S. Korea completes repayment of W48.7tr worth of Treasury debts for this year

South Korea has completed repayment of a total of 48.7 trillion won ($41.2 billion) worth of Treasury debts sold for this year, the finance ministry said Monday. By repaying 1.5 trillion won worth of the debt last Thursday, the government bought back all Treasury bills that were sold for this year, the Ministry of Economy and Finance said in a statement.  Such debts are usually sold to raise money to cover short-term financial shortfalls, and thus are generally sold with a maturity of less

EconomyDec. 2, 2019

Trade insurer to offer financing worth $3b to UAE oil firm

South Korea's state-run trade insurance firm said Monday it has agreed to offer financial support worth $3 billion to the Abu Dhabi National Oil Company in line with its efforts to expand ties with the top energy firm of the United Arab Emirates.Under the deal, the Korea Trade Insurance Corporation will offer insurance for the ADNOC's overseas project over the next three years, helping the firm to win loans from major global banks, including the Bank of China and US Citibank. It marks the larges

IndustryDec. 2, 2019

National Assembly set to miss legal deadline to pass govt. budget bill

The National Assembly looks almost certain to miss a legal deadline to handle the government's 2020 budget proposal on Monday amid intensified tensions sparked by the main opposition party's threat to use a filibuster.Dec. 2 is the legal deadline for the parliament to pass the government's record high 513.5 trillion-won ($435 billion) budget proposal for next year.But it is highly likely that parliament will miss the deadline for the fifth straight year as partisan conflicts have shown no signs

PoliticsDec. 2, 2019

5G subscribers in S. Korea near 4m in Oct.: data

Almost 4 million South Koreans subscribed to 5G mobile network as of October, with the number expected to breach the 5-million mark by the end of this year, government data showed Monday.The number of 5G users in the nation reached 3.98 million as of the end of October, adding 516,000 from a month ago, according to the data compiled by the Ministry of Science and ICT. The nation's three carriers -- SK Telecom Co., KT Corp., and LG Uplus Corp. -- rolled out the commercial 5G network in early Apri

IndustryDec. 2, 2019

Messi and Rapinoe expected to take Ballon d'Or honours

PARIS (AFP) -- Lionel Messi and USA women's World Cup superstar Megan Rapinoe are tipped to leave Paris later on Monday with the 2019 Ballon d'Or awards.It would be an enormous shock if Rapinoe did not depart the Chatelet Theatre with the women's prize as she returns to the country where she was the driving force on and off the field for the United States as they retained their title.The suspense surrounds the identity of the men's winner, 12 months after Croatia's Luka Modric claimed the crown

SoccerDec. 2, 2019

US again flies spy aircraft over S. Korean capital areas: aviation tracker

A US reconnaissance plane flew above the Korean Peninsula, an aviation tracker said Monday, on an apparent mission to monitor North Korea amid concerns the communist nation could undertake additional military provocations after last week's short-range rocket firings.The plane, believed to be a RC-135W Ribet Joint, was spotted flying in the skies above South Korea's Yellow Sea and capital areas "on task over the Korean Peninsula," Aircraft Spots posted on Twitter. It did not specify the

DefenseDec. 2, 2019

KT's AI robot debuts in Seoul hotel

KT Corp. said Monday its hotel service robot, enabled by artificial intelligence and other cutting-edge technologies, made its official debut in a Seoul hotel. The AI hotel robot, dubbed N bot, started its official service at Novotel Ambassador Seoul Dongdaemun Hotels & Residences, to serve guests in about 100 rooms, the telecom operator said. KT said it has applied its latest technologies, including three-dimension location mapping, autonomous driving and AI camera, to develop the robo

IndustryDec. 2, 2019

S. Korea launches anti-dumping probe into Vietnamese plywood

South Korea's trade commission said Monday it has launched an anti-dumping investigation into plywood imported from Vietnam, as local firms claimed the cheap imports are seriously damaging the domestic industry. The investigation came as the Korea Wood Panel Association, a union of South Korean plywood producers, filed a petition claiming that Vietnamese products have led to a decrease in their earnings.Plywood is used to produce construction materials and furniture.South Korea's market for plyw

IndustryDec. 2, 2019

Chief negotiator in defense cost-sharing talks with US departs for Washington

South Korea will strive to strike a "mutually acceptable" defense cost-sharing deal with the United States, though the allies might miss the end-of-year deadline, the top South Korean negotiator said Monday.Jeong Eun-bo, Seoul's chief negotiator for the Special Measures Agreement, made the remarks as he left for Washington to meet with his US counterpart, James DeHart of the State Department, for a fourth round of the negotiations slated for Tuesday through Wednesday (US time).The late

Foreign AffairsDec. 2, 2019

Samsung Heavy wins W187b order for 2 oil tankers

Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Monday it has won a 187.5 billion-won ($158 million) order to build a two ice-class oil tankers.Under the deal with a European shipper, Samsung Heavy will deliver two Aframax tankers by March 2022, the company said in a regulatory filing.  The vessels will be capable of operating safely even when colliding with ice of up to 70 centimeters at minus 30 degrees Celsius, according to the company. Samsung Heavy, considered on

IndustryDec. 2, 2019

White House says will refuse to take part in impeachment hearing

WASHINGTON (AFP) -- US President Donald Trump's attorney said on Sunday that the White House will not participate in congressional hearings set to begin this week that will consider passing impeachment articles against the president."We cannot fairly be expected to participate in a hearing while the witnesses are yet to be named and while it remains unclear whether the Judiciary Committee will afford the President a fair process through additional hearings," White House counsel Pat Cip

World NewsDec. 2, 2019

US beef imports at record high in Korea's imported beef market

Beef imported from the United States increased significantly to hit a share of over 50 percent of South Korea's imported beef market this year, a trade promotion agency said Monday.South Korea imported 209,034 tons of US beef in the January-October period, up 7.9 percent from 193,685 tons tallied during the same period a year earlier, according to data from the Korea International Trade Association.  US beef regained a share exceeding 50 percent of the total imported beef market here for th

IndustryDec. 2, 2019

'Still angry': Hong Kong protesters return to the streets

HONG KONG (AFP) -- Police fired tear gas and pepper spray in Hong Kong on Sunday as tens of thousands of black-clad protesters flooded into the streets, a week after pro-democracy candidates scored a landslide local election victory.The rally heralded an end to a rare lull and a return to the large-scale demonstrations that Hong Kongers have staged for nearly six months, fuelled by growing fears that authoritarian China is stamping out the city's liberties.It also marked a resumption of the incr

World NewsDec. 2, 2019

Victims of London Bridge attack lauded by their families

LONDON (AFP) -- British police on Sunday named the two victims who died in the London Bridge terror attack, as their families paid glowing tributes to the pair.Jack Merritt, 25, from Cambridgeshire in eastern England, and 23-year-old Saskia Jones of Warwickshire in the West Midlands, were both killed by convicted terrorist Usman Khan during his rampage Friday, the Metropolitan Police said.Merritt, a course coordinator at Cambridge University's criminology institute, and Jones, a volunteer, died

World NewsDec. 2, 2019

[Feature] ‘Due process ignored in deporting North Korean fishermen’

“Deeply concerned,” the Washington-based Committee for Human Rights in North Korea said in a statement Nov. 7, when South Korea had deported North Koreans for the first time since the 1953 Korean War armistice. The two North Korean fishermen were suspected of fleeing to the South on a fishing boat after killing 16 of their colleagues. South Korea’s Unification Ministry cited safety concern for the public in its decision to expell the North Koreans. The government’s

North KoreaDec. 2, 2019

S. Korea's Nov. consumer price growth turns positive

South Korea's consumer prices rose 0.2 percent on-year in November, marking the first gain in four months, the statistics agency said Monday.The consumer price index stood at 104.87 in November, compared with 104.71 for the same month last year, Statistics Korea said in a statement.The November reading was followed by zero growth in October and the first negative inflation rate in September that sparked fears of deflation.However, the November inflation rate was below market expectations. A surv

EconomyDec. 2, 2019

K-Pop stars introduce favorite sightseeing spots in Korea

A number of K-Pop stars joined a campaign to introduce attractions in Korea by taking videos of their favorite spots, aimed at giving travel tips to foreigners. The campaign is organized by Seo Kyoung-duk, a Sungshin Women’s University professor. The content, created by the K-pop stars, is shared on Korea Tourism Organization’s social media accounts, with translations in English, Chinese and Japanese. The campaign kicked off with two members of K-Pop group NU’EST, Min-hyun and

K-popDec. 1, 2019

[Newsmaker] Investigator believed to be involved in election-meddling row found dead

An investigator who worked at the presidential office was found dead Sunday, police said, amid a prosecution probe into alleged attempts by Cheong Wa Dae officials to influence last year's local elections.The official, who was dispatched to the civil affairs office from the prosecution, was found dead at an office in southern Seoul, according to police. The investigator reportedly left a note to his family before the death. Police said they are investigating to determine the exact cause of the d

Social AffairsDec. 1, 2019

Moon, new EU chief affirm joint efforts for Korea peace

South Korean President Moon Jae-in and European Commission President Ursula von der Leyen agreed in phone talks Sunday to work together to further develop ties between Seoul and the European Union and bring lasting peace to Korea, Cheong Wa Dae said.They "discussed the development of South Korea-EU relations and regional security conditions" during the phone session arranged at the request of "the European Union side," it said.The conversation came shortly after she was sworn

Foreign AffairsDec. 1, 2019

[Graphic News] 7 out of 10 South Koreans agree with efforts to resume Kumgangsan tours

　Seven out of 10 South Koreans are supportive of government efforts to resume a long-suspended inter-Korean tour program at Kumgangsan on North Korea‘s east coast, a recent poll showed, amid the North’s threat to end the cross-border project. 　According to the survey, conducted by the National Unification Advisory Council, 66.8 percent of the respondents said they either strongly agree or agree with efforts to resume the Kumgangsan tour by allowing individual visits or in-kind paymen

NationalDec. 1, 2019