl is leading presidential hopefuls from rival parties by a large margin in the latest popularity poll on potential candidates to succeed President Moon Jae-in next year, a pollster said Monday.

Public support for Yoon as South Korea's next leader surged to a record high of 34.4 percent in a Realmeter survey conducted on 2,547 adults nationwide from last Monday to Friday, according to the Seoul-based pollster.

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S. Korea gives final nod to SK hynix's 120 tln-won project

SEOUL -- South Korea said Monday it has granted the final approval to SK hynix Inc.'s 120 trillion-won (US$106 billion) project to build a new semiconductor complex, a move that could ease supply shortages in the global market.

South Korea's No. 2 chipmaker has completed all necessary administrative procedures to go ahead with the project to build the complex in Yongin, about 50 kilometers south of Seoul, according to the Ministry of Trade, Industry and Energy.
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