The delinquency rate of South Korean banks' won-denominated loans fell to a record low in June as banks significantly resolved distressed loans, government data showed Wednesday.The rate for bank loans more than 30 days overdue stood at 0.43 percent at the end of June, down 0.15 percentage point from a month earlier, according to the data by the Financial Supervisory Service. Compared to a year ago, the rate was down 0.28 percentage point, it said. The end-June reading was the lowest rate since

Economy Aug. 2, 2017

WASHINGTON (Yonhap) -- US President Donald Trump has said he will go to war with North Korea if the communist regime continues to threaten the US with its nuclear and missile programs, an influential Republican senator said Tuesday.Sen. Lindsey Graham relayed his discussions with the president on NBC's "Today Show.""There will be a war with North Korea over the missile program if they continue to try to hit America with an ICBM," the senator said. "He's told me that. I believe him. If I were Chi

North Korea Aug. 2, 2017

BUSAN (Yonhap) -- The lifesaving team for Haeundae Beach, a famous tourist destination in the southeastern coastal city of Busan, took a measure to keep swimmers out of the sea on Tuesday for the second straight day due to the high possibility of a rip tide hitting them.The measure, effective from 9:00 a.m. the same day, came after a rip tide with waves 3 to 5 meters high hit the beach. A rip tide monitoring system run by the state-run Korea Hydrographic and Oceanographic Agency showed the highe

Social Affairs Aug. 1, 2017

Foreign Minister Kang Kyung-wha met with ambassadors from the Association of Southeast Asian Nations on Tuesday to discuss South Korea's cooperation with the bloc ahead of an annual regional forum set for the weekend in the Philippines.The ASEAN Regional Forum and a series of foreign ministers' meetings involving ASEAN and its partners will be held from Sunday to Tuesday in Manila to discuss diplomacy and cooperation issues.  (Yonhap)"I am looking very much forward to the meetings in Manila ...

Foreign Affairs Aug. 1, 2017

South Korea and the United States are closely coordinating their approach toward North Korea based on a mutual sense of urgency against its nuclear and missile threats, the foreign ministry said Tuesday, amid worries that Seoul could be bypassed in relevant discussions."The governments of South Korea and the US are coordinating more than ever on all issues and at every level related to the North and its nuclear problem based on their shared recognition of severity and urgency," Cho June-hyuck, f

North Korea Aug. 1, 2017

South Korean stocks closed higher Tuesday on the back of improved investor sentiment despite growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 20.25 points, or 0.84 percent, to close at 2,422.96. Trade volume was slim at 259 million shares worth 5.5 trillion won ($5.1 billion), with gainers far outnumbering losers 608 to 204.Analysts sai

Market Aug. 1, 2017

South Korea's opposition parties on Tuesday ramped up their offensive against President Moon Jae-in's pursuit of dialogue and rapprochement with North Korea, as its recent long-range missile test has brought security to the center of political debate.The main opposition Liberty Korea Party, in particular, called for a wholesale review of Moon's policy toward the provocative neighbor, stressing its Friday test of an intercontinental ballistic missile is reshaping the security landscape on the pen

Politics Aug. 1, 2017

Kia Motors Corp. said Tuesday its vehicle sales have fallen 5.6 percent last month from a year earlier largely hit by lower demand in China. The country's second-biggest carmaker by sales sold a total of 216,118 vehicles in July, down from 229,044 units a year earlier, the company said in a statement. Sharp sales declines in China continued to affect monthly results, the company said in a statement, citing political tensions between Seoul and Beijing over the deployment of the Terminal High Alti

Mobility Aug. 1, 2017

Hyundai Motor Co. said Tuesday its sales fell 1.8 percent last month from a year earlier, hit by weakening overseas demand, particularly in the Chinese market. The country's biggest carmaker by sales sold a total of 333,180 vehicles in July, down from 339,417 units a year earlier, the company said in a statement. Declining demand from China continued to affect the company's monthly sales results amid a diplomatic row between Seoul and Beijing over the deployment of the Terminal High Altitude Are

Mobility Aug. 1, 2017

International ratings agency Standard and Poor's said Tuesday it has assigned an "intermediate risk" rating to South Korea's property and casualty insurance industry, saying that the industry's strength is undermined by security risks from North Korea. In a report on the insurance industry and country risk assessment, S&P said South Korea's non-life insurers "will remain stable over the near to medium term." The assessment was based on South Korea's growing economy,

Economy Aug. 1, 2017

South Korea said Tuesday it's seeking closer ties with Indonesia on defense goods as part of efforts to expand its overall arms trade.Defense Minister Song Young-moo plans to discuss the issue when he meets his Indonesian counterpart Ryamizard Ryacudu in Seoul later in the day, according to his office.He's on a trip to South Korea to attend a delivery ceremony for a submarine built by the local defense contractor Daewoo Shipbuilding & Marine Engineering Co.Indonesia has ordered three diesel-elec

Defense Aug. 1, 2017

HONGSEONG -- A Nepalese worker died from a tick-borne disease earlier this week in South Korea's first case of the illness contracted by a man in his 20s, the South Chungcheong provincial government said Tuesday.The 24-year-old man, who had been working at a livestock farm in Hongseong, a town in South Korea's central province of South Chungcheong, was diagnosed with severe fever and thrombocytopenia syndrome, or SFTS, and treated for the disease before he died on Sunday. This undated file photo

Technology Aug. 1, 2017

Samsung Electronics Co. said Tuesday its Galaxy S8 and Galaxy S8 Plus smartphones won a top-level certificate from an environmental evaluation conducted in the United States.The South Korean tech giant said the smartphones won the Gold rating from the Electronic Product Environmental Assessment Tool, approved by the Green Electronics Council and Underwriters Laboratories. (Yonhap)It marks the first time for smartphones to win a EPEAT certificate.The test focuses on various environmental aspects

Technology Aug. 1, 2017

Netmarble Games, South Korea's top mobile game developer, said the number of pre-registrations for its mega-hit title, "Lineage 2: Revolution," in Japan surpassed the 1 million mark Tuesday.Netmarble started accepting the preorders for the mobile role-playing game from the official website for Japanese players on April 28 before its launch during the third quarter of this year, the company said. The exact launch date has yet to be decided."It is very unusual for a mobile game to receive more tha

Technology Aug. 1, 2017

Hanwha Group said Tuesday it will turn 850 temporary workers into permanent employees by the first half of next year, a decision that will mostly benefit young workers at its services affiliates.Group officials said each affiliate will begin work evaluations of each temporary worker from next month for a phased transfer to permanent positions. About 660 of these workers are in the services sector of the group, including duty-free shop operator Hanwha Galleria and leisure affiliate Hanwha Hotels

Companies Aug. 1, 2017