North Korea's nominal head of state met with the chief of Egypt's Orascom Telecom, which provides mobile phone services to the communist nation, according to Pyongyang's official news agency Thursday.   Kim Young-nam, president of the Presidium of the Supreme People's Assembly

The North Korean economy could grow 10 to 12 percent a year if the communist regime opens up to outside world, a report said Thursday.While Pyongyang is under the helm of new young leader Kim Jong-un, observers’ views have been split over whether the overseas-educated young leader in his late 20s would conduct economic form to quickly bring in foreign capital.The report by the Bank of America-Merrill Lynch said an annual growth of 10 to 12 percent would narrow the income gap between South Korea

North Korea has banned the use of China’s yuan and other foreign currency in its markets, saying this was part of the last instructions of late leader Kim Jong-il, according to a Seoul-based aid group.People have repeatedly been instructed to go to banks and exchange foreign currency for the won, Good Friends said its English-language newsletter seen Tuesday.Those using yuan in markets or circulating it would be severely punished and have their money confiscated, it said.“We are just carrying ou

WASHINGTON (AP) ― U.S. intelligence experts expect North Korea’s new young leader Kim Jong-un to continue Pyongyang’s policy of attempting to export its weapons systems.Director of National Intelligence James Clapper told the Senate Intelligence Committee Tuesday that the North’s export of ballistic missiles and associated materials to countries including Iran and Syria illustrated the reach of its proliferation activities.He also cited North Korea’s assistance to Syria in building a nuclear rea

North Korea owes a total of 3.5 trillion won ($3.11 billion) to South Korea, but strained inter-Korean relations make it uncertain whether Pyongyang will pay back the loan as scheduled.According to South Korea’s Ministry of Unification, the South Korean government provided its northern neighbor with 1.37 trillion won in loans from 1998 to 2006 to support the construction of a light water reactor, as part of the Korean Peninsula Energy Development Organization (KEDO) project to curb North Korean

A North Korean youth soccer team boycotted a match with its South Korean counterpart on Tuesday in an international soccer event in China, boding ill for future sport exchanges between the two Koreas, officials here said. The U-14 North Korean and South Korean squads were scheduled to play at a

(Yonhap) -- North Korea's new leader Kim Jong-un has thanked the leaders of dozens of countries for sending him condolence messages over the recent death of his father Kim Jong-il, the North's state television said Saturday.   The move is seen as the young leader's first official foray int

MOSCOW (Yonhap News) ― Top North Korean officials have vowed to move ahead with an ambitious project to build a pipeline through their isolated country to ship Siberian gas to South Korea.The North Korean officials reaffirmed their commitment to Russia following the death last month of their former leader Kim Jong-il, according to a diplomatic source in Moscow, without identifying the North Korean officials.Russia’s Energy Minister Sergei Shmatko conveyed the North’s intention to the South Korea

A South Korean charity group on Friday delivered the first flour aid to North Korea since the death of the North’s former leader Kim Jong-il.The Seoul-based Korea Peace Foundation delivered 180 tons of flour, with eight foundation representatives traveling to the North’s border city of Gaeseong.Two of the eight representatives will stay until Saturday to ensure the aid package reaches its targeted group, foundation officials said. Flour is to be delivered to an elementary school, a daycare cente

South Korean workers are likely to face tougher rules at the inter-Korean industrial complex in Gaeseong in North Korea.The Kaesong Industrial District Foundation, which deals with operation rules in Gaeseong, where South Korean manufacturers hire North Korean workers, said Wednesday it will introduce a demerit system to prevent incidents including traffic accidents, fires and violence caused by South Korean workers.Disclosing the new rules, the foundation said it would impose penalty points ran