More than 90 US congressmen have signed a latest congressional resolution calling for the swift deployment of an advanced anti-missile system in South Korea to counter North Koran threats since its proposal early last month, a US broadcaster reported Friday. As of Thursday, a total of 93 Democratic and Republican congressmen have signed the H. Res. 92 since it was proposed by Rep. Joe Wison on Dec. 7, Voice of America said. (Yonhap)In particular, 16 legislators left their signature on Monday alo

Diplomatic Circuit March 10, 2017

South Korea's military on Friday vowed to push ahead with the deployment of an advanced US missile defense system "as quickly as possible," unaffected by the political crisis following the ouster of President Park Geun-hye.Currently, Seoul and Washington plan to install the Terminal High Altitude Area Defense system in South Korea in a couple of months. (Yonhap)As the Constitutional Court approved the president's impeachment, the allies are expected to advance the deployment before a presidentia

Defense March 10, 2017

South Korea plans to send more than 130 soldiers to the United Arab Emirates Friday to replace a similar number of service members tasked with boosting bilateral military cooperation, the defense ministry said.The 139-strong unit, composed of the Navy's UDT/SEAL and other special operation forces, will carry out the duty of helping train the Middle Eastern country's special forces and protect South Korean residents there in case of an emergency, the ministry said in a statement. In this photo ta

Defense March 10, 2017

Acting President and Prime Minister Hwang Kyo-ahn on Friday instructed ministers to ensure the stable management of state affairs, prevent further social division and make preparations for the upcoming presidential vote.He made the calls during a Cabinet meeting hours after the Constitutional Court upheld the parliamentary impeachment of President Park Geun-hye over a massive corruption scandal surrounding her and her confidante. Acting President and Prime Minister Hwang Kyo-ahn speaks during a

Politics March 10, 2017

Former President Park Geun-hye will stay at the presidential office Cheong Wa Dae on Friday and has no plan to issue any public message anytime soon, her aide told reporters hours after the Constitutional Court ruled to dismiss her over a corruption scandal. Yonhap News TV image showing President Park Geun-hye (left) and her longtime confidante Choi Soon-sil, believed to have meddled in key state affairs in an unprecedented influence-peddling scandal. (Yonhap)"Due to some issues at her private r

Politics March 10, 2017

South Korea's election watchdog Friday began accepting applications from presidential hopefuls, just hours after the Constitutional Court approved the ousting of Park Geun-hye as president.The National Election Commission issued a statement saying that it will begin accepting registrations from potential candidates ahead of the presidential election, largely expected to be held in early May. Applicants are required to submit a number of documents proving their eligibility to run for office. This

Politics March 10, 2017

Prices of chicken surged to the highest level in three decades, industry data showed Friday, as large numbers of birds were culled following the nationwide outbreak of avian influenza late last year.South Korea has culled more than 33 million poultry since the first reported case last November, more than double the previous record of 13.96 million chickens destroyed in 2014. The market for chicken in Korea (Yonhap)The producer prices rose 59.2 percent to 2,690 won ($2.3) per kilogram as of Monda

Industry March 10, 2017

Mobile data traffic doubled before and after the Constitutional Court upheld the impeachment of President Park Geun-hye, a mobile phone operator said Friday, as people exchanged news of the historic ruling through their mobile messaging apps.The ruling immediately removed Park from office, about three months after she was impeached by the National Assembly over a corruption and influence-peddling scandal.Lee Jung-mi, acting chief of the Constitutional Court, delivers the ruling on the impeachmen

Technology March 10, 2017

Petroleum and petrochemical products emerged as the biggest export item for South Korea last month as Chinese and Japanese refiners are reducing exports due to growing domestic consumption, government data showed Friday. Exports of petroleum reached $2.92 billion and petrochemical goods $3.81 billion in February, according to the data. The combined figure of $6.7 billion is well over $6.4 billion worth of semiconductors shipped out during the same period.(Yonhap)The rise in oil and petrochemical

Industry March 10, 2017

South Korea's major business groups urged the nation and its people to quickly turn their attention to what they called urgent and important issues facing the economy, saying that the issue that has caused an enormous drain on national strength has finally come to an end.Such calls came shortly after the Constitutional Court upheld the National Assembly's decision to impeach former President Park Geun-hye, immediately removing her from office.This image shows President Park Geun-hye (right) and

Industry March 10, 2017

South Korea's top financial regulator assured local and foreign investors on Friday that the unprecedented impeachment of the country's president won't deal a serious blow to the financial market.Yim Jong-yong, chairman of the Financial Services Commission, stressed the nation's financial market has experience in successfully riding out a more difficult situation.Yim Jong-yong, chairman of the Financial Services Commission(Yonhap)He also cited a "general assessment that the current financial fun

March 10, 2017

Although the Constitutional Court's historical ruling lifted the thick uncertainties stemming from the impeachment of the incumbent president, it is time for the South Korean economy to focus more on overcoming the current strong challenges like intensifying Chinese issues and diminishing growth potential, experts said.The top court ruled to remove President Park Geun-hye from her office some three months after she was impeached by parliament on Dec. 9 on charges of letting a close friend meddle

March 10, 2017

Park Sam-koo, chairman of major South Korean conglomerate Kumho Asiana Group, has been re-elected the head of a friendship association between South Korea and China, the Kumho Asiana Group said Friday.It will be Park's third term to lead the Korea-China Friendship Association, the company said in a press release.Park Sam-koo, chairman of South Korean conglomerate Kumho Asiana Group, offers an acceptance speech after being elected to his third term as chief of the Korea-China Friendship Associati

Industry March 10, 2017

South Korea's main index rose 80 percent in the past eight years, but still lags far behind US stocks' performance during the same time, the country's main bourse said Friday.The benchmark Korea Composite Stock Price Index reached 2,091.06 on Wednesday, jumping from 1,161.56 marked on Dec. 16, 2008, when the US cut its key interest rate to zero, according to data from the Korea Exchange and the Korea Center for International Finance.Korean shares are lagging behind US stocks in performance (Yonh

March 10, 2017

The southern resort island of Jeju witnessed a sharp rise in the number of domestic tourists recently, industry sources said Friday, amid a drop in Chinese tourists triggered by a row between Seoul and Beijing over the deployment of an advanced US missile defense system.The Chinese government has banned imports of Korean pop culture content and the sale of tour packages to South Korea as part of retaliations against the installation of the Terminal High Altitude Area Defense system on South Kore

Industry March 10, 2017