The combined net profit of six credit bureau firms in South Korea jumped 31 percent on-year in 2016, as they expanded their business portfolio into new sectors, the nation's financial regulator said Tuesday. The combined net income of the six credit bureau firms, which collects and evaluates credit data between consumers and financial firms, stood at 57.2 billion won ($51.3 million) last year, up 13.6 billion won from 2015, the Financial Supervisory Service (FSS) said in a statement. (Yonhap)The

March 28, 2017

Banks in South Korea sharply downsized their headcounts, branches and automated instruments in 2016 to cut costs amid rapid growth in mobile and Internet banking, government data showed Tuesday.The combined workforce of lenders operating in the country stood at 114,775 as of the end of last year, down 2,248 employees from a year earlier and the largest on-year decline since 2010, according to the data by the Financial Supervisory Service.(Yonhap)The number of bank branches and representative off

March 28, 2017

A nuclear reactor in the southern part of the country stopped operations Tuesday, apparently due to a coolant problem, the plant's operator said.The Kori 4 reactor, located some 400 kilometers southeast of Seoul in northern Busan, was shut down at 5:11 a.m. after there was a rise in coolant levels in a collection tank, the Korea Hydro and Nuclear Power Co. aid.  The Kori 4 reactor (Yonhap file photo)No radiation leaks have been reported, the KHNP said, adding that the 950 megawatt reactor and th

Social Affairs March 28, 2017

North Korea is 50 percent likely to conduct a nuclear test or a missile launch in the next 30 days, a US think tank has predicted based on analysis of big data on the communist nation."Beyond Parallel," a North Korea analysis project of the Center for Strategic and International Studies, made the prediction after analyzing how often the North is discussed on the Internet in an effort to predict future possibilities, with a higher frequency meaning stronger "signals." (Yonhap)"The prediction is s

North Korea March 28, 2017

The US ambassador to the United Nations said Monday that North Korea would erupt in cheers if the UN adopts a treaty banning nuclear weapons because the communist nation wouldn't be complying with such a ban while others do.Amb. Nikki Haley made the remark as she voiced opposition to a proposed nuclear weapons ban treaty as dozens of countries kick off a UN conference to discuss the issue. Amb. Nikki Haley (Yonhap)"Suddenly the General Assembly wants to have a hearing to ban nuclear weapons. As

North Korea March 28, 2017

The United States should impose secondary sanctions on Chinese firms doing business with North Korea, former US human rights envoy Robert King said Monday, calling China a "problem" in dealing with Pyongyang."I think secondary sanctions which would particularly bite Chinese firms are something that we ought to be doing," King said during a discussion at the American Enterprise Institute think tank. When it comes to North Korea, King said China "really is the problem." Former US human rights envo

Foreign Affairs March 28, 2017

"Radiant Office," MBC TV's new late night office drama, debuted at No. 1 on a benchmark TV popularity index, while bigger shows took a back seat, data showed Tuesday. "Radiant Office" scored 254.1 points on the Content Power Index, becoming the most popular TV program during the March 13-March 19 period. (MBC)CPI, developed by entertainment company CJ E&M and Nielsen Korea, measures the popularity of TV shows based on the number of views of related news stories, online search tallies and buzz on

Television March 28, 2017

WASHINGTON -- The United States should consider opening direct talks with North Korea to curb its nuclear and missile development, with the initial goal of freezing the weapons programs in exchange for the relaxing of sanctions, a major US think tank chief said.Richard Haass, president of the Council on Foreign Relations, made the suggestion in an article in the Project Syndicate, saying that time is running out on the issue, and options other than diplomacy, including the use of military force,

Foreign Affairs March 28, 2017

Bouncing back from two surgeries, Los Angeles Dodgers left-hander Ryu Hyun-jin has joined the starting rotation thanks to a solid preseason.Manager Dave Roberts told reporters in Glendale, Arizona, on Monday (local time) that Ryu will be one of five starters when the regular season opens April 3.In this Associated Press photo taken on March 11, 2017, Ryu Hyun-jin of the Los Angeles Dodgers throws against the Los Angeles Angels during the first inning of a spring training baseball game in Phoenix

Baseball March 28, 2017

As the Samsung Lions prepare to bid farewell to veteran slugger Lee Seung-yuop after the 2017 Korea Baseball Organization season, his teammates would like nothing more than to send him off in style.Team captain Kim Sang-su and third-year star Koo Ja-wook, in particular, are hoping Lee's last game will come in the postseason.Kim Sang-su of the Samsung Lions smiles after a two-run single against the LG Twins during their Korea Baseball Organization preseason game at Daegu Samsung Lions Park in Dae

Baseball March 28, 2017

When the Korea Baseball Organization starts its 36th season with all 10 clubs in action Friday, one team will have the proverbial bull's-eye on its back as it chases its third straight championship.The Doosan Bears have won the past two KBO titles and will enter the 2017 season firmly entrenched as the favorite once again.Members of the Doosan Bears celebrate their preseason victory over the Samsung Lions in the KBO at Jamsil Stadium in Seoul on March 24, 2017. (Yonhap)Only two other franchises

Baseball March 28, 2017

From hulking sluggers to former major league starters, the 2017 Korea Baseball Organization season will not be short on star power, even as its greatest home run hitter embarks on a farewell tour.Former KBO MVP Lee Dae-ho has rejoined his former club Lotte Giants after spending the previous five seasons in Japan and the United States. He signed a four-year deal worth 15 billion won ($13.5 million), the largest contract ever handed to a free agent in the league's 35-year history. The Giants, who

Baseball March 28, 2017

The five counties of South Korea's eastern Gangwon Province plan to restart their efforts to be put on the list of UNESCO Biosphere Reserves this year, a provincial government official said Monday. The five counties are Cherwon, Hwacheon, Yanggu, Inje and Goseong, all located near the Demilitarized Zone, bisecting the two Koreas, and in a mountainous region, the official said. The attempt is the second of its kind, following one in 2012. This file photo shows the MAB International Co-ordinating

Social Affairs March 27, 2017

Acting President and Prime Minister Hwang Kyo-ahn on Monday called for a stern crackdown on fake news and other election crimes with the presidential election 43 days away.During a meeting of related ministers on preparation for the May 9 election day, Hwang also instructed the government to employ a "zero-tolerance" principle against any civil servants violating their obligation to remain politically neutral.Acting President and Prime Minister Hwang Kyo-ahn (Yonhap)"We have to come up with extr

Social Affairs March 27, 2017

Transparency will be the key goal sought by South Korea's troubled business lobby group to restore public confidence after its involvement in a massive corruption scandal that has engulfed the country in recent months, corporate sources said Monday.On Friday, the Federation of Korean Industries (FKI) came up with a set of "drastic" reform measures to transform itself into a transparent, consensus-seeking and research-focused entity.  In this photo taken on March 24, 2017, FKI Chairman Huh Chang-

Industry March 27, 2017