Most Popular
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Opposition mulls delay of financial investment income tax
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Immigration policy must go beyond labor supply: experts
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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KMA chief under pressure after surveyed doctors refuse to back him
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Meditation brings calm to Gwanghwamun
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KT and Microsoft to develop AI models for Korea
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U.S. denies link between THAAD, N.K. sanctions
The U.S. stated Monday that there is “absolutely no connection” between the ongoing international move to place strong sanctions on North Korea and its consultation with South Korea for deployment of its advanced missile defense system here. The statement echoed the Seoul government in saying that stationing the Terminal High Altitude Area Defense missile system on the peninsula to counter North Korean threats was an issue of security, and is not related to the recent Washington-Beijing cooperat
North KoreaMarch 1, 2016
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Korea's exports decline for 14th straight month
Pinched by weak overseas demand and low oil prices, South Korea’s exports plummeted 12.2 percent in February compared to the same month a year before, continuing the double-digit fall trend for the third straight month. The country’s overall outbound shipments tumbled to $36.4 billion last month from $41.5 billion in the same month last year, according to a monthly trade report by Ministry of Trade, Industry and Energy on Tuesday.The February figure showed a slight improvement from January’s 18.
March 1, 2016
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[Newsmaker] Republicans badly split over Trump
On the eve of Tuesday's crucial multi-state primaries, a sharp new divide erupted between Republicans who pledge to fall in line behind Donald Trump if he wins their party's nomination and others who insist they can never back the bombastic billionaire.The fissure could have major implications beyond the primaries, exposing the looming challenges in uniting the party, no matter who wins the nomination. (Bloomberg)Trump has won three of four early nominating contests, roiling a party that had ass
World NewsMarch 1, 2016
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Park: N.K. won't survive with nukes
President Park Geun-hye on Tuesday vowed to increase pressure on North Korea to abandon its nuclear ambitions and provocations, underlining that the Korean Peninsula’s peace and independence depends on denuclearization.The speech, delivered on the nation’s Independence Movement Day, reflected the president’s drive to put the North Korean dilemma at the top of the agenda, above all other pending issues.(Yonhap)“The spirit of the March 1 movement was to promote the unity and independence of our pe
PoliticsMarch 1, 2016
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Chinese tourists spending more in Seoul thanks to instant tax refunds
Chinese tourists in South Korea spent more in the country following the introduction of an on-the-spot tax refund system, local data showed Tuesday.Since February, South Korean department stores offered instant tax refunds to foreign tourists who buy products at local duty-free shops, in line with its efforts to revitalize the tourism industry hurt by the economic slump. Local tourism was also affected by the outbreak of the Middle East Respiratory Syndrome last year.Lotte Department Store said
March 1, 2016
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Opposition clashes over filibuster
The main opposition leadership’s decision to suspend the record-breaking filibuster Tuesday sparked intense pushback from the party’s hard-liners, displaying intraparty tensions amid persisting legislative deadlock. An independent lawmaker filibusters at the National Assembly on Tuesday. (Yonhap)Filibusterers, many of them within the hawkish wing of The Minjoo Party of Korea, urged the party’s whip Rep. Lee Jong-kul to rethink his decision to halt the marathon speech against counterterrorism b
PoliticsMarch 1, 2016
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U.S. trying to learn more about UVA student detained in North Korea: White House
The White House said Monday it is trying to learn more about an American college student detained in North Korea, after Pyongyang claimed the student admitted to his "severe" crime of stealing a political sign from a hotel and asked for forgiveness.Otto Frederick Warmbier, a University of Virginia student, has been detained in the North since Jan. 2 for stealing a political sign that had promoted "the Korean people's love for their system" from the hotel, according to the Korean Central News Age
North KoreaMarch 1, 2016
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U.N. chief calls for faithful implementation of Korea-Japan deal
U.N. Secretary-General Ban Ki-moon called Monday for the "faithful implementation" of a landmark agreement between South Korea and Japan on resolving the issue of Japan's wartime sexual slavery.Ban made the remark during a high-level panel discussion at the Human Rights Council in Geneva, referring to the December deal between Seoul and Tokyo that centers on Japan's admission of responsibility for the wartime crime and plans to pay reparations to the victims."The agreement last December between
Foreign AffairsMarch 1, 2016
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U.N. resolution on North Korea encounters last-minute delay
Efforts to adopt a new U.N. Security Council resolution expanding sanctions on North Korea have encountered a last-minute delay as Russia has yet to give its consent to the draft worked out between the United States and China.The United States is stepping up efforts to win Moscow's agreement, a prerequisite for the resolution's adoption as Russia is a veto-holding permanent member of the council, with U.S.Secretary of State John Kerry speaking twice by phone with his Russian counterpart, Sergei
North KoreaMarch 1, 2016
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China moves to shore up slowing growth
In a step to shore up slowing economic growth, China freed up more money for lending Monday by cutting the amount its banks are required to hold in reserve. The move follows declarations by Chinese leaders that they have room to boost growth despite concern in global financial markets about capital outflows and stock and currency turmoil.The amount of deposits commercial lenders will be required to leave with the central bank will be cut by 0.5 percentage points on March 1, the central bank anno
World NewsFeb. 29, 2016
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S. Korea hold N. Korea to 1-1 draw in women's Olympic football qualifier
South Korea held favored North Korea to a 1-1 draw at the final Asian women's Olympic football qualifying tournament Monday in Japan, a decent start to the quest for their maiden Summer Games appearance.At Yanmar Stadium Nagai in Osaka, Jung Seol-bin put the 18th-ranked South Korea on board just past the half-hour mark, but Kim Un-ju scored the 79th-minute equalizer for world No. 6 North Korea to salvage a draw.The result snapped South Korea's losing streak against North Korea at nine. North Kor
SoccerFeb. 29, 2016
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[Graphic News] Debts dominate spending of households in deficit
Debt-to-income ratio of deficit households, whose spending is higher than their disposable income, reached 42 percent 2014, according to a report released by the LG Economic Research Institute on Monday. The proportion of income spent on debt repayments is far higher than the overall figure for all households of 28.3 percent.The ratio for households in deficit has risen steeply since it exceeded 30 percent for the first time in 2009, peaking in 2013, when their DTI ratio hit 42.7 percent. “Consi
Feb. 29, 2016
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Korean businesses hasten entry into Iranian market
Korean administrators rushed to Iran over the weekend to resume the Korea-Iran Joint Economic Committee meeting after a decade, with the business delegation hoping to reap economic benefits from the end of U.S. sanctions against Iran. On Monday, the Korean delegation -- led by Trade Minister Joo Hyung-hwan and accompanied by the leaders of 95 companies and organizations – held two meetings with high-profile Iranian officials and businessmen. Abdolreza Zorofchian (center), chairman of Iranian ste
Feb. 29, 2016
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Political parties bicker over opposition filibuster
The rival parties on Monday collided over the ongoing opposition filibuster, with the ruling party threatening legal action and adding pressure to suspend the marathon debate so that imminent bills, including the new electoral map can be passed. The bill on new constituencies for the April 13 general election passed the public administration committee late Sunday to be put up for a plenary vote on Monday. Feeling the pressure, The Minjoo Party of Korea asked for a brief recess in its filibuste
PoliticsFeb. 29, 2016
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[KOSDAQ Star] Dongsuh, a quiet achiever on hype-prone Kosdaq
This is the third in a series of articles analyzing the top 10 companies by market capitalization traded on the tech-heavy KOSDAQ market. --Ed.For a company holding the No. 3 spot on the Kosdaq stock exchange, Dongsuh Companies Inc. has surprisingly little presence in the Korean media. This family-run company is known for not being accessible to journalists, with no interviews, press conferences or other typical media-relations activities that companies here often do to promote themselves. For
Feb. 29, 2016
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Lotte, E-Mart deny bidding for Kim’s Club
Lotte Shopping and E-Mart, two of Korea’s major retail giants, on Monday denied making a bid for smaller hypermarket chain Kim’s Club. “We hereby officially deny media reports that our company is among the bidders shortlisted for the takeover of Kim’s Club,” E-Mart said in a regulatory filing. In a separate filing on the day, Lotte Shopping also denied any bid. (Yonhap)Rumors have been brewing as to which of the country’s retailers is among the three bidders shortlisted for the acquisition of th
Feb. 29, 2016
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Korea, U.S. agree on space program partnership
Korea and the U.S. have reached an agreement for a bilateral cooperation on their space programs, the Seoul government said Monday.The Ministry of Science, ICT and Future Planning said the agreement carries the legal and institutional basis for the two countries cooperating on the use of space technology. This ranges from the exploration of outer space to the observation of earth and general scientific research. This Aug. 20, 2015 photo made available by NASA shows Hurricane Danny as the Interna
TechnologyFeb. 29, 2016
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Allies still believe THAAD is necessary: ministry
South Korea’s Defense Ministry on Monday attempted to downplay concerns that Seoul and Washington may retract their plans to station the U.S.’ advanced missile defense system here, saying the allies still view it as necessary for the country’s national security.The allies have agreed to discuss the deployment of the Terminal High Altitude Area Defense system in South Korea, after North Korea carried out a Jan. 6 nuclear test and fired a long-range rocket on Feb. 7. But their plan to launch offic
DefenseFeb. 29, 2016
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Number of economically inactive graduates hits record high: data
The number of Korean university graduates giving up on looking for a job or not working at all has continued to increase, data showed Monday, highlighting bleak job prospects for young people. According to Statistics Korea, the economically inactive population holding a university degree stood at 3.34 million last year, up 4.7 percent from a year earlier. (Yonhap)The number of economically inactive university graduates who are neither employed nor have lost a job has more than doubled from 1.59
Social AffairsFeb. 29, 2016
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Dinner is theater at Exquis
The hold of celebrity chefs over Seoul’s dining scene remains as strong as ever, proving that the era of such culinary stars is far from over. With chefs the stars of their own culinary space, dinner as theater has become a part of the dining out experience, with open kitchens serving as a stage for diners to witness chefs in motion. Exquis -- a fine dining spot that opened three months ago in Sinsa-dong, Seoul -- takes the concept a step further by seating diners at a counter located above an o
FoodFeb. 29, 2016