South Korean baseball club Nexen Heroes on Thursday acquired former major league pitcher Jake Brigham, a day after releasing another ex-big leaguer Sean O'Sullivan.The Korea Baseball Organization club said Brigham has agreed to a $450,000 deal for the rest of the season. The 29-year-old right-hander has 12 big league games under his belt, all with the Atlanta Braves in 2015, and spent the last season with the Rakuten Golden Eagles in Japan's Nippon Professional Baseball.  In this undated photo p

Baseball May 4, 2017

South Korea's financial authorities said Thursday they have approved Mirae Asset Life Insurance Co.'s acquisition of PCA Life Insurance Co., the local unit of Britain's largest insurer Prudential Plc.(Yonhap)The Financial Services Commission said it had approved the deal worth 170 billion won ($150 million) on Tuesday.The takeover will make Mirae Asset Life Insurance the fifth-largest life insurer with assets of 33.41 trillion won in the domestic insurance market. (Yonhap)

Industry May 4, 2017

South Korea's trade minister said Thursday that the government is preparing for every possible scenario, including the renegotiation of a free trade deal with the United States."Seoul is studying every aspect of the pact and getting ready to deal with each case, including the renegotiation of the South Korea-US free trade agreement," Trade Minister Joo Hyung-hwan said in a meeting with experts and researchers from state-run think tanks and private institutions. "We will keep close

Economy May 4, 2017

Finance ministers and central bank governors of South Korea, China and Japan will hold talks to coordinate policies and strengthen cooperation in the emergence of trade protectionism, Seoul's finance ministry said Thursday.The trilateral meeting will be held Friday in the Japanese city of Yokohama, with South Korea's Finance Minister Yoo Il-ho to be the chairperson, according to the Ministry of Strategy and Finance. Bank of Korea Gov. Lee Ju-yeol will also attend the gathering.The policymakers f

Economy May 4, 2017

South Korean football powerhouse Jeonbuk Hyundai Motors will try to regain control of the domestic league this weekend with a rebound from stunning defeats.Jeonbuk have been one of the elite clubs in the top-tier K League Classic in recent years. Led by head coach Choi Kang-hee, they won back-to-back titles in 2014 and 2015.Jeonbuk could have completed a three-peat last year, but they ended up second after suffering a nine-point deduction from the league over a bribery scandal. In 2016, however,

Soccer May 4, 2017

South Korea's online sales continued their upbeat mode to reach a fresh record high in March amid recovering consumer sentiment, government data showed Thursday.Total online transactions reached 6.33 trillion won ($5.58 billion) in March, up 21.3 percent from 5.22 trillion won tallied a year earlier, according to the data by Statistics Korea. (Yonhap)It marked the highest number to date, easily surpassing the earlier record of 6.21 trillion won set in December last year.Purchases made through sm

Industry May 4, 2017

South Korean stocks turned higher late Thursday helped by increased buying by foreign investors.The benchmark Korea Composite Stock Price Index rose 13.02 points, or 0.59 percent, to 2,232.69 as of 11:20 a.m. Bae Sung-young, a market analyst at KB Securities Co., said foreign buying and improved corporate earnings pushed up the main index.Most large-cap stocks were mixed across the board.Market bellwether Samsung Electronics Co. rose 1.16 percent, and Naver, the top Internet portal operator, gai

Market May 4, 2017

A rising number of seniors are purchasing the latest smartphones, industry data showed Thursday, breaking the perception that older users normally buy traditional handsets with buttons.According to the data compiled SK Telecom Co., 74 percent of its users aged 60 and above used smartphones as of April. The number compares to the 10 percent posted by a separate survey conducted by Gallup Korea in 2012. (Yonhap)The mobile carrier also said 40 percent of its clients aged 65 an above purchased Samsu

Technology May 4, 2017

The United States ranked as the fourth-largest overseas market for South Korean cosmetic products in the first quarter of 2017 despite concerns of protectionism, a trade association said Thursday. In the January-March period, South Korean companies trailed French, Canadian and Chinese firms in terms of makeup products shipped to the world's largest economy, the Korea Trade-Investment Promotion Agency.In this photo taken on June 12, 2016, a Korean makeup artist puts makeup on a foreigner during a

Industry May 4, 2017

South Korea's current account surplus narrowed in March from a year earlier due to an increased deficit in the service balance, central bank data showed Thursday.The country's current account surplus reached $5.93 billion in March, compared with a surplus of $10.55 billion a year earlier, according to the preliminary data from the Bank of Korea.The figure represents a surplus for 61 months in a row. The current account is the biggest measure of cross-border trade.The BOK said the widened deficit

Economy May 4, 2017

South Korea's foreign exchange reserves rose slightly in April from a month earlier due to a hike in the value of non-dollar currencies when converted into the US greenback, central bank data showed Thursday.As of the end of April, the country's foreign exchange reserves came to $376.57 billion, up $1.27 billion from the previous month, the Bank of Korea said in a statement.Foreign exchange reserves consist of securities and deposits denominated in overseas currencies, as well as International M

Economy May 4, 2017

South Korea's five carmakers said Tuesday their combined sales fell 11 percent last month from a year earlier on weak overseas vehicle demand. The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a total of 656,735 vehicles in April, down from 740,228 units a year earlier, according to data released by the companies. (Yonhap)Their overseas sales plunged 13 percent to 524,060 units last month from the previous year'

Mobility May 2, 2017

South Korean football prospect Lee Kang-in, who plays for Spanish side Valencia CF Juvenil B, said Tuesday he wants to become a player who can lead the national team in the future.Lee is one of 26 players selected for the under-18 national football team's training in May. This is the first time the 16-year-old midfielder has been picked to represent his country. He is also the youngest player on the squad called up by head coach Chung Jung-yong.(Yonhap)"I'm really happy because I'm here to play

Soccer May 2, 2017

South Korean stocks closed higher on robust gains of blue chip shares, including market behemoth Samsung Electronics, analysts said Tuesday, posting the second-highest closing figure. The Korean won gained against the US dollar.The benchmark Korea Composite Stock Price Index gained 14.23 points, or 0.65 percent, to close at 2,219.67. Trade volume was low at 290 million shares worth 4.72 trillion won ($4.17 billion), with losers outnumbering gainers 429 to 363.The latest figure marks the second-h

Market May 2, 2017

Kia Motors Corp. said Tuesday its vehicle sales fell 13 percent last month from a year earlier on lower overseas demand. The country's second-biggest carmaker by sales sold a total of 209,832 vehicles in April, down from 241,617 units a year earlier, the company said in a statement. (Yonhap)Domestic sales fell 10 percent year-over-year to 43,515 units from 48,505 units. Overseas sales were down 14 percent to 166,317 from 193,112 during the same period, it said. In particular, sales of vehicles p

Mobility May 2, 2017