South Korean stocks slipped 0.13 percent on Monday as renewed optimism over the eurozone debt crisis faded amid concerns over downbeat economic data and second-quarter earnings, analysts said. The local currency fell against the U.S. dollar.After opening higher, the benchmark Korea Composite Stock Price Index (KOSPI) fell 2.36 points to close at 1,851.65, stemming a two-session winning streak. Tra

July 2, 2012

North Korea's state-run media have been playing a new hymn dedicated to the country's leader Kim Jong-un in an apparent effort to reinforce his personality cult and justify the regime's hereditary succession of power.The title of the song, "Onwards toward the final victory," is the last phrase of Kim's speech on April 15, which marked the 100th birth anniversary of his grandfather, the country's f

North Korea July 2, 2012

Most of South Korea's 10 largest conglomerates are estimated to have suffered a drop in their earnings in the first half of the year from a year earlier amid economic woes and declining demand in advanced economies, data showed Monday.With the exception of Samsung and Hyundai Motor Group, eight of the top 10 conglomerates saw their first-half business results worsen, according to data from financi

July 2, 2012

South Korea will press ahead with the signing of a landmark military pact with Japan after briefing the National Assembly about it, a senior official said Monday, dismissing speculation the sensitive accord could be scrapped altogether due to mounting public criticism.On Friday, the government put the General Security of Military Information Agreement (GSOMIA) on hold at the last minute – just an

Defense July 2, 2012

South Korea is considering accepting Iran's proposal to supply oil to Seoul using its own oil tankers, a government source said Monday, after oil imports from Tehran were halted due to the European Union's ban on insuring Iranian oil shipments.Iran has proposed that South Korean oil refiners use Tehran's own oil tankers, a move that would allow them to receive crude shipments without concerns over

Foreign Affairs July 2, 2012

South Korean stocks began higher on Monday as a set of measures reached at a recent European Union (EU) summit relieved investors' worries, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 0.32 percent, or 6.02 points, to 1,860.03 in the first 15 minutes of trading.On Friday, EU leaders agreed on several short-term steps to bolster their monetary union and save debt-ri

July 2, 2012

South Korean stocks rallied 1.91 percent on Friday as European leaders reportedly decided to ease bailout rules for debt-ridden governments, analysts said. The local currency gathered ground against the U.S. dollar.The Korea Composite Stock Price Index (KOSPI) climbed 34.83 points to finish at 1,854.01. Trading volume was moderate at 309.8 million shares worth 4.29 trillion won (US$3.73 billion) w

June 29, 2012

Police in Massachusetts said an alleged burglar was foiled when his head became stuck under a garage door for several hours.Brockton police said an employee at the local Rent-A-Center showed up for work around 9 a.m. Tuesday and discovered Manuel Hernandez, 54, with his head stuck between the garage door and the ground, WHDH-TV, Boston, reported Thursday."Obviously the employee was surprised and c

World News June 29, 2012

South Korean stocks got off to a weak start Friday as investors avoided risky bets pending the outcome of a European summit aimed at addressing the region's fiscal crisis, analysts said.The Korea Composite Stock Price Index (KOSPI) lost 9.37 points, or 0.52 percent, to 1,809.81 in the first 15 minutes of trading.Tech blue-chips and chemical issues led the decline, with market bellwether Samsung El

June 29, 2012

TEHRAN  - Iran will reconsider its ties with South Korea if the Asian nation halts imports of Iranian oil from Sunday, as Seoul has said it will be forced to do because of EU sanctions."If South Korea completely cuts its oil imports from the Islamic Republic of Iran, then in return we will reconsider our relations with this country,"Oil Minister Rostam Qasemi said on Thursday, according to the off

Foreign Affairs June 29, 2012

N.Korean claims South agents tricked her to defectPYONGYANG--A North Korean woman said Thursday that she was tricked into defecting six years ago by South Korean agents who offered to arrange a reunion with her father who went to the South during the Korean War.The rare public account that 66-year-old Pak Jong Suk told to local and foreign reporters at a news conference at the People's Palace of C

North Korea June 29, 2012

South Korea's industrial output grew in May from a year earlier despite persistent eurozone debt problems and market uncertainties, a government report showed Friday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 2.6 percent last month from a year earlier. In April, the output remained unchanged from the same month in 2011.Industrial pro

June 29, 2012

South Korean stocks closed almost unchanged Thursday as nagging eurozone concerns offset improved U.S. economic data, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index (KOSPI) gained 1.53 points, or 0.08 percent, to finish at 1,819.18. Trading volume was light at 305 million shares worth 3.10 trillion won (US$2.68 billion) with losers just outpaci

June 28, 2012

South Korea is set to sign a military pact with Japan on Friday, marking the first military agreement between the two historical rivals, a senior Seoul official said Thursday, despite lingering bitterness over Tokyo's colonial atrocities.Japan notified South Korea that its Cabinet would approve the pact Friday and the signing will be made in Tokyo immediately after the endorsement, the foreign min

Defense June 28, 2012