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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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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Yoon, Ishiba discuss cooperation on N. Korea in 1st phone talks
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Man gets suspended sentence over threat to blow up plane
A court Wednesday sentenced a 33-year-old man to one year in prison suspended for two years for threatening to blow up a plane a former South Korean first lady took to Pyongyang. Judge Kim Yun-seon of the Seoul Central District Court suspended the sentence for the man, surnamed Park, for two years, saying, "The accused committed the crime while engaging in activities related to North Korea's human rights situation, and he has not been punished except for being fined." He was accused of writing
Social AffairsOct. 28, 2015
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Korea's housing market keeps improving in Q3: report
South Korea's housing market continued to show signs of improvement in the third quarter, aided by a significant rise in the number of home transactions, as well as a steady increase in prices, a report showed Wednesday.In the three-month period ending on Sept. 30, home transactions spiked 21 percent on-year to 290,937, according to the report by the state-run Korea Development Institute.The sharp increase follows the 39.1 percent on-year surge in the second quarter and the 18.3 percent gain tal
Oct. 28, 2015
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China to expand memorial hall honoring anti-Japanese Korean independence hero
China plans to double the size of a memorial hall honoring a revered Korean independence hero who assassinated a prominent Japanese colonial leader more than a century ago in China, the memorial hall's officials said Wednesday. Chinese railway authorities opened the memorial hall earlier last year honoring the Korean independence hero Ahn Jung-geun, who assassinated the Korean Peninsula's first Japanese governor-general, Hirobumi Ito, at a railway station in the northeastern Chinese city of Harb
Foreign AffairsOct. 28, 2015
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LG Uplus Q3 net jumps 38%
LG Uplus Inc., South Korea's No. 3 mobile carrier, said Wednesday its third-quarter net profit soared 38.4 percent from a year earlier due largely to a solid growth in its mobile business. Net income reached 113.6 billion won ($100.2 million) in the July-September period, compared with 82 billion won the previous year, the company said in a regulatory filing. The figure beat the market consensus of 106.3 billion won in a poll surveyed by Yonhap Infomax, the financial news arm of Yonhap News Agen
Oct. 28, 2015
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S. Korea to hold photo exhibition of iconic mountain range of two Koreas
The Unification Ministry said Wednesday it will hold a photo exhibition of a mountain range that runs most of the length of the Korean Peninsula to mark the 70th anniversary of Korea's liberation from Japan's 1910-45 colonial rule.The ministry said it will display a total of 70 photos of a chain of mountains, known as Baekdudaegan, taken by Roger Shepherd, a mountaineer from New Zealand, until Nov. 10 in Islan, north of Seoul.Baekdudaegan, described as the backbone of the peninsula, starts from
CultureOct. 28, 2015
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Seoul shares down 0.31% in late-morning trade
South Korean stocks traded 0.31 percent lower late Wednesday morning, weighed down by a drop in builders and logistics firms, analysts said. The benchmark Korea Composite Stock Price Index fell 6.38 points to 2,038.27 as of 11:20 a.m.Hyundai Glovis, the logistic unit of top automaker Hyundai Motor, plunged more than 7 percent following a lackluster earnings report released earlier. Major builder Daelim Industrial retreated nearly 4 percent. In contrast, foodmakers trended higher. Confectionery m
Oct. 28, 2015
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20 Lotte affiliates meet IPO requirements
One in four unlisted affiliates of South Korea's retail giant Lotte Group are found to meet requirements for a stock market debut, data showed Wednesday.The conglomerate has pledged to simplify its governance structure and boost its managerial transparency through a set of measures, including initial public offerings, after a bitter family feud over control of the retail conglomerate. Currently, Lotte has eight publicly traded affiliates here, with the key units being linked through unlisted Jap
CompaniesOct. 28, 2015
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Economic uncertainties still persist: BOK chief
The head of South Korea's central bank drew a rather gloomy picture for the future of the local and global economies Wednesday, saying they both face great uncertainties caused by the world's two largest economies. "It is hard to think of a time when the domestic and global economies did not face uncertainties, but I believe the keyword that best describes recent conditions in the global economy is uncertainty," Bank of Korea (BOK) Gov. Lee Ju-yeol said in a monthly breakfast meeting with econom
Latest NewsOct. 28, 2015
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Japan scholars urge Abe to address 'comfort women' issue during summit
Japanese Prime Minister Shinzo Abe should address the thorny issue of wartime sex slavery when he holds summit talks with President Park Geun-hye next week, Japanese scholars said Wednesday.South Korea has proposed the two leaders hold a separate bilateral meeting in Seoul next Monday following a trilateral summit with China.Park and Abe have yet to meet one-on-one as bilateral ties have frayed over various historical and territorial disputes. If they meet next week, a key focus of public attent
Foreign AffairsOct. 28, 2015
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Korea's industrial electricity sales gain 1% in Q3
Electricity consumption by South Korea's industrial sector rose moderately from a year earlier in the third quarter, fueled by higher demand from automakers, chemical producers and machinery equipment companies, the government said Wednesday.Sales of industrial electricity came to 68.63 billion kilowatt-hours in the July-September period, up 1 percent from the same period last year, according to the Ministry of Trade, Industry and Energy.Electricity sales serve as a barometer of industrial activ
Oct. 28, 2015
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Korean housing permits jump in Q3
Construction permits issued for new homes jumped 21 percent in the third quarter from a year earlier, data showed Wednesday, underscoring a strong sign of recovery in the country's real estate market.The number of new home permits issued came to 70,121 units in the July-September period, up from 58,024 from the year earlier, according to the data compiled by the Ministry of Land, Infrastructure and Transport.The third-quarter rise marked the ninth consecutive on-quarter increase, with the pace a
Oct. 28, 2015
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Korea's seaport cargo grows 2.2% on-year in 2015
Cargo processed at South Korean seaports rose 2.2 percent in the first nine months of 2015 from the same period last year as both import-export cargo and domestic cargo increased from a year before, the government said Wednesday.In the January-September period, the volume of cargo handled at the country's seaports came to 1.07 billion tons, compared with 1.05 billion tons in the same period last year, according to the Ministry of Oceans and Fisheries.Import-export cargo gained 2.3 percent on-yea
IndustryOct. 28, 2015
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Sales of outlets, department stores rise in Sept.
South Korea's major department stores and discount chains saw their sales increase in September from a year earlier on increased holiday shoppers, government data showed Wednesday.The combined sales of three department store chains -- Hyundai, Lotte and Shinsegae -- rose 2.8 percent on-year last month, according to the Ministry of Trade, Industry and Energy.The total sales of three major discount outlet chains -- E-Mart, Homeplus and Lotte Mart -- also gained 7 percent from a year ago in Septemb
IndustryOct. 28, 2015
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3-D exhibit to bring Korean cultural properties from abroad
Dozens of Korean cultural properties preserved outside South Korea will be displayed in the form of 3-D videos in Seoul starting Wednesday, the cultural agency said.The exhibit at the National Palace Museum of Korea running until Dec. 27 has recreated 20 cultural properties in the virtual format, the Cultural Heritage Administration said. The United States, Canada, France, Russia and Japan are some of the current locations of the items.LG Electronics provided around 1.2 billion won ($1.1 million
CultureOct. 28, 2015
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Hyundai Glovis Q3 net down 82%
Hyundai Glovis Co., the logistics unit of South Korean auto giant Hyundai Motor Group, said Wednesday that its third-quarter net profit plunged 82.3 percent on-year amid overall sluggish demand in the auto market. Net profit came to 15.69 billion won ($13.81 million) during the July-September period, down from the previous year's 88.51 billion won, the company said in a regulatory filing. Operating profit grew 13.4 percent on-year to 178.45 billion won during the third quarter, and sales expande
Oct. 28, 2015
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Korea calls for peaceful resolution of disputes in South China Sea
A senior presidential official renewed South Korea's calls Wednesday for peaceful resolution of territorial disputes in the South China Sea."South Korea has been strongly calling for restraint of any action that affects peace and stability in the region," the official told reporters, adding that disputes should be resolved in accordance of international norms.South Korea has a strategic interest in the South China Sea as it is a key shipping route through which 30 percent of South Korea's export
PoliticsOct. 28, 2015
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Carmakers' cumulative production edges up in Sept.
Cumulative local production by automakers in South Korea for 2015 edged up for the first time in September, a turnaround from a prolonged slump seen throughout the year, industry data showed Wednesday.According to the data by the Korea Automobile Manufacturers Association, five major automakers operating here produced a combined 3,345,199 vehicles during the January-September period, up 0.8 percent from a year earlier.The increase followed a 0.4 percent decline they had posted until the previous
IndustryOct. 28, 2015
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Seoul shares turn lower on utility, shipyard losses
South Korean stocks turned lower after opening a tad higher Wednesday, led by losses in utilities and shipyards, analysts said. The benchmark Korea Composite Stock Price Index inched down 1.87 points, or 0.09 percent, to 2,042.78 in the first 15 minutes of trading. State-run electricity provider Korea Electric Power Corp. fell more than 1 percent, with Hyundai Heavy Industries, a major shipyard, dipping nearly 3 percent. Insurances companies, however, started bullish. Samsung Life Insurance, the
Oct. 28, 2015
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Major shipyards on track to suffer record loss this year
South Korea's major shipbuilders, led by Daewoo Shipbuilding & Marine Engineering Co., are expected to rack up a record loss this year due mainly to increased costs from a delay in the construction of offshore facilities, industry sources said Wednesday.The combined operating loss by the country's big three shipyards -- Daewoo Shipbuilding, Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- is estimated at 7.8 trillion won ($6.86 billion) for the year, they said.Daewoo Shipbuilding
IndustryOct. 28, 2015
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Economic uncertainties still persist: BOK chief
The head of South Korea's central bank drew a rather gloomy picture for the future of the local and global economies Wednesday, saying they both face great uncertainties caused by the world's two largest economies."It is hard to think of a time when the domestic and global economies did not face uncertainties, but I believe the keyword that best describes recent conditions in the global economy is uncertainty," Bank of Korea Gov. Lee Ju-yeol said in a monthly breakfast meeting with economic scho
Oct. 28, 2015