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5th February 2018

Samsung heir freed after appeal wins suspended jail term

AP – Samsung heir Lee Jae-yong was freed Monday after a South Korean appeals court gave him a 2 ½-year suspended jail sentence for corruption in connection with a scandal that toppled the country’s president. The Seoul High Court softened the original ruling against Lee, rejecting most of the… Read More

4th February 2018

Sanctions: No Samsung phones, Nike perks for N.Koreans at Olympics?

All of the almost 3,000 athletes competing at the upcoming Pyeongchang Winter Olympics are set to get perks including the latest $1,100 Samsung smartphones, top of the range new equipment to take home and sleek Nike uniforms. All except perhaps the 22 athletes from North Korea. Tough international sanctions including… Read More

31st January 2018

S.Korea: No plans to ban cryptocurrency exchanges, uncovers $600m illegal trades

South Korea’s finance minister said the government has no plans to shut down cryptocurrency trading, welcome news for investors worried that authorities might go as far as China’s tough action in blocking virtual coin platforms. The comment by Kim Dong-yeon on Wednesday comes as traders at home and around the… Read More

26th January 2018

Despite sanctions, North Korea exported coal to South and Japan via Russia – intelligence sources

North Korea exported coal to Russia last year which was then delivered to South Korea and Japan in a likely violation of UN sanctions, three Western European intelligence sources said. The UN Security Council banned North Korean exports of coal last August under sanctions intended to cut off… Read More

23rd January 2018

South Korea to ban cryptocurrency traders from using anonymous bank accounts

South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, regulators said on Tuesday in a widely telegraphed move designed to stop virtual coins from being used for money laundering and other crimes. The measure comes on top of stepped up efforts… Read More

16th January 2018

EU to remove Panama, 7 others from tax blacklist

European Union officials have proposed removing eight jurisdictions from the blacklist of tax havens the bloc adopted in December, in what critics may see as a blow to its campaign against tax avoidance. EU states decided last month to draw up the list in a bid to discourage the most… Read More

11th January 2018

South Korea considers Bitcoin trading ban

South Korea is considering a law to ban cryptocurrencies such as Bitcoin being traded on local exchanges. Justice Minister Park Sang-ki said virtual currencies were “great concerns” and that the ministry was preparing a bill to ban trading. However, South Korea’s presidential office said later that a ban had not… Read More

9th January 2018

South Korea to consider temporary lifting of N.Korea sanctions

South Korea said on Tuesday it will consider a temporary lifting of sanctions against North Korea if it is necessary to facilitate the visit of North Koreans to the Winter Olympics in South Korea next month. South Korea has unilaterally banned several North Korean officials from entering the country in… Read More

8th January 2018

South Korea: Banks face probe on bitcoin fraud

Korean financial authorities plan to launch a special investigation into local banks that provided accounts to cryptocurrency exchanges as part of government efforts to prevent cryptocurrencies from being used in illegal financial activities and curb speculative investment. The Financial Intelligence Unit, a body under the Financial Services Commission that monitors… Read More

29th December 2017

South Korea: Ship seized for allegedly transferring oil to North Korea

South Korea has seized a ship it said was carrying oil to North Korea, in breach of United Nations sanctions. The Hong-Kong registered vessel arrived in South Korea in October to load with refined oil, according to media reports. But instead of heading to Taiwan, where it was thought… Read More

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