Baste Duterte arrives at Senate for VP Sara impeachment
Sep 29, 2026
Officials newly elected in June's local elections reported average assets of 1.35 billion won ($996,500), according to Government Ethics Committee data released Tuesday. The committee disclosed the personal assets of 1,259 individuals, including 563 local governors, mayors, councilors and education chiefs elected in the June elections. The others are 586 people who retired from elected offices and 110 appointed public officials. The average assets of the newly elected people amounted to 1.35 billion won per person. The heads of large local governments averaged 1.99 billion won per person in assets while small local government heads declared an average 1.69 billion won of wealth. Among the heads of small local governments, Bonghwa County Mayor Choi Gi-young reported the largest assets at 34.9 billion won, while Yoon Yu-jin, a member of the Seoul Metropolitan Council, topped the wealth list among newly elected members of large local councils with 15.64 billion won, according to the data.
Korea’s largest fashion shopping platform Musinsa is currently under investigation by the Seoul Regional Tax Office over CEO Cho Man-ho’s alleged appropriation of corporate funds for his real estate investment spinoff firm, Lapel. The investigation, which began last month, is being led by Investigation Bureau 4. Unlike other offices that primarily handle regular tax audits, Bureau 4 is known for conducting special investigations that can begin without prior notice and, in serious cases, develop into tax offense investigations, potentially exposing the targets to criminal complaints and significant business risks. The Bureau 4 investigation began while the Fair Trade Commission (FTC) was still investigating Musinsa in a separate case, which concluded earlier this month. The antitrust watchdog looked into whether Musinsa prevented some partner brands from selling through other retail channels in order to secure exclusive sales of their products. The investigation, which began in August 2024, ended with the FTC concluding that the arrangements were part of normal business or marketing
North Korea on Tuesday accused the United States of driving the global nuclear order into "the worst crisis" through its "nuclear proliferation activities" and used the accusation to defend its own nuclear program. The accusation came in a foreign ministry's "memorandum" carried by the Korean Central News Agency (KCNA), hours after Vice Foreign Minister Kim Son-gyong told the U.N. General Assembly in New York that North Korea's nuclear program is an "irresistible" force needed to protect its sovereignty and security against external threats. Washington has "irresponsibly abandoned its disarmament obligations as a nuclear-weapon state," the memorandum said. Its rapid buildup of nuclear forces and "blatant" nuclear proliferation, it said, left Pyongyang no choice but to "play a more active role" "as a responsible nuclear-weapon state." The document cast the U.S. as the main culprit behind global nuclear proliferation, citing its nuclear buildup and modernization and its withdrawal from arms-control treaties. North Korea also pointed to U.S. nuclear-powered submarine cooperation with Seoul a
President Lee Jae Myung on Tuesday called for a thorough investigation to determine the truth behind a mine blast inside the Demilitarized Zone (DMZ) last week that injured three South Korean soldiers. Lee made the remark during a Cabinet meeting at Cheong Wa Dae, a day after the military announced preliminary findings that the explosion likely had been caused by North Korean mines. Lee vowed to take necessary measures and offered his consolation to the injured troops while wishing their full recovery.
Cheong Wa Dae on Tuesday rejected allegations that the timing of the military's inspection of a mine blast site was tied to President Lee Jae Myung's remarks on sanctions relief for North Korea ahead of last week's U.N. General Assembly. The main opposition People Power Party has accused the government of delaying an inspection of the site due to concerns Lee's call for sanctions relief would be undermined in the event North Korea is found responsible for the mine blast that injured three South Korean soldiers inside the Demilitarized Zone last week. The military on Monday announced preliminary findings that the explosion was highly likely to have been caused by illegally planted North Korean mines. "The Joint Chiefs of Staff and the U.N. Command planned and decided (on the timing of the inspection) purely based on a military judgment in consideration of the suggestions of field commanders," a presidential official said. "The military's on-site inspection regarding the mine accident has nothing to do with the president's U.N. speech." Lee had said in an interview with The New York Times
Chief financial regulators from South Korea and Japan agreed Tuesday to further cooperate on capital market policies. Lee Eog-weon, chairman of the Financial Services Commission (FSC), held a meeting with Japan's Financial Services Agency Commissioner Yutaka Ito earlier in the day. They exchanged views on the financial situation and agreed to work together to further boost financial cooperation, according to the FSC.
North Korea allegedly runs a secret detention facility in its embassy in China to interrogate and repatriate its nationals deemed threats to the regime, a report said Tuesday. The claim was made in a report titled "North Korea's Transnational Repression: China" released Tuesday by the Transitional Justice Working Group (TJWG), a Seoul-based human rights group. Based on interviews with multiple sources, including a former North Korean diplomat, the report claimed North Korea operates the facility in the basement of its embassy in Beijing, where surveillance, pursuit and arrest, detention and interrogation, and forced repatriation take place. The secret operation is overseen by a "security representative" who holds a consular post but is reportedly a North Korean intelligence agency officer on a temporary assignment. Cases are reported to Pyongyang within 12-24 hours, according to the report. The report details the account of North Korean hacker Pae Yong-ju, who was arrested by Chinese authorities in Inner Mongolia while trying to flee to South Korea. After being interrogated by Chinese aut
Samsung Electronics and five of its affiliates will invest $1 billion in Helix Digital Infrastructure, an artificial intelligence (AI) infrastructure firm established by global investment firm KKR, as part of their efforts to strengthen their foothold in the broader data center ecosystem. Samsung Group said Tuesday that Samsung Electronics, Samsung C&T, Samsung SDS, Samsung SDI, Samsung Life Insurance and Samsung Fire & Marine Insurance will invest in Helix. Samsung Electronics will contribute $500 million, with the other affiliates investing the remaining $500 million. Helix was established in June as an AI infrastructure company providing integrated services across hyperscale data center development and operation, power generation, power transmission and distribution infrastructure, fiber-optic networks and other network infrastructure. It is led by CEO Adam Selipsky, former CEO of Amazon Web Services. The Samsung affiliates will join KKR, the Kuwait Investment Authority, Nvidia and U.S. power company Vistra as founding investors in Helix. The companies did not disclose details of thei
Korea's overseas direct investment rose 32.3 percent in the second quarter of 2026 from a year earlier, data showed Tuesday, led by the financial and communication sectors. Overseas direct investment by Korea totaled $20.52 billion in the April-June period, up from $15.5 billion from the same three month period in 2025, according to the Ministry of Finance and Economy. The figure has posted on-year growth since the third quarter of 2025. By sector, overseas investment in the financial and insurance industry jumped 33.4 percent to $10.48 billion. The finance ministry attributed the increase to Korean businesses' efforts to diversify their global portfolios. Overseas direct investment in manufacturing rose 3.2 percent on-year to $3.57 billion. Investment in the information and communication sector more than tripled to $2.73 billion, the data showed. By destination, investment in the United States rose 53.6 percent to $8.86 billion, followed by Japan at $2.46 billion, sharply up from $300 million a year earlier. Investment in Luxembourg rose 14.2 percent to $1.59 billion, the latest findings sh
The chief of Korea's antitrust watchdog said Tuesday he will work to "restore justice" after a local court recently cleared the way for the agency to resume its stalled probe into U.S.-listed e-commerce giant Coupang Inc. Ju Biung-ghi, head of the Fair Trade Commission (FTC), made the remarks during an interview with local radio broadcaster CBS, signaling the agency's intention to resume its investigation. Last month, Coupang refused to cooperate with the watchdog's on-site probe into allegations the company had shifted the costs of discounts onto its suppliers and asked a court to suspend the inspection. The court initially granted a temporary suspension of the FTC's on-site inspection but eventually rejected Coupang's request to halt the probe last week. "(Coupang) deals with various vendors, and the company could be subject to regulatory action if it has imposed unfavorable terms on them," Ju said. "It is a relief the judge handling the case ruled in favor of the public interest, including the rights of the economically vulnerable and hundreds of thousands of small merchants," he added
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