Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Controversial cult leader’s sentence reduced to 17 years
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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BTS-themed moon jar to be unveiled on Hangeul Day
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[Robert Fouser] Why the US election looks so close
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Seoul, Tokyo set for 1st working-level defense talks in over 2 yrs
South Korea and Japan were to hold a working-level defense policy meeting Wednesday to discuss regional security and cooperation on the defense segment. The 21st round of the working-level defense policy conference will be held at the Defense Ministry in Seoul later in the day, with the South Korean side headed by Yoon Soon-ku, the ministry's director general on international policy, and the Japanese side headed by his counterpart, Atsuo Suzuki, according to the ministry. The meeting marks the r
Foreign AffairsAug. 5, 2015
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Unused cards continue to drop in June
The number of unused credit cards in South Korea continued its downturn last month on financial authorities' stepped-up efforts to reduce inactive cards in the market, data showed Wednesday.The number of dormant credit cards fell 15.4 percent on-year to 8.34 million at the end of June, according to data compiled by the Credit Finance Association. A dormant credit card refers to one that has not been used for at least one year.The association expected the figure to go down to around 7 million at
Aug. 5, 2015
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Mercedes-Benz Korea expects to sell over 40,000 cars this year
Mercedes-Benz Korea, the local importer of the luxury German car brand, will be able to sell over40,000 units in South Korea this year given the company's first half performance, the vice president of sales has said.The company will also focus more on launching SUVs over sedans during the remainder of the year, with a plan to introduce all its SUV models in South Korea going forward, Choi Duk-jun added. "We sold around 22,000 units in the first half and expect to sell as many in the latter half,
MobilityAug. 5, 2015
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Koreans most proud of the nation's advance to World Cup
South Koreans consider the country's first-ever advance to the semifinals in the FIFA World Cup as the most honorable moment in history since the Korean liberation from Japanese colonial rule, a survey showed Wednesday.Public broadcaster MBC surveyed 3,000 adults via Gallup Korea, and 29.5 percent of the respondents cited the advance to the semifinals in the World Cup co-hosted by South Korea and Japan in 2002 as the nation's top moment of pride.The figure was followed by 19 percent who chose th
SoccerAug. 5, 2015
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Finance minister urges public firms to adopt wage peak system
South Korea's public corporations should adopt a wage peak system by the end of August in order to help more young people find jobs, the country's top economic policymaker said Wednesday.Chairing a meeting of some 40 government ministers and heads of state-run corporations, Finance Minister Choi Kyung-hwan said the implementation of the wage system is critical for the future of the country."Ministers and heads of public corporations must take a resolute stance on this matter and push forward wag
Aug. 5, 2015
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Wine tops list of alcoholic drink imports in H1
Wine was atop the list of South Korea's alcoholic beverage imports in the first half of this year, outpacing hard liquors for the first time, data showed Wednesday. Wine imports rose 5.5 percent on-year to $94.43 million in the January-June period, taking up the highest share of the total alcoholic drink imports at 24.9 percent, according to the data compiled by the Korea International Trade Association.It marks the sixth consecutive year that first-half wine imports have increased from a year e
IndustryAug. 5, 2015
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Samsung, LG remain strong in North America
Samsung Electronics Co. and LG Electronics Inc., South Korea's top smartphone makers, still hold a strong foothold in North America with their premium lineups, despite the growing challenge from cheaper Chinese rivals, data showed Wednesday. Samsung and LG took up 32 percent and 15 percent of the market in the region in the second quarter, ranking second and third, respectively, according to the data by market tracker Strategic Analytics. When combined with the share of Apple Inc., the reigning
TechnologyAug. 5, 2015
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Samsung to cut shipment of PC DRAMs, focus on mobile
Samsung Electronics Co. plans to cut its output of PC dynamic random access memory chips and tap deeper into the mobile segment ahead of the release of U.S. Apple Inc.'s new iPhone models, industry sources said Wednesday.Samsung is set to reduce the shipment of standard DRAMs used in personal computers, eventually by 30 percent, reported the Taiwan-based Economic Daily News, a move apparently aimed at bolstering its mobile DRAM capability."We cannot give details on the reduction of the productio
TechnologyAug. 5, 2015
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S. Koreans buy new smartphones every 14 months: poll
South Korean smartphone users change their devices every 14 months, with teens changing their handsets in less than a year, a poll showed Wednesday.According to the survey conducted by the Korea Information Society Development Institute, South Koreans on average used their handsets for 19 months, but those using smartphones changed their devices sooner.The poll was conducted on 10,172 respondents, where 92.4 percent said they had a mobile phone.Among the age groups, South Korean teenagers used t
Aug. 5, 2015
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Ex-first lady leaves for N. Korea on hope of better inter-Korean ties
The widow of former President Kim Dae-jung left on a rare visit to North Korea Wednesday, hoping that her trip could pave the way for inter-Korean dialogue and cooperation in a landmark year. (Yonhap)Lee Hee-ho, 93, who was the South's first lady during Kim's five-year tenure until 2003, arrived in Pyongyang earlier in the day on a local plane for a four-day humanitarian trip.Lee's high-profile visit is in the spotlight on the hopes that it may help ease tension on a divided peninsula as this ye
North KoreaAug. 5, 2015
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Kerry has no plans to meet with N. Korean FM: State Department
U.S. Secretary of State John Kerry has no plans to meet one-on-one with his counterpart from North Korea on the sidelines of a regional security conference set for this week in Malaysia, the State Department said Tuesday.Kerry arrived in Kuala Lumpur earlier Tuesday to attend a series of annual meetings hosted by the Association of Southeast Asian Nations, including Asia's biggest annual security gathering, known as the ASEAN Regional Forum.ARF is one of the rare international gatherings that No
North KoreaAug. 5, 2015
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FM Yun arrives in Malaysia for security talks
Foreign Minister Yun Byung-se arrived in Malaysia Tuesday for a series of regional talks where the territorial dispute in the South China Sea and North Korea's nuclear weapons program are expected to be high on the agenda.Yun will join the ASEAN-led meetings for two days starting Wednesday while also holding bilateral talks with his counterparts from major participating nations on the sidelines.For South Korea, the ASEAN Regional Forum on Thursday will be a key platform on which it can drum up i
Foreign AffairsAug. 5, 2015
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North Korean ship pursued for seizure in case
UNITED NATIONS (AP) -- An Israel-based civil rights group is trying to seize a North Korean ship being held in Mexico in a rare effort to make Pyongyang pay at least part of a rare $330 million U.S. District Court judgment against it.The Shurat HaDin law center in April won the ruling over the abduction of a South Korean-born pastor in China and his presumed torture and killing in North Korea. Now the center seeks whatever assets it can find from the largely isolated country. It has focused on t
North KoreaAug. 4, 2015
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Russia bids for vast Arctic territories at UN
MOSCOW (AP) -- Russia has submitted its bid for vast territories in the Arctic to the United Nations, the Foreign Ministry said Tuesday.The ministry said in a statement that Russia is claiming 1.2 million square kilometers (over 463,000 square miles) of Artic sea shelf extending more than 350 nautical miles (about 650 kilometers) from the shore.Russia, the U.S., Canada, Denmark and Norway have all been trying to assert jurisdiction over parts of the Arctic, which is believed to hold up to a quar
InternationalAug. 4, 2015
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N. Korean FM arrives in Malaysia for regional talks
North Korean Foreign Minister Ri Su-yong arrived in Malaysia Tuesday for regional security talks seen as a rare opportunity for active diplomatic engagement with the reclusive communist state.Ri arrived with a delegation of officials at Kuala Lumpur International Airport and headed to a hotel in the city center, appearing to avoid contact with the media as much as possible.His arrival came two days ahead of the ASEAN Regional Forum involving all 10 members of the Association of Southeast Asian N
Social AffairsAug. 4, 2015
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Dongbu Daewoo Electronics gains ground in China
South Korea’s third largest electronics firm Dongbu Daewoo Electronics has been increasing its foothold in the Chinese market with its strategies specifically targeting locals.The company, which made inroads into China in July 2013, runs 256 dealerships as of July, and plans to open 50 more stores by the end of the year. Customers look at Dongbu Daewoo Electronics’ products at a dealership in Zhejiang Sheng, China. (Dongbu Daewoo Electronics)Despite a slump in private consumption in China, the K
TechnologyAug. 4, 2015
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Samsung to create W100b fund for leukemia victims
Samsung Electronics said Monday it would create a 100 billion won ($85 million) fund for employees who had suffered from incurable diseases, including leukemia, while working at its manufacturing plants for semiconductors and displays. “Even though the exact causal relationship (of their illness) has not yet been verified, we will make all-out efforts to solve the issue promptly for the victims and their families,” the company said in a statement. Samsung has continued the compensation talks wit
TechnologyAug. 4, 2015
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Army deploys advanced multiple rocket launchers
The Army on Tuesday began deploying next-generation multiple launch rocket systems as part of Seoul’s efforts to better counter growing North Korean artillery threats and boost home production of tactical weapons. The domestically built MLRS, named “Chunmoo,” is poised to beef up South Korea’s artillery counterstrike capabilities with a range of up to 80 kilometers, more than twice that of the existing “Guryong.” The Defense Agency for Technology and Quality has injected some 131.4 billion won (
DefenseAug. 4, 2015
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Doosan E&C faces penalty for violating fair trade law
The Fair Trade Commission is expected to impose penalties on Doosan Engineering & Construction for violating the country’s fair subcontract transactions law, according to the firm’s regulatory filing Monday. The construction unit of Doosan Group is set to face limits in operations and be fined hundreds of millions of won for a number of accusations, including a delay of payments to subcontractors and illegal verbal contracts. The fair trade watchdog, however, has yet to decide the amount of the
IndustryAug. 4, 2015
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[SUPER RICH] Saga of ‘strife of princes’ runs deep at Korean conglomerates
The fraternal feud surrounding the managerial rights of South Korean retail giant Lotte Group has made the headlines of every media outlet here for the past week. But this is not the first time the second or third generation of business tycoons have held blood-spat competition over the helm of a business empire. According to Chaebul.com, 18 of the country’s top 40 family-controlled South Korean conglomerates, better known as chaebol, have or are experiencing fraternal disputes in the generationa
IndustryAug. 4, 2015