Kia Motors Corp., South Korea's second-largest carmaker, has ranked highest among global brands in a US quality test for the second consecutive year, a US market tracker has said."Kia ranks highest in overall initial quality for a second consecutive year with a score of 72 PP100," J.D. Power and Associates, a US-based marketing information service company, said in its 2017 US Initial Quality Study released Wednesday.The study measures the number of problems experienced per 100 vehicles during th

Mobility June 22, 2017

South Korea will have plenty of stumbling blocks ahead in its bid to assemble a unified, all-Korean women's hockey team at next year's PyeongChang Winter Olympics.New Sports Minister Do Jong-hwan told PyeongChang's organizing committee on Tuesday that he'll have discussions with the International Olympic Committee on putting together a joint Korean squad for the competition.Promoting peace has long been one of the goals of PyeongChang 2018, the first Winter Games to take place in South Korea. Wi

More Sports June 22, 2017

The United States should consider an executive order immediately banning all tourist travel to North Korea for the time being, a major US think tank said Wednesday amid outrage over the death of an American student following his comatose release from the North.The Korea Chair office of the Center for Strategic and International Studies also suggested imposing sanctions on all tour groups, including the one that took the ill-fated American student, Otto Warmbier, to the North.  (Yonhap)"The North

North Korea June 22, 2017

WASHINGTON -- The United States and China agreed Wednesday that companies of the two countries should not do business with UN-blacklisted North Korean entities, US Secretary of State Rex Tillerson said as he urged Beijing to exert "much greater pressure" on Pyongyang.Tillerson made the remark after the inaugural US-China Diplomatic and Security Dialogue that brought together the countries' top diplomats and defense chiefs. Tillerson and Secretary of Defense Jim Mattis hosted Chinese State Counci

North Korea June 22, 2017

BMW said Wednesday it will sell its 10 millionth 5 series model through an auction in South Korea later this month. It is the first time for an imported carmaker to sell their limited editions in an auction here. In January, BMW decided to allocate the 10 millionth new 5 series diesel model to South Korea, the fifth-biggest market for the German carmaker, BMW Korea said in a statement.  BMW`s 10 millionth 520d sedan (Photo courtesy of BMW) (Yonhap)An auction slated on June 28 will find the owner

Mobility June 21, 2017

Hyundai Mipo Dockyard Co., an affiliate of shipbuilding conglomerate Hyundai Heavy Industries Co., sold its stakes in the affiliate recently spun off from its parent firm, a move seen to accelerate the conglomerate's drive for a holding company structure.In March, shareholders of Hyundai Heavy approved the company's plan to hive off its noncore businesses, aimed at what it claims will boost each business unit's competitiveness.Under the plan, the shipyard split into four independent entities: sh

Companies June 21, 2017

South Korea's top economic leaders vowed on Wednesday that they will make concerted efforts to create quality jobs and stir up investment and innovation in the private sector.Finance Minister Kim Dong-yeon, Fair Trade Commission Chairman Kim Sang-jo and presidential chief of staff for policy Jang Ha-sung had trilateral talks in Seoul earlier in the day, their first since the inauguration of President Moon Jae-in on May 10, according to the Ministry of Strategy and Finance.The three policymakers

Economy June 21, 2017

South Korean stocks ended lower on Wednesday as foreigners turned net sellers tracking losses on Wall Street. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index fell 11.70 points, or 0.49 percent, to close at 2,357.53. Trade volume was moderate at 356.21 million shares worth 6.34 trillion won ($5.5 billion), with decliners outnumbering advancers 516 to 296.Foreigners sold a net 180.29 billion won worth of stocks and institutional investors also dumped share

Market June 21, 2017

South Korea's provincial airports are still coping with the drop in passenger traffic due to China's ban on package tours over a diplomatic row linked to the deployment of an advanced anti-missile system, industry sources said Wednesday. China has for the past months also restricted imports of a number of South Korean-made goods, and forced most of the 99 stores of Lotte Mart, the discount outlet chain of Lotte Group, operating in China to close, citing violations of safety regulations. (Yonhap)

Industry June 21, 2017

South Korea's tallest skyscraper built by retail giant Lotte Group received a green building certificate from a U.S.-based environment organization, Lotte Corp. said Wednesday.The 123-story Lotte World Tower received a Gold rating in the US Green Building Council's Leadership in Energy and Environmental Design system, the conglomerate said. LEED is a green building rating system that gives certifications based on various criteria from energy efficiency to indoor environmental quality, the USGBC

Industry June 21, 2017

Netmarble Games, South Korea's top mobile game developer, said Wednesday it plans to release its mega-hit title, "Lineage 2: Revolution," in Japan later this year, in a bid to further expand its presence in overseas markets.The mobile role-playing game -- which has gained huge popularity after its release in 11 Asian countries earlier this month -- will be available to Japanese users during the third quarter of this year, the company said. The exact date has yet to be decided. (Photo courtesy of

Technology June 21, 2017

South Korea's public sector net lending hit a record high last year, thanks to a robust gain in tax revenues and lower oil prices, data showed Wednesday. Net lending, which refers to total revenue minus total expenditures, came to 43.9 trillion won ($38.4 billion) in 2016, compared with 32.9 trillion won from a year earlier, according to preliminary data from the Bank of Korea.It was the highest annual net lending since the central bank began compiling statistics on the public sector account. La

Economy June 21, 2017

South Korea will seek North Korea's participation in a continental weightlifting competition to be held this fall south of the border, Seoul's sports minister said Wednesday.Do Jong-hwan, the minister of culture, sports and tourism, said South Korea will try to bring North Korean athletes on board for the 2017 Asian Cup and Interclub Weightlifting Championship starting on Oct. 18 in Yanggu, some 175 kilometers east of Seoul. In this file photo taken on Sept. 25, 2014, North Korean weightlifter K

More Sports June 21, 2017

NCsoft Corp., a South Korean online gamemaker, said Wednesday the mobile version of its mega-hit game "Lineage," "Lineage M," ranked as the No. 1 mobile application in terms of sales."Lineage M" became the most popular app both in the Google Play Store and Apple's App Store in South Korea, within seven hours of its launch, the company said. (Photo courtesy of NCsoft Corp.) (Yonhap)The new "Lineage M" features a very high degree of visual resolution, yet brings back the classic "Lineage" game by

Industry June 21, 2017

South Korean shares extended losses late Wednesday morning as foreigners dumped stocks on profit taking. The won traded lower against the dollar.  The benchmark Korea Composite Stock Price Index fell 12.58 points, or 0.53 percent, to 2,356.65 as of 11:20 a.m. Foreigners and institutional investors offloaded a combined 182 billion won ($159 million) worth of stocks. But individuals bought a net 163 billion won worth of stocks.  Large-cap stocks were mostly trading lower. Market bel

Market June 21, 2017