South Korean makers of electric and electronics products have been the best performers in the country's main stock market so far this year on the back of chipmakers' strong showings, data showed Friday.The subindex for the electric and electronics industry climbed 9.24 percent between Jan. 2 and Feb. 22, the highest growth rate among the 18 sectors of the main bourse, according to the data by the Korea Exchange. This photo, taken on Jan. 26, 2017, shows a woman checking the share price of Samsun

Industry Feb. 24, 2017

The half brother of North Korean leader Kim Jong-un was killed with the toxic VX nerve agent, a statement by Malaysian police showed Friday.Traces of the nerve agent were found on swabs of the North Korean's face and eyes, according to a preliminary analysis from the Chemistry Department of Malaysia, it said. (Yonhap)Kim Jong-nam, the first son of late former leader Kim Jong-il, was killed at an airport in Malaysia on Feb. 13 after two Asian women allegedly wiped a toxic substance on his face.VX

North Korea Feb. 24, 2017

South Korea's main opposition Democratic Party on Friday urged the acting president to extend the term of the independent counsel investigating a corruption scandal involving President Park Geun-hye.Opposition parties have been seeking to adopt a bill to extend the activity of the independent counsel whose term ends this month, but Acting President and Prime Minister Hwang Kyo-ahn, who has the authority to extend the term by 30 days, remains silent on the issue. Rep. Choo Mi-ae, head of the Demo

Politics Feb. 24, 2017

Special prosecutors on Friday questioned a presidential aide in connection to allegations that President Park Geun-hye received medical treatment from people without due safety checks, as they prepare to wrap up the scandal probe that has rocked the country for the past several months. Lee Young-seon appeared at the special investigation team's office in southern Seoul to undergo questioning as a suspect over allegations that he helped uncertified medical practitioners enter the presidential off

Politics Feb. 24, 2017

Luxury international hotel chains are scrambling to expand their establishments in key districts of Seoul, on the back of increasing demand from local residents opting for overnight relaxation as well as the steady growth of foreigners, industry sources said Friday. Lotte Hotel Co., an affiliate of retail conglomerate Lotte Group, is scheduled to open its first premier hotel Signiel Seoul in April, in its skyscraper Lotte World Tower in eastern Seoul.  (Yonhap)Located from the 76th to 101th floo

Industry Feb. 24, 2017

China's Amperex Technology Limited became one of the two main suppliers for Samsung Electronics Co.'s new Galaxy Tab S3 tablet computer, an industry source said Friday. The move indicated that Samsung would maintain its cooperation with ATL, which supplied the batteries to Samsung that caused the Galaxy Note 7 smartphones to catch fire.  This recently released photo shows an invitation to a press conference by Samsung Electronics Co. at the Mobile World Congress in Spain. (Yonhap)The Tab 3 will

Industry Feb. 24, 2017

South Korea's top financial regulator called on the local insurance industry Friday to take the rapid technology development related to self-driving cars into account in setting premiums.Yim Jong-yong, chairman of the Financial Services Commission, cited a looming paradigm shift in the financial sector in the era of the fourth industrial revolution. Yim Jong-yong, chairman of the Financial Services Commission, speaks at a meeting on the fourth industrial revolution in Seoul on Feb. 24, 2017, in

Feb. 24, 2017

Kia Motors Corp. is aiming to export up to 10,000 units of the soon-to-be-launched plug-in hybrid vehicle version of its Niro small SUV this year, industry sources said Friday.Kia, the No. 2 carmaker in South Korea, is scheduled to unveil the Niro plug-in hybrid in South Korea in April and debut the model in the United States and Europe during the second half of this year. The Niro hybrid electric vehicle (Kia Motors Corp.)According to the sources, Kia has set a temporary export target of around

Mobility Feb. 24, 2017

Huh Chang-soo, the current chairman of the Federation of Korean Industries, will stay in office for another three years as finding a new chief for the country's largest lobby body has made little progress with key members withdrawing their membership, industry sources said Friday.FKI board members will recommend Huh continue his duties for another three years at a board meeting to be held later in the day, according to the sources.The FKI board meeting came amid a mass withdrawal of key FKI memb

Feb. 24, 2017

Unionized workers at South Korean shipbuilder Hyundai Heavy Industries Co. launched an all-out strike for a second day on Friday demanding better working conditions and opposing the firm's spin-off scheme.The labor union leaders told all 15,000 union members to stage an eight-hour walkout starting from 8 a.m. (Yonhap)But only about 10 percent, or some 1,500 unionized workers, actually took part in Friday's strike, according to the labor union. In the previous day, around the same number of union

Industry Feb. 24, 2017

South Korean display maker LG Display Co. kept its No. 1 spot in global shipments of liquid crystal displays for televisions in January this year, industry data showed Friday. LG Display's LCD TV panel shipments rose 5 percent on-month to 4.28 million sheets last month, although the global shipments of LCD TV panels fell 8 percent on-month to 19.88 million sheets, according to industry tracker WitsView.  (Yonhap)The decline in global shipments came after Chinese and Taiwanese display makers clos

Industry Feb. 24, 2017

South Korea's financial authorities plan to ease restrictions on real estate investment by leading local investment banks in a bid to help them raise global competitiveness, officials said Friday.The government is pushing to foster homegrown, mega-sized IBs modeled after Goldman Sachs. It has decided to revise legislation within this year to allow them to expand their businesses beyond brokerage services. An image of capital investment provided from Yonhap News TV (Yonhap)Under a proposed bill,

Feb. 24, 2017

South Korea's overall consumer sentiment improved this month from a month earlier, central bank data showed Friday, as the economy got a boost from increased exports and investments.The composite consumer sentiment index for February came to 94.4, compared to 93.3 in January. The January figure was the lowest since March 2009 when it stood at 75, according to the data from the Bank of Korea. (Yonhap)A reading above 100 means optimists outnumber pessimists.A separate index gauging the people's se

Feb. 24, 2017

Mercedes-Benz Korea, the local importer and distributor of the German vehicle, will recall some 280 cars sold here for an airbag issue that has affected millions of cars of various brands throughout the world, the transportation ministry said Friday.The latest recall is part of the Takata airbag recall that has affected more than 9 million cars globally. Dimitris Psillakis, CEO of Mercedes-Benz Korea, holds a press conference in Seoul, South Korea on Jan. 16, 2017, to announce his company's busi

Mobility Feb. 24, 2017

The recent killing of the half brother of North Korea's leader would serve as momentum for relisting the communist regime as a state sponsor of terrorism, a senior South Korean official said Thursday.Kim Jong-nam, the eldest son of late former leader Kim Jong-il, died on Feb. 13 at an airport in Kuala Lumpur after apparently being poisoned by two Asian women. Malaysian police named eight North Koreans, including a diplomat, as suspects, though Pyongyang denies its involvement. (Yonhap)"There hav

Defense Feb. 24, 2017