China State Industry Profit

Jan 19, 2021

Residents pass by an Industrial and Commercial Bank of China (ICBC) branch in Beijing Tuesday, Jan. 19, 2021. Profit at state-owned companies that dominate China's banking, oil and most other industries rose by as much as 25% last year as the country recovered from the coronavirus pandemic, according to the. State-Owned Assets Supervision and Administration Commission which oversees 97 companies directly under the Cabinet including PetroChina Ltd., Asia's biggest oil producer; China Mobile Ltd., the world's biggest phone carrier by number of subscribers, and Industrial and Commercial Bank of China Ltd., the world's biggest bank by assets. (AP Photo/Ng Han Guan)

More News

Bank of America fined US$1.21 billion as US flags suspected Chinese money laundering

Bank of America, the second-largest US bank, failed to promptly report hundreds of millions of dollars in suspicious transactions bearing signs of Chinese money-laundering networks, US regulators said on Tuesday, announcing more than US$1.21 billion in penalties for broader anti-money-laundering and sanctions failures. The Financial Crimes Enforcement Network, or FinCEN, said the activity included large wire transfers to counterparties in China, repeated credit-card purchases at major retailers...

Bank of America fined US$1.21 billion as US flags suspected Chinese money laundering

EU leaders to ‘urgently’ call for new trade weapons to tackle China shock

Leaders of the EU’s 27 member states will instruct Brussels to “urgently” come up with new weapons to counter the imbalances they believe are caused by China’s economic policies, at a meeting in the Belgian capital on Thursday. The instruction – part of a draft statement being negotiated ahead of this week’s European Council summit – comes after the European Union and China reached a surprise deal in Beijing last week that will cap the number of Chinese hybrid cars imported to the bloc at...

EU leaders to ‘urgently’ call for new trade weapons to tackle China shock

Hong Kong extends smart fire alarm scheme to another 6,000 old buildings

Hong Kong’s Fire Services Department has extended a scheme allowing property owners to install smart fire alarm systems rather than traditional safety equipment to another 6,000 old buildings, but conceded that no installations had been completed although the policy was rolled out over five months ago for 3,600 blocks. Lai Kin-mo, acting deputy chief fire officer for building improvement, said on Wednesday that while 300 buildings had expressed interest in installing the system, which can send...

Hong Kong extends smart fire alarm scheme to another 6,000 old buildings

Defector who won $37,210 from Kim Jong-un in lawsuit vows to fight on

In July 2025, Choi Min-kyeong brought an unusual suit against someone few would have tried to lodge a case against: North Korean leader Kim Jong-un. It was the first time a North Korean defector filed a lawsuit against Kim, seeking damages for the torture and sexual violence she suffered in North Korea. "People around me said filing the lawsuit made no sense," Choi, 55, president of the Imprisonment Victims' Family Association, said in an interview with The Korea Times. "At first, a police officer who took my complaint thought it was ridiculous and dismissed it." However, in August, the Seoul Central District Court sided with Choi in her damages suit against Kim, awarding the full 50 million won ($37,210) she had sought. "I was happy and proud when I heard the ruling. I risked my life filing this lawsuit because I couldn't get my eldest daughter out. The 50 million won is just symbolic, calculated from court fees and legal costs, since even 500 billion won wouldn't satisfy my anger," Choi said, adding that the ruling established a legal basis to arrest Kim if he ever enters South Korea.

Defector who won $37,210 from Kim Jong-un in lawsuit vows to fight on

Hyundai Motor Group chief marks 6 years at helm with physical AI ambitions

Hyundai Motor Group Executive Chair Chung Euisun marks six years at the helm on Wednesday, spearheading the automaker’s transformation into a global top-three auto player by sales and steering it into a key future mobility player focusing on robotics, autonomous driving and artificial intelligence (AI). The next phase of his leadership, however, will hinge on whether the group can turn its physical AI ambitions into profitable businesses. Chung is also tasked with addressing mounting pressure on its core automotive operations and labor relations. Since taking the top post in 2020, Chung has overseen Hyundai Motor and Kia’s rise to the world’s third-largest automotive group by vehicle sales, behind Toyota and Volkswagen. The group maintained that ranking for four consecutive years through 2025. Hyundai Motor and Kia’s combined annual sales also surpassed the symbolic mark of 300 trillion won ($223 billion) for the first time last year. The expansion reflects a strategy that combined electrification with a stronger focus on high-margin vehicles, including SUVs and Genesis luxury m

Hyundai Motor Group chief marks 6 years at helm with physical AI ambitions

Hanwha, US Army name US version of K9 howitzer XM1776

WASHINGTON — Hanwha Defense USA (HDUSA) and the U.S. Army have officially designated the American version of Hanwha's K9 self-propelled howitzer as the XM1776 Mobile Tactical Cannon (MTC), the company has announced. According to HDUSA, a U.S. subsidiary of South Korean defense giant Hanwha Aerospace Co., the company held a naming ceremony for the XM1776 at the Association of the U.S. Army's (AUSA) 2026 Annual Meeting and Exposition on Tuesday in Washington. In August, HDUSA was selected to provide prototypes based on a wheeled variant of the best-selling K9 Thunder self-propelled artillery system for the MTC program, which aims to develop a highly mobile 155-millimeter artillery system to replace the Army's aging M777 towed howitzers. HDUSA also announced that the U.S. Army has ordered a total of nine prototype XM1776 systems, with an option for nine additional units. The XM1776 is a wheeled artillery system designed to support the U.S. Army's modernization efforts, including improvements in mobility and long-range precision fires capabilities. "The XM1776 Mobile Tactical Cannon represe

Hanwha, US Army name US version of K9 howitzer XM1776

Female Marine stands guard on Korea's front-line island

When Marine Corps Staff Sgt. Yoo Mi-young was assigned to Udo Island, it was not the well-known tourist destination off Jeju but a much smaller island off Ganghwa in Incheon, near the inter-Korean maritime border. The scenery immediately caught her eye, but so did the significance of serving at one of Korea’s front-line military outposts. It is during nighttime guard duty, with the coastline quiet around her, that Yoo feels the weight of that responsibility. “When I look out over the coast in the stillness of the night, I feel a strong sense of responsibility for guarding the country’s front line,” Yoo said in an interview with The Korea Times. Yoo serves as deputy platoon leader of the Marine Corps’ Udo Guard Unit, part of the Yeonpyeong Unit, where her duties include coastal security operations, training and equipment inspections. Commissioned in July 2023, Yoo said she joined the Marines to challenge herself and serve her country. She was drawn to the demanding training and the chance to push her limits alongside fellow Marines, despite her family’s initial concerns about h

Female Marine stands guard on Korea's front-line island

Chungnam National University students donate merchandise sales proceeds to university fund

Students from the Department of Smart City Architectural Engineering at Chungnam National University donated all proceeds from the sale of locally themed merchandise at a regional festival to the university’s development fund. The university said five students met with university president Kim Jeong-kyoum on Tuesday and donated 728,000 won ($544) to the fund. The students — Shim Byeol, Park Ji-bin, Oh Yun-seo, Lee Yeon and Jang Seo-hee — were accompanied by their faculty advisers Kim Gyu-young and Lim Seung-cheol. As part of the Living Lab Capstone course, the students designed and sold merchandise at a regional festival as members of a team called “Oncheon Osungi.” Their products combined the appeal of Yuseong Hot Springs with Daejeon’s identity as a science city. The students ran an interactive booth at the 2026 Midsummer Night’s Yuseong Music Festa, held Aug. 7-9. They showcased keycaps inspired by Yuseong Hot Springs and the local specialty Pongdang Bread, as well as merchandise featuring the university mascot, Chacha. The university said the students designed and produce

Chungnam National University students donate merchandise sales proceeds to university fund

7 in 10 teachers oppose CSAT essay questions over grading disputes, AI concerns

A parent demands full marks for a written English answer, citing an email from a professor at an American university. In another case, a private academy challenged an English test score, and the dispute later led to a lawsuit over partial credit. These incidents, described in a casebook recently released by the National Secondary School Teachers’ Union, show the challenges facing discussions about introducing written-response and essay questions into Korea’s College Scholastic Ability Test (CSAT), potentially aided by artificial intelligence (AI) grading. The casebook accompanied a survey of 2,427 middle and high school teachers conducted from Sept. 7-30. Middle and high school teachers nationwide say persistent grading complaints have pushed them to set questions with fixed answers. They warn that expanding essay-based assessments could worsen disputes and increase their workload. Several teachers described a tension between encouraging diverse, well-reasoned answers and creating grading criteria precise enough to withstand complaints. One English teacher reported that a dispute inv

7 in 10 teachers oppose CSAT essay questions over grading disputes, AI concerns

Lawmaker sentenced to 2 1/2 yrs in prison over cash-for-nomination scandal

A Seoul district court on Wednesday sentenced independent lawmaker Kang Sun-woo to 2 1/2 years in prison on charges of receiving money in exchange for an election nomination. The Seoul Central District Court handed down the sentence for Kang, formerly a member of the ruling Democratic Party of Korea (DPK), also ordering her to forfeit 100 million won ($75,000). Prosecutors had sought a four-year prison term for Kang, accusing her of accepting 100 million won from former Seoul city councilor Kim Kyung in January 2022 in exchange for a DPK nomination ahead of the local elections that year. Kang served as a member of the DPK's nomination committee for Seoul city councilors at the time. Kim was selected as a DPK nominee and was elected in the 2022 local elections. The court sentenced Kim to one year in prison and a former aide to Rep. Kang to an eight-month prison term, suspended for two years, for arranging the meeting between Kang and Kim. The court ordered for Kang and Kim to be immediately placed under custody, citing concerns of flight and possible destruction of evidence. The two were b

Lawmaker sentenced to 2 1/2 yrs in prison over cash-for-nomination scandal

Korea helps 16 Asia-Pacific nations preserve written heritage

Korea is bringing together archivists and cultural experts from 16 Asia-Pacific nations in Jakarta, Indonesia for an international workshop focused on preserving historical records and preparing them for global recognition under UNESCO’s documentary heritage program. The 2026 UNESCO Memory of the World International Capacity-Training Workshop, running from Tuesday to Friday, is hosted by the Korea’s Heritage Service and Korean National Commission for UNESCO at the National Archives of Indonesia. Launched in 2009, the annual program provides practical training for countries seeking to identify significant documentary heritage and prepare nominations for UNESCO’s Memory of the World register, with particular attention to nations underrepresented on the international list. Over 17 years, 18 documentary heritage items from participating countries have been added to the register, while 11 others have entered regional registers, organizers said. This year’s workshop is the largest yet, drawing participants from Timor-Leste, Laos, Myanmar, Bangladesh, Brunei Darussalam, Sri Lanka, Uzbek

Korea helps 16 Asia-Pacific nations preserve written heritage

Special counsel raids election watchdog over alleged bidding corruption

A special counsel team on Wednesday raided the National Election Commission (NEC) over suspicions of bid rigging involving around 5 billion won ($3.7 million) worth of election supplies. Special counsel Lee Tae-han's team said it sent investigators to the NEC's office and four other locations, including election supplies companies, to search for and seize evidence in connection with the allegations. Lee's team said it has found signs of alleged collusion between the NEC and the companies regarding polling station supplies for the presidential election last year and the local elections in June. The special counsel team launched last month to investigate ballot shortages reported across the country during the June 3 local elections in addition to other allegations of misconduct by the election watchdog.

Special counsel raids election watchdog over alleged bidding corruption

Recommended