Most Popular
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AI textbook bubble could burst, expert warns
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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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North Korean trash balloons cross border day after Seoul military parade
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Prosecution closes 'Dior bag' case amid opposition uproar
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SF Giants outfielder Lee Jung-hoo back home after injury-shortened rookie season
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Court confirms sentence for rapper who attempted to evade national service
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[Photo News] Armed Forces Day
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N. Korea may revoke 1991 Inter-Korean Basic Agreement in parliament: Seoul
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[Kim Seong-kon] Understanding uniquely American things
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Release of Pacific trade text opens fight over ratification
The long-secret text of the Trans-Pacific Partnership free-trade deal was released Thursday to support from business but vows by labor, environmental and health groups in many countries to fight ratification.The massive document, posted online by several governments, offered the first detailed look at the world's biggest free trade area, which aims to break down barriers to commerce and investment between 12 countries comprising about 40 percent of the global economy.US President Barack Obama, w
World BusinessNov. 6, 2015
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Koreans advised not to travel to Sinai Peninsula
The South Korean Embassy in Cairo has advised South Koreans in Egypt not to travel to the Sinai Peninsula where a recent plane crash killed all 224 people on board. The embassy sent an e-mail to all South Korean residents in the country Thursday, asking them to refrain from traveling to the Red Sea resort of Sharm el-Sheikh and the surrounding area while an investigation is under way to determine the cause of the Oct. 31 disaster. It also urged South Koreans currently in the Sinai Peninsula to
InternationalNov. 6, 2015
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Pyongyang lifts ban on entry of South Koreans into Gaesong zone
North Korea has averted its ban on the entry of two South Korean officials into the Gaesong Industrial Complex, the Unification Ministry said Friday. Just days ago, the North notified the South of its sudden decision to deny access to the two, including a vice chairman of the South's committee on the inter-Korean facilities near the border. The reclusive North did not clarify the reason for the measure amid speculation that it may be trying to gain leverage in the upcoming talks on the land u
North KoreaNov. 6, 2015
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Seoul shares down 0.12% in late-morning trade
South Korean stocks traded 0.12 percent lower late Friday morning as investors switched to selling mode ahead of the release of U.S. jobs data, while a bio rally offset part of the loss. The benchmark Korea Composite Stock Price Index retreated 2.55 points to 2,045.97 as of 11:20 a.m. Most blue chip shares were in negative terrain. Market bellwether Samsung Electronics declined 0.67 percent, and leading automaker Hyundai Motor slipped 0.6 percent. Bio and health care shares traded bullish
Nov. 6, 2015
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Spacecraft reveals how sun storms killed Mars' atmosphere
Mars may once have supported life but is now cold and dry, and scientists said Thursday that a stormy sun likely accelerated the loss of the Red Planet's atmosphere.In fact, researchers believe the thick, protective atmosphere that allowed ancient Mars to be warm and wet billions of years ago may have disappeared far earlier in its history than previously thought."Like the theft of a few coins from a cash register every day, the loss becomes significant over time," said Bruce Jakosky, principal
Life&CultureNov. 6, 2015
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Korea to check details of TPP, impact on economy
South Korea plans to thoroughly check the details of the Trans-Pacific Partnership agreement and determine what impact it will have on Asia's fourth-largest economy, the government said Friday. A day before the plan was unveiled at the trade promotion committee meeting in Seoul the countries that inked the multinational deal began releasing the full text of the agreement. The mega trading bloc pact between the United States, Japan, Canada, Australia, Mexico, Vietnam, Chile, Peru, New Zealand,
Nov. 6, 2015
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Samsung may face sanctions for violating investment laws
Authorities are poised to slap sanctions on Korea’s top conglomerate Samsung Group for violating investment regulations when it merged Samsung C&T with Cheil Industries in September, sources said on Friday.The Fair Trade Commission has yet to pinpoint the violations, but industry watchers say the agency is likely to zero in on the newly created investment rotunda binding the Samsung affiliates together. For instance, the newly merged entity holds stakes in Samsung Life, which holds stakes in Sam
CompaniesNov. 6, 2015
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POSCO Chief calls for China to cut steel supplies
POSCO Chairman Kwon Oh-joon lamented the global steel industry’s overwhelming supply in his first interview with a local business daily Thursday.Kwon said the oversupply, fueled mainly by ramped-up production from China, is turning the markets lopsided. With that in mind, the chairman called for China to cut its steel supply by at least 30 percent.Between 2005 and 2014, China’s steel production doubled to 820 million tons from 350 million tons. Global production also rose, but until last year th
CompaniesNov. 6, 2015
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Kenneth Bae to release book about ordeal in North Korea
Kenneth Bae, a Korean-American missionary freed last year from two years of detention in North Korea, will release a book detailing his ordeal in the communist nation, the publisher said Thursday. The book, titled "Not Forgotten: The True Story of My Imprisonment in North Korea," is scheduled for publication in May, W Publishing Group said in a release. "Next spring he will break his silence surrounding his life-changing ordeal, from his surprise arrest to a U.S. government negotiated release
North KoreaNov. 6, 2015
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Obama touts TPP as full text released
U.S. President Barack Obama touted the Trans Pacific Partnership agreement as the "highest standard trade agreement in history" on Thursday, as his administration released the full text of the deal in a first step toward congressional approval. Obama also formally notified Congress later in the day that he intends to sign the 12-nation free trade agreement, kicking off a 90-day waiting period, after which he can sign it and seek ratification from Congress. "It's the highest standard trade agre
Nov. 6, 2015
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Pyongyang calls on Japan to resolve sex slave issue
North Korea urged Japan on Friday to recognize its state responsibility for Tokyo's sexual enslavement of Korean women during World War II, claiming that there are victims in the North as well. Pyongyang's call came as the leaders of South Korea and Japan agreed to spur efforts for an early resolution of the issue of the so-called comfort women during their first summit held in Seoul on Monday. The North's Korean Central News Agency said that Japan should admit its state accountability for the
North KoreaNov. 6, 2015
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Seoul shares open higher on bio rally
South Korean stocks started higher Friday as investors piled up bio shares after Hanmi Pharmaceutical announced a mega license agreement with a French drugmaker. The benchmark Korea Composite Stock Price Index added 2.45 points, or 0.12 percent, to 2,051.86 in the first 15 minutes of trading. Bio shares got off to a strong start after Hanmi Pharmaceutical on Thursday said it reached a license agreement with Sanofi to develop a portfolio of experimental, long-acting diabetes treatments, worth u
Nov. 6, 2015
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Jeju Air takes off on stock market debut
Jeju Air Co., South Korea's top budget carrier, made a strong market debut on Friday on hopes that the low-cost carrier will benefit from steady demand for overseas and domestic air traffic. Stocks of Jeju Air were trading at 50,000 won ($44) on the Seoul bourse as of 9:27 a.m., up 1.01 percent from its opening price and far higher than its initial public offering price of 30,000 won per share. The airline, owned by retail firm Aekyung Industrial Co., was established in 2005. Since 2012, Jeju
IndustryNov. 6, 2015
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Korea to speed up tech, medical regulations
The South Korean government Friday unveiled plans to ease regulations on drones and self-driving cars, paving the way for the futuristic technologies to spur related industries. The plans were given in a brief when President Park Geun-hye presided over the fourth regulatory reform ministerial meeting at Cheong Wa Dae. “Deregulation is crucial to secure our future growth engines and to revitalize the economy,” said the president, calling for parliamentary support for the passage of related bills
TechnologyNov. 6, 2015
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Korea to begin road test of self-driving cars in Feb.
South Korea will soon begin a road test of self-driving cars as part of efforts to develop and commercialize new growth engines that include unmanned aerial vehicles, the government said Friday. The road test of self-driving cars will begin as early as February as the government designated small sections of expressways for the purpose late last month, according to the Ministry of Trade, Industry and Energy. "The plan comes as part of government efforts to develop and foster new industries part
TechnologyNov. 6, 2015
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3-4 shots of soju a day can help prevent strokes: experts
A few shots of soju, the most popular liquor in South Korea, a day can significantly lower the risk of strokes among males, a team of lcoal researchers said Friday. According to the team of neurologists at Seoul National University hospital in Bundang, drinking three to four shots of soju reduced the possibility of suffering a stroke among males by around 50 percent. It is the first time that soju, a diluted beverage containing ethanol and water, has been found to be helpful in preventing stro
TechnologyNov. 6, 2015
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Tourism industry suffers 3.4 tln won loss from MERS outbreak: report
The South Korean tourism industry suffered massive losses from the Middle East Respiratory Syndrome outbreak as travelers shunned public venues, a report showed Friday. South Korea was hit hard by the MERS outbreak since the first confirmed case in late May, losing 1.53 million in the number of inbound travelers from June to September compared with a year ago, according to the report by the Korea Culture & Tourism Institute. The loss from the falling travelers was estimated at 2.23 trillion w
IndustryNov. 6, 2015
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Korea joins U.N. convention against transnational organized crime
South Korea has become the 186th party to a United Nations convention against transnational organized crime, the government said Friday. South Korea recently ratified the U.N. Convention against Transnational Organized Crime and its three optional protocols. Justice Minister Kim Hyun-woong delivered the related documents to Miguel de Serpa Soares, under secretary general for legal affairs and U.N. legal counsel, at the U.N. headquarters in New York on Thursday (local time), the ministry said in
InternationalNov. 6, 2015
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Maldives impeaches VP accused of plotting to kill president
Maldives' Parliament voted overwhelmingly on Thursday to impeach the country's vice president, who will be charged with terrorism for plotting to kill the president, a minister said.Ahmed Adeeb is the second vice president to be impeached in three months. He has been arrested for allegedly planning to kill President Yameen Abdul Gayoom in an explosion on his speedboat on Sept. 28. Adeeb has denied involvement in the blast.The impeachment motion received 61 votes in favor and none opposed in the
World NewsNov. 5, 2015
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Hanmi Pharmaceutical signs mega license deal with Sanofi
South Korean pharmaceutical company Hanmi Pharmaceutical Co. said Thursday that it has reached a license agreement with global drugmaker Sanofi to develop a portfolio of experimental, long-acting diabetes treatments, valued at up to 3.9 billion euros (US$4.2 billion).Under the agreement, Hanmi will receive an upfront payment of 400 million euros and is also eligible for up to 3.5 billion euros in development, registration and sales milestones, as well as double-digit royalties on net sales. The
IndustryNov. 5, 2015