The defense ministry said Thursday it will require surveillance cameras to be installed in all female barracks for better monitoring and enforcing stronger punishment of soldiers who commit sex crimes.The ministry reviewed the discipline and security of military troops in a meeting with senior officers and came up with a string of measures aimed at curbing sex crimes and suicides in barracks. "The ministry will appoint a sexual harassment counselor for each unit and require the establishment of

Social Affairs July 11, 2013

A Saudi princess was charged Wednesday with human trafficking for allegedly holding a domestic worker against her will and forcing her to work at a California condominium, prosecutors said.Orange County District Attorney Tony Rackauckas identified 42-year-old Meshael Alayban as a Saudi princess who was charged with one count of human trafficking. If convicted, she faces up to 12 years in prison.Alayban was arrested after a Kenyan woman carrying a suitcase flagged down a bus Tuesday and told a pa

World News July 11, 2013

South Korean stocks traded 2.14 percent higher late Thursday morning, as blue-chip tech firms and steelmakers widened gains, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shot up 38.98 points to 1,863.14 as of 11:20 a.m.Top-cap tech heavyweight Samsung Electronics surged 3.5 percent and Hyundai Steel hiked nearly 5 percent. In contrast, large-cap insurers traded in negative territory, with Samsung Life Insurance losing 0.5 percent. The local currency was changing hands a

July 11, 2013

South Korea's central bank on Thursday raised its economic growth forecast for this year to 2.8 percent from its earlier estimate of 2.6 percent as the local economy is improving, aided by fiscal and monetary stimulus.  The forecast by the Bank of Korea (BOK) is higher than the government's revised growth forecast of 2.7 percent for this year. The central bank's 2014 growth projection was revised up to 4 percent from the 3.8 percent estimate made in April.The BOK's outlook revision comes as its

July 11, 2013

The financial regulator said Thursday it will require banks to build a two-pronged network system in a bid to avert cyber attacks after a series of online hackings into some of their websites. The Financial Services Commission (FSC), the country's top financial watchdog, said it plans to have large banks separate their network systems into two partitions -- one for internal use and the other for online use -- by next year. Under the measures, banks must split their main operating system first in

Technology July 11, 2013

South Korea will stop the current bidding for fighter jets and revise the project as high price tags have made the chance of selecting a satisfactory contractor slim, a senior official said Thursday. The move comes after the Defense Acquisition Program Administration (DAPA) carried out 55 separate biddings with three defense groups to buy 60 advanced jets with an 8.3 trillion won ($7.2 billion) budget, but the procedure was put on hold last week due to their expensive price tags. Boeing's F-15 S

Defense July 11, 2013

South Korean stocks opened sharply higher Thursday, cheered by U.S. Federal Reserve Chairman Ben Bernanke's comments in support of its easy-money policy, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 24.62 points, or 1.35 percent, to 1,848.78 in the first 15 minutes of trading.  Large-cap exporters pushed up the index, with market behemoth Samsung Electronics soaring 2.5 percent and steelmaker POSCO shooting up nearly 3 percent. Bernanke assuaged prevailing market

July 11, 2013

South Korean stocks traded slightly lower late Wednesday morning, dented by losses in telecom companies and foodmakers, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slid 1.53 points, or 0.08 percent to 1,828.82 as of 11:20 a.m.Leading confectionery maker Orion fell more than 2 percent, with No. 2 mobile carrier KT Corp. dropping 1.4 percent. Top-cap Samsung Electronics continued to move in positive terrain, rising 0.7 percent. The local currency was changing hands at 1,

July 10, 2013

South Korean stocks opened almost unchanged Wednesday as investors took to the sidelines ahead of the release of Chinese export data scheduled later in the day, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 0.28 points, or 0.02 percent to 1,830.63 in the first 15 minutes of trading. Large-cap exporters led the climb, with Samsung Electronics gaining 0.5 percent and Hyundai Motor rising nearly 1 percent. Blue-chip state-run electricity provider Korea Electric Power

July 10, 2013

Conscripted K-pop star Rain was discharged from military service on Wednesday, receiving a warm welcome from his fans. The 31-year-old singer, whose real name is Jung Ji-hoon, served for 21 months as an "entertainment soldier" for an Army unit that provides TV and radio programming that promotes the military. All able-bodied men should serve roughly two years in the South Korean military, which is still technically at war with North Korea. Over 100 people, mostly from Japan, and reporters flocke

People July 10, 2013

South Korean stocks closed 0.74 percent higher Tuesday as worries about a worsening Chinese economy eased, analysts said. The local currency rose sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.50 points to finish at 1,830.35. Trading volume was light at 254.4 million shares worth 3.11 trillion won (US$2.71 billion) with gainers outpacing losers 499 to 286. "Some predicted a 6-percent level on-year growth for China. But investors seem to have d

July 9, 2013

Prosecutors said Tuesday that they will extend the imprisonment period for the head of the food and entertainment conglomerate CJ Group to further investigate him over alleged tax evasion and embezzlement.Chairman Lee Jay-hyun was locked up at the Seoul Detention Center on the southern outskirts of Seoul on July 1, shortly after a district court approved the prosecution's request for an arrest warrant for the country's 10th richest man.As Lee's first 10-day imprisonment period expires on Wednesd

Social Affairs July 9, 2013