SEOUL, Oct. 5 (Yonhap) -- South Korea's foreign exchange reserves fell by the most in nearly three years in September due mainly to the weaker dollar conversion value of non-dollar assets and suspected dollar-selling intervention.The country's foreign reserves reached $303.38 billion as of the end o

Oct. 5, 2011

NARRABRI, Australia -- Daewoo International Corp., Korea’s leading trading company, is making fast progress in resources development in Australia.The trading firm shipped 75,000 tons of coal extracted from Narrabri, 600 kilometers northeast of Sydney, to Japan on Thursday. It was the first time Daew

Industry Sept. 28, 2011

SEOUL, Sept. 23 (Yonhap) -- The education ministry has singled out five uncompetitive state-funded universities in preparation to force them to carry out reforms aimed at improving the quality of their education, officials said Friday.The move is the latest in a nationwide series of education reform

Social Affairs Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- Prosecutors applied for an arrest warrant Friday for a former presidential aide accused of receiving bribes from a troubled savings bank that sought his influence to avoid suspension of operations. The Supreme Prosecutors' Office filed for the court-issued warrant in orde

Social Affairs Sept. 23, 2011

It marks the second year in a row of strong growth for an endowment that fell by $11 billion to $26 billion during the fiscal year that ended June 2009. The endowment grew to $27.6 billion in the 2010 fiscal year.Harvard Management Company President and CEO Jane Mendillo said active management of in

Podcast Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- The average age of chief executive officers in South Korea rose slightly this year from one year ago, a report showed Friday. But the average age of Samsung Group, South Korea's largest family-controlled industrial group and parent of Samsung Electronics Co., fell on the

Industry Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- South Korea's foreign minister plans to call on his Japanese counterpart this week to accept a proposal by Seoul to hold talks on the issue of compensation for Korean women forced into sexual slavery for Japan's World War II soldiers, a Seoul official said Friday. Foreign

Foreign Affairs Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- Finance chiefs of the leading 20 countries have agreed to intensify cooperation to tackle the global economic crisis, stemming from deepening anxiety over fiscal soundness and stagnant economic recovery in Europe and other major advanced countries.The leaders promised to

World News Sept. 23, 2011

BEIJING (AP) _ A Chinese man has been detained on suspicion of keeping six women in secret underground rooms as his sex slaves for two years and killing two of them, a state-owned newspaper reported Friday.The Southern Metropolis Daily said that over the past two years, the man, Li Hao, allegedly ki

World News Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- South Korea's state-run power company said Friday it seeks to introduce a new bill to regulate power consumption during emergencies following widespread blackouts that affected homes and businesses across the country last week. South Korea reported a nationwide power outa

Politics Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- Prosecutors on Friday raided seven savings banks whose operations were suspended last week due to large debts and insufficient capital in search of possible irregularities by the executives and large shareholders of the banks.Scores of prosecutors and police investigators

Social Affairs Sept. 23, 2011

SEOUL, Sept. 23 (Yonhap) -- The head of one of the nation's seven savings banks whose operations were suspended due to capital shortages last week was found dead in an apparent suicide Friday, police said.Jeong Gu-haeng, 50-year-old president of Seoul's Jeil 2 Savings Bank, appears to have jumped fr

Social Affairs Sept. 23, 2011

Arnold Schwarzenegger is writing his memoirs with the title "Total Recall," the actor-turned-politician's publisher said Thursday, but it is unclear if it will cover his recent marital troubles.The book, subtitled "My Unbelievably True Life Story," presents "a larger-than-life portrait of his illust

Film Sept. 23, 2011