An oil leak at a storage facility belonging to S-Oil Corp., South Korea's third largestrefiner, continued for a third consecutive day Sunday, but was expected to be stopped before the end of the weekend, officials at Ulsan Metropolitan City Fire Department said.The leak began at about 3:30 p.m. on Friday after a mixer broke down in a tank storing 570,000 barrels of crude at the refiner's plant in Ulsan, a port city 410 kilometers southeast of Seoul, the officials said.As of 11 a.m. on Sunday, 13

Social Affairs April 7, 2014

동부그룹이 자구책으로 내놓은 핵심자산 매각방안이 5개월째 이행되지 않자 채권단이 더는 기다려줄 수 없다는 입장을 나타냈다.채권단은 유동성 위기의 동부그룹이 계속 버틸 경우 STX그룹과 동양그룹처럼 막대한 타격을 입을 가능성을 제기하고 있다. 금융감독원 역시 신속한 기업 구조조정을 주문한 상태다.4일 금융권에 따르면 채권단의 한 관계자는 동부그룹의 자구계획 이행 지연에 강한 불만을 드러냈다. 이 관계자는 “동부그룹이 구조조정을 질질 끌고 있다. 김준기 회장이 오너십에 너무 집착하고 있다”고 말했다.그는 또 “이러다가 (핵심계열사를) 못 팔게 될 수도 있다”고 말했다.금융당국도 동부그룹이 구조조정에 속도를 내지 못하자 불쾌한 심정을 감추지 못하고 있다.이와 관련해 금감원과 주채권은행인 산업은행 등은 지난 3일 회의를 통해 동부그룹 처리 문제를 논의한 것으로 알려졌다.동부그룹은 지난해 11월 3조원 규모의 재무구조개선 방안을 밝힌 바 있다. 계열사인 동부하이텍, 동부메탈, 동부제철 인천공

한국어판 April 4, 2014

A Mongolian-flagged cargo ship sank off the coast of South Korea's southern city of Yeosu on Friday, killing two of 16 North Korean crew members on board and leaving 11 missing, the Coast Guard and Seoul's unification ministry said.The 4,300-ton Grand Fortune 1 ran aground at around 1:19 a.m., some 74 kilometers off the coast of Yeosu, South Jeolla Province, after sending a rescue signal, according to officers.Of the 16 crew members aboard the ship, all North Koreans, two were found dead and thr

North Korea April 4, 2014

The former head of financially troubled shipping and shipbuilding conglomerate STX Group was called in by prosecutors Friday to face questioning over alleged embezzlement and business malpractice.Kang Duk-soo, who headed the group between 2003 and February 2014, appeared at the Seoul Central District Prosecutors' Office in southern Seoul around 9:20 a.m. to undergo questioning as a suspect in the corruption case."I apologize for causing worry to the people, and I will sincerely respond to the in

Industry April 4, 2014

South Korea has successfully test-fired an extended range ballistic missile and will develop a longer range missile capable of striking all parts of North Korea, Seoul's defense ministry said Friday.South Korea currently operates Hyunmoo ballistic missiles with a range of 300 kilometers, and has been developing longer range missiles to beef up its defense against Pyongyang under a new missile deal with the United States.The guidelines revised in October 2012 allow Seoul to extend the maximum ran

Defense April 4, 2014

Top South Korean, U.S. and Japanese nuclear envoys will gather here early next week for discussions on ways to deal with North Korea, as it threatens to take additional provocative acts, possibly including another nuclear test.The U.S. State Department announced Thursday that Washington's special representative for North Korea policy, Glyn Davies, will host the trilateral session four days later.It is intended to "exchange views on a wide range of issues" related to North Korea, the department s

North Korea April 4, 2014

South Korea named its new chief negotiator for the six-party talks on ending North Korea's nuclear weapons program on Thursday ahead of a scheduled meeting with the envoys from the United States and Japan.Hwang Joon-kook, the ambassador in charge of negotiations for the South Korea-U.S. defense cost sharing pact, replaces Cho Tae-yong, who was promoted to vice foreign minister earlier this year, according to the Ministry of Foreign Affairs.The 54-year-old career diplomat led the South Korean del

North Korea April 3, 2014

Seoul City signed an agreement with Beijing Thursday to make joint efforts in tackling air pollution, including hazardous ultrafine dust that has been increasingly affecting Northeast Asia.The agreement, signed between Seoul Mayor Park Won-soon and his counterpart Wang Anshun during Park's one-day visit to the Chinese capital, calls for the establishment of an environmental team within a joint committee in charge of economic and cultural exchange projects.The committee, set up by the local gover

April 3, 2014

The drone that crashed on a South Korean border island during Pyongyang's live-fire drill earlier this week is believed to have been sent from an airport on the west coast of North Korea, a military official said Thursday.South Korea collected the drone from Baengnyeong Island, just south of the western maritime border during North Korea's live-fire drill on Monday.The drone was discovered while South Korean Marines returned artillery fire after some of the North's shells fell into southern wate

North Korea April 3, 2014

South Korean banks forecast the credit risks of households to stay high in the second quarter on concerns over excessive household debt, the central bank said Thursday.An index gauging larger firms' credit risks came in at 25 for the April-June period, unchanged from the previous quarter, according to a survey of 16 local banks conducted by the Bank of Korea. The number marked the highest level since 28 tallied for the first quarter of last year.Credit risks refer to the likelihood of borrowers

April 3, 2014

South Korea's science ministry said Thursday it will host a ministerial-level meeting next year to discuss solutions to environmental pollution and resource shortages, with science ministers and other representatives from OECD member nations set to attend.The Ministry of Science, ICT and Future Planning said the two-day meeting of the Committee of Science & Technological Policy at Ministerial Level under the Economic Cooperation and Development, will kick off in Daejeon, 164 kilometers south of

Social Affairs April 3, 2014