Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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Korea's first global webtoon festival lights up Seongsu-dong
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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S. Korea to concentrate on military buildup against N. Korea's nuke, missile threats
South Korea's future military buildup will focus on countering North Korea's asymmetric military power, a shift from the current conventional warfare-focused armament, Defense Minister Han Min-koo said Wednesday.The military "will have a paradigm shift in a way that military armament against North Korean asymmetric threats such as nuclear weapons and missiles is secured foremost," Han said in a lecture given at a forum held by cable news broadcasting station Channel A.South Korea has so far focu
DefenseMay 4, 2016
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Park: S. Korea, Iran can work together toward N. Korea's denuclearization
President Park Geun-hye said South Korea could work with Iran to try pushing North Korea to abandon its nuclear weapons program.Iran maintains traditional friendly ties with North Korea and the two countries have long been suspected of cooperating in missile and nuclear programs.Still, Iranian President Hassan Rouhani voiced his country’s opposition to nuclear development on the Korean Peninsula in a news conference on Monday after his summit with Park in Tehran, in an apparent reference to Nort
Foreign AffairsMay 4, 2016
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Public in favor of banned swimmer in Olympics
Through surveys and social media this week, South Koreans have been showing their support for beleaguered swimmer Park Tae-hwan, who is hoping to get his Olympic ban lifted.A survey by local pollster Realmeter showed Tuesday that 70.9 percent of South Koreans would like to see Park race at the 2016 Summer Games in Rio de Janeiro in August.Park, who recently served an 18-month doping suspension, remains ineligible to make the national team under a controversial rule by the Korean Olympic Committe
SportsMay 4, 2016
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Satellite imagery shows N. Korea actively pursuing SLBM development: 38 North
Recent satellite imagery shows North Korea is forging ahead with development of a submarine-launched ballistic missile, the website 38 North said Tuesday.The imagery taken of the North's Shinpo Shipyard on April 29, six days after the North's latest SLBM test, shows that a submersible missile test stand barge has been moved from its normal position."This shift in location suggests that the SLBM program may be moving towards a more advanced stage of development where the need for a submersible te
North KoreaMay 4, 2016
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[Market Now] Tongyang fails to buy Sambu’s unit
Ready-mix concrete and other construction materials maker Tongyang Inc. said Wednesday that it has failed to acquire construction materials manufacturer Sambu Construction Industrial.The company said in a public filing that “the main bid to purchase shares of Sambu Construction Industrial failed.”Sambu Construction Industrial is 99 percent owned by Sambu Construction Co., which is currently under court receivership. Earlier in March, Tongyang had submitted a letter of intent to take over Sambu C
May 4, 2016
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Park arrives in Korea after groundbreaking trip to Iran
President Park Geun-hye arrived in Seoul on Wednesday after a landmark state visit to Tehran focused on boosting bilateral economic cooperation with the resource rich country that is striving to generate growth through infrastructure investment.The visit -- the first by a South Korean president in more than half a century -- represented South Korea’s efforts to tap into business opportunities in Iran, which has emerged as a promising market in recent months following the lifting of international
PoliticsMay 4, 2016
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Sherman calls for discussions on N.K. contingencies
The United States, South Korea and other regional powers should launch discussions about how to handle potential contingencies in the North, such as a regime collapse or a coup, former U.S. Under Secretary of State Wendy Sherman said Tuesday.Sherman, considered a key foreign policy brain for Democratic presidential front-runner Hillary Clinton, made the remark during a discussion at the Center for Strategic and International Studies, stressing that China's preferred status quo on the Korean Peni
North KoreaMay 4, 2016
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U.S. to pursue sanctions on N. Koreans for human rights abuses: Russel
The United States is determined to identify and sanction those responsible for human rights abuses in North Korea, the top U.S. diplomat handling Asian affairs said Tuesday.Daniel Russel, assistant secretary of state for East Asian and Pacific affairs, made the remark during a discussion at the Center for Strategic and International Studies, noting that the latest executive order President Barack Obama issued in March to punish the North calls for sanctions on the North's human rights violators.
World NewsMay 4, 2016
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Korea's foreign exchange reserves gain $2.64 bln in April
Korea's foreign exchange reserves continued to increase in April on a rise in overseas securities and deposits, the central bank said Wednesday.As of the end of last month, the country's foreign exchange reserves came to $372.48 billion, up $2.64 billion from the previous month, according to the Bank of Korea (BOK). Bank of Korea (Yonhap)April marked the second consecutive month the country posted on-month growth in its foreign exchange reserves, following four consecutive months of decline.Fore
May 4, 2016
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Hyundai, Kia see April sales in China up first time this year
Hyundai Motor and its smaller affiliate Kia Motors saw their sales in China grow for the first time this year in April, raising prospects that their prolonged slump in the world's largest market might be easing, industry data showed Wednesday.The two Korean carmaking giants sold a combined 146,722 cars last month in China, up 1.8 percent from a year earlier, according to the data obtained by the English-language division of Yonhap News Agency.The figures could be adjusted later as they are preli
MobilityMay 4, 2016
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Foreign shares in Samsung Electronics rebound to over 50%
The combined foreign stake in Korea's top tech giant Samsung Electronics exceeded 50 percent this week, the bourse operator said Wednesday, apparently as the firm posted better-than-expected earnings for the first quarter.According to the data compiled by Korea Exchange (KRX), overseas investors accounted for 50.41 percent of the combined shares in Samsung Electronics as of Monday, marking the first time since December that the number moved above 50 percent. It increased to 50.44 percent on Tues
TechnologyMay 4, 2016
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[Market Now] Cosmetic shares rise on solid earnings
Shares of cosmetics firms started off strong Wednesday morning as investors seemed to have shown confidence in their solid first-quarter earnings, an analyst said.Korea’s top cosmetics-maker AmorePacific Corp. rose 1.56 percent to trade at 422,500 won ($366) as of 10:12 a.m. The nation’s No. 2 producer of beauty products LG Household & Health Care gained 1.07 percent to 1,037,000 won as of 10:14 a.m.“First quarter earnings were good in the cosmetics industry. Cosmetics firms are expected to cont
May 4, 2016
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Survey says companies feeling bigger pinch from taxes
A majority of companies estimate increased corporate taxes this year from last year and expect to pay more when new tax codes become effective in 2017, a survey said Wednesday.Responses drawn by the Federation of Korean Industries, in its survey of 200 company officials in charge of tax filings, said 61.5 percent reported higher corporate taxes this year than last. Another 67 percent said they see taxes rising next year under new codes that reduced allowed write-offs for carryover business losse
May 4, 2016
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[Market Now] Hyundai Rotem seeks to supply trains to Iran
Hyundai Rotem, a Korean manufacturer of railway systems, said Wednesday that it was seeking to sell its diesel multiple unit trains to the state-owned Iranian railway company.In a public filing, the company said it has signed a memorandum of understanding with Iranian Islamic Republic Railways to sell 150 DMU trains.The two sides will proceed with further discussions on the conditions of the sales and related technologies.Hyundai Rotem is owned by the nation’s top automaker Hyundai Motor, which
IndustryMay 4, 2016
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Korean shares open weaker on cars, steels
Korean stocks started weaker Wednesday following losses from carmakers and steelmakers.The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.06 points, or 0.36 percent, to 1,979.35 in the first 15 minutes of trading.Carmakers kicked off bearish, with No. 1 Hyundai Motor falling 1.05 percent and its sister Kia Motors moving down 0.95 percent. Top auto parts maker Hyundai Mobis shed 0.58 percent.Leading steelmaker POSCO shed 1.96 percent and Hyundai Steel moved down 2.3 percent. Korea Zin
May 4, 2016
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China says 'no information' on pastor found dead near N. Korea border
China's foreign ministry said Tuesday it had "no relevant information" about a Chinese pastor who was found dead three days ago near the sensitive border with North Korea. The Chinese pastor, who is an ethnic Korean and only identified by his surname Han, was found dead on a hill on Saturday evening in Changbai county in Yanbian, according to a source with knowledge of the matter there. Han is said to have supported North Korean defectors since 1993. Choi Sung-yong, a South Korean activ
Foreign AffairsMay 3, 2016
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Suwon eliminated from AFC Champions League despite win over Shanghai
South Korean club Suwon Samsung Bluewings were eliminated from the Asian Football Confederation (AFC) Champions League Tuesday despite a 3-0 victory over Shanghai SIPG in their final group match. In rainy and windy conditions at Suwon World Cup Stadium in Suwon, south of Seoul, the hosts routed group winners Shanghai, thanks to a double by forward Kim Gun-hee. The K League Classic club finished their Group G campaign at nine points with two wins, three draws and a loss, tied with Melbourne Vi
SoccerMay 3, 2016
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S. Korea big 'potential market' for Hollywood
Hollywood is banking on the Korean film industry since it has big potential with abundant stories derived from the nation's "incredibly rich" history and many talented people, the head of a Hollywood film studio said Tuesday. "The modern Korean filmmaking probably in 1999 saw the first big superhits happening in Korea. And it's still growing every year, which is phenomenal," Tomas Jegeus, president of Fox International Productions, said during a press conference to promote "Goksung," the lates
FilmMay 3, 2016
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Gov't to conduct full-scale probe into biocides
South Korea's government said Tuesday it will conduct a nationwide investigation into all biocides circulated in the country amid growing public outcry against the South Korean unit of the British consumer product firm Oxy Reckitt Benckiser. Oxy is currently being probed by state prosecutors over its toxic humidifier sterilizers that have been cited for causing many deaths and illnesses. The Ministry of Environment said it will establish a formal management system to prevent similar incident
Social AffairsMay 3, 2016
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U.N. office chief calls for strong response to N.K. human rights abuses
The head of a U.N. office on North Korean human rights urged the international community Tuesday to take strong action against what she said amounts to crimes against humanity in the communist country. Signe Poulsen, representative of the Seoul office of the U.N. High Commissioner for Human Rights, made the appeal in a forum here, saying the international community cannot overlook what it has already recognized as serious human rights abuses in the North. She was referring to a U.N. Commissi
North KoreaMay 3, 2016