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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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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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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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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Korea's bank deposits surge in 2015
The amount of money funneled to South Korean banks in deposits and bank debentures soared in 2015 from a year earlier, central bank data showed Sunday, apparently due to a rise in floating money prompted by low interest rates and uncertainties in the investment market.The total amount of funds held by local banks came to 1,391 trillion won ($1.15 trillion) at the end of 2015, up 106.7 trillion won from a year earlier, according to the data from the Bank of Korea. (Yonhap)The 2015 tally marked th
Feb. 14, 2016
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South Korea says North Korea used Gaeseong wages to develop weapons
South Korea's point man on inter-Korean affairs said Sunday he believes that North Korea has used wages paid to its workers at the joint inter-Korean factory complex to develop nuclear and other military weapons.In a television appearance, Unification Minister Hong Yong-pyo said "70 percent" of the money that flowed into the Gaeseong Industrial Complex has been used by the ruling Workers' Party to bankroll weapons development."Workers at Gaeseong are paid in cash (U.S. dollars), but the money do
North KoreaFeb. 14, 2016
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Mika takes Seoul to ‘Heaven’
He’s no stranger to Seoul, but that didn’t stop British artist Mika from drawing in thousands on Friday night, performing at a sold-out concert in Seoul as part his three-day South Korean “Heaven” tour.British singer-songwriter Mika performs at a concert in Seoul last Friday. (Yonhap)The singer songwriter lit up Jamsil Arena with sparkles, sequins and confetti in his return to Seoul for the first time in 2016 on Feb. 12. “Good evening, Seoul,” the artist announced, stepping onto the stage in a g
PerformanceFeb. 14, 2016
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Pyongyang launches new ICBM unit: sources
North Korea has formed a new military unit to deploy a road-mobile intercontinental ballistic missile (ICBM), multiple South Korean government sources said Sunday.They said the KN-08 Brigade, designated after the ICBM of the same name, is a subordinate unit of the Strategic Forces, which oversees all missile units in the North. Sources said it indicates North Korea has inched closer to fielding the road-mobile ICBM. The KN-08 missile seen at a military parade held in Pyongyang on April 15, 2012.
North KoreaFeb. 14, 2016
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Olympic speed skating champ Lee Sang-hwa captures 3rd world title
Two-time Olympic speed skating champion Lee Sang-hwa captured her third world title on Saturday in Russia.Lee won the women's 500 meter gold medal at the International Skating Union World Single Distances Speed Skating Championships in Kolomna, Russia. The South Korean posted the track record time of 74.859 seconds after two runs. Brittany Bowe of the United States took the silver in 75.663 seconds, and Zhang Hong of China got the bronze in 75.688 seconds.It was the first world championship in t
More SportsFeb. 14, 2016
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Global auto chip market forecast to log solid growth
The global automotive chip market is expected to grow solidly over the next few years, driven by the rise of autonomous vehicles, a market tracker said Sunday.According to IHS Technology, the worldwide market for chips used in vehicles is forecast to increase at an annual average rate of 5.5 percent over the next six years.In particular, the annual growth rate of the market for chips used in so-called advanced driver assistance systems will likely reach a whopping 14.2 percent, it said.ADAS refe
IndustryFeb. 14, 2016
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South Korea, EU share need for strong sanctions on North Korea
South Korea's Foreign Minister Yun Byung-se and EU foreign policy chief Federica Mogherini reached the consensus that the U.N. Security Council and the European Union should impose strong and effective sanctions on North Korea, an official said Saturday.Mogherini said the EU will join the international community's efforts to put pressure on North Korea and that it will consider tightening its own sanctions on the communist country, according to the South Korean official.Yun was in Germany for th
North KoreaFeb. 14, 2016
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Pro-North Korean group in Tokyo urges Japan to retract sanctions on North
A pro-North Korean organization in Japan pressed Tokyo to immediately roll back sanctions on North Korea, blaming Japan for scrapping the 2014 deal between Pyongyang and Tokyo on easing sanctions.Japanese Prime Minister Shinzo Abe said earlier this week that Japan is working to impose its own sanctions on North Korea for its recent nuclear test and long-range rocket launch. Abe made the comments in a telephone conversation with South Korean President Park Geun-hye.The Japanese move is "an unpard
North KoreaFeb. 14, 2016
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JYP chief Park Jin-young to work on project with Conan O'Brien
JYP Entertainment, one of South Korea's three largest entertainment agencies, said Saturday its founder Park Jin-young will work on a joint project with American talk show host Conan O'Brien next week.It said the project is scheduled to be held on Thursday in South Korea, though it did not provide any further details.It is rumored that the South Korean singer and O'Brien may shoot a music video together. O'Brien is set to arrive in Seoul on Sunday for a five-day trip to shoot his "Conan" show, a
TelevisionFeb. 14, 2016
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Candidates competing to run in April parliamentary race hit 1,426: NEC
The number of candidates running to win a seat at the upcoming parliamentary race stands at 1,426, the National Election Commission said Saturday.The number represents an average competition ratio of 5.8 to 1, with some 60 days remaining before the April 13 election.The candidates will compete for 246 electoral seats up for grabs. The remaining 54 seats in the 300 seat National Assembly are distributed through a proportional representation system.Of the candidates, 771 or 54.1 percent were compe
PoliticsFeb. 14, 2016
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Seoul unlikely to receive 3 tln won in outstanding loans, interest from N. Korea
SEOUL/SEJONG -- South Korea is unlikely to get back 3 trillion won (US$2.5 billion) in outstanding loans and interest payments it provided North Korea in the past with the freezing up of relations following Pyongyang's recent nuke test and long-range missile launch, observers said Saturday.According to data provided by the finance ministry and Export-Import Bank of Korea (Korea Eximbank), the country provided 2.5 trillion won worth of direct funds and indirect assistance to its northern neighbor
Feb. 13, 2016
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N. Korea leader promotes general officers ahead of late father's birthday
North Korean leader Kim Jong-un promoted 35 general officers ahead of his late father's birthday, a major holiday in the North, the country's official media outlet said Saturday. The move takes place just three days before the isolationist country celebrates Kwangmyongsong Day, the birthday of former North Korean leader Kim Jong-il who died in December 2011. The late leader's birthday is also referred to as the Day of the Shining Star.It also comes after South Korea's intelligence service claim
North KoreaFeb. 13, 2016
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Political parties lock horns over gov't decision to shut down Gaeseong complex
The ruling and opposition parties locked horns on Saturday over the government's decision to close down the Gaeseong Industrial Complex in North Korea.The ruling Saenuri Party said the Minjoo Party of Korea and other opposition parties are turning the shutdown into a tool to win votes in the upcoming general elections."The move was necessary to safeguard national security in the face of mounting provocations by the North," Rep. Shin Yee-jin, the party's spokeswoman said. She pointed out that unl
PoliticsFeb. 13, 2016
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U.S. deploys more Patriot missiles in South Korea
The United States temporarily deployed an additional Patriot missile battery in South Korea in response to North Korea's nuclear test and a long-range rocket launch, ahead of talks next week to set up an even more sophisticated U.S. missile defense in a move that has worried China and Russia.The new tough stance follows South Korea's decision to shut down an inter-Korean factory park that had been the rival Koreas' last major symbol of cooperation, but that Seoul said had been used by North Kore
DefenseFeb. 13, 2016
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Pope in Mexico after historic talks with Russian patriarch
MEXICO CITY -- Catholic faithful flocked to the streets of Mexico City to greet Pope Francis on Friday after the pontiff held a historic meeting with the head of the Russian Orthodox Church.President Enrique Pena Nieto welcomed Francis at the airport while crowds lined the streets, preparing to hold up their phones to light the way for the popemobile across the mega-capital of the world's second largest Catholic country. Pope Francis (center) waves next to Mexican President Enrique Pena Nieto (r
World NewsFeb. 13, 2016
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U.S. Congress gives final approval to N. Korea sanctions bill
WASHINGTON -- The U.S. House of Representatives gave final approval to a package of stringent sanctions on North Korea on Friday, taking swift action to punish the communist regime for its nuclear and missile tests.The House approved the North Korea Sanctions Enforcement Act of2016 in a 408-2 vote, just two days after the Senate unanimously passed the legislation in a demonstration of bipartisan support for a tough response to Pyongyang.The legislation will take effect as soon as President Barac
World NewsFeb. 13, 2016
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World powers agree to end Syria hostilities but questions remain
World powers Friday agreed an ambitious plan to cease hostilities in war-racked Syria, but the Munich deal left out the Islamic State group and Al-Qaeda's local branch, leaving analysts to doubt its viability.The 17 countries agreed "to implement a nationwide cessation of hostilities to begin in a target of one week's time," said US Secretary of State John Kerry after extended talks co-hosted by Russian Foreign Minister Sergei Lavrov.The International Syria Support Group also agreed that "sustai
World NewsFeb. 12, 2016
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Police to intensify readiness against N. Korea's possible provocations
Police said Friday they have strengthened security measures as tensions rise on the Korean Peninsula following North Korea's recent nuclear and long-range rocket tests.Kang Sin-myeong, the National Police Agency (NPA) Commissioner-General, has ordered local police agencies and stations to establish and intensively execute field training exercise (FTX) plans, according to the NPA.The instructions were made a few days after North Korea launched a long-range rocket carrying a satellite in what the
North KoreaFeb. 12, 2016
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[Newsmaker] Hyundai Group mired in N.K. tension
Escalating tensions between the two Koreas is adding more pressure on North Korea-related business operator Hyundai Group, which is already struggling to save its shipping unit from a deepening liquidity crisis. In response to a recent nuclear test and rocket launch by the North, South Korea on Thursday announced its withdrawal from the Gaeseong industrial park, the last remaining symbol of economic cooperation between the two nations. Workers walk pass a glass door at Hyundai Asan headquarters
IndustryFeb. 12, 2016
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[Weekender] Readiness key to crisis management: expert
With disaster risks, social media and other mounting challenges, the government and businesses should strive for a systematic, across-the-board change to better forecast crisis and improve their readiness, a leading crisis management consultant said Thursday. “In crisis management, there are only two sides -- those who are prepared, and those who are not,” said Yu Min-yeong, chief executive and a partner of Acase. Yu Min-yeong (Song Sang-ho/The Korea Herald)“The readiness would determine your
Social AffairsFeb. 12, 2016