The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Dec. 29.
Jeju Air plane crashes at Muan Airport: “All but two presumed dead”
All but two are presumed dead among the 181 people aboard a passenger plane that crashed at Muan International Airport on Dec. 29. The Jeju Air flight, en route from Bangkok, veered off the runway while landing without wheels, slammed into a wall and burst into flames at 9:03 a.m. Footage of the crash showed the plane’s landing gear was not deployed, causing the plane to skid across the airstrip before colliding head-on with a concrete wall on the outskirts of the airport. Authorities suspect a bird strike, a collision with birds during flight, may have caused the landing gear malfunction. The Transport Ministry said the plane was a 15-year-old Boeing 737-800. If the death toll is confirmed after rescue teams finish recovery operations, it will be recorded as South Korea’s worst aviation accident.
Samsung Group’s market cap shrinks by $110 billion in 2024
Samsung Group’s market capitalization has dropped by over 160 trillion won ($110 billion) this year, driven by a sharp decline in Samsung Electronics’ stock price. The combined market capitalization of Samsung Group’s 22 listed companies fell 22.7% to 548.44 trillion won as of Dec. The combined market capitalization of Samsung Group’s 22 listed companies stood at 548.44 trillion won as of Dec. 26, down 22.7% from 709.69 trillion won at the end of last year. The group’s share in the domestic stock market also dropped to 27.57% after remaining in the 30% range for over two years. The group’s leading company, Samsung Electronics, led the downturn, falling 32% this year.
Harbin leads box office with over 2 million moviegoers in five days
South Korean film Harbin has attracted over 2 million moviegoers just five days after its release. Harbin is a biographical period drama film directed by Woo Min-ho, also known for Inside Men (2015) and The Man Standing Next (2020). The film is about Ahn Jung-geun, a Korean independence activist who assassinated Ito Hirobumi, the first Prime Minister of Japan, during Japan’s colonial rule of Korea in 1909. Hyun Bin stars as Ahn Jung-geun, with supporting performances from Park Jung-min, Cho Woo-jin, Lee Dong-wook, Park Hoon, and Jeon Yeo-bin.
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