South Korean prosecutors have requested an arrest warrant for Lotte Group chairman Shin Dong-bin, the retail-to-chemicals group said on Monday, the latest twist in a broad criminal probe into the country's fifth-largest conglomerate.
An estimated 15,000 South Korean union workers turned up at Sangam World Cup Stadium in Seoul on Friday (Sep 23) to stage a one-day strike against the government's plans to expand a performance-based wage system in the nation's financial industry.
Tens of thousands of South Korean bank workers are furious over plans by the government to introduce new wage system based on performance, and are planning to hold a one-day strike on Friday (Sep 23).
UN diplomats say the two countries have started discussions on a possible UN sanctions resolution in response to the nuclear test earlier this month, but Beijing has not said directly whether it will support tougher steps against North Korea.
North Korea has completed preparations for another nuclear test in a previously unused tunnel at its Punggye-ri site, South Korea's Yonhap news agency reported Monday.
Prosecutors in South Korea have questioned Lotte's founding family over their alleged roles in the group's corruption scandal and alleged tax evasion. Channel NewsAsia's Lim Yun Suk pieces together the sequence of events that has brought one of South Korea's biggest conglomerates to its knees.
North Korea announced on Friday it had conducted its fifth nuclear test, hours after seismic monitors detected a blast near the secretive country's nuclear test site.
South Korea's Hanjin Group said on Tuesday it would provide its debt-ridden shipping unit with 100 billion won (US$90.4 million) to help ease huge disruptions to global maritime freight.
Kim Jong-Un labelled North Korea's latest missile tests "perfect", state media said Tuesday, as he called for the isolated state to build up its nuclear arsenal.
Shares in South Korea's foundering shipping giant Hanjin were volatile on Monday after filing for bankruptcy protection in Seoul and reportedly the US, sinking the maritime freight industry deeper into crisis.