[Newsmaker] Seven bodies found on suspected N. Korean boat in Japan

TOKYO, (AFP) -- The badly decomposed remains of seven people have been found in a suspected North Korean fishing boat that washed up on a Japanese island, a coast guard official said Sunday.The remains were found on Saturday in a broken vessel on the shore of Sado Island, which lies around 900 kilometres (560 miles) from North Korea across the Sea of Japan."Five of the bodies were identified as men but the remaining two could not be identified" as they were badly damaged, the official

North KoreaDec. 29, 2019

S. Korea picks 11 local, foreign banks for won-yuan FX trading in 2020

South Korea's finance ministry said Sunday it has selected 11 banks, including five foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions next year.The banks will be also tasked with taking the lead in providing liquidity to the market, the Ministry of Economy and Finance said in a statement. The six South Korean banks are KB Kookmin bank, Industrial Bank of Korea, Shinhan Bank, Woori Bank, KEB Hana Bank and Korea Development Bank. And the five local

EconomyDec. 29, 2019

S. Korea to expand AI-related investment in 2020

South Korea's science ministry said Sunday that it will inject 76.1 billion won ($65.6 million) into its artificial intelligence hub program in 2020 as part of an ongoing effort to bolster the country's competitiveness in the sector.The reading marks a more than two-fold increase from 31 billion won allocated for this year and more than an eight-fold surge compared with 9.2 billion won spent in 2018 when Seoul launched the endeavor.  The ministry's AI hub is an open portal that can be used

TechnologyDec. 29, 2019

Seoul to expand innovative drone development in 2020

South Korea's science ministry said Sunday it will allocate 26.9 billion won ($23.2 million) in 2020 to further expand the country's innovative drone capabilities.Of the total, 13 billion won will be used to secure original technologies, with 6.7 billion won to go drones that make use of 5G and artificial intelligence technologies, the Ministry of Science and ICT said. It said funds will also be set aside for public procurement. The amount to be spent in the new year is up 94 percent from 13.9 b

TechnologyDec. 29, 2019

S. Korea's machinery exports top $50b mark for 2nd year

South Korea's annual exports of machinery surpassed the $50 billion threshold, data showed Sunday, standing as the second-largest export item for Asia's No. 4 economy after semiconductors.The country's outbound shipments of general machinery are estimated at $52.5 billion this year, according to the Ministry of Trade, Industry and Energy.The country's machinery exports surpassed the mark for the first time last year by shipping $53.5 billion, up 10 percent from a year earlier. Machines are the s

IndustryDec. 29, 2019

S. Korean auto market to grow 1.2% next year: report

South Korea's auto market is expected to grow 1.2 percent next year, turning around from this year's estimated 3.6 percent contraction, a report showed Sunday.According to the report compiled by Hyundai Motor Group, the country's auto market is expected to reach some 1.77 million units next year, following this year's estimated 1.75 million units.The report said the United States, the world's largest auto market, will suffer a drop in auto sales for the second consecutive year, while China will

IndustryDec. 29, 2019

Korea's Dec. exports estimated to fall by slower pace: poll

South Korea's exports are widely expected to extend its slump to a 13th month in December, but its declining pace may slow down, on the back of a rebound in global chip prices amid progress in a trade deal between the United States and China, a poll showed Sunday.The country's exports are estimated to reach $45.9 billion this month, down 4.7 percent from a year earlier, according to the poll conducted on seven local financial organizations by Yonhap Infomax, the financial information service arm

EconomyDec. 29, 2019

Japanese travelers to S. Korea still outpacing Korean visitors to Japan amid trade row

More Japanese tourists have visited South Korea than South Koreans have visited the Asian neighbor since August, data showed Sunday, after their countries have been engaged in an unprecedented trade row, sparking a boycott of Japanese goods and services here.The number of Japanese visiting South Korea reached 329,652 in August, while that of South Koreans visiting Japan came to 308,730, according to the data compiled by the tourism promotion agencies of both countries.It marked the first time in

IndustryDec. 29, 2019

Hyundai, Kia's SUV sales in Europe tipped to hit record high this year

The sales of SUVs in Europe by South Korea's top two carmakers -- Hyundai Motor Co. and Kia Motors Corp. -- may hit a record high, probably surpassing the 500,000-unit mark, aided by its diversified portfolio and strong demand, industry sources said Sunday.According to the sources, the two carmakers have sold some 460,000 SUVs in the European market through November, already nearing last year's 467,550 units in total. Should the pace be maintained, their annual sales of SUVs in Europe will top t

IndustryDec. 29, 2019

Korea's inflation projected to grow 0.59% in Dec.: poll

South Korea's consumer prices are again expected to fall short of the target this month, mainly due to a fall in prices of agricultural products, a poll showed Sunday.In a recent survey by Yonhap Infomax, the financial news arm of Yonhap News Agency, seven local analysts predicted the country's consumer prices to grow 0.59 percent from a year earlier in December. In November, inflation gained 0.2 percent on-year.December would mark the 12th consecutive month the country's consumer prices have gr

EconomyDec. 29, 2019

Korean shipyards tipped to maintain No. 1 spot in new orders this year

South Korean shipbuilders, led by top player Hyundai Heavy Industries Co., are expected to maintain their status as the world's top position in new orders this year, although they may fail to meet their annual order targets, industry sources said Sunday.According to the sources, South Korean shipbuilders have secured new orders totaling 7.12 million compensated gross tons to build a total of 168 ships through November, accounting for 36 percent of the total deals placed around the globe.Chinese

IndustryDec. 29, 2019

Samsung to launch 'clamshell' foldable phone in Feb.

Samsung Electronics Co. is set to release a new foldable smartphone that folds like a clam in February before the release of the upcoming flagship Galaxy S11 next year, industry sources said Sunday.The South Korean tech giant is currently in talks with the country's three mobile carriers to release its second foldable smartphone at home, with a goal of releasing it in February, according to the sources.Samsung Electronics will hold its Unpacked event in the United States in mid-February, where i

IndustryDec. 29, 2019

Biden leaves it unclear if he would honor Senate subpoena

WASHINGTON (AP) -- Joe Biden sought Saturday to clarify his assertion that if the Senate subpoenas him to testify in President Donald Trump's impeachment trial, he will defy the order. But he did not clear up what he would do.A day earlier, the Democratic presidential contender told The Des Moines Register he stood by his position that he would defy the Republican-controlled Senate if it ordered him to be a witness in the proceedings."Correct," he said when asked if that was still his

World NewsDec. 29, 2019

N. Korea holds key party meeting to discuss 'important policy issues'

North Korea has held the first-day session of a previously announced meeting of the ruling Workers'Party to discuss "important policy issues for new victory in our revolution," state media said Sunday."Guided" by leader Kim Jong-un at the venue in Pyongyang on Saturday, it was to discuss important matters in "the building of the state and national defence," according to the North's official Korean Central News Agency in English. The plenary meeting of the party's Ce

North KoreaDec. 29, 2019

Parties lock horns as ruling party vows to pass contentious bills

The ruling Democratic Party (DP) vowed Saturday to pass additional contentious "fast track" bills through the National Assembly next week while the main opposition party condemned the move as "railroading," deepening partisan rows."The DP will overcome the resistance and obstruction of the Liberty Korea Party and the prosecution in order to pass prosecution reform bills, as we passed an electoral reform bill through parliament," DP spokesperson, Rep. Hong Ihk-pyo sa

PoliticsDec. 28, 2019

Japan notifies UN of suspected N. Korean transshipment in East China Sea

Japan has notified the United Nations of a suspected North Korean transshipment case, the country's 15th such UN notification since the start of last year, according to the Japanese foreign ministry. The Japanese Ministry of Foreign Affairs announced a day earlier that the country has informed the Security Council Committee's Panel of Experts of the suspected North Korean transshipment the country detected.According to the ministry, a Japanese Self-Defense Forces patrol plane found a North

North KoreaDec. 28, 2019

Head of minor rightist party accused of insulting party official

The minor rightist Our Republican Party's co-head was accused of insulting and verbally abusing a party official, police said Saturday.According to Seoul's Yeongdeungpo Police Station, the party official filed an official complaint with the police, accusing co-head of the party Cho Won-jin of insulting and verbally abusing the official during a recent protest rally in front of the National Assembly. The party official demanded a criminal penalty for Cho for the alleged insult and verbal abu

PoliticsDec. 28, 2019

BMW Korea wins lawsuit against government's emission-related fine

BMW Korea has virtually won a lawsuit against the over 60 billion-won (US$51.7) fine imposed by the government over the auto company's gas emission verification, sources said Saturday. In September, the Supreme Court of Korea convicted BMW Korea of illegally skipping the compulsory gas emission verification process and forging related documents in the period of 2012-2017, leading to the government's imposition of a 62.7 billion-won fine on the company. Protesting the decision, BMW Kore

MobilityDec. 28, 2019

Seoul shares to trade flat on geopolitical issues

South Korean stocks are predicted to stay mostly flat next week as investors are expected to sit on the sidelines amid the possibility of a provocation by North Korea, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,204.21 points on Friday, little changed from the previous week.Earlier in the week, the market closed lower as investors took a breather and cashed in recent gains after the market hit an almost eight-month high on Friday, buoyed

MarketDec. 28, 2019

Newest Blue Jay Ryu Hyun-jin brought No. 99 back to Canada: agent

In Canadian sports, 99 is a sacred number, for it was worn by one of the country's greatest athletes, the hockey legend Wayne Gretzky.Though in a different sport, South Korean pitcher Ryu Hyun-jin will now don No. 99 for the Toronto Blue Jays, which signed him to a four-year, US$80 million contract. Ryu has had that number throughout his pro career, which began in South Korea in 2006 and shifted to the majors with the Los Angeles Dodgers in 2013. While No. 99 is retired across the National Hocke

BaseballDec. 28, 2019