South Korea's consumer prices grew at the slowest pace in 14 years in September, affected by falls in costs of farming products, a government report showed Tuesday.The country's consumer price index rose 0.8 percent on-year in September, decelerating from a 1.3 percent gain tallied in the previous month, according to the report by Statistics Korea.The September figure marked the slowest on-year consumer price growth since September 1999 when it also rose 0.8 percent.The core inflation, which exc

Oct. 1, 2013

President Park Geun-hye said Monday that evading criticism is no solution to problems, apparently taking a swipe at her welfare minister insisting defiantly on quitting after she scaled back a promised pension program for senior citizens."Cabinet ministers and senior presidential secretaries should do their jobs with a sense of responsibility and duty," Park said during a weekly meeting with senior aides. "Evading criticism does not resolve problems. The determination and belief that we can conf

Social Affairs Sept. 30, 2013

South Korean stocks opened lower Monday as the rising uncertainties over the U.S. debt-ceiling debate and budget plan dented investors' sentiment here, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 15.57 points, or 0.77 percent, to 1,966.23 in the first 15 minutes of trading.Tech blue chips traded lower, with No. 1 player Samsung Electronics falling 0.15 percent and top chipmaker SK hynix losing 0.66 percent. Leading flat panel maker LG Display shed 1.31 percen

Sept. 30, 2013

Three affiliates of embattled Tong Yang Group on Monday filed for court receivership as a last resort to avert bankruptcy after they failed to secure funds to keep afloat, the group said. South Korea's 38th-largest conglomerate said its three units -- Tongyang Inc., Tong Yang Leisure Co. and Tongyang International Inc. -- requested a court's order earlier in the day for a corporate revival process. The troubled family-run company has been faced with mounting pressure to secure money to repay its

Industry Sept. 30, 2013

Always scrutinized, Iran now will be under even greater watch as the U.S. looks for signals the Islamic Republic's new president is serious and powerful enough to pursue detente with Washington and an end to the painful economic penalties imposed over its nuclear program.A burst of euphoria followed news of Friday's telephone conversation between President Barack Obama and Iran's Hassan Rouhani, and the first top-level contact between the countries in 34 years led to talk of a historic breakthro

World News Sept. 30, 2013

Inspectors who will oversee Syria's destruction of its chemical weapons said Sunday their first priority is to help the country scrap its ability to manufacture such arms by a Nov. 1 deadline _ using every means possible.The chemical weapons inspectors said that may include smashing mixing equipment with sledgehammers, blowing up delivery missiles, driving tanks over empty shells or filling them with concrete, and running machines without lubricant so they seize up and become inoperable.On Frida

World News Sept. 30, 2013

South Koreans aged 50 and above have few plans for post-retirement life, a poll showed Monday, urging the authorities to revise its pension programs to cover those in need of support for basic needs.According to a nationwide poll conducted by the National Pension Research Institute in 2011, only 16.1 percent of 6,341 South Koreans aged 50 and above surveyed said they are enrolled in public pension programs.Among those who are covered by pensions, the majority were enrolled in the national pensio

Technology Sept. 30, 2013

U.S. Secretary of Defense Chuck Hagel said it's premature to conclude a new deal with South Korea on its request for another delay in the transition of operational control (OPCON) of its troops in time of war."I don't think we'll be in a position to make any final decision," Hagel was quoted as telling reporters aboard a military plane heading to South Korea.He added, "I don't think anything is fixed for decades at a time. There's always a review and realignment of responsibilities and forces,"

Defense Sept. 30, 2013

South Korea's industrial output grew at the fastest pace in nine months in August, raising expectations that economic conditions are improving, a government report showed Monday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries expanded 1.8 percent last month from a month earlier, a turnaround from a revised 0.3 percent fall in July.This represented the sharpest on-month expansion since November last year when it gained 2.1 perce

Industry Sept. 30, 2013

Ryu Hyun-jin of the Los Angeles Dodgers lost his final regular season start on Sunday, going just four innings against the Colorado Rockies for his shortest outing of 2013.At Dodger Stadium, Ryu gave up two earned runs on eight hits and a walk against the Rockies, as Colorado took the game 2-1. Scott Van Slyke pinch-hit for Ryu in the bottom of the fourth with the Dodgers trailing 2-0. The South Korean lefty needed 76 pitches to get through four innings.Despite one of his shakiest starts of 2013

Baseball Sept. 30, 2013