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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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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'Cheese in the Trap' movie to star actor Park Hae-jin
Actor Park Hae-jin, who starred as the lead character in the TV series “Cheese in the Trap,” has been cast for the same role in the upcoming movie adaptation, the film’s publicist said Tuesday. The movie will be jointly produced by Mountain Movement, a Korean production company, and its Chinese partner in Shanghai, HNS HQ said in a statement. Park Hae-jin stars in tvN’s “Cheese in the Trap” (tvN) Park, who played the enigmatic male protagonist Yoo Jung in the cable TV series, will stay on for th
FilmMay 24, 2016
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Samsung Asset Management mulls ETF joint venture in China
South Korea’s Samsung Asset Management said it will seek to establish a joint venture with China’s CCB Principal Asset Management to operate exchange-traded funds in China.The nation’s largest asset management firm, with 200 trillion won ($167 billion) assets under management, said it has agreed to provide advisory for three to five new ETF products to be launched under the Chinese company within this year. The Korean company also agreed to establish an advisory services provider in Beijing by S
May 24, 2016
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Creditors seek to sell Hyundai Cement in July: reports
Creditors of Hyundai Cement under a debt workout program seek to sell their majority stake in the company as early as July, local news reports said Tuesday.State-run Korea Development Bank, the largest stakeholder of Hyundai Cement with 27.94 percent stake, and other creditor banks including KEB Hana Bank hold a combined 95 percent stake in the Korean maker of cement and ready-mix concrete.The speeding up of the sales process comes as uncertainties over the cement maker’s payment guarantee in th
May 24, 2016
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Internet banking users, transactions rise in Q1
Korea's Internet banking service industry continued to rise at a fast clip in the first quarter with both the number of users and daily transactions reaching record highs, central bank data showed Tuesday.In the three months ended March 31, the number of Internet and mobile banking service users came to 119.8 million, up 2.5 percent from the previous quarter, according to the data from the Bank of Korea (BOK).The number is the sum of all registered users of 17 Internet and mobile banking service
May 24, 2016
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KDI cuts 2016 growth outlook to 2.6 pct
Korea's top state-run think tank revised down its growth outlook for the local economy Tuesday, citing a continued slump in exports and sluggish demand at home and abroad.The Korea Development Institute (KDI) said Asia's fourth-largest economy was expected to expand 2.6 percent this year, down from 3 percent forecast six months earlier.The latest projection is the most pessimistic outlook yet offered by a local institute. Bank of Korea (Yonhap)The Bank of Korea predicted 2.8 percent growth in it
May 24, 2016
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Prosecution indicts retired Army brigadier general in corruption case
Korean prosecutors on Tuesday indicted a retired Army brigadier general on charges of taking kickbacks from a defense contractor for peddling influence in a 2014 military procurement deal.The investigators at the Seoul Central District Prosecutors' Office said that they indicted and arrested the former official of the Defense Acquisition Program Administration (DAPA), surnamed Hong, for pocketing 54 million won ($45,477) from a local defense firm in 2014.Hong is alleged to have used his influenc
Social AffairsMay 24, 2016
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More N.K. restaurant staff in China escape for possible defection: Seoul
South Korea's unification ministry said Tuesday that a small number of North Korean restaurant staff have recently escaped their workplace in China.The confirmation comes a day after local media reported two or three North Koreans are moving to a third country after fleeing a Pyongyang-run restaurant in China, according to local media reports. The reports claimed the North Koreans may have escaped from a restaurant in either Xian or Shanghai.The case is the second escape by North Korean restaura
North KoreaMay 24, 2016
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Opposition parties urge Park to support hearings bill
South Korea's opposition parties on Tuesday urged the presidential office to support a controversial bill that will enable parliament to open hearings more often, adding that the move will not lead to disruptions in state affairs as claimed by the government.The remarks came amid speculation that President Park Geun-hye may veto the controversial bill. Park is expected to determine whether or not to endorse the bill after she returns home from her overseas trip.The revision to the National Assem
PoliticsMay 24, 2016
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China's imports of N. Korean goods plunge 22.3% in April
China's imports of North Korean goods nosedived 22.3 percent on-year in April, data showed Tuesday, after tightened U.N. sanctions against Pyongyang started to bite. The Chinese customs data was compiled by the Beijing unit of South Korea's Korea Trade and Investment Promotion Agency.The plunge in the imports of North Korean goods suggested that China, the North's economic lifeline, has been strictly implementing the latest U.N. sanctions, which were adopted in early March following the North's
North KoreaMay 24, 2016
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Return on gov't funds shrinks in 2015
The average return on government-operated public funds dropped significantly from a year earlier in 2015, but it was largely due to record low interest rates, the finance ministry said Tuesday.The average yield of 44 separate government funds came to 2.41 percent last year, compared with 3.04 percent the previous year, according to the Ministry of Strategy and Finance.The on-year drop was mostly attributed to low interest rates."Earnings of the public funds reviewed dropped from a year earlier d
IndustryMay 24, 2016
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Kim Jong-un inspects salt production
North Korean leader Kim Jong-un visited a saltworks in an apparent move to encourage salt production to better meet the country's demand for the key mineral, the North's official news agency reported Tuesday.The North's Korean Central News Agency said that Kim visited the Kwisong Saltern to learn about salt production from underground ultra-saline water. The plant is run by the Korean People's Army.Kim's latest visit to the salt works is the fifth in his inspection of industrial sites following
North KoreaMay 24, 2016
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Seoul municipality to launch full probe into humidifier sterilizer case
The Seoul metropolitan government on Tuesday said it will conduct a full-scale investigation to see if any city-run preschools and nursing homes have used a set of allegedly toxic humidifier disinfectants, as part of its efforts to assuage growing public health concerns.The municipality said it will look into city-run or public preschools, nursing homes and welfare institutions for the physically challenged to check their past records of using humidifier disinfectants, and call on victims to rep
Social AffairsMay 24, 2016
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Six Korean banks make global top 100: data
Six South Korean banks made the global top 100 banks list, though none of them were included in the top 50 bracket, data showed Tuesday.The six South Korean banks in the top 100 are KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Bank, Nonghyup Financial Group and the Industrial Bank of Korea, according to an analysis of data of Bankscope, a global database on information about banks worldwide.The list is based on Tier 1 capital, a core measure of a bank's financial stre
May 24, 2016
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Korea to sign deal with Sri Lanka on new town development
South Korea's government said Tuesday that it plans to sign an initial deal with Sri Lanka on the development of the Sri Lankan capital of Colombo and adjacent areas.Kang Ho-in, minister of land, infrastructure and transport, is set to sign a memorandum of understanding with his counterpart from Sri Lanka, Patali Champika Ranawaka, at a Seoul hotel later in the day, according to the ministry.The deal calls for, among other things, South Korea and Sri Lanka to primarily cooperate on projects to d
Foreign AffairsMay 24, 2016
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UN chief Ban could run for president under right conditions: opposition whip
Park Jie-won, floor leader of the minor opposition People's Party, said Tuesday that U.N. Secretary-General Ban Ki-moon could run in South Korea's presidential race under the right conditions if he receives the support of conservatives."Ban has considerable political ambitions, and if the pro-Park Geun-hye faction in the ruling Saenuri Party rallies around him, he could run for president," the three-term lawmaker who was again elected in the April 13 polls said during an interview held with SBS
PoliticsMay 24, 2016
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Samsung depends heavily on China, Taiwan panels for TV production
Samsung Electronics Co. has sharply increased its dependence on Chinese and Taiwanese panel suppliers for its TV production, data showed Tuesday.The ratio of internal supply came to only 25.1 percent in March, while shipments from Chinese and Taiwanese firms accounted for 68.4 percent, according to market researcher IHS and industry figures here.The South Korean tech giant's affiliate Samsung Display Co. provided it with 885,000 panels during the period, when its Taiwanese rival Innolux offered
IndustryMay 24, 2016
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4 out of 100 with life insurance die from suicides
Four out of 100 South Koreans subscribed to life insurance policies died from suicides, the biggest cause of death for those in their teens to 30s, an institute's tally showed Tuesday.A close study of life insurance payments in the 2012-2014 period showed that of 177,706 deaths of policyholders, 7,490, or4.2 percent, were from suicides. Researchers at the institute said the number of suicides is likely higher since deaths from suicides were applied limitedly, leaving out many forms through which
Social AffairsMay 24, 2016
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Challenges lie ahead for Hyundai Merchant even after charter rate cut
Financially troubled Hyundai Merchant Marine Co. may face more challenges even after the country's No. 2 shipper successfully completes its drawn-out negotiations with owners of chartered ships to cut their leasing rates, industry sources said Tuesday.This week, the shipping line has to wrap up its months-long negotiations to lower its charter rates by 28 percent on average, one of the prerequisites that its creditors, led by state-run Korea Development Bank, have demanded in return for thorough
IndustryMay 24, 2016
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Korea eyes military cooperation with African countries
South Korea plans to seek ways to increase military cooperation with Africa as President Park Geun-hye embarks on her trip to three African countries including Uganda this week, a government official said Tuesday.Seoul's move will help weaken North Korea's military network with Africa and make it possible to strengthen cooperation over the international sanctions regime imposed on the communist country, according to the official.The chief executive will embark on her African tour and trip to Fra
DefenseMay 24, 2016
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Nearly 60% of children supporting parents financially: survey
Nearly 6 out of 10 South Koreans are supporting their parents financially, but people's thinking about bearing responsibility for aging parents has changed considerably over the past decade, as they demand more from society and less from children, a recent survey showed Tuesday.The survey, conducted by the Korea Institute for Health and Social Affairs, canvassed 1,000 people aged 20-64 by telephone between August and September last year. Responses were drawn from those with at least one of their
Social AffairsMay 24, 2016