The volume of cargo processed at South Korea's seaports increased almost 2 percent on-year in the first half of 2016, government data showed Tuesday.Cargo handled at the country's seaports totaled 739.77 million tons during the six months, up 1.9 percent from a year earlier, according to the Ministry of Oceans and Fisheries.Trade cargo totaled 608.96 million tons, while domestic shipments came to 130.81 million tons.The increase came from the larger amount of non-container cargo, which climbed 3

July 26, 2016

South Korea's leading automaker Hyundai Motor Co. on Tuesday said its net income dropped slightly from a year earlier in the second quarter on a dip in exports and profitability.Net profit came to 1.76 trillion won ($1.55 billion) in the April-June period, down 1.5 percent from the same period last year, the company said in a regulatory filing.Sales surged 8.1 percent on-year to 24.68 trillion won, with operating profit gaining 0.6 percent to 1.76 trillion won.The on-year drop in net income was

Mobility July 26, 2016

Fresh investment in China by South Korean companies continued to rise sharply in the first half of the year, with the annual tally for 2016 well expected to reach a 12-year high, a local trade organization said Tuesday.In the January-June period, investment by South Korean firms in China came to $2.84 billion, up 17.8 percent from the same period last year, according to data from the Korea International Trade Association.At the current pace, South Korea's fresh corporate investment in China is e

July 26, 2016

South Korea on Tuesday unveiled a set of measures to try to create a turnaround in exports in the second half of this year.South Korea's exports fell 10 percent in the January-June period, compared to a year earlier. June also marked the 18th consecutive monthly decline in exports since January 2015.Trade Minister Joo Hyung-hwan said that it remains unclear whether South Korea can make a turnaround in exports, citing heightened uncertainties over economic slowdown in emerging markets, lower dema

July 26, 2016

The number of single-day takeoffs and landings at Incheon International Airport, South Korea's main gateway, surpassed the 1,000 mark for the first time over the weekend, the airport operator said Tuesday.Incheon airport, located west of Seoul, reported a total of 1,020 takeoffs and landings on Sunday. The number of passengers also reached a record high, hitting 188,263, as the peak summer season began, according to Incheon International Airport Corp. It said this is the highest number since the

Industry July 26, 2016

Former North Korean leader Kim Jong-il's widow appears to have been purged by the Kim Jong-un regime, the U.S.-based Radio Free Asia said Tuesday, citing multiple sources familiar with the reclusive country.A Chinese businessman, fresh from his recent visit to Pyongyang, told the RFA that Kim Ok, 52, the fourth wife of the deceased leader, was sent to a political prison camp within a year of her step-son taking power. The incumbent leader inherited the country following the sudden death of his f

North Korea July 26, 2016

Top diplomats from nearly 30 Asia-Pacific countries and regional powers will meet Tuesday to discuss regional security issues such as North Korea's nuclear weapons program. The ASEAN Regional Forum, the largest regional security gathering, will be attended by foreign ministers from the 10 members of the Association of Northeast Asian Nations and top officials from other parts of Asia, North America, Europe and Oceania.The ARF is a rare international occasion attended by the North along with all

North Korea July 26, 2016

A group of 160 consumers on Tuesday filed a suit against Coway, South Korea's leading water purifier maker, demanding 1.6 billion ($1.4 million) in compensation for damages from using water purifier models with a nickel coating that tainted the water.Nickel from the coating was found in dispensed water in three ice maker/water purifier models by Coway, with the number of users involved estimated at about 87,000. Coway vowed to take responsibility should any health problems be confirmed from usin

Industry July 26, 2016

South Korean Olympic football striker Suk Hyun-jun has been diagnosed with bruised ribs following a recent practice match ahead of the Rio de Janeiro Games, the sport's national governing body said Tuesday.Suk's teammate, midfielder Lee Chan-dong, has a sprained right ankle, according to the Korea Football Association.The two players were injured during an unofficial practice match against Iraq in Sao Paulo on Sunday (local time). Suk left the game early in the match, and Lee was replaced just b

Soccer July 26, 2016

South Korea picked the U.S.-based Advanced Television Systems Committee 3.0 standard for the country's ultra-high-definition television broadcasting set to launch next year, the science ministry said Tuesday.The Ministry of Science, ICT and Future Planning said it preferred the ATSC 3.0 standard for UHD TV broadcasting that begins next February over the Europe-based DVB-T2 standard.UHD TVs manufactured by local TV makers have so far been based on the DVB-T2 broadcasting system and will require a

Technology July 26, 2016