The South Korean economy grew at the slowest pace in six months in the second quarter as export gains sharply eased amid global economic uncertainty, the central bank said Wednesday.Asia's fourth-largest economy grew 0.8 percent in the April-June period, down from a 1.3 percent on-quarter expansion tallied in the first quarter, according to an advance estimate of the Bank of Korea (BOK). The count

July 27, 2011

A South Korean pastor was indicted on charges of secretly entering North Korea to celebrate the birthday of the late North Korean founder Kim Il-sung, prosecutors said Wednesday.The pastor, a U.S. resident who was identified only by his surname Hong, is accused of visiting the communist state in April without government approval, and taking part in celebrations of the late leader's birth on April

Politics July 27, 2011

President Lee Myung-bak has warned that the safety of four Japanese lawmakers could be at risk if they press ahead with a trip here seen as aimed at bolstering Tokyo's claims to the South's easternmost island of Dokdo, an official said Wednesday.Four lawmakers of Japan's opposition Liberal Democratic Party said last week they will visit Ulleung Island near Dokdo in early August in an apparent atte

Defense July 27, 2011

NEW YORK (Yonhap News) -- A senior North Korean official said Tuesday that he is optimistic about Pyongyang's relations with Washington and the future of the six-way nuclear talks."I believe North Korea-U.S. relations will improve as now is the time for all countries to reconcile," Vice Foreign Minister Kim Kye-gwan told reporters.He added, "(I) am optimistic of the prospects for the six-way talks

North Korea July 27, 2011

Public anger is mounting in China after a video of bodies falling from train carriages during a post-crash clean-up operation appeared online, the Daily Telegraph reported.The Chinese government is being criticized for trying to cover up the deadly train accident in Zhejiang province in the east of the country without a full investigation. The disaster left 43 people dead and 210 injured.Immediate

World News July 26, 2011

A senior North Korean diplomat headed to the United States on Tuesday for rare talks with U.S. officials, a diplomatic source in Seoul said, amid cautious hopes for the resumption of stalled six-party talks on ending the North's nuclear programs. Kim Kye-gwan, the North's first vice foreign minister and one of the key strategists in Pyongyang's nuclear talks with Washington, left Beijing on Tuesda

North Korea July 26, 2011

WASHINGTON (AP) -- President Barack Obama on Monday night criticized a newly minted Republican plan to avert an unprecedented government default and said congressional leaders must produce a compromise that can reach his desk before the Aug. 2 deadline.“The American people may have voted for divided government, but they didn't vote for a dysfunctional government,” the president said in a hastily a

World Business July 26, 2011

South Korea will raise electricity prices by 4.9 percent starting next month as part of its efforts to reflect rising power production costs, the commerce ministry said Tuesday.Electricity bills for household consumption will grow 2 percent from August, while those for commercial and industrial use will increase 4.1 percent and 6.1 percent, respectively, according to the Ministry of Knowledge Econ

July 26, 2011

 WASHINGTON (AP) -- Republicans and Democrats upped the ante Monday by putting forth competing plans to resolve the high stakes fight over slicing away at the government deficit and increasing the U.S. borrowing limit, but no compromise was in sight with time running out to prevent a potentially catastrophic default in barely a week.President Barack Obama planned to address the nation at 9 p.m. Mo

World News July 26, 2011

The U.S. State Department emphasized Monday that this week's talks with North Korea in New York are just to see whether it is prepared for full-fledged negotiations on denuclearization.The North's vice foreign minister, Kim Kye-gwan, is scheduled to visit New York later this week for a meeting with a U.S. government delegation, Secretary of State Hillary Clinton announced earlier."We see this as a

North Korea July 26, 2011

South Korean banks' loan delinquency rate fell to the lowest level in six months in June due mainly to a decline in project financing loans, the financial watchdog said Tuesday.The average delinquency rate of bank loans to companies and households stood at 0.97 percent as of the end of June, down 0.33 percentage point from the previous month, according to the Financial Supervisory Service (FSS).Th

July 26, 2011

Regardless of the upcoming meeting with the United States, North Korea is likely to launch additional provocations, the top U.S. military officer said Monday."It is my view that the North Korean regime will once again attempt to provoke hostilities," Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, said in a meeting with foreign reporters here. "And that once again, leaders in the South wi

North Korea July 26, 2011

North Korea is preparing for a military exercise on the west coast involving all three branches of its forces, a government source here said Tuesday."We noted preparations for a military exercise from the North's naval base in Nampo and its aerial base in Onchon in South Pyongan Province," the source said, referring to a western province north of the border. "Warships and fighters have been assemb

North Korea July 26, 2011

South Korea and India signed an agreement Monday to cooperate in nuclear power, providing a legal basis for the South's future participation in atomic plant projects in India.The agreement was signed after a summit between President Lee Myung-Bak and his Indian counterpart Pratibha Patil, Lee's office said in a statement.South Korea operates 20 nuclear plants that generate some 35 percent of its e

International July 25, 2011