China warned Thursday that the possible deployment of an advanced U.S. missile defense system in South Korea could undermine the "overall interest of bilateral relations" between Seoul and Beijing, underscoring a long-standing rift between the neighbors despite their growing warmth on bilateral ties.The warning by China's foreign ministry spokesman Hong Lei came a day after China's defense minister Chang Wanquan held talks with South Korean Defense Minister Han Min-koo in Seoul on Wednesday, dur

World News Feb. 5, 2015

An auction to sell state-run Woori Bank failed on Friday due to a lack of bidders, the financial regulator said, the fourth such failed attempt by the government to privatize South Korea's No. 3 bank.“After closing the bid for Woori Bank's managerial rights, only China's Anbang Property & Casualty Insurance Co. applied for it,” said the Financial Services Commission.At least two bidders are needed to make the auction valid, according to local laws.Anbang Insurance is a leading Chinese insurer, w

Nov. 28, 2014

China urged the international community Friday not to "politicize" the issue of North Korea’s human rights record, again opposing a U.N. move to hold its young leader accountable for alleged rights violations.The remarks by Chinese foreign ministry spokesman Hong Lei were the latest signal from Beijing that it would veto any U.N. move to condemn North Korea for its alleged dismal human rights record, as the U.N. General Assembly is expected to vote on a resolution next week against the North's h

North Korea Nov. 14, 2014

Students occupying the area outside Hong Kong's government headquarters agreed Sunday to remove some barricades that have blocked the building's entrance during weeklong pro-democracy protests, as police warned of taking ``all necessary measures'' to clear the streets by the beginning of the work week.Television footage from the scene showed a protest representative shaking hands with a police officer, but it was not immediately clear whether all the students had decided to withdraw. The move ap

World Oct. 5, 2014

South Korea's central bank is expected to slash its key interest rate in October in the wake of its August rate cut due to a slow recovery in the country's economy and volatile foreign exchange rates, market watchers said Sunday.In August, the Bank of Korea cut the base rate to 2.25 percent from 2.5 percent, the first rate reduction in 15 months, in an effort to lend support to the government's efforts to boost the economy. Last month, the central bank froze the rate as widely expected.The BOK i

Oct. 5, 2014

President Barack Obama said Wednesday that the United States will not be intimidated by Islamic State militants after the beheading of a second American journalist and will build a coalition to ``degrade and destroy'' the group.Obama still did not give a timeline for deciding on a strategy to go after the extremist group's operations in Syria. ``It's going to take time for us to be able to roll them back,'' the president said at a news conference during a visit to Europe.The president's comments

World News Sept. 3, 2014

A North Korean defector known for his satirical paintings on North Korean society plans to hold a rare exhibition in Beijing this week, an organizer of the exhibition said Friday. The painter from North Korea, who uses the pseudonym Sun Mu, fled the North in 1998 and resettled in South Korea in 2001, has been called a "faceless" artist as he does not allow himself to be photographed out of fears that his family left behind could suffer retribution. Sun Mu, who was trained to paint propaganda pic

Culture July 25, 2014

Two clubs fighting to keep their playoff hopes alive in the Korea Baseball Organization announced their acquisitions of new foreign pitchers on Friday.The Doosan Bears said they've signed Cuban right-hander Yunesky Maya in a one-year deal worth $175,000.The 32-year-old represented Cuba at the 2006 and the 2009 World Baseball Classic. He signed with the Washington Nationals in Major League Baseball as a free agent in 2010 and made 16 big league appearances in 2010, 2011 and 2013, with a record of

Sports July 25, 2014

President Park Geun-hye is considering whether to present a motion to parliament seeking confirmation of her latest choice for prime minister after she wraps up her ongoing trip to Central Asia, an official said Wednesday.Park will decide whether to "approve the motion by fully taking into account various situations after returning home," presidential spokesman Min Kyung-wook told reporters traveling with Park to theUzbek city of Samarkand.Park will focus on important economic and diplomatic iss

Politics June 18, 2014

South Korean President Park Geun-hye arrived in Kazakhstan on Wednesday on the second leg of a Central Asia tour focused mainly on expanding economic ties and realizing her vision for a barrier-free Eurasia.During Park's three-day state visit to Astana, the two countries are expected to pledge continued support for their ongoing joint projects worth a total of US$10 billion, including the construction of a coal-fired power plant and a petrochemical complex, officials said.Kazakhstan is the large

Politics June 18, 2014

President Park Geun-hye is expected to name a new prime minister candidate as early as next week, sources said Saturday, as she moves to rev up her reform drive following the local elections.The nomination, which is due as early as June 8, comes after the president voiced strong will to push forward with her reform agenda in a Memorial Day speech earlier this week.The high-profile seat has been vacant since then Prime Minister Chung Hong-won offered to quit last month to take responsibility for

Politics June 7, 2014

The suspect in a shooting at a small Seattle university wanted to kill as many people as possible before killing himself, police said Friday.   A judge found probable cause to hold 26-year-old Aaron Ybarra without bail. The hearing came a day after Ybarra was arrested in the shooting that killed student Paul Lee and wounded two other young people, one critically, at Seattle Pacific University.In a statement filed in court, Seattle police wrote that Ybarra admitted to detectives after his arrest

World News June 7, 2014

South Korean stocks may move marginally upward next week, fueled by gains in bluechips from an inflow of foreign funds, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,995.48 this week, edging up 0.03 percent from a week earlier.The small rise can be attributable to data that indicated the global economy is on the mend, albeit slowly, and net buying of bluechip stocks by foreign investors. Foreigners, who exert considerable influence on the market, re

June 7, 2014