South Korean President Moon Jae-in on Friday called for sincere efforts on all sides to move the North Korean denuclearization process forward, insisting that its leader Kim Jong-un is determined to turn his country into a normal state."I have met Chairman Kim Jong-un twice so far. Chairman Kim had
A South Korean official in charge of promoting investments in North Korea's Kaesong Industrial Complex said Friday that the reopening of the now-suspended industrial park in the North's border town will be a first step towards resuming inter-Korean economic cooperation.Addressing a unificati
South Korea's minimum wage for next year has been set at 8,350 won (US$ 7.37) per hour, up 10.9 percent from this year, officials decided on Saturday.The decision was made after the Minimum Wage Council -- a panel comprised of representatives from labor, management and the general public -- had
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
U.S. activist fund Elliott Associates has filed an investor-state dispute (ISD) suit against the South Korean government seeking compensation for its losses from a 2015 merger of two Samsung units, Seoul's justice ministry said Friday.The notice of arbitration lodged by the American firm comes t
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
Hyundai Mipo Dockyard Co., a South Korean shipbuilder, said Friday that it has won a 84.1 billion won (US$74.26 million) order to build two petrochemical product carriers.In a regulatory filing, the local shipyard said it will deliver the vessels by September 2019 to an unidentified buyer based in t
Friday, July 13, 2018Round-up of important news from major Korean, international dailies, other news sources today:The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.Trump tweets letter from N.K. leaderU.S. President Donald Trump on Thursday revealed a letter from N
The Republic of Korea (ROK) owes greatly to the United Nations Forces, particularly the United States, Colombia and 15 other member countries of the United Nations, who took part in the Korean War (1950-3) fighting on the side of the ROK in defense of her freedom and democracy from the Communist sta
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
U.S. President Donald Trump on Thursday revealed a letter from North Korean leader Kim Jong-un that expressed hope for further progress in bilateral ties.In a Twitter message, Trump wrote, "A very nice note from Chairman Kim of North Korea. Great progress being made!"Attached were two images of th
Hyundai Motor Co.'s union on Thursday called on the U.S. government to exclude Korean carmakers from its plan to impose 25 percent tariffs on imported vehicles as it could lead to the loss of jobs at Hyundai's Alabama plant."If Hyundai Motor is blocked from exporting its vehicles from its d
Thursday, July 12, 2018Round-up of important news from major Korean, international dailies, other news sources today:The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.S. Korean president set to hold summit with Singaporean leader LeeSouth Korean President Moon Jae-
The two Koreas are trying to improve relations and cooperation and many people in the South view Germans as their ‘teacher’ in bringing the two divided parts of the Korean peninsula closer together for increased cooperation with an eventual aim of peaceful reunification of the divided Korean peninsu
South Korea's market for artificial intelligence (AI) speakers is expected to grow sharply this year to rank fifth in the world, a global industry tracker said Thursday.The number of AI speakers installed across the world is projected to reach 100 million units at the end of the year, 2.5 times
The financial regulator is set to hold its fifth review session on a suspected accounting breach by Samsung BioLogics Co., officials said Thursday.The Thursday session, which aims to decide punitive measures financial authorities could take against Samsung BioLogics over the alleged breach, is likel