South Korean stocks opened slightly higher Wednesday, tracking overnight gains on Wall Street that were spurred by positive consumer data, analysts said. The benchmark Korea Composite Stock Price Index rose 5.08 points, or 0.23 percent, to 2,168.39 in the first 15 minutes of trading.  US markets rallied after the data showed that its consumer confidence for March surged to an over 16-year high, underlining that its economy remains sound with a narrowing trade deficit and anticipation for a bette

March 29, 2017

Four South Korean firms gained government approval to carry out their voluntary corporate restructuring through fast-track legal and administrative procedures, the industry ministry said Wednesday.The Ministry of Trade, Industry and Energy said a government panel chose four companies -- including Taekyung Heavy Industries Co., a midsized ship materials manufacturer -- to endorse their proposed restructuring efforts to boost competitiveness. (Yonhap)Mytec Co., a vessel air cooler manufacturing fi

Industry March 29, 2017

The South Korean currency is expected to strengthen further against the US dollar for the time being on the Fed's confirmation of its tight monetary policy and other factors, analysts said Wednesday.With the greenback remaining weak against major Asian monetary units, the local currency is highly likely to rise above 1,100 won per dollar in April, but it will have a limited impact on South Korean exporters and the stock market. (Yonhap)Donald Trump's victory in the US presidential election in No

March 29, 2017

South Korean manufacturers' business sentiment for next month improved slightly as local companies expect a steady improvement in exports, data by the central bank showed Wednesday.The business survey index of manufacturing firms came to 82 in April, up from 81 in March, 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 nex

Industry March 29, 2017

South Korean businesses are not expecting a sudden improvement in business conditions in the near future, but their sentiment about the overall economy improved slightly for April, a survey showed Wednesday.The business survey index for the upcoming month came to 93.3, slightly up from 92.1 registered a month earlier, the Federation of Korean Industries said in a statement.  (Yonhap)A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.T

Industry March 29, 2017

A group of lawmakers from the largest Democratic Party on Tuesday submitted to the National Assembly a resolution calling on the Seoul government to seek parliamentary consent for the installation of a US missile defense system to South Korea.In the resolution, the 29 lawmakers, represented by Rep. Kim Kyung-hyup, also demanded that China stop its economic retaliation against South Korea over the ongoing deployment of a Terminal High-Altitude Area Defense battery. Presidential hopefuls of the li

Politics March 29, 2017

In Myung-jin, the interim leader of the conservative Liberty Korea Party, said Wednesday he will step down later this week after the party picks its nominee for the May 9 presidential election.During a press conference, the Christian pastor said that his mission to revamp the party in the wake of a massive corruption scandal involving former President Park Geun-hye has been completed. In Myung-jin, the interim leader of the conservative Liberty Korea Party, speaks during a press conference at th

Politics March 29, 2017

A group of North Korean defectors in South Korea said Wednesday they have sent leaflets across the inter-Korean border to inform North Koreans of the totalitarian regime's possible involvement in the death of leader Kim Jong-un's half brother.The Fighters for Free North Korea said it has launched some 300,000 anti-Pyongyang leaflets from Paju, north of Seoul, on Tuesday between 11 p.m. and midnight.  This photo provided by the Fighters for Free North Korea on March 29, 2017, shows its members pr

North Korea March 29, 2017

The conservative Liberty Korea Party was set to begin a two-day public opinion poll on their presidential hopefuls Wednesday, the last process before naming its standard-bearer for the May 9 election later this week. A total of 6,000 eligible voters will participate in the opinion survey regardless of their political orientations, officials of the former ruling party said. (Yonhap)The party will announce its presidential nominee at a national convention in Seoul on Friday based on a vote by part

Politics March 29, 2017

The liberal Democratic Party was set to hold its second round of in-house vote Wednesday to select its standard-bearer in the upcoming presidential election.The one-day vote was set to begin at 2 p.m., only involving full-time party members from the central city of Daejeon, located some 160 kilometers south of Seoul, and the surrounding North and South Chungcheong provinces, according to party officials.Presidential hopefuls of the liberal Democratic Party pose for a picture before the start of

Politics March 29, 2017

US House Speaker Paul Ryan picked North Korea as one of the four biggest threats facing the United States, saying the communist nation is churning out anti-American invective while testing nuclear weapons and missiles. US House Speaker Paul Ryan (EPA-Yonhap)"We are living in very dangerous times. ISIS still threatens our troops abroad and inspired terrorism here at home. North Korea continues to spew belligerent, anti-American rhetoric while testing long range missiles and nuclear devices," Ryan

Foreign Affairs March 29, 2017

A South Korean state-run think tank reported Wednesday North Korea is presumed to possess about 1,000 drones, raising concerns they could be used for airborne terror attacks.North Korea is focusing on developing drones in a bid to make up for the inferiority of the country's air forces and better conduct reconnaissance, Chung Ku-youn, a research fellow at the Korea Institute for National Unification, said in a report. This photo taken on April 11, 2014, shows three drones which North Korea was p

North Korea March 29, 2017

Thousands of North Korea's propaganda leaflets were found in this western port city on Tuesday, police said, in the latest propaganda campaign carried out by the reclusive country against the South.Police said about 6,000 leaflets were found near a tollgate in Incheon, west of Seoul, at around 9:30 a.m. They carried messages glorifying North Korean leader Kim Jong-un. This provided photo shows anti-South propaganda leaflets, apparently scattered by Pyongyang, found in Incheon, west of Seoul, on

Social Affairs March 28, 2017

The website of South Korea's Ministry of Foreign Affairs has come under several cyberattacks originating from China but little damage has been reported so far, the ministry said Tuesday."Several on-and-off DDoS attack attempts originating from China have taken place on websites including that of the Ministry of Foreign Affairs," ministry spokesman Cho June-hyuck said in a press briefing.Defensive measures were immediately taken against the cyberattacks and no damage has been sustained, he said.S

Foreign Affairs March 28, 2017

The ratio of women in various government committees in South Korea falls short of the legal guideline, the Ministry of Gender Equality and Family said Tuesday.The ministry said female members at 442 committees established under 42 central government agencies accounted for 37.8 percent as of the end of last year, though the current law stipulates a ratio of over 40 percent.Ministry of Gender Equality and Family (Yonhap)Half of the central government bodies failed to meet the legal ratio, the mini

Social Affairs March 28, 2017