South Korea's mobile shopping soared 41.7 percent to a record high of 2.697 trillion won ($2.4 billion) in May from a year earlier, a government report showed Monday."Purchases on mobile devices jumped last month due to convenience, competitive prices and a bigger range of products. And the trend is set to strengthen over time," an official from Statistics Korea said, citing a data report the agency compiled.Mobile shopping accounted for 52.1 percent of the country's overall online shopping sale

July 4, 2016

The South Korean government has decided to install a total of 80 new artificial reefs near the Yellow Sea border with North Korea to help thwart illegal fishing by Chinese boats, the finance ministry said Monday.Under the plan, approved in a Cabinet meeting, the vast underwater structures, weighing as much as 30 tons apiece, will be established close to the Northern Limit Line, a de-facto inter-Korean sea border, at a cost of 8 billion won ($7 million).(yonhap)Specific zones will be decided in c

International July 4, 2016

Hyundai Merchant Marine Co., South Korea's No. 2 shipping line, on Monday said it will expand its routes linking the Middle East and the Asian region, as part of efforts to capitalize on a surge in shipping demand following the lifting of sanctions on Iran.The shipper said it will mobilize a total of 12 container ships on two separate shipping routes.So far, the shipping line has been operating just one route between the Middle East and Asia.Hyundai Merchant said it expects its market share for

Industry July 4, 2016

President Park Geun-hye on Monday pledged to rev up efforts to realize gender equality to help women reach their "full potential" at their workplaces, saying such efforts would determine national competitiveness.In a video message for an event marking Gender Equality Week, which runs until Thursday, women's participation in the workforce is crucial for the country's economy to make another "leap" forward."Realizing gender equality in tune with global standards is becoming a core (policy) task th

Social Affairs July 4, 2016

South Korea's business lobby group signed a deal with the tourism ministry on Monday as part of their efforts to boost domestic tourism and strengthen the competitiveness of the local tourism industry, officials said.The move came as the number of outbound travelers has been on the rise in recent years, a trend that has contributed to the country's tourism deficit.The Federation of Korean Industries, which speaks for South Korea's large businesses, signed a memorandum of understanding with the M

Industry July 4, 2016

The South Korean mega-hit drama "Descendants of the Sun" has been credited for driving up paid membership of a Chinese video streaming site, a report showed.The Beijing office of the Korea Creative Content Agency said that the TV series was the biggest force behind the jump in the number of paid users of iQiyi, the Chinese broadcasting and video sharing platform, citing the report titled "White Paper on Individual Consumption of Online Videos." (KBS)The series was aired in South Korea and China

Television July 4, 2016

South Korea's unification ministry on Monday said more information is needed to analyze whether control of North Korea's defense ministry has changed following the latest overhaul of cabinet organizations.The Ministry of People's Armed Forces, the North's defense ministry, was previously placed under the control of the powerful National Defense Commission before the North's parliament replaced the NDC with a newly created state apparatus named the State Affairs Commission last week.On Thursday,

North Korea July 4, 2016

President Park Geun-hye on Monday called for national unity and tighter vigilance against North Korea, noting the communist state is seeking to trigger division in South Korea and a "crack" in international cooperation against its nuclear development.During a Cabinet meeting, Park also warned against "isolationism and protectionism," stressing that South Korea should be at the vanguard of the efforts to overcome them in the wake of Britain's shocking vote to exit the European Union (EU).Presiden

North Korea July 4, 2016

South Korea on Monday condemned the terrorist attack that killed more than 100 people in Iraq, saying terrorism cannot be condoned for whatever reason.The suicide truck bomb attack, claimed by the Islamic State group, took place in downtown Baghdad Sunday, killing at least 125 people and injuring more than 150 others, according to Seoul's foreign ministry. People light candles at the scene of a massive car bomb attack in Karada, a busy shopping district in the center of Baghdad, Iraq, Sunday, Ju

International July 4, 2016

South Korea is all set to provide the world with high-resolution commercial satellite imagery from its new satellite, a government ministry said Monday.The Korea Multipurpose Satellite-3A, also known as the Arirang-3A, was put into orbit in March last year as part of South Korea's efforts to emerge as a global power in the space sector. (123rf)Built indigenously by the Korea Aerospace Research Institute in charge of the nation's space program, the earth observation satellite offers clear images

Industry July 4, 2016

President Park Geun-hye will embark on a five-day trip to Mongolia next week to attend the Asia-Europe Meeting summit and hold bilateral talks with her Mongolian counterpart, the presidential office said Monday.Park will leave for Ulan Bator on Thursday next week to attend the 11th ASEM summit, slated to take place on July 15 and the following day. Following the group summit, she will begin her official visit to the resource-rich country, which was arranged on the invitation of Mongolian Preside

Politics July 4, 2016

Prime Minister Hwang Kyo-ahn said Monday the government will make efforts to avoid tax hikes that may burden the people and businesses, amid calls by the opposition parties to raise corporate taxes."Increasing tax will emerge as the burden for the people and should be the last thing the government should consider," Hwang said during his parliamentary interpellation session. He stressed that Seoul has no plans to raise corporate and income tax for the time being."Rather than increasing taxes, we

July 4, 2016

Hyundai Motor Co.'s midsize sedan, the Sonata, has received the best evaluation from a U.S. consumer magazine, beating those by Toyota Motor and other foreign rivals, a report showed Monday.Hyundai Sonata Hybrid SE clinched the top spot in terms of the best combination of fuel economy and acceleration in a test by Consumer Reports in the midsized car category.Hyundai Sonata Hybrid SE is listed as 39 miles per gallon while it can go from zero to 60 miles per hour in 8.2 seconds.Ford Fusion SE Hyb

Mobility July 4, 2016