Most Popular
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Korea to face another massive shortfall in tax revenue
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Photo news] Faker Mercedes
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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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'Shaman says president will die,' caller warns
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AIIB chief shrugs off bank skepticism
The president of the fledgling Asian Infrastructure Investment Bank (AIIB) Jin Liqun has used a famous quote from British author Jane Austen to hit back at skepticism about China's motivation for creating a multilateral financial institution."Skepticism must always be forgiven you know, because there is no hope of a cure," Jin said replacing "selfishness" in the original quote, with "skepticism".The AIIB chief shrugged off suspicion and misconception about the AIIB, saying the bank intended to u
World NewsJune 1, 2016
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China ‘committed to safeguarding’ peace: Li Keqiang
China does not intend to assume a role as “big brother”, but instead seeks to build a community of a shared future with all its neighbors, Premier Li Keqiang said in Beijing on Tuesday.“There are no grounds for China to become a superpower, and neither does China have the intention to be one,” Li said. “China has a long way to go to realize modernization. It needs a stable regional and peaceful international environment, and China is committed to safeguarding that environment.” The premier made
World NewsJune 1, 2016
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Seoul population falls under 10 mln
The population of Seoul fell under 10 million for the first time in nearly three decades, government data showed Wednesday, apparently due to soaring housing prices in the country's capital.Seoul's population came to 9,995,784 as of the end of May, down 7,195 from a month earlier, according to the data released by the Ministry of the Interior. It has not dropped below the 10-million mark since the capital became a mega city in 1988. The number has been decreasing for 15 consecutive months since
Social AffairsJune 1, 2016
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Man killed by suicide jumper
Two men died Tuesday in Buk-gu, Gwangju, after one threw himself out a window to kill himself and landed on top of the other. Police said a 26-year-old university student, whose identity has been withheld, left a suicide note and jumped from the 12th floor of his apartment complex at around 10 p.m. on Tuesday. In an unfortunate coincidence he fell on top of a 40-year-old man returning home after work.This is a stock image. (123RF)The two were immediately taken to a hospital but neither survived
Social AffairsJune 1, 2016
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GDP credibility questioned amid sluggish growth
Finance Minister Yoo Il-ho suggested last week the government would no longer adhere to its projection that the country’s economy would grow by 3.1 percent this year.Yoo, who doubles as deputy prime minister for economic affairs, said the government would be “cool-headed” in adjusting the growth target when it announces in late June the economic policy directions to be pursued in the latter half of the year.Finance Minister Yoo Il-ho (Yonhap)His remarks came a day after the Korea Development Ins
June 1, 2016
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Sanctions aren't short-term game, multilateral approach matters: U.S. diplomat
Sanctions are not a "short-term game" but a longer-term one that needs time and cooperation with other major countries to make them successful, the top U.S. diplomat in Seoul said Wednesday.China is an important part in all of this, and that is why it is necessary to keep engaging with Beijing at "very senior levels," Mark Lippert, U.S. ambassador to South Korea, told a forum in Seoul. "I think the important thing to remember is that sanctions aren't just a short-term game. It is the longer-term
North KoreaJune 1, 2016
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Hyundai Heavy gets approval on 3.5 tln-won self-rescue measures
Embattled Hyundai Heavy Industries Co. has mapped out 3.5 trillion won ($2.94 billion) worth of self-rehabilitation measures, including asset sales and a cut in its workforce, in order to stay afloat amid a drop in new orders, industry sources said Wednesday.Under the shipbuilder's self-rescue plans, temporarily approved by the financial authorities and its creditors, led by KEB-Hana Bank, it will sell stocks that it invested in, non-core assets and cut its workforce, which will reduce its debt-
IndustryJune 1, 2016
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Ruling, opposition collide over which party will get parliamentary speaker
South Korea's ruling and opposition parties have locked horns over which side will get the National Assembly speaker post, which could hold up the actual opening of the new parliament, political observers said Wednesday."It has been tradition for the ruling party to nominate the National Assembly speaker," Rep. Chung Jin-suk, the floor leader of the Saenuri Party said.April's election results are fueling confusion over which party should take the speaker's chair, which is traditionally taken by
PoliticsJune 1, 2016
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3 Korean men arrested for gang raping Swedish tourist
Three men were arrested on charges of gang raping a Swedish tourist they met at a nightclub in Hongdae, Seoul, the Seoul Mapo police said Wednesday.The men, in their 20s, allegedly accosted the victim “to show her the Korean nightlife,” on May 14 in Hongdae area. (123RF)The four of them drank until the next morning, resulting in the victim becoming heavily intoxicated. The suspects are then alleged to have taken the victim to one of the men’s flat where they sexually assaulted her and photograph
Social AffairsJune 1, 2016
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More firms subject to strict antitrust rules in May
The number of South Korean business groups' affiliates subject to restrictions on mutual investments and loan guarantees rose sharply in May from a month earlier, the antitrust watchdog said Wednesday.The Fair Trade Commission said the number of firms on its monthly watch list came in at 1,759 on Monday, up 18 from the previous month. Fair Trade Commission in Sejong City (Yonhap)Such affiliates are owned by the country's 65 largest business groups, including Samsung Group, Hyundai Motor Group an
IndustryJune 1, 2016
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[Photo News] LG Stylus 2 Plus global debut
The LG Stylus 2 Plus, the larger-screen version of LG Electronics’ Stylus smartphone, went on sale globally Wednesday, starting in Taiwan. The new phone will hit other markets in Asia, South America, Europe and North America in the coming weeks. (LG Electronics)
TechnologyJune 1, 2016
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Korea considers shutdown of aged coal power plants
South Korea is considering closing aged coal-fired power plants as part of efforts to curb fine dust emissions in light of worsening air pollution problems, the government said Wednesday. The Office for Government Policy Coordination under the Prime Minister's Office has been preparing a set of comprehensive measures jointly with the ministries of environment, energy and finance to address the rising environmental concerns.The Ministry of Trade, Industry and Energy has been drafting a plan to cl
IndustryJune 1, 2016
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'Silent' green cars could be a risk to walkers: report
Hybrid or electric-powered cars could be much more dangerous to pedestrians than traditional vehicles because of their silence, a report said Wednesday.According to the report by Hyundai Marine & Fire Insurance Co., walkers are 1.6 times more likely to be run over by a quiet hybrid or electric car than by one with a gas or diesel engine outside schools, in residential areas and on other back roads. (Yonhap)The accident rate for slow-moving hybrids on back roads was 5.5 percent, compared to 3.5 p
MobilityJune 1, 2016
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Foreign ownership at Samsung C&T keeps falling following merger
Foreign investors have continued to dump shares of Samsung C&T Corp., the fashion and trading arm of South Korea's top conglomerate, since its merger last year, dragging down its share prices, the bourse operator said Wednesday.The foreign ownership at Samsung C&T stood at 7.62 percent as of Tuesday, the lowest level since Sept. 15, when its shares resumed trading on the Seoul bourse, following the merger with then-Cheil Industries to become the group's de facto holding firm, the Korea Exchange
June 1, 2016
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Subway construction site explodes, kills 4 workers, injures 10
Four workers were killed and 10 others were injured Wednesday, when a subway construction site near Seoul collapsed due to what is believed to be a gas explosion, police said.The victims, who were trapped under debris 15 meters underground, were transported to nearby hospitals for treatment, according to authorities. The accident, which occurred in the city of Namyangju, east of Seoul, around 7:30 a.m., took place when a total of 17 workers were on duty. One of the victims died after being throw
Social AffairsJune 1, 2016
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Korean cyber networks vulnerable to ransomware attacks
South Korea has become a main target of various types of ransomware attacks but it is struggling to find effective countermeasures, industry officials here said Wednesday.Local computer users are increasingly susceptible to such malware, some even using the Korean language.The Korean-language cryptXXX file, which seeks bitcoin, was reported last week and is a more sophisticated scam than the Korean versions of CryptoLocker and Radamant ransomware that infected a number of PCs in 2015.Ransomware,
TechnologyJune 1, 2016
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Seoul to provide 180 mln won on renovation of 'hanok'
The Seoul Metropolitan Government said Wednesday it will provide up to 180 million won ($151,200) worth of subsidies for the renovation of traditional houses, in line with its bid to preserve traditional buildings remaining in the city.The announcement came as Seoul designated 550,000 square meters of area in five districts, including Bukchon and Seochon, two of the oldest neighborhoods in the capital, as special zones for the conservation of hanok, or traditional-style housing.The houses in the
CultureJune 1, 2016
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Ri stresses N.K.'s dual policy of pursuing nukes, economy: KCNA
Ri Su-yong, a top North Korean party official, has stressed his country's goal of simultaneously pursuing nuclear and economic development during his talks with a senior Chinese party official, Pyongyang's state media said Wednesday.Ri, vice chairman of the North Korean ruling party's central committee and the party's chief of international relations, held talks with his counterpart Song Tao, minister of the International Department of the Chinese Communist Party in Beijing on Tuesday.The former
North KoreaJune 1, 2016
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Sales of low-priced wines on a roll in Korea
Wine is no longer booze that is consumed only on a red-letter day in South Korea. It is morphing into an alcoholic beverage for the man on the street as more low-priced brands are available and becoming popular.Large discount store chains and wine wholesale stores have chalked up strong growth in sales of wine with a price tag of less than 10,000 won ($8.40) this year as they offer consumers a variety of low-priced brands, industry sources said Wednesday.No. 1 discount chain E-Mart saw such chea
IndustryJune 1, 2016
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Korea's exports decline slows in May
South Korea's exports continued to dwindle from a year earlier in May but the rate of drop slowed significantly, the government said Wednesday.Outbound shipments came to $39.78 billion last month, down 6 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.The 6-percent on-year decline marked the slowest rate of drop since the start of the year. In January, exports plunged 18.5 percent, marking the fastest rate of drop since August 2009.Imports, on the o
June 1, 2016