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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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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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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'The Revenant' and Dicaprio are winners at BAFTA film awards.
The U.K. film industry showered Valentine's Day love on “The Revenant” on Sunday, awarding the endurance epic five prizes, including for best picture and best actor, at the British Academy Film Awards. Leonardo DiCaprio cemented his Oscar-favorite status by taking the best-actor trophy for playing a bear-battling fur trapper on the brutally wild American frontier. Alejandro G. Inarritu was named best director for what he called a “human and tender story,” and “The Revenant” also won prizes for c
FilmFeb. 15, 2016
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Korea plans to ax red tape to boost new energy investment
South Korea will actively remove administrative red tape and help companies invest in new energy industries that can generate long-term growth, the trade and industry minister said Monday.Large companies have announced plans to invest some 8.2 trillion won ($6.7 billion) into the so-called new energy sectors by 2017, calling for government assistance.The new energy sectors, which cover such areas as energy storage systems, electric vehicles, renewable energy, and technologies to improve energy e
BusinessFeb. 15, 2016
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Gaeseong complex closure negative for S. Korean credit ratings: Moody's
The recent shutdown of the inter-Korean industrial complex in North Korea's border town of Gaeseong could have adverse impacts on South Korea's credit ratings, Moody's Investors Service said Monday.Last week, Seoul suspended the Gaeseong Industrial Complex as punishment for Pyongyang's launch of a long-range rocket which came on the heels of its fourth nuclear test last month.Bashing the South for the move, the North expelled all workers and froze all assets belonging to South Korean firms. "The
BusinessFeb. 15, 2016
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Korea's M2 money supply inches down in Dec.
South Korea's M2 money supply shrank slightly from a month earlier in December, marking the first on-month drop in over a year, central bank data showed Monday.The M2 came to 2,241.8 trillion won ($1.85 trillion won) last month, down 0.1 percent from revised 2,244.3 trillion won the previous month, according to preliminary data from the Bank of Korea.The December tally marked a 7.5 percent increase from a year earlier.The M2 refers to currency in circulation, including bank debentures and deposi
Feb. 15, 2016
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Growth of bank household loans slows in Jan.
Growth of South Korean banks' household lending slowed sharply in January from a month earlier as a recent U.S. rate hike weakened consumer spending here, central bank data showed Monday.Outstanding household loans from local banks came to 641.3 trillion won ($530 billion) as of end-January, up 2.2 percent from the previous month, according to data from the Bank of Korea.The on-month increase compares with a 6.9 percent gain in December.The rise was solely attributed to an increase in home-backe
Feb. 15, 2016
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Soaring Tokyo leads Asia rebound, Shanghai down on return
HONG KONG (AFP) -- Japanese investors shrugged off an economic contraction to propel stocks more than 5 percent Monday, leading an Asia recovery after last week's horror show.But Shanghai tumbled on its first day back from the Lunar New Year holiday and after data showed another fall in Chinese exports and imports last month, yet another sign of trouble in the world’s No. 2 economy.The broad gains across the region came after a surge in New York and Europe on Friday fuelled by a rally in oil pri
World BusinessFeb. 15, 2016
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Japan economy shrinks during Q4
Japan economy shrinks during Q4TOKYO (AFP) -- Japan’s economy contracted in the last quarter of 2015, official data showed Monday, dealing another blow to Prime Minister Shinzo Abe’s faltering bid to kick-start the world’s No. 3 economy.Weak consumer spending weighed on the vast economy, which shrank 0.4 percent in the October-December quarter -- or an annualized 1.4 percent drop.That was Japan’s second quarterly contraction in 2015, although gross domestic product ticked up a tepid 0.4 percent
World BusinessFeb. 15, 2016
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China exports drop in January
BEIJING (AFP) -- China's exports tumbled 6.6 percent year-on-year to 1.14 trillion yuan ($174 billion) in January, authorities said Monday, as the struggling manufacturing sector remained a drag on the world’s second-largest economy.Tremors in overseas markets and weakness in partner economies have weighed on the Asian giant, a main driver of the world's economic growth, and the globe’s largest trader in goods.Rock-bottom prices for commodities such as oil and the slowdown in infrastructure have
World BusinessFeb. 15, 2016
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Ssangyong Motor unveils “Tivoli Air”
Ssangyong Motor on Monday said the long-body version of its popular Tivoli sport utility vehicle has been named the “Tivoli Air.” The carmaker also showcased rendered images of the new model. Most of the design was based on minimalistic concepts, Ssangyong said. Tivoli Air’s official debut will be in March. Rendered images of Ssangyong’s Tivoli Air. (Yonhap)Ssangyong’s Tivoli lineup has emerged as one of the carmaker’s most popular SUV models since its debut in January last year. The company so
IndustryFeb. 15, 2016
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'Bone-numbing' sanctions against North Korea needed: head of presidential panel
The international community should slap "bone-numbing" sanctions on North Korea over its nuke and missile provocations, the head of a South Korean presidential advisory panel said Monday.Yoo Ho-yeol, executive vice chairman at the National Unification Advisory Council, also stressed the importance of China's role in pressing Pyongyang into giving up its nuclear weapons development."Above all things, the international community should push for sanctions that will inflict severe pain to North Kore
North KoreaFeb. 15, 2016
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Convenience stores sales jumped in 2015
Convenience stores sales jumped in 2015 on the rising popularity of ready-made meals and items for single-person households, industry data showed Monday.Sales rose 29.6 percent to 16.52 trillion won from the year before. The figure outpaced sales of other offline retailers in South Korea that reached a combined 276.91 trillion won ($229.23) to show a 3.4 percent increase from a year earlier, said Statistics Korea. Caption: Inside of a local convenience store. (Yonhap)Convenience stores have eme
IndustryFeb. 15, 2016
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South Korea, U.S. conduct joint drills against North Korea's submarine attacks
South Korea and the United States carried out a three-day joint exercise on boosting the allies' joint combat readiness against North Korea's potential submarine attacks, the Navy said Monday.The drills between the navy forces of the two countries kicked off Saturday in the East Sea and were to wrap up later in the day, according to the Navy. The U.S. sent the USS North Carolina attack submarine to the three-day drills, while a South Korean 1,800-ton submarine, the Kim Jwa-jin, joined them.The V
North KoreaFeb. 15, 2016
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Chinese daily warns of political cost over North Korea's nuclear
China would have to pay a higher political cost at home if it continues to resist calls to put enough pressure on Pyongyang to abandon its nuclear program, a newspaper published by China's ruling Communist Party warned on Monday. China, North Korea's diplomatic and economic lifeline, has been reluctant to put crippling economic sanctions on the isolated ally, despite the North's fourth nuclear test and launch of a long-range rocket. In an editorial, the state-run Global Times newspaper said Chin
North KoreaFeb. 15, 2016
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Now time to mull North Korea's regime change: South Korean lawmaker
The chairwoman of South Korea's parliamentary committee on foreign affairs said Monday that it is now time to consider a regime change in North Korea."It is time to think about all possibilities including some arguments for a change of the North Korean regime," Rep. Na Kyung-won said during an interview with a local radio station.Na's comments come amid growing concerns over Pyongyang's nuclear and missile programs."There should be a consensus whether we should consider the North Korean regime o
PoliticsFeb. 15, 2016
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South Korea mulls entry ban on vessels en route from North Korea: sources
South Korea is considering an entry ban on vessels that have traveled through North Korea as part of measures to punish Pyongyang for its nuclear and missile tests, sources here said Monday.Seoul is tightening sanctions on Pyongyang as the communist country continues to develop nuclear weapons and missiles in defiance of international bans.Last week, Seoul shut down a joint industrial complex in the North's border city of Gaeseong to cut what it said was the flow of money into Pyongyang's weapon
North KoreaFeb. 15, 2016
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Ruling party's floor leader calls for nuclear armament
The floor leader of South Korea's ruling Saenuri Party called Monday for the country's own nuclear armament or the redeployment of U.S. tactical nuclear weapons to better cope with threats posed by North Korea's nuclear and missile programs.Won Yoo-cheol said South Korea should consider realistic and practical measures for self-defense to deter North Korea's possible provocations."We cannot borrow an umbrella from a neighbor every time it rains. We need to have a raincoat and wear it ourselves,"
PoliticsFeb. 15, 2016
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Gov't to start distribution service for online broadcasting
The Ministry of Science, ICT and Future Planning said Monday it will start a distribution service for online broadcasting content to help domestic content creators advance into overseas markets.K-Contentbank (www.kcontentbank.com), a distribution platform connecting domestic content owners and overseas media businesses, will offer an effective distribution service and a management system to the local content creators, the ministry said.It said the content bank will gradually expand cooperation w
Social AffairsFeb. 15, 2016
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Hyundai Motor Group to hire over 10,000 workers this year
Hyundai Motor Group is expected to recruit more than 10,000 employees this year, industry and company sources said Monday.“There will be more recruits this year than last year,” a company official said on condition of anonymity. “The details for each affiliate have yet to be confirmed, but the overall number could exceed 10,000.”This is in line with the group’s mid- and long-term employment strategy. Hyundai Motor Group -- the nation’s second-largest conglomerate -- has laid out plans to employ
IndustryFeb. 15, 2016
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Ssangyong to recall Korando C for seat belt problems
SsangYong Motor is voluntarily recalling 2,637 of its Korando C sport utility vehicles for problems in seat belt anchors, the Transportation Ministry said Monday.The seat belt system was found to have problems during a belt anchorage strength test conducted by the carmaker in accordance with government guidelines, officials said. The glitch was detected in 2,637 Korando C SUVs produced between March 30, 2015 and May 26, 2015.Free repair services will be available from Monday at SsangYong service
IndustryFeb. 15, 2016
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Man gets jail term for impersonating ruling party chief in phone scam
A local court has sentenced a 55-year-old man to two years in prison for committing telephone-based financial scams while masquerading as the country's ruling party chief and other politicians, court records showed Monday.The Busan District Court found the defendant, identified only by his surname Kim, guilty of swindling some 40 million won ($33,000) from 10 people, including a local council member and a professor, last year.Playing a double role, Kim first called the victims disguised as Rep.
Social AffairsFeb. 15, 2016