A woman who stabbed her husband to death during a fight was sentenced to 10 years in prison on Thursday, according to the Daegu High Court. The 49-year-old woman had gotten into a fight with her husband over a phone conversation she had had with another man.  (123Rf)When the husband turned violent, the woman took out a weapon from the kitchen and stabbed him to death. Their child who was at home at the time is said to be suffering from shock and stress. The Daegu court said that the murder was n

Social Affairs June 9, 2016

The South Korean finance minister said Thursday that Asia's fourth-largest economy will show far clearer signs of recovery in the second quarter helped by government-led stimulus policies."The South Korean economy has been in a modest recovery mode in recent months, rebounding from a slowdown in the beginning of the year," Finance Minister Yoo Il-ho said in a meeting of economy-related ministers in Seoul. Finance Minister Yoo Il-ho (Yonhap)"In the second quarter, we will see the effects of incre

June 9, 2016

Kia Motors Corp. said Thursday that it has reached a deal with the northern Mexican state of Nuevo Leon on incentives, giving a boost to South Korea's second-largest carmaker in running its plant in Mexico.The two sides said in a joint statement after a signing ceremony in Nuevo Leon that they found a reasonable middle ground, Kia Motors said.A company official said the deal would cover infrastructure such as roads, railways, electricity and industrial water for the plant, noting no significant

Mobility June 9, 2016

South Korea's ruling Saenuri Party said Thursday the government should roll out more state military projects to help normalize financially troubled shipbuilders, which emerged as a potential threat to local industries and the job market."Although restructuring in the private sector is inevitable, there also must be government efforts to provide (troubled firms) with work," Saenuri said during the meeting with government policymakers. The party highlighted that the government should consider plac

June 9, 2016

South Korea made public a five-year master plan on Thursday aimed at developing the country as a global power in the information security industry.Under the "K-ICT 2020" project, the government will focus on "globalizing" its cybersecurity and other information protection technology.In the face of North Korea's cyber threats, South Korea has continued efforts to fortify its cyber environment.But it has much to be desired to enhance the global competitiveness of the infosecurity sector, which is

Technology June 9, 2016

South Korea's automobile exports fell for the seventh straight month in May due to faltering demand from emerging markets, the government said Thursday.Outbound shipments of vehicles came to 218,655 units last month, down 11.6 percent from 247,343 units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The May figure narrowed from a 19.7-percent on-year drop in April, the largest decline since September 2009 when it plunged 22 percent in the aftermath of the global

Mobility June 9, 2016

Healthcare funds have outshone other equity funds in the past month on a recent rally in pharmaceutical and biotechnology stocks, a fund ratings company said Thursday. Healthcare funds took the top five spots in the domestic equity funds' yield rankings released on Tuesday by Korea Fund Ratings.The company surveyed the yield results of homegrown stock-based funds for the month ending June 7.Mirae Asset Global Investment Co. managed four out of the five highest-yielding healthcare funds, with the

Industry June 9, 2016

Hyundai Motor Co.'s Porter truck was the best-selling vehicle in South Korea in the first five months of this year, industry data showed Thursday, in a sign that the relatively cheap commercial model appealed to small self-employed merchants.The country's largest automaker sold a total of 44,696 units of the Porter 1-ton truck during the January-May period, according to the data.If the current sales pace continues, the Porter could become the best-selling vehicle not only in the first half but f

Mobility June 9, 2016

The South Korean antitrust watchdog said Thursday that it will raise the asset ceiling for its conglomerate watch list for the first time in seven years as part of its efforts to pave the way for local mid-sized business groups to conduct more activities.In a report submitted to an economy-related ministers' meeting held in Seoul, the Fair Trade Commission will increase the minimum asset criteria from the current 5 trillion won (4.3 billion) to 10 trillion won in September, with state-run corpor

June 9, 2016

The South Korean market for desserts has been expanding rapidly over the past years despite the country's prolonged economic slump, industry data showed Thursday.The dessert market was estimated at 1.5 trillion won in 2015, up a whopping 90 percent from the previous year. Last year, the market more than doubled to 800 billion won from 300 billion won in 2013.In a recent report, Eugene Investment & Securities Co. predicted the figure to breach the 2 trillion won mark this year as several domestic

Industry June 9, 2016