The number of refugees and others fleeing their homes worldwide has hit a new record, spiking to 65.3 million people by the end of 2015, the United Nations said Monday. Europe’s high-profile migrant crisis -- its worst since World War II -- is just one part of a growing tide of human misery led by Palestinians, Syrians and Afghans.Globally, close to 1 percent of humanity has been forced to flee.The figures, released on World Refugee Day, underscore the unprecedented global displacement crisis.

Korea’s coal consumption rose 11 percent over the five years from 2010 to 2015, in contrast to the U.S. and U.K., which have reduced use of the fuel by nearly 25 percent, a recent study shows. China saw a 10.2 percent increase in the cited period, while India logged a 39 percent jump, according to the BP Statistical Review of World Energy. In 2010, Korea consumed 75.9 million tons of coal, which peaked at 84.6 million in 2014, falling slightly to 84.5 million in 2015. That accounted for 2.2 perc

Korean products’ market share in the Chinese imported goods market grew 1.7 percent in the past two years, data showed Sunday.Just over one-tenth of imported products in China, worth $174.3 billion, came from Korea as of 2015, according to data from the Korea International Trade Association’s Institute for International Trade. Korean products were strongest in the petrochemicals and flat-panel display markets, where they hold about one-third of the market share.Between 2013 and 2015, the most no

Korea’s top three shipbuilders will cut 6,000 jobs this year to survive the decline in global orders and economic slowdown, according to their self-rescue plans released this week.Hyundai Heavy Industries, the world’s largest shipbuilder, plans to lay off a total of 4,000 workers this year. The company will cut 2,000 workers through voluntary resignations and 1,000 workers through retirement, under the age limit. The company will also relocate 994 employees.Daewoo Shipbuilding & Marine Engineeri

Korea’s total net worth surpassed 12 quadrillion won ($10 trillion) for the first time last year. According to preliminary data from the Bank of Korea, the country’s wealth, calculated as total assets minus total liabilities, came in at 12,359.5 trillion won ($10.54 trillion) at the end of 2015, up 5.7 percent from a year earlier. That is 7.9 times the size of Korea’s gross domestic product in 2015. Nearly 87 percent of that wealth was in land and buildings. The net worth of Korean households an

Korean builders’ overseas construction orders received this year so far are worth $14.1 billion, a 40 percent drop compared to last year’s orders worth $23.5 billion in the same time period, according to the International Contractors Association of Korea on Tuesday.This is also the lowest amount in four years in which orders worth $13.7 billion were recorded in the first six months in 2012.Orders from the Middle East and Latin America decreased by 44 percent to $6.6 billion and 68.4 percent to $

Accumulated global electric vehicle sales reached 1.2 million as of last year, according to a report compiled by the Organization for Economic Cooperation and Development and the International Energy Agency released Sunday. A total of 550,000 EVs including battery electric vehicles and plug-in hybrid electric vehicles were sold last year, which is a 70 percent increase compared to the 324,000 EVs sold in 2014. The number of newly registered electric vehicles in China was the highest last year wi

The government is seeking to increase its budget spending by 3 percent to total 398.1 trillion won ($338.3 billion) next year, the lowest increase in six years, according to Finance Ministry officials.They said requests for an increase in budget have been on a steady decline in recent years as the government continues to reform and innovate its spending.According to the preliminary requests, the culture sector’s budget increased the most, by 5.8 percent, which is consistent with the plans to exp

Public support for the European Union has fallen sharply in its biggest member states over the past year, a survey showed Tuesday, weeks before Britons vote on whether to leave the 28-nation bloc.Most striking was a plunge in the percentage of Europeans who view the EU favorably, a development which appears linked to the bloc’s handling of the refugee crisis and the economy.The fall was most pronounced in France, where only 38 percent of respondents said they had a favorable view of the EU, down

Registrations for imported vehicles increased in May, according to the Korea Automobile Importers and Distributors Association on Wednesday. May recorded 19,470 new registrations, a 5.9 percent increase from the same month last year, which saw 18,386 registrations. The month’s total number of registrations was also a 9.1 percent increase from the previous month at 17,845 registrations. Despite monthly imported car sales reaching 24,366 vehicles last year in December, car sales have since been st

Due to global warming, scientists claim that the Arctic Ocean could become free of ice for the first time in 10 years. According to the Independent, professor Peter Wadhams, head of the Polar Ocean Physics Group at Cambridge University, predicted this based on satellite observation from the U.S. National Snow and Ice Data Center. Provisional satellite data of the data center shows there was just over 11.1 million square kilometers of sea ice on June 1, compared to the average over the last 30 ye

South Korea ranked 28th out of 38 surveyed countries in the Organization for Economic Cooperation and Development’s 2016 Better Life Index. Korea scored above average in areas such as civic engagement, education and jobs, but fell below average in measures that are more subjective such as life satisfaction and work-life balance.This year’s ranking is the lowest since 2012 when Korea came in 24th in the index. The area in which Koreans showed the least satisfaction was community relations, in whi

The combined market cap of the top 10 Korean firms fell by about 11 trillion won ($9.45 billion) during the first five months of 2016. According to financial information provider FnGuide, the market cap of the country’s top 10 listed conglomerates declined to 633.91 trillion won as of June 3, losing 1.7 percent from the amount it reported at the end of 2015.Among the leading local companies, Samsung Group lost 1.86 percent of market cap after dropping to 296.92 trillion won from 302.64 trillion

The negotiations for next year’s minimum wage has begun with the Minimum Wage Council convening its plenary session on Thursday. The deadline for the review and decision is June 28. The minimum wage is an obligatory limit set by the government. Employers violating the minimum wage can face up to three years in prison or a fine of up to 20 million won ($16,800).This year’s minimum wage has been set at 6,030, up 450 won from 5,580 won last year. The labor sector has been demanding the limit be rai

More than 2,500 migrants have drowned in the Mediterranean while attempting to cross into Europe so far this year, the U.N. Refugee Agency says, with at least 880 drowning in the past week alone.William Spindler, spokesman for the agency, said 2,510 people have died making the perilous crossing so far this year, compared to 1,855 in the first five months of 2015 -- an increase of 35 percent. Fewer than 60 died in the same period in 2014.Most migrants in the recent wrecks were from Syria, Afghani