Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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Delta Air Lines to launch new Incheon-Salt Lake City route in June next year
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Korea, China, Japan vow to address yellow dust and climate change
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4 in 10 illegal aliens entered S. Korea without visas last year: data
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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Elliott drops suit against Samsung C&T
A U.S. hedge fund dropped a suit filed against Samsung C&T to end their months-long dispute over the merger between two Samsung units. Elliott Associates dropped the case on Wednesday after reaching an agreement with Samsung C&T, according to a news report. A recent probe into Elliott on suspicions of a breach of local disclosure rules regarding its previous acquisition of Samsung C&T shares seems to have pushed the hedge fund into making the latest decision, industry sources said.As a stakehol
March 25, 2016
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[Market Now] STX Engine considers selling communication business
STX Engine, a listed diesel engine manufacturer, said in its regulatory filing that it is considering selling its communication equipment business as part of its debt restructuring.“The company has been in talks with its creditors (led by state-run Korea Development Bank) regarding the possible sale of the communication equipment unit as part of its self-rehabilitation plan,” STX Engine said in a disclosure filing.STX Engine has been in a creditor-led debt workout since September 2013 following
March 25, 2016
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Seoul shares open higher on Wall Street gains
South Korean share prices opened in the positive following overnight gains in the U.S. markets. The benchmark Korea Composite Stock Price Index added 0.68 point, or 0.03 percent, to 1,986.65 in the first 15 minutes of trading. As of 10:05 a.m., the index was trading flat at 1985.92. Traders monitor Seoul share prices at a local bank. (Yonhap)Overnight, the Dow Jones industrial average inched up 0.08 percent to close at 17,515.73, while the tech-heavy Nasdaq rose 0.1 percent to 4,773.51.Large mar
March 25, 2016
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[Market Now] Lotte Chilsung seeks acquisition of Pepsi bottler in Pakistan
Lotte Chilsung Beverage, a listed subsidiary of Lotte Group, said in its disclosure statement that it is currently negotiating a deal to take over a PepsiCo bottler in Pakistan.It added that the company would further disclose details when the deal progresses in three months.This comes as the Korea Exchange sought clarifications from the soft drink maker to verify reports that it is seeking an acquisition of Lahore PepsiCo in Pakistan last month.Lotte Chilsung, whose majority shareholder is Lotte
March 25, 2016
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Cardinals' Oh Seung-hwan looks shaky, issues first walk
St. Louis Cardinals reliever Oh Seung-hwan looked shaky in his seventh spring appearance Thursday in Florida, issuing his first walk en route to giving up a run in one inning's work.Oh also gave up a pair of hits against the Washington Nationals at Space Coast Stadium in Viera, Florida, as the Cards fell 8-2.The South Korean right-hander relieved Sam Tuivailala to start the bottom of the eighth, with St. Louis down 7-2, making his first appearance in three days. He retired Reed Johnson on a flyo
BaseballMarch 25, 2016
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N.K. leader warns Seoul‘s gov’t organizations will be destroyed
North Korean leader Kim Jong-un has called on the military to be ready to strike South Korea's presidential office and government bodies, the North's state media said Friday.The North's leader said that the North's military should be ready to "ruthlessly" destroy Seoul's government bodies during his inspection of long-range artillery exercises, according to the Korean Central News Agency."All soldiers should be nurtured into warriors full of combat spirit and be on high alert," Kim was quoted as
North KoreaMarch 25, 2016
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Mandate of U.N. panel of experts on N.K. sanctions extended until next year
The mandate of the U.N. panel of experts charged with monitoring sanctions on North Korea has been extended until April next year.The U.N. Security Council unanimously decided to extend the mandate, "determining that the proliferation of nuclear, chemical and biological weapons and their delivery means remained a threat to international peace and security," the U.N. said in a statement.The 15-member council also decided that the panel's mandate should apply with respect to measures imposed in th
North KoreaMarch 25, 2016
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N. Korea‘s solid-fuel engine appears to be for upper-stage rocket
The solid-fuel rocket engine North Korea tested this week appears to be for the upper stage of a satellite launcher or a long-range missile, but the communist nation is believed to be still many years away from developing such missiles, a U.S. expert said Thursday.North Korea's state media claimed earlier Thursday the country successfully conducted a ground test of a solid-fuel rocket engine, with leader Kim Jong-un saying that the test "helped boost the power of ballistic rockets capable of mer
North KoreaMarch 25, 2016
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Obama to hold one-on-one summit with China‘s Xi on margins of nuclear summit
U.S. President Barack Obama will hold one-on-one talks with Chinese President Xi Jinping on the sidelines of next week's Nuclear Security Summit in Washington, the White House announced Thursday.The meeting, set for March 31, will "present an opportunity to advance U.S.-China cooperation on a range of issues of mutual interest, while also enabling President Obama and President Xi to address areas of disagreement constructively," White House press secretary Josh Earnest said without elaborating.N
North KoreaMarch 25, 2016
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Lotte aims for No.5 spot in global confectionery market
Lotte Confectionery of South Korean retail giant Lotte Group is seeking to step up cooperation with its Japanese sister company in a bid to elevate its global status, according to the confectionery unit chief. “We have been stepping up collaboration with the Japanese operation with the goal of becoming the world’s fifth-largest confectionery manufacturer by 2020,” Lotte Confectionery CEO Kim Yong-soo told Korean media Thursday. Lotte Choco pies (Lotte Confectionery)Kim said the company would be
IndustryMarch 25, 2016
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Global concerns weigh on eurozone recovery: ECB
Economic recovery in the eurozone is set to continue in the coming months, but not as fast as hoped owing to global uncertainties and slowing growth in emerging economies, the European Central Bank said Thursday. "The economic recovery in the euro area is continuing, albeit with lower than expected growth at the beginning of the year on the back of a weaker external environment," the ECB wrote in its latest economic bulletin. Recovery "continues to be dampened by subdued growth prospects in emer
World BusinessMarch 24, 2016
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LINE messenger tops 1 bln user mark
The number of LINE messenger users operated by the Japanese arm of South Korea's top portal provider Naver Corp. has surpassed the 1 billion mark five years after its launch in 2011, the company said Thursday.The number of monthly active users, or MAU, of the social networking mobile application stood at 215 million globally as of December last year, Line Corp. said at the LINE Conference Tokyo 2016 held in Japan.The messenger operator said it is making significant growth in its sticker, game, c
TechnologyMarch 24, 2016
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S. Korea, France vow to jointly tackle N.K. provocations, human rights
South Korea and France vowed Thursday to jointly tackle North Korea's provocations and human rights abuses as they marked a key anniversary in their bilateral ties.At a forum celebrating 130 years of diplomatic relations, Foreign Minister Yun Byung-se and his French counterpart, Jean-Marc Ayrault, noted the threats posed by North Korea's nuclear and missile programs, and the acute suffering of its people."North Korea, from the outset of the year, is threatening the entire world with its fourth n
North KoreaMarch 24, 2016
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[Newsmaker] Brussels suicide brothers abandoned crime for jihad
Long before blowing himself up in a crowd of innocent people, leaving behind a desperate will on his computer, suicide bomber Ibrahim El Bakraoui and his brother Khalid lived the lives of the classic Brussels hoodlum.Carjackings, robberies and shoot-outs with police were just some of the convictions collected by the brothers who took part in the deadly train and airport attacks in Brussels.Baby-faced Ibrahim, 30, one of two suicide bombers at the airport, had been handed a nine-year sentence in
InternationalMarch 24, 2016
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[Graphic News] Number of Korean TB patients lowest in 15 years
The number of newly diagnosed tuberculosis patients in South Korea last year was the lowest in 15 years, government data showed Thursday. According to the report, 63.5 per 100,000 Koreans were newly diagnosed with the infectious disease last year. This is 8.1 percentage points lower than the year before. However, the report showed the number of newly diagnosed patients aged between 10 and 14 had also increased over the same period, from 4.2 patients per 100,000 to 5 patients. South Korea has the
Social AffairsMarch 24, 2016
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Kenyan man in ‘chopstick’ murder found sane
A Kenyan asylum seeker, who murdered a Korean employee at an Internet cafe in Gwangju earlier this month, has been found to be mentally sound, as police continue efforts to identify the motive behind his crime. According to the Gwangju District Prosecutors’ Office, a medical checkup has suggested that the 28-year-old man is not mentally ill. The checkup was done as prosecutors had faced difficulties in investigating the murder case due to his unusual behavior in a prison cell. The man is seen in
Social AffairsMarch 24, 2016
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[Editorial] Outside directors
Former government officials still account for a large share of the outside directors serving on the boards of major corporations. This is not desirable given the role they are expected to play. A recent survey by CEO Score, a corporate performance evaluation service, showed about 41 percent of the outside directors appointed this year by the listed subsidiaries of the nation’s top 30 business groups were former government officials. The survey said that compared with last year, the share of ex-g
EditorialMarch 24, 2016
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[Editorial] Democratic deficit
The three main political parties in Korea -- the ruling Saenuri Party, The Minjoo Party of Korea and the new People’s Party -- have all wrapped up the process of nominating candidates for the April 13 general election. Hence, a review of how they selected their candidates is in order. In Korea, there has never been a general election in which political parties picked their candidates without any fuss, and this was no exception. In fact, the nomination process at each party was more conflict-ridd
EditorialMarch 24, 2016
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[Adam Minter] Is China exporting environmental problems?
One of the best pieces of news in years is that China is finally getting serious about cleaning up its environment. Its renewable energy use is growing rapidly while its coal use is declining. Air pollution targets are being tightened. Contaminated farmland is finally getting high-level attention. Yet all that good could be undermined if China simply exports its environmental problems elsewhere.A case in point is China’s campaign to protect its forests. For years, logging ran rampant as the coun
ViewpointsMarch 24, 2016
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DSME may face investor class-action suit over false earnings report
Daewoo Shipbuilding & Marine Engineering, one of the nation’s top three shipbuilders, may face a class-action lawsuit by long-term investors over its past false earnings report, according to industry sources.The move was detected a day after the shipbuilder restated the past earnings Wednesday, with its external audits pointing out that the loss of 2 trillion won ($1.7 billion) in the 2015 earnings report should be dated 2013 and 2014.(Yonhap)“Some investors are considering legal action against
IndustryMarch 24, 2016