Chinese companies are actively seeking to be listed on the South Korean stock market this year thanks to cheaper costs and a relatively short period of time to complete listings, industry sources said Thursday.Three Chinese firms -- farm equipment parts maker Golden Century, Organic Tea Cosmetics Holdings Co. and plastics maker GRT -- are preparing to be listed on South Korea's secondary KOSDAQ market by year-end. The same number of Chinese companies has already been listed on the minor bourse s

Oct. 6, 2016

Some 1,000 residents from the southern city of Gimcheon staged a massive rally in downtown Seoul on Wednesday to protest the decision by South Korea and the United States to deploy a US anti-missile system to Seongju County, adjacent to the city.The protesters called on the central government to scrap the plan to station a Terminal High-Altitude Area Defense battery at a golf course in Seongju by the end of 2017 to counter North Korea's evolving nuclear and missile threats. The system is a core

Politics Oct. 5, 2016

Typhoon Chaba struck venues for the Busan International Film Festival (BIFF) Wednesday, tearing down the walls of makeshift facilities and causing panic among the organizers.With the festival's opening just a day away, organizers scrambled to prevent further damage to the BIFF Village set up on Haeundae beach where various press conferences and hand-printing events have been scheduled for the participating actors and filmmakers."I'm glad the typhoon didn't come on opening day, but I'm still very

Culture Oct. 5, 2016

Prosecutors said Wednesday they will seek the criminal extradition of a former head of Oxy Reckitt Benckiser amid an ongoing probe of the firm's deadly products that claimed many lives here.Under the plan, the prosecutors will seek to bring Gaurav Jain, an Indian national residing in Singapore who currently works for Britain-based Reckitt Benckiser, to South Korea to further the investigation.Prosecutors said they will provide translated investigation records as well as an arrest warrant and ask

Industry Oct. 5, 2016

The new head of South Korea's sole bourse operator on Wednesday pledged all-out efforts to transform it into a holding company with a few subsidiaries in a bid to survive the rapidly changing market environment."Given internal and external necessities, a shift to a holding firm is a task we have to achieve at all costs," Korea Exchange CEO Jeong Chan-woo said, starting his three-year tenure.The KRX has sought to go public and become a holding firm as part of efforts to strengthen governance and

Oct. 5, 2016

Unionized workers at Hyundai Motor Group threatened Wednesday to stage a general strike if the government invokes its right to emergency arbitration to order workers at South Korea's No. 1 carmaker to return to work, sources said.The move came after Labor Minister Lee Ki-kweon said last week the government would consider calling for an emergency measure if the trade union and management fail to iron out a compromise and end a strike at Hyundai Motor Co. that is seriously hurting car parts subcon

Industry Oct. 5, 2016

Smartphone makers such as Samsung Electronics Co. and Sony Corp. have launched their latest mid-range smartphones in South Korea, targeting the niche segment between flagship and low-end smartphones.Samsung began selling the Galaxy A8 smartphone on Wednesday via SK Telecom, the nation's top mobile carrier. With a 5.7-inch screen and better camera capabilities, the A8 smartphone is touted as the closet mid-range smtphone to the flagship Galaxy S series. The A8 is priced at 649,000 won ($583) in S

Technology Oct. 5, 2016

A ranking North Korean official stationed at North Korea's mission in Beijing has recently defected, possibly seeking to move to South Korea, a source familiar with Pyongyang's affairs said Wednesday.An official belonging to the North's health ministry disappeared with his family in late September, according to the source, who declined to be identified.He is known to be in charge of providing medical supplies to a clinic in Pyongyang which caters to North Korean leader Kim Jong-un and his family

North Korea Oct. 5, 2016

South Korea's top financial regulator on Wednesday emphasized the government's unswerving commitment to expand performance-linked pay for local bank workers."It's an indispensable financial reform task," Yim Jong-yong, chairman of the Financial Services Commission said at a government-civilian meeting on improving the nation's financial system.The government will push for the spread of a "performance-oriented culture" on the basis of constant principles, he added.Yim's comments came as bank work

Oct. 5, 2016