South Korea's Lotte Group approved a planned land swap with the military on Monday, paving the way for the deployment of an advanced US missile defense system between May and July, the defense ministry said."We have received a notice from Lotte Group that the company has given the green light to the land exchange plan with the military," the Ministry of National Defense said in a text message sent to reporters.  This bird's-eye view taken on Oct. 27, 2016, shows a golf course currently owned by

Industry Feb. 27, 2017

A popular South Korean fantasy-romance drama, "Guardian: The Lonely and Great God," has disappeared from China's social media platform Weibo, industry sources said Monday, as it appears to have fallen prey to China's retaliation against Seoul's move to deploy an advanced US missile defense system.The drama's suspension came at a time when China has blocked access to newly updated clips of South Korean music and dramas on the country's online video sharing platforms. This provided image shows a p

Foreign Affairs Feb. 27, 2017

Samsung Group, South Korea's largest business conglomerate, plans to abolish its groupwide tasks and let affiliates independently make business decisions, a group official said Monday.The plan is in line with Samsung's move to abolish the group's key future strategy office, which has been responsible for coordinating key affairs among affiliates. (Yonhap)Samsung has said it will shut down the office as early as next month after the special prosecution team concludes its probe into a presidential

Industry Feb. 27, 2017

Special prosecutors plan to indict up to 15 more suspects later this week on the final day of their investigation into a massive scandal involving President Park Geun-hye and her confidante, their spokesman said Monday. The independent counsel team is set to end its 70-day probe on Tuesday as Acting President and Prime Minister Hwang Kyo-ahn refused to extend its legal term on Monday.This file photo taken on Nov. 29, 2016, shows President Park Geun-hye bowing after addressing the nation over a p

Politics Feb. 27, 2017

A local group of researchers successfully developed technology for three-dimensional inspection of container cargo that would greatly reduce inspection time and cost, the oceans ministry said Monday.The Research Institute of Ships and Ocean Engineering is the first in the world to develop the technology after nearly nine years of study totaling 25.3 billion won ($22.36 million) in research money, according to the Ministry of Oceans and Fisheries. (Yonhap)A 3D inspection would cut the needed time

Technology Feb. 27, 2017

The workforce of South Korea's pharmaceutical sector has grown by more than 27 percent in five years, data showed on Monday.A total of 94,929 people were working in the local drug industry at the end of 2016, up from 74,477 in 2011, according to the data by the Korea Pharmaceutical Manufacturers Association. The Korea Pharmaceutical Manufacturers Association said on Feb. 27, 2017, that the workforce of South Korea's pharmaceutical sector has grown by more than 27 percent in five years. (Yonhap)T

Industry Feb. 27, 2017

National Assembly Speaker Chung Sye-kyun on Monday expressed discontent against the acting president's decision to end the special investigation into the corruption scandal of President Park Geun-hye.Earlier in the day, Acting President and Prime Minister Hwang Kyo-ahn decided to reject the independent counsel's request to extend its 70-day term by a month. National Assembly Speaker Chung Sye-kyun (Yonhap)"The acting president has turned his back on the people's call for the truth and violated l

Politics Feb. 27, 2017

Ssangyong Motor said Monday it signed a licensing contract for auto parts with a Saudi firm that would allow it to locally manufacture vehicles in Saudi Arabia from 2020.With the agreement signed Saturday in Seoul, Ssangyong would provide technological assistance to Saudi National Automobile Manufacturing Co.  in building an auto production factory, localizing car parts and training technicians, the company said. (Yonhap)Ssangyong Motor is a local unit of Indian carmaker Mahindra & Mahindra Ltd.

Mobility Feb. 27, 2017

The US Air Force in South Korea is conducting a weeklong combat exercise amid growing threats from North Korea, the US Forces Korea said Monday. Aircraft and personnel assigned to the 51st Fighter Wing in Osan Air Base in Pyeongtaek, 70 kilometers south of Seoul, are participating in the Exercise Beverly Herd to sharpen their combat skills by simulating sorties in a realistic threat environment, the USFK said in a statement. (Yonhap)The exercise "provides the 51st Fighter Wing with the ability t

Defense Feb. 27, 2017

Shareholders of Hyundai Heavy Industries Co., South Korea's major shipbuilder, gave the green light on Monday to the company's overhaul scheme to split the troubled shipbuilder in an effort to regain financial health amid strong opposition from the labor union. The preliminary shareholder meeting, held earlier in the day, passed the proposal to separate the shipyard, once the world's largest, into six independent businesses, the company said.  Hyundai Heavy Industries President Kang Hwan-gu raps

Industry Feb. 27, 2017

South Korea's military said Monday that Pyongyang is presumed to be operating a regiment-level biochemical weapons unit, highlighting the need for the country to be prepared for unconventional attacks.Seoul is paying more attention to Pyongyang's development of biochemical weapons after North Korean leader Kim Jong-un's half brother Kim Jong-nam was killed in Malaysia earlier this month. The eldest son of late former leader Kim Jong-il died on Feb. 13 at an airport in Kuala Lumpur after apparent

Defense Feb. 27, 2017

 A state-run institute on chemical safety said Monday it has taken a set of measures to secure state-of-the-art equipment for effectively dealing with chemical accidents and chemical terrorism at the 2018 PyeongChang Winter Olympics and other major sports events.The measures came on the heels of the revelation that a toxic chemical, the VX nerve agent, was used in the murder of North Korean leader Kim Jong-un's half brother Kim Jong-nam.This provided photo shows a chemical agent detector being u

Social Affairs Feb. 27, 2017

The delinquency rate of domestic banks' won-denominated loans edged up in January from a month earlier, South Korea's financial watchdog said Monday.The delinquency rate for bank loans came to 0.53 percent in January, up from 0.47 percent in December, according to the Financial Supervisory Service. (Yonhap)The rate stood at 0.81 percent in October and 0.64 percent in November.The delinquency rate of loans extended to large firms stood at 0.71 percent in January, down 0.06 percentage point from a

Feb. 27, 2017

More than half of South Korean men believe that sexual violence can diminish if women are more cautious about their conduct, a government survey showed Monday, revealing that society's stigma towards sexual assault victims remains high.In a sexual violence survey by the Ministry of Gender Equality and Family on 7,200 adults aged 16 to 64 conducted from September to December last year, 55 percent of men answered "sexual violence can be reduced if women are careful." The same response among women

Social Affairs Feb. 27, 2017

South Korea needs to speed up its planned installment of a US advanced anti-missile system on its soil in a bid to minimize any damage stemming from China's strong opposition, a local expert said Monday.In July, Seoul and Washington unveiled their joint plan to place the Terminal High Altitude Area Defense system on the Korean Peninsula by the end of this year as part of efforts to better counter the growing missile threat from North Korea. China has been staunch in its opposition, saying it cou

Defense Feb. 27, 2017