South Korean Prime Minister Lee Nak-yon vowed on Dec. 16, 2018 that his country will further expand trade and exchanges with Algeria on the basis of a 12-year-old bilateral strategic partnership.Lee made the remarks after arriving in this northwestern African country on the first leg of his three-na

President Moon Jae-in on Dec. 17, 2018 indicated that his government may slow down the pace of legal minimum wage hikes given the strong backlash from businesses amid a sluggish economy."It is important that new economic policies such as the minimum wage hike and workweek cut are pursued under a ge

Hyundai Motor Co., South Korea's largest carmaker by sales, said Sunday legendary rally driver Sebastien Loeb will contest six rounds of the 2019 World Rally Championship (WRC).Nine-time WRC champion Loeb will start the two-year contract with Hyundai by attending the Monte-Carlo Rally with the H

President Moon Jae-in was set to lead an extended meeting of economy-related ministers Monday to discuss ways to boost the local economy in the face of a slowdown, his office said.The meeting, slated for 10 a.m., will be attended by new Finance Minister Hong Nam-ki, Education Minister Yoo Eun-hae, w

By The Korea Post Reporters Lee Young-woong, Lee Seong-woongAmbassador Mohamed Abdulla Al-Dehaimi of Qatar said, “This year, as we celebrate the National Day, our relationship with the Republic of Korea has progressively witnessing a tangible development at all aspects. Al-Dehaimi of Qatar made the

Friday, December 14, 2018Round-up of important news from major Korean dailies and from international media today:The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.Minimum wage hike improves productivity in manufacturing sectorAn increase in the minimum wage has hel

South Korea will announce a set of support measures next week for the country's troubled auto parts industry, a top official said Thursday.Hong Nam-ki, the minister of economy and finance, said the auto industry is a major priority as South Korea has been struggling to reinvigorate the manufactu

Samsung Electronics Co. has been named the most loved brand in Russia for the eighth year in a row, a market researcher said Friday.In the survey carried out by Russia's Online Market Intelligence (OMI), Samsung Electronics garnered 18.3 percent of support from 1,500 respondents living in the co

An increase in the minimum wage has helped improve productivity at South Korean manufacturing firms in general, but its impact varied by sector and size of business, a report said Friday.South Korea's minimum wage has gradually increased since the government first implemented the policy in 1988.

Kim Kil-jun, a taxi driver for 22 years, thought his taxi-hailing app was like a business partner, something that helped him get more fares, but now he feels like the platform has turned on him and become a powerful competitor in South Korea's growing mobility market.The app's operator, Kaka

A government civil rights watchdog said Thursday it has asked the Ministry of Justice to allow foreigners staying in South Korea to use their credit cards to pay immigration fees.According to the Anti-Corruption & Civil Rights Commission, foreigners are currently required to pay fees related to immi

South Korea's new finance minister, Hong Nam-ki, met with leaders of the nation's ruling and opposition parties on Thursday in a bid to drum up parliamentary support for efforts to boost economic growth.Hong took office on Tuesday with the urgent task of propping up the economy amid sluggish

Thursday, December 13, 2018Round-up of important news from major Korean dailies and from international media today: The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.FM Kang calls for Japan's prudence on wartime labor rulingsSouth Korean Foreign Minister Kang K

Nearly half of the country's listed firms reported declines in their sales in the three quarters this year ending September, an analysis by a think tank indicated on Dec. 13, 2018.The Korea Economic Research Institute (KERI) looked into the performances of 578 listed companies during the nine mo

Samsung Electronics Co. on Dec. 13, 2018 unveiled a new laptop equipped with an improved stylus that can carry out a wider range of more detailed tasks.The South Korean tech giant said the Samsung Notebook Pen S, which can also be converted to a tablet PC, will hit the local shelves starting on Dec.

South Korea's top mobile carrier SK Telecom Co. said on Dec. 13, 2018 it has joined forces with German partner Deutsche Telekom to carry out joint projects in the field of mobile edge computing.SK Telecom said it has reached an agreement with MobiledgeX, a wholly-owned subsidiary of Deutsche Tel

GM Korea Co., the South Korean unit of General Motors Co., on Dec. 13, 2018 launched its new Camaro SS in the domestic market to diversify its product lineup.The upgraded version of the sixth-generation Chevrolet muscle car comes with a 6.2-liter V8 engine and the Hydra-Matic 10-speed automatic tran

A government civil rights watchdog said on Dec. 13, 2018 it has asked the Ministry of Justice to allow foreigners staying in South Korea to use their credit cards to pay immigration fees.According to the Anti-Corruption & Civil Rights Commission, foreigners are currently required to pay fees related

South and North Korea held working-level talks on Dec. 13, 2018 to set up a groundbreaking ceremony for their project to modernize North Korean railways and roads and connect them to the South.President Moon Jae-in and North Korean leader Kim Jong-un agreed at their third summit in Pyongyang in Sept

South Korea's jobless rate rose slightly in November, government data showed on Dec. 12, 2018, amid the government's efforts to create more jobs.The unemployment rate stood at 3.2 percent last month, up 0.1 percentage point from a year earlier, according to the report compiled by Statistics