Most Popular
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Korea to face another massive shortfall in tax revenue
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Photo news] Faker Mercedes
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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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'Shaman says president will die,' caller warns
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Korea's consumer prices rise 0.8% on-year in May
South Korea's consumer prices grew by less than 1 percent in May for the first time in four months, government data showed Wednesday.The country's consumer price index rose 0.8 percent last month from a year earlier, according to the data compiled by Statistics Korea.The index had stayed above the 1 percent level for three straight months since February for the first time in 17 months.From a month earlier, the May figure stayed flat.Core inflation, which excludes volatile oil and food prices, in
June 1, 2016
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Current account surplus sinks to 27-month low in April
South Korea's current account surplus dropped significantly from a month earlier in April as its surplus in the goods account narrowed, while the deficit in the service sector widened, central bank data showed Wednesday.The country's current account surplus came to $3.37 billion in April, plunging from a $10.09 billion surplus in the previous month, according to the Bank of Korea.April marked the 50th consecutive month of surplus.However, the April tally marked the lowest level since January 201
June 1, 2016
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N. Korea showing possible signs of reprocessing activity: 38 North
North Korea is showing signs that it is preparing or has already begun reprocessing spent nuclear fuel to harvest plutonium for nuclear weapons, a U.S. website monitoring the communist nation said Tuesday, citing recent satellite imagery.The assessment by the website 38 North is similar to that of the Institute for Science and International Security that last week cited as possible evidence of reprocessing activity the presence of container tanks in front of the reprocessing plant and smoke from
North KoreaJune 1, 2016
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Korean firms sign deals worth more than $41 mln with African partners
Several dozen South Korean companies have signed deals worth more than $41 million with African partners, mostly Kenyan firms, the presidential office Cheong Wa Dae said Wednesday.The deals were reached in a meeting between executives of 41 South Korean companies and more than 140 Kenyan firms and other firms from other African countries, including Nigeria and Mozambique in Nairobi on Tuesday.The business meetings were arranged on the occasion of South Korean President Park Geun-hye’s African to
June 1, 2016
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U.N. chief urges N. Korea to cease provocative actions
U.N. Secretary-General Ban Ki-moon urges North Korea to halt provocative actions, his spokesman said Tuesday, after the communist nation carried out an intermediate-range ballistic missile test in violation of U.N. resolutions."The secretary general's view on the DPRK is unchanged that Security Council resolutions and sanctions should be fully applied and that DPRK authorities should cease provocative actions," spokesman Stephane Dujarric said at a briefing in response to a question about the No
North KoreaJune 1, 2016
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Asset management firms' Q1 net jumps 56.8%
South Korea's 115 asset management companies posted a 56.8 percent on-year jump in first-quarter net profit largely driven by an increase in commission income, government data showed Wednesday. Their combined net profit for the three months ended March 31 soared to 138.8 billion won ($117 million) from 88.5 billion won a year earlier, the Financial Supervisory Service said in a statement."Institutional investors injected more of their capital into equity-linked funds offered by local asset manag
IndustryJune 1, 2016
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White House condemns N. Korea's latest missile test
The White House said Tuesday it strongly condemns North Korea's latest test of an intermediate-range ballistic missile, urging the communist regime to refrain from such provocations and focus on meeting its international obligations.Earlier Tuesday, the North attempted unsuccessfully to launch the Musudan ballistic missile believed to be capable of reaching the U.S. territory of Guam. Officials in South Korea said the missile is believed to have exploded on a mobile launcher as soon as the fire
North KoreaJune 1, 2016
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U.S. to use strategic talks with China to ensure pressure on N. Korea: Russel
The United States will use next week's annual strategic talks with China to ensure Beijing's cooperation in pressuring North Korea to agree to negotiate an end to its nuclear program, a senior State Department official said Tuesday.Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel made the remark during a briefing to preview the eighth session of the U.S.-China Strategic and Economic Dialogue (S&ED) set for early next week in Beijing."One of the things that we will an
North KoreaJune 1, 2016
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Kenya's president condemns N. Korea’s provocations
Kenyan President Uhuru Kenyatta has condemned North Korea’s provocative acts and vowed to faithfully enforce the U.N. sanctions on North Korea as he met with South Korea's President Park Geun-hye.North Korea is under the toughest U.N. sanctions ever over its fourth nuclear test and its long-range rocket launch earlier this year. Kenyatta condemned North Korea’s provocative acts that could heighten tensions in the region and urged North Korea to halt provocations. He also said Kenya will take nec
North KoreaJune 1, 2016
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Key Trump ally blasts Korea-U.S. FTA again
A key Donald Trump ally, who oversees his foreign policy, displayed deeply negative views of the U.S. free trade agreement with South Korea, saying the deal ended up increasing Korean exports to the U.S. The remark by Sen. Jeff Sessions (R-AL) reinforces concern that Trump, if elected to the White House, could seek to overhaul the pact, which has been in effect since 2012 and is considered a symbol of the economic alliance between the two countries.In an interview with Politico published Tuesday
Foreign AffairsJune 1, 2016
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U.S. STRATCOM confirms failure of N. Korea's IRBM test
The U.S. Strategic Command confirmed Tuesday that North Korea's latest test of an intermediate-range ballistic missile failed, saying the attempted launch did not pose a threat to North America.It was the North's fourth test of the Musudan intermediate-range ballistic missile believed to be capable of reaching the U.S. territory of Guam. Officials in South Korea said the missile is believed to have exploded on a mobile launcher as soon as the fire button was pressed."U.S. Strategic Command syste
North KoreaJune 1, 2016
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U.S. finance minister to visit Korea
U.S. Secretary of the Treasury Jack Lew will visit South Korea on June 2-4 to discuss ways to strengthen economic and financial cooperation between the two countries, the finance ministry here said Wednesday.During his trip, Lew will meet with his South Korean counterpart Yoo Il-ho on Friday, some two months after their last meeting in Washington in April.It is the first time in nearly 10 years that a U.S. finance secretary has visited South Korea to hold a ministerial meeting since then-Secreta
Foreign AffairsJune 1, 2016
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Top N. Korea official visits China in bid to mend ties
BEIJING (AFP) - A top North Korean official made a rare visit to China on Tuesday in an apparent attempt by Pyongyang to mend frayed ties with its powerful neighbour. China is North Korea‘s largest trading partner and has been its key diplomatic protector for decades. But relations have soured following Pyongyang’s internationally-condemned nuclear tests, with Beijing supporting UN sanctions against its isolated neighbour. The visit by Ri Su Yong, vice chairman of the North‘s ruling Workers’ Par
North KoreaMay 31, 2016
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Former chief of Oxy Korea indicted in toxic sterilizer probe
Prosecutors indicted a former chief of the South Korean unit of Oxy Reckitt Benckiser on Tuesday over the British firm‘s toxic humidifier sterilizers which resulted in numerous deaths and illnesses here. The Seoul Central District Prosecutors’ Office said it indicted Shin Hyun-woo over the snowballing case that has fueled public concerns over the safety of household chemicals. Third from left, former CEO of Oxy Korea Shin Hyun-woo (Yonhap) The 68-year-old, who headed the company between 1991 an
Social AffairsMay 31, 2016
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A palace walk with Hamlet, Jeongjo
In honor of the 400th anniversary of William Shakespeare’s death, Changdeokgung Palace opened its doors to a Hamlet-inspired Secret Garden tour on Sunday.“A Walk with Hamlet and Jeongjo,” a tour that is part of the annual series of performances of traditional music in Seoul’s royal palaces, features a recitation of the Shakespearean tragedy “Hamlet.” On Sunday, visitors listened to excerpts from “Hamlet” in unison with the tale of King Jeongjo while taking a brisk morning walk in Changdeokgung P
CultureMay 31, 2016
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Top N. Korean official makes surprise visit to China
Career diplomat Ri Su-yong, one of North Korea’s highest-ranking officials, arrived in Beijing on Tuesday in a surprise visit to China that appears to signal the North’s attempt to mend soured ties between the allies.A number of North Korean delegates led by Ri, vice chairman of the North Korean ruling party’s Central Committee and the director of the party’s International Department, arrived at the Beijing Capital International Airport amid tight security. Ri Su-young, vice chairman of the Nort
North KoreaMay 31, 2016
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[Graphic News] Overall average pay increases
The average monthly pay of full-time and part-time workers increased by 3.4 percent to 3.2 million won ($2,700), according to a government survey released on Monday. The survey, which was conducted by the Ministry of Employment and Labor on 25,000 businesses, excluding the agricultural industry, showed that the monthly pay of full-time workers increased by 3.6 percent to 3.4 million won, and the pay of part-time workers also increased by 2.1 percent to 1.4 million won. The industries with the hi
IndustryMay 31, 2016
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Rise and fall of Korean shipbuilding tycoon
The founders of many South Korean conglomerates have led dramatic lives, with resemblance to the domestic economy rising fast from the ashes of the Korean War.One thing that the business tycoons have in common is the culture of pursuing fast growth, which has contributed to the nation’s rapid rise. Their growth obsession, however, sometimes ends in tragedy. The latest conglomerate leader to suffer a freefall is STX Group founder and former chairman Kang Duk-soo. Former STX Group chairman Kang Du
IndustryMay 31, 2016
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Young start-up acquires 50-year-old B&W
In an unusual development, a well-established company with a history of half a century was acquired early last month by a 2-year-old small start-up.Normally well-established companies acquire smaller firms, not the other way around. However, in this case, the start-up Eva Automation -- with a staff of 50 people in Silicon Valley -- took over the British audio company Bowers & Wilkins that has 1,100 employees.Eva Automation is a specialized audio and video systems firm that is yet to release any
IndustryMay 31, 2016
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YG inks deals with Chinese online giants
YG Entertainment has jump-started its expansion into China, forming financial partnerships with online giants there and collaborating with them on variety shows. The entertainment agency that houses K-pop superstars Big Bang and Psy, among others, announced its partnership with China’s leading online and mobile ticketing company Beijing Weiying Technology Co. and the online video platform of Tencent, China’s most-used Internet service portal, at a ceremony at Grand Hyatt Seoul on Tuesday. The fi
PerformanceMay 31, 2016