Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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OpenAI in talks with Samsung to power AI features, report says
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Two jailed for forcing disabled teens into prostitution
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South Korean military plans to launch new division for future warfare
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Kia EV9 GT marks world debut at LA Motor Show
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Teen smoking, drinking decline, while mental health, dietary habits worsen
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Man claiming wrongful conviction in rape, murder of child requests new trial
SUWON, Gyeonggi Province -- A man surnamed Yun on Wednesday filed a request for a retrial in hopes of overturning his conviction for the 1988 rape and murder of a child, for which he served nearly 20 years in prison.“I am innocent. Today is a happy day for me,” Yun told reporters before filing his request with a district court in Suwon, Gyeonggi Province, where he was tried and given a life term in October 1989.Yun, 52, is seeking exoneration for what has been identified as the eight
Social AffairsNov. 13, 2019
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Hanwha Systems’ listing signals accelerating succession plan
Hanwha Group’s defense technology unit was listed Wednesday, suggesting that succession plans are being hastened and Chairman Kim Seung-youn is ready to hand over the reins to his sons. Hanwha Systems currently has a market cap of nearly 1.3 trillion won ($1.1 billion) and traded slightly below its initial public offering price of 12,250 won at 11,100 won on its first day of trading on the benchmark Kospi.According to analysts and industry insiders, the company’s Kospi debut will hel
MarketNov. 13, 2019
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Asiana’s choice of HDC seen as a boon for Aekyung
Debt-ridden Asiana Airlines’ choice of a consortium led by Hyundai Development Company as its new owner -- one of the three bidders for a controlling 31 percent stake -- is a boon for Aekyung Group which lost out, according to analysts Wednesday.The HDC consortium also includes Mirae Asset Daewoo, which will take 20 percent stake. Soon after the announcement, Aekyung said in a statement that it will continue to advance its budget airline brand Jeju Air’s safety operation system and d
IndustryNov. 13, 2019
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S. Korea's key rate in new territory but not in trouble: BOK board member
The gap between South Korea's policy rate and that of the United States may have placed South Korea in unexplored territory, but the rate gap has yet to cause any serious problems for Asia's fourth-largest economy, a member of the Bank of Korea's monetary policy board said Wednesday."(Future rate decisions) will have to be made after carefully examining various factors as South Korea is exploring an unwalked territory," Lim Ji-won said in a meeting with reporters. Lim's remarks came le
MarketNov. 13, 2019
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[Newsmaker] Opposition floor leader appears for questioning on 'fast-track' scuffling
The floor leader of the main opposition Liberty Korea Party appeared at a prosecution office Wednesday for long-delayed questioning over parliamentary scuffles related to the fast-tracking of major reform bills.At issue is the party's use of physical means in April to block attempts by the ruling Democratic Party and other opposition parties to put contentious electoral and prosecution reform bills on a fast track.Rep. Na Kyung-won and 59 other LKP lawmakers, as well as a number of party staffer
PoliticsNov. 13, 2019
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Hyundai Heavy requests EU approval for DSME merger
Hyundai Heavy Industries submitted a request for formal approval from the European Union for its merger with Daewoo Shipbuilding & Marine Engineering, HHI said Wednesday. The EU, which is believed to hold the key to the merger, plans to complete the first round of screening results next month. Hyundai Heavy said, “We are faithfully explaining to competition authorities in line with the review schedule and process of each country. We will do our best to ensure that the tie-up proce
IndustryNov. 13, 2019
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South Korea embarks on large-scale oil hub project in Ulsan
South Korea is accelerating its oil hub project aimed at making Ulsan and Yeosu the center of petroleum trading in Northeast Asia, officials said Wednesday. The oil hub project in Northeast Asia began in 2008 to build large-scale commercial oil and gas storage facilities in the two cities. It seeks to make the regions a hub for the convergence of petroleum logistics, trading and finance in Northeast Asia as well as to enhance the nation’s energy security in the event of an international oi
IndustryNov. 13, 2019
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Credit card firms entice e-shoppers ahead of Black Friday
With Black Friday falling in the US on Nov. 29, South Korea’s credit card operators are rolling up their sleeves to lure online shoppers with discounts and giveaways, industry data showed Wednesday.Overseas online retail customers -- dubbed “jikgu-jok” in Korean -- are expected to flock to various shopping sites in the upcoming season, running from Black Friday in end-November, to Cyber Monday in early December, up to Christmas and year-end.According to Korea Customs Service, b
MarketNov. 13, 2019
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US issues financial advisory against NK
The US Treasury Department issued another advisory against financial dealings with North Korea on Tuesday.In its latest advisory, the department’s Financial Crimes Enforcement Network reminded financial institutions not to do business with North Korea, which the Paris-based Financial Action Task Force recently targeted in a call for countermeasures because the North lacks adequate systems to combat money laundering and the financing of terrorism.On Oct. 18 the FATF, an intergovernmental bo
North KoreaNov. 13, 2019
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S. Korea's economy likely to grow 2.3 % in 2020: KDI
South Korea's economy is expected to grow 2.3 percent in 2020, slightly higher than this year's estimated 2 percent expansion, on the back of a slight improvement in domestic demand and exports, the state-run Korea Development Institute said Wednesday.The growth outlook for next year is line with a forecast by the Organization for Economic Cooperation and Development.In September, the OECD said Asia's fourth-largest economy could expand 2.3 percent in 2020, slower than its previous forecast of 2
EconomyNov. 13, 2019
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Terminating GSOMIA may send ‘wrong’ message to adversaries: Abrams
PYEONGTAEK, Gyeonggi Province -- By terminating its bilateral intelligence-sharing agreement with Japan, South Korea risks sending the wrong message -- that the trilateral alliance of South Korea, the US and Japan is weak -- Gen. Robert Abrams, commander of the US-ROK Combined Forces Command, said Tuesday.Marking his first year in office, Abrams, who also commands United States Forces Korea and the United Nations Command, spoke on a series of current issues, including the ongoing defense cost-sh
DefenseNov. 13, 2019
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S. Korea looking to end World Cup qualifying for 2019 on winning note vs. Lebanon
ABU DHABI -- South Korea will try to close out their World Cup qualifying campaign for 2019 with an away win against pesky opponents.Coached by Paulo Bento, South Korea will visit Lebanon in Beirut on Thursday for the teams' Group H match in the second round of the Asian qualification for the 2022 FIFA World Cup. The kickoff is 3 p.m. local time, and 10 p.m. in Seoul.It will be the last Group H contest for South Korea in 2019.Their next match will be against Turkmenistan at home on March 26, 202
SoccerNov. 13, 2019
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S. Korea to build more smart factories to deal with demographic change
South Korea will build 30,000 smart factories and 10 smart industrial zones by 2022 as part of efforts to deal with a looming decline of the country's working-age population, the finance minister said Wednesday.Hong Nam-ki said the number of people working at smart factories and smart industrial zones could stand at 100,000, which he said would help improve productivity.A smart factory is a highly digitized and connected production facility aimed at improving productivity and safety at workplace
EconomyNov. 13, 2019
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Seoul unveils plan to invigorate reverse mortgages for elderly homeowners
South Korea announced plans to kick-start the so-called reverse annuity mortgage market Wednesday in an effort to help support elderly homeowners financially.The measure, unveiled by a pan-governmental task force on population policy, would lower the age limit for applicants for reverse annuity mortgages to 55 from the current 60 years old.The government will also push to expand the scope of eligible homes. Owners of homes with a government-set price of 900 million won ($771,000) or lower will b
EconomyNov. 13, 2019
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US, N. Korean officials had meeting during Moscow forum last week: VOA
US and North Korean officials had a meeting during last week's international nonproliferation conference in Moscow, a former American diplomat was quoted as saying.Thomas M. Countryman, former assistant secretary of state for international security and nonproliferation, made the remarks after attending the Moscow Nonproliferation Conference involving 250 participants from more than 40 countries, including the North, according to the Voice of America."I was told that there was such a meeting
North KoreaNov. 13, 2019
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US pressure expected to intensify on Seoul over GSOMIA this week
The United States is expected to use a series of high-level defense meetings with South Korea in coming days to intensify pressure on Seoul to reconsider its decision to end a military information-sharing pact with Japan.US Joint Chiefs of Staff Chairman Gen. Mark Milley is scheduled to arrive in South Korea on Wednesday, 10 days before the General Security of Military Information Agreement between Seoul and Tokyo expires on Nov. 23.South Korea decided to end the three-year-old pact in response
Foreign AffairsNov. 13, 2019
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Hong Kong clashes rage on university campus and business district
HONG KONG (AFP) -- Hong Kong pro-democracy protesters fought intense battles with riot police on a university campus and paralysed the city's upmarket business district Tuesday, extending one of the most violent stretches of unrest seen in more than five months of political chaos.The confrontations followed a particularly brutal day on Monday, when police shot a protester and a man was set on fire, prompting calls from western powers for compromise but further fury in China against any challenge
World NewsNov. 13, 2019
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Trump again cites questionable numbers related to Korea trade deal
WASHINGTON -- US President Donald Trump again cited questionable numbers on Tuesday as he touted his administration's renegotiated free trade agreement with South Korea.Trump told the Economic Club of New York that the revised FTA, which took effect early this year, doubled the number of American cars that can be sold in South Korea under US standards and extended American tariffs on Korean pickup trucks by another 20 years to 2041. He then took a swipe at the previous administration of Barack O
Foreign AffairsNov. 13, 2019
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S. Korean bats stymied by Chinese Taipei
CHIBA -- This looked like a completely different South Korean team, and not in a good way.South Korea was shut out 7-0 by Chinese Taipei in the Super Round at the World Baseball Softball Confederation Premier12 on Tuesday in Chiba, east of Tokyo. The loss at ZOZO Marine Stadium was South Korea's first in the tournament and snapped the team's winning streak at four. The exact same starting lineup that produced a home run and four doubles in a 5-1 win against the United States on Monday went silen
BaseballNov. 13, 2019
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Korea's jobless rate hits 6-year low in October, over 400,000 jobs created
South Korea's jobless rate hit a six-year low in October, and job additions came to 419,000 from a year earlier, data showed Wednesday. The unemployment rate fell 0.5 percentage point on-year to 3 percent in October, also marking the lowest level for any October since 2013. The number of employed people reached 27.5 million in October, a rise of 419,000 from the same month in 2018, according to the data compiled by Statistics Korea. It marked the third straight
EconomyNov. 13, 2019