The DRAM market shows signs of a turnaround, raising expectations for a recovery in South Korean producers' earnings, data showed Monday.Memory chips are among South Korea's main export items. The global price of DRAM chips suffered a fall for the 19th consecutive month since late 2014. Samsung Electronics' NAND flash memory chips (Yonhap)The spot price of the "DDR 512x8" chip, a flagship DRAM product, shifted to a rise from a decline as of June 6, according to Market tracker DRAMeXchange and in

Industry June 20, 2016

In the 1960s and '70s, stamp collecting was arguably the most popular hobby among adolescents in South Korea. When new stamps went on sale, hundreds of students formed long queues in front of post offices in large cities from the early morning hours, prompting even police to send officers to maintain order. Scores of students got called on the carpet for being late.However, South Korea's oldest hobby related to information and communications has become "an endangered interest" as the advent of t

June 20, 2016

President Park Geun-hye on Monday pledged to step up efforts to "innovate" the way the government works to strengthen communication with citizens and better cater to their needs, stressing her drive for "people-centered" state management.At the opening ceremony of an exhibition showcasing efforts to enhance government services, Park also underscored that relentless innovation is a prerequisite for the nation to achieve a "new leap forward in an era of infinite competition."President Park Geun-hy

Politics June 20, 2016

Demands for air travel between South Korea's resort island of Jeju and Chinese cities have soared over the past years, but Korean airlines have had difficulty in increasing flights due to tough regulations imposed by the Chinese government, industry data showed Monday. Out of 350 flights scheduled weekly between Jeju and Chinese cities from March 27 to Oct. 29, flights by Chinese airlines account for 86.9 percent of the total, according to the Jeju branch of the Korea Airports Corporation. The r

Industry June 20, 2016

Golden Blue is fast expanding its presence in South Korea with a low-alcohol whisky brand to lead a new trend, but its ultimate goal is to develop "real Korean whisky" made with a homemade solution, its chief executive said. Golden Blue, a homegrown whisky released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, has been increasingly widening its base among whisky lovers who prefer a mild taste and affordable price tag.Golden Blue has imported an undiluted s

Industry June 20, 2016

U.S. carmakers sold more cars in South Korea than Japan last year, industry data showed Monday, due mainly to the competitive advantages of the free trade deal between Seoul and Washington.Sales of American cars in South Korea came to 17,501 units last year, compared with 14,623 units of U.S. cars sold in Japan, according to the Korea Automobile Importers and Distributors Association and Japan Automobile Importers Association.It marked the first time that sales of American cars in South Korea ha

Mobility June 20, 2016

The presidential office Cheong Wa Dae on Monday denied the allegations that a new senior presidential secretary helped three of his wife's students land jobs at a company established by a local university where he previously lectured.Cheong Wa Dae said that Hyun Dai-won, chief presidential secretary for future strategy, would take legal action against the allegations, which he stressed were "totally groundless." Undated Photo shows Hyun Dai-won, senior presidential secretary for future strategy.

Politics June 20, 2016

South Korea's public utility rates rose at a much faster face than their overall consumer inflation in May due mainly to increased transportation fees, government data showed Monday.The country's public utility rates rose 2.2 percent in May from a year earlier, far higher than the headline inflation rate of 0.8 percent, according to the data by the nation's statistical agency, central government ministries and provincial administrations.After peaking at 2.1 percent in January 2010, the growth ra

Industry June 20, 2016

The Seoul branch of the Bank of China, a major Chinese commercial bank, may soon begin offering futures contracts on the Seoul bourse, informed sources said Monday, a move that could help significantly boost the local market.The local branch of the Chinese bank has already submitted a request to South Korea's financial watchdog, seeking permission to sell futures contracts on the South Korean stock market, according to the market sources, who spoke on condition of anonymity.The state watchdog, F

June 20, 2016

North Korea on Monday slammed South Korea for its operation with the United Nations Command to repel Chinese fishing boats operating illegally in neutral waters between the two Koreas, calling the move a "military provocation."This marks the North's first official reaction to South Korea and the UNC's joint crackdown on Chinese fishing vessels operating in the neutral waters of the Han River's estuary. The only vessels allowed to operate in the area are those manned by military police officers.S

North Korea June 20, 2016

South Korean shares opened higher Monday on eased Brexit concerns following the killing of a British politician who objected to Britain's exit from the European Union. Polls conducted after last week's murder of Labor politician Jo Cox, a fervent supporter of Britain remaining in the EU, show the "Stay" camp is now slightly ahead of the "Leave" camp in a reveral of their earlier positions. The benchmark Korea Composite Stock Price Index advanced 18.15 points, or 0.87 percent, to 1,970.38 in the

June 20, 2016

The sales of city cars in South Korea, such as the Spark and the Morning, have remained firm this year on the back of aggressive promotions by automakers, with their combined sales exceeding those of compact sedans, industry data showed Monday.According to the data compiled by the Korea Automobile Manufacturers Association, a total of 72,151 subcompact cars were sold in the country through May this year, compared with 69,978 compact sedans sold during the cited period.Currently, there are three

Mobility June 20, 2016

South Korea's ratio of income tax revenue to gross domestic product has been rising at a fast pace over the past years due largely to the increased number of taxpayers, a report showed Monday.The country's revenue from earned income and global income taxes came to 36.8 trillion won ($31.4 billion) in 2014, accounting for 2.48 percent of the overall tax revenue of 1,485.1 trillion won, according to the report based on data from the finance ministry and the National Tax Service. National Tax Servi

June 20, 2016

South Korea's producer prices dropped slightly from a year earlier in May on a large cut in prices of agricultural and fishery products, central bank data showed Monday.The producer price index for May came to 98.68, down 3.1 percent from the same month last year, according to preliminary data from the Bank of Korea.The May index marked a slight increase from a revised 98.67 in the previous month.May marked the second consecutive month of an on-month gain following eight straight months of decli

June 20, 2016