South Korea and the United States are closely watching North Korea for any signs for a possible imminent provocation, the foreign ministry in Seoul said Thursday, amid concerns that Pyongyang is preparing a missile test-fire that runs counter to global sanctions."Military authorities of South Korea and the US are closely monitoring any signs of the North's ballistic missile test," Cho June-hyuck, a ministry spokesman, said at a regular press briefing. "The North should come out to the negotiatin

North Korea July 20, 2017

President Moon Jae-in on Thursday appointed Kim Yong-beom, the secretary-general of the Financial Services Commission, as its new vice chairman, the presidential office Cheong Wa Dae said."Kim, an official well versed in finance, is best suited to carry out the new government's financial policy as he is equipped with expertise, professionalism, planning and analytic capabilities, and communication skills," presidential spokesman Park Soo-hyun told reporters. This photo, taken on July 19, 2017, s

Politics July 20, 2017

Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Thursday that it has delivered an offshore oil stage facility, the fourth of five orders scheduled for this year.In 2012, Daewoo Shipbuilding clinched a $2 billion contract from Inpex Corp. of Japan to build the so-called floating production and storage offloading unit.The FPSO, measuring 336 meters long and 59 meters wide, is designed to process and store oil or natural gas, and can be maneuvered to serve different l

Industry July 20, 2017

South Korea's finance chief said Thursday that he will try to shift the country's economic paradigm to try to address chronic low growth and the deepening social divide.The country's central bank has lately raised its growth outlook for the gross domestic product to 2.8 percent for 2017, up 0.2 percentage point from its estimate released in April.The Bank of Korea said it expects the economy could grow 2.9 percent in 2018 on the back of global economic recovery and increased domestic spending. A

Economy July 20, 2017

Kia Motors Corp. on Thursday domestically launched a face-lifted Sorento crossover to maintain its edge in the midsize SUV market. The upgraded Sorento incorporates a new grille and front and rear graphics and LED accents that make the car sharper. It can be equipped with a choice of 2.0-liter turbo gasoline, a 2.2 diesel or 2.0 diesel engine with buyers given the option of an eight-speed automatic transmission, the first of its kind for a locally produced midsize SUV, the company said in a stat

Mobility July 20, 2017

The South Korean government has invited some US teachers to an annual program meant to enhance public awareness on the historic meaning of the 1950-53 Korean War, a related ministry said Thursday.The weeklong camp to open Sunday is timed with the 64th anniversary of the signing of the Armistice Agreement that put an end to the conflict.Around 30 teachers and college professors of history and sociology will take part in the event, according to the Ministry of Patriots & Veterans Affairs. Particip

Social Affairs July 20, 2017

Rival parties agreed Thursday to pass a bill on government reorganization after an intense tug of war, giving a much-needed boost to President Moon Jae-in's efforts to complete his nascent administration.A parliamentary committee handling the issue endorsed the bill soon after the agreement. The National Assembly is set to hold a plenary session later in the day to vote on it.The agreement followed days of grueling negotiations and was announced by the vice floor leaders of the ruling Democratic

Politics July 20, 2017

South Korea's defense ministry said Thursday it's still waiting for North Korea's response to its recent proposal for military talks on easing border tension.On Monday, the ministry suggested a bilateral meeting be held on Friday at the truce village of Panmunjom in what would be the first inter-Korean military talks in nearly three years. Moon Sang-gyun (Yonhap)"There is no response from North Korea yet in connection with the offer of South-North military talks," the ministry said in a statemen

North Korea July 20, 2017

North Korea said Thursday that it is nonsense for South Korea to hope to improve inter-Korean ties while taking a confrontational policy against the North without giving up its dependence on the United States.The North's comments came three days after Seoul proposed holding inter-Korean military talks on Friday to ease tensions along the tense border and Red Cross talks on Aug. 1 to resume reunions of families separated by the 1950-53 Korean War.Rodong Sinmun, North Korea's main newspaper, calle

North Korea July 20, 2017

Asiana Airlines Inc., South Korea's No. 2 full-service passenger carrier by sales, said Thursday it will deploy its second A350 jet on long-haul routes from next week.The second of four A350 jets scheduled to be delivered this year arrived at the Incheon International Airport later in the day after a day-long flight from Airbus, a Toulouse-based civil aircraft manufacturer, the company said in a statement.  (Yonhap)The second A350 will carry passengers on routes to Shanghai and Singapore from Tu

Companies July 20, 2017

Woori Bank, a major South Korean commercial lender, said Thursday its net profit for the first six months of this year jumped 46.4 percent on year, thanks to a solid gain in both interest and non-interest income.Net profit jumped to 1.09 trillion won ($971 million) in the January-June period on a consolidated basis, the lender said in a statement. It marked the biggest six-month profit since 2011, the lender said. For the second-quarter of this year, Woori Bank's net profit soared 50.1 percent o

Market July 20, 2017

A contingent of South Korean troops in Lebanon commemorated the 10th anniversary of deployment there this week, military authorities in Seoul said Thursday. South Korean troops in Lebanon conduct a reconnaissance mission in this undated file photo provided by South Korea`s military. (Yonhap)The Dongmyeong unit, based in Tyre, a southern city close to the border with Israel, is the longest-serving South Korean force abroad, as it's active in support of the peacekeeping operation of the UN Interim

Defense July 20, 2017

CLIFFSIDE PARK, New Jersey -- A monument was unveiled in New Jersey Wednesday to commemorate the Korean women who were forced into sexual slavery for Japanese troops during World War II.The marble tablet was erected by the local Korean community in front of Trinity Episcopal Church near Cliffside Park during a ceremony attended by members of the Korean community, American veterans of the Korean War, and local officials. A monument to comfort women stands in the garden of Trinity Episcopal Church

Social Affairs July 20, 2017

Senior diplomats of South Korea, the United States and Japan met here Wednesday and reaffirmed the importance of trilateral cooperation in resolving North Korea's nuclear conundrum, the State Department said.The meeting involved Ma Sang-yoon, director-general of the South Korean Foreign Ministry's policy planning bureau, Brian Hook, senior policy adviser to the US secretary of state and director of policy planning, and Satoshi Suzuki, Japan's deputy foreign minister for foreign policy."During th

North Korea July 20, 2017

Mercedes-Benz and Aston Martin will recall 24 vehicles in South Korea for faulty parts, the transport ministry said Thursday. This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport to both domestic and foreign carmakers. The carmakers plan to recall two different models totaling 24 units. The models include Mercedes-Benz's AMG E63 4MATIC high-performance car and Aston Martin's DB11 super car, the ministry said in a statement.  (Yonhap)The pro

Mobility July 20, 2017