Residents were left helpless as departments ‘passed the ball’ on safety complaints

South China Morning Post - Oct 29, 2026

No government department took effective ownership of fire safety risks ahead of the deadly Tai Po fire, leaving complaints made by residents to fall into a vacuum, an independent committee found, singling out four departments as partly responsible for the disaster. At the release of the 1,154-page full report on Thursday, Chief Secretary for Administration Eric Chan Kwok-ki said he would lead a steering committee to review and implement the more than 100 recommendations of the independent...

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Hong Kong police probe HK$40 million jewellery theft from Southern district flat

Hong Kong police launched an investigation into the disappearance of jewellery worth nearly HK$40 million (US$5.1 million) from a woman’s home in the upscale Southern district neighbourhood of Chung Hom Kok. The woman, 56, called police at about 1pm on Thursday, two days after returning to her four-storey, stand-alone block at Bauhinia Garden on Chung Hom Kok Road to discover that a pearl necklace worth about HK$39 million and a diamond necklace worth HK$700,000 had disappeared. She had placed...

Hong Kong police probe HK$40 million jewellery theft from Southern district flat

China accuses Philippines of setting up ‘obstacles’ to attending Asean defence meeting

China has accused the Philippines of setting up “numerous obstacles” to attending a meeting with defence ministers from the Association of Southeast Asian Nations and of violating “basic diplomatic protocols”. The row, which follows years of tension over the two countries’ competing claims to the South China Sea, saw Beijing sending its defence attache to the meeting in Lapu-Lapu in the Philippines – the lowest-ranking Chinese representative at the event since it was first held in 2010. “The...

China accuses Philippines of setting up ‘obstacles’ to attending Asean defence meeting

Hong Kong scraps lighting attraction at The Peak after public outcry

Hong Kong authorities have scrapped a controversial plan to install decorative lights along a scenic trail on The Peak to increase the city’s nighttime tourism appeal following a public outcry, promising to restore the natural landscape as soon as possible. The Culture, Sports and Tourism Bureau and Tourism Board concluded there was no urgent need to roll out the project after assessing the effectiveness of a watered-down version of the attraction, according to documents they submitted to the...

Hong Kong scraps lighting attraction at The Peak after public outcry

Lit cigarette, combustibles and ‘human fault’ led to deadly Hong Kong fire: report

A combination of a lit cigarette and an “abundant fuel” of combustible materials caused Hong Kong’s deadliest fire in decades, according to a long-awaited report which found the blaze would not have killed so many people, or happened at all, without “human fault”. Eleven months after the deadly fire tore through Wang Fuk Court, killing 168 and displacing thousands, an independent committee’s report released on Thursday assigned blame to the main contractor for renovations at the housing estate,...

Lit cigarette, combustibles and ‘human fault’ led to deadly Hong Kong fire: report

Later hours unlikely to boost bottle sales at Hong Kong wine festival: exhibitors

Later opening times are unlikely to boost wine sales by the bottle, exhibitors returning to Hong Kong’s annual Wine and Dine Festival have said, with new overseas participants believing that the city serves as an indicator for broader trends in Asian markets. The festival returned to the Central Harbourfront on Thursday with over 340 booths, an increase of more than 10 per cent from last year, with over 30 countries and regions represented. Operating hours are from 1pm to 1am on Friday and...

Later hours unlikely to boost bottle sales at Hong Kong wine festival: exhibitors

Hundreds of customers' personal information at Bithumb leaked in hacks

Personal information of hundreds of customers at cryptocurrency exchange Bithumb has been leaked in a recent cyberattack, industry sources said Thursday. Bithumb reported a data breach in its in-house mobile system on Wednesday, but the incident was initially believed to have affected only its employees. After analyzing the scope of the data leak, Bithumb found that personal information of hundreds of customers has also been exposed, according to the sources. Three financial firms — Daishin Securities, Mirae Asset Global Investments and Bithumb — have been hit by cyberattacks, in the latest hacking attack targeting the nation's financial institutions.

Hundreds of customers' personal information at Bithumb leaked in hacks

JB Financial expands partnerships with AI, fintech companies

JB Financial Group brought together strategic partners at its annual forum to expand cooperation in artificial intelligence (AI) and fintech, the company said Thursday. The group held its second annual JB Forum from last Friday to Saturday at its campus in Jeongeup, North Jeolla Province, with 14 partners from Korea and abroad participating. Held under the theme "Navigating Tomorrow," the two-day forum featured strategic partners including Finda, Upstage, Aigen Global, Higher Diversity and MediArk, which shared business developments and discussed potential areas of collaboration. JB Financial has made strategic investment in 17 companies so far, expanding its focus this year beyond domestic and overseas fintech firms to include AI and digital assets. Four companies joined its partner network this year including Upstage, Streami, U.S.-based AI security firm CipherData and Higher Diversity. Participants shared developments from the past year and discussed how AI could reshape financial services and workplace practices. The forum also featured demonstrations of physical AI, with humanoid robo

JB Financial expands partnerships with AI, fintech companies

Lotte reshuffles biz portfolio with Busan store sale to Shinsegae

Lotte Shopping, a retail affiliate of Korea's Lotte Group, said Thursday it has agreed to sell a department store in the southeastern port city of Busan to rival Shinsegae Group as part of its business reorganization. The move is part of the company's "select and focus" strategy, aimed at responding swiftly to rapidly changing retail market conditions through asset sales and business restructuring, the company said in a press release. The deal to transfer Lotte Department Store's Centum City outlet in Busan, about 330 kilometers southeast of Seoul, to Shinsegae Centum City will be completed following a review by the Fair Trade Commission (FTC), the company said. "We will increase investment in core department stores nationwide and strengthen our business competitiveness by developing new shopping malls," a company official said. Lotte Shopping currently operates four department stores in Busan, including the Centum City outlet. The outlet will remain in operation until the FTC completes its review. Globally, Lotte Shopping operates 61 department stores, including four in Vietnam and Indon

Lotte reshuffles biz portfolio with Busan store sale to Shinsegae

Dongwon launches AI-powered tuna vessel with drone technology

Dongwon Industries, Korea’s leading seafood conglomerate, has deployed a state-of-the-art 2,000-ton fishing vessel equipped with artificial intelligence (AI) and aerial drones to track tuna schools and enhance crew safety in the South Pacific. The company held a launch ceremony for the Danuri at Dadae Port in Busan Thursday afternoon, with about 200 people attending, including Oceans and Fisheries Minister Hwang Jong-woo, Dongwon Group Chairman Kim Nam-jung and Dongwon Industries CEO Park Sang-jin. Built with an investment of more than 50 billion won ($35 million), the vessel brings advanced technology to nearly every stage of tuna fishing, from locating schools to preserving the catch. Danuri carries two drones designed specifically for fish detection, capable of taking off and landing automatically while the vessel is moving and flying at speeds of up to 120 kilometers per hour. Footage captured by the drones is analyzed in real time by AI systems in the vessel's control room, while three-dimensional sonar and radar help crews identify fish schools and improve fishing efficiency. The

Dongwon launches AI-powered tuna vessel with drone technology

Major financial groups enjoy strong Q3 earnings, but face mounting regulatory pressure

Korea’s four largest financial groups — KB, Shinhan, Hana and Woori — have shown strong earnings for the third quarter of this year, posting a combined 5.76 trillion won ($4.31 billion) in net profit. But a recent wave of cyberattacks and data breaches, as well as tougher regulatory scrutiny of corporate governance, are adding to the challenges they face, industry officials said Thursday. According to market data, KB Financial Group led the pack with a third-quarter net profit of 1.91 trillion won, up 13.1 percent from a year earlier. Its cumulative profit for the first nine months reached a record 5.79 trillion won. Shinhan followed with 1.58 trillion won, an 11.3 percent increase from the same period last year. Its nine-month net profit also hit a record, at 5.03 trillion won. Hana logged a net profit of 1.22 trillion won, its highest quarterly figure since the 2015 merger of Hana Bank and Korea Exchange Bank. Woori was the only one of the four to post a decline, with net profit falling 15.7 percent to 1.04 trillion won. Even so, it recorded a quarterly profit of over 1 trillion

Major financial groups enjoy strong Q3 earnings, but face mounting regulatory pressure

Hyosung chairman calls for work culture overhaul on 60th anniversary

Hyosung Group Chairman Cho Hyun-joon called for a fundamental overhaul of work practices and a more resilient corporate culture, Thursday, urging employees to remain steadfast in pursuing their goals as the group marked its 60th anniversary. Speaking at a ceremony at Hyosung’s headquarters in Seoul, Cho said mounting government debt, fiscal deficits, prolonged overseas wars and spreading protectionism in global trade were worsening the business environment. “Our company is by no means immune to these crises,” Cho said. “What we need to overcome them and achieve a new leap forward is an intense commitment to our goals.” He outlined persistence, meticulousness and reliability as key values. “These are not simply slogans,” he said. “They are the attitudes and principles we must put into practice to survive, outperform our competitors and embark on our next 100 years.” Cho also highlighted the meaning of Hyosung’s name, “morning star,” urging employees to remain hopeful through adversity and forge a new future through diligence and perseverance. The ceremony also recogn

Hyosung chairman calls for work culture overhaul on 60th anniversary

Hanwha Aerospace swings to Q3 net loss due to delayed weapons deliveries

Korean defense firm Hanwha Aerospace said Thursday it swung to a net loss in the third quarter, weighed down by delayed weapons deliveries and one-off costs. The company posted a net loss of 36.7 billion won ($27.5 million) for the July-September period, reversing a profit of 699 billion won a year earlier, according to a regulatory filing. Operating profit fell 46.2 percent on-year to 452 billion won, while revenue declined 6 percent to 6.09 trillion won. Hanwha Aerospace attributed the weaker performance partly to the postponement of K9 self-propelled howitzer deliveries to Poland until the fourth quarter. Some weapons deliveries had also been completed ahead of schedule in the second quarter. The company's ground defense division reported revenue of 1.24 trillion won and operating profit of 21.7 billion won. Its order backlog stood at 35 trillion won as of the end of September. The aerospace division posted revenue of 659.9 billion won and an operating loss of 2.4 billion won, as increased deliveries of geared turbofan (GTF) engines to its client led to higher losses under its risk- an

Hanwha Aerospace swings to Q3 net loss due to delayed weapons deliveries

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