The government will implement tighter controls on the movement of citizens who have been caught buying or selling sex in foreign countries as part of efforts to effectively curb sex trafficking in and out of the country,officials said Wednesday.   Measures include expanding the scope of sex offenders who can be banned from traveling abroad to include those who have seriously damaged Korea's national image through their involvement in sex trafficking abroad, the Ministry of Gender Equality and Fa

Social Affairs June 26, 2013

Certain model year Toyota Prius vehicles will be recalled in South Korea for the vehicle's faulty brake system, the transportation ministry said Wednesday.   A defect in the car's brake booster may lead to a significant increase in the braking distance, and thus jeopardize the safety of the vehicle, according to the Ministry of Land, Infrastructure and Transport.  Subject to the recall are 130 Prius vehicles produced between Oct. 31, 2008 and Oct. 9, 2009. Free repair services will be provided f

Industry June 26, 2013

SK Telecom Co., the country's leading mobile carrier, introduced the next-generation mobile network on Wednesday, offering speeds twice as fast as the existing long-term evolution (LTE) network.   SK Telecom is the first mobile operator in the world to launch the so-called LTE-Advanced network service, which is 10 times faster than the old 3G network service, it said.   With the use of the LTE-Advanced network, an 800 megabyte file takes some 40 seconds to download, compared with 80 seconds with

Technology June 26, 2013

버냉키발(發) 쇼크가 전 세계를 덮친 가운데 한국의 '금융시장 성적표'는 주요 신흥국과 비교하면 양호한  수준이었던 것으로 정부는 분석했다.    원·달러 환율 상승폭이 상대적으로 크지 않고 채권시장에서 외국인자금의 이탈도 거의 없다는 것이다.    정부는 한국의 '경제 기초 체질'이 다른 신흥국에 비해 탄탄해 급격한 자본유출 가능성이 낮을 것으로 전망하면서, 위기를 겁내기보다는 미국 경기 회복 등 기회 요인에 주목해야 한다는 입장이다.   ◇ 환율 변동폭 상대적으로 작아 23일 기획재정부에 따르면 벤 버냉키 미국 연방준비제도(Fed) 의장의 '출구전략' 발언으로 인한 환율 변동률은 한국과 호주, 인도, 브라질, 인도네시아, 필리핀, 러시아, 멕시코 등 8개 주요 신흥국 중 한국이 네번째로 작았다.    원·달러 환율은 버냉키 의장의 발언 직전인 19일 달러당 1,130.8원에서 21일 1,154.7원으로 올랐다. 이틀 새 원화는 달러화 대비 2.07% 평가절하된 것이다.    브라

한국어판 June 23, 2013

South Korea's financial markets have remained relatively resilient compared with other major emerging countries in the face of heightened volatility sparked by worries that the U.S. might scale back its economy stimulus efforts, the finance ministry said Sunday.   The financial markets here, including stocks and foreign exchange rates, were rattled on Thursday and Friday after U.S. Fed Chairman Ben Bernanke made remarks that Washington could taper its bond-buying program that has kept its intere

June 23, 2013

Ruling and opposition parties have locked horns over allegations that late President Roh Moo-hyun may have disavowed South Korea's sea border with North Korea and suspicions that the country's spy agency interfered in last year's presidential race, which have cast shadows over the National Assembly's stated goal of looking after the welfare of the people and pushing for reforms, political observers said Sunday.   Originally the ruling Saenuri Party and the main opposition Democratic Party (DP) h

Politics June 23, 2013

South Koreans' meat consumption increased more than 22 percent over the past four years, with pork remaining the most popular, government data showed Sunday.   The data released by the Ministry of Food and Drug Safety found that South Koreans consumed a total of 2.18 million tons of meat last year, or 43.7 kilograms per person.The nation's per capita meat consumption has increased 22.3 percent over the past four years, rising from 36.8 kg in 2009 to 38.7 kg in 2010, 40.4 kg in 2011 and 43.7 kg i

June 23, 2013

State prosecutors said Saturday that the chairman of food and entertainment giant CJ Group has been summoned to appear for questioning early next week over his alleged stashing of slus funds.   The chairman, Lee Jae-hyun, has been told to show up for questioning on Tuesday, said the prosecutors who requested anonymity.   Lee is suspected of stashing millions of dollars in secret funds by using fake deals on expensive art pieces, which allowed him and his family to evade up to 50 billion won (US$

Social Affairs June 23, 2013

North Korea's vice foreign minister returned home Saturday, the North's state media reported, following a trip to China that raised hopes for a possible resumption of six-party talks aimed at ending the North's nuclear programs.   Kim Kye-gwan, the first vice-minister of foreign affairs, and his party returned home after visiting China, the North's Korean Central News Agency said in a brief report, monitored in Seoul.   The report gave no further details except to say that he met in Beijing with

Politics June 23, 2013

South Korean stocks dropped 2 percent Thursday as investors' sentiment was dented by the U.S. Federal Reserve chief's remark on a possible reduction of its stimulus moves, analysts said. The local currency plunged againstthe U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 37.82 points to close at 1,850.49. Trading volume was moderate at 350.6 million shares worth 4.3 trillion won (US$3.76 billion) with losers far outpacing gainers 692 to 130. It marked the lowest leve

June 20, 2013

The ruling and main opposition parties agreed Thursday to go ahead with their plan to conduct a parliamentary investigation into allegations that the national spy agency meddled in last year's presidential election.   The ruling Saenuri Party and the main opposition Democratic Party (DP) announced the agreement following a meeting between their respective floor leaders, Rep. Choi Kyoung-hwan and Rep. Jun Byung-hun, saying they will try to pass a proposal for the investigation during this month's

Politics June 20, 2013

South Korean stocks closed 0.65 percent lower Wednesday, as investors took to the sidelines on anxiety that the U.S. Federal Reserve may do little to reassure them about maintaining the monetary easing, analysts said. Thelocal currency inched up against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) retreated 12.31 points to finish at 1,888.31. Trading volume was light at 276.2 million shares worth 3.26 trillion won (US$2.87 billion) with decliners outnumbering gainer

June 19, 2013

South Korean stocks traded 0.83 percent lower late Wednesday morning, led by losses in builders and shipbuilders, analysts said.   The benchmark Korea Composite Stock Price index (KOSPI) fell 15.23 points to 1,885.39 as of 11:20 a.m.    Top builder Hyundai Engineering & Construction dropped nearly 3 percent and heavy equipment maker Doosan Heavy Industries slid 1.4 percent.   Top-cap Samsung Electronics kept its losing binge, sinking 1.3 percent.   The local currency was changing hands at 1,133.

June 19, 2013