Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Suicide attempts spike among youth in Korea
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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Delta Air Lines to launch new Incheon-Salt Lake City route in June next year
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Korea, China, Japan vow to address yellow dust and climate change
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Trade ministers of S. Korea, China hold talks in Beijing
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7-in-10 South Koreans willing to fight if war breaks out
Seven out of 10 South Koreans are willing to fight for the country if a war breaks out, with those in their 50s showing the strongest intention to take up arms, a government poll said Wednesday.According to the survey by the Ministry of Patriots and Veterans Affairs, 72.1 percent of the respondents said they are willing to go to war if one like the 1950-53 Korean War erupted.The opinion survey was conducted in November last year on 1,000 men and women aged 15 and older, randomly selected from ac
Social AffairsMarch 30, 2016
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Beer imports hit all-time high
Beer imports to Korea hit a record high in 2015, with a growing number of Korean consumers turning to low alcohol beverages and seeking diversity, data showed Wednesday.According to the Korea Agro-Fisheries and Food Trade Corporation, Korea imported 170,919 tons of beer worth $141.9 million last year, a 43 percent increase in volume and a 27 percent increase in value of beer imports from the previous year.The most popular imported beer was from Japan, which exported 46,244 tons to Korea in 2015,
IndustryMarch 30, 2016
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Xiaomi files patent for Xiaomi Pay in Korea
Chinese electronics firm Xiaomi is ramping up efforts to infiltrate the Korean market, the home turf of tech giants Samsung Electronics and LG Electronics.Xiaomi’s budget air purifiers and ultra-high definition TVs are poised to hit the domestic market this week. The Chinese company has also filed a patent for its mobile payment service Xiaomi Pay -- also known as Mi Pay -- in Korea. Lei Jun, the chief executive of Chinese electronics firm Xiaomi. (Yonhap)There is speculation that Xiaomi’s upcom
TechnologyMarch 30, 2016
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Korea struggles to reverse decline in exports
Korea has seen its exports declining for 14 months in a row since January last year. The record streak of on-year monthly decrease -- with double-digit figures for the December-February period -- has amplified concerns over the slowing growth of Asia’s fourth-largest economy heavily reliant on exports.What is being closely watched for is official trade data for March, which is set to be released by the government Friday. Trade Minister Joo Hyung-hwan (Yonhap)With the country’s outbound shipments
March 30, 2016
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Korea won‘t be top seed in final World Cup qualification round
South Korea will not be a first seed in the final Asian qualifying round for the 2018 FIFA World Cup as their international ranking next month is expected to be lower than their Asian counterparts. The lineup for the third round of Asian qualifiers was finalized Tuesday as 12 countries have confirmed their spots. South Korea have qualified as the winner of Group G, marking a perfect record of seven wins in the previous round. The national football team has scored 24 goals and conceded none. For
SoccerMarch 30, 2016
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Overseas voting kicks off for Korea‘s parliamentary elections
South Koreans living outside of the country began casting their ballots for the April 13 general elections Wednesday.The overseas vote for the parliamentary elections kicked off as the first polling station opened in Auckland, New Zealand at 8 a.m. local time, followed by one in Sydney, Australia.The six-day run will be conducted in 198 polling stations in 113 countries worldwide, according to the National Election commission. "By 11 a.m., 23 people cast ballots, including 17 to 19 people in the
PoliticsMarch 30, 2016
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Seoul to develop guided munitions to counter Pyongyang‘s multiple rocket launchers
South Korea plans to develop ground-to-ground GPS-guided munitions to better fend off threats posed by North Korea's latest multiple launch rocket systems, the Ministry of National Defense said in its five-year defense plan on Wednesday.North Korea's MLRS has emerged as one of the most imminent security threats facing South Korea since the communist country announced what it claimed was the final test of a new high-caliber multiple rocket launcher earlier in the month.With a range of 200 kilomet
DefenseMarch 30, 2016
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Seoul sees slim chance Pyongyang nuke test can trigger volcanic eruption
South Korea sees a slim chance that additional North Korean nuclear tests would trigger a volcanic eruption of Mount Paekdu, a North Korean mountain situated close to the country's underground atomic test site, government sources said Wednesday.Seoul's assessment came amid speculation that North Korea may conduct another nuclear test soon in defiance of stronger U.N. sanctions over the North's latest nuke and missile provocations.The government has recently held a series of seminars to study the
North KoreaMarch 30, 2016
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Quarter of college students willing to work in N. Korea
More than a quarter of South Korean college students are willing to work in North Korea after reunification if they could get a job there, a local poll showed Wednesday.According to the poll conducted by a research center at Seoul's Kookmin University on 1,004 students, more than 25 percent said they are willing to work in the North.The survey was based on 731 freshmen and 273 students in their second to fourth years.Sophomore, junior and senior students were more favorably inclined to working i
Social AffairsMarch 30, 2016
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Global handset sales fell in Q4
Worldwide combined sales of handsets fell on-quarter in October-December 2015, data showed Wednesday. According to data compiled by industry tracker Strategy Analytics, the global sales of handsets, including smartphones, shed 1 percent in the fourth quarter from the previous quarter. It marked the first time in more than two years for a quarterly figure to record on-quarter decline.Industry watchers attributed the drop, the first in 10 quarters, to the sharp fall in the production of traditiona
IndustryMarch 30, 2016
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Savings banks increase net profit
Local savings banks earned the highest net revenue in four years in 2015 from the wide spread between deposit and loan interest rates, the financial regulator’s data showed on Wednesday.The combined net profit of 79 savings banks came to 2.499 trillion won ($2.16 billion) last year, up 24 percent on-year, according to the Financial Supervisory Service. This marks a notable comeback in four years for the industry that had boomed to a near 3 trillion-won revenue in 2011 but went downhill following
March 30, 2016
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Korean shipyards hit by decline in new orders
Korean shipyards hit by decline in new ordersFrom news reportsConcerns are rising in Korea‘s shipbuilding industry as the nation’s major shipbuilders have failed to win new orders in the first quarter of this year, industry watchers said Wednesday.The lackluster performance is showing how severe the industry is suffering from the protracted slump in the global shipbuilding sector, they said.Global shipbuilding giants -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsu
March 30, 2016
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[Photo News] LG G5 hits Korean market
LG G5 HITS KOREAN MARKET -- LG Electronics said Wednesday that its flagship smartphone G5 will soon hit 200 global markets, starting from Korea on Thursday. LG’s first modular phone, priced the same as Samsung Electronics’ 32-gigabyte Galaxy S7 at 836,000 won ($723), is compatible with the LG Friends lineup that includes a 360-degree camera and a portable audio system. (LGE)
TechnologyMarch 30, 2016
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Kia Motors‘ U.S. factory rolls out 2 millionth car
The Kia Motors factory in the United States on Tuesday celebrated the production of its 2 millionth vehicle since opening in 2009.With the production of a white Sorento SUV, the factory in the state of Georgia hit the 2-million mark in the shortest time ever for an overseas Kia factory. Kia Motors’ celebrates the production of its 2 millionth vehicle on Tuesday. (Yonhap)The factory began mass production in November 2009 and now produces more than 40 percent of all Kia vehicles sold in the U.S.T
IndustryMarch 30, 2016
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Hyundai, Kia cuts incentives to U.S. dealers
Hyundai Motor and Kia Motors paid less incentives to their dealers in the United States in a move interpreted as an effort to improve their profitability, a report showed Wednesday.According to a report by TRUECar.com, an auto-focused website in the U.S., Hyundai Motor paid an average of $1,945 to dealers in incentives per car sold in February this year, reflecting a 9.9 percent decline from a year earlier. Kia Motors’ incentive payments dropped 4 percent to $2,815.Dealers are given incentives b
IndustryMarch 30, 2016
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Seoul stocks open higher on Yellen‘s comments
South Korean share prices opened higher Wednesday as investors were calmed by comments from the U.S. Federal Reserve chief Janet Yellen that ruled out an immediate rate hike.The benchmark Korea Composite Stock Price Index rose 9.78 points, or 0.49 percent, to 2,004.69 in the first 15 minutes of trading.The index was trading 0.55 percent higher at 2005.97 as of 9:55 a.m. On Tuesday, Yellen said at an economic club meeting in New York that she considers it “appropriate” for the Fed’s rate setting
March 30, 2016
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N. Korea may be trying to develop new medium-range solid-fuel missile
North Korea's recent test of a solid-fuel rocket engine suggests that the communist nation may be trying to develop a new two-stage missile similar to its Rodong medium-range ballistic missile, a U.S. expert said Tuesday.The North claimed last week that the country successfully conducted a ground test of a solid-fuel rocket engine, with leader Kim Jong-un saying that the test "helped boost the power of ballistic rockets capable of mercilessly striking hostile forces."The North also released phot
North KoreaMarch 30, 2016
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U.S. urges N. Korea to tone down rhetoric
The United States urged North Korea on Tuesday to tone down its bellicose rhetoric after Pyongyang's top diplomat threatened the communist nation is ready to launch a preemptive nuclear strike against the U.S.Foreign Minister Ri Su-yong made the threat in an interview with Russia's Itar-Tass news agency published on Monday, saying the country "placed its army into the state of its readiness to deliver a preemptive nuclear strike in response to the U.S. hostile activities."It was the latest in a
North KoreaMarch 30, 2016
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Pressuring N. Korea to top Obama‘s trilateral summit with Park, Abe
Pressuring North Korea with sanctions will be the No. 1 topic for a trilateral summit that U.S.President Barack Obama is scheduled to hold with South Korean President Park Geun-hye and Japanese Prime Minister Shinzo Abe this week, a top American diplomat said Tuesday.The three leaders are scheduled to hold the three-way meeting Thursday on the sidelines of the Nuclear Security Summit in Washington. The meeting comes as Pyongyang has been ratcheting up tensions with threats of attacks, claims of
North KoreaMarch 30, 2016
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[Market Now] Hanwha Techwin selected preferred bidder for Doosan DST
Hanwha Techwin, a listed defense manufacturer, has been chosen as the preferred bidder for Doosan DST, according to local news reports.Hanwha Techwin was said to have offered around 700 billion won ($600 million) for a 100 percent stake in Doosan DST owned by Doosan Group’s special purpose company DIP Holdings and private equity partners -- IMM and Mirae Asset.Hanwha had closely competed with LIG Nex1 over DST, which was put on sale by Doosan last year as the group was facing a liquidity shortag
March 30, 2016