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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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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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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N. Korea's 4th Musudan missile launch ends in failure
North Korea launched a Musudan intermediate-range ballistic missile early Tuesday morning, but the launch ended in failure, South Korea's Joint Chiefs of Staff and military sources said. "North Korea attempted to launch an unidentified missile from Wonsan, Gangwon Province, at around 5:20 a.m., but it is presumed to have been unsuccessful," the JCS said in a brief text message.The military is studying the details of the launch and is maintaining a high level of combat preparedness, the JCS said.
North KoreaMay 31, 2016
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Snack bread turns into local best-seller after succeeding in France
"Kopan," a dessert-snack bread from South Korea's leading confectionery Paris Baguette, has won over local consumers after earning popularity first in France, hitting 10 million in sales in nine months, the company said Tuesday.Short for Korean pan, Kopan was served as a dessert at the Korea-France summit dinner in Paris in November last year. Because its pronunciation is similar to copain, meaning friend in French, it has been mentioned as being symbolic of the amicable relations between the tw
IndustryMay 31, 2016
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Saenuri floor leader calls for end to party factionism
Chung Jin-suk, the floor leader of the ruling Saenuri Party, on Tuesday said every effort must be made to eradicate tensions among different factions, adding senior members must join forces to get the party back on its feet after its defeat in last month's poll."All members should join forces to do away with factional infighting. Key officials of each faction must set an example," Chung said. The remark apparently refers to Kim Moo-sung, the party's former chairman, and Choi Kyung-hwan, the coun
PoliticsMay 31, 2016
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Court orders Samsung C&T to increase stock purchase price
An appeals court ordered Samsung C&T Corp., the fashion and trading arm of South Korea's top conglomerate, to increase the stock purchase price proposed to shareholders who were opposed to the company's merger last year, court records showed Tuesday.Last year, Samsung C&T was formed out of a merger between then Samsung C&T and then-Cheil Industries to become the group's de facto holding firm. The merger was part of the group's efforts to streamline its structure through big shakeups of its affil
May 31, 2016
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Korean children start English education before turning five
South Korean mothers have their children start learning English before they turn five on average, an age some admit is probably too early, a survey showed Tuesday.Yoon's English School, a company that runs a chain of English language schools across the country, asked 466 members of an online mothers' community between May 25-29 and found that their children started learning English at an average age of 4.8. The survey said24.9 percent started at age 6, 21.7 percent at age 5 and 14.8 percent at a
Social AffairsMay 31, 2016
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Kia Motors reports record sales in Latin America
Kia Motors Corp., South Korea's second-largest automaker, posted record sales in Latin America this year, whose growth surpassed that of the Middle East and Eastern Europe, which are grappling with the economic slowdown, its report showed Tuesday. A total of 57,495 Kia cars were sold in Central and South American countries in the first four months of this year, surging 27.8 percent from a year ago, its investor relations report said. Its average monthly sales in the region first passed 10,000 in
MobilityMay 31, 2016
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N. Korea's missile launch appears to have failed
North Korea launched a missile from its east coast in the early morning of Tuesday, but the launch appears to have failed, South Korea's Joint Chiefs of Staff said."North Korea attempted to launch an unidentified missile from the region near Wonsan at around 5:20 a.m., but it is presumed to have been unsuccessful," the JCS said in a brief text message.The military is studying details of the launch and is maintaining a high level of combat preparedness, the JCS said. Sources said the launched mis
North KoreaMay 31, 2016
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Daewoo Shipbuilding draws up self-rescue package worth 3 tln won
Loss-making Daewoo Shipbuilding & Marine Engineering Co. has mapped out self-rescue measures worth over 3 trillion won ($2.52 billion) in total which include an employee wage cut and asset sales, industry sources said Tuesday.Last year the shipyard drew up a 1.85 trillion won self-rehabilitation plan in return for 4 trillion won in financial aid. Recently, the shipyard presented an additional step estimated to save 1.5 trillion won, according to the sources.The latest measures include a cut of u
IndustryMay 31, 2016
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PM urges Nat's Assembly to focus on economy
Prime Minister Hwang Kyo-ahn said Tuesday that the new National Assembly should focus on revitalizing the country's economy, adding the government will take steps to work closely with lawmakers."It is regrettable that the major economy-related laws were not concluded at the 19th National Assembly," Hwang said during the Cabinet meeting.The comments come as the 20th National Assembly began work on Monday with lawmakers from both the ruling and opposition parties placing more emphasis on cooperati
May 31, 2016
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Samsung rules SSD market in 2015
South Korean tech giant Samsung Electronics Co. dominated the global solid state drive market last year on the back of the increased adoption in personal computers, data showed Tuesday.Samsung Electronics saw its share in the global SSD for personal computer market reach 54 percent in 2015, far outstripping U.S. rival Intel Corp.'s 9 percent, according to the data compiled by industry tracker IHS.An SSD is a data storage device made with a NAND flash memory chip that saves data without requiring
IndustryMay 31, 2016
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Dairy industry hit by low milk consumption, cheaper imports
Unsold milk keeps piling up in storages and attempts to use it to make cheese, about the only dairy product still selling in the market, have been foiled by heavy imports, industry officials said Tuesday.Trouble for the local dairy business turned serious in November 2014, when the milk stock surpassed 200,000 tons for the first time. According to the Korea Dairy Committee, there were 244,146 tons of leftover milk as of March this year, the 16th month that the stock has exceeded 200,000 tons.Sou
IndustryMay 31, 2016
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Korea's industrial output sinks 2.8% on-year in April
South Korea's industrial output fell for the second consecutive month and widened its downward pace in April due mainly to a sharp drop in the production of the auto and electronics parts sectors, a government report showed Tuesday.Production in the mining, manufacturing, gas and electricity industries fell 2.8 percent last month from a year ago, according to the report by Statistics Korea. From a month earlier, industrial output also retreated 1.3 percent.The April figure represents a contracti
IndustryMay 31, 2016
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Korean investment in overseas securities rises in Q1
The amount of foreign securities held by major South Korean institutions grew at the fastest clip in over eight years in the first quarter, partly on a surge in South Korean investment in foreign bonds, central bank data showed Tuesday.As of the end of March, the value of foreign securities held by South Korea's institutional investors came to US$135.74 billion, up $14.75 billion from the revised $120.99 billion tallied three months earlier, according to preliminary data from the Bank of Korea.A
IndustryMay 31, 2016
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Korean firms sign deals worth more than $3 mln with African partners
More than 20 South Korean companies signed deals worth more than $3.1 million with African partners, mostly Ugandan firms, by capitalizing on President Park Geun-hye’s African tour, South Korea’s presidential office said Monday.The deals were reached in a meeting between executives of 27 South Korean companies and more than 210 Ugandan firms and other African firms as well as multinational corporations in Uganda’s capital, Kampala, on Monday.South Korea said $3.1 million accounts more than 15 pe
May 31, 2016
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N. Korea gives no rocket launch notification to U.N. agencies
North Korea has not notified U.N. agencies of any rocket launch plan, agency officials said Monday, after South Korea and Japan reported signs of the North preparing to conduct an intermediate-range missile launch.South Korea's Joint Chiefs of Staff said earlier in the day that it is keeping track of signs of North Korea preparing to launch a ballistic missile. Sources said the North is believed to have put an intermediate-range Musudan missile on a mobile launcher on the east coast.If carried o
North KoreaMay 31, 2016
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Korea's global competitiveness ranking drops to 29th: IMD report
South Korea's global competitiveness ranking fell by four notches this year due mainly to sluggish economic performance and business efficiency, an international institute said Tuesday.According to the 2016 report by the International Institute for Management Development, South Korea ranked 29th in terms of global competitiveness among 61 countries surveyed.IMD is a Swiss-based institute that releases competitiveness rankings every year based on a country's economic achievements, infrastructure,
May 31, 2016
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Park arrives in Kenya to promote trade, business
South Korean President Park Geun-hye arrived in Kenya on Monday on the third leg of her swing through Africa meant to boost business opportunities with the continent that has a huge growth potential.Park was greeted by Kenyan Foreign Minister Amina Mohamed at Jomo Kenyatta International Airport. This marks the first state visit by a South Korean president in 34 years. The two countries established diplomatic ties in 1964 when Park’s late father, Park Chung-hee, and Jomo Kenyatta, late father of
PoliticsMay 31, 2016
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U.S. Republican senator reaffirms strong Seoul-Washington alliance: Seoul
A visiting U.S. Republican Senator said Monday that the alliance between South Korea and the U.S. will remain firm regardless of who will win the upcoming U.S. presidential election, Seoul's foreign ministry said. The remarks by Sen. Dan Sullivan (R-Alaska) were made at a luncheon between Lim Sung-nam, a South Korean vice foreign minister and a group of U.S. Republican senators in Seoul earlier in the day, the ministry said. Sullivan, who leads the U.S. delegation, said that the U.S. Congres
InternationalMay 30, 2016
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Kim Jong-un shows intention to better ties with China?
North Korean leader Kim Jong-un's newest expression of "great satisfaction" over a recent friendship game between the North Korean and Chinese men's basketball teams is drawing keen attention about his real intention among North Korea watchers here. On Monday, the North's official Korean Central News Agency (KCNA) reported, "Kim Jong-un expressed great satisfaction over the successful game they played with deep friendship, displaying admirable technique." The game refers to the match between t
North KoreaMay 30, 2016
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Korea to spend 2.73 tln won on development assistance for 2017
South Korea plans to spend around 2.73 trillion won (US$2.29 billion) on its development assistance projects next year aimed at helping less developed countries in many areas, the foreign ministry said Monday.The amount is up 289.2 billion won from 2.44 trillion won set aside for the country's official development assistance (ODA) efforts for this year, according to the ministry. The government earlier held an ODA committee and finalized its plan to push for a total of 1,295 projects next year
InternationalMay 30, 2016