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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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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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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Defense minister to attend regional summit to discuss NK nuclear, regional issues
South Korea's defense chief will leave for Singapore early next month to attend a regional security meeting where he will exchange views on North Korea's nuclear provocation and other mutual issues, Seoul's officials said Wednesday.Defense Minister Han Min-koo will join the Asia Security Summit to be held from June 3-5 in Singapore, according to the defense ministry. The summit, also known as the Shangri-La Dialogue, is an annual security meeting organized by the International Institute of Strat
DefenseMay 25, 2016
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PM calls for measures to bolster safety for women in wake of Gangnam stabbing
Prime Minister Hwang Kyo-ahn on Wednesday said the country will come up with measures to better protect women and vulnerable citizens from crimes, as the recent stabbing of a female in southern Seoul sparked a public outcry for more security."I am saddened by the fact an innocent citizen was killed in a cruel crime," Hwang said, urging prosecutors and police, as well as gender and welfare ministries to come up with plans that can boost public safety.Last week, a 34-year-old man killed a 23-year-
Social AffairsMay 25, 2016
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Steel industry speeds up restructuring
South Korea’s steel industry is speeding up restructuring amid growing concerns over chronic oversupply in the sector, according to local news reports Wednesday. The reports said the Korea Iron & Steel Association -- whose members include all the major steel firms -- recently hired Boston Consulting Group to make a report on the steel industry’s restructuring measures. The report will reportedly include how to address chronic oversupply of the nation’s three largest steelmakers -- POSCO, Hyundai
IndustryMay 25, 2016
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LG Chem named top eco-friendly energy company
LG Chem, the chemicals and battery unit of LG Group, said Wednesday that it has been named a top environment-friendly energy company by a consultative body of energy ministers from 23 countries. The Clean Energy Ministerial, which discusses the development of clean energy sources and their wider adoption, will hold the awarding ceremony of its first Energy Management Leadership Award in San Francisco next month on the sideline of their seventh meeting. The award aims to honor companies for their
TechnologyMay 25, 2016
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IMF team to visit Seoul for annual meeting
A team of officials from the International Monetary Fund will visit South Korea this week to assess its economic conditions and exchange opinions on economic, financial and fiscal policies, the finance ministry said Wednesday.During its stay, which will last until June 8, the IMF delegation will meet with the nation's key financial and economic policymakers from the finance ministry, the central bank and the Financial Services Commission, the ministry said. It will also visit major public and pr
May 25, 2016
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Rights watchdog to recommend government tighten corporate ethics
The state human rights watchdog on Wednesday said it will recommend the government require state-funded corporations to consider a human rights factor in their operations, a move to shore up corporate ethics. The decision came amid the prosecution's sprawling investigation into the toxic humidifier disinfectant case that sparked intense criticism against businesses that churn out products despite their potential health risks. National Human Rights Commission of Korea (Yonhap)In the wake of the
IndustryMay 25, 2016
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China weakens yuan fixing to lowest since 2011
China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened.The reference rate was lowered by 0.3 percent to 6.5693 per dollar. A gauge of the dollar’s strength rose to a two-month high Tuesday as traders boosted wagers that U.S. interest rates will rise. The yuan weakened 0.1 percent to 6.5636 in a third day of losses as of 10:27 a.m. in Hong Kong.A resurgent greenback is shaking up a strategy that the People’s Bank of China pursued over the past
World BusinessMay 25, 2016
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Korea to buy weaponry worth 3.5 tln won this year
South Korea's defense procurement agency said Wednesday it plans to import arms worth about 3.5 trillion won ($3 billion) this year in a bid to enhance its defense capabilities.South Korea plans to spend about 9 percent of this year's defense budget of 38.8 trillion won to buy weaponry from overseas, according to the Defense Acquisition Program Administration.It said the government plans to spend an average of 3.5 billion won per contract to import weapons from foreign suppliers.Amid North Korea
DefenseMay 25, 2016
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LG’s water purifier sales surge 50% in India
LG Electronics said Wednesday its water purifier sales in India soared 50 percent in the first quarter compared to a year ago, but did not reveal specific sales figures. LG entered India’s water purifier market in July 2014 -- the first time for a Korean company to do so -- tapping the nation’s burgeoning middle class who had complained about the poor condition of drinking water. A customer talks with a sales person about LG Electronics’ water purifier at a store in India. (LG Electronics)With i
TechnologyMay 25, 2016
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Samsung hints at counter-suit against Huawei over patent
South Korean top tech giant Samsung Electronics Co. hinted Wednesday that it may take a counteraction against Huawei Technologies Co. after the Chinese company launched lawsuits claiming Samsung's infringement of its patents.Earlier, the Chinese firm brought two suits against the world's top smartphone maker in the U.S. state of California and the Chinese city of Shenzen, seeking compensation for the alleged unlicensed use of 4G technology.Huawei, the world's third-largest smartphone maker, clai
IndustryMay 25, 2016
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Huawei files lawsuits accusing Samsung of violating patents
Chinese tech giant Huawei said Wednesday it has filed patent infringement lawsuits against South Korean mobile phone rival Samsung in the United States and China, in a case that highlights the rise of Asian competitors as technology creators.Huawei Technologies Ltd. said it wants “reasonable compensation” but gave no financial figure for its claim against Samsung Electronics Ltd. Huawei smnartphones (Yonhap)Huawei is a leading maker of network switching gear used by phone companies and launched
IndustryMay 25, 2016
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CrucialTec, Kona-I introduce biometric credit card
Fingerprint module maker CrucialTec and smart card firm Kona-I said Wednesday that they have developed a plastic card fitted with a fingerprint module, which the partners said would help beef up the security of financial transactions.The credit card will allow users to directly identify themselves by scanning their fingerprints on the biometric module installed in the 0.84-millimeter plastic card.Fingerprint module maker CrucialTec and smart card firm Kona-I roll out a credit card installed with
TechnologyMay 25, 2016
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[Photo News] Samsung VR at Humanitarian Summit
Korean Ambassador to Turkey Cho Yoon-su wears Samsung Electronics’ Gear VR headset at the World Humanitarian Summit in Istanbul on Tuesday. The Korean tech giant also signed a memorandum of understanding with the U.N. Population Fund during the two-day summit to offer supersonic medical equipment, worth $150,000, to support Syrian refugees in the country. (Samsung Electronics)
TechnologyMay 25, 2016
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KT teams up with local firms to develop IoT bicycle
Network operator KT has joined forces with four local companies to grow the sector for connected bicycles, the company said Wednesday.The network firm and its four partners -- bike-maker Alton Sports, credit card firm BC Card, security firm KT Telecop, and insurance firm Dongbu Insurance -- signed a memorandum of understanding for the initiative in Seoul on the day.They will develop a solution that tracks down the locations of the so-called Internet-of-Things bicycles equipped with alarm sensors
TechnologyMay 25, 2016
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Sexually abusive dad gets 5 yrs in prison
A 47-year-old man was given a five-year prison term on Tuesday for sexually abusing his underage daughter for seven years since she was 10. The daughter had reported her father’s abuse to the authorities. According to her testimony, the father first made inappropriate physical contact in the summer of 2009 in the backseat of his car. In autumn of the same year, he forcefully “checked whether she was pregnant.” On another occasion, he made her sit on his lap while he watched pornography. This is
Social AffairsMay 25, 2016
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S. Korea denies report of unification minister's possible visit to Japan
South Korea's unification ministry on Wednesday denied a Japanese report that Seoul's top point man on unification is likely to visit Japan early next month to exchange views about North Korea with officials there.Japan's Asahi Sinmun newspaper reported that Seoul is adjusting the schedule of Unification Minister Hong Yong-pyo to push for his visit to Japan in June. The Korean government hopes that Hong may have meetings with Japanese Prime Minister Shinzo Abe and Tokyo's top diplomat Fumio Kish
North KoreaMay 25, 2016
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Air Force website experiencing problems due to hacking
South Korea’s Air Force website has been experiencing problems for 13 days due to an unidentified hacking attack, local officials said Wednesday.An official said the Air Force suspended its website operations from the early morning of May 12 when malicious code was found in it.The Air Force is currently operating a temporary website to provide public services such as information on conscription and other notices that affect the public.The armed forces branch and the military’s Cyber Warfare Comm
DefenseMay 25, 2016
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Korea, China to discuss nuclear energy partnership
Korea and China will hold high-level talks this week on nuclear energy cooperation, the government said Wednesday.The bilateral Nuclear Power Joint Committee meeting, the 13th of its kind, is scheduled to open in Beijing on Thursday.In the two-day session, Korea will be represented by Hong Nam-ki, vice minister of science, ICT and future planning. His Chinese counterpart is Xu Dazhe, the director of the China Atomic Energy Authority. Other government officials and civilian experts will join the
Diplomatic CircuitMay 25, 2016
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Cargo handling at seaports down 1.2 pct in April
The amount of cargo processed at Korea's seaports slipped 1.2 percent in April from a year earlier due to a drop in the transport of soft coal and vehicles, the government said Wednesday.The volume of cargo handled at six seaports came to 119.32 million tons last month, according to the Ministry of Oceans and Fisheries. Busan Port (Yonhap)The ministry attributed the decreased volume to the decreased shipping of soft coal and cars amid the global economic slowdown. Chemical shipments at the ports
May 25, 2016
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Contingent liabilities in securities firms jumped 22 pct last year
Contingent liabilities in Korean securities companies jumped 22 percent in 2015 compared to a year earlier, raising worries about their financial soundness, government data showed Wednesday. Contingent liabilities in local securities firms reached 24.226 trillion won ($20.38 billion) last year, up from 19.891 trillion won a year earlier. A contingent liability is a potential liability. It depends on a future event occurring or not occurring. For example, if a brokerage company guarantees an asse
May 25, 2016