The global market for dynamic random access memory chips rose 18.2 percent on quarter during the fourth quarter of last year, thanks to rising prices of memory chips for personal computers, according to industry data Wednesday. Global DRAM revenues climbed to US$12.4 billion in the fourth quarter of last year, from $10.5 billion a quarter earlier, market researcher DRAMeXchange said in a statement.  (Yonhap)The market researcher attributed the solid growth in the DRAM market to "peak season dema

Industry Feb. 15, 2017

Special prosecutors on Tuesday sought the arrest of the de facto leader of Samsung Group on charges of bribery in relation to impeached President Park Geun-hye, after their first attempt was rejected by a local court last month.The investigation team, led by Independent Counsel Park Young-soo, in January asked the Seoul Central District Court to issue a warrant to formally detain Lee Jae-yong, vice chairman of Samsung Electronics Co., but the court did not acknowledge the necessity of the arrest

Social Affairs Feb. 15, 2017

The US State Department said Tuesday it is aware of reports that the half brother of North Korean leader Kim Jong-un has been killed in Malaysia, but declined any further comment."We are aware of reports. We refer you to the Malaysian authorities," a department spokesperson told Yonhap News Agency.(Yonhap)Kim Jong-nam, the 45-year-old eldest son of late North Korean leader Kim Jong-il, who has a different mother from the current leader, was found dead at the Kuala Lumpur airport on Monday in wha

Foreign Affairs Feb. 15, 2017

The apparent assassination of the half brother of North Korean leader Kim Jong-un raises questions about the stability of the young leader's grip on power, US experts said Tuesday.Kim Jong-nam, the 45-year-old eldest son of late North Korean leader Kim Jong-il, who has a different mother from the current leader, was killed after being attacked with poison at a Kuala Lumpur airport Monday. A source familiar with the case said agents of the Reconnaissance General Bureau, North Korea's spy agency,

North Korea Feb. 15, 2017

South Korea's annual imports of automobiles topped $10 billion for the second consecutive year in 2016 despite lingering repercussions stemming from Volkswagen's emissions scandal, industry data showed Wednesday.According to the data by the Korea International Trade Association, South Korea imported a total of $10.63 billion (about 12.1 trillion won) worth of foreign vehicles last year, but the reading marks a 1.4 percent dip from the previous year's $10.78 billion. (Yonhap)The country's foreign

Mobility Feb. 15, 2017

Special prosecutors on Wednesday formally arrested a former university president over allegations she gave admission and grading favors to the daughter of President Park Geun-hye's close friend who is at the center of an influence-peddling scandal.The Seoul Central District Court issued an arrest warrant for Choi Kyung-hee, who headed Ewha Womans University in Seoul from 2014 to 2016, on charges of obstruction of duty for allegedly giving undue favors to Chung Yoo-ra, the daughter of Choi soon-s

Social Affairs Feb. 15, 2017

Nearly 6 in 10 South Korean venture companies go belly-up within three years after establishment due to an insufficient investment system and difficulties finding a market, a report showed Wednesday.According to the report compiled by the Korea Chamber of Commerce and Industry, the number of venture startups in South Korea has exceeded a record number of 30,000 due to sharply lowered entry barriers over the past decade. A fair for venture startups is under way at the Convention and Exhibition Ce

Industry Feb. 15, 2017

South Korea's Acting President and Prime Minister Hwang Kyo-ahn will hold a National Security Council meeting to discuss the apparent assassination of North Korean leader Kim Jong-un's half brother, his office said.The NSC Standing Committee session, which is to begin at 8:50 a.m., will bring together top security and diplomatic officials, including the ministers of foreign affairs, defense and unification, and the head of the National Intelligence Service. Acting President Hwang Kyo-ahn (Yonhap

Defense Feb. 15, 2017

South Korean parties on Wednesday expressed concerns over the apparent assassination of North Korean leader Kim Jong-un's half brother, urging the government to keep vigilant on possible provocations by the North.Sources said Kim Jong-nam, the 45-year-old eldest son of late North Korean leader Kim Jong-il, was killed after being poisoned in Malaysia on Monday. This undated file photo shows North Korean leader Kim Jong-un's half brother Kim Jong-nam. (For Use Only in the Republic of Korea. No Red

Defense Feb. 15, 2017

(Yonhap)Prison is where those convicted of breaking the law are forcibly confined. But what if they could freely move in and out of their cells to the outside world to commit crimes?The new Korean crime thriller "The Prison," coming out next month, is based on this premise."The idea abruptly sprang into my mind," its director Na Hyun said during a news conference for film at a cinema in southern Seoul on Tuesday. "I then began writing a draft of the screenplay, asking myself that if a prime susp

Film Feb. 14, 2017

Seo Seog-goo spread open the flag as he turned around to face the audience inside the main courtroom of the Constitutional Court where the 13th hearing of the president's impeachment trial was about to begin. He smiled and stood up for a moment before a court official intervened. The lawyer then put the flag back in his bag.Seo has been one of the most outspoken lawyers on Park's 15-member legal defense team, comparing the president's misfortunes to the persecution of Jesus and sometimes shoutin

Politics Feb. 14, 2017

South Korea's police said Tuesday they will send more officers to the Philippines to cope with increasing crimes against Korean nationals in the Southeast Asian country.Deputy Commissioner General Kim Guy-chan visited Manila for talks with Philippine police chief Ronald Dela Rosa to discuss a recent murder case involving a South Korean businessman.This photo provided by the National Police Agency shows Deputy Commissioner General Kim Guy-chan (L) talking with Philippine police officers at the So

International Feb. 14, 2017

South Korea's financial watchdog said Tuesday that the total amount of dormant financial assets reached 4.38 trillion won ($3.8 billion) last year as customers forgot to withdraw their deposits or redeem rewards points.Among them, credit card rewards points accounted for half with 2.19 trillion won as of the end of September, according to the Financial Supervisory Service. (Yonhap)Credit card rewards points usually expire after a certain period unless customers redeem them.Unclaimed assets from

Feb. 14, 2017

A state-backed ship financing firm will buy stocks and debts to be sold by Hyundai Merchant Co., a major shipping firm here, as part of efforts to help jack up its financial status, a senior financial regulator said Tuesday.Korea Shipping Co. was established this month with an initial capital of 1 trillion won ($878 million) to help local shipping lines buy new vessels. (Yonhap)The measures aim to support local shipping firms, as well as shipbuilders, struggling with falling new orders and mount

Feb. 14, 2017

Japan renewed its claim to South Korea's easternmost islets of Dokdo in a revised guideline for school textbooks unveiled on Tuesday. The textbook guideline, posted on Tokyo's e-government website for public view before the official announcement, will apply to elementary school textbooks from 2020 and to middle school books from 2021.Dokdo (Yonhap)Currently, Japan is teaching its elementary and middle school students in social studies textbooks that Dokdo, called Takeshima in Japan, is its terri

International Feb. 14, 2017