Hyundai Motor Co. and Kia Motors Corp. saw their combined sales in China plunge 65.1 percent last month from a year earlier amid a row over the deployment of an advanced US anti-missile system in South Korea, auto analysts said Monday. In May, Hyundai and Kia sold 52,485 vehicles in China, the world's biggest automobile market. Hyundai's sales fell 65 percent to 35,100 units, and Kia's declined 65.3 percent to 17,385, the analysts said. Hyundai Motor Group headquarters in southern Seoul (Yonhap)

Industry June 5, 2017

US technology giant IBM said Monday that it has developed a groundbreaking transistor manufacturing process for 5 nanometer (nm) semiconductor chips.In partnership with Samsung Electronics Co. and GlobalFoundries, IBM said it has created the breakthrough process to build the world's first chip that will pack 30 billion 5 nm switches. (Photo courtesy of IBM Corp.)The new chip, a follow-up to IBM's 7 nm chip developed in July 2015, will carry 30 billion transistors on a chip the size of a fingerna

Technology June 5, 2017

A Dutch sports apparel company recently named the new uniform supplier for the South Korean national skating team has vowed to provide top-notch products for next year's Winter Olympics.Danny Segers, chief operating officer of Hunter, told Yonhap News Agency that the company has a strong track record with the Dutch athletes in terms of improving their results in Hunter's uniforms."We're fitting out suits for everyone, and we'll get feedback for changes," Segers said last Friday, during a visit t

More Sports June 5, 2017

Prime Minister Lee Nak-yon on Monday renewed his government's pledge to cut fine dust emissions by over 30 percent within its five-year term and beef up environmental cooperation with China.During his speech marking the Environment Day, Lee reaffirmed that the Moon Jae-in government will pay keen attention to environmental issues to promote sustainable growth and development.Fine dust problems in S. Korea"Clearly recognizing the urgency of environmental problems, we have to piece together our ca

Social Affairs June 5, 2017

South Korea's government said Monday it has approved an additional four requests for contacts with North Koreans as it has decided to flexibly resume civilian inter-Korean exchanges.The Ministry of Unification said that it gave the green light to the requests by nongovernment organizations and a global body on taekwondo to come in contact with North Koreans.The move raised the total number of the government's such approvals to 15 since liberal President Moon Jae-in took office in May, it added.

North Korea June 5, 2017

South Korea has some room for a tax hike in the future, the finance minister nominee said Monday, lending support to the government's expansionary fiscal policies to create jobs and boost the economy."South Korea can afford a tax increase, as it has a lower ratio of tax burden to the gross domestic product than other member countries of the Organization for Economic Cooperation and Development," incoming Finance Minister Kim Dong-yeon said in a report submitted to the parliament before

Economy June 5, 2017

RAS AL KHAIMAH, United Arab Emirates -- After making a long-awaited national football team return, Lee Myung-joo is ready to give his all even if he doesn't play.Lee made the national football team return for the first time since January 2015 after head coach Uli Stielike included the hard-working midfielder for South Korea's upcoming FIFA World Cup qualifier against Qatar in Doha on June 13. With only three matches remaining, South Korea are second in Group A in the final Asian qualifying round

Soccer June 5, 2017

South Korean stocks lost ground late Monday morning following losses from technology and chemical shares.The benchmark Korea Composite Stock Price Index fell 4.39 points, or 0.19 percent, to 2,367.33 as of 11:20 a.m.Market behemoth Samsung Electronics inched down 0.04 percent, and top chipmaker SK hynix also slid 1.75 percent. Chemical shares were also losers, with LG Chem decreasing 1.19 percent and AmorePacific falling 0.15 percent.The local currency was trading at 1,119.00 won against the US

Market June 5, 2017

More than 2,000 South Korean companies sell their products in global online shopping websites eBay and Taobao as they look overseas for growth, the government body in charge of small and medium enterprises said Monday.The Small and Medium Business Administration said it signed a contract with a local online shopping company in 2014 to help the country's small and medium-sized enterprises sell their products in eBay and Taobao. (123RF)The SMBA expected there will be a growing demand for price-com

Industry June 5, 2017

South Korea on Monday started a full-fledged step to realize its slogan of the "income-led growth" through an 11.2 trillion-won ($9.99 billion) supplementary budget.The budget proposal -- which came less than one month after President Moon Jae-in took office -- is aimed at helping the needy get jobs and higher income. Moon has vowed to put his policy priority on creating jobs, especially for young people.Moon's "income-led growth" principle is similar to the concept of inclus

Economy June 5, 2017

South Korea rescued four North Korean sailors on two ships drifting in waters off its east coast last week, Seoul's unification ministry said Monday.The South's Coast Guard rescued a North Korean on a vessel Friday and another three fishermen on another boat the following day in the East Sea, according to the Ministry of Unification.In this file photo, South Korean Coast Guard officers rescue six North Korean sailors in the East Sea on May 27, 2017. They all returned to the North last week. (Yon

Social Affairs June 5, 2017

NEW YORK -- A US school for children with disabilities said Sunday it will dedicate a statue next week in memory of a South Korean boy murdered by his American adoptive father.The Linwood Center, located in Howard County, the US state of Maryland, said on its website that it will hold a ceremony marking the dedication of the sculpture called "Hyunsu's Butterfly" on the school's premises on June 12. This provided photo, taken on Feb. 24, 2014, shows flowers placed in front of a photo of Hyunsoo O

Foreign Affairs June 5, 2017

The Moon Jae-in administration apparently hit a stumbling block last week over the proposed appointment of a new chief for the antitrust watchdog strongly rejected by opposition parties that is also keeping it from forming its first Cabinet, an official noted Monday.The ruling Democratic Party failed to win the opposition's endorsement for a joint report on the outcome of a confirmation hearing held last week for the nominee of the new Fair Trade Commission chief, Kim Sang-jo.The president does

Politics June 5, 2017

SEJONG -- South Korea on Monday outlined an 11.2 trillion-won ($9.99 billion) extra budget plan to create jobs and fuel the recent recovery momentum in the economy.The supplementary budget -- the first since President Moon Jae-in took office last month -- was approved at a Cabinet meeting. The budget proposal, just a fraction of the 400 trillion-won state budget for fiscal 2017, is set to be submitted to the National Assembly on Wednesday for approval. The extra budget is a follow-up to Moo

Economy June 5, 2017

President Moon Jae-in's approval rating dropped to the 70 percent level for the first time last week, down from the 80 percent range in his first weeks in office, a survey showed Monday.In the Realmeter survey conducted from Monday to Friday, 78.1 percent approved of Moon's job performance, down 6 percentage points from the previous week.President Moon Jae-in speaks during a meeting with his senior aides at the presidential office Cheong Wa Dae in Seoul on June 1, 2017. (Yonhap)In the same surve

Social Affairs June 5, 2017