The government decided to maintain close watch and readiness to prepare against the possibility of further provocations by North Korea, and make full preparations for a strong response in the event that the North provokes us again, presidential spokesman Min Kyung-wook told reporters following an emergency meeting of the National Security Council.The meeting came a few hours after the two Korea exchanged artillery fire across the western maritime border Monday morning after the North staged a li

North Korea March 31, 2014

Samsung Electronics, the world's largest mobile phone maker, paid the highest wages to non-owner family company executives among conglomerates, annual reports filed Monday showed.The company said it paid vice chairman Kwon Oh-hyun 6.77 billion won ($6.36 million) in wages last year, with other top executives also being paid large sums.According to the company's annual corporate report, Kwon, who heads the company's device solutions operations, received the highest pay among senior executives, fo

Industry March 31, 2014

Chinese President Xi Jinping on Friday called for the denuclearization of the Korean Peninsula amid ongoing diplomacy involving the U.S. that is seeking to revive the long-suspended six-party talks aimed at persuading North Korea to give up its nuclear weapons.   Xi made the remarks at a meeting with a South Korean parliamentary delegation, led by Rep. Chung Mong-joon of the ruling Saenuri Party, at the Great Hall of the People.    "The denuclearization of the Korean Peninsula is the basic stanc

International Feb. 21, 2014

South Korea and New Zealand wrapped up their fifth round of negotiations for a bilateral free trade agreement (FTA) on Friday after a five-day run, but failed to make tangible progress, the trade ministry said.During the negotiations held in Wellington, the two sides discussed all aspects of the free trade deal including market accessibility, but failed to bridge their gap on ways to protect some of South Korea's sensitive agricultural goods, the ministry said.   The two countries, however, have

Industry Feb. 21, 2014

Ukrainian President Viktor Yanukovych on Friday announced early presidential elections and promised to bring opposition members into the government in a bid to defuse a deep crisis in which scores have been killed and hundreds injured. He gave no time frame, however, and it's unclear whether his belated concessions will be enough to hold off protesters who have occupied a piece of Kiev and government buildings around the country in a nationwide battle over the identity of their country.There was

World News Feb. 21, 2014

Beijing on Friday blasted Tokyo for trying to re-examine a 20-year-old investigation that led to Japan's 1993 apology over its sexual enslavement of women during World War II, urging Tokyo to resolve the issue "in a responsible attitude."    China's foreign ministry spokeswoman Hua Chunying made the remarks a day after Japan's chief government spokesman Yoshihide Suga said his government is likely to review the accuracy of the investigation, a move widely viewed in South Korea as the first step

National Feb. 21, 2014

South Korea and the United States will meet again in April for negotiations on renewing a bilateral nuclear energy pact, the foreign ministry said Wednesday after the allies closed their two-day talks on the accord without progress.Seoul and Washington kicked off their ninth round of talks on the renewal of the accord, also known as the "123 agreement," on Tuesday in South Korea's central city of Daejeon, home to major nuclear research facilities. "The two sides agreed in the latest talks that t

Foreign Affairs Jan. 8, 2014

The South Korean government said it plans to announce an expanded air defense zone on Sunday, amid a growing regional row following China's unilateral expansion of its own.    The Ministry of National Defense will declare the expanded air zone early Sunday at its headquarters, with the exact time of the release to be announced soon, ministry officials said.   Tension has been running high in East Asia since China unexpectedly announced on Nov. 23 an air defense identification zone above the East

Defense Dec. 7, 2013

A deal to boost global trade has been approved by the World Trade Organization's 159 member economies for the first time in nearly two decades, keeping alive the possibility that a broader agreement to create a level playing field for rich and poor countries can be reached in the future.    WTO Director-General Roberto Azevedo shed tears during the summit's closing ceremony Saturday as he thanked host nation Indonesia and his wife.``For the first time in history, the WTO has finally delivered''

World Business Dec. 7, 2013

North Korea said Saturday it has deported an elderly U.S. tourist who was detained for more than a month, apparently ending the saga of Merrill Newman's return to the North six decades after he advised South Korean guerrillas still loathed by Pyongyang.North Korea made the decision because the 85-year-old Newman had apologized for his alleged crimes during the Korean War and because of his age and medical condition, according to the North's official Korean Central News Agency.U.S. Vice President

North Korea Dec. 7, 2013