A South Korean importer has been arrested for selling American lobsters under a Canadian label for two and a half years, the South Regional Headquarters of the Korea Coast Guard said Tuesday.The importer, identified only as 53-year-old Kim, is accused of importing 18 tons of American lobsters worth 2.13 billion won ($1.9 million) in 321 shipments from September 2014 to March this year and selling them to local restaurants as more expensive Canadian products, the maritime police agency said. Lobs

Foreign Affairs May 16, 2017

South Korean stocks inched down after a strong start late Tuesday morning, as shares of key retailers and pharmaceutical companies widened losses, analysts said.The benchmark Korea Composite Stock Price Index retreated 0.9 points, or 0.04 percent, to 2,289.75 as of 11:20 a.m. Lotte Shopping, which runs the department store and hypermarket chain units of Lotte Group, the country's fifth-largest conglomerate, fell 1.3 percent. Another leading retailer Shinsegae also slid 1.8 percent. Pharmaceutica

Market May 16, 2017

JINCHEON -- They were once teammates in the back-to-back Stanley Cup champions. One is coaching the South Korean men's national team, and the other is still playing in the National Hockey League.And if it all goes right, Jim Paek and Jaromir Jagr will be reunited at next year's Winter Olympics in South Korea -- Paek as the South Korean bench boss, and Jagr as a Czech Republic player in the group stage.And Paek was practically giddy when reminded of that possibility.Jim Paek (L), currently head c

More Sports May 16, 2017

BEIJING -- Chinese State Councilor for Foreign Affairs Yang Jiechi has called for joint efforts to repair South Korea-China relations under the new Moon Jae-in administration, a South Korean delegation said Tuesday. A South Korea delegation led by Rep. Park Byeong-seug of the ruling Democratic Party held talks with Yang on Monday evening on the sidelines of the Belt and Road Forum for International Cooperation, which wrapped up its two-day run in Beijing the same day. Rep. Park Byeong-seug of th

Foreign Affairs May 16, 2017

Overseas card spending by South Koreans rose 65 percent during the "golden" holiday period in May from a year earlier, data showed Tuesday.The data compiled by KB Kookmin Card Co. showed that purchases made by its credit and debit card customers in foreign countries amounted to 25.4 billion won ($22.7 million) during the April 29-May 9 holiday period, compared with 15.4 billion won from the same period last year.South Koreans could have enjoyed up to an 11-day "golden" holida

Economy May 16, 2017

A high-profile US naval strike group, led by the USS Carl Vinson, is staying near the Korean Peninsula on an open-ended mission, a defense official here said Tuesday.The San Diego-based aircraft carrier arrived in Korean waters late last month as a show of force against North Korea.The USS Carl Vinson, a US aircraft carrier, stages a joint exercise with South Korean warships. (Navy)It is apparently supposed to be replaced by the USS Ronald Reagan aircraft carrier, which has its homeport in Japan

Defense May 16, 2017

South Korea lags behind rival industrialized countries in attracting talented foreign workers, various industry data showed Tuesday, despite the government's effort to ease its visa issuance system to cope with the country's declining labor force.The number of foreigners residing in South Korea jumped from 1.4 million in 2011 to 2.05 million in 2016, official data showed.  (123RF)However, the number of talented foreigners with special visas decreased from around 50,000 in 2014 to some 49,000 in

Industry May 16, 2017

South Korean President Moon Jae-in vowed "bold" and "fundamental" denuclearization of North Korea on Tuesday, in what could be considered the most strongly worded warning against the communist country from the administration to date.His remarks came in a telephone conversation with Canadian Prime Minister Justin Trudeau, who called to congratulate Moon on his recent election and inauguration, according to Yoon Young-chan, Moon's chief press secretary. President Moon Jae-in (Yonhap)"President Moo

North Korea May 16, 2017

South Korea's auto exports gained ground for three straight months in April on increased global demand, government data showed Tuesday.The total value of vehicles shipped overseas reached $3.89 billion last month, up 11.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The number of exported vehicles advanced 7 percent on-year to 242,416 units in April, a turnaround from a 4.7 percent drop the previous month.The trade ministry said a reco

Mobility May 16, 2017

Samsung Electronics Co. said Tuesday it has topped the US market for Ultra HD monitors in the January-March period, marking the fourth consecutive quarter to post such a record. Citing the data compiled by industry tracker NPD, Samsung said its UHD monitors took up 31.6 percent of the US market in the January-March period.  Samsung Ultra HD monitors (Yonhap)The South Korean tech giant first emerged as the top player in the segment in the second quarter of 2016. Samsung said its products stand ou

Industry May 16, 2017

PAJU -- Cho Young-wook might not be the most well-known player on the South Korean squad for the FIFA U-20 World Cup, but he might be the player with the greatest ambitions.As the main striker for the host nation of the U-20 World Cup, Cho wants to score goals in every match he plays. At the 24-team tournament, which kicks off on Saturday, South Korea are in Group A with Guinea, Argentina and England."I always think about scoring one goal in every game I play," Cho said Monday after a group phot

Soccer May 16, 2017

South Korea's defense authorities have raised the cybersecurity alert level by one notch amid reports of fast-spreading ransomware that may be linked to North Korea, an official said Tuesday.Many networks worldwide have been disrupted by the "WannaCry" malware. Some security researchers say the North may be behind the cyber assault. (Yonhap-ESTsecurity)The Joint Chiefs of Staff has already elevated the stage of "INFOCON," an information-related defense alert system, to Level 3 from Level 4, the

Defense May 16, 2017

South Korea, the United States and Japan agreed Tuesday to promote trilateral cooperation to tackle North Korea's belligerence highlighted by another ballistic missile launch last weekend.The regional powers strongly denounced Pyongyang for the missile test, as their working-level defense officials had a video conference on the issue, South Korea's defense ministry said. (Yonhap)They stressed it was in clear violation of the US Security Council resolutions on the North that prohibits it from con

North Korea May 16, 2017

Samsung SDS Co., an IT arm of South Korea's top conglomerate Samsung Group, said Tuesday it has agreed to set up a joint venture with a Chinese firm to tap deeper into the logistics business.Samsung SDS said it agreed with China-based Kerry Logistics to establish a joint venture. Established in 1981, Kerry Logistics provides logistics services to some 42 countries around the globe. (Yonhap)The new venture will be named SDS KERRY (Shanghai) Supply Chain Solutions Ltd., according to Samsung. Other

Industry May 16, 2017

North Korea did not give any prior notice of its latest ballistic missile launch to the International Maritime Organization despite its IMO membership, a US broadcaster said Tuesday. On Sunday, the North successfully test-fired an intermediate-range ballistic missile, dubbed Hwasong-12, from Kusong, North Pyongan Province. The missile dropped into the East Sea after flying 787 kilometers eastward, with its highest altitude recording 2,111 kilometers.  This photo, released by the North's Rodong S

North Korea May 16, 2017