Naver Corp., South Korea's top Internet portal operator, plans to unveil an artificial intelligence embedded smart speaker, the WAVE, this summer, industry sources said Tuesday.According to the sources, Naver and its Japanese affiliate LINE Corp. are working to launch the smart speaker based on its AI virtual assistant, Clova CLOud Virtual Assistant, before the end of the first half. Naver Corp.'s auto infotainment platform, IVI (Yonhap)The WAVE speaker is said to be unveiled in Japan under the

Technology May 9, 2017

Major South Korean discount retailers saw their sales edge up 1.8 percent last year to exceed 40 trillion won ($35.3 billion) for the first time ever, largely thanks to an increase in new outlets, industry data showed Tuesday.According to the data, the combined revenues of E-Mart, the country's top discount chain operated by retail conglomerate Shinsegae, and others reached 40.1 trillion won last year, compared with 39.4 trillion won a year earlier. (Yonhap)E-Mart launched the country's first bi

Industry May 9, 2017

PyeongChang, the South Korean home of the 2018 Winter Olympics, will co-host an annual meeting of international sports journalists this week, a chance to showcase its readiness to stage the first Winter Games in the country.The 80th Congress of the International Sports Press Association will come to Seoul and PyeongChang, some 180 kilometers east of the capital in Gangwon Province, for a five-day visit starting Wednesday. Soohorang (left) and Bandabi, the official mascots of the 2018 PyeongChang

Olympic Games May 9, 2017

The spread of false information and even fake news emerged as one of the most serious problems in the runup to South Korea's presidential election held Tuesday, government data indicated.Among a total of 264 people booked by prosecutors as of May 1 for violating laws in relation to this year's presidential election, those accused of spreading false information accounted for 85, or 32 percent, according to the Supreme Prosecutors' Office.The number of people booked has increased by 36 percent com

Politics May 9, 2017

The following are fast facts about South Korea's latest presidential election held Tuesday.(Yonhap)-- The person elected in Tuesday's election will serve the 19th presidential term since the country's foundation in 1948 but become only the 11th person to serve as the president.The country's first president, Rhee Syng-man, served four consecutive terms following his first election in 1948, while his immediate successor Park Chung-hee served five terms over 19 years after coming to power through a

Politics May 9, 2017

Tens of millions of South Koreans were casting their votes Tuesday to elect a candidate to lead the country for the next five years.Voting in the country's presidential election began at 6 a.m. at 13,964 polling stations throughout the country, the National Election Commission said. As of 11 a.m., voter turnout reached 19.4 percent.(Yonhap)The figure will later be combined with turnout during last week's two-day early voting period, which came to 26.04 percent. The turnout marked the highest rat

Politics May 9, 2017

The United States looks forward to continuing "our close, constructive, deep cooperation" with South Korea's new president, the State Department said Monday.South Koreans are set to head to the polls Tuesday to elect the country's new president after former President Park Geun-hye was impeached and then ultimately removed from office over corruption charges before her five-year term expires next year.(Yonhap)"Throughout this process, the people of the Republic of Korea have demonstrated their ab

Foreign Affairs May 9, 2017

US President Donald Trump should not meet with North Korean leader Kim Jong-un unless the communist nation gives up its nuclear weapons program, former US Secretary of State Condoleezza Rice said Monday.Rice also said on CBS' "This Morning" that Kim is "reckless and maybe even a little unhinged." (Yonhap)Asked for comment on Trump's remarks that he would be "honored" to meet with the North's leader if circumstances are right, Rice said, "The president of the United States can't meet with Kim Jon

North Korea May 9, 2017

The White House expressed concern Monday about American citizens held in North Korea after a fourth US national was taken into custody in the communist nation over the weekend."Obviously this is concerning. We're well aware of it," White House press secretary Sean Spicer said at a press briefing. "We're going to work through the embassy of Sweden ... through our State Department to seek the release of the individuals there." (Yonhap)On Sunday, the North's official Korean Central News Agency said

North Korea May 9, 2017

Government research and development subsidies provided to small and medium enterprises have had a positive impact on their innovation and competitiveness, a report said Monday.The report by the state-run Science and Technology Policy Institute showed that SMEs which received R&D support from 2011 through 2015 showed positive results both in terms of sales and job creation.(Yonhap)"The results show that the government subsidies play a huge role in getting SMEs to hire more people," the report sai

Industry May 8, 2017

The number of South Korean recipients of "early state pension" decreased in 2016, data showed Monday, as more senior citizens opted for the regular benefit program to ensure they get a meaningful income later on in life.According to the data by the National Pension Service, the number of people receiving the early pension came to 36,614 in 2016, compared to 43,447 in 2015. The early state pension program was introduced to guarantee income for senior citizens up to five years earlier th

Economy May 8, 2017

LG Electronics Inc. on Monday ruled out the rumor that the company is considering the acquisition of South Korea's No. 3 smartphone manufacturer, Pantech Co.Through a regulatory filing made after getting the request from the Korea Exchange, the main bourse operator, South Korea's No. 2 tech giant said it has never considered purchasing Pantech. (Yonhap)After facing financial troubles, Pantech was normalized in late 2015 after Solid Inc. listed the company on the secondary bourse Kosdaq acquired

Technology May 8, 2017

South Korean volleyball star Kim Yeon-koung said Monday she will either stay in Turkey or move to China for next season.Kim, considered one of the world's best attackers today, returned home after leading Fenerbahce to the Turkish league championship for the 2016-17 season. She has been playing with Fenerbahce since 2011. South Korean volleyball player Kim Yeon-koung poses for a photo during a press conference at Incheon International Airport in Incheon on May 8, 2017. (Yonhap)Speculation has be

More Sports May 8, 2017

OCON Inc., the animation studio that created the computer-animated TV series "Pororo the Little Penguin," plans to launch an initial public offering next year, company officials said Monday. First aired in 2005, Pororo is one of the most popular cartoon characters for children in South Korea.(Yonhap)OCON holds a 27 percent stake in the copyright of the TV series, with another studio, Iconix Entertainment, holding another 27 percent. The remaining 46 percent is equally owned by SK Broadband and b

Industry May 8, 2017

South Korea has the highest employment rate of seniors among advanced countries due to the rapid aging and insufficient social welfare system, data said Monday.The employment rate of South Koreans aged 75 or older reached 17.9 percent in 2015, ranking first among 25 members of the Organization for Economic Cooperation and Development, according to the data compiled by the Paris-based agency. It is far higher than the OECD average of 4.8 percent. Mexico came next with 17 percent, followed by Japa

Economy May 8, 2017