Five South Korean firms gained government approval to carry out their voluntary corporate restructuring through fast-track legal and administrative procedures, the ministry said Tuesday.The Ministry of Trade, Industry and Energy said a government panel chose the five companies, which include LS Metal, an affiliate of the country's 16th largest business group of LS Group; Kahn PI Co., a ship materials manufacturing firm; and Sungwook Steel Co., to endorse their proposed restructuring efforts to b

Industry Feb. 28, 2017

South Korean households headed by people in their 40s saw their monthly income rise at the slowest pace ever in 2016, data showed Tuesday, sparking concerns it could further dampen the nation's anemic consumption.According to the data by Statistics Korea, the average monthly income of those households came to 5,005,000 won ($4,414) last year, up a mere 0.9 percent from a year earlier which compares to the 2.8 percent on-year expansion the previous year. (Yonhap)It also marked the lowest annualiz

Feb. 28, 2017

Sales of an anti-nicotine tablet have spiked by more than eightfold in South Korea over the past two years, industry data showed Tuesday, as more smokers opt to quit amid bolstering government efforts on an anti-smoking campaign.The annual sales of Champix, a prescription medication designed to treat nicotine addiction, reached 42 billion won ($37.02 million) at the end of 2016, compared with 5 billion won recorded in 2014, according to the company and industry sources.  (Yonhap)Its on-year sale

Industry Feb. 28, 2017

South Korean manufacturers' business sentiment for next month improved, as they expect an increase in domestic demand and exports, central bank data showed Tuesday.The business survey index of manufacturing firms came to 81 in March, up from 76 in February, according to the Bank of Korea.(Yonhap)A reading over 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.An index measuring local firms' sentiments toward exports came to 92 for next month, up fro

Industry Feb. 28, 2017

South Korea's lawmakers raised 53.5 billion won ($47.1 million) in donations in 2016, data showed Tuesday, with the main opposition party taking in the largest amount.The combined figure marks a 47.8 percent spike from a year earlier, apparently helped by the general election, which took place in 2016.South Korea's National Assembly (Yonhap)According to the data compiled by the National Election Commission, the main opposition Democratic Party received 22.3 billion won, followed by the ruling Sa

Social Affairs Feb. 28, 2017

North Korea's trade with the European Union shrank for the third consecutive year in 2016 amid international sanctions against the North, a US media outlet said Tuesday.European flags fly in front of construction in the European district in Brussels on Feb. 18, 2016, in this photo released by Europe's news photo agency EPA. (Yonhap)The 2016 trade volume was tallied at about $29 million, marking a 6.6 percent decrease from a year ago and one tenth of the peak figure recorded in 2006, Voice of Ame

North Korea Feb. 28, 2017

One out of 10 foreigners living in South Korea are illegal aliens, government data showed Tuesday.According to the data released by the Ministry of Justice, 211,320, or 10.5 percent of the total number of foreigners living here as of end-January, are staying without a valid visa. (Yonhap)The number is up 1.1 percent from what was tallied the previous month, which stood at 208,971, it said. The total shot up to 223,464 in 2007 and dropped to 177,955 in 2009. Since 2014, the number has hovered aro

Social Affairs Feb. 28, 2017

Bus drivers will be required to take longer and more frequent breaks during their driving hours as a way of enhancing passenger safety, the transportation ministry said Tuesday.Starting from Tuesday, those driving city buses are required to take a minimum 10-minute break after each complete run, according to the Ministry of Land, Infrastructure and Transport.(Yonhap)They will be required to take a 15-minute rest should their route take more than two hours to be completed and a 30-minute break fo

Social Affairs Feb. 28, 2017

The global anti-chemical weapons watchdog has denounced as "deeply disturbing" the use of a banned chemical weapons agent in the killing of the half brother of North Korean leader Kim Jong-un.The Organization for the Prohibition of Chemical Weapons issued the statement after Malaysian police determined that the nerve agent VX was used in the killing of Kim Jong-nam, the North Korean leader's estranged brother, at Kuala Lumpur International Airport on Feb. 13. (Yonhap)"The Malaysian authorities s

International Feb. 28, 2017

North Korea is "completely unhinged" and it's impossible to hold negotiations with the communist nation, the US House Intelligence Committee chairman said Monday."The North Korean regime is completely unhinged. They've long been unhinged. And the closer they get to ability to not only detonate a nuclear weapon, but also deliver that nuclear weapon, we have to take that seriously," Rep. Devin Nunes (R-CA) told reporters."This is not a regime that ... by any stretch of the imagination, you can hav

International Feb. 28, 2017

이효리가 야외에서도 당당히 탈의하는 영상이 공개됐다.(사진=코스모폴리탄 영상 캡쳐)패션잡지 <코스모폴리탄>은 최근 “소길댁 이효리, 컴백 화보 메이킹 영상”이라는 제목의 영상을 공개했다.이 영상에서 이효리는 호주 브리즈번의 도로 한복판에서 아무 거리낌없이 자유롭게 옷을 갈아입는다.이효리는 최근 코스모폴리탄 뷰티와 함께 3월호 화보를 찍었다. 그는 인터뷰에서 미모 유지 비결이 "꾸준한 반신욕과 새벽 요가 수련 덕분"이라고 밝혔다.  그는 지난해 11월 키위미디어그룹과 전속계약을 맺었다. 신곡작업에 착수한 그는 컴백을 준비 중이다. 코리아헤럴드 지예은 인턴기자 (yeeunjie@heraldcorp.com)

한국어판 Feb. 28, 2017

South Korean businesses continue to remain pessimistic about their business conditions in the future, but their sentiment improved slightly for the upcoming month, a survey showed Tuesday.The business survey index for March came to 92.1, up from 87.7 registered for this month, according to the Federation of Korean Industries. (Yonhap)A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite. The index has remained below the benchmark since M

Industry Feb. 28, 2017

About 10,000 workers from Samsung Group’s affiliates participated in a blood donation campaign aimed to boost the nation’s blood reserves, the group said Monday.The nation’s largest conglomerate launched the campaign earlier this month at each affiliate’s office. The group’s affiliates, including Samsung Electronics and Samsung C&T, plan to donate 10,000 won ($8.85) per worker participating in the campaign. The funds will be donated to charity organizations including the Korean Association of Me

Industry Feb. 27, 2017

South Korea's spy agency said Monday that the North Korean government was behind the assassination of Kim Jong-nam, adding that those involved worked for the country's foreign ministry and spy body.During a closed door meeting with lawmakers, the National Intelligence Service said four of the eight suspects behind the murder worked for Pyongyang's Ministry of State Security, with two others being from the foreign ministry. North Korean leader Kim Jong-un's half brother Kim Jong-nam was killed in

North Korea Feb. 27, 2017

Hallyu is strong in Mangolia, where there are three streets named after Korean places and around 7 in 10 cars are from Korea. Many stores also sell Korean products, including cigarettes. KT&G is showing a high growth rate in the country, which is a rising market for the exports of Korean firms.  KT&G products ESSE Blue and ESSE Change are being sold in a wholesale store situated in the downtown area of Ulaanbaatar, Mongolia. (KT&G)The company started off by selling 4.7 million cigarettes there i

Industry Feb. 27, 2017