Retirees over 50 years old are most glad that they no longer have to deal with stress from work, but many feel that tight finances are dampening their post-retirement life, a survey said Tuesday.  In the survey by the National Pension Service, conducted between April and September last year on 4,816 respondents, 32.2 percent said the best thing about retiring was being free of work-related stress. Another 17.8 percent were happy they didn't have to worry about interpersonal relationships at

Economy May 2, 2017

South Korean stocks opened higher Tuesday on the back of robust gains by tech and financial shares.The benchmark Korea Composite Stock Price Index rose 15.23 points, or 0.69 percent, to 2,220.67 in the first 15 minutes of trading. The market closed Monday for Labor Day.Tech shares led the gain, with market behemoth Samsung Electronics moving up 1.79 percent and its smaller rival LG Electronics climbing 0.72 percent. Chipmaker SK hynix advanced 3.33 percent.Financial shares also kicked off higher

Market May 2, 2017

More than 200 South Korean children aged 7 to 13 have bank accounts with a balance of 100 million won ($88,000) or higher, with their average balance hovering well above the mean of local households' financial assets, government data showed Tuesday.According to the data by the Financial Supervisory Service, 224 bank accounts owned by children in the age bracket have a balance of 100 million won or larger, with the total balance reaching 54.9 billion won, and the average balance coming to 245 mil

Market May 2, 2017

Ryu Hyun-jin of the Los Angeles Dodgers has been placed on the 10-day disabled list with a hip injury, a frustrating turn of events after collecting his first win of the season.The Dodgers said Monday (local time) Ryu is dealing with a hip contusion. The South Korean left-hander will be replaced on the roster by right-hander Josh Fields.Ryu earned his first win of the season -- and first since August 2014 -- on Sunday when he held the Philadelphia Phillies to a run over 5 1/3 innings. According

Baseball May 2, 2017

South Korean children and adolescents are suffering from a high prevalence of severe obesity, which could sharply increase the risk of developing metabolic syndrome, a report said Tuesday.A survey of 19,593 South Koreans aged 2 to 19 showed that 2 to 3 in every 100 have severe obesity, whose prevalence shot up to 2.4 percent in 2014 from 0.7 percent in 1998, according to the report by a research team from Korea University in Seoul.(Yonhap)The report covered children and adolescents who participa

Social Affairs May 2, 2017

Only a third of unwed men and women think that marriage is a must, and for some, the cost of dating is a waste of money, a survey showed Tuesday.Duo, a leading matchmaking company, polled 1,000 single men and women last year and found that 33 percent believed that marriage was mandatory. It is lower than the 43.2 percent in a 2013 survey.(Yonhap)On the other hand, 34.2 percent of the people answered marriage was not a must, up from 25.6 percent in 2013.Perception about matrimony differed between

Social Affairs May 2, 2017

Two US B-1B strategic bombers made flights over Korea early this week, Pacific Air Forces said Tuesday, in an apparent show of force against North Korea's nuclear and missile programs.On Monday, the B-1B Lancer bombers departed from Andersen Air Force Base in Guam to conduct bilateral training missions with their counterparts from South Korea and Japan, Lt. Col. Lori Hodge, PACAF spokesperson, said in a statement.(Yonhap)"The US conducts Continuous Bomber Presence operations as part of a routine

North Korea May 2, 2017

Former President Park Geun-hye's lawyer denied all the corruption charges that led to her dismissal during the first preliminary hearing of her trial Tuesday.Park, who has been jailed since March 31, was absent from the hearing at the Seoul Central District Court as her attendance was not mandatory.Yoo Yeong-ha, her lawyer, said he would formally state his position on the charges after completing a review of the prosecution's investigation records, which amount to more than 120,000 pages.Former

Politics May 2, 2017

South Korean head coach Shin Tae-yong said Monday that sacrifice is the key to the under-20 men's national football team at the upcoming FIFA competition at home. South Korea will host the FIFA U-20 World Cup from May 20 to June 11 in six local cities. The young Taeguk Warriors are paired with Argentina, England and Guinea in Group A at the 24-team FIFA tournament.  South Korean under-20 men's national football team head coach Shin Tae-yong speaks to reporters at the National Football Center in

Soccer May 1, 2017

Nearly 90 percent of financial firms worldwide said their businesses are at risk from rapidly expanding fintech rivals and they fear losing revenue to the financial innovators, according to a new study released on Monday, in the latest sign of the growing influence of financial technology, known as fintech.The study conducted by global consulting firm PricewaterhouseCoopers said that many fear losing business to innovators, starting with payments, fund transfers and personal finance. "The v

Market May 1, 2017

South Korean footballers said Monday they are determined to deliver a solid performance at the upcoming FIFA U-20 World Cup at home. South Korea will host the U-20 World Cup from May 20 to June 11 in six cities. The young Taeguk Warriors are in Group A with Argentina, England and Guinea at the 24-team FIFA competition. The South Korean national under-20 football team players and coaching staff pose for a group photo at the National Football Center in Paju, Gyeonggi Province, on May 1, 2017. (Yon

Soccer May 1, 2017

South Korea's state-funded corporations saw their debt ratio decline for four years in a row last year on the back of government-led efforts to improve their balance sheets, the finance ministry said Monday.The debt ratio of 329 public firms reached 167 percent as of end-2016, down 16 percentage points from a year earlier, with their combined credit totaling 499.4 trillion won ($437.9 billion), according to the Ministry of Strategy and Finance. It has been on a steady decline since 2013, when it

Economy May 1, 2017

Coins worth more than 16.5 billion won ($14 million) were returned to South Korea's central bank in the first quarter, data showed Monday.The figure represents a 375 percent hike from 3.47 billion won tallied in the previous quarter, according to the Bank of Korea.It also marked the highest amount since the second quarter of 1998 when South Korea was hit by the Asian financial crisis. The central bank has been striving to retrieve coins in a campaign towards becoming a coinless society to help b

Economy May 1, 2017

South Korea's top mobile carrier SK Telecom Co. said Monday that it has launched three gadgets using Internet of Things technology. The IoT tech, which allows everyday appliances to link to the Internet, is seen as one of the major technological developments of the Internet and a new revenue source for telecoms firms.  (Yonhap)"Keyco" is an IoT-based keychain with an embedded GPS chip for pets that can be controlled by a smartphone, allowing the owner to pinpoint the location of their pets, the

Technology May 1, 2017

Four companies including KT&G Corp., South Korea's largest tobacco manufacturer, have been included on the antitrust watch list as large business groups, with its mutual investments and loan guarantees to be restricted, the watchdog said Monday.Every year the Fair Trade Commission announces a newly updated list of large business groups with assets of 10 trillion won ($8.8 billion) or more to oversee their equity investments or inter-affiliate loan guarantees. (Yonhap)In its latest update, the FT

Industry May 1, 2017