Samsung Electronics vice chairman Lee Jay-young is making a big push to absorb young tech firms around the world as part of efforts to create new software and service offerings and finally secure new revenue sources. Since chairman Lee Kun-hee was hospitalized after suffering a heart attack in May, the Korean tech giant, led by the son, has acquired or invested in 11 international start-ups. This compares with 18 acquisitions made between 2007 and 2013. For South Korea’s family-run conglomerates

Prime Minister Lee Wan-koo on Tuesday stopped by the National Assembly for the first time since assuming office last week, to carry out what is often considered a ceremonial visit.His visit was an emotional one though, as he shed tears with his former counterpart Rep. Woo Yoon-keun of the main opposition New Politics Alliance for Democracy. The two met for the first time since Lee’s tough confirmation hearing earlier this month.Woo and Lee began an unlikely friendship last year as the floor lead

HOLLYWOOD ― “Birdman,” which won the best picture Oscar on Sunday, is a quirky black comedy about the dark side of fame in the entertainment industry, starring Michael Keaton in the performance of his career.The film directed by Mexico’s Alejandro Gonzalez Inarritu was the big winner of the night, taking four Oscars out of nine nominations ― including best director and best original screenplay.Alejandro G. Inarritu accepts the award for best director for “Birdman or (The Unexpected Virtue of Ign

Yim Jong-ryong, the nominee for chairman of South Korea’s top financial regulator, is expected to face stiff criticism during his parliamentary confirmation hearing, as the Assembly is divided over his suitability.The opposition New Politics Alliance for Democracy likened Yim to previous heads of the Financial Services Commission, calling the former vice finance minister a member of the “mofia” ― a portmanteau of the Ministry of Finance’s initials and the word “mafia.”The party questioned whethe

When new Prime Minister Lee Wan-koo takes office Tuesday, he will face the herculean task of winning back the public trust he lost through reports of conscription evasion, property speculation and intimidation of journalists.In South Korea, prime ministers are often limited to nominal roles, with executive power centered in the presidential office. But Lee faces daunting challenges as he is taking office at a critical time, with the Park Geun-hye government seeking a way out from a deepening pol

Former top presidential security adviser Kim Jang-soo faces the daunting task of addressing lingering political distrust between South Korea and China, after he was tapped last week as Seoul’s new ambassador to Beijing. President Park Geun-hye’s decision to field the former defense minister illustrates her desire to cement her country’s strategic partnership with China, which has recently suffered a setback due to the possibility that Washington will deploy an advanced missile defense system to

Lawmakers from the ruling and main opposition parties began hearing from state-run energy companies Thursday, as part of their probe into former President Lee Myung-bak’s “resource diplomacy” initiative.The project spearheaded by Lee, President Park Geun-hye’s predecessor, aimed to reduce South Korea’s dependence on Middle Eastern oil by investing state money in foreign energy projects. Lawmakers agreed to launch the parliamentary probe amid escalating criticism that many of its investment decis

 For Ssangyong Motor, spring appears to have arrived earlier than expected. The labor strife-marred automaker is poised to celebrate the high unexpected sales of its new compact sport utility vehicle Tivoli and select its new leader in six years.The automaker said on Wednesday it sold more than 8,000 Tivoli vehicles in the first month since its market debut on Jan. 13.“The morale of employees is riding high due to the sales,’’ a company official said. The Tivoli, rival to small SUVs like Renault

PARIS ― Herve Falciani was once just an IT worker at a big bank, but since running off with hundreds of thousands of damaging documents from banking giant HSBC he has been alternately called a hero and a thief.“He is brave. We have the highest opinion of Mr. Falciani’s work, whatever his motivations may be. He has served the public interest,” said Eric Alt, vice president of the French antitax fraud group Anticor.Swiss authorities however have charged him with data theft for taking the documents

The ambitious plan to make the southern part of the Korean Peninsula a stop on the global racing circuit may have come to a halt as the organizing committee of the Formula 1 race in Yeongam, South Jeolla Province, on Monday was reported to be considering disbanding. According to local media reports, the organizing committee of the Formula 1 Korean Grand Prix recently decided to disband after the Federation Internationale de l’Automobile dropped the Korean race from its calendar. The reports note

NEW YORK ― One of America’s most prominent TV anchors, Brian Williams, faced calls for his resignation Friday for embellishing an Iraq war story from 2003.Brian Williams. (AP)Williams, 55, who reportedly earns $10 million a year and is watched by an estimated 9 million Americans a night, admitted that a story he often repeated on air about coming under fire was not true.“I made a mistake in recalling the events of 12 years ago,” Williams said in an apology broadcast live Wednesday on the “NBC Ni

‘Jordanians have realized for the first time since we’ve talked about the international coalition against IS that they are in a state of war.’

LONDON ― Britain on Tuesday became the first country in the world to allow the creation of babies with DNA from three people after MPs voted for the controversial procedure.The results of the vote is returned in the debating chamber at the House of Commons in London on Tuesday. (AP-Yonhap)Lawmakers at the House Commons voted by 382 to 128 in favor of allowing the creation of in-vitro fertilization (IVF) babies with DNA from three people, a move aimed at preventing serious inherited diseases bein

U.S. President Barack Obama delivers remarks on his proposal for budget for fiscal 2016 at the Department of Homeland Security in Washington D.C., Monday. (Xinhua-Yonhap)WASHINGTON (AP) -- President Barack Obama set up another clash with Republicans by sending Congress a $4 trillion budget that seeks to raise taxes on wealthier Americans and corporations and increase domestic spending.    In a message accompanying the massive budget books on Monday, Obama said his proposals are "practical, not