Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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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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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Immigration policy must go beyond labor supply: experts
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Korea, China, Japan vow to address yellow dust and climate change
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Electronics retailors to enter EV market
Electronics retailers, including Lotte Himart and ETLand, are all set to sell electric vehicles and related products, according to industry sources Wednesday. They noted that the electronics goods distributor of retail giant Lotte Group is waiting for shareholders’ approval to enter the EV business. It plans to establish a firm to build a sales network for midsize EVs. CEOs of Lotte Himart and Korea Electric Power Corp. signed a memorandum of understanding to vitalize EV charging business on Tue
MobilityMarch 16, 2016
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China's premier says diplomacy can maintain regional stability
Chinese Premier Li Keqiang said Wednesday that "diplomatic means" can maintain regional stability, with tensions in Northeast Asia spiking over North Korea's nuclear test and rocket launch."It is up to regional countries to maintain stability and harmony," Li said in response to a question about North Korea's provocations and regional security issues. Li, speaking at a press conference at the end of the country's rubber-stamp parliament session, did not mention North Korea by name, but stressed
Foreign AffairsMarch 16, 2016
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China will strictly implement sanctions on North Korea: Chinese envoy
China's top envoy to Seoul said Wednesday that China will strictly implement new U.N. sanctions on North Korea, amid the communist country's recent threat to conduct a nuclear warhead test.Amb. Qiu Guohong made the remark during a lecture held at Korea University, denouncing Pyongyang for conducting its fourth nuclear test in breach of international obligations, as outlined by the U.N. Security Council."North Korea should pay the price for its own conduct," the Chinese envoy to South Korea said.
North KoreaMarch 16, 2016
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Coast Guard, Navy conduct interdiction drill on suspected ship
South Korea's Coast Guard and Navy successfully conducted an exercise off the southern port of Busan on Wednesday that checked their ability to intercept a North Korea-bound vessel loaded with banned cargo.The simulation drill was planned to effectively implement sanctions imposed by the United Nations Security Council and the South Korean government, following the North's fourth nuclear tests and long-range missile launch.The UN sanctions include the mandatory inspection of all cargo going in a
DefenseMarch 16, 2016
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North Korea sentences detained U.S. student to 15 yrs of hard labo
North Korea's highest court sentenced a detained U.S. student to 15 years of hard labor on crimes against the communist state, foreign news wire services reported Wednesday.Otto Warmbier, a 21-year-old U.S. university student, was arrested and detained by the North in January this year for allegedly conducting hostile acts against the regime.The court said the student attempted to steal a propaganda banner from a restricted area of his hotel, according to the Associated Press. There is no offici
North KoreaMarch 16, 2016
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Gender minister vows to eradicate child abuse in Korea
South Korea's Gender Minister Kang Eun-hee stressed Seoul's intent to work towards eradicating child abuse in the country at a United Nations meeting, the ministry said Wednesday.Kang vowed to implement a comprehensive policy to lower incidents of violence against children, which has been a nagging issue in South Korea, in her speech before the 60th session of the U.N. Commission on the Status of Women, the Ministry of Gender Equality and Family said.The number of child abuse incidents in the co
Social AffairsMarch 16, 2016
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Still 'Viva Las Vegas' for Elvis Presley? Less so lately
LAS VEGAS (AP) -- For decades, Las Vegas has loved Elvis Presley tender _ and loved him true _ but the King's presence in modern day Sin City has lately been diminishing, one impersonator at a time. "Vegas really is, ironically, a challenging market for Elvis," said Jack Soden, CEO of Elvis Presley Enterprises, which runs the Graceland attraction in Memphis, Tennessee, and manages many of the official business deals on behalf of the estate. The group had loaned hundreds of artifacts to a much-hy
CultureMarch 16, 2016
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Korean bobsleigh tandem wins nation's top amateur athlete award
World No. 1 South Korean bobsleigh duo won the grand prize at the nation's amateur athlete award ceremony on Wednesday for their solid performances last season.At the annual Coca-Cola Sports Awards in Seoul, the two-man bobsleigh team of Won Yun-jong and Seo Young-woo were honored with the MVP Award. The award has been given to amateur athletes since 1995.Pilot Won and brakeman Seo ended the 2015-2016 International Bobsleigh & Skeleton Federation season as the world's No. 1 pair after winning tw
More SportsMarch 16, 2016
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Ambassador says Korea revs up efforts to restore ties with Iran
South Korea is revving up efforts to "restore" economic ties with Iran as the resource-abundant Middle East state is generating fresh business opportunities after the lifting of international sanctions earlier this year, its top envoy to Tehran said Wednesday.During a meeting with reporters here, Kim Seung-ho said that South Korean government officials and businesses are striving to regain some of the lost ground in the increasingly competitive Iranian market with a population of 80 million. "In
Foreign AffairsMarch 16, 2016
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Kuroda says minus 0.5% rate is theoretically possible for Japan
The Bank of Japan has quite a lot of room to cut its key interest rate further and theoretically it could go to minus 0.5 percent, Governor Haruhiko Kuroda said in parliament Wednesday.While the BOJ kept policy unchanged on Tuesday, Kuroda underscored in a press conference a readiness to move on any of three fronts: a reduction in the present minus 0.1 percent rate, an acceleration in boosting the monetary base or an expansion in purchases of riskier assets.Questioned by a lawmaker in parliament
March 16, 2016
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LG CNS to build bus management system in Malaysia
LG CNS, an information technology solutions unit of LG Group, said Wednesday it has won a new deal in Malaysia to build a bus management system in Penang, the country’s third largest city. The 20 billion won ($16 million) project aims to incorporate the company’s own fleet management and auto fare collection solutions into some 400 buses that will start operating in August 2017. LG CNS has been expanding its presence in Malaysia with its smart transportation solutions. The company has participat
TechnologyMarch 16, 2016
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KOSCOM partners with Vietnamese stock exchange
Korea Securities Computing Corp. will team up with a major Vietnamese securities trading exchange to jointly develop financial information technology solutions for the Vietnamese capital market.The local financial IT solution provider said on Wednesday its CEO met with his counterpart of the Ho Chi Minh City Stock Exchange, or HOSE, to attend a signing ceremony of a memorandum of understanding between the two firms held a day earlier in Vietnam. “We hope that the MOU will pave the way for us to
March 16, 2016
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NPS steps up drive for alternative investments
Korea’s National Pension Service, which manages the world’s third-largest pension fund, is prepared to make its first investment in hedge fund of funds, or FoHF, seeking higher profits from alternative investments.The fund’s operation committee, led by the country’s health minister, previously decided to allocate a maximum of 0.5 percent of the total of 512.3 trillion won ($426.1 billion) for FoHFs early last year. However, a delayed appointment of a chief investment officer following an interna
March 16, 2016
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Kia Motors unveils Niro hybrid SUV
Kia Motors on Wednesday revealed its Niro hybrid subcompact SUV to the public on Wednesday and began receiving preorders.Equipped with a 1.6 GDI engine, coupled with a 32 kW motor system and six-speed dual clutch transmission, the Niro can produce up to 141 horsepower and a maximum torque of 27 kg-meters, the company said. Kia Motors’ latest hybrid SUV Niro (Yonhap)It also stressed that due to the strategic location of the battery below the second-row seats, the Niro has relatively larger luggag
IndustryMarch 16, 2016
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Korea's income inequality among top in Asia: IMF report
Korea's top 10 percent of income earners account for 45 percent of total earnings, the highest level among 22 countries in Asia measured by the International Monetary Fund (IMF), according to a March report seen on the institution's website on Wednesday.Income equality, as measured by the net Gini coefficient, rose in 15 of the 22 countries from 1990 to 2013, the report said, with sharp increases witnessed in countries with large populations such as China, India and Indonesia.For Korea, the Gini
March 16, 2016
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Oversupply, consumption drop hurt poultry market
Continuing oversupply of poultry has pulled down chicken prices to lowest in eight years and hurt related corporate profits, an institute report showed Wednesday.According to the findings by the Korea Rural Economic Institute, 966.96 million chickens were slaughtered last year, 9.2 percent more than the previous year.The slaughter has been increasing at an annual average of 7.8 percent since 1990, and such increase resulted in the chicken price hitting the lowest since 2007 in September last yea
IndustryMarch 16, 2016
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Galaxy S7 Edge more popular than S7 in Europe
Samsung Electronics's Galaxy S7 Edge, one of the Korean tech giant's latest two flagship smartphones, boasted higher than expected sales in Europe compared to its sister, industry sources said Wednesday.According to the sources, the Galaxy S7 Edge, which comes with a display that curves at both ends, accounted for 86 percent of the combined preorders for the latest flagship series in Europe. The figure compares to the 40 percent posted in Korea, they added. Samsung Galaxy S7 (Yonhap)Other source
IndustryMarch 16, 2016
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Hyundai Rotem bags 187 bln-won maintenance deal
Hyundai Rotem, a train-making affiliate of Hyundai Motor Group, said Wednesday that it has inked a 187 billion-won ($156.7 million) deal to maintain and repair subway cars in New Zealand.Hyundai Rotem signed the deal with France-based transit provider Transdev to take care of 166 subway cars in Wellington starting in July for 15 years. The Korean company supplied the vehicles in 2007 and 2013. Hyundai Rotem to maintain and repair subway cars in New Zealand (Yonhap)The firm said it will step up e
IndustryMarch 16, 2016
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SKT to build world’s first IoT-only network
SK Telecom on Wednesday announced a set of new plans to beef up the nation’s still nascent Internet of Things industry, including building a nationwide network dedicated only to IoT services.The plans come in line with the government’s new roadmap to nurture start-ups and new businesses related to IoT technology that connects all machines ranging from smartphones to home appliances and vehicles via the Web.Under the plans, Korea’s largest telecom carrier will build the world’s first nationwide n
IndustryMarch 16, 2016
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Lotte inks W600b sponsorship for 2018 Winter Olympics
Lotte Group is sponsoring 600 billion won for the 2018 Winter Olympics scheduled to take place in Pyeongchang, Gangwon Province in South Korea. Lotte struck a partnership agreement with the PyeongChang Olympics Organizing committee, in a ceremony held Wednesday at the Lakai Sandpine Resort in Gangneung, to become the biggest domestic official sponsor for the event.Under the deal, the retail conglomerate plans to sell various official Olympics merchandise, such as clothing, accessories and jewelr
IndustryMarch 16, 2016