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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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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Ministry confirms irregularities in national soccer coach hiring
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Korea is world's most innovative nation: EU
South Korea was found to be the most innovative nation in the world, a report by the European Union said Sunday.According to the Innovation Union Scoreboard 2015 issued by the European Commission, South Korea earned 0.759 point out of 1 in global innovation performance, topping the list of EU member nations and the world's 10 major countries. It is the second consecutive time that South Korea ranked first.The performance was measured based upon 12 indicators, such as education level, research an
PoliticsNov. 1, 2015
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North Korea's income from tourism half of that from Gaeseong complex
North Korea earned tens of millions of dollars from foreign tourists in 2014, around half of the hard currency it won from the lucrative inter-Korean industrial park, a researcher said Sunday.North Korea's income from foreign tourists is estimated at $30.6 million to $43.6 million last year, considering about 95,000 Chinese tourists and 5,000 tourists from Western countries visited the country, Yoon In-ju of the Korea Maritime Institute said in a paper.North Korea's annual income from the Gaeseo
North KoreaNov. 1, 2015
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Korean shipbuilders to undergo restructuring to cope with market downturn
South Korean shipbuilders are expected to engage in painful restructuring efforts starting this month as they struggle to cope with the present market downturn, industry watchers said Sunday. The restructuring that will affect Hyundai Heavy Industries Co., Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Co., as well as many smaller sized companies, could result in the streamlining of operations, and the laying off of some 10,000 workers in the next two to three years.The la
IndustryNov. 1, 2015
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[Photo News] S-Oil provides heat for low-income households
HEAT FOR LOW-INCOME HOUSEHOLDS — S-Oil CEO Nasser Al-Mahasher (second from left) and company officials deliver 50,000 coal briquettes to low-income households and senior citizens living alone in Seoul, Thursday. Since 2008, the oil refiner has been delivering coal to underprivileged citizens in the winter as part of its “Coal Briquette of Love Program.” (S-Oil)
IndustryOct. 31, 2015
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Russian civilian plane crashes in Sinai: Egypt PM
A Russian airliner crashed on Saturday in Egypt's restive Sinai Peninsula, the office of the prime minister said in a statement. A "Russian civilian plane... crashed in the central Sinai," the office of Prime Minister Sharif Ismail said in a statement. A senior aviation official said it was a charter flight operated by a Russian company and had on board 217 passengers and seven crew members. Communication with the aircraft was lost, he added. Sergei Lzvolsky, an official with the Russian aviatio
InternationalOct. 31, 2015
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China faces mounting pressure over maritime claims
Pressure on China over its claims to most of the strategic South China Sea went up a couple of notches this week. First the U.S. sent a warship, in its most direct challenge yet to Beijing's artificial island building. Then, over Chinese objections, an international tribunal ruled it had jurisdiction in a case brought by the Philippines on maritime claims.Neither action appeared likely to stop China in its tracks, as it seeks to assert its control over resource-rich waters that it considers vita
InternationalOct. 31, 2015
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Indonesia approves budget for joint development of Korean fighter jet
The Indonesian parliament has approved the first batch of funds for joint development of a new South Korean fighter jet with stealth capabilities, government officials said Saturday, amid mounting questions here over the possibility of the very project.According to the officials, who spoke on condition of anonymity, the Indonesian parliament approved a 1.07-trillion-Rupiah (US$78.6 million) budget Friday to be invested in South Korea's fighter jet development project, called KF-X.The money is th
Foreign AffairsOct. 31, 2015
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Park holds talks with Chinese PM
President Park Geun-hye began talks with Chinese Premier Li Keqiang on Saturday ahead of a trilateral summit with Japan. Park and Li are expected to discuss ways to further boost bilateral relations and exchange opinions on issues of mutual interest, including North Korea's nuclear weapons program, according to South Korean officials. Li arrived in Seoul earlier in the day in his first trip to South Korea since 2013 when he took office. Park and Li are set to meet with Japanese Prime Mini
Foreign AffairsOct. 31, 2015
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Seoul shares to stay rangebound on U.S. rate woes next week
South Korean shares are expected to trade in a tight range next week as investors remain concerned over a possible U.S. rate increase, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,029.47 points on Friday, down 0.54 percent from last week.Earlier this week, the South Korean stock market gained ground on the back of upbeat data from China, the country's top trading partner.The market, however, later edged down as investors took a wait-and-see approach
Oct. 31, 2015
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New U.N. resolution on N.K. human rights urges N.K. to join ILO
A newly proposed U.N. resolution on North Korea's human rights situation recommends the communist nation accede to the International Labor Organization and comply with all labor related pacts, U.N. sources said Friday.The European Union-proposed resolution, which has been submitted to the Third Committee of the U.N. General Assembly, calls for referring the North to the International Criminal Court for human rights abuses, just as last year's resolution did.But this year's resolution moved a ste
InternationalOct. 31, 2015
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Lockheed Martin reverses itself, claims unaware of Korea-U.S. THAAD talks
U.S. defense giant Lockheed Martin said Friday it is not aware of any talks taking place between South Korea and the United States about the THAAD missile defense system, reversing an earlier claim that such discussions are already under way."We regret the inaccurate information that was provided by Lockheed Martin yesterday at a media event in Washington," Jennifer Whitlow, senior vice president for communications at Lockheed Martin, said in a statement. "We are not aware of any discussions bet
DefenseOct. 31, 2015
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Spanish couple convicted of murdering adopted Chinese daughter
A Spanish court on Friday convicted a couple of drugging and suffocating their 12-year-old adopted Chinese daughter, in a case that has drawn the attention of Beijing.Rosario Porto, a former lawyer, and her ex-husband, journalist Alfonso Basterra, had been accused of periodically drugging their daughter Asunta Yong Fang Basterra Porto with the sedative Orfidal for three months and finally asphyxiating her in September 2013.The child's body was found in a wood near northwestern city of Santiago d
World NewsOct. 30, 2015
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India folk singer arrested over anti-government song: lawyer
A popular folk singer was arrested in southern India on Friday for allegedly writing and singing a song that criticised the local government over state-owned liquor shops, his lawyer said.Kovan, known in Tamil Nadu for his songs against alcoholism, was arrested overnight at his residence after police found a video of the song allegedly condemning the state's popular leader, Jayalalithaa Jayaram."Kovan was arrested around 2:30 am (2100 GMT) because he sang a song and it was uploaded on social med
World NewsOct. 30, 2015
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S. Korea, China agree to get even tougher on illegal fishing
South Korea and China agreed to take even tougher actions to deal with illegal fishing activities to prevent the depletion of fish stocks around the Korean Peninsula, the government said Friday.The Ministry of Oceans and Fisheries said the two countries issued a communique earlier in the day in Beijing that aims to better tackle illegal, unreported and unregulated (IUU) fishing activities. As of last year 341 Chinese boats have been caught breaking rules.The latest understanding comes after Seou
PoliticsOct. 30, 2015
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Lotte Group chairman buys 2.1 pct stake in confectionery affiliate
Lotte Group Chairman Shin Dong-bin bought a 2.1 percent stake in Lotte Confectionery Co. on Friday, emerging as the second-largest shareholder in one of the group's major affiliates.Shin spent around 69 billion won (US$60.5 million) in buying a total of 30,000 shares in Lotte Confectionery, the company said in a regulatory filing. The purchase was made during after-hour trading.The purchase brought his stake in Lotte Confectionery to 8.78 percent, which exceeded a 6.83 percent stake owned by his
Oct. 30, 2015
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[Weekender] Korea’s systematic recycling drive boosts sustainability
Having experienced rapid economic growth in the past few decades, Korea has proactively implemented recycling-oriented measures against the growing waste.The government implemented waste schemes during industrialization in the ’60s and ’70s, and in 1992 it began to actively push for recycling under the recycling promotion act. The state set legal limits on the use of packing materials and disposable products; imposed waste fees on manufacturers that make unrecyclable products; and provided suppo
NationalOct. 30, 2015
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Chanel hikes handbag prices
The Chanel 2.55 medium size bag. Chanel.comFrench luxury fashion house Chanel on Friday announced a hike in the price of its iconic handbags by up to 7 percent in Korea starting Nov. 1, in order to “be on par with Chanel prices globally.”The notoriously reclusive brand said it would readjust the price tags twice a year ― which analysts say could lead to an unstable future for the bags that are often used for “investment purposes” in Korea. According to Chanel Korea, the items subject to the pric
IndustryOct. 30, 2015
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[Weekender] Making use of garbage
Korea’s successful economic growth not only brought wealth and prosperity but also posed inevitable urban challenges, especially the waste.Bombarded with increasing amounts of trash, Seoul has striven to cut down on garbage with various recycling-oriented measures since the concept was first introduced here in 1992.Under tough green initiatives, the government has pushed for a systematic waste sorting system to boost recycling. Once individuals separate the garbage by type -- ranging from paper,
NationalOct. 30, 2015
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Defense agency asserts KF-X project is on right track
South Korea’s defense procurement agency reiterated Friday that it was capable of developing fighter jets with key technologies that the United States had refused to transfer to Seoul.Defense Acquisition Program Administration Minister Chang Myoung-jin testified before lawmakers that the system for the Korean Fighter Experimental (KF-X) project aimed at producing 120 combat jets would be completed by 2025 and that the first round of production would be made between 2025 and 2028. With additional
DefenseOct. 30, 2015
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[Weekender] Industry jumps on upcycling bandwagon
In October 2012, actress Moon So-ri faced a bank of flashing cameras as she walked the opening red carpet at the Busan International Film Festival, clad in a white dress. But this time, what made the headlines the next morning was not her looks or acting skills, but her costume that was made of old dress shirts and parachutes. The maker of Moon’s dress, Kolon Industries, is one of the rising number of businesses that have in recent years been jumping on the green bandwagon here, transforming was
NationalOct. 30, 2015