North Korean coal and pig iron have been brought into South Korea, potentially in violation of international sanctions against Pyongyang over its nuclear ambitions and intercontinental ballistic missile tests, Seoul's customs office said Friday.The Korea Customs Office (KCS) said three South Kor
South Korea's economic recovery is being hampered by weakening domestic demand, although exports remain relatively sound, a state-run think tank said Tuesday."Export growth has been maintained, but domestic demand growth is weakening, putting a drag on the pace of economic improvement," the Ko
The Seoul government said Friday it has reached an agreement with Singapore to allow airlines to operate up to 14 flights a week that directly connect South Korea's southeastern port city of Busan with the Southeast Asian country. The agreement was made during the countries' two-day
Household loans at South Korea's five major banks reached an accumulated 548 trillion won (US$490 billion) at the end of July as people continue to borrow money to buy a house, the lenders said Saturday. The five banks -- KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank and NH No
South Korea's exports rebounded in July from the previous month's slight fall, largely due to a continued rise in outbound shipments of chips and petrochemical goods, government data showed Wednesday.Outbound shipments reached US$51.88 billion last month, up 6.2 percent from a year ago, acco
South Korean shares are expected to move in a limited range with little or no upward momentum amid lingering concerns over escalating trade tension between the United States and China, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,294.99 on Friday, up 0.2
Finance Minister Kim Dong-yeon on Friday called for an expansionary fiscal policy as South Korea's economic growth slowed in the second quarter on a decline in private investment and weaker consumption.Kim made the remarks during a parliamentary committee meeting, a day after the Bank of Korea s
The South Korean economy slowed down slightly in the second quarter from three months earlier due mainly to sluggish facility and construction investment, central bank data showed Thursday.In the April-June period, Asia's fourth-largest economy posted a 0.7 percent on-quarter gain, contracting f
A passenger jet of Asiana Airlines Inc. departing from Japan has flown back due to a landing gear problem, causing an around eight-hour flight delay, the company said Saturday. The A350 plane bound for Incheon International Airport, west of Seoul, took off from Fukuoka Airport at 11:28 a.m.
Samsung Electronics placed 12th on the list of the top 500 global companies, U.S. business magazine, Fortune, disclosed on July 13, which is the highest standing ever achieved by the tech giant of South KoreaAccording to Yonhap News Agency of Korea today, Samsung Eelctronics first entered Fortune
Prime Minister Lee Nak-yon called for greater economic and business cooperation with Kenya stating that tremendous synergy can be made by the two countries if Kenya's rich resources and Korea's technology are combined. This was reported by Yonhap in Seoul this morningLee made the remarks at
The financial watchdog plans to release a list of financial firms that have neglected guidelines for consumer protection, officials said Monday, in a name-and-shame move to better protect consumers.The list, which is expected to be published by the Financial Supervisory Service (FSS) as early as thi
Hundreds of employees at South Korea's two largest airlines held a joint rally on Saturday, calling for the airlines' patriarchs to step down over a string of scandals that sparked a huge public outcry.It was the first time that employees of Korean Air Lines Co. and Asiana Airlines Inc. had
Representatives of the business circle at South Korea's wage commission on Friday refused to take part in the last-minute negotiation session meant to decide the country's minimum wage level for next year.The Minimum Wage Commission, which consists of 27 representatives from labor, managemen
The South Korean economy has witnessed its exports' contribution to domestic demand weaken from 2000 onwards as the country's growth was led by capital-intensive information technology (IT) firms and more companies went abroad, a report said Friday.A coefficient of exports and domestic deman
The financial watchdog on Friday unveiled guidelines of a debt restructuring program for those who borrow money from savings banks, in its latest move tp better protect vulnerable people.Under the guidelines, borrowers who lost a job within three months or suffered an income decline due to an illnes
The financial regulator said Thursday it has concluded that a 2015 accounting breach by Samsung BioLogics Co. was intentional and the biopharmaceutical company clearly violated accounting rules.The ruling by the Financial Services Commission (FSC) is expected to deal a serious blow to Samsung BioLog
South Korea's index of import prices rose for the sixth month in a row in June on a weakening local currency, but a slowdown in oil prices retarded the upside pace, central bank data showed Friday.In Korean won terms, the import price index gained 1.3 percent to 88.26 last month from a month ear
South Korea's economy is on a recovery path on the back of a rebound in industrial output, although capital spending and consumption are facing adjustments and external uncertainties are on the rise, a government report said Friday.A weaker job market, rate hikes in the United States and rising
South Korea's No. 1 duty-free shop Lotte Duty Free is ramping up efforts to expand its presence in the global market in the face of fierce competition at home, industry sources said Wednesday.The duty-free chain, operated by Hotel Lotte Co., opened a new airport outlet in Nha Trang, Vietnam, lat