North Korea on Thursday proposed holding working-level talks with South Korea next week to discuss issues related to its dispatch of athletes and a cheering squad for the upcoming Asian Games in South Korea.North Korea suggested holding the talks in the inter-Korean border village of Panmunjom next Tuesday to discuss the matters stemming from its plans to send athletes and the cheering delegation to this year's Asian Games, according to the North's official Korean Central News Agency (KCNA).The

North Korea July 10, 2014

South Korea's central bank on Thursday lowered its economic growth and inflation outlook for the year by 0.2 percentage point each, factoring in the impact of the Sewol ferry disaster that pummeled consumer and business sentiment in Asia's fourth-largest economy.The Bank of Korea (BOK) cut its growth forecast for the year to 3.8 percent from 4 percent, while trimming its growth outlook for next year to 4 percent from 4.2 percent. The previous estimates were released in April."The downward revisi

July 10, 2014

The proportion of young people to the total population in South Korea dropped to the lowest level ever in 2014, affected by the chronically low birthrates, government data showed Thursday.According to the data by Statistics Korea, the number of people aged 9-24 came to 9.84 million this year, accounting for 19.5 percent of the total population of 50.42 million. The rate marked the lowest since related data started to be compiled in 1960 when the figure stood at 31.8 percent. The percentage of yo

Social Affairs July 10, 2014

Most South Korean girls see marriage as an option, rather than a necessity, a government survey showed on Thursday.According to the study conducted by Statistics Korea and the Ministry of Gender Equality and Family in 2012, only 45.6 percent of the girls aged between 9 and 24 said marriage was definitely something they must do in life.Boys were more likely to be fond of the idea, with 62.9 percent of them in the same age group saying they would walk down the aisle one day.A slightly higher perce

Social Affairs July 10, 2014

The U.S. and China have been "refining" their strategies for an eventual elimination of North Korea's missile and nuclear weapons programs at their annual strategic talks in Beijing, a senior U.S. State Department official has said. North Korea is one of the topics being discussed at the annual U.S.-China dialogue in Beijing, along with a broad range of diplomatic, economic and international issues between the two countries. U.S. Secretary of State John Kerry and Chinese State Councilor Yang Jie

World News July 10, 2014

South Korea's central bank on Thursday froze the policy interest rate at 2.5 percent for a 14th straight month, shrugging off a minority voice that forecast a rate cut as the confirmation of a pro-growth finance minister nominee is underway.The decision by the monetary policy committee of the Bank of Korea (BOK) is in line with a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency. A majority of 21 of 22 analysts projected the central bank to hold the rate as economic

July 10, 2014

South Korea and China will hold a new round of negotiations for a bilateral free trade agreement next week, the South Korean government said Thursday, the first such meeting after the leaders of the two countries agreed to conclude the pact within this year.The 12th round of the FTA talks will be held in Daegu, 300 kilometers south of Seoul, from Monday through Friday, according to the Ministry of Trade, Industry and Energy.South Korean President Park Geun-hye and Chinese President Xi Jinping ag

Foreign Affairs July 10, 2014

South Korea will have to make compensation to other member nations should it decide to again delay opening its rice market, head of the world trade negotiation body said, as the country nears a deadline to make a decision on one of the most sensitive domestic issues.In a written interview Monday with Yonhap News Agency in Geneva, Director General Robert Azevedo of the World Trade Organization (WTO) said South Korea, pursuant to an earlier agreement, will be required to liberalize its rice market

Foreign Affairs July 10, 2014

Israeli air strikes on the southern and central Gaza Strip killed 14 people on Thursday including seven women and children, medics said, on the third day of a widening military operation.The first strike hit a coffee shop in the city of Khan Yunis, emergency services spokesman Ashraf al-Qudra told AFP, adding that six men were killed and at least 15 other people wounded.The second, in Nusseirat refugee camp in central Gaza, on the home of Raed Shalat, killed him and wounded several others, Qudra

World News July 10, 2014

Typhoon Neoguri slammed into Japan's southern main island early Thursday after lashing the Okinawa island chain, with three people killed as powerful winds and torrential rains battered the country.Officials have warned of the risk of flooding and landslides, after the storm forced local authorities to advise half a million people to seek shelter in Okinawa earlier in the week.Neoguri made landfall early Thursday near Akune City on the west of the island of Kyushu, which is home to 13 million pe

World News July 10, 2014