President Moon Jae-in nominated two new ministers for commerce and welfare Monday, completing his new line-up of ministers.New Wefare Minister Park Neung-hoo(L) and New Trade Minister Paik Un-gyu(R) (Yonhap)Paik Un-gyu, a professor from Seoul's Hanyang University, has been tapped to lead the Ministry of Trade, Industry and Energy, according to the presidential office Cheong Wa Dae. Park Neung-hoo, a professor from Kyonggi University, was tapped as the new minister of health and welfare.The two,

Politics July 3, 2017

South Korean President Moon Jae-in urged North Korea to return to the negotiating table Monday, saying now may be the last chance for the communist state to do so.In a meeting with former US President Barack Obama, the new South Korean president noted he and US President Donald Trump agreed to continue using sanctions and pressure as a tool to denuclearize North Korea but also use dialogue in parallel. (Yonhap)Moon returned home late Sunday following his trip to the US for his first summit talks

Diplomatic Circuit July 3, 2017

North Korea on Monday celebrated the anniversary of its strategic force in charge of missile development, saying that its missiles can hit any target in a speedy and accurate manner.But this year, Pyongyang refrained from delivering a bellicose message against the US as it is apparently gauging Seoul and Washington's new North Korea policy direction in the wake of the allies' summit last week.(Yonhap)North Korea's rubber-stamp parliament announced last year that it will designate July 3 as the D

North Korea July 3, 2017

Prosecutors sought Monday five-year jail terms for three former ranking officials for their involvement in the blacklisting of artists critical of former President Park Geun-hye administration. A special counsel in charge of the case demanded the sentencing of former Culture Minister Kim Jong-deok, ex-Vice Culture Minister Jeong Kwan-joo and Shin Dong-chul, a former presidential secretary for political affairs.   The composite photo shows former culture minister Kim Jong-deok (L); ex-vice cultur

Politics July 3, 2017

South Korea and the North Atlantic Treaty Organization will hold their annual policy consultation meeting in Seoul this week to discuss closer cooperation in efforts to fight terrorism and proliferation of weapons of mass destruction, the foreign ministry said Monday.Director-General for International Organizations Bureau Lee Jang-keun and Assistant Secretary General for Political Affairs and Security Policy Alejandro Alvargonzalez will represent South Korea and NATO respectively in the meeting

Diplomatic Circuit July 3, 2017

Senior managers at big service sector firms earned 4.2 times more than rank-and-file workers last year, highlighting the widening wage gap in earnings that began with the 2008-09 global financial crisis, according to official data Monday.A service worker's average monthly wage rose to 1.67 million won ($1,460) last year from 1.61 million won in 2009, according to data by the Bank of Korea and the Ministry of Employment and Labor.  (Yonhap)In comparison, a senior manager's average monthly wage st

Social Affairs July 3, 2017

South Korea is considering forming a consultative body involving political parties and the civil society to set its North Korea policy that won't be swayed by political views, government officials said Monday.Seoul's unification ministry is mulling over ways to reflect opinions from the government, political parties and civilians in crafting the North Korea policy that can be consistently pursued whether a liberal or conservative administration is in office, according to officials. (Yonhap)Conse

North Korea July 3, 2017

A senior member of a minor opposition party denied his involvement in a fabricated tip-off about President Moon's son during the election campaign earlier this year. Lee Jun-seo, a former senior official of the People's Party, appeared at the Seoul Southern District Prosecutors' Office to face questioning over the party's allegations, based on a fraudulent statement from an anonymous informant, that Moon Joon-yong landed a job at a public agency in late 2006 based on his father's influence.  Lee

Politics July 3, 2017

Former US President Barack Obama will attend a conference in Seoul on Monday to deliver a speech on leadership, organizers and embassy officials said. Obama arrived at Gimpo International Airport on Sunday night, along with his wife Michelle Obama and two daughters.  Former President Barack Obama`s motorcade leaving Gimpo Airport (Yonhap)It marks his first visit to South Korea since he had a summit with then-President Park Geun-hye more than three years ago. Obama is to deliver a speech regardin

Diplomatic Circuit July 3, 2017

President Moon Jae-in's approval rating rebounded slightly last week amid positive reception of the South Korea-US summit and his decision to give citizens full access to the vicinity of the presidential compound, a survey indicated Monday.In the Realmeter survey conducted from Monday to Friday, 75.3 percent approved of Moon's job performance, up 1.1 percentage points from the previous week. (Yonhap)Those who disapproved of his job performance made up 17.3 percent, down 1.3 percentage points, wh

Politics July 3, 2017

North Korea on Sunday condemned the South for what it called Seoul's "submission to the US," as leaders of the two countries joined their voices last week in urging Pyongyang to give up its nuclear ambition.The Rodong Sinmun, the North's main newspaper, published a commentary that assessed Seoul's senior officials as having "revealed their miserable appearance seized with sycophancy and submission to the US occasioned by the chief executive's first junket to the US," referring to South Korean Pr

North Korea July 3, 2017

President Moon Jae-in returned Sunday from the United States where he had a summit with US President Donald Trump on North Korea, alliance and trade issues. Upon arrival, he issued a statement to the nation stressing the summit has set the stage for South Korea to play a bigger role in resolving North Korea's nuclear issue diplomatically.  (Yonhap)"Through this summit, the two countries agreed to achieve their common goal of the denuclearization of the Korean Peninsula in a peaceful manner," Moo

Diplomatic Circuit July 3, 2017

Jeju Air Co., a South Korean low-cost carrier, said Tuesday it will start flights to Vietnam's Nha Trang starting next month.The route is the latest move by the budget carrier to expand into Southeast Asia and Japan not only to absorb the growing travel demand but also to offset sharp declines in passengers from China.Beijing banned the sale of travel packages to South Korea starting March 15 in retaliation against Seoul's deployment of the Terminal High Altitude Area Defense system.  A Jeju Air

Industry June 27, 2017

Hyundai Heavy Industries Co. and other major shipyards in South Korea have seen their stock prices slide for days due to a fall in oil prices, analysts said Tuesday.Hyundai Heavy was trading at 173,000 won ($152) on the Seoul bourse as of 10:10 a.m., down 0.29 percent from the previous session's close. The price is down from its yearly high of 187,500 won on June 14.Its smaller rival Samsung Heavy Industries Co. was quoted at 12,500 won, down 1.19 percent, extending its losing streak to a second

Industry June 27, 2017

Kia Motors Corp., South Korea's second-largest carmaker, said Tuesday it will add a new SUV to its lineup next month to boost sales. Kia Motors has developed the Stonic subcompact SUV as part of its efforts to absorb growing demand for SUVs at home and abroad amid a global economic recovery and low oil prices."The B-segment SUV market has grown fast in the past five years since 2013 to 110,000 units in South Korea. The Stonic is to attract customers in their 20s and 30s who put price and fuel ef

Industry June 27, 2017